EMCORE (EMKR) 10-Q 9 Feb 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Dec. 31, 2022	Feb. 06, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	001-36632
Entity Registrant Name	EMCORE Corporation
Entity Incorporation, State or Country Code	NJ
Entity Tax Identification Number	22-2746503
Entity Address, Address Line One	2015 W. Chestnut Street
Entity Address, City or Town	Alhambra
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91803
City Area Code	626
Local Phone Number	293-3400
Title of 12(b) Security	Common stock, no par value
Trading Symbol	EMKR
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		38,069,548
Entity Central Index Key	0000808326
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--09-30
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022
Current assets:
Cash and cash equivalents	$ 23,692	$ 25,625
Restricted cash	495	520
Accounts receivable, net of credit loss of $361 and $337, respectively	17,116	18,073
Contract assets	5,570	4,560
Inventory	39,598	37,035
Prepaid expenses	3,374	4,061
Other current assets	2,148	3,063
Total current assets	91,993	92,937
Property, plant, and equipment, net	27,660	37,867
Goodwill	16,519	17,894
Operating lease right-of-use assets	27,937	23,243
Other intangible assets, net	15,234	14,790
Other non-current assets	2,425	2,351
Total assets	181,768	189,082
Current liabilities:
Accounts payable	12,545	12,729
Accrued expenses and other current liabilities	11,197	8,124
Contract liabilities	4,125	5,300
Loan payable - current	852	852
Operating lease liabilities - current	2,530	2,213
Total current liabilities	31,249	29,218
Line of credit	6,638	9,599
Loan payable - non-current	4,829	5,042
Operating lease liabilities - non-current	26,121	21,625
Asset retirement obligations	4,110	4,664
Other long-term liabilities	0	106
Total liabilities	72,947	70,254
Commitments and contingencies (Note 13)
Shareholders’ equity:
Common stock, no par value, 100,000 shares authorized; 44,774 shares issued and 37,868 shares outstanding as of December 31, 2022; 44,497 shares issued and 37,591 shares outstanding as of September 30, 2022	789,080	787,347
Treasury stock at cost; 6,906 shares as of December 31, 2022 and September 30, 2022	(47,721)	(47,721)
Accumulated other comprehensive income	1,254	1,301
Accumulated deficit	(633,792)	(622,099)
Total shareholders’ equity	108,821	118,828
Total liabilities and shareholders’ equity	$ 181,768	$ 189,082

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022
Statement of Financial Position [Abstract]
Allowance for credit loss	$ 361	$ 337
Common stock, no par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	44,774,000	44,497,000
Common stock, shares outstanding (in shares)	37,868,000	37,591,000
Treasury stock, shares held (in shares)	6,906,000	6,906,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Revenue	$ 24,953	$ 42,236
Cost of revenue	21,894	26,439
Gross profit	3,059	15,797
Operating expense:
Selling, general, and administrative	9,944	7,187
Research and development	5,351	4,627
Severance	475	1,298
(Gain) loss on sale of assets	(1,171)	187
Total operating expense	14,599	13,299
Operating (loss) income	(11,540)	2,498
Other (expense) income:
Interest expense, net	(241)	(11)
Foreign exchange gain	75	42
Other income	107	0
Total other (expense) income	(59)	31
(Loss) income before income tax expense	(11,599)	2,529
Income tax expense	(94)	(115)
Net (loss) income	(11,693)	2,414
Foreign exchange translation adjustment	47	20
Comprehensive (loss) income	$ (11,646)	$ 2,434
Per share data:
Net (loss) income per basic share (in dollars per share)	$ (0.31)	$ 0.07
Weighted-average number of basic shares outstanding (in shares)	37,557	36,950
Net (loss) income per diluted share (in dollars per share)	$ (0.31)	$ 0.06
Weighted-average number of diluted shares outstanding (in shares)	37,557	39,031

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Treasury Stock	Accumulated other comprehensive income	Accumulated deficit
Beginning balance (in shares) at Sep. 30, 2021		36,984
Shares of common stock
Stock-based compensation (in shares)		285
Stock option exercises (in shares)		6
Ending balance (in shares) at Dec. 31, 2021		37,275
Balance, beginning of period at Sep. 30, 2021		$ 782,266	$ (47,721)	$ 687	$ (597,766)
Shares of common stock
Stock-based compensation		1,088
Stock option exercises		29
Tax withholding paid on behalf of employees for stock-based awards		(54)
Translation adjustment	$ 20			20
Pension income
Net (loss) income	2,414				2,414
Balance, end of period at Dec. 31, 2021	$ 140,963	$ 783,329	(47,721)	707	(595,352)
Beginning balance (in shares) at Sep. 30, 2022	37,591	37,591
Shares of common stock
Stock-based compensation (in shares)		277
Stock option exercises (in shares)		0
Ending balance (in shares) at Dec. 31, 2022	37,868	37,868
Balance, beginning of period at Sep. 30, 2022		$ 787,347	(47,721)	1,301	(622,099)
Shares of common stock
Stock-based compensation		1,734
Stock option exercises		0
Tax withholding paid on behalf of employees for stock-based awards		(1)
Translation adjustment	$ 47			(47)
Pension income
Net (loss) income	(11,693)				(11,693)
Balance, end of period at Dec. 31, 2022	$ 108,821	$ 789,080	$ (47,721)	$ 1,254	$ (633,792)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net (loss) income	$ (11,693)	$ 2,414
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization expense	2,034	1,010
Stock-based compensation expense	1,734	1,088
Provision adjustments related to credit loss	24	165
Provision adjustments related to product warranty	(11)	77
(Gain) loss on disposal of property, plant, and equipment	(1,171)	187
Other	(133)	(60)
Total non-cash adjustments	2,477	2,467
Changes in operating assets and liabilities:
Accounts receivable and contract assets	(77)	(575)
Inventory	(2,504)	1,126
Other assets	(3,361)	(6,773)
Accounts payable	(308)	546
Contract liabilities	(1,175)	505
Operating lease liabilities - current	318	(258)
Accrued expenses and other current liabilities	7,447	6,761
Total change in operating assets and liabilities	340	1,332
Net cash provided by operating activities	(8,876)	6,213
Cash flows from investing activities:
Purchase of equipment	(818)	(1,946)
Proceeds from disposal of property, plant, and equipment	10,900	10
Net cash used in investing activities	10,082	(1,936)
Cash flows from financing activities:
Proceeds from borrowings of credit facilities	393	0
Payments towards credit facilities	(3,567)	0
Proceeds from employee stock purchase plans and exercise of equity awards	0	29
Taxes paid related to net share settlement of equity awards	(1)	(54)
Net cash (used in) provided by financing activities	(3,175)	(25)
Effect of exchange rate changes provided by foreign currency	11	24
Net (decrease) increase in cash, cash equivalents, and restricted cash	(1,958)	4,276
Cash, cash equivalents, and restricted cash at beginning of period	26,145	71,682
Cash, cash equivalents, and restricted cash at end of period	24,187	75,958
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid during the period for interest	359	15
NON-CASH INVESTING AND FINANCING ACTIVITIES
Changes in accounts payable related to purchases of equipment	$ 122	$ (285)

