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Note 9 - Leases - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Sep. 30, 2024 | Sep. 30, 2023
Income Statement [Abstract] |  |
Revenue from Contract with Customer, Excluding Assessed Tax | $ 135,598 | $ 124,509
Notes to Financial Statements |  |
Leases Disclosure [Text Block] | 9. Leases As Lessee The Company has elected not to record operating right-of-use assets or operating lease liabilities on its consolidated balance sheet for leases having a minimum term of 12 months or less. Such leases are expensed on a straight-line basis over the lease term. Variable lease payments are excluded from the measurement of operating right-of-use assets and operating liabilities and recognized in the period in which the obligation for those payments is incurred. As of September 30, 2024, the Company has two operating right-of use assets related to leased facilities in Austin, Texas and Melbourne, Florida. Maturities of the operating lease liabilities as of September 30, 2024 were as follows (in thousands):
For fiscal years ending September 30, |  |  |  |
2025 |  |  | 186 |
2026 |  |  | 130 |
2027 |  |  | 134 |
2028 |  |  | 93 |
Future minimum lease payments |  | $ | 543 |
Less interest |  |  | (31 | )
Present value of minimum lease payments |  | $ | 512 |
Less current portion |  |  | (173 | )
Long-term portion |  | $ | 339 |
Lease costs recognized in the consolidated statements of operations for the fiscal years ended September 30, 2024 and 2023 is as follows (in thousands):
|  | YEAR ENDED SEPTEMBER 30, |
|  | 2024 |  |  | 2023 |
Right-of-use operating lease costs |  | $ | 271 |  |  | $ | 272 |
Short-term lease costs |  |  | 123 |  |  |  | 220 |
Total |  | $ | 394 |  |  | $ | 492 |
Right-of-use operating lease costs and short-term lease costs are included as a component of total operating expenses. Other information related to operating leases is as follows (in thousands):
|  | YEAR ENDED SEPTEMBER 30, |
|  | 2024 |  |  | 2023 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 278 |  |  | $ | 270 |
Weighted average remaining lease term |  | 3.4 years |  |  | 3.9 years |
Weighted average discount rate |  |  | 3.25 | % |  |  | 3.25 | %
The discount rate used on the operating right-of-use assets represented the Company’s incremental borrowing rate at lease inception. As Lessor Equipment The Company leases equipment to customers which generally range from daily rentals to minimum rental periods of up to one year. All of the Company's current leasing arrangements, with the Company acting as lessor, are classified as operating leases. The majority of the Company’s rental revenue is generated from its marine-based wireless seismic data acquisition system. The Company regularly evaluates the collectability of its lease receivables on a lease-by-lease basis. The evaluation primarily consists of reviewing past due account balances and other factors such as the credit quality of the customer, historical trends of the customer and current economic conditions. The Company suspends revenue recognition when the collectability of amounts due are no longer probable and concurrently records a direct write-off of the lease receivable to rental revenue to limit rental revenue recognized to the cash collections received. As of September 30, 2024, the Company’s trade accounts receivables included lease receivables of $1.0 million. Rental revenue related to leased equipment for fiscal years 2024 and 2023 was $19.3 million and $51.0 million, respectively. Future minimum lease obligations due from the Company's leasing customers as of September 30, 2024 were $15.2 million, the majority of which is due within the next 12 months. Rental equipment consisted of the following (in thousands):
|  | AS OF SEPTEMBER 30, |
|  | 2024 |  |  | 2023 |
Rental equipment, primarily wireless recording equipment |  | $ | 63,111 |  |  | $ | 82,926 |
Accumulated depreciation and impairment |  |  | (48,925 | ) |  |  | (61,339 | )
|  | $ | 14,186 |  |  | $ | 21,587 |
Rental equipment depreciation expense was $10.8 million and $11.8 million in fiscal years 2024 and 2023, respectively. Property During the first quarter of fiscal year 2022, the Company leased a portion of its property located in Calgary, Alberta, Canada and fully leased its warehouse in Bogotá, Colombia. The lease in Canada commenced in November 2021 and is for a five-year term. The lease on the warehouse in Bogotá commenced in December 2021 and is currently on a month-to-month basis. Rental revenue related to these two properties was $0.3 million and $0.2 million in fiscal years 2024 and 2023, respectively. Future minimum lease payments due to the Company as of September 30, 2024 were as follows (in thousands):
For fiscal years ending September 30, |  |  |  |
2025 |  |  | 131 |
2026 |  |  | 132 |
2027 |  |  | 11 |
|  | $ | 274 |

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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 924 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 11.L) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479941/924-10-S99-1 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-4 + Details
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