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Supporting Financial Information | 9 Months Ended
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Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Supporting Financial Information | Supporting Financial Information Accounts receivable
|  |  | (in thousands)
|  |  | June 30, |  | September 30,
|  |  | 2022 |  | 2021
Billed receivables |  |  | $ | 41,870 |  |  | $ | 26,140 |
Contract assets |  |  | 8,467 |  |  | 7,307 |
Total accounts receivable |  |  | $ | 50,337 |  |  | $ | 33,447 |
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, 2022 or September 30, 2021. Other current assets
|  |  | (in thousands)
|  |  | June 30, |  | September 30,
|  |  | 2022 |  | 2021
Prepaid insurance and benefits |  |  | $ | 1,019 |  |  | $ | 655 |
Other receivables |  |  | 1,021 |  |  | 995 |
Prepaid licenses and other expenses |  |  | 2,377 |  |  | 2,615 |
Other current assets |  |  | $ | 4,417 |  |  | $ | 4,265 |
Equipment and improvements, net
|  |  | (in thousands)
|  |  | June 30, |  | September 30,
| Ref |  | 2022 |  | 2021
Furniture and equipment |  |  | $ | 958 |  |  | $ | 958 |
Computer equipment |  |  | 1,484 |  |  | 1,262 |
Computer software |  |  | 4,375 |  |  | 4,353 |
Leasehold improvements |  |  | 1,595 |  |  | 1,595 |
Total equipment and improvements |  |  | 8,412 |  |  | 8,168 |
Less: accumulated depreciation and amortization | (a) |  | (7,057) |  |  | (6,256) |
Equipment and improvements, net |  |  | $ | 1,355 |  |  | $ | 1,912 |
Ref (a): Depreciation expense was $0.2 million and $0.4 million for the three months ended June 30, 2022 and 2021, respectively, and $0.8 million and $1.2 million, for the nine months ended June 30, 2022 and 2021, respectively. Intangible assets
|  |  | (in thousands)
|  |  | June 30, |  | September 30,
| Ref |  | 2022 |  | 2021
Intangible assets | (a) |  |  |  |
Customer contracts and related customer relationships |  |  | $ | 62,281 |  |  | $ | 62,281 |
Covenants not to compete |  |  | 522 |  |  | 522 |
Trade name |  |  | 3,051 |  |  | 3,051 |
Total intangible assets |  |  | 65,854 |  |  | 65,854 |
Less: accumulated amortization |  |  |  |  |
Customer contracts and related customer relationships |  |  | (22,049) |  |  | (17,378) |
Covenants not to compete |  |  | (303) |  |  | (264) |
Trade name |  |  | (972) |  |  | (743) |
Total accumulated amortization |  |  | (23,324) |  |  | (18,385) |
Intangible assets, net |  |  | $ | 42,530 |  |  | $ | 47,469 |
Ref (a): Intangible assets (other than goodwill) are subject to amortization. These intangible assets are amortized on a straight-line basis over their estimated useful lives of 10 years. The total amount of amortization expense was $1.6 million for the three months ended June 30, 2022 and 2021 and $4.9 million for the nine months ended June 30, 2022 and 2021.
Estimated amortization expense for the following fiscal years ending September 30: |  | (in thousands)
2022 (remaining) |  | $ | 1,646 |
2023 |  | 6,585 |
2024 |  | 6,585 |
2025 |  | 6,585 |
2026 |  | 5,851 |
Thereafter |  | 15,278 |
Total amortization expense |  | $ | 42,530 |
Accounts payable, accrued expenses, and other current liabilities
|  |  | (in thousands)
|  |  | June 30, |  | September 30,
|  |  | 2022 |  | 2021
Accounts payable |  |  | $ | 18,614 |  |  | $ | 16,684 |
Accrued benefits |  |  | 4,172 |  |  | 2,916 |
Accrued bonus and incentive compensation |  |  | 2,600 |  |  | 2,381 |
Accrued workers' compensation insurance |  |  | 4,877 |  |  | 7,014 |
Other accrued expenses |  |  | 4,835 |  |  | 3,722 |
Accounts payable, accrued expenses, and other current liabilities |  |  | $ | 35,098 |  |  | $ | 32,717 |
Debt obligations
|  |  |  | (in thousands)
|  |  |  | June 30, |  | September 30,
|  | Ref |  | 2022 |  | 2021
Bank term loan |  |  |  | $ | 28,500 |  |  | $ | 46,750 |
Less: unamortized deferred financing costs |  |  |  | (1,717) |  |  | (2,114) |
Long-term portion of bank debt obligations, net of deferred financing costs |  | (a) |  | $ | 26,783 |  |  | $ | 44,636 |
Ref (a): As of June 30, 2022 and September 30, 2021, we had no outstanding balance on our revolving line of credit and have satisfied mandatory principal payments covering the following twelve months. Interest income (expense)
|  |  | Three Months Ended |  | Nine Months Ended
|  |  | June 30, |  | June 30,
(in thousands) | Ref |  | 2022 |  | 2021 |  | 2022 |  | 2021
Interest expense | (a) |  | $ | (334) |  |  | $ | (696) |  |  | $ | (1,242) |  |  | $ | (2,367) |
Amortization of deferred financing costs | (b) |  | (178) |  |  | (197) |  |  | (497) |  |  | (610) |
Interest expense, net |  |  | $ | (512) |  |  | $ | (893) |  |  | $ | (1,739) |  |  | $ | (2,977) |
Ref (a): Interest expense on borrowing Ref (b): Amortization of expenses related to term loan and revolving line of credit

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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://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI https://asc.fasb.org/topic&trid=2122208 + Details
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