Fair value measurement (Tables)
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12 Months Ended |
Sep. 30, 2022 |
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| Fair Value Disclosures [Abstract] |
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| Summary of Debt Securities Available-for-Sale |
The following table sets forth the cash and cash equivalents, and short-term investments as of September 30, 2022: | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | | Amortized cost | | Gross unrealized gains | | Gross unrealized losses | | Fair value | | Cash and cash equivalents | | $ | 378,687 | | | $ | — | | | $ | — | | | $ | 378,687 | | | Short-term investments: | | | | | | | | | | Commercial paper | | 14,997 | | | — | | | — | | | 14,997 | | | U.S. government treasury bills | | 112,878 | | | — | | | (1,594) | | | 111,284 | | | Total | | $ | 506,562 | | | $ | — | | | $ | (1,594) | | | $ | 504,968 | |
The following table sets forth the cash and cash equivalents, and short-term investments as of September 30, 2021:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | | Amortized cost | | Gross unrealized gains | | Gross unrealized losses | | Fair value | | Cash and cash equivalents | | $ | 465,829 | | | $ | — | | | $ | — | | | $ | 465,829 | | | Short-term investments: | | | | | | | | | | U.S. government treasury bills | | 12,033 | | | 1 | | | — | | | 12,034 | | | Total | | $ | 477,862 | | | $ | 1 | | | $ | — | | | $ | 477,863 | |
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| Summary of Cash and Cash Equivalents |
The following table sets forth the cash and cash equivalents, and short-term investments as of September 30, 2022: | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | | Amortized cost | | Gross unrealized gains | | Gross unrealized losses | | Fair value | | Cash and cash equivalents | | $ | 378,687 | | | $ | — | | | $ | — | | | $ | 378,687 | | | Short-term investments: | | | | | | | | | | Commercial paper | | 14,997 | | | — | | | — | | | 14,997 | | | U.S. government treasury bills | | 112,878 | | | — | | | (1,594) | | | 111,284 | | | Total | | $ | 506,562 | | | $ | — | | | $ | (1,594) | | | $ | 504,968 | |
The following table sets forth the cash and cash equivalents, and short-term investments as of September 30, 2021:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | | Amortized cost | | Gross unrealized gains | | Gross unrealized losses | | Fair value | | Cash and cash equivalents | | $ | 465,829 | | | $ | — | | | $ | — | | | $ | 465,829 | | | Short-term investments: | | | | | | | | | | U.S. government treasury bills | | 12,033 | | | 1 | | | — | | | 12,034 | | | Total | | $ | 477,862 | | | $ | 1 | | | $ | — | | | $ | 477,863 | |
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| Summary of Company's Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis |
As of September 30, 2022, financial assets and liabilities measured and recognized at fair value are as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | | Level 1 | | Level 2 | | Level 3 | | Fair value | | Assets | | | | | | | | | | Money market funds | | $ | 316,805 | | $ | — | | $ | — | | $ | 316,805 | | Commercial paper | | — | | 14,997 | | — | | 14,997 | | U.S. government treasury bills | | 111,284 | | — | | — | | 111,284 | | Total financial assets | | $ | 428,089 | | $ | 14,997 | | $ | — | | $ | 443,086 | | | | | | | | | | | Liabilities | | | | | | | | | | Contingent consideration and indemnity holdback | | $ | — | | $ | 9,592 | | $ | 2,100 | | $ | 11,692 | | Total financial liabilities | | $ | — | | $ | 9,592 | | $ | 2,100 | | $ | 11,692 |
As of September 30, 2021, financial assets and liabilities measured and recognized at fair value are as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | | Level 1 | | Level 2 | | Level 3 | | Fair value | | Assets | | | | | | | | | | Money market funds | | $ | 430,438 | | | $ | — | | | $ | — | | | $ | 430,438 | | | | | | | | | | | | U.S. government treasury bills | | 12,034 | | | — | | | — | | | 12,034 | | | Total financial assets | | $ | 442,472 | | | $ | — | | | $ | — | | | $ | 442,472 | | | | | | | | | | | | Liabilities | | | | | | | | | | Contingent consideration and indemnity holdback | | $ | — | | $ | 9,856 | | $ | — | | $ | 9,856 | | Total financial liabilities | | $ | — | | $ | 9,856 | | $ | — | | $ | 9,856 |
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| Summary of Key Inputs Into Monte Carlo Simulation |
The key inputs into the Monte Carlo simulation as of December 1, 2021, the acquisition date and as of September 30, 2022 were as follows: | | | | | | | | | | | | | | | | | September 30, | | December 1, | | Contingent consideration | | 2022 | | 2021 | | Stock price | | $ | 35.24 | | | $ | 87.06 | | | Equity volatility | | 93.7 | % | | 81.3 | % | | Risk-free interest rate | | 3.9 | % | | 0.4 | % | | Revenue volatility | | 30.2 | % | | 21.9 | % | | | | | |
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| Summary of Reconciliation of Beginning and Ending Balances |
The following table provides a reconciliation of beginning and ending balances of the Level 3 financial liabilities during the year ended September 30, 2022:
| | | | | | | | | | (in thousands) | | Total | Balance as of September 30, 2021 | | $ | — | | | Contingent consideration – additions | | 8,500 | | Change in fair value | | (6,400) | Balance as of September 30, 2022 | | $ | 2,100 | |
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