XML 27 R16.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Leases
 6 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Leases Leases
Our leases consist primarily of office and construction equipment. All of our future lease obligations are related to non-cancelable operating leases. The following table provides a summary of lease cost components for the three and six months ended March 31, 2024 and 2023, respectively (in thousands):

Three months ended March 31,Six months ended March 31,
Lease Cost2024202320242023
Operating lease cost$249 $378 $505 $755 
     Less: sublease income— (163)— (324)
Variable lease cost(1)
23 88 53 195 
Short-term lease cost(2)
644 430 1,044 817 
Total lease cost$916 $733 $1,602 $1,443 

(1) Variable lease cost represents common area maintenance charges related to our Canadian office space lease.
(2) Short-term lease cost includes leases and rentals with initial terms of one year or less.

We recognize operating lease assets and operating lease liabilities representing the present value of the remaining lease payments for leases with initial terms greater than twelve months. Leases with initial terms of twelve months or less are not recorded in our Condensed Consolidated Balance Sheets. The following table provides a summary of the operating lease assets and operating lease liabilities included in our Condensed Consolidated Balance Sheets as of March 31, 2024 and September 30, 2023, respectively (in thousands):

Operating LeasesMarch 31, 2024September 30, 2023
Assets:
Operating lease assets, net$1,089 $1,436 
Liabilities:
Current operating lease liabilities573 773 
Long-term operating lease liabilities516 663 
Total lease liabilities$1,089 $1,436 
The following table provides the maturities of our operating lease liabilities as of March 31, 2024 (in thousands):
Operating Leases
Remainder of 2024$275 
2025443 
2026222 
2027182 
202821 
Thereafter— 
Total future minimum lease payments$1,143 
Less: present value discount (imputed interest)(54)
Present value of lease liabilities$1,089 

The weighted average discount rate as of March 31, 2024 was 3.81%. The weighted average remaining lease term was 2.57 years at March 31, 2024.