Leases

12 Months Ended

Sep. 30, 2022

Leases [Abstract]

LEASES

11. LEASES

The Company leases office and research and development facility leases under non-cancelable operating leases for various terms through 2030. Certain lease agreements include renewal options, rent abatement periods, and rental increases throughout the term. Variable lease cost is comprised primarily of the Company’s proportionate share of operating expenses, property taxes and insurance. The Company paid $2.1 million and $2.3 million in operating cash flows for operating leases during the year ended September 30, 2022, and 2021. ROU assets obtained in exchange for lease liabilities were $0.4 million and $3.1 million during the year ended September 30, 2022, and 2021, respectively.

The following table provides the components of lease cost recognized in the consolidated statements of operations and comprehensive income for the periods presented (amounts shown in thousands):

	Twelve Months Ended September 30,
	2022	2021
Operating lease cost	1,881	1,582
Variable lease cost	385	646
Total lease cost	2,266	2,228

Other information related to operating and finance leases as of the balance sheet dates presented are as follows:

	Twelve Months Ended September 30,
	2022		2021
Weighted-average remaining lease term (years) - operating leases	4.5		5.5
Weighted-average discount rate - operating leases	3.5	%	3.2	%

Future minimum lease payments for the Company’s operating leases as of September 30, 2022 were as follows (in thousands):

	Operating Leases
2023	2,237
2024	1,669
2025	578
2026	567
2027	571
Thereafter	915
Total lease payments	6,537
Less: amount representing interest	$	(321)
Present value of future lease payments	$	6,216