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Stockholders' Equity (Tables)

3 Months Ended

Dec. 31, 2021

Equity [Abstract]

Schedule of stockholders' equity

The changes in stockholders’ equity for the prior year comparable period is as follows:

			Common Stock																		Treasury Stock
(dollars in thousands)			Shares						Amount						Additional Paid-in Capital						Shares						Amount						Accumulated Other Comprehensive Loss						Accumulated Deficit						Total
Balance at September 30, 2020			34,082,406						$	34					$	247,892					$	(547,508)					$	(3,983)					$	(9,782)					$	(122,346)					$	111,815
Net income			—						—						—						—						—						—						4,514						4,514
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units			151,845						—						197						—						—						—						—						197
Taxes paid associated with net settlement of stock compensation awards			(7,703)						—						(57)						—						—						—						—						(57)
Forfeitures of restricted stock awards			(13,733)						—						—						—						—						—						—						—
Common stock repurchased			—						—						—						(309,496)						(4,103)						—						—						(4,103)
Common stock surrendered in the exercise of stock options			—						—						169						(9,384)						(169)						—						—						—
Stock compensation expense			—						—						1,801						—						—						—						—						1,801
Foreign currency translation			—						—						—						—						—						896						—						896
Balance at December 31, 2020			34,212,815						$	34					$	250,002					$	(866,388)					$	(8,255)					$	(8,886)					$	(117,832)					$	115,063

Share-based payment arrangement, expensed and capitalized, amount

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

			Three Months Ended December 31,
			2021						2020
Equity-classified awards:
Stock options			$	1,077					$	884
RSUs & RSAs			1,193						918
Total equity-classified awards			$	2,270					$	1,802
Liability-classified awards:
SARs			10						427
Total stock compensation expense:			$	2,280					$	2,229

The table below presents the components of share-based compensation expense by line item within our Condensed Consolidated Statement of Operations (in thousands):

			Three Months Ended December 31,
			2021						2020
Stock Compensation Expense by Line Item
Technology and operations			$	303					$	367
Sales and marketing			490						580
General and administrative			1,487						1,282
Total stock compensation expense:			$	2,280					$	2,229

Summary of stock options and restricted stock granted

The following table presents stock option and RSUs & RSAs grant activity:

			Three Months Ended
			December 31, 2021
Stock Options granted:
Options containing only service conditions:			129,945
Weighted average exercise price			$	23.14
Weighted average grant date fair value			$	10.83
Options containing performance or market conditions:			129,945
Weighted average exercise price			$	23.14
Weighted average grant date fair value			$	10.30
RSUs & RSAs granted:
RSUs & RSAs containing only service conditions:1			316,085
Weighted average grant date fair value			$	22.10
RSUs & RSAs containing performance or market conditions:1			331,085
Weighted average grant date fair value			$	18.80

________________

1 55,000 RSUs containing service conditions and 70,000 RSUs containing performance conditions were granted by private placement.

Schedule of share-based payment award, stock options, valuation assumptions

The range of assumptions used to determine the fair value of stock options containing only service conditions using the Black-Scholes option-pricing model during the three months ended December 31, 2021 were as follows:

						Three Months Ended
						December 31, 2021
Dividend yield						—
Expected volatility						58.7% - 61.2%
Risk-free interest rate						1.1% - 1.3%
Expected term						4.5 - 5.0 years

Schedule of share-based payment award, valuation assumptions

The range of assumptions used to determine the fair value of stock options and RSUs & RSAs containing market conditions using Monte Carlo simulations during the three months ended December 31, 2021 were as follows:

						Three Months Ended
						December 31, 2021
Dividend yield						—
Expected volatility						57.2% - 62.9%
Risk-free interest rate						1.1% - 1.5%
Expected holding period (% of remaining term)						29.4% - 100.0%

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