XML 33 R23.htm IDEA: XBRL DOCUMENT v3.25.2
Supporting Financial Information (Tables)
9 Months Ended
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Accounts Receivable
The following table summarizes accounts receivable presented on our consolidated balance sheets as follows (in thousands):
June 30,September 30,
20252024
Billed receivables$25,079 $25,904 
Contract assets19,837 23,945 
Accounts receivable$44,916 $49,849 
Schedule of Other Current Assets
The following table summarizes other current assets presented on our consolidated balance sheets as follows (in thousands):
June 30,September 30,
20252024
Prepaid licenses and other expenses$2,070 $1,315 
Prepaid insurance and benefits1,318 545 
Other receivables1,089 906 
Other current assets$4,477 $2,766 
Schedule of Intangible Assets
The following table summarizes intangible assets, net presented on our consolidated balance sheets as follows (in thousands):
June 30,September 30,
20252024
Intangible assets
Customer contracts and related customer relationships$113,622 $113,622 
Backlog37,249 37,249 
Trade name13,034 13,034 
Covenants-not-to-compete
637 637 
Total intangible assets164,542 164,542 
Less: accumulated amortization
Customer contracts and related customer relationships(49,823)(41,297)
Backlog(13,784)(10,994)
Trade name(4,466)(3,488)
Covenants-not-to-compete
(490)(442)
Total accumulated amortization(68,563)(56,221)
Intangible assets, net$95,979 $108,321 
Schedule of Estimated Amortization of Intangible Assets
As of June 30, 2025, the estimated amortization expense per fiscal year was as follows (in thousands):
Fiscal year ending:
2025 (remaining)$4,112 
202615,722 
202714,694 
202814,694 
202913,734 
Thereafter33,023 
Total amortization expense$95,979 
Schedule of Equipment and Improvements, Net
The following table summarizes equipment and improvements, net presented on our consolidated balance sheets as follows (in thousands):
June 30,September 30,
20252024
Furniture and equipment$1,177 $1,832 
Computer equipment and software4,190 7,273 
Leasehold improvements1,567 1,614 
Total equipment and improvements6,934 10,719 
Less: accumulated depreciation
(5,502)(8,889)
Equipment and improvements, net$1,432 $1,830 
Schedule of Accounts Payable, Accrued Expenses, and Other Current Liabilities
The following table summarizes accounts payable and accrued liabilities presented on our consolidated balance sheets as follows (in thousands):
June 30,September 30,
20252024
Accounts payable$9,894 $13,421 
Accrued benefits143 4,519 
Accrued workers' compensation insurance795 1,528 
Accrued bonus and incentive compensation835 3,641 
Accrued interest501 619 
Other accrued expenses1,508 1,562 
Accounts payable and accrued liabilities$13,676 $25,290 
Schedule of Accrued Payroll
The following table summarizes accrued payroll presented on our consolidated balance sheets as follows (in thousands):
June 30,September 30,
20252024
Accrued leave$8,774 $8,569 
Accrued payroll5,719 3,070 
Accrued payroll taxes491 981 
Accrued severance38 228 
Total accrued payroll
$15,022 $12,848 
Schedule of Debt Obligations
The following table summarizes debt obligations presented on our consolidated balance sheets as follows (in thousands):
June 30,September 30,
20252024
Secured term loan$128,250 $142,500 
Secured revolving line of credit14,039 12,058 
Less: unamortized deferred financing costs(3,941)(5,184)
Net bank debt obligations138,348 149,374 
Less: current portion of debt obligations, net of deferred financing costs (a)(14,039)(12,058)
Long-term portion of debt obligations, net of deferred financing costs$124,309 $137,316 

As of June 30, 2025, we have satisfied quarterly minimum principal payments on our secured term loan through June 30, 2026.

(a) As of June 30, 2025, the current portion comprises the $14.0 million outstanding balance on the secured revolving line of credit.
Schedule of Interest Expense
The following table summarizes interest expense presented on our consolidated statements of operations as follows (in thousands):
Three Months EndedNine Months Ended
June 30,June 30,
2025202420252024
Interest expense (a)
$3,127 $3,756 $10,297 $11,588 
Interest income (b)
(15)(10)(57)(34)
Amortization of deferred financing costs (c)
428 397 1,309 1,437 
Interest expense$3,540 $4,143 $11,549 $12,991 

(a) Interest expense on borrowing.
(b) Interest earned from customer payments received after the due date.
(c) Amortization of expenses related to secured term loan and secured revolving line of credit.