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Supporting Financial Information | 12 Months Ended
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Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Supporting Financial Information | Supporting Financial Information Accounts receivable
|  | (in thousands)
|  | September 30, |  | September 30,
| Ref | 2020 |  | 2019
Billed receivables |  | $ | 24,598 |  |  | $ | 18,924 |
Contract assets |  | 7,943 |  |  | 4,302 |
Total accounts receivable |  | 32,541 |  |  | 23,226 |
Less: Allowance for doubtful accounts | (a) | — |  |  | — |
Accounts receivable, net |  | $ | 32,541 |  |  | $ | 23,226 |
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. 0 No allowance for doubtful accounts was deemed necessary at either September 30, 2020 or September 30, 2019. Other current assets
|  | (in thousands)
|  | September 30, |  | September 30,
|  | 2020 |  | 2019
Prepaid insurance and benefits |  | $ | 665 |  |  | $ | 495 |
Other receivables |  | 1,363 |  |  | 301 |
Prepaid expenses |  | 1,471 |  |  | 1,035 |
Other current assets |  | $ | 3,499 |  |  | $ | 1,831 |
Equipment and improvements, net
|  | (in thousands)
|  | September 30, |  | September 30,
| Ref | 2020 |  | 2019
Furniture and equipment |  | $ | 958 |  |  | $ | 1,262 |
Computer equipment |  | 1,171 |  |  | 1,043 |
Computer software |  | 4,341 |  |  | 3,985 |
Leasehold improvements |  | 1,595 |  |  | 1,595 |
Total equipment and improvements |  | 8,065 |  |  | 7,885 |
Less accumulated depreciation and amortization |  | (4,726) |  |  | (2,542) |
Equipment and improvements, net | (a) | $ | 3,339 |  |  | $ | 5,343 |
Ref (a): Depreciation and amortization was $2.2 million and $1.2 million for the years ended September 30, 2020 and 2019, respectively. Intangible assets, net
|  | (in thousands)
|  | September 30, |  | September 30,
| Ref | 2020 |  | 2019
Intangible assets | (a) |  |  |
Customer contracts and related customer relationships |  | $ | 45,600 |  |  | $ | 45,600 |
Covenants not to compete |  | 480 |  |  | 480 |
Trade name |  | 2,109 |  |  | 2,109 |
Acquired intangibles - IBA acquisition | (b) | 16,223 |  |  | — |
Total intangible assets |  | 64,412 |  |  | 48,189 |
Less accumulated amortization |  |  |  |
Customer contracts and related customer relationships |  | (11,150) |  |  | (6,590) |
Covenants not to compete |  | (212) |  |  | (164) |
Trade name |  | (438) |  |  | (227) |
Total accumulated amortization |  | (11,800) |  |  | (6,981) |
Intangible assets, net |  | $ | 52,612 |  |  | $ | 41,208 |
Ref (a): Total amount of amortization expense for the year ended September 30, 2020 and 2019 was $4.8 million and $2.7 million, respectively. Ref (b): The Company is currently valuing the acquired intangible assets from the IBA acquisition. The balances provided are an estimate and subject to revision. Please refer to Note 16 for more information.
Estimated amortization expense for future years: |  | (in thousands)
Fiscal 2021 |  | $ | 6,441 |
Fiscal 2022 |  | 6,441 |
Fiscal 2023 |  | 6,441 |
Fiscal 2024 |  | 6,441 |
Fiscal 2025 |  | 6,441 |
Thereafter |  | 20,407 |
Total amortization expense |  | $ | 52,612 |
Goodwill The changes in the carrying amount of goodwill for the years ended September 30, 2020 and 2019 are as follows:
|  |  | (in thousands)
| Ref |  | Total
Balance at September 30, 2018 |  |  | $ | 25,989 |
Increase from S3 acquisition |  |  | 26,769 |
Balance at September 30, 2019 |  |  | 52,758 |
Preliminary increase from IBA acquisition | (a) |  | 14,386 |
Balance at September 30, 2020 |  |  | $ | 67,144 |
Ref (a): The Company is currently valuing the goodwill from the IBA acquisition. The balance provided is an estimate and subject to revision. Please refer to Note 16 for more information. Accounts payable, accrued expenses, and other current liabilities
|  | (in thousands)
|  | September 30, |  | September 30,
|  | 2020 |  | 2019
Accounts payable |  | $ | 14,645 |  |  | $ | 10,054 |
Accrued benefits |  | 2,833 |  |  | 2,252 |
Accrued bonus and incentive compensation |  | 2,340 |  |  | 1,951 |
Accrued workers' compensation insurance |  | 5,529 |  |  | 4,007 |
Other accrued expenses |  | 3,231 |  |  | 2,369 |
Accounts payable, accrued expenses, and other current liabilities |  | $ | 28,578 |  |  | $ | 20,633 |
Debt Obligations
|  | (in thousands)
|  | September 30, |  | September 30,
|  | 2020 |  | 2019
Bank term loan |  | $ | 70,000 |  |  | $ | 56,000 |
Less unamortized deferred financing cost |  | (2,729) |  |  | (2,371) |
Net bank debt obligation |  | 67,271 |  |  | 53,629 |
Less current portion of term loan debt obligations |  | (6,727) |  |  | — |
Long-term portion of bank debt obligation |  | $ | 60,544 |  |  | $ | 53,629 |
Interest expense
|  | (in thousands)
|  | Year Ended
|  | September 30,
| Ref | 2020 |  | 2019
Interest expense | (a) | $ | (2,841) |  |  | $ | (1,512) |
Amortization of deferred financing costs | (b) | (721) |  |  | (982) |
Other income (expense), net | (c) | 121 |  |  | 21 |
Interest expense, net |  | $ | (3,441) |  |  | $ | (2,473) |
Ref (a): Interest expense on borrowing Ref (b): Amortization of expenses related to term loan and revolving line of credit. For 2019, amortization included write-off of remaining deferred financing costs related to prior loan agreement that was terminated early. Ref (c): Gain on lease modification due to a lease amendment

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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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