Equity and Stock-Based Compensation (Tables)

9 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

The following table summarizes our stock option activity during the nine months ended June 30, 2022:

	Options			Weighted Average Exercise Price
Outstanding at beginning of period		608,269		$	6.48
Granted		135,500			12.80
Exercised		(19,580	)		5.67
Forfeited		(26,953	)		7.08
Outstanding at end of period		697,236		$	7.71
Exercisable at end of period		464,738		$	6.66
Weighted average fair value of options granted    during the period	$	6.39

Schedule of Fair Value of Stock Option Using Black-Scholes Option Pricing Model

The fair value of options was estimated at the applicable grant date using the Black-Scholes option pricing model with the following assumptions:

	Three Months Ended June 30, 2022			Nine Months Ended June 30, 2022
Risk free interest rate		3	%		2	%
Expected term	5 years			5 years
Dividend rate		—	%		—	%
Volatility		57	%		57	%