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Significant Accounting Policies (Policies)
 9 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
Consolidation, Policy [Policy Text Block]

Principles of Consolidation and Basis of Presentation

 

The accompanying Condensed Consolidated Financial Statements include the accounts of the Company and all entities where it has a controlling financial interest and have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). All intercompany balances and transactions have been eliminated in consolidation.

 

The accompanying year-end balance sheet as of September 30, 2024 was derived from audited, consolidated financial statements but does not include all disclosures required by GAAP. The unaudited interim Condensed Consolidated Financial Statements have been prepared on the same basis as the audited, consolidated financial statements and in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for a fair statement of the Company’s financial position, results of operations, and cash flows for the periods presented.

 

Certain information and disclosures normally included in the Company’s annual consolidated financial statements have been condensed or omitted and, accordingly, the accompanying financial information should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the fiscal year ended  September 30, 2024 and filed with the U.S. Securities and Exchange Commission (“SEC”) on November 27, 2024 (the “2024 Annual Report on Form 10-K”).

 
Revision of Previously Issued Financial Statements for Error Correction Policy [Policy Text Block]

Revisions to Previously Issued Financial Statements and Financial Information  

 

As previously disclosed in the 2024 Annual Report on Form 10-K, in connection with the preparation of its fiscal year 2024 financial statements, the Company identified classification errors in its Condensed Consolidated Statement of Cash Flows for the year ended  September 30, 2023 and the Condensed Consolidated Statements of Cash Flows for the interim periods ended  March 31, 2023,  June 30, 2023,  December 31, 2023,  March 31, 2024, and  June 30, 2024. Specifically, the Company’s historical classification of the effects of exchange rate changes on the Company’s foreign denominated cash and cash equivalent balances was misclassified between the effects of exchange rate changes on cash and cash equivalents and cash flows from operating activities in its Consolidated Statement of Cash Flows for the year ended  September 30, 2023 and its Condensed Consolidated Statements of Cash Flows for the interim periods ended  June 30, 2023,  December 31, 2023,  March 31, 2024, and  June 30, 2024. Additionally, the Company corrected for immaterial classification errors in between cash flows from operating activities, investing activities and financing activities, and supplemental disclosures for all revised periods. The Company's Condensed Consolidated Statements of Cash Flows for the interim periods ended  March 31, 2023,  June 30, 2023,  December 31, 2023,  March 31, 2024, and  June 30, 2024 have been revised and disclosed in Note 21, Revision of Previously Issued Unaudited Quarterly Information, in the notes to the audited consolidated financial statements included in the section titled “Financial Statements and Supplementary Data” in Part II, Item 8 of the 2024 Annual Report on Form 10-K.

 

The effect on the Condensed Consolidated Statement of Cash Flows for the interim period ended  June 30, 2024 is as follows (in thousands):

 

  

Nine months ended June 30, 2024

 
  

As Reported

  

Adjustments

  

As Revised

 

Cash flows from operating activities

            

Inventories

 $11,433  $2,674  $14,107 

Other assets and liabilities

  7,484   (7,101)  383 

Net cash provided by operating activities

 $36,578  $(4,427) $32,151 
             

Cash flows from investing activities

            

Purchase of property, plant and equipment

 $(25,339) $(2,674) $(28,013)

Net cash used in investing activities

 $29,406  $(2,674) $26,732 
             

Effects of exchange rate changes on cash and cash equivalents

 $8,495  $7,101  $15,596 
             

Supplemental disclosures:

            

Purchases of property, plant and equipment included in accounts payable and accrued expenses

 $2,203  $372  $2,575 

 

The Company assessed the effect of the errors on prior periods under the guidance of SEC Staff Accounting Bulletin No. 99, Materiality, codified in ASC 250, Accounting Changes and Error Corrections. Based on its assessment, the Company determined that the error correction is not material to any previously issued financial statements. The correction has no impact on the Company's previously reported consolidated net income, financial position, net change in cash, cash equivalents, and restricted cash, or total cash, cash equivalents, and restricted cash as previously reported on the Company's Consolidated Statements of Cash Flows. 

