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Fair Value Measurements (Tables)
3 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Unrealized Gain (Loss) on Investments The following tables present the Company’s cash equivalents and marketable securities’ costs, gross unrealized gains and losses, and fair value by major security type recorded as cash equivalents or short-term or long-term marketable securities as of December 31, 2024, and September 30, 2024. Unrealized gains and losses from the remeasurement of marketable securities are recorded in accumulated other comprehensive loss until recognized in earnings upon the sale or maturity of the security.

 

 

December 31, 2024

 

 

Cost
Basis

 

 

Gross
Unrealized
Gain

 

 

Gross
Unrealized
Loss

 

 

Fair
Value

 

 

Cash
Equivalents

 

 

Short-term
Securities

 

 

Long-term
Securities

 

Level 1:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

1,279

 

 

$

 

 

$

 

 

$

1,279

 

 

$

1,279

 

 

$

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 2:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Certificates of deposit

 

 

253

 

 

 

 

 

 

 

 

 

253

 

 

 

 

 

 

253

 

 

 

 

U.S. government agency bonds

 

 

641

 

 

 

 

 

 

 

 

 

641

 

 

 

 

 

 

641

 

 

 

 

Municipal securities

 

 

2,306

 

 

 

1

 

 

 

(1

)

 

 

2,306

 

 

 

 

 

 

2,001

 

 

 

305

 

Corporate bonds

 

 

2,250

 

 

 

1

 

 

 

 

 

 

2,251

 

 

 

 

 

 

2,251

 

 

 

 

Subtotal

 

 

5,450

 

 

 

2

 

 

 

(1

)

 

 

5,451

 

 

 

 

 

 

5,146

 

 

 

305

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

6,729

 

 

$

2

 

 

$

(1

)

 

$

6,730

 

 

$

1,279

 

 

$

5,146

 

 

$

305

 

 

 

September 30, 2024

 

 

Cost
Basis

 

 

Gross
Unrealized
Gain

 

 

Gross
Unrealized
Loss

 

 

Fair
Value

 

 

Cash
Equivalents

 

 

Short-term
Securities

 

 

Long-term
Securities

 

Level 1:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

301

 

 

$

 

 

$

 

 

$

301

 

 

$

301

 

 

$

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 2:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Certificates of deposit

 

 

401

 

 

 

 

 

 

 

 

 

401

 

 

 

152

 

 

 

 

 

 

249

 

U.S. government agency bonds

 

 

2,591

 

 

 

3

 

 

 

 

 

 

2,594

 

 

 

 

 

 

2,594

 

 

 

 

Municipal securities

 

 

2,127

 

 

 

2

 

 

 

 

 

 

2,129

 

 

 

 

 

 

2,129

 

 

 

 

Corporate bonds

 

 

3,219

 

 

 

3

 

 

 

 

 

 

3,222

 

 

 

 

 

 

3,222

 

 

 

 

Subtotal

 

 

8,338

 

 

 

8

 

 

 

 

 

 

8,346

 

 

 

152

 

 

 

7,945

 

 

 

249

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

8,639

 

 

$

8

 

 

$

 

 

$

8,647

 

 

$

453

 

 

$

7,945

 

 

$

249

 

Schedule of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value

The following table summarizes the fair value and gross unrealized losses related to available-for-sale debt securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2024:

 

 

As of December 31, 2024

 

 

In loss position < 12
months

 

 

In loss position > 12
months

 

 

Total in loss position

 

 

Fair
Value

 

 

Gross
Unrealized
Loss

 

 

Fair
Value

 

 

Gross
Unrealized
Loss

 

 

Fair
Value

 

 

Gross
Unrealized
Loss

 

Certificates of deposit

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

U.S. government agency bonds

 

 

292

 

 

 

 

 

 

 

 

 

 

 

 

292

 

 

 

 

Municipal securities

 

 

1,447

 

 

 

(1

)

 

 

 

 

 

 

 

 

1,447

 

 

 

(1

)

Corporate bonds

 

 

547

 

 

 

 

 

 

 

 

 

 

 

 

547

 

 

 

 

 

$

2,286

 

 

$

(1

)

 

$

 

 

$

 

 

$

2,286

 

 

$

(1

)

Schedule of Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis

The change in the carrying amount of the holdback liability was as follows:

 

Balance as of September 30, 2024

 

$

250

 

Payment

 

 

(250

)

Balance as of December 31, 2024

 

$