Equity and Stock-Based Compensation (Tables)

6 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

The following table summarizes our stock option activity during the six months ended March 31, 2023:

	Options			Weighted Average Exercise Price
Outstanding at beginning of period		589,341		$	8.06
Granted		111,500			9.27
Exercised		(21,675	)		5.01
Forfeited		(23,000	)		10.81
Outstanding at end of period		656,166		$	8.27
Exercisable at end of period		451,421		$	7.52
Weighted average fair value of options granted during the period	$	4.81

Schedule of Fair Value of Stock Option Using Black-Scholes Option Pricing Model

The fair value of options was estimated at the applicable grant date using the Black-Scholes option pricing model with the following assumptions:

	Six Months Ended March 31, 2023			Six Months Ended March 31, 2022
Risk free interest rate		4	%		1	%
Expected term	5 years			5 years
Dividend rate		—	%		—	%
Volatility		56	%		57	%

Schedule of Restricted Shares Activity

The following table summarizes our RSU activity during the six months ended March 31, 2023:

	Number			Weighted Average Grant Date Fair Value
Nonvested at beginning of year		—		$	—
Granted		23,421			9.56
Released		(3,000	)		9.61
Forfeited		—			—
Nonvested at end of period		20,421		$	9.55