| Investments |
INVESTMENTS The Company’s investments consisted of the following: | | | | | | | | | | | | | | | | | | | | | | | | | As of June 30, 2026 | | (in thousands) | | Adjusted Basis | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | | | | | | | | | | | | | | | | | | Available-for-sale securities | $ | 1,553,308 | | | $ | 433 | | | $ | (6,540) | | | $ | 1,547,201 | | | | | | | | | | | | | | | | | | | Total current investments | $ | 1,553,308 | | | $ | 433 | | | $ | (6,540) | | | $ | 1,547,201 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | As of September 30, 2025 | | (in thousands) | | Adjusted Basis | | Gross Unrealized Gains | | Gross Unrealized Losses | | Fair Value | | | | | | | | | | | | | | | | | | Available-for-sale securities | $ | 689,882 | | | $ | 2,956 | | | $ | (20) | | | $ | 692,818 | | | | | | | | | | | Total current investments | $ | 689,882 | | | $ | 2,956 | | | $ | (20) | | | $ | 692,818 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
The following table summarizes the contract maturity of the available-for-sale securities as of: | | | | | | | | | | | | | June 30, 2026 | | September 30, 2025 | | (in thousands) | | | | | | | | | Within one year | $ | 605,489 | | | $ | 224,328 | | After one to two years | 669,500 | | | 468,490 | | | After two to three years | 272,212 | | | — | | Total | $ | 1,547,201 | | | $ | 692,818 | | | | | |
As of June 30, 2026 and September 30, 2025, the gross unrealized losses were immaterial. The Company has determined that the available-for-sale securities that were in an unrealized loss position did not have any credit loss impairment as of June 30, 2026 and 2025.
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