Fair Value Measurements (Tables)

9 Months Ended

Jun. 30, 2025

Schedule of Fair Value Measurements for Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present information about the Company’s assets and liabilities measured at fair value on a recurring basis, and indicates the fair value hierarchy of the valuation techniques utilized by the Company:


	June 30, 2025
	Level 1		Level 2		Level 3		Total
	(in thousands)

Available-for-sale securities
U.S. government and agency securities	$	—	$	221,877	$	—	$	221,877
Municipal securities	—		7,019		—		7,019
Commercial notes	—		26,449		—		26,449
Corporate debt securities	—		515,234		—		515,234
Total available-for-sale securities	—		770,579		—		770,579
Cash equivalents
Money market instruments	81,283		—		—		81,283
Term deposit	—		11,049		—		11,049
U.S. Treasuries	—		7,960		—		7,960
Commercial notes	—		23,770		—		23,770
Total cash equivalents	81,283		42,779		—		124,062
Total financial assets	$	81,283	$	813,358	$	—	$	894,641


	September 30, 2024
	Level 1		Level 2		Level 3		Total
	(in thousands)

Available-for-sale securities
U.S. government and agency securities	$	—	$	160,723	$	—	$	160,723
Commercial notes	—		179,714		—		179,714
Corporate debt securities	—		237,839		—		237,839
Total available-for-sale securities	—		578,276		—		578,276
Cash equivalents
Money market instruments	66,966		—		—		66,966
Total cash equivalents	66,966		—		—		66,966
Total financial assets	$	66,966	$	578,276	$	—	$	645,242