XML 50 R35.htm IDEA: XBRL DOCUMENT
v3.25.3

Income Taxes (Tables) | 3 Months Ended
--- | ---
Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Provision for Income Taxes | The provision for income taxes consists of the following:
|  | Three Months Ended |  |  | Year Ended |
|  | December 31, |  |  | September 30, |
|  | 2024 |  |  | 2024 |  |  | 2023 |  |  | 2022 |
|  |  |  |  | (in thousands) |
Current |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
State |  |  | 893 |  |  |  | 761 |  |  |  | 560 |  |  | 231 |
|  | $ | 893 |  |  | $ | 761 |  |  | $ | 560 |  |  | $ | 231 |
Deferred |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (2,914 | ) |  |  | (494 | ) |  |  | (7,392 | ) |  |  | (47,879 | )
State |  |  | (2,322 | ) |  |  | 252 |  |  |  | (1,913 | ) |  |  | (4,342 | )
|  | $ | (5,236 | ) |  | $ | (242 | ) |  | $ | (9,305 | ) |  | $ | (52,221 | )
Provision/(Benefit) for income taxes |  | $ | (4,343 | ) |  | $ | 519 |  |  | $ | (8,745 | ) |  | $ | (51,990 | )
Schedule of Reconciliation between Effective Tax Rate Income from Continuing Operations and Statutory Rate | The reconciliation between the effective tax rate on income from continuing operations and the statutory tax rate is as follows:
|  | Three Months Ended |  |  | Year Ended |
|  | December 31, |  |  | September 30, |
|  | 2024 |  |  | 2024 |  |  | 2023 |  |  | 2022 |
|  |  |  |  | (in thousands) |
Income tax (benefit) provision at federal statutory rate |  | $ | (24,420 | ) |  | $ | (19,004 | ) |  | $ | (26,555 | ) |  | $ | (49,280 | )
(Reduction) increase in income taxes resulting from: |  |  |  |  |  |  |  |  |  |  |  |
State taxes, net of federal tax benefit |  |  | (1,862 | ) |  |  | (1,321 | ) |  |  | (2,062 | ) |  |  | (3,953 | )
Nondeductible stock compensation expenses |  |  | — |  |  |  | 173 |  |  |  | 313 |  |  | 251 |
Permanent items |  |  | 45 |  |  |  | 232 |  |  |  | 225 |  |  | 206 |
Change in valuation allowances |  |  | 20,817 |  |  |  | 20,141 |  |  |  | 18,201 |  |  | (22) |
162(m) limitation |  |  | (44 | ) |  |  | 67 |  |  |  | 285 |  |  | 11 |
Impact of changing rates on deferred tax assets |  |  | (442 | ) |  |  | 501 |  |  |  | 499 |  |  | (247) |
Expired tax attributes |  |  | (387 | ) |  |  | (612 | ) |  |  | 200 |  |  | 964 |
Other |  |  | 1,950 |  |  |  | 342 |  |  |  | 149 |  |  | 80 |
Income tax provision (benefit) |  | $ | (4,343 | ) |  | $ | 519 |  |  | $ | (8,745 | ) |  | $ | (51,990 | )
Schedule of Components of Deferred Taxes | The components of the Company's deferred taxes as of December 31, 2024 and September 30, 2024 and 2023 are as follows:
|  | Three Months Ended |  |  | Year Ended |
|  | December 31, |  |  | September 30, |
|  | 2024 |  |  | 2024 |  |  | 2023 |
|  |  |  |  | (in thousands) |
Net operating loss carryforwards |  | $ | 80,898 |  |  | $ | 114,366 |  |  | $ | 125,306 |
Deferred credits |  |  | 466 |  |  |  | 695 |  |  |  | 1,057 |
Other accrued expenses |  |  | 1,316 |  |  |  | 1,562 |  |  |  | 1,234 |
Prepaids and other |  |  | 328 |  |  |  | 252 |  |  |  | 556 |
Warrant liabilities |  |  | 5,737 |  |  |  | 5,767 |  |  |  | 5,748 |
Other reserves and estimated losses |  |  | 1,008 |  |  |  | 1,090 |  |  |  | 937 |
Operating lease liabilities |  |  | 1,887 |  |  |  | 2,306 |  |  |  | 2,991 |
Deferred revenue |  |  | 3,500 |  |  |  | 2,217 |  |  |  | 4,829 |
Interest expense carryforward |  |  | 18,176 |  |  |  | 9,257 |  |  |  | 6,457 |
Unrealized gain on equity investments |  |  | 107 |  |  |  | 99 |  |  |  | — |
Gross deferred tax assets |  | $ | 113,423 |  |  | $ | 137,611 |  |  | $ | 149,115 |
Less: valuation allowance |  |  | (62,465 | ) |  |  | (41,648 | ) |  |  | (21,102 | )
Total net deferred tax assets |  | $ | 50,958 |  |  | $ | 95,963 |  |  | $ | 128,013 |
Operating lease right-of-use assets |  |  | (1,507 | ) |  |  | (1,883 | ) |  |  | (2,475 | )
Property and equipment |  |  | (52,388 | ) |  |  | (102,253 | ) |  |  | (131,805 | )
Unrealized loss on equity investments |  |  | — |  |  |  | — |  |  |  | (2,147 | )
Total deferred tax liabilities |  | $ | (53,895 | ) |  | $ | (104,136 | ) |  | $ | (136,427 | )
Net deferred tax liabilities |  | $ | (2,937 | ) |  | $ | (8,173 | ) |  | $ | (8,414 | )
Schedule of Reconciliation of Total Amounts of Unrecognized Tax Benefits | The following is a tabular reconciliation of the total amounts of unrecognized tax benefits:
|  | Three Months Ended |  |  | Year Ended |
|  | December 31, |  |  | September 30, |
|  | 2024 |  |  | 2024 |  |  | 2023 |
|  |  |  |  | (in thousands) |
Unrecognized tax benefits — October 1 |  | $ | 4,866 |  |  | $ | 4,866 |  |  | $ | 4,866 |
Gross decreases — tax positions in prior period |  |  | — |  |  |  | — |  |  |  | — |
Gross increases — tax positions in prior period |  |  | — |  |  |  | — |  |  |  | — |
Unrecognized tax benefits — September 30 |  | $ | 4,866 |  |  | $ | 4,866 |  |  | $ | 4,866 |

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

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration