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Share-Based Compensation (Tables)
9 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity

A summary of the activity in options of the Company as of June 30, 2025, is presented below:

 

 

Number of
Shares

 

 

Weighted
Average
Exercise Price

 

Outstanding September 30, 2024

 

 

3,695,740

 

 

$

2.84

 

Granted

 

 

1,063,250

 

 

$

2.76

 

Forfeited/expired

 

 

(358,125

)

 

$

4.22

 

Exercised

 

 

(24,147

)

 

$

1.78

 

Outstanding June 30, 2025

 

 

4,376,718

 

 

$

2.72

 

Exercisable June 30, 2025

 

 

1,383,228

 

 

$

3.02

 

Summary of Stock Options Outstanding

The following table summarizes information about stock options outstanding as of June 30, 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

 

 

1,625,665

 

 

 

6.08

 

 

$

2.14

 

 

 

229,101

 

 

$

1.73

 

$2.64-$2.70

 

 

1,538,000

 

 

 

4.86

 

 

$

2.69

 

 

 

387,459

 

 

$

2.69

 

$3.09-$3.56

 

 

1,126,053

 

 

 

3.52

 

 

$

3.39

 

 

 

685,231

 

 

$

3.36

 

$3.95-$6.87

 

 

87,000

 

 

 

3.08

 

 

$

5.21

 

 

 

81,437

 

 

$

5.25

 

 

 

 

4,376,718

 

 

 

4.93

 

 

$

2.72

 

 

 

1,383,228

 

 

$

3.02

 

Summary of Weighted Average Assumptions The weighted average estimated fair value of employee stock options granted during the nine months ended June 30, 2025 and 2024, was calculated using the Black-Scholes option-pricing model with the following weighted average assumptions (annualized percentages):

 

 

Nine Months Ended June 30,

 

 

2025

 

 

2024

 

Volatility

 

 

60.8

%

 

 

57.7

%

Risk-free interest rate

 

 

4.1

%

 

 

4.3

%

Dividend yield

 

 

0.0

%

 

 

0.0

%

Expected term in years

 

 

3.7

 

 

 

4.2

 

Summary of Company's RSU Activity

A summary of the Company’s RSUs as of June 30, 2025, is presented below:

 

 

Number of
Shares

 

 

Weighted
Average Grant
Date Fair Value

 

Outstanding September 30, 2024

 

 

288,059

 

 

$

2.78

 

Granted

 

 

253,816

 

 

$

2.35

 

Vested

 

 

(234,533

)

 

$

2.56

 

Forfeited/cancelled

 

 

 

 

$

 

Outstanding June 30, 2025

 

 

307,342

 

 

$

2.59

 

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
June 30,

 

 

Nine Months Ended
June 30,

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Cost of revenues

 

$

18

 

 

$

27

 

 

$

55

 

 

$

69

 

Selling, general and administrative

 

 

384

 

 

 

243

 

 

 

1,048

 

 

 

1,071

 

Research and development

 

 

57

 

 

 

29

 

 

 

161

 

 

 

129

 

 

$

459

 

 

$

299

 

 

$

1,264

 

 

$

1,269