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EQUITY-BASED COMPENSATION (Tables)

3 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Equity-Based Compensation Expense

A summary of equity-based compensation expense recognized during the three months ended December 31, 2022 and 2021 is as follows:

			Three months ended December 31,
			2022						2021
Stock options			$	6,288					$	6,624
Restricted stock units			558						—
Equity-based compensation expense			$	6,846					$	6,624

Schedule of Fair Value of Stock Option Awards

The fair value of the stock option awards during the three months ended December 31, 2022 and during the year ended September 30, 2022 was determined on the grant date using the Black-Scholes valuation model based on the following weighted-average assumptions:

			December 31, 2022						September 30, 2022
Expected volatility(1)			54.9		%				55.7		%
Expected dividend yield(2)			—		%				—		%
Expected term(3)			6 years						6 years
Risk-free interest rate(4)			4.0		%				1.6		%

_________________

1.Expected volatility is based on the Company's own share price.

2.The Company has assumed a dividend yield of zero as management has no plans to declare dividends in the foreseeable future.

3.Expected term represents the estimated period of time until an award is exercised and was determined using the simplified method as details of employee exercise behavior are limited due to limited historical data.

4.The risk-free rate is an interpolation of yields on U.S. Treasury securities with maturities equivalent to the expected term.

Schedule of Stock Option Activity

A summary of stock option activity for the three months ended December 31, 2022 is as follows:

			Stock Options						Weighted Average Exercise Price
Outstanding at September 30, 2022			8,222,322						$	25.07
Granted			416,000						21.02
Exercised			(91,930)						17.61
Forfeited			(116,894)						29.41
Outstanding at December 31, 2022			8,429,498						$	24.90
Exercisable at December 31, 2022			4,905,460						$	23.17

Schedule of Share-based Payment Arrangement, Restricted Stock Unit, Activity

A summary of activity related to restricted stock units for the three months ended December 31, 2022 is as follows:

			Restricted Stock Units						Weighted Average Grant Date Fair Value
Outstanding at September 30, 2022			486,652						$	24.93
Granted			145,084						21.39
Vested			—						—
Forfeited			(30,416)						24.14
Outstanding at December 31, 2022			601,320						$	24.21

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Tabular disclosure of share-based payment arrangement.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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