Note 5 - Trade Accounts and Notes Receivable

3 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

5. Trade Accounts and Notes Receivable

Trade accounts receivable, net (excluding notes receivable) are reflected in the following table (in thousands):

	December 31, 2023			September 30, 2023
Trade accounts receivable	$	41,755		$	20,282
Allowance for credit losses		(92	)		(125	)
Total		41,663			20,157
Less current portion		(40,153	)		(20,157	)
Non-current trade accounts receivable	$	1,510		$	—

Trade accounts receivable at December 31, 2023 included $30.0 million from a single customer related to a product sale in December 2023, of which $28.5 million is backed by letters of credit from the customer and due in February 2024.  The remaining $1.5 million of this receivable is classified as non-current and is due in December 2025.  Credit quality indicators used for the non-current portion of this receivable consisted of historical collection experience, internal credit risk grades and collateral.  The Company determines the allowance for credit losses through a review of several factors, including historical collection experience, customer credit worthiness, current aging of customer accounts and current financial conditions of its customers. Trade accounts receivable balances are charged off against the allowance whenever it is probable that the receivable balance will not be recoverable.

Allowance for credit losses related to trade accounts receivable are reflected in the following table (in thousands):

	Three Months Ended
	December 31, 2023			December 31, 2022
Allowance for credit losses:
Beginning of period		125			591
Provision for credit losses		43			286
Recoveries		(72	)		(166	)
Write-offs		(7	)		(6	)
Currency translation		3			(16	)
End of period	$	92		$	689

The Company had one note receivable from a customer at December 31, 2023 and September 30, 2023 with balances of $0.3 million and $1.2 million, respectively.  The note originated during the second quarter of fiscal year 2020 in connection with a $12.5 million product sale with the customer.  The note bears interest at 7.0% per year and requires monthly principal and interest payments of $0.3 million.  The note was paid in January 2024.