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Leases (Tables)
9 Months Ended
Jun. 30, 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:

 

 

 

June 30,
2025

 

 

September 30,
2024

 

Assets

 

 

 

 

 

 

Right-of-use assets - operating

 

$

17,856

 

 

$

16,596

 

Right-of-use assets - finance

 

 

190

 

 

 

227

 

Total right-of-use assets

 

$

18,046

 

 

$

16,823

 

Liabilities

 

 

 

 

 

 

Current

 

 

 

 

 

 

Operating lease liabilities

 

$

1,828

 

 

$

2,041

 

Finance lease liabilities

 

 

112

 

 

 

101

 

Total current portion of long-term lease liabilities

 

 

1,940

 

 

 

2,142

 

Long-term

 

 

 

 

 

 

Operating lease liabilities

 

 

16,894

 

 

 

15,240

 

Finance lease liabilities

 

 

127

 

 

 

189

 

Total long-term lease liabilities

 

 

17,021

 

 

 

15,429

 

Total lease liabilities

 

$

18,961

 

 

$

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 June 30,

 

 

Nine Months Ended June 30,

 

Lease cost

 

Classification

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Operating lease cost

 

Cost of sales

 

$

454

 

 

$

617

 

 

$

1,373

 

 

$

1,735

 

Operating lease cost

 

Selling, general and administrative

 

 

371

 

 

 

375

 

 

 

1,098

 

 

 

1,043

 

Operating lease cost

 

Research, development and engineering

 

 

3

 

 

 

3

 

 

 

9

 

 

 

9

 

Finance lease cost

 

Cost of sales

 

 

 

 

 

 

 

 

 

 

 

2

 

Finance lease cost

 

Selling, general and administrative

 

 

26

 

 

 

38

 

 

 

76

 

 

 

80

 

Total lease cost

 

 

 

$

854

 

 

$

1,033

 

 

$

2,556

 

 

$

2,869

 

Future Minimum Lease Payments Under Non-cancelable Leases

Future minimum lease payments under non-cancelable leases as of June 30, 2025 are as follows, in thousands:

 

 

 

Operating Leases

 

 

Finance Leases

 

 

Total

 

Remainder of 2025

 

$

776

 

 

$

31

 

 

$

807

 

2026

 

 

3,045

 

 

 

126

 

 

 

3,171

 

2027

 

 

3,056

 

 

 

85

 

 

 

3,141

 

2028

 

 

3,117

 

 

 

12

 

 

 

3,129

 

2029

 

 

3,184

 

 

 

4

 

 

 

3,188

 

Thereafter

 

 

11,383

 

 

 

 

 

 

11,383

 

Total lease payments

 

 

24,561

 

 

 

258

 

 

 

24,819

 

Less: Interest

 

 

5,839

 

 

 

19

 

 

 

5,858

 

Present value of lease liabilities

 

$

18,722

 

 

$

239

 

 

$

18,961

 

Schedule of Weighted Average Remaining Term and Discount Rates

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

 

 

 

June 30,
2025

 

 

September 30,
2024

 

Weighted average remaining lease term

 

 

 

 

 

 

Operating leases

 

7.87 years

 

 

8.47 years

 

Finance leases

 

2.18 years

 

 

2.73 years

 

Weighted average discount rate

 

 

 

 

 

 

Operating leases

 

 

6.85

%

 

 

6.58

%

Finance leases

 

 

6.56

%

 

 

6.43

%