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Supporting Financial Information (Tables) | 12 Months Ended
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Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Accounts Receivable | The following table summarizes accounts receivable presented on our consolidated balance sheets at September 30, 2024 and 2023 (in thousands):
|  | 2024 |  | 2023
Billed receivables |  | $ | 25,904 |  |  | $ | 38,577 |
Contract assets |  | 23,945 |  |  | 20,542 |
Accounts receivable |  | $ | 49,849 |  |  | $ | 59,119 |
Schedule of Other Current Assets | The following table summarizes other current assets presented on our consolidated balance sheets at September 30, 2024 and 2023 (in thousands):
| 2024 |  | 2023
Prepaid licenses and other expenses | $ | 1,315 |  |  | $ | 1,330 |
Prepaid insurance and benefits | 545 |  |  | 743 |
Other receivables | 906 |  |  | 994 |
Other current assets | $ | 2,766 |  |  | $ | 3,067 |
Schedule of Intangible Assets, Net | The following table summarizes intangible assets, net presented on our consolidated balance sheets at September 30, 2024 and 2023 (in thousands):
|  | 2024 |  | 2023
Intangible assets |  |  |  |
Customer contracts and related customer relationships |  | $ | 113,622 |  |  | $ | 113,622 |
Backlog |  | 37,249 |  |  | 37,249 |
Trade names |  | 13,034 |  |  | 13,034 |
Covenants-not-to-compete |  | 637 |  |  | 637 |
Total intangible assets |  | $ | 164,542 |  |  | $ | 164,542 |
Less accumulated amortization: |  |  |  |
Customer contracts and related customer relationships |  | (41,297) |  |  | (29,929) |
Backlog |  | (10,994) |  |  | (7,273) |
Trade names |  | (3,488) |  |  | (2,185) |
Covenants-not-to-compete |  | (442) |  |  | (378) |
Total accumulated amortization |  | $ | (56,221) |  |  | $ | (39,765) |
Intangible assets, net |  | $ | 108,321 |  |  | $ | 124,777 |
Schedule of Estimated Future Amortization Expense of Finite-lived Intangibles | As of September 30, 2024, the estimated annual amortization expense is as follows (in thousands):
For the Fiscal Year Ending September 30, |  |
2025 |  | $ | 16,456 |
2026 |  | 15,722 |
2027 |  | 14,694 |
2028 |  | 14,694 |
2029 |  | 13,734 |
Thereafter |  | 33,021 |
Total amortization expense |  | $ | 108,321 |
Schedule of Equipment and Improvements, Net | The following table summarizes equipment and improvements, net presented on our consolidated balance sheets at September 30, 2024 and 2023 (in thousands):
|  | 2024 |  | 2023
Furniture and equipment |  | $ | 1,832 |  |  | $ | 1,790 |
Computer equipment and software |  | 7,273 |  |  | 6,479 |
Leasehold improvements |  | 1,614 |  |  | 1,614 |
Total equipment and improvements |  | 10,719 |  |  | 9,883 |
Less: accumulated depreciation and amortization |  | (8,889) |  |  | (8,293) |
Equipment and improvements, net |  | $ | 1,830 |  |  | $ | 1,590 |
Schedule of Accounts Payable, Accrued Expenses, and Other Current Liabilities | The following table summarizes accounts payable and accrued liabilities presented on our consolidated balance sheets at September 30, 2024 and 2023 (in thousands):
|  | 2024 |  | 2023
Accounts payable |  | $ | 13,421 |  |  | $ | 12,603 |
Accrued benefits |  | 4,519 |  |  | 6,414 |
Accrued bonus and incentive compensation |  | 3,641 |  |  | 4,719 |
Accrued workers' compensation insurance |  | 1,528 |  |  | 2,369 |
Accrued interest |  | 619 |  |  | 1,309 |
Other accrued expenses |  | 1,562 |  |  | 2,290 |
Accounts payable and accrued liabilities |  | $ | 25,290 |  |  | $ | 29,704 |
Schedule of Accrued Payroll | The following table summarizes accrued payroll presented on our consolidated balance sheets at September 30, 2024 and 2023 (in thousands):
|  | 2024 |  | 2023
Accrued leave |  | $ | 8,569 |  |  | $ | 9,621 |
Accrued payroll |  | 3,070 |  |  | 2,487 |
Accrued payroll taxes |  | 981 |  |  | 1,173 |
Accrued severance |  | 228 |  |  | 513 |
Accrued payroll |  | $ | 12,848 |  |  | $ | 13,794 |
Schedule of Debt Obligations | Debt obligations The following table summarizes debt obligations presented on our consolidated balance sheets at September 30, 2024 and 2023 (in thousands):
|  |  | 2024 |  | 2023 |
Secured term loan |  |  | $ | 142,500 |  |  | $ | 169,813 |  |
Secured revolving line of credit |  |  | 12,058 |  |  | 9,546 |  |
Less: unamortized deferred financing costs |  |  | (5,184) |  |  | (7,024) |  |
Net bank debt obligations |  |  | 149,374 |  |  | 172,335 |  |
Less: current portion of debt obligations, net of deferred financing costs (a) |  |  | (12,058) |  |  | (17,188) |  |
Long-term portion of debt obligations, net of deferred financing costs |  |  | $ | 137,316 |  |  | $ | 155,147 |  |
As of September 30, 2024, we have satisfied mandatory principal payments on our secured term loan. (a) As of September 30, 2024, the current portion comprises the $12.1 million outstanding balance on the secured revolving line of credit. All fiscal 2025 mandatory loan amortization payments have been satisfied by voluntary prepayments.
Schedule of Interest Expense | Interest expense The following table summarizes interest expense presented on our consolidated statements of operations for the years ended September 30, 2024 and 2023 (in thousands):
|  | 2024 |  | 2023
Interest expense (a) |  | $ | 15,352 |  |  | $ | 14,153 |
Interest income (b) |  | (38) |  |  | (64) |
Amortization of deferred financing costs (c) |  | 1,839 |  |  | 2,182 |
Interest expense |  | $ | 17,153 |  |  | $ | 16,271 |
(a): Interest expense on borrowing (b): Interest earned from customer payments received after the due date. (c): Amortization of expenses related to secured term loan and secured revolving line of credit.

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