Description of Business

Description of Business	3 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of BusinessEMCORE Corporation (referred to herein, together with its subsidiaries, as the “Company,” “we,” “our,” or “EMCORE”) is a leading provider of sensors for navigation in the aerospace and defense market as well as a manufacturer of chips, laser components, and optical subsystems for use in the Broadband and Cable TV (“CATV”) industries. We pioneered the linear fiber optic transmission technology that enabled the world’s first delivery of CATV directly on fiber, and today are a leading provider of advanced mixed-signal products serving the aerospace and defense and broadband communications markets. The mixed-signal technology, at the heart of our broadband communications products, is shared with our fiber optic gyros (“FOGs”) and other inertial sensors to provide the aerospace and defense markets with state-of-the-art navigation systems technology. Over the last three years, we have expanded our scale and portfolio of inertial sensor products through the acquisitions of Systron Donner Inertial, Inc. (“SDI”) in June 2019, the Space and Navigation (“S&N”) business of L3Harris Technologies, Inc. (“L3H”) in April 2022, and the FOG and Inertial Navigation Systems business (“EMCORE Chicago”) of KVH Industries, Inc. (“KVH”) in August 2022. We have fully vertically-integrated manufacturing capability at our headquarters in Alhambra, CA, and at our facilities in Budd Lake, NJ, Concord, CA, and Tinley Park, IL (the “Tinley Park Facility”). These facilities support our vertically-integrated manufacturing strategy for quartz, FOG, and Ring Laser Gyro products for navigation systems, and for our chip, laser, transmitter, and receiver products for broadband applications. We design and manufacture industry-leading Quartz Mems (“QMEMS”), lithium niobate, and indium phosphide (InP) chip-level technology to deliver state-of-the-art component and system-level products across our end-market applications. Our best-in-class components and systems support a broad array of applications including navigation and inertial sensing, defense optoelectronics, broadband communications, optical sensing, and specialty chips for telecom and data center applications.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim information, and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X promulgated by the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all information and notes required by U.S. GAAP for annual financial statements. In our opinion, the interim financial statements reflect all adjustments, which are all normal recurring adjustments, that are necessary to provide a fair presentation of the financial results for the interim periods presented. Operating results for interim periods are not necessarily indicative of results that may be expected for an entire fiscal year. The condensed consolidated balance sheet as of September 30, 2022 has been derived from the audited consolidated financial statements as of such date. For a more complete understanding of our business, financial position, operating results, cash flows, risk factors, and other matters, please refer to our Annual Report on Form 10-K for the fiscal year ended September 30, 2022. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, as of the date of the financial statements, and the reported amounts of revenue and expenses during the reported period. Such estimates include accounts receivable, inventories, goodwill, long-lived assets, product warranty liabilities, legal contingencies, income taxes, asset retirement obligations, and pension obligation, as well as the evaluation associated with the Company's assessment of its ability to continue as a going concern. We develop estimates based on historical experience and on various assumptions about the future that are believed to be reasonable based on the best information available to us. Our reported financial position or results of operations may be materially different under changed conditions or when using different estimates and assumptions, particularly with respect to significant accounting policies. In the event that estimates or assumptions prove to differ from actual results, adjustments are made in subsequent periods to reflect more current information.

Acquisitions

Acquisitions	3 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	AcquisitionsOn April 29, 2022, we completed the acquisition of the L3H S&N business for a total purchase price of approximately $5.0 million in cash, exclusive of transaction costs and expenses and subject to certain post-closing working capital adjustments, resulting in a final adjusted purchase consideration transferred of $4.9 million. Following the closing, S&N results are included in our Aerospace and Defense (“A&D”) reportable segment and in our consolidated financial statements beginning on the acquisition date. Revenue and net income of S&N of $5.5 million and $1.1 million, respectively, is included in our condensed consolidated statements of operations and comprehensive (loss) income for the three months ended December 31, 2022. On August 9, 2022, we completed the acquisition of EMCORE Chicago pursuant to which we acquired substantially all of KVH's assets and liabilities primarily related to its FOG and Inertial Navigation Systems business, including property interests in the Tinley Park Facility, for aggregate consideration of approximately $55.0 million, exclusive of transaction costs and expenses and subject to certain post-closing working capital adjustments. Following the closing, EMCORE Chicago results are included in our A&D reportable segment and in our consolidated financial statements beginning on the acquisition date. Revenue and net income of EMCORE Chicago of $7.8 million and $1.4 million, respectively, is included in our condensed consolidated statements of operations and comprehensive (loss) income for the three months ended December 31, 2022. Preliminary Purchase Price Allocation The total purchase price for each of the S&N acquisition and the EMCORE Chicago acquisition was allocated to the assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date. Due to the fact that each such acquisition occurred in the most recent 12-month period, the Company's fair value estimates for the purchase price allocations are preliminary. The final determination of fair value for the assets acquired and liabilities assumed is subject to further change and will be completed as soon as possible, but no later than one year from the applicable acquisition date. Since the acquisition, the preliminary purchase price allocation for S&N has changed by a $2.3 million reduction to contract assets and a $0.6 million reduction to asset retirement obligation, resulting in a corresponding increase to intangible assets and goodwill acquired. Goodwill is measured as the excess of the fair value of the purchase consideration transferred over the fair value of the identifiable net assets. Any changes in the fair values of the assets acquired and liabilities assumed during the measurement period may result in a material adjustment to goodwill. Goodwill from these acquisitions totaled $16.4 million, of which 81.1% was the result of the EMCORE Chicago acquisition, which expanded EMCORE's competitive position in the Inertial Navigation market. The table below represents the preliminary purchase price allocation to the assets acquired and liabilities assumed of S&N based on their estimated fair values as of the acquisition date based on management’s best estimates and assumptions: (in thousands) Amount Tangible assets acquired: Accounts receivable $ 803 Inventory 370 Contract assets 3,920 Operating lease right-of-use assets 1,529 Property, plant, and equipment 1,996 Net pension benefit assets 1,727 Intangible assets acquired 2,740 Goodwill 3,108 Liabilities assumed: Accounts payable (1,226) Accrued expenses (622) Contract liabilities (6,024) Operating lease liabilities (1,565) Asset retirement obligation (1,895) Total purchase consideration $ 4,861 The table below represents the preliminary purchase price allocation to the assets acquired and liabilities assumed of EMCORE Chicago based on their estimated fair values as of the acquisition date based on management’s best estimates and assumptions: (in thousands) Amount Tangible assets acquired: Accounts receivable $ 4,977 Inventory 10,800 Prepaid expenses and other current assets 1,483 Property, plant, and equipment 14,442 Intangible assets acquired 12,770 Goodwill 13,342 Liabilities assumed: Accounts payable (1,699) Accrued expenses (485) Contract liabilities (637) Other long-term liabilities (8) Total purchase consideration $ 54,985 Included in intangible assets acquired are customer relationships of $4.0 million, technology of $2.6 million, in-process research and development of $6.7 million, and trademarks of $2.2 million. For the three months ended December 31, 2022, the Company incurred transaction costs of approximately $2.1 million, in connection with the acquisitions, which were expensed as incurred and included in selling, general, and administrative (“SG&A”) expenses within the accompanying condensed consolidated statements of operations and comprehensive (loss) income. Unaudited Pro Forma Financial Information The following unaudited pro forma financial information presented for the three months ended December 31, 2021 does not purport to be indicative of the results of operations that would have been achieved had the EMCORE Chicago acquisition been consummated on October 1, 2020, nor of the results which may occur in the future. The pro forma amounts are based upon available information and certain assumptions that the Company believes are reasonable. Three Months Ended December 31, 2021 Historical (in thousands, except per share data) EMCORE Corporation EMCORE Chicago Pro Forma Adjustments Pro Forma Combined Revenue $ 42,236 $ 7,698 $ — $ 49,934 Cost of revenue 26,439 5,827 171 (a) 32,437 Gross profit 15,797 1,871 (171) 17,497 Operating expense: Selling, general, and administrative 7,187 2,684 (1,026) (a)(b) 8,845 Research and development 4,627 1,443 (264) (a)(b) 5,806 Severance 1,298 — — 1,298 (Gain) loss on sale of assets 187 — — 187 Total operating expense 13,299 4,127 (1,290) 16,136 Operating (loss) income 2,498 (2,256) 1,119 1,361 Other (expense) income: 0 Interest expense, net (11) — 318 (c) 307 Foreign exchange gain 42 — — 42 Other income — 33 — 33 Total other (expense) income 31 33 318 382 (Loss) income before income tax expense 2,529 (2,223) 1,437 1,743 Income tax expense (115) (13) (5) (d)(e) (133) Net (loss) income 2,414 (2,236) 1,432 1,610 Foreign exchange translation adjustment 20 — — 20 Comprehensive (loss) income $ 2,434 $ (2,236) 1,432 $ 1,630 Per share data: Net (loss) income per basic share $ 0.07 $ — $ 0.04 Weighted-average number of basic shares outstanding 36,950 — 36,950 Net (loss) income per diluted share $ 0.06 $ — $ 0.04 Weighted-average number of diluted shares outstanding 39,031 — 39,031 (a) Reflects the impact to depreciation expense and amortization expense as a result of the change in fair value of property, plant, and equipment and intangible assets acquired. Adjustment was made to the unaudited pro forma condensed combined statements of operations for the three months ended December 31, 2022. (b) Reflects the deduction of various sales, general, and administrative and research and development expenses allocated from corporate overhead to EMCORE Chicago during the periods presented that will not be incurred on an ongoing basis as a result of existing EMCORE management structures in place, which will provide the same support to EMCORE Chicago upon completion of a transition services agreement entered into between EMCORE and KVH in connection with the EMCORE Chicago acquisition. Amounts were estimated based on historical allocation included in the stand-alone financial statements of EMCORE Chicago. However, actual costs to be incurred associated with corporate support may vary under the EMCORE structure. (c) Reflects the impact of interest expense related to cash from borrowing facility for funding of the transaction. (d) Reflects the current tax expense due to additional income and deferred income tax expense related to deferred tax liability generated from annual tax amortization of indefinite-lived assets that were acquired for the periods presented. Such amounts were determined based on the effective tax rate of EMCORE rather than statutory tax rates as a result of a tax valuation allowance covering substantially all deferred tax assets and the existence of tax loss carryforwards present at both entities.

Cash, Cash Equivalents and Rest

Cash, Cash Equivalents and Restricted Cash	3 Months Ended
	Dec. 31, 2022
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents, and Restricted Cash The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the unaudited condensed consolidated balance sheets that sum to the total of the same amounts shown in the unaudited condensed consolidated statements of cash flows: (in thousands) December 31, 2022 September 30, 2022 Cash $ 18,037 $ 20,011 Cash equivalents 5,655 5,614 Restricted cash 495 520 Total cash, cash equivalents, and restricted cash $ 24,187 $ 26,145

Accounts Receivable, net

Accounts Receivable, net	3 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Accounts Receivable, net	Accounts Receivable, net The components of accounts receivable, net consisted of the following: (in thousands) December 31, 2022 September 30, 2022 Accounts receivable, gross $ 17,477 $ 18,410 Allowance for credit loss (361) (337) Accounts receivable, net $ 17,116 $ 18,073

Inventory

Inventory	3 Months Ended
	Dec. 31, 2022
Inventory Disclosure [Abstract]
Inventory	Inventory The components of inventory consisted of the following: (in thousands) December 31, 2022 September 30, 2022 Raw materials $ 24,831 $ 22,927 Work in-process 10,586 9,587 Finished goods 4,181 4,521 Inventory $ 39,598 $ 37,035

