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Stock-Based Compensation (Tables) | 12 Months Ended
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Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Stock-Based Compensation Expense | Stock-based compensation expense is included in the consolidated results of operations as follows (in thousands):
| Fiscal years ended September 30,
| 2018 |  | 2017 |  | 2016
Cost of sales | $ | 195 |  |  | $ | 213 |  |  | $ | 215 |
Sales and marketing | 1,492 |  |  | 1,348 |  |  | 921 |
Research and development | 516 |  |  | 656 |  |  | 590 |
General and administrative | 2,651 |  |  | 2,442 |  |  | 1,923 |
Stock-based compensation before income taxes | 4,854 |  |  | 4,659 |  |  | 3,649 |
Income tax benefit | (1,017 | ) |  | (1,536 | ) |  | (1,185 | )
Stock-based compensation after income taxes | $ | 3,837 |  |  | $ | 3,123 |  |  | $ | 2,464 |
Schedule of Stock Option Activity | A summary of our stock options as of September 30, 2018 and changes during the twelve months then ended is presented below (in thousands, except per common share amounts):
|  | Options Outstanding |  | Weighted Average Exercised Price |  | Weighted Average Contractual Term (in years) |  | Aggregate Intrinsic Value (1)
Balance at September 30, 2017 |  | 3,902 |  |  | $10.54 |  |  |  |
Granted |  | 863 |  |  | 10.92 |  |  |  |
Exercised |  | (597 | ) |  | 9.14 |  |  |  |
Forfeited / Canceled |  | (642 | ) |  | 12.64 |  |  |  |
Balance at September 30, 2018 |  | 3,526 |  |  | $10.49 |  | 4.2 |  | $ | 10,470 |
Exercisable at September 30, 2018 |  | 2,245 |  |  | $10.09 |  | 3.3 |  | $ | 7,558 |
(1) The aggregate intrinsic value represents the total pre-tax intrinsic value, based on our closing stock price of $13.45 as of September 30, 2018, which would have been received by the option holders had all option holders exercised their options as of that date.
Schedule of Valuation Assumptions | The table below shows the weighted average fair value, which was determined based upon the fair value of each option on the grant date utilizing the Black-Scholes option-pricing model and the related assumptions:
| Fiscal years ended September 30,
| 2018 |  | 2017 |  | 2016
Weighted average per option grant date fair value | $ | 3.98 |  |  | $ | 4.63 |  |  | $ | 3.90 |
Assumptions used for option grants: |  |  |  |  |
Risk free interest rate | 2.12% - 2.89% |  | 1.46% - 1.96% |  | 1.22% - 1.85%
Expected term | 6.00 years |  | 6.00 years |  | 6.00 years
Expected volatility | 33% - 34% |  | 33% - 34% |  | 32% - 33%
Weighted average volatility | 33% |  | 34% |  | 32%
Expected dividend yield | 0% |  | 0% |  | 0%
Schedule of Weighted Average Exercise Price Range and Remaining Contractual Life | As of September 30, 2018, the weighted average exercise price and remaining life of the stock options are as follows (in thousands, except remaining life and exercise price):
Options Outstanding |  | Options Exercisable
Range of Exercise Prices |  | Options Outstanding |  | Weighted Average Remaining Contractual Life (In Years) |  | Weighted Average Exercise Price |  | Number of Shares Vested |  | Weighted Average Exercise Price
$7.40 - $8.30 |  | 694 |  |  | 3.16 |  | $ | 8.00 |  |  | 604 |  |  | $ | 7.97 |
$8.31 - $9.68 |  | 551 |  |  | 3.27 |  | $ | 9.39 |  |  | 515 |  |  | $ | 9.42 |
$9.69 - $10.33 |  | 644 |  |  | 5.38 |  | $ | 10.14 |  |  | 129 |  |  | $ | 9.89 |
$10.34 - $10.81 |  | 554 |  |  | 3.79 |  | $ | 10.63 |  |  | 421 |  |  | $ | 10.72 |
$10.82 - $12.63 |  | 523 |  |  | 4.36 |  | $ | 12.00 |  |  | 379 |  |  | $ | 11.99 |
$12.64 - $13.50 |  | 548 |  |  | 5.55 |  | $ | 13.50 |  |  | 185 |  |  | $ | 13.50 |
$13.51 - $14.75 |  | 12 |  |  | 2.82 |  | $ | 14.75 |  |  | 12 |  |  | $ | 14.75 |
$7.40 - $14.75 |  | 3,526 |  |  | 4.23 |  | $ | 10.49 |  |  | 2,245 |  |  | $ | 10.09 |
Schedule of Nonvested Restricted Stock Units | A summary of our non-vested restricted stock units as of September 30, 2018 and changes during the twelve months then ended is presented below (in thousands, except per common share amounts):
| Number of Awards |  | Weighted Average Grant Date Fair Value
Nonvested at September 30, 2017 | 566 |  |  | $ | 11.28 |
Granted | 415 |  |  | $ | 10.77 |
Vested | (207 | ) |  | $ | 11.02 |
Canceled | (100 | ) |  | $ | 11.21 |
Nonvested at September 30, 2018 | 674 |  |  | $ | 11.05 |

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