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REVENUE FROM CONTRACTS WITH CLIENTS | 12 Months Ended
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Sep. 30, 2024
Revenue from Contract with Customer [Abstract] |
REVENUE FROM CONTRACTS WITH CLIENTS | REVENUE FROM CONTRACTS WITH CLIENTS DSA The DSA segment generates service revenue through drug discovery and development services. The DSA segment generates product revenue through internally-manufactured scientific instruments for life sciences research and the related software for use by pharmaceutical companies, universities, government research centers and medical research institutions under the Company’s BASi product line. Refer to Note 2 – Summary of Significant Accounting Policies for further discussion of DSA revenue and related accounting policies. RMS The RMS segment generates products revenue through the commercial production and sale of research models, diets and bedding and bioproducts. The RMS segment generates service revenue through GEMS, client-owned animal colony care, and health monitoring and diagnostics services related to research models. Refer to Note 2 – Summary of Significant Accounting Policies for further discussion of RMS revenue and related accounting policies. Contract Assets and Liabilities from Contracts with Clients The timing of revenue recognition, billings and cash collections results in billed receivables (trade receivables), contract assets (unbilled revenue), and contract liabilities (client deposits and deferred revenue) on the consolidated balance sheets. The following table provides information about contract assets (trade receivables and unbilled revenue, excluding allowances for credit losses), and fees invoiced in advance (client deposits and deferred revenue):
| Balance at September 30, 2024 |  | Balance at September 30, 2023
Contract Assets: Trade receivables | $ | 65,867 |  |  | $ | 77,618 |
Contract Assets: Unbilled revenue | 14,624 |  |  | 17,211 |
Contract liabilities: Client deposits | 24,898 |  |  | 36,689 |
Contract liabilities: Deferred revenue | 17,088 |  |  | 18,933 |
When the Company does not have the unconditional right to advanced billings, both advanced client payments and unpaid advanced client billings are excluded from deferred revenue, with the advanced billings also being excluded from client receivables. The Company excluded approximately $10,399 and $10,220 of unpaid advanced client billings from both client receivables and deferred revenue as of September 30, 2024 and September 30, 2023, respectively. The Company expects approximately 80% of deferred revenue to be recognized as revenue in fiscal year 2025 and the remainder to be recognized thereafter during the remaining contract term. Changes in the contract asset and the contract liability balances during the twelve months ended September 30, 2024 include the following: •A change in the time frame for a right for consideration to become unconditional – Approximately 89% of unbilled revenue as of September 30, 2023, was billed during fiscal year 2024. •A change in the time frame for a performance obligation to be satisfied – Approximately 75% of contract liabilities as of September 30, 2023, were recognized as revenue during fiscal year 2024. Allowance for Credit Losses The Company’s allowance for credit losses was $6,931 and $7,446 at September 30, 2024 and 2023, respectively. A summary of activity in our allowance for credit losses is as follows:
| Fiscal Years Ended September 30,
| 2024 |  | 2023
Opening balance | $ | 7,446 |  |  | $ | 6,268 |
Charged to expense | 58 |  |  | 1,271 |
Uncollectible invoices written off | (823) |  |  | (107) |
Amounts collected | 250 |  |  | 14 |
Ending balance | $ | 6,931 |  |  | $ | 7,446 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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