Property, Plant, and Equipment,

Property, Plant, and Equipment, net	3 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property, Plant, and Equipment, net	Property, Plant, and Equipment, net The components of property, plant, and equipment, net consisted of the following: (in thousands) December 31, 2022 September 30, 2022 Land $ — $ 995 Building — 8,805 Equipment 47,100 42,330 Furniture and fixtures 1,394 1,394 Computer hardware and software 3,379 3,378 Leasehold improvements 7,750 7,180 Construction in progress 5,528 9,886 Property, plant, and equipment, gross $ 65,151 $ 73,968 Accumulated depreciation (37,491) (36,101) Property, plant, and equipment, net $ 27,660 $ 37,867 Depreciation expense totaled $1.5 million during the three months ended December 31, 2022. During the three months ended December 31, 2022, the Company consummated the sale of the real property interests in the Tinley Park Facility to 8400 W 185TH STREET INVESTORS, LLC, resulting in net proceeds of approximately $10.3 million and a gain on sale of assets of $1.2 million. During the three months ended December 31, 2021, the Company sold certain equipment and recognized a loss on sale of assets of $0.2 million. During the fiscal year ended September 30, 2022, there was a triggering event of negative cash flows and operating losses at the FOG asset group level within the Inertial Navigation product line of the A&D segment that indicated the carrying amounts of our long-lived assets may not be recoverable. In accordance with ASC 360, with regard to our long-lived assets, we performed an undiscounted cash flow analysis and concluded that the carrying value of the asset group was not recoverable. Accordingly, we then performed an analysis to estimate the fair value of the other long-lived assets and recognized an impairment charge within operating expenses of $3.0 million against the FOG property, plant, and equipment by the amount by which the carrying value of the asset group's other long-lived assets exceeded their estimated fair value for the fiscal year ended September 30, 2022. Key assumptions utilized in the determination of fair value include expected future cash flows and working capital requirements. While we believe the expectations and assumptions about the future are reasonable, they are inherently uncertain. Geographical Concentrations Long-lived assets consist of land, building, property, plant, and equipment. As of December 31, 2022 and September 30, 2022, 94.4% and 95.4%, respectively, of our long-lived assets were located in the United States.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	3 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill Intangible assets arose from the acquisition of SDI in fiscal year 2019 and the acquisitions of S&N and EMCORE Chicago in fiscal year 2022 and are reported within the A&D segment. Definite-lived intangible assets are amortized on a straight-line basis over the estimated useful life of: (a) 7.0 years for patents, (b) 8.0 years for customer relationships, and (c) 2.0-8.0 years for technology. In-process research and development (“IPR&D”) is indefinite-lived until completion of the related development project, at which point amortization of the carrying value of the technology will commence. Trademarks are indefinite-lived. The following table summarizes changes in intangible assets, net: (in thousands) December 31, 2022 September 30, 2022 Balance at beginning of period $ 14,790 $ 167 Changes from acquisition 770 14,740 Amortization (326) (117) Balance at end of period $ 15,234 $ 14,790 The weighted average remaining useful lives by definite-lived intangible asset category are as follows: December 31, 2022 (in thousands, except weighted average remaining life) Weighted Average Remaining Life (in years) Gross Carrying Amount Accumulated Amortization Net Book Value Technology 3.7 $ 11,001 $ (8,424) $ 2,577 Customer relationships 3.5 3,990 (213) 3,777 Definite-lived intangible assets total $ 14,991 $ (8,637) $ 6,354 As of December 31, 2022 IPR&D and trademarks was approximately $6.7 million and $2.2 million, respectively. September 30, 2022 (in thousands, except weighted average remaining life) Weighted Average Remaining Life (in years) Gross Carrying Amount Accumulated Amortization Net Book Value Technology 5.4 $ 10,991 $ (8,261) $ 2,730 Customer relationships 4.6 3,260 (50) 3,210 Definite-lived intangible assets total $ 14,251 $ (8,311) $ 5,940 As of September 30, 2022 IPR&D and trademarks was approximately $6.7 million and $2.2 million, respectively. Estimated future amortization expense for intangible assets recorded by the Company as of December 31, 2022 is as follows: (in thousands) Amount 2023 $ 862 2024 1,131 2025 1,104 2026 702 2027 679 Thereafter 1,876 Total amortization expense $ 6,354 Goodwill is recorded when the consideration for an acquisition exceeds the fair value of net tangible and identifiable intangible assets acquired. $16.4 million of the Company's goodwill of $16.5 million relates to the recent S&N and EMCORE Chicago acquisitions and is recorded within the A&D segment. None of the Company's goodwill is deductible for tax purposes. The following table summarizes changes in goodwill: (in thousands) December 31, 2022 September 30, 2022 Balance at beginning of period $ 17,894 $ 69 Adjustments to preliminary purchase price allocation (1,375) 17,825 Balance at end of period $ 16,519 $ 17,894

Benefit Plans

Benefit Plans	3 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Benefit Plans	Benefit Plans We assumed a defined benefit pension plan (the “Pension Plan”) on April 29, 2022 as a result of the acquisition of S&N. The Pension Plan was frozen to new hires as of March 31, 2007 and employees hired on or after April 1, 2007 are not eligible to participate in the Pension Plan. On July 1, 2022, the Pension Plan was amended to freeze benefit plan accruals for participants. As a result of the freeze, a curtailment was triggered and a restatement of the benefit obligation and plan assets occurred, although no gain or loss resulted. The annual measurement date for the Pension Plan is September 30. Benefits are based on years of credited service at retirement. Annual contributions to the Pension Plan are not less than the minimum funding standards outlined in the Employee Retirement Income Security Act of 1974, as amended. We maintain the Pension Plan with the goal of ensuring that it is adequately funded to meet its future obligations. We did not make any contributions to the Pension Plan during the three months ended December 31, 2022 and do not anticipate making any contributions for the remainder of the fiscal year ending September 30, 2023. The components of net periodic pension cost are as follows: (in thousands) Three Months Ended December 31, 2022 Service cost $ 26 Interest cost 93 Expected return on plan assets (84) Net periodic pension cost $ 35 The service cost component of total pension expense is included as a component of SG&A expense on the condensed consolidated statements of operations and comprehensive (loss) income for the three months ended December 31, 2022. The interest cost and expected return on plan assets components of total pension expense are included as components of other (expense) income on the condensed consolidated statements of operations and comprehensive (loss) income for the three months ended December 31, 2022. Net pension asset is included as a component of other non-current assets on the condensed consolidated balance sheets as of December 31, 2022. As of December 31, 2022, the Pension Plan assets consist of cash and cash equivalents, and we manage a liability driven investment strategy intended to maintain fully-funded status. 401(k) Plan We have a savings plan that qualifies as a deferred salary arrangement under Section 401(k) of the Internal Revenue Code. Under this savings plan, participating employees may defer a portion of their pretax earnings, up to the Internal Revenue Service annual contribution limit. Our matching contribution in cash for each of the three months ended December 31, 2022 and 2021, was $0.2 million.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	3 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	Accrued Expenses and Other Current Liabilities The components of accrued expenses and other current liabilities consisted of the following: (in thousands) December 31, 2022 September 30, 2022 Compensation $ 5,964 $ 4,213 Warranty 1,522 1,504 Commissions 429 228 Consulting 264 241 Legal expenses and other professional fees 242 275 Income and other taxes 108 — Severance and restructuring accruals 854 423 Litigation settlement 294 341 Other 1,520 899 Accrued expenses and other current liabilities $ 11,197 $ 8,124 Severance and restructuring-related accruals specifically relate to the reductions in force. Expense related to severance and restructuring accruals is included in SG&A expense on the condensed consolidated statements of operations and comprehensive (loss) income. In an effort to better align current and future business operations related to CATV product lines, we reduced our workforce and recorded $0.5 million and $1.4 million in severance expense in the three months ended December 31, 2022 and 2021, respectively. As of December 31, 2022 and September 30, 2022 there was $0.9 million and $0.4 million accrued severance expense, respectively. We expect all severance to be fully paid by the quarter ending June 30, 2023.

