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Stockholders' Equity
 6 Months Ended
Mar. 31, 2025
Equity [Abstract]  
Stockholders' Equity

17. STOCKHOLDERS’ EQUITY

Summary

The following table summarizes changes in the components of stockholders’ equity during the six months ended March 31, 2025 and 2024, respectively (amounts in thousands, except par value and share amounts):

 

 

Common Stock

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares

 

 

Par Value
Amount

 

 

Additional
Paid-in
Capital

 

 

Accumulated
Deficit

 

 

Accumulated
Other
Comprehensive
Loss

 

 

Total
Stockholders'
Equity

 

Balance as of September 30, 2024

 

 

44,631,030

 

 

$

446

 

 

$

125,690

 

 

$

(107,792

)

 

$

(335

)

 

$

17,563

 

Share-based compensation expense

 

 

—

 

 

 

—

 

 

 

391

 

 

 

—

 

 

 

—

 

 

 

391

 

Issuance of common stock upon exercise
  of stock options, net

 

 

667

 

 

 

—

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

1

 

Issuance of common stock upon vesting
  of restricted stock units

 

 

27,666

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Obligation to issue common stock in Evertel acquisition

 

 

270,271

 

 

 

3

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Accumulated other comprehensive loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(207

)

 

 

(207

)

Net loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(4,078

)

 

 

—

 

 

 

(4,078

)

Balance as of December 31, 2024

 

 

44,929,634

 

 

$

449

 

 

$

126,082

 

 

$

(111,870

)

 

$

(542

)

 

$

13,670

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Share-based compensation expense

 

 

—

 

 

$

—

 

 

$

414

 

 

$

—

 

 

$

—

 

 

$

414

 

Issuance of common stock upon exercise of
  stock options, net

 

 

23,480

 

 

 

—

 

 

 

42

 

 

 

—

 

 

 

—

 

 

 

42

 

Issuance of common stock upon vesting of
   restricted stock units

 

 

201,390

 

 

 

2

 

 

 

(18

)

 

 

—

 

 

 

—

 

 

 

(18

)

Accumulated other comprehensive income

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

87

 

 

 

87

 

Net loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(6,139

)

 

 

—

 

 

 

(6,139

)

Balance as of March 31, 2025

 

 

45,154,504

 

 

$

451

 

 

$

126,520

 

 

$

(118,009

)

 

$

(455

)

 

$

8,056

 

 

 

Common Stock

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares

 

 

Par Value
Amount

 

 

Additional
Paid-in
Capital

 

 

Accumulated
Deficit

 

 

Accumulated
Other
Comprehensive
Loss

 

 

Total
Stockholders'
Equity

 

Balance as of September 30, 2023

 

 

37,211,071

 

 

$

372

 

 

$

110,379

 

 

$

(76,062

)

 

$

(505

)

 

$

33,812

 

Share-based compensation expense

 

 

—

 

 

 

—

 

 

 

446

 

 

 

—

 

 

 

—

 

 

 

446

 

Issuance of common stock upon offering, net of
   issuance costs

 

 

5,750,000

 

 

 

57

 

 

 

10,449

 

 

 

—

 

 

 

—

 

 

 

10,449

 

Issuance of common stock upon vesting of restricted stock units

 

 

10,000

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Issuance of common stock in business combination

 

 

986,486

 

 

 

10

 

 

 

1,924

 

 

 

—

 

 

 

—

 

 

 

1,924

 

Obligation to issue common stock

 

 

—

 

 

 

—

 

 

 

527

 

 

 

—

 

 

 

—

 

 

 

527

 

Release of obligation to issue common stock

 

 

69,564

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Accumulated other comprehensive loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

119

 

 

 

119

 

Net loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(6,724

)

 

 

—

 

 

 

(6,724

)

Balance as of December 31, 2023

 

 

44,027,121

 

 

$

440

 

 

$

123,725

 

 

$

(82,786

)

 

$

(386

)

 

$

40,553

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Share-based compensation expense

 

 

—

 

 

$

—

 

 

$

524

 

 

$

—

 

 

$

—

 

 

$

524

 

Issuance of common stock upon vesting of
   restricted stock units

 

 

229,233

 

 

 

2

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Shares retained for payment of taxes in
   connection with settlement of restricted stock
   units

 

 

(6,846

)

 

 

—

 

 

 

(12

)

 

 

—

 

 

 

—

 

 

 

(12

)

Settlement of contingent consideration in shares
   of common stock

 

 

236,343

 

 

 

3

 

 

 

656

 

 

 

—

 

 

 

—

 

 

 

656

 

Obligation to issue common stock

 

 

—

 

 

 

—

 

 

 

158

 

 

 

—

 

 

 

—

 

 

 

158

 

Accumulated other comprehensive loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(59

)

 

 

(59

)

Net loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(6,938

)

 

 

—

 

 

 

(6,938

)

Balance as of March 31, 2024

 

 

44,485,851

 

 

$

445

 

 

$

125,051

 

 

$

(89,724

)

 

$

(445

)

 

$

34,882

 

 

Common stock activity

In connection with the Evertel acquisition, the Company issued 986,486 shares of common stock to the former owners of Evertel. The fair value of the Company’s stock on the closing date was $1.95 which resulted in the addition of $1,924 to additional-paid-in-capital. The Company also issued 236,343 shares of common stock to the former owners of Evertel, in connection with the settlement of a portion of the contingent consideration liability. This resulted in the addition of $656 to additional-paid-in-capital.

Under the terms of the Purchase Agreement, the Company recorded an obligation to issue 81,083 shares of common stock to the former owners of Evertel and three key employees during the three months ended June 30, 2024, resulting in an addition of $158 to additional-paid-in-capital. Also, in connection with the Evertel acquisition, the Company issued 270,271 shares of the Company’s common stock to the seller of Evertel twelve months from the closing date. The fair value of the Company’s common stock on the closing date was $1.95, resulting in the addition of $527 to additional paid-in-capital.

During the six months ended March 31, 2024, the Company issued the final 69,564 shares to the former owners of the Amika Mobile assets in connection with the Amika Mobile asset purchase.

Share buyback program

In December 2022, the Board of Directors extended the Company’s share buyback program through December 31, 2024. Under the program, the Company was authorized to repurchase up to $5,000 of its outstanding common shares and expired on December 31, 2024.

There were no shares repurchased during the six months ended March 31, 2025 and 2024. All repurchased shares have been retired.

Dividends

There were no dividends declared in the six months ended March 31, 2025 and 2024.