Equity and Stock-Based Compensation (Tables)

3 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

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

	Options			Weighted Average Exercise Price
Outstanding at beginning of period		672,924		$	8.76
Granted		6,000			6.72
Exercised		(5,000	)		5.67
Forfeited		(19,075	)		10.09
Outstanding at end of period		654,849		$	8.73
Exercisable at end of period		428,143		$	8.53
Weighted average fair value of options granted during the period	$	3.50

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:

	Three Months Ended December 31,
	2023			2022
Risk free interest rate		4	%		4	%
Expected term	5 years			5 years
Dividend rate		—	%		—	%
Volatility		56	%		56	%

Schedule of Restricted Shares Activity

The following table summarizes our RSU activity during the three months ended December 31, 2023:

	Number		Weighted Average Grant Date Fair Value
Nonvested at beginning of year		75,977	$	9.15
Granted		—		—
Released		—		—
Forfeited		—		—
Nonvested at end of period		75,977	$	9.15