Credit Agreement

Credit Agreement	3 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Credit Agreement	Credit Agreement Wingspire Credit Agreement On August 9, 2022, EMCORE and EMCORE Space & Navigation Corporation, our wholly-owned subsidiary, entered into that certain Credit Agreement with the lenders party thereto and Wingspire Capital LLC (“Wingspire”), as administrative agent for the lenders, as amended pursuant to that First Amendment to Credit Agreement, dated as of October 25, 2022, among EMCORE and EMCORE Space & Navigation Corporation, EMCORE Chicago Inertial Corporation, our wholly-owned subsidiary (together with the Company and S&N, the “Borrowers”), the lenders party thereto and Wingspire, to add EMCORE Chicago as a Borrower and include certain of its assets in the borrowing base (as amended, the “Credit Agreement”). The Credit Agreement provides for two credit facilities: (a) an asset-based revolving credit facility in an aggregate principal amount of up to $40.0 million, subject to a borrowing base consisting of eligible accounts receivable and eligible inventory (subject to certain reserves), and (b) a term loan facility in an aggregate principal amount of approximately $6.0 million. The proceeds of the loans made under the Credit Agreement may be used for general corporate purposes. Borrowings under the Credit Agreement will mature on August 8, 2025, and bear interest at a rate per annum equal to term SOFR plus a margin of (i) 3.75% or 5.50% in the case of revolving loans, depending on the applicable assets corresponding to the borrowing base pursuant to which the applicable loans are made and (ii) 5.50% in the case of the term loan. In addition, the Borrowers are responsible for Wingspire’s annual collateral monitoring fees as well as the lenders’ fees and expenses, including a closing fee of 1.0% of the aggregate principal amount of the commitments as of the closing with respect to revolving loans and 1.50% of the aggregate principal amount of the term loan. The Borrowers may also be required to pay an unused line fee of 0.50% in respect of the undrawn portion of the revolving commitments, which is generally based on average daily usage of the revolving facility during the immediately preceding month. The Credit Agreement contains representations and warranties, affirmative and negative covenants that are generally customary for credit facilities of this type. Among others, the Credit Agreement contains various covenants that, subject to agreed upon exceptions, limit the Borrowers’ and their respective subsidiaries’ ability to incur indebtedness, grant liens, enter into sale and leaseback transactions, enter into swap agreements, make loans, acquisitions and investments, change the nature of their business, acquire or sell assets or consolidate or merge with or into other persons or entities, declare or pay dividends or make other restricted payments, enter into transactions with affiliates, enter into burdensome agreements, change fiscal year, amend organizational documents, and use proceeds to fund any activities of or business with any person that is the subject of governmental sanctions. In addition, the Credit Agreement requires that, for any period commencing upon the occurrence of an event of default or excess availability under the Credit Agreement being less than the greater of $5.0 million and 15% of the revolving commitments until such time as no event of default shall be continuing and excess availability under the Credit Agreement shall be at least the greater of $5.0 million and 15% of the revolving commitments for a period of 60 consecutive days, the Borrowers satisfy a consolidated fixed charge coverage ratio of not less than 1.10:1.00. The Credit Agreement also includes customary events of default, the occurrence of which, following any applicable grace period, would permit the lenders to, among other things, declare the principal, accrued interest and other obligations of the Borrowers under the Credit Agreement to be immediately due and payable, and exercise rights and remedies available to the lenders under the Credit Agreement or applicable law or equity. In connection with the Credit Agreement, the Borrowers entered into a pledge and security agreement pursuant to which the obligations under the Credit Agreement are secured on a senior secured basis (subject to permitted liens) by substantially all assets of the Borrowers and substantially all assets of any future guarantors. As of December 31, 2022, an aggregate principal amount of $6.6 million was outstanding pursuant to the revolving credit facility and an aggregate principal amount of $5.7 million was outstanding pursuant to the term loan facility. As of September 30, 2022, an aggregate principal amount of $9.6 million was outstanding pursuant to the revolving credit facility and an aggregate principal amount of $5.9 million was outstanding pursuant to the term loan facility. Also, as of December 31, 2022, the revolving credit facility had approximately $15.0 million available for borrowing. Provided that no event of default has occurred, and subject to availability limitation, loans under the revolving credit facility can continue to be drawn/redrawn/outstanding until expiration in 2025. Our future term loan repayments as of December 31, 2022 is as follows: (in thousands) Amount 2023 $ 638 2024 852 2025 852 2026 3,339 Total loan payments $ 5,681

Income and Other Taxes

Income and Other Taxes	3 Months Ended
	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income and Other Taxes	Income and Other Taxes During the three months ended December 31, 2022 and 2021, the Company recorded an income tax expense of $94,000 and $115,000, respectively. Income tax expense during the three months ended December 31, 2022 is composed primarily of state tax expense and tax expense generated from the tax amortization on acquired indefinitely lived assets. Income tax expense during the three months ended December 31, 2021 is composed primarily of state tax expense which is driven by the State of California's temporary suspension of net operating loss ("NOL") utilization. For the three months ended December 31, 2022 and 2021 the effective tax rate on continuing operations was 0.8% and 4.5%, respectively. The tax rate for the three months ended December 31, 2021 is primarily driven by the State of California’s temporary suspension of NOL utilization. The Company uses estimates to forecast the results from continuing operations for the current fiscal year as well as permanent differences between book and tax accounting. We have not provided for income taxes on non-U.S. subsidiaries’ undistributed earnings as of December 31, 2022 because we plan to indefinitely reinvest the unremitted earnings of our non-U.S. subsidiaries and all of our non-U.S. subsidiaries historically have negative earnings and profits. All deferred tax assets have a full valuation allowance as of December 31, 2022, except for the tax amortization of indefinitely lived goodwill, which cannot be utilized to reduce deferred tax assets. On a quarterly basis, the Company evaluates the positive and negative evidence to assess whether the more likely than not criteria has been satisfied in determining whether there will be further adjustments to the valuation allowance. As of December 31, 2022 and September 30, 2022, we did not accrue any significant uncertain tax benefit, interest, or penalties as tax liabilities on our condensed consolidated balance sheets. During the three months ended December 31, 2022, there were no material increases or decreases in unrecognized tax benefits.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesIndemnifications We have agreed to indemnify certain customers against claims of infringement of intellectual property rights of others in our sales contracts with these customers. Historically, we have not paid any claims under these customer indemnification obligations. We enter into indemnification agreements with each of our directors and executive officers pursuant to which we agree to indemnify them for certain potential expenses and liabilities arising from their status as a director or executive officer of the Company. We maintain directors and officers insurance, which covers certain liabilities relating to our obligation to indemnify our directors and executive officers in certain circumstances. It is not possible to determine the aggregate maximum potential loss under these indemnification agreements due to the limited history of prior indemnification claims and the unique facts and circumstances involved in each particular claim. Legal Proceedings We are subject to various legal proceedings, claims, and litigation, either asserted or unasserted, that arise in the ordinary course of business. The outcome of these matters is currently not determinable and we are unable to estimate a range of loss, should a loss occur, from these proceedings. The ultimate outcome of legal proceedings involves judgments, estimates, and inherent uncertainties and the results of these matters cannot be predicted with certainty. Professional legal fees are expensed when incurred. We accrue for contingent losses when such losses are probable and reasonably estimable. In the event that estimates or assumptions prove to differ from actual results, adjustments are made in subsequent periods to reflect more current information. Should we fail to prevail in any legal matter, or should several legal matters be resolved against the Company in the same reporting period, then the financial results of that particular reporting period could be materially affected. Intellectual Property Lawsuits We protect our proprietary technology by applying for patents where appropriate and, in other cases, by preserving the technology, related know-how, and information as trade secrets. The success and competitive position of our product lines are impacted by our ability to obtain intellectual property protection for our research and development efforts. We have, from time to time, exchanged correspondence with third parties regarding the assertion of patent or other intellectual property rights in connection with certain of our products and processes. Resilience Litigation In February 2021, Resilience Capital (“Resilience”) filed a complaint against us with the Delaware Chancery Court containing claims arising from the February 2020 sale of SDI’s real property (the “Concord Property Sale”) located in Concord, California (the “Concord Real Property”) to Eagle Rock Holdings, LP (“Buyer”) and that certain Single-Tenant Triple Net Lease, dated as of February 10, 2020, entered into by and between SDI and the Buyer, pursuant to which SDI leased from the Buyer the Concord Real Property for a 15-year term. The Resilience complaint seeks, among other items, (a) a declaration that the Concord Property Sale included a non-cash component, (b) a decree requiring us and Resilience to follow the appraisal requirements set forth in that certain Purchase and Sale Agreement (the “SDI Purchase Agreement”), dated as of June 7, 2019, by and among the Company, The Resilience Fund IV, L.P., The Resilience Fund IV-A, L.P., Aerospace Newco Holdings, Inc. and Ember Acquisition Sub, Inc., (c) recovery of Resilience’s costs and expenses, and (d) pre- and post-judgment interest. In April 2021, we filed with the Delaware Chancery Court our answer to the Resilience complaint and counterclaims against Resilience, in which we are seeking, among other items, (a) dismissal of the Resilience complaint and/or granting of judgment in favor of EMCORE with respect to the Resilience complaint, (b) entering final judgment against Resilience awarding damages to us for Resilience’s fraud and breaches of the SDI Purchase Agreement in an amount to be proven at trial and not less than $1,565,000, (c) a judicial determination of the respective rights and duties of us and Resilience under the SDI Purchase Agreement, (d) an award to us of costs and expenses, and (e) pre- and post-judgment interest. We believe that the claims made by Resilience in its complaint are without merit and we intend to vigorously defend ourselves against them.

