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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2020
Operating activities:      
Net income $ 19,383 $ 10,366 $ 8,411
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation of property, equipment and improvements 6,644 4,343 4,545
Amortization 30,928 16,534 14,754
Stock-based compensation 8,578 8,135 7,237
Deferred income tax provision (3,387) (4,598) (3,357)
Loss on sale of property, equipment and improvements 4 89 0
Change in fair value of contingent consideration (6,200) 5,772 (128)
Provision for bad debt and product returns 427 2,290 2,135
Provision for inventory obsolescence 6,901 1,200 2,630
Other, net (192) 42 366
Changes in operating assets and liabilities (net of acquisitions):      
Accounts receivable (541) 11,467 5,539
Inventories (41,369) 4,679 (11,133)
Other assets (545) (1,657) (704)
Income taxes (1,305) 165 (1,100)
Accounts payable 7,281 (5,578) 3,205
Accrued expenses 11,133 4,474 2,078
Net cash provided by operating activities 37,740 57,723 34,478
Investing activities:      
Acquisition of businesses, net of cash acquired (347,554) (19,108) (136,098)
Purchase of property, equipment, improvements and certain other intangible assets (1,974) (2,257) (899)
Net cash used in investing activities (349,528) (21,365) (136,997)
Financing activities:      
Proceeds from long-term debt 350,000 617 119,018
Payments of debt issuance costs 13,443 0 0
Payments on long-term debt (148,118) (15,624) (55,893)
Payments for contingent consideration 0 4,200 4,698
Proceeds from issuances of stock, net of offering expenses 0 73,830 0
Proceeds from stock option plan transactions 9,505 8,525 5,902
Proceeds from employee stock purchase plan transactions 1,500 1,214 1,065
Taxes paid for net share settlement of share-based payment awards (6,662) (2,120) (1,791)
Net cash provided by financing activities 192,782 62,242 63,603
Effect of exchange rate changes on cash and cash equivalents (1,474) (297) 253
Net (decrease) increase in cash and cash equivalents (117,532) 98,303 (38,663)
Cash and cash equivalents, beginning of period 152,432 54,129 92,792
Cash and cash equivalents, end of period 34,900 152,432 54,129
Supplemental disclosures of cash flow information:      
Interest paid 14,209 917 3,009
Income taxes paid, net 4,333 3,684 3,686
Supplemental schedule of non-cash investing and financing activities:      
Accrual for property, equipment, improvements and certain other intangibles assets (191) (98) (26)
Tenant improvement allowance 0 (1,000) 0
Transfer of inventory to property, equipment and improvements (6,237) (1,838) (1,363)
Term debt refinanced as credit facility 0 (6,200) (5,100)
Term debt refinanced as credit facility $ 0 $ 50,000 $ 0