Income Taxes (Tables)

12 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

Schedule of components of income tax expense (benefit)

The Company's expense from income taxes from continuing operations consists of the following for the periods presented:

	Fiscal Year Ended September 30,
in thousands	2024		2023		2022
Current federal	$	8,377	$	—	$	—
Current state	5,101		1,896		4,859
Deferred federal	6,317		18,997		47,239
Deferred state	(885)		3,065		1,173
Total expense from income taxes	$	18,910	$	23,958	$	53,271

Schedule of effective income tax rate reconciliation

The Company's expense from income taxes from continuing operations differs from the amount computed by applying the federal income tax statutory rate as follows for the periods presented:

	Fiscal Year Ended September 30,
in thousands	2024		2023		2022
Income tax computed at statutory rate	$	33,408	$	38,356	$	57,538
State income taxes, net of federal benefit	3,273		2,874		4,482
Permanent differences	9,140		2,037		3,341
Stock-based compensation	1,055		179		(389)
Tax credits	(27,918)		(20,287)		(12,081)
Deferred rate change	53		665		346
Other, net	(101)		134		34
Total expense from income taxes	$	18,910	$	23,958	$	53,271

Schedule of deferred tax assets and liabilities

The tax effects of significant temporary differences that give rise to the net deferred tax assets are as follows as of September 30, 2024 and 2023:

in thousands	September 30, 2024		September 30, 2023
Deferred tax assets:
Federal and state net operating loss and tax credit carryforwards	$	126,547	$	138,856
Incentive compensation	8,621		11,422
Warranty and other reserves	6,613		6,918
Inventory adjustments	7,914		3,942
Property, equipment and other assets	6,199		5,458
Uncertain tax positions	705		705
Other	4,816		2,504
Total deferred tax assets	161,415		169,805
Valuation allowance	(27,578)		(30,438)
Total deferred tax assets, net of valuation allowance	$	133,837	$	139,367
Deferred tax liabilities:
Operating lease right-of-use assets	$	(4,286)	$	(4,182)
Intangible assets	(1,026)		(1,236)
Total deferred tax liabilities	(5,312)		(5,418)
Net deferred tax assets	$	128,525	$	133,949

Schedule of unrecognized tax benefits roll forward

A reconciliation of our unrecognized tax benefits is as follows for the beginning and end of each period presented:

	Fiscal Year Ended September 30,
in thousands	2024		2023		2022
Balance at beginning of year	$	3,358	$	3,358	$	3,358
Additions for tax positions related to current year	—		—		—
Additions for tax positions related to prior years	—		—		—
Reductions in tax positions of prior years	—		—		—
Lapse of statute of limitations	(938)		—		—
Balance at end of year	$	2,420	$	3,358	$	3,358