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Equity and Stock-Based Compensation | 3 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Equity and Stock-Based Compensation | 8. Equity and Stock-Based Compensation Stock-based compensation expense was $0.3 million in the three months ended December 31, 2024 and 2023, respectively. Stock-based compensation expense is included in selling, general and administrative expenses. The following table summarizes our stock option activity during the three months ended December 31, 2024:
|  | Options |  |  | Weighted Average Exercise Price |
Outstanding at beginning of period |  |  | 1,087,016 |  |  | $ | 6.97 |
Granted |  |  | 10,000 |  |  |  | 5.55 |
Exercised |  |  | (30,187 | ) |  |  | 4.97 |
Forfeited |  |  | (65,130 | ) |  |  | 8.90 |
Outstanding at end of period |  |  | 1,001,699 |  |  | $ | 6.89 |
Exercisable at end of period |  |  | 474,368 |  |  | $ | 7.72 |
Weighted average fair value of options granted during the period |  | $ | 3.06 |  |  |  |
The fair value of options was estimated at the applicable grant date using the Black-Scholes option pricing model with the following assumptions:
|  | Three Months Ended December 31, |
|  | 2024 |  |  | 2023 |
Risk free interest rate |  |  | 4 | % |  |  | 4 | %
Expected term |  | 5 years |  |  | 5 years |
Dividend rate |  |  | — | % |  |  | — | %
Volatility |  |  | 61 | % |  |  | 56 | %
The following table summarizes our RSU activity during the three months ended December 31, 2024:
|  | Number |  |  | Weighted Average Grant Date Fair Value |
Nonvested at beginning of year |  |  | 24,897 |  |  | $ | 4.82 |
Granted |  |  | — |  |  |  | — |
Released |  |  | — |  |  |  | — |
Forfeited |  |  | — |  |  |  | — |
Nonvested at end of period |  |  | 24,897 |  |  | $ | 4.82 |

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