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Stock-Based Compensation (Tables) | 12 Months Ended
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Sep. 30, 2019
Share-based Payment Arrangement [Abstract] |
Schedule of Stock-Based Compensation Expense | Stock-based compensation expense is included in the consolidated results of operations as (in thousands):
| Fiscal year ended September 30,
| 2019 |  | 2018 |  | 2017
Cost of sales | $ | 174 |  |  | $ | 195 |  |  | $ | 213 |
Sales and marketing | 1,708 |  |  | 1,492 |  |  | 1,348 |
Research and development | 996 |  |  | 516 |  |  | 656 |
General and administrative | 2,777 |  |  | 2,651 |  |  | 2,442 |
Stock-based compensation before income taxes | 5,655 |  |  | 4,854 |  |  | 4,659 |
Income tax benefit | (1,174 | ) |  | (1,017 | ) |  | (1,536 | )
Stock-based compensation after income taxes | $ | 4,481 |  |  | $ | 3,837 |  |  | $ | 3,123 |
Schedule of Stock Option Activity | Below is a summary of our stock options as of September 30, 2019 and changes during the twelve months then ended (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, 2018 |  | 3,526 |  |  | $10.49 |  |  |  |
Granted |  | 736 |  |  | 12.01 |  |  |  |
Exercised |  | (540 | ) |  | 9.02 |  |  |  |
Forfeited / Canceled |  | (374 | ) |  | 12.39 |  |  |  |
Balance at September 30, 2019 |  | 3,348 |  |  | $10.85 |  | 4.0 |  | $ | 9,295 |
Exercisable at September 30, 2019 |  | 2,209 |  |  | $16.45 |  | 3.2 |  | $ | 7,027 |
(1) The aggregate intrinsic value represents the total pre-tax intrinsic value, based on our closing stock price of $13.62 as of September 30, 2019, 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 year ended September 30,
| 2019 |  | 2018 |  | 2017
Weighted average per option grant date fair value | $ | 4.48 |  |  | $ | 3.98 |  |  | $ | 4.63 |
Assumptions used for option grants: |  |  |  |  |
Risk free interest rate | 1.60% - 2.93% |  | 2.12% - 2.89% |  | 1.46% - 1.96%
Expected term | 6.00 years |  | 6.00 years |  | 6.00 years
Expected volatility | 33% - 35% |  | 33% - 34% |  | 33% - 34%
Weighted average volatility | 34% |  | 33% |  | 34%
Expected dividend yield | 0% |  | 0% |  | 0%
Schedule of Weighted Average Exercise Price Range and Remaining Contractual Life | As of September 30, 2019, the weighted average exercise price and remaining life of the stock options were (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 - $9.03 |  | 533 |  |  | 3.28 |  | $ | 8.20 |  |  | 524 |  |  | $ | 8.18 |
$9.04 - $9.95 |  | 507 |  |  | 2.37 |  | $ | 9.65 |  |  | 460 |  |  | $ | 9.64 |
$9.96 - $10.40 |  | 481 |  |  | 5.17 |  | $ | 10.34 |  |  | 215 |  |  | $ | 10.34 |
$10.41 - $11.23 |  | 649 |  |  | 3.56 |  | $ | 10.94 |  |  | 416 |  |  | $ | 10.78 |
$11.24 - $12.63 |  | 676 |  |  | 4.85 |  | $ | 12.09 |  |  | 329 |  |  | $ | 12.31 |
$12.64 - $13.76 |  | 491 |  |  | 4.87 |  | $ | 13.57 |  |  | 254 |  |  | $ | 13.50 |
$13.77 - $14.75 |  | 11 |  |  | 1.82 |  | $ | 14.75 |  |  | 11 |  |  | $ | 14.75 |
$7.40 - $14.75 |  | 3,348 |  |  | 4.01 |  | $ | 10.85 |  |  | 2,209 |  |  | $ | 10.45 |
Schedule of Nonvested Restricted Stock Units | Below is a summary of our non-vested restricted stock units as of September 30, 2019 and changes during the twelve months then ended (in thousands, except per common share amounts):
| Number of Awards |  | Weighted Average Grant Date Fair Value
Nonvested at September 30, 2018 | 674 |  |  | $ | 11.05 |
Granted | 626 |  |  | $ | 11.89 |
Vested | (255 | ) |  | $ | 10.45 |
Canceled | (157 | ) |  | $ | 12.04 |
Nonvested at September 30, 2019 | 888 |  |  | $ | 11.65 |

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