Equity and Stock-Based Compensation (Tables)

6 Months Ended

Mar. 31, 2024

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, 2024:

	Options			Weighted Average Exercise Price
Outstanding at beginning of period		672,924		$	8.76
Granted		557,500			5.66
Exercised		(5,000	)		5.67
Forfeited		(43,991	)		9.63
Outstanding at end of period		1,181,433		$	7.28
Exercisable at end of period		424,643		$	8.49
Weighted average fair value of options granted during the period	$	2.44

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,
	2024			2023
Risk free interest rate		4	%		4	%
Expected term	5 years			5 years
Dividend rate		—	%		—	%
Volatility		60	%		56	%

Schedule of Restricted Shares Activity

The following table summarizes our RSU activity during the six months ended March 31, 2024:

	Number			Weighted Average Grant Date Fair Value
Nonvested at beginning of year		75,977		$	9.15
Granted		24,897			4.82
Released		(20,421	)		9.55
Forfeited		—			—
Nonvested at end of period		80,453		$	7.71