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Income Taxes (Tables) | 12 Months Ended
--- | ---
Sep. 30, 2022
Income Tax Disclosure [Abstract] |
Provisions for Income Taxes | The provision for income taxes consisted of the following components:
| September 30,
| 2022 |  | 2021
| (in thousands)
Federal: |  |  |
Current | $ | — |  |  | $ | — |
Deferred | — |  |  | — |
| — |  |  | — |
State: |  |  |
Current | 304 |  |  | 2 |
Deferred | — |  |  | — |
| 304 |  |  | 2 |
Foreign: |  |  |
Current | 3,481 |  |  | — |
Deferred | — |  |  | — |
| 3,481 |  |  | — |
Total: |  |  |
Current | 3,785 |  |  | 2 |
Deferred | — |  |  | — |
Income tax provision | $ | 3,785 |  |  | $ | 2 |
Summary of Effective Income Tax Rate Reconciliation | The following table presents a reconciliation of the tax expense based on the statutory rate to the Company’s actual tax expense in the consolidated statements of operations:
| September 30,
| 2022 |  | 2021 |  | 2020
At U.S. federal statutory rate | -21.0 | % |  | -21.0 | % |  | -21.0 | %
State taxes, net of federal effect | -8.6 | % |  | -7.0 | % |  | -7.0 | %
Stock compensation | 1.7 | % |  | -1.3 | % |  | -13.3 | %
Valuation allowance | 28.4 | % |  | 29.3 | % |  | 43.3 | %
Other | 1.7 | % |  | 0.0 | % |  | -2.0 | %
Effective income tax rate | 2.2 | % |  | 0.0 | % |  | 0.0 | %
Components of the Net Deferred Tax Assets and Liabilities | The following table presents the significant components of the Company’s net deferred tax assets and liabilities:
| September 30,
| 2022 |  | 2021
| (in thousands)
Deferred tax assets: |  |  |
Accrued Compensation | $ | 2,961 |  |  | $ | 2,371 |
Stock Compensation | 41,479 |  |  | 22,454 |
Capitalized Research & Development | 324 |  |  | 324 |
California Alternative Minimum Tax | 483 |  |  | 179 |
Net Operating Losses | 171,319 |  |  | 185,431 |
Intangible Assets | 2,973 |  |  | 3,562 |
Deferred Revenue | 38,810 |  |  | — |
Right of Use Assets/Lease Liabilities | 2,844 |  |  | 1,938 |
Capital Loss | 1,679 |  |  | — |
Total gross deferred tax assets | $ | 262,872 |  |  | $ | 216,259 |
Valuation allowance | $ | (242,394) |  |  | $ | (194,255) |
Deferred tax liabilities: |  |  |
Fixed Assets | $ | (1,088) |  |  | $ | (6,360) |
State taxes | (19,390) |  |  | (15,644) |
Total gross deferred tax liability | $ | (20,478) |  |  | $ | (22,004) |
Net deferred tax assets (liabilities) | $ | — |  |  | $ | — |
Schedule of Gross Unrecognized Tax Benefits | The following table summarizes the Company’s gross unrecognized tax benefits:
| Year Ended September 30,
| 2022 |  | 2021 |  | 2020
| (in thousands)
Beginning balance of unrecognized tax benefits | $ | — |  |  | $ | — |  |  | $ | — |
Increase for prior period tax positions | 3,481 |  |  | — |  |  | — |
Ending balance of unrecognized tax benefits | $ | 3,481 |  |  | $ | — |  |  | $ | — |

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