Equity

Equity	3 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Equity	Equity Equity Plans We provide long-term incentives to eligible officers, directors, and employees in the form of equity-based awards. We maintain four equity incentive compensation plans, collectively described as our “Equity Plans”: (a) the 2010 Equity Incentive Plan (the “2010 Plan”), (b) the 2012 Equity Incentive Plan (the “2012 Plan”), (c) the Amended and Restated 2019 Equity Incentive Plan (the “2019 Plan”), and (d) the 2022 New Employee Inducement Plan. We issue new shares of common stock to satisfy awards granted under our Equity Plans. In December 2022, our Board of Directors approved an amendment to the 2019 Plan, which, subject to shareholder approval at our 2023 annual meeting of shareholders, would increase the maximum number of shares of the Company’s common stock that may be issued or transferred pursuant to awards under the 2019 Plan by an additional 1.549 million shares. Stock-Based Compensation The following table sets forth stock-based compensation expense by award type: Three Months Ended December 31, (in thousands) 2022 2021 Employee stock options $ — $ — RSUs and RSAs 915 554 PSUs and PRSAs 693 407 Outside director equity awards and fees in common stock 126 127 Total stock-based compensation expense $ 1,734 $ 1,088 The following table sets forth stock-based compensation expense by expense type: Three Months Ended December 31, (in thousands) 2022 2021 Cost of revenue $ 387 $ 151 Selling, general, and administrative 1,075 755 Research and development 272 182 Total stock-based compensation expense $ 1,734 $ 1,088 (Loss) Income Per Share The following table sets forth the computation of basic and diluted net (loss) income per share: Three Months Ended December 31, (in thousands, except per share data) 2022 2021 Numerator Net (loss) income $ (11,693) $ 2,414 Denominator Weighted average number of shares outstanding - basic 37,557 36,950 Effect of dilutive securities Stock options — 7 PSUs, RSUs, and restricted stock — 2,074 Weighted average number of shares outstanding - diluted 37,557 39,031 Earnings per share - basic $ (0.31) $ 0.07 Earnings per share - diluted $ (0.31) $ 0.06 Weighted average antidilutive options, unvested RSUs and RSAs, and unvested PSUs excluded from the computation 2,807 53 Basic earnings per share (“EPS”) is computed by dividing net (loss) income for the period by the weighted-average number of common stock outstanding during the period. Diluted EPS is computed by dividing net (loss) income for the period by the weighted average number of common stock outstanding during the period, plus the dilutive effect of outstanding restricted stock units (“RSUs”) and restricted stock awards (“RSAs”), performance stock units (“PSUs”), and stock options as applicable pursuant to the treasury stock method. Certain of the Company's outstanding share-based awards, noted in the table above, were excluded because they were anti-dilutive, but they could become dilutive in the future. The anti-dilutive stock options and shares of outstanding and unvested restricted stock were excluded from the computation of earnings per share for the three months ended December 31, 2022 due to the Company incurring a net loss for such period. Future Issuances Common stock reserved for future issuances as of December 31, 2022 was as follows: Amount Exercise of outstanding stock options 9,981 Unvested RSUs and RSAs 2,644,870 Unvested PSUs and PRSAs (at 200% maximum payout) 2,722,106 Issuance of stock-based awards under the Equity Plans 1,128,932 Purchases under the officer and director share purchase plan 88,741 Total reserved 6,594,630

