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Stock-Based Compensation (Tables) | 9 Months Ended
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Jun. 30, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock-Based Compensation Expense | The following table shows stock-based compensation expense that is included in the consolidated results of operations (in thousands):
| Three months ended June 30, |  | Nine months ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Cost of sales | $ | 199 |  |  | $ | 173 |  |  | $ | 588 |  |  | $ | 529 |
Sales and marketing | 1,316 |  |  | 1,218 |  |  | 3,935 |  |  | 3,594 |
Research and development | 604 |  |  | 517 |  |  | 1,761 |  |  | 1,448 |
General and administrative | 1,755 |  |  | 1,606 |  |  | 5,094 |  |  | 4,522 |
Stock-based compensation before income taxes | 3,874 |  |  | 3,514 |  |  | 11,378 |  |  | 10,093 |
Income tax benefit | (836) |  |  | (724) |  |  | (2,437) |  |  | (2,138) |
Stock-based compensation after income taxes | $ | 3,038 |  |  | $ | 2,790 |  |  | $ | 8,941 |  |  | $ | 7,955 |
Schedule of Stock Option Activity | The following table summarizes our stock option activity (in thousands, except per common share amounts):
|  | Options Outstanding |  | Weighted Average Exercise Price |  | Weighted Average Contractual Term (in years) |  | Aggregate Intrinsic Value (1)
Balance on September 30, 2024 |  | 1,382 |  |  | $19.01 |  |  |  |
Granted |  | 63 |  |  | 31.56 |  |  |  |
Exercised |  | (537) |  |  | 16.01 |  |  |  |
Forfeited / Canceled |  | (18) |  |  | 30.81 |  |  |  |
Balance on June 30, 2025 |  | 890 |  |  | $21.45 |  | 3.1 |  | $ | 11,766 |
Exercisable on June 30, 2025 |  | 689 |  |  | $19.82 |  | 2.5 |  | $ | 10,540 |
(1) The aggregate intrinsic value represents the total pre-tax intrinsic value, based on our closing stock price of $34.86 as of June 30, 2025, 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 following table 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:
| Nine months ended June 30,
| 2025 |  | 2024
Weighted average per option grant date fair value | $16.23 |  | $12.44
Assumptions used for option grants: |  |  |
Risk free interest rate | 4.31% - 4.38% |  | 4.48% - 4.68%
Expected term | 6.00 years |  | 6.00 years
Expected volatility | 48% |  | 46% - 47%
Weighted average volatility | 48% |  | 46%
Expected dividend yield | — |  | —
Schedule of Nonvested Restricted Stock Units | The following table presents a summary of our non-vested restricted stock units and performance stock units as of June 30, 2025 and changes during the nine months then ended (in thousands, except per common share amounts):
| RSUs |  | PSUs
| Number of Awards |  | Weighted Average Grant Date Fair Value |  | Number of Awards |  | Weighted Average Grant Date Fair Value
Nonvested on September 30, 2024 | 846 |  |  | $ | 30.15 |  |  | 220 |  |  | $ | 30.55 |
Granted | 445 |  |  | 32.22 |  |  | 162 |  |  | 32.64 |
Vested | (265) |  |  | 27.13 |  |  | (54) |  |  | 30.57 |
Canceled | (56) |  |  | 30.43 |  |  | (4) |  |  | 19.78 |
Nonvested on June 30, 2025 | 970 |  |  | $ | 31.92 |  |  | 324 |  |  | $ | 31.71 |

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