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Share-Based Compensation (Tables)
6 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity

A summary of the activity in options of the Company as of March 31, 2025, is presented below:

 

 

Number of
Shares

 

 

Weighted
Average
Exercise Price

 

Outstanding September 30, 2024

 

 

3,695,740

 

 

$

2.84

 

Granted

 

 

1,010,250

 

 

$

2.82

 

Forfeited/expired

 

 

(206,458

)

 

$

4.91

 

Exercised

 

 

(24,147

)

 

$

1.78

 

Outstanding March 31, 2025

 

 

4,475,385

 

 

$

2.75

 

Exercisable March 31, 2025

 

 

1,358,716

 

 

$

3.02

 

Summary of Stock Options Outstanding

The following table summarizes information about stock options outstanding as of March 31, 2025:

 

Range of
Exercise Prices

 

Number
Outstanding

 

 

Weighted
Average
Remaining
Contractual
Term

 

 

Weighted
Average
Exercise
Price

 

 

Number
Exercisable

 

 

Weighted
Average
Exercise
Price

 

$1.70-$2.59

 

 

1,574,332

 

 

 

6.20

 

 

$

2.15

 

 

 

216,933

 

 

$

1.70

 

$2.64-$2.70

 

 

1,538,000

 

 

 

5.11

 

 

$

2.69

 

 

 

383,709

 

 

$

2.69

 

$3.09-$3.55

 

 

1,234,053

 

 

 

3.71

 

 

$

3.37

 

 

 

679,262

 

 

$

3.36

 

$3.56-$6.87

 

 

129,000

 

 

 

5.46

 

 

$

4.67

 

 

 

78,812

 

 

$

5.27

 

 

 

 

4,475,385

 

 

 

5.12

 

 

$

2.75

 

 

 

1,358,716

 

 

$

3.02

 

Summary of Weighted Average Assumptions The weighted average estimated fair value of employee stock options granted during the six months ended March 31, 2025 and 2024, was calculated using the Black-Scholes option-pricing model with the following weighted average assumptions (annualized percentages):

 

 

Six Months Ended March 31,

 

 

2025

 

 

2024

 

Volatility

 

 

60.7

%

 

 

57.8

%

Risk-free interest rate

 

 

4.1

%

 

 

4.3

%

Dividend yield

 

 

0.0

%

 

 

0.0

%

Expected term in years

 

 

3.6

 

 

 

4.2

 

Summary of Company's RSU Activity

A summary of the Company’s RSUs as of March 31, 2025, is presented below:

 

 

Number of
Shares

 

 

Weighted
Average Grant
Date Fair Value

 

Outstanding September 30, 2024

 

 

288,059

 

 

$

2.78

 

Granted

 

 

243,816

 

 

$

2.27

 

Vested

 

 

(234,533

)

 

$

2.56

 

Forfeited/cancelled

 

 

 

 

$

 

Outstanding March 31, 2025

 

 

297,342

 

 

$

2.53

 

Summary of Share-based Compensation Expense

The Company recorded share-based compensation expense and classified it in the condensed consolidated statements of operations as follows:

 

 

Three Months Ended
March 31,

 

 

Six Months Ended
March 31,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Cost of revenues

 

$

20

 

 

$

28

 

 

$

37

 

 

$

42

 

Selling, general and administrative

 

 

338

 

 

 

439

 

 

 

664

 

 

 

827

 

Research and development

 

 

56

 

 

 

57

 

 

 

104

 

 

 

101

 

 

$

414

 

 

$

524

 

 

$

805

 

 

$

970