Intangible Assets

12 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible Assets

The intangible assets with their associated accumulated amortization amounts at September 30, 2021 and September 30, 2020 are as follows, in thousands:

	September 30, 2021
	Gross		Accumulated Amortization		Impairment		Net
Intangible assets:
Customer relationships – 10 years	$	3,155	$	(2,780)	$	—	$	375
Trade name – 10 years	2,122		(1,390)		—		732
Non-compete agreements – 3 years	374		(374)		—		—
Total intangible assets	$	5,651	$	(4,544)	$	—	$	1,107

	September 30, 2020
	Gross		Accumulated Amortization		Impairment		Net
Intangible assets:
Customer relationships – 10 years	$	8,396	$	(4,021)	$	(3,894)	$	481
Trade name – 10 years	2,122		(1,178)		—		944
Non-compete agreements – 3 years	374		(374)		—		—
Total intangible assets	$	10,892	$	(5,573)	$	(3,894)	$	1,425

As of March 31, 2020, the Company determined that changes in the economy related to the COVID-19 pandemic and the continued losses experienced in the Telco segment may cause the carrying amounts of its intangible assets to exceed their fair values. The Company performed an assessment of its intangible assets and determined that the carrying value of its customer relationships were in fact impaired based on valuation appraisals performed by the Company using a multi-period excess earnings model. Therefore, the Company recorded a $3.9 million impairment charge in the Telco segment as of March 31, 2020. Amortization expense was $0.3 million and $0.7 million for the years ended September 30, 2021 and 2020, respectively.

The estimated aggregate amortization expense for each of the next five fiscal years is as follows, in thousands:

2022	$	319
2023	319
2024	195
2025	107
2026	107
Thereafter	60
Total	$	1,107