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Equity Transactions (Tables)

12 Months Ended

Sep. 30, 2021

Stockholders' Equity Note [Abstract]

Summary of share-based compensation expense

The table below presents the components of share-based compensation expense (in thousands):

						Year Ended September 30,
						2021						2020						2019
Equity-classified awards:
Stock options						$	3,117					$	2,054					$	1,530
RSUs & RSAs						2,977						3,635						4,496
Liability-classified awards:
SARs						$	853					$	(29)					$	482
Total stock compensation expense:						$	6,947					$	5,660					$	6,508

Summary of stock option activity

The table below presents stock option activity (aggregate intrinsic value in thousands):

						Stock Options						Weighted- Average Exercise Price						Weighted- Average Remaining Contractual Term (years)						Aggregate Intrinsic Value
Outstanding as of September 30, 2020						3,075,914						$	8.54					6.16						$	2,841
Granted						1,108,273						$	10.60											$	—
Exercised						(1,033,529)						$	6.59											$	15,036
Forfeited						(272,720)						$	7.82											$	2,547
Expired						(33,653)						$	15.35											$	108
Outstanding as of September 30, 2021						2,844,285						$	10.04					6.14						$	34,877
Vested and expected to vest as of September 30, 2021						2,810,202						$	9.94					6.10						$	34,775
Exercisable as of September 30, 2021						1,477,408						$	10.37					4.24						$	18,589

Summary of fair value assumptions, stock options

The range of assumptions used to determine the fair value of stock options using the Black-Scholes option-pricing model during the years ended September 30, 2021, 2020 and 2019 were as follows:

						Year ended September 30
						2021						2020						2019
Dividend yield						—						—						—
Expected volatility						51.0% - 55.9%						46.5% - 51.0%						47.8% - 53.7%
Risk-free interest rate						0.4% - 0.8%						0.5% - 1.5%						1.9% - 2.8%
Expected term						4.6- 7.6 years						4.6 - 7.4 years						4.2 - 7.1 years

Summary of RSU and RSA Activity

The table below presents RSU & RSA activity (aggregate fair value in thousands):

						RSU & RSA						Weighted- Average Grant Date Fair Value						Weighted- Average Remaining Contractual Term (years)						Aggregate Fair Value
Outstanding as of September 30, 2020						1,545,285						$	6.84					1.85						$	11,528
Granted						330,545						$	14.08											$	4,653
Vested						(811,773)						$	6.78											$	13,780
Forfeited						(146,676)						$	8.98											$	2,688
Outstanding as of September 30, 2021						917,381						$	9.15					1.98						$	19,825
Expected to vest as of September 30, 2021						666,092						$	10.17					2.35						$	14,394

Summary of stock appreciation right activity

The table below presents SAR award activity (aggregate intrinsic value in thousands):

						SARs						Weighted- Average Exercise Price						Weighted- Average Remaining Contractual Term (years)						Aggregate Intrinsic Value
Outstanding as of September 30, 2020						160,810						$	8.45					1.00						$	96
Exercised						(45,084)						$	8.45											$	443
Forfeited						(73,681)						$	9.80											$	213
Outstanding as of September 30, 2021						42,045						$	6.11					1.26						$	652
Vested and expected to vest as of September 30, 2021						42,045						$	6.11					1.26						$	652
Exercisable as of September 30, 2021						12,045						$	6.11					1.26						$	187

Summary of fair value assumptions, stock appreciation rights

The range of assumptions used to determine the fair value of outstanding SARs as of September 30, 2021, 2020 and 2019 were as follows:

						Year ended September 30
						2021						2020						2019
Dividend yield						—						—						—
Expected volatility						78.3% - 78.3%						55.0% - 68.8%						38.2% - 48.8%
Risk-free interest rate						0.1% - 0.1%						0.1% - 0.1%						1.3% - 1.7%
Expected term						1.3-1.3 years						0.0-2.3 years						0.1-3.3 years

Summary of fair value assumptions

The fair value of stock options, RSUs and SARs containing market conditions is estimated using Monte Carlo simulations. The range of assumptions used to determine the fair value of these awards during the years ended September 30, 2021, 2020 and 2019 were as follows:

						Year ended September 30
						2021						2020						2019
Dividend yield						—						—						—
Expected volatility						51.6% - 54.6%						45.2% - 54.9%						45.5% - 55.0%
Risk-free interest rate						0.3% - 0.9%						0.1% - 1.7%						1.5% - 2.9%
Expected holding period (% of remaining term)						31.7% - 100.0%						30.7% - 100.0%						25.9% - 100.0%

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