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Restructuring and Other Costs, Net
12 Months Ended
Sep. 30, 2024
Restructuring and Related Activities [Abstract]  
Restructuring and Other Costs, Net

10. Restructuring and Other Costs, Net

Restructuring and other costs, net include restructuring expenses as well as other charges that are unusual in nature, are the result of unplanned events, and arise outside of the ordinary course of our business.

The following table sets forth the fiscal year ended September 30, activity relating to restructuring charges (dollars in thousands):

 

 

 

Personnel

 

 

Facilities

 

 

Restructuring
Subtotal

 

 

Other

 

 

Total

 

Balance at September 30, 2021

 

$

1,620

 

 

$

1,881

 

 

$

3,501

 

 

$

1,534

 

 

$

5,035

 

Restructuring and other costs, net

 

 

1,676

 

 

 

673

 

 

 

2,349

 

 

 

6,616

 

 

 

8,965

 

Non-cash adjustment

 

 

 

 

 

(708

)

 

 

(708

)

 

 

(4,000

)

 

 

(4,708

)

Cash payments

 

 

(2,021

)

 

 

(188

)

 

 

(2,209

)

 

 

(1,873

)

 

 

(4,082

)

Foreign exchange impact on ending balance

 

 

2

 

 

 

(58

)

 

 

(56

)

 

 

 

 

 

(56

)

Balance at September 30, 2022

 

 

1,277

 

 

 

1,600

 

 

 

2,877

 

 

 

2,277

 

 

 

5,154

 

Restructuring and other costs, net

 

 

7,778

 

 

 

460

 

 

 

8,238

 

 

 

3,679

 

 

 

11,917

 

Non-cash adjustment

 

 

 

 

 

(486

)

 

 

(486

)

 

 

3,300

 

 

 

2,814

 

Cash payments

 

 

(8,498

)

 

 

(551

)

 

 

(9,049

)

 

 

(9,256

)

 

 

(18,305

)

Foreign exchange impact on ending balance

 

 

(8

)

 

 

10

 

 

 

2

 

 

 

 

 

 

2

 

Balance at September 30, 2023

 

 

549

 

 

 

1,033

 

 

 

1,582

 

 

 

 

 

 

1,582

 

Restructuring and other costs, net

 

 

13,410

 

 

 

73

 

 

 

13,483

 

 

 

3,594

 

 

 

17,077

 

Non-cash adjustment

 

 

 

 

 

(534

)

 

 

(534

)

 

 

(300

)

 

 

(834

)

Cash payments

 

 

(10,231

)

 

 

(569

)

 

 

(10,800

)

 

 

(2,722

)

 

 

(13,522

)

Foreign exchange impact on ending balance

 

 

30

 

 

 

(3

)

 

 

27

 

 

 

 

 

 

27

 

Balance at September 30, 2024

 

$

3,758

 

 

$

 

 

$

3,758

 

 

$

572

 

 

$

4,330

 

Fiscal Year 2024

For the fiscal year ended September 30, 2024, we recorded restructuring and other costs, net of $17.1 million, which included a $13.4 million severance charge related to the elimination of personnel, of which $8.1 million related to the Plan, $2.8 million of consulting costs relating to our transformation initiatives, and $0.8 million of other one-time charges. We are focused on pursuing

actions intended to position the Company to deliver on our generative AI and large language model product roadmap and also deliver improved financial results which include process optimization efforts and cost reductions.

Fiscal Year 2023

For the fiscal year ended September 30, 2023, we recorded restructuring and other costs, net of $11.9 million, which included a $7.8 million severance charge related to the elimination of personnel, $3.8 million of third-party fees relating to the modification of the 2025 Notes, and a $0.5 million charge resulting from the closure of facilities that will no longer be utilized.

Fiscal Year 2022

For the fiscal year ended September 30, 2022, we recorded restructuring and other costs, net of $9.0 million, which included $4.0 million, net of $5.0 million in forfeitures, in stock-based compensation due to the resignation of our former CEO and the resulting modification of certain stock-based awards, $2.6 million other one-time charges, $1.7 million severance charge related to the elimination of personnel, and $0.7 million charge resulting from the closure of facilities that will no longer be utilized.