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Share-Based Compensation (Tables)
 3 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity

A summary of the activity in options of the Company as of December 31, 2024, is presented below:

 

 

Number of
Shares

 

 

Weighted
Average
Exercise Price

 

Outstanding September 30, 2024

 

 

3,695,740

 

 

$

2.84

 

Granted

 

 

968,250

 

 

$

2.79

 

Forfeited/expired

 

 

(3,125

)

 

$

3.09

 

Exercised

 

 

(667

)

 

$

1.70

 

Outstanding December 31, 2024

 

 

4,660,198

 

 

$

2.83

 

Exercisable December 31, 2024

 

 

1,568,103

 

 

$

3.25

 
Summary of Stock Options Outstanding

The following table summarizes information about stock options outstanding as of December 31, 2024:

 

Range of
Exercise Prices

 

Number
Outstanding

 

 

Weighted
Average
Remaining
Contractual
Term

 

 

Weighted
Average
Exercise
Price

 

 

Number
Exercisable

 

 

Weighted
Average
Exercise
Price

 

$1.70-$2.59

 

 

1,599,833

 

 

 

6.43

 

 

$

2.15

 

 

 

237,352

 

 

$

1.70

 

$2.64-$2.70

 

 

1,538,000

 

 

 

5.36

 

 

$

2.69

 

 

 

379,959

 

 

$

2.69

 

$3.09-$3.55

 

 

1,235,365

 

 

 

3.96

 

 

$

3.37

 

 

 

674,605

 

 

$

3.37

 

$3.95-$6.87

 

 

287,000

 

 

 

1.17

 

 

$

5.06

 

 

 

276,187

 

 

$

5.07

 

 

 

 

4,660,198

 

 

 

5.10

 

 

$

2.83

 

 

 

1,568,103

 

 

$

3.25

 
Summary of Weighted Average Assumptions The weighted average estimated fair value of employee stock options granted during the three months ended December 31, 2024 and 2023, was calculated using the Black-Scholes option-pricing model with the following weighted average assumptions (annualized percentages):

 

 

Three Months Ended December 31,

 

 

2024

 

 

2023

 

Volatility

 

 

60.7

%

 

 

57.8

%

Risk-free interest rate

 

 

4.1

%

 

 

4.3

%

Dividend yield

 

 

0.0

%

 

 

0.0

%

Expected term in years

 

 

3.6

 

 

 

4.2

 
Summary of Company's RSU Activity

A summary of the Company’s RSUs as of December 31, 2024, is presented below:

 

 

Number of
Shares

 

 

Weighted
Average Grant
Date Fair Value

 

Outstanding September 30, 2024

 

 

288,059

 

 

$

2.78

 

Granted

 

 

10,000

 

 

$

2.59

 

Vested

 

 

(27,666

)

 

$

2.51

 

Forfeited/cancelled

 

 

—

 

 

$

—

 

Outstanding December 31, 2024

 

 

270,393

 

 

$

2.70

 

 
Summary of Share-based Compensation Expense

The Company recorded share-based compensation expense and classified it in the condensed consolidated statements of operations as follows:

 

 

Three Months Ended
December 31,

 

 

2024

 

 

2023

 

Cost of revenues

 

$

17

 

 

$

39

 

Selling, general and administrative

 

 

326

 

 

 

380

 

Research and development

 

 

48

 

 

 

27

 

 

$

391

 

 

$

446