XML 31 R13.htm IDEA: XBRL DOCUMENT
v3.20.2

Supporting Financial Information | 9 Months Ended
--- | ---
Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Supporting Financial Information | Supporting Financial Information Accounts receivable
|  |  | (in thousands) |  |
|  |  | June 30, |  | September 30,
| Ref |  | 2020 |  | 2019
Billed receivables |  |  | $ | 19,419 |  |  | $ | 18,924 |
Contract assets |  |  | 10,216 |  |  | 4,302 |
Total accounts receivable |  |  | 29,635 |  |  | 23,226 |
Less: Allowance for doubtful accounts | (a) |  | — |  |  | — |
Accounts receivable, net |  |  | $ | 29,635 |  |  | $ | 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. No allowance for doubtful accounts was deemed necessary at either June 30, 2020 or September 30, 2019. Other current assets
|  |  | (in thousands) |  |
|  |  | June 30, |  | September 30,
|  |  | 2020 |  | 2019
Prepaid insurance and benefits |  |  | $ | 833 |  |  | $ | 495 |
Other receivables |  |  | 1,407 |  |  | 301 |
Other prepaid expenses |  |  | 1,532 |  |  | 1,035 |
Other current assets |  |  | $ | 3,772 |  |  | $ | 1,831 |
Equipment and improvements, net
|  |  | (in thousands) |  |
|  |  | June 30, |  | September 30,
| Ref |  | 2020 |  | 2019
Furniture and equipment |  |  | $ | 1,262 |  |  | $ | 1,262 |
Computer equipment |  |  | 1,171 |  |  | 1,043 |
Computer software |  |  | 4,008 |  |  | 3,985 |
Leasehold improvements |  |  | 1,595 |  |  | 1,595 |
Total equipment and improvements |  |  | 8,036 |  |  | 7,885 |
Less accumulated depreciation and amortization |  |  | (4,267) |  |  | (2,542) |
Equipment and improvements, net | (a) |  | $ | 3,769 |  |  | $ | 5,343 |
Ref (a): Depreciation expense was $0.5 million and $0.3 million for the three months ended June 30, 2020 and 2019, respectively, and $1.7 million and $0.5 million for the nine months ended June 30, 2020 and 2019, respectively. Intangible assets
|  |  | (in thousands) |  |
|  |  | June 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 |
Total intangible assets |  |  | 48,189 |  |  | 48,189 |
Less accumulated amortization |  |  |  |  |
Customer contracts and related customer relationships |  |  | (10,010) |  |  | (6,590) |
Covenants not to compete |  |  | (200) |  |  | (164) |
Trade name |  |  | (385) |  |  | (227) |
Total accumulated amortization |  |  | (10,595) |  |  | (6,981) |
Intangible assets, net |  |  | $ | 37,594 |  |  | $ | 41,208 |
Ref (a): Intangible assets subject to amortization. The intangibles are amortized on a straight-line basis over their estimated useful lives of 10 years. The total amount of amortization expense was $1.2 million and $0.6 million for the three months ended June 30, 2020 and 2019, respectively, and $3.6 million and $1.5 million for the nine months ended June 30, 2020 and 2019, respectively.
Estimated amortization expense for future years: |  | (in thousands)
Remaining Fiscal 2020 |  | $ | 1,205 |
Fiscal 2021 |  | 4,819 |
Fiscal 2022 |  | 4,819 |
Fiscal 2023 |  | 4,819 |
Fiscal 2024 |  | 4,819 |
Thereafter |  | 17,113 |
Total amortization expense |  | $ | 37,594 |
Accounts payable, accrued expenses and other current liabilities
|  |  | (in thousands) |  |
|  |  | June 30, |  | September 30,
|  |  | 2020 |  | 2019
Accounts payable |  |  | $ | 11,827 |  |  | $ | 10,054 |
Accrued benefits |  |  | 2,963 |  |  | 2,252 |
Accrued bonus and incentive compensation |  |  | 1,819 |  |  | 1,951 |
Accrued workers' compensation insurance |  |  | 4,888 |  |  | 4,007 |
Other accrued expenses |  |  | 2,756 |  |  | 2,369 |
Accounts payable, accrued expenses, and other current liabilities |  |  | $ | 24,253 |  |  | $ | 20,633 |
Debt obligations
|  |  | (in thousands) |  |
|  |  | June 30, |  | September 30,
|  |  | 2020 |  | 2019
Bank term loan |  |  | $ | 44,500 |  |  | $ | 56,000 |
Less unamortized deferred financing cost |  |  | (1,958) |  |  | (2,371) |
Net bank debt obligation |  |  | 42,542 |  |  | 53,629 |
Less current portion of term loan debt obligations |  |  | — |  |  | — |
Long-term portion of bank debt obligation |  |  | $ | 42,542 |  |  | $ | 53,629 |
Interest expense
|  |  | (in thousands) |  |  |  | (in thousands) |  |
|  |  | Three Months Ended |  |  |  | Nine Months Ended |  |
|  |  | June 30, |  |  |  | June 30, |  |
| Ref |  | 2020 |  | 2019 |  | 2020 |  | 2019
Interest expense | (a) |  | $ | (635) |  |  | $ | (297) |  |  | $ | (2,229) |  |  | $ | (485) |
Amortization of deferred financing costs | (b) |  | (178) |  |  | (265) |  |  | (551) |  |  | (799) |
Other income (expense), net | (c) |  | — |  |  | — |  |  | 121 |  |  | — |
Interest expense, net |  |  | $ | (813) |  |  | $ | (562) |  |  | $ | (2,659) |  |  | $ | (1,284) |
Ref (a): Interest expense on borrowing Ref (b): Amortization of expenses related to term loan and revolving line of credit Ref (c): Gain on lease modification due to a lease amendment

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_SupplementalBalanceSheetDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration