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Leases (Tables)
6 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Schedule of Financial Statement Classification of Lease Balances Within Condensed Consolidated Balance Sheets

The following table provides information about the financial statement classification of our lease balances reported within the Condensed Consolidated Balance Sheets, in thousands:

 

 

 

March 31,
2025

 

 

September 30,
2024

 

Assets

 

 

 

 

 

 

Right-of-use assets - operating

 

$

15,436

 

 

$

16,596

 

Right-of-use assets - finance

 

 

185

 

 

 

227

 

Total right-of-use assets

 

$

15,621

 

 

$

16,823

 

Liabilities

 

 

 

 

 

 

Current

 

 

 

 

 

 

Operating lease liabilities

 

$

2,141

 

 

$

2,041

 

Finance lease liabilities

 

 

104

 

 

 

101

 

Total current portion of long-term lease liabilities

 

 

2,245

 

 

 

2,142

 

Long-term

 

 

 

 

 

 

Operating lease liabilities

 

 

14,143

 

 

 

15,240

 

Finance lease liabilities

 

 

135

 

 

 

189

 

Total long-term lease liabilities

 

 

14,278

 

 

 

15,429

 

Total lease liabilities

 

$

16,523

 

 

$

17,571

 

Schedule of Financial Statement Classification of Lease Expenses Reported in Condensed Consolidated Statements of Operations

The following table provides information about the financial statement classification of our lease expenses reported in the Condensed Consolidated Statements of Operations, in thousands:

 

 

 

 

 

Three Months Ended March 31,

 

 

Six Months Ended March 31,

 

Lease cost

 

Classification

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Operating lease cost

 

Cost of sales

 

$

460

 

 

$

373

 

 

$

919

 

 

$

1,118

 

Operating lease cost

 

Selling, general and administrative

 

 

364

 

 

 

464

 

 

 

727

 

 

 

668

 

Operating lease cost

 

Research, development and engineering

 

 

3

 

 

 

3

 

 

 

6

 

 

 

6

 

Finance lease cost

 

Cost of sales

 

 

 

 

 

1

 

 

 

 

 

 

2

 

Finance lease cost

 

Selling, general and administrative

 

 

25

 

 

 

22

 

 

 

50

 

 

 

42

 

Total lease cost

 

 

 

$

852

 

 

$

863

 

 

$

1,702

 

 

$

1,836

 

Future Minimum Lease Payments Under Non-cancelable Leases

Future minimum lease payments under non-cancelable leases as of March 31, 2025 are as follows, in thousands:

 

 

 

Operating Leases

 

 

Finance Leases

 

 

Total

 

Remainder of 2025

 

$

1,574

 

 

$

59

 

 

$

1,633

 

2026

 

 

2,868

 

 

 

117

 

 

 

2,985

 

2027

 

 

2,287

 

 

 

77

 

 

 

2,364

 

2028

 

 

2,326

 

 

 

5

 

 

 

2,331

 

2029

 

 

2,370

 

 

 

 

 

 

2,370

 

Thereafter

 

 

10,031

 

 

 

 

 

 

10,031

 

Total lease payments

 

 

21,456

 

 

 

258

 

 

 

21,714

 

Less: Interest

 

 

5,172

 

 

 

19

 

 

 

5,191

 

Present value of lease liabilities

 

$

16,284

 

 

$

239

 

 

$

16,523

 

Schedule of Weighted Average Remaining Term and Discount Rates

The following table provides information about the remaining lease terms and discount rates applied:

 

 

 

March 31,
2025

 

 

September 30,
2024

 

Weighted average remaining lease term

 

 

 

 

 

 

Operating leases

 

8.18 years

 

 

8.47 years

 

Finance leases

 

2.24 years

 

 

2.73 years

 

Weighted average discount rate

 

 

 

 

 

 

Operating leases

 

 

6.63

%

 

 

6.58

%

Finance leases

 

 

6.44

%

 

 

6.43

%