 
Reclassification, Comparability Adjustment [Policy Text Block]

Reclassification

 

A previously reported amount has been reclassified to conform to the current period presentation. The derivative liability was included in “Accrued expenses and other current liabilities” as of  September 30, 2024 in the Condensed Consolidated Balance Sheets and has been conformed for the current period.  

 
Use of Estimates, Policy [Policy Text Block]

Use of Estimates

 

The preparation of financial statements in accordance with GAAP requires management to make certain estimates and assumptions that affect amounts reported in the financial statements and notes thereto. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may differ from these estimates. Estimates are associated with recording accounts receivable, inventories, goodwill, intangible assets other than goodwill, long-lived assets, derivative financial instruments, deferred income taxes, warranty obligations, revenue over time, stock-based compensation expense, and other accounts. The Company assesses the estimates on an ongoing basis and records changes in estimates in the period they occur and become known.

 
Foreign Currency Transactions and Translations Policy [Policy Text Block]

Foreign Currency Translation

 

Certain transactions of the Company and its subsidiaries are denominated in currencies other than their functional currency. Foreign currency exchange gains (losses) generated from the settlement and remeasurement of these transactions are recognized in earnings and presented within “Other income” in the Condensed Consolidated Statements of Operations. Net foreign currency transaction and remeasurement loss were $0.2 million and $0.5 million for the three months ended June 30, 2025 and 2024, respectively. Net foreign currency transaction and remeasurement loss were $1.3 million and $1.5 million during the nine months ended June 30, 2025 and 2024, respectively. 

 
New Accounting Pronouncements, Policy [Policy Text Block]

Recently Issued Accounting Pronouncements

 

In November 2023, the FASB issued Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The ASU requires the disclosure of incremental segment information on an annual and interim basis, primarily through enhanced disclosures pertaining to significant segment expenses. This update is effective for annual periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, and requires retrospective application to all prior periods presented in the financial statements. The Company does not expect the adoption of this standard to impact its disclosures at the end of fiscal year 2025.

 

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The ASU is intended to enhance the transparency and decision usefulness of income tax disclosures primarily through changes to the rate reconciliation and income taxes paid information. This update is effective for annual periods beginning after  December 15, 2024, though early adoption is permitted. The Company does not expect the adoption of this standard to impact its disclosures until fiscal year 2026.

 

 

In 2021, the Organization of Economic Cooperation and Development introduced its Pillar II Framework Model Rules (“Pillar 2”), which are designed to impose a 15% global minimum tax on the earnings of in-scope multinational corporations on a country-by-country basis. Certain aspects of Pillar 2 took effect on  January 1, 2024 while other aspects go into effect on  January 1, 2025. The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements as the Company does not expect to meet the consolidated revenue threshold of €750 million over the next twelve months.

 

In November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures: Disaggregation of Income Statement Expenses. The ASU requires companies to disaggregate operating expenses into specific categories such as employee compensation, depreciation, and intangible asset amortization, by relevant expense caption on the statement of operations. Additionally, in January 2025, the FASB issued ASU 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures, to clarify the effective date of ASU 2024-03. ASU 2025-01 is effective for fiscal years beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027, on a retrospective or prospective basis, with early adoption permitted. The Company is currently evaluating the standard to determine the impact of adoption on its consolidated financial statements and disclosures.

 

Other

 

For further information regarding the Company’s significant accounting policies, please refer to Note 2, Summary of Significant Accounting Policies in the notes to the audited consolidated financial statements included in the section titled “Financial Statements and Supplementary Data” in Part II, Item 8 of the 2024 Annual Report on Form 10-K. There were no material changes to the Company’s critical accounting policies during the nine months ended June 30, 2025.