Segment and Revenue Information

Segment and Revenue Information	3 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Segment and Revenue Information	Segment and Revenue Information Reportable Segments Reported below are the Company’s segments for which separate financial information is available and upon which operating results are evaluated by the chief operating decision maker, the Chief Executive Officer, to assess performance and to allocate resources. We do not allocate sales and marketing, general and administrative expenses, or interest expense and interest income to our segments because management does not include the information in its measurement of the performance of the operating segments. Also, a measure of segment assets and liabilities has not been provided to the Company's chief operating decision maker and therefore is not shown below. Information on reportable segments utilized by the chief operating decision maker is as follows: Three Months Ended December 31, (in thousands) 2022 2021 Revenue Aerospace and Defense $ 21,675 $ 9,900 Broadband 3,278 32,336 Total revenue $ 24,953 $ 42,236 Segment profit Aerospace and Defense gross profit $ 4,108 $ 1,684 Aerospace and Defense research and development expense 4,349 4,162 Aerospace and Defense segment profit $ (241) $ (2,478) Broadband gross profit $ (1,049) $ 14,113 Broadband research and development expense 1,002 465 Broadband segment profit $ (2,051) $ 13,648 Total segment profit $ (2,292) $ 11,170 Product Categories Revenue is classified by major product category as presented below: Three Months Ended December 31, (in thousands) 2022 2021 Aerospace and Defense Inertial Navigation $ 19,979 $ 8,145 Defense Optoelectronics 1,696 1,755 Broadband CATV Optical Transmitters and Components 1,553 28,459 Data Center Chips 407 1,068 Optical Sensing 1,318 2,809 Total revenue $ 24,953 $ 42,236 Timing of Revenue The following table sets forth revenue by geographic area based on our customers’ billing address: Three Months Ended December 31, (in thousands) 2022 2021 Trade revenue (recognized at a point in time) $ 19,107 $ 41,692 Contract revenue (recognized over time) 5,846 544 Total revenue $ 24,953 $ 42,236 Geographical Concentration Three Months Ended December 31, (in thousands) 2022 2021 United States and Canada $ 19,002 $ 38,056 Asia 1,420 3,086 Europe 3,203 820 Other 1,328 274 Total revenue $ 24,953 $ 42,236 Customer Concentration Portions of the Company’s sales are concentrated among a limited number of customers. Significant customers are defined as customers representing greater than 10% of consolidated revenue. Revenue from two significant customers represented an aggregate of 38% and 65% of our consolidated revenue for the three months ended December 31, 2022 and 2021, respectively. The percentage from significant customers decreased due to lower CATV revenue from our Broadband segment.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim information, and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X promulgated by the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all information and notes required by U.S. GAAP for annual financial statements. In our opinion, the interim financial statements reflect all adjustments, which are all normal recurring adjustments, that are necessary to provide a fair presentation of the financial results for the interim periods presented. Operating results for interim periods are not necessarily indicative of results that may be expected for an entire fiscal year. The condensed consolidated balance sheet as of September 30, 2022 has been derived from the audited consolidated financial statements as of such date. For a more complete understanding of our business, financial position, operating results, cash flows, risk factors, and other matters, please refer to our Annual Report on Form 10-K for the fiscal year ended September 30, 2022.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities, as of the date of the financial statements, and the reported amounts of revenue and expenses during the reported period. Such estimates include accounts receivable, inventories, goodwill, long-lived assets, product warranty liabilities, legal contingencies, income taxes, asset retirement obligations, and pension obligation, as well as the evaluation associated with the Company's assessment of its ability to continue as a going concern. We develop estimates based on historical experience and on various assumptions about the future that are believed to be reasonable based on the best information available to us. Our reported financial position or results of operations may be materially different under changed conditions or when using different estimates and assumptions, particularly with respect to significant accounting policies. In the event that estimates or assumptions prove to differ from actual results, adjustments are made in subsequent periods to reflect more current information.
Legal Costs	Professional legal fees are expensed when incurred. We accrue for contingent losses when such losses are probable and reasonably estimable.

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The table below represents the preliminary purchase price allocation to the assets acquired and liabilities assumed of S&N based on their estimated fair values as of the acquisition date based on management’s best estimates and assumptions: (in thousands) Amount Tangible assets acquired: Accounts receivable $ 803 Inventory 370 Contract assets 3,920 Operating lease right-of-use assets 1,529 Property, plant, and equipment 1,996 Net pension benefit assets 1,727 Intangible assets acquired 2,740 Goodwill 3,108 Liabilities assumed: Accounts payable (1,226) Accrued expenses (622) Contract liabilities (6,024) Operating lease liabilities (1,565) Asset retirement obligation (1,895) Total purchase consideration $ 4,861 The table below represents the preliminary purchase price allocation to the assets acquired and liabilities assumed of EMCORE Chicago based on their estimated fair values as of the acquisition date based on management’s best estimates and assumptions: (in thousands) Amount Tangible assets acquired: Accounts receivable $ 4,977 Inventory 10,800 Prepaid expenses and other current assets 1,483 Property, plant, and equipment 14,442 Intangible assets acquired 12,770 Goodwill 13,342 Liabilities assumed: Accounts payable (1,699) Accrued expenses (485) Contract liabilities (637) Other long-term liabilities (8) Total purchase consideration $ 54,985
Schedule of Unaudited Pro Forma Information	The following unaudited pro forma financial information presented for the three months ended December 31, 2021 does not purport to be indicative of the results of operations that would have been achieved had the EMCORE Chicago acquisition been consummated on October 1, 2020, nor of the results which may occur in the future. The pro forma amounts are based upon available information and certain assumptions that the Company believes are reasonable. Three Months Ended December 31, 2021 Historical (in thousands, except per share data) EMCORE Corporation EMCORE Chicago Pro Forma Adjustments Pro Forma Combined Revenue $ 42,236 $ 7,698 $ — $ 49,934 Cost of revenue 26,439 5,827 171 (a) 32,437 Gross profit 15,797 1,871 (171) 17,497 Operating expense: Selling, general, and administrative 7,187 2,684 (1,026) (a)(b) 8,845 Research and development 4,627 1,443 (264) (a)(b) 5,806 Severance 1,298 — — 1,298 (Gain) loss on sale of assets 187 — — 187 Total operating expense 13,299 4,127 (1,290) 16,136 Operating (loss) income 2,498 (2,256) 1,119 1,361 Other (expense) income: 0 Interest expense, net (11) — 318 (c) 307 Foreign exchange gain 42 — — 42 Other income — 33 — 33 Total other (expense) income 31 33 318 382 (Loss) income before income tax expense 2,529 (2,223) 1,437 1,743 Income tax expense (115) (13) (5) (d)(e) (133) Net (loss) income 2,414 (2,236) 1,432 1,610 Foreign exchange translation adjustment 20 — — 20 Comprehensive (loss) income $ 2,434 $ (2,236) 1,432 $ 1,630 Per share data: Net (loss) income per basic share $ 0.07 $ — $ 0.04 Weighted-average number of basic shares outstanding 36,950 — 36,950 Net (loss) income per diluted share $ 0.06 $ — $ 0.04 Weighted-average number of diluted shares outstanding 39,031 — 39,031 (a) Reflects the impact to depreciation expense and amortization expense as a result of the change in fair value of property, plant, and equipment and intangible assets acquired. Adjustment was made to the unaudited pro forma condensed combined statements of operations for the three months ended December 31, 2022. (b) Reflects the deduction of various sales, general, and administrative and research and development expenses allocated from corporate overhead to EMCORE Chicago during the periods presented that will not be incurred on an ongoing basis as a result of existing EMCORE management structures in place, which will provide the same support to EMCORE Chicago upon completion of a transition services agreement entered into between EMCORE and KVH in connection with the EMCORE Chicago acquisition. Amounts were estimated based on historical allocation included in the stand-alone financial statements of EMCORE Chicago. However, actual costs to be incurred associated with corporate support may vary under the EMCORE structure. (c) Reflects the impact of interest expense related to cash from borrowing facility for funding of the transaction. (d) Reflects the current tax expense due to additional income and deferred income tax expense related to deferred tax liability generated from annual tax amortization of indefinite-lived assets that were acquired for the periods presented. Such amounts were determined based on the effective tax rate of EMCORE rather than statutory tax rates as a result of a tax valuation allowance covering substantially all deferred tax assets and the existence of tax loss carryforwards present at both entities.

