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EQUITY-BASED COMPENSATION (Tables)
 9 Months Ended
Jun. 30, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Equity-Based Compensation Expense A summary of equity-based compensation expense recognized during the three and nine months ended June 30, 2022 and 2021 is as follows:
Three months ended June 30,Nine months ended June 30,
2022202120222021
Stock options$6,399 $5,111 $19,065 $12,694 
Restricted stock units400 — 615 — 
Equity-based compensation expense$6,799 $5,111 $19,680 $12,694 
Schedule of Fair Value of Stock Option Awards The fair value of the stock option awards during the nine months ended June 30, 2022 and during the year ended September 30, 2021 was determined on the grant date using the Black-Scholes valuation model based on the following weighted-average assumptions:
June 30, 2022September 30, 2021
Expected volatility(1)
55.7 %59.7 %
Expected dividend yield(2)
— %— %
Expected term(3)
6 years6 years
Risk-free interest rate(4)
1.5 %0.7 %
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1.Expected volatility is based on the Company's own share price.
2.The Company has assumed a dividend yield of zero as management has no plans to declare dividends in the foreseeable future.
3.Expected term represents the estimated period of time until an award is exercised and was determined using the simplified method.
4.The risk-free rate is an interpolation of yields on U.S. Treasury securities with maturities equivalent to the expected term.
Schedule of Stock Option Activity A summary of stock option activity for the nine months ended June 30, 2022 is as follows:
Stock OptionsWeighted Average Exercise Price
Outstanding at September 30, 20217,547,622 $25.26 
Granted1,592,808 24.42 
Exercised(299,014)16.60 
Forfeited(552,800)30.06 
Outstanding at June 30, 20228,288,616 $25.09 
Exercisable at June 30, 20224,362,585 $22.97 
Schedule of Share-based Payment Arrangement, Restricted Stock Unit, Activity A summary of activity related to restricted stock units for the nine months ended June 30, 2022 is as follows:
Restricted Stock UnitsWeighted Average Grant Date Fair Value
Outstanding at September 30, 2021— $— 
Granted278,426 26.58 
Exercised— — 
Forfeited(13,001)26.53 
Outstanding at June 30, 2022265,425 $26.59