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Supporting Financial Information | 12 Months Ended
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Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Supporting Financial Information | Supporting Financial Information Accounts receivable
|  | (in thousands)
|  | September 30, |  | September 30,
| Ref | 2019 |  | 2018
Billed receivables |  | $ | 18,924 |  |  | $ | 10,066 |
Contract assets |  | 4,302 |  |  | 214 |
Total accounts receivable |  | 23,226 |  |  | 10,280 |
Less: Allowance for doubtful accounts | (a) | — |  |  | — |
Accounts receivable, net |  | $ | 23,226 |  |  | $ | 10,280 |
Ref (a): Accounts receivable are non-interest bearing, unsecured and carried at net realizable value. We evaluate our receivables on a quarterly basis and determine whether an allowance is appropriate based on specific collection issues. No allowance for doubtful accounts was deemed necessary at either September 30, 2019 or September 30, 2018. Other current assets
|  | (in thousands)
|  | September 30, |  | September 30,
|  | 2019 |  | 2018
Prepaid insurance and benefits |  | $ | 495 |  |  | $ | 401 |
Other receivables |  | 301 |  |  | 319 |
Prepaid expenses |  | 1,035 |  |  | 40 |
Other current assets |  | $ | 1,831 |  |  | $ | 760 |
Equipment and improvements, net
|  | (in thousands)
|  | September 30, |  | September 30,
| Ref | 2019 |  | 2018
Furniture and equipment |  | $ | 1,262 |  |  | $ | 326 |
Computer equipment |  | 1,043 |  |  | 751 |
Computer software |  | 3,985 |  |  | 1,731 |
Leasehold improvements |  | 1,595 |  |  | 66 |
Total equipment and improvements |  | 7,885 |  |  | 2,874 |
Less accumulated depreciation and amortization |  | (2,542 | ) |  | (1,308 | )
Equipment and improvements, net | (a) | $ | 5,343 |  |  | $ | 1,566 |
Ref (a): Equipment and improvements are stated at cost. Depreciation and amortization are provided using the straight-line method over the estimated useful asset lives (3 to 7 years) and the shorter of the initial lease term or estimated useful life for leasehold improvements. Maintenance and repair costs are expensed as incurred. Depreciation and amortization was $1.2 million and $0.5 million for the years ended September 30, 2019 and 2018, respectively. Intangible assets, net
|  | (in thousands)
|  | September 30, |  | September 30,
| Ref | 2019 |  | 2018
Intangible assets | (a) |  |  |
Customer contracts and related customer relationships |  | $ | 45,600 |  |  | $ | 16,626 |
Covenants not to compete |  | 480 |  |  | 480 |
Trade name |  | 2,109 |  |  | 517 |
Total intangible assets |  | 48,189 |  |  | 17,623 |
Less accumulated amortization |  |  |  |
Customer contracts and related customer relationships |  | (6,590 | ) |  | (4,018 | )
Covenants not to compete |  | (164 | ) |  | (116 | )
Trade name |  | (227 | ) |  | (124 | )
Total accumulated amortization |  | (6,981 | ) |  | (4,258 | )
Intangible assets, net |  | $ | 41,208 |  |  | $ | 13,365 |
Ref (a): Intangible assets are amortized on a straight-line basis over their estimated useful lives of 10 years. Total amount of amortization expense for the year ended September 30, 2019 and 2018 was $2.7 million and $1.8 million, respectively.
Estimated amortization expense for future years: |  | (in thousands)
Fiscal 2020 |  | $ | 4,723 |
Fiscal 2021 |  | 4,723 |
Fiscal 2022 |  | 4,723 |
Fiscal 2023 |  | 4,723 |
Thereafter |  | 22,316 |
Total amortization expense |  | $ | 41,208 |
Goodwill The changes in the carrying amount of goodwill for the years ended September 30, 2019 and 2018 are as follows:
| (in thousands)
|  | Total
Balance at September 30, 2017 |  | $ | 25,989 |
Increase from acquisition |  | — |
Balance at September 30, 2018 |  | 25,989 |
Increase from acquisition |  | 26,769 |
Balance at September 30, 2019 |  | 52,758 |
Refer to Note 15, Business Combinations for more information of the recent acquisition on June 7, 2019. Accounts payable, accrued expenses and other current liabilities
|  | (in thousands)
|  | September 30, |  | September 30,
|  | 2019 |  | 2018
Accounts payable |  | $ | 10,054 |  |  | $ | 3,393 |
Accrued benefits |  | 2,252 |  |  | 2,060 |
Accrued bonus and incentive compensation |  | 1,951 |  |  | 2,191 |
Accrued workers' compensation insurance |  | 4,007 |  |  | 2,642 |
Other accrued expenses |  | 2,369 |  |  | 664 |
Accounts payable, accrued expenses, and other current liabilities |  | $ | 20,633 |  |  | $ | 10,950 |
Debt obligations
| (in thousands)
| September 30, |  | September 30,
| 2019 |  | 2018
Bank term loan | $ | 56,000 |  |  | $ | 7,708 |
Less unamortized deferred financing cost | (2,371 | ) |  | (750 | )
Net bank debt obligation | 53,629 |  |  | 6,958 |
Less current portion of bank debt obligations | — |  |  | — |
Long term portion of bank debt obligation | $ | 53,629 |  |  | $ | 6,958 |
Interest expense
|  | (in thousands)
|  | Years Ended
|  | September 30,
| Ref | 2019 |  | 2018
Interest expense | (a) | $ | (1,512 | ) |  | $ | (800 | )
Amortization of deferred financing costs | (b) | (982 | ) |  | (275 | )
Other income (expense), net |  | 21 |  |  | (41 | )
Interest expense, net |  | $ | (2,473 | ) |  | $ | (1,116 | )
Ref (a): Interest expense on borrowing Ref (b): Amortization of expenses related to securing financing

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI http://asc.fasb.org/topic&trid=2122208 + Details
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