XML 36 R23.htm IDEA: XBRL DOCUMENT v3.24.2
Supporting Financial Information (Tables)
 9 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Accounts Receivable
The following table summarizes accounts receivable presented on our consolidated balance sheets as follows (in thousands):
June 30,September 30,
20242023
Billed receivables$35,280 $38,577 
Contract assets23,061 20,542 
Accounts receivable$58,341 $59,119 
Schedule of Other Current Assets
The following table summarizes other current assets presented on our consolidated balance sheets as follows (in thousands):
June 30,September 30,
20242023
Prepaid licenses and other expenses$1,426 $1,330 
Prepaid insurance and benefits856 743 
Other receivables460 994 
Other current assets$2,742 $3,067 
Schedule of Intangible Assets
The following table summarizes intangible assets, net presented on our consolidated balance sheets as follows (in thousands):
June 30,September 30,
20242023
Intangible assets
Customer contracts and related customer relationships$113,622 $113,622 
Covenants not to compete637 637 
Trade name13,034 13,034 
Backlog37,249 37,249 
Total intangible assets164,542 164,542 
Less: accumulated amortization
Customer contracts and related customer relationships(38,455)(29,929)
Covenants not to compete(426)(378)
Trade name(3,162)(2,185)
Backlog(10,064)(7,273)
Total accumulated amortization(52,107)(39,765)
Intangible assets, net$112,435 $124,777 
Schedule of Estimated Amortization of Intangible Assets
As of June 30, 2024, the estimated amortization expense per fiscal year was as follows (in thousands):
Fiscal year ending:
2024 (remaining)$4,114 
202516,456 
202615,722 
202714,694 
202814,694 
Thereafter46,755 
Total amortization expense$112,435 
Schedule of Equipment and Improvements, Net
The following table summarizes equipment and improvements, net presented on our consolidated balance sheets as follows (in thousands):
June 30,September 30,
20242023
Furniture and equipment$1,824 $1,790 
Computer equipment and software7,072 6,479 
Leasehold improvements1,614 1,614 
Total equipment and improvements10,510 9,883 
Less: accumulated depreciation
(8,720)(8,293)
Equipment and improvements, net$1,790 $1,590 
Schedule of Accounts Payable, Accrued Expenses, and Other Current Liabilities
The following table summarizes accounts payable and accrued liabilities presented on our consolidated balance sheets as follows (in thousands):
June 30,September 30,
20242023
Accounts payable$12,513 $12,603 
Accrued benefits5,111 6,414 
Accrued workers' compensation insurance1,828 2,369 
Accrued bonus and incentive compensation2,282 4,719 
Accrued interest1,241 1,309 
Other accrued expenses214 2,290 
Accounts payable and accrued liabilities$23,189 $29,704 
Schedule of Accrued Payroll
The following table summarizes accrued payroll presented on our consolidated balance sheets as follows (in thousands):
June 30,September 30,
20242023
Accrued leave$7,718 $9,621 
Accrued payroll5,277 2,487 
Accrued payroll taxes1,115 1,173 
Accrued severance122 513 
Total accrued payroll
$14,232 $13,794 
Schedule of Debt Obligations
The following table summarizes debt obligations presented on our consolidated balance sheets as follows (in thousands):
June 30,September 30,
20242023
Secured term loan$152,000 $169,813 
Secured revolving line of credit14,490 9,546 
Less: unamortized deferred financing costs(5,586)(7,024)
Net bank debt obligations160,904 172,335 
Less: current portion of debt obligations, net of deferred financing costs (a)(17,646)(17,188)
Long-term portion of debt obligations, net of deferred financing costs$143,258 $155,147 

As of June 30, 2024, we have satisfied quarterly minimum principal payments on our secured term loan through March 31, 2025.

(a) As of June 30, 2024, the current portion comprises term loan amortization of $4.8 million and the $14.5 million outstanding balance on the secured revolving line of credit, net of $1.6 million of unamortized deferred financing costs.
Schedule of Interest Expense
The following table summarizes interest expense presented on our consolidated statements of operations as follows (in thousands):
Three Months EndedNine Months Ended
June 30,June 30,
2024202320242023
Interest expense (a)
$3,756 $4,282 $11,588 $9,972 
Interest income (b)
(10)— (34)— 
Amortization of deferred financing costs (c)
397 635 1,437 1,540 
Interest expense$4,143 $4,917 $12,991 $11,512 

(a) Interest expense on borrowing.
(b) Interest earned from customer payments received after the due date.
(c) Amortization of expenses related to secured term loan and secured revolving line of credit.