Cash, Cash Equivalents and Re_2

Cash, Cash Equivalents and Restricted Cash (Tables)	3 Months Ended
	Dec. 31, 2022
Cash and Cash Equivalents [Abstract]
Schedule of Cash, Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the unaudited condensed consolidated balance sheets that sum to the total of the same amounts shown in the unaudited condensed consolidated statements of cash flows: (in thousands) December 31, 2022 September 30, 2022 Cash $ 18,037 $ 20,011 Cash equivalents 5,655 5,614 Restricted cash 495 520 Total cash, cash equivalents, and restricted cash $ 24,187 $ 26,145
Schedule of Cash, Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the unaudited condensed consolidated balance sheets that sum to the total of the same amounts shown in the unaudited condensed consolidated statements of cash flows: (in thousands) December 31, 2022 September 30, 2022 Cash $ 18,037 $ 20,011 Cash equivalents 5,655 5,614 Restricted cash 495 520 Total cash, cash equivalents, and restricted cash $ 24,187 $ 26,145

Accounts Receivable, net (Table

Accounts Receivable, net (Tables)	3 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Schedule of Components of Accounts Receivable, net	The components of accounts receivable, net consisted of the following: (in thousands) December 31, 2022 September 30, 2022 Accounts receivable, gross $ 17,477 $ 18,410 Allowance for credit loss (361) (337) Accounts receivable, net $ 17,116 $ 18,073

Inventory (Tables)

Inventory (Tables)	3 Months Ended
	Dec. 31, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory	The components of inventory consisted of the following: (in thousands) December 31, 2022 September 30, 2022 Raw materials $ 24,831 $ 22,927 Work in-process 10,586 9,587 Finished goods 4,181 4,521 Inventory $ 39,598 $ 37,035

Property, Plant, and Equipmen_2

Property, Plant, and Equipment, net (Tables)	3 Months Ended
	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	The components of property, plant, and equipment, net consisted of the following: (in thousands) December 31, 2022 September 30, 2022 Land $ — $ 995 Building — 8,805 Equipment 47,100 42,330 Furniture and fixtures 1,394 1,394 Computer hardware and software 3,379 3,378 Leasehold improvements 7,750 7,180 Construction in progress 5,528 9,886 Property, plant, and equipment, gross $ 65,151 $ 73,968 Accumulated depreciation (37,491) (36,101) Property, plant, and equipment, net $ 27,660 $ 37,867

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	3 Months Ended
	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Intangible Assets	The following table summarizes changes in intangible assets, net: (in thousands) December 31, 2022 September 30, 2022 Balance at beginning of period $ 14,790 $ 167 Changes from acquisition 770 14,740 Amortization (326) (117) Balance at end of period $ 15,234 $ 14,790
Schedule of Weighted Average Remaining Useful Lives by Definite-lived Intangible Asset	The weighted average remaining useful lives by definite-lived intangible asset category are as follows: December 31, 2022 (in thousands, except weighted average remaining life) Weighted Average Remaining Life (in years) Gross Carrying Amount Accumulated Amortization Net Book Value Technology 3.7 $ 11,001 $ (8,424) $ 2,577 Customer relationships 3.5 3,990 (213) 3,777 Definite-lived intangible assets total $ 14,991 $ (8,637) $ 6,354 September 30, 2022 (in thousands, except weighted average remaining life) Weighted Average Remaining Life (in years) Gross Carrying Amount Accumulated Amortization Net Book Value Technology 5.4 $ 10,991 $ (8,261) $ 2,730 Customer relationships 4.6 3,260 (50) 3,210 Definite-lived intangible assets total $ 14,251 $ (8,311) $ 5,940
Schedule of Future Amortization Expense for Intangible Assets	Estimated future amortization expense for intangible assets recorded by the Company as of December 31, 2022 is as follows: (in thousands) Amount 2023 $ 862 2024 1,131 2025 1,104 2026 702 2027 679 Thereafter 1,876 Total amortization expense $ 6,354
Schedule of Goodwill	The following table summarizes changes in goodwill: (in thousands) December 31, 2022 September 30, 2022 Balance at beginning of period $ 17,894 $ 69 Adjustments to preliminary purchase price allocation (1,375) 17,825 Balance at end of period $ 16,519 $ 17,894

Benefit Plans (Tables)

Benefit Plans (Tables)	3 Months Ended
	Dec. 31, 2022
Retirement Benefits [Abstract]
Schedule of Components of Pension Expense	The components of net periodic pension cost are as follows: (in thousands) Three Months Ended December 31, 2022 Service cost $ 26 Interest cost 93 Expected return on plan assets (84) Net periodic pension cost $ 35

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	3 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
Schedule of Components of Accrued Expenses and Other Current Liabilities	The components of accrued expenses and other current liabilities consisted of the following: (in thousands) December 31, 2022 September 30, 2022 Compensation $ 5,964 $ 4,213 Warranty 1,522 1,504 Commissions 429 228 Consulting 264 241 Legal expenses and other professional fees 242 275 Income and other taxes 108 — Severance and restructuring accruals 854 423 Litigation settlement 294 341 Other 1,520 899 Accrued expenses and other current liabilities $ 11,197 $ 8,124

Credit Agreement (Tables)

Credit Agreement (Tables)	3 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Future Loan Repayments	Our future term loan repayments as of December 31, 2022 is as follows: (in thousands) Amount 2023 $ 638 2024 852 2025 852 2026 3,339 Total loan payments $ 5,681

Equity (Tables)

Equity (Tables)	3 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Schedule of Stock-based Compensation Expense - By Award Type	The following table sets forth stock-based compensation expense by award type: Three Months Ended December 31, (in thousands) 2022 2021 Employee stock options $ — $ — RSUs and RSAs 915 554 PSUs and PRSAs 693 407 Outside director equity awards and fees in common stock 126 127 Total stock-based compensation expense $ 1,734 $ 1,088
Schedule of Stock-based Compensation Expense - By Expense Type	The following table sets forth stock-based compensation expense by expense type: Three Months Ended December 31, (in thousands) 2022 2021 Cost of revenue $ 387 $ 151 Selling, general, and administrative 1,075 755 Research and development 272 182 Total stock-based compensation expense $ 1,734 $ 1,088
Schedule of (Loss) Income Per Share	The following table sets forth the computation of basic and diluted net (loss) income per share: Three Months Ended December 31, (in thousands, except per share data) 2022 2021 Numerator Net (loss) income $ (11,693) $ 2,414 Denominator Weighted average number of shares outstanding - basic 37,557 36,950 Effect of dilutive securities Stock options — 7 PSUs, RSUs, and restricted stock — 2,074 Weighted average number of shares outstanding - diluted 37,557 39,031 Earnings per share - basic $ (0.31) $ 0.07 Earnings per share - diluted $ (0.31) $ 0.06 Weighted average antidilutive options, unvested RSUs and RSAs, and unvested PSUs excluded from the computation 2,807 53
Schedule of Common Stock Reserved for Future Issuances	Common stock reserved for future issuances as of December 31, 2022 was as follows: Amount Exercise of outstanding stock options 9,981 Unvested RSUs and RSAs 2,644,870 Unvested PSUs and PRSAs (at 200% maximum payout) 2,722,106 Issuance of stock-based awards under the Equity Plans 1,128,932 Purchases under the officer and director share purchase plan 88,741 Total reserved 6,594,630

Segment and Revenue Informati_2

Segment and Revenue Information (Tables)	3 Months Ended
	