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Supporting Financial Information | 12 Months Ended
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Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Supporting Financial Information | Supporting Financial Information Accounts receivable
|  | (in thousands)
|  | September 30, |  | September 30,
| Ref | 2021 |  | 2020
Billed receivables |  | $ | 26,140 |  |  | $ | 24,598 |
Contract assets |  | 7,307 |  |  | 7,943 |
Total accounts receivable |  | 33,447 |  |  | 32,541 |
Less: Allowance for doubtful accounts | (a) | — |  |  | — |
Accounts receivable, net |  | $ | 33,447 |  |  | $ | 32,541 |
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, 2021 or September 30, 2020. Other current assets
|  | (in thousands)
|  | September 30, |  | September 30,
|  | 2021 |  | 2020
Prepaid insurance and benefits |  | $ | 655 |  |  | $ | 665 |
Other receivables |  | 995 |  |  | 1,363 |
Prepaid expenses |  | 2,615 |  |  | 1,471 |
Other current assets |  | $ | 4,265 |  |  | $ | 3,499 |
Equipment and improvements, net
|  | (in thousands)
|  | September 30, |  | September 30,
| Ref | 2021 |  | 2020
Furniture and equipment |  | $ | 958 |  |  | $ | 958 |
Computer equipment |  | 1,262 |  |  | 1,171 |
Computer software |  | 4,353 |  |  | 4,341 |
Leasehold improvements |  | 1,595 |  |  | 1,595 |
Total equipment and improvements |  | 8,168 |  |  | 8,065 |
Less accumulated depreciation and amortization |  | (6,256) |  |  | (4,726) |
Equipment and improvements, net | (a) | $ | 1,912 |  |  | $ | 3,339 |
Ref (a): Depreciation and amortization was $1.5 million and $2.2 million for the years ended September 30, 2021 and 2020, respectively. Intangible assets, net
|  | (in thousands)
|  | September 30, |  | September 30,
| Ref | 2021 |  | 2020
Intangible assets |  |  |  |
Customer contracts and related customer relationships |  | $ | 62,281 |  |  | $ | 45,600 |
Covenants-not-to-compete |  | 522 |  |  | 480 |
Trade name |  | 3,051 |  |  | 2,109 |
Acquired intangibles - IBA acquisition |  | — |  |  | 16,223 |
Total intangible assets |  | 65,854 |  |  | 64,412 |
Less accumulated amortization |  |  |  |
Customer contracts and related customer relationships |  | (17,378) |  |  | (11,150) |
Covenants-not-to-compete |  | (264) |  |  | (212) |
Trade name |  | (743) |  |  | (438) |
Total accumulated amortization |  | (18,385) |  |  | (11,800) |
Intangible assets, net | (a) | $ | 47,469 |  |  | $ | 52,612 |
Ref (a): Total amount of amortization expense for the years ended September 30, 2021 and 2020 was $6.6 million and $4.8 million, respectively.
Estimated amortization expense for future years: |  | (in thousands)
Fiscal 2022 |  | $ | 6,585 |
Fiscal 2023 |  | 6,585 |
Fiscal 2024 |  | 6,585 |
Fiscal 2025 |  | 6,585 |
Fiscal 2026 |  | 5,851 |
Thereafter |  | 15,278 |
Total amortization expense |  | $ | 47,469 |
Goodwill The changes in the carrying amount of goodwill for the years ended September 30, 2021 and 2020 are as follows:
|  |  | (in thousands)
| Ref |  | Total
Balance at September 30, 2019 |  |  | $ | 52,758 |
Preliminary increase from IBA acquisition |  |  | 14,386 |
Balance at September 30, 2020 |  |  | 67,144 |
Total adjustments from IBA acquisition | (a) |  | (1,501) |
Balance at September 30, 2021 |  |  | $ | 65,643 |
Ref (a): The adjustments were determined based on third party valuations. Accounts payable, accrued expenses, and other current liabilities
|  | (in thousands)
|  | September 30, |  | September 30,
|  | 2021 |  | 2020
Accounts payable |  | $ | 16,684 |  |  | $ | 14,645 |
Accrued benefits |  | 2,916 |  |  | 2,833 |
Accrued bonus and incentive compensation |  | 2,381 |  |  | 2,340 |
Accrued workers' compensation insurance |  | 7,014 |  |  | 5,529 |
Other accrued expenses |  | 3,722 |  |  | 3,231 |
Accounts payable, accrued expenses, and other current liabilities |  | $ | 32,717 |  |  | $ | 28,578 |
Debt obligations
|  | (in thousands)
|  | September 30, |  | September 30,
|  | 2021 |  | 2020
Bank term loan |  | $ | 46,750 |  |  | $ | 70,000 |
Less: unamortized deferred financing costs |  | (2,114) |  |  | (2,729) |
Net bank debt obligations |  | 44,636 |  |  | 67,271 |
Less: current portion of bank debt obligations, net of deferred financing costs |  | — |  |  | (6,727) |
Long-term portion of bank debt obligations, net of deferred financing costs |  | $ | 44,636 |  |  | $ | 60,544 |
Interest expense
|  | (in thousands)
|  | Year Ended
|  | September 30,
| Ref | 2021 |  | 2020
Interest expense | (a) | $ | (2,992) |  |  | $ | (2,841) |
Amortization of deferred financing costs | (b) | (792) |  |  | (721) |
Other income (expense), net | (c) | — |  |  | 121 |
Interest expense, net |  | $ | (3,784) |  |  | $ | (3,441) |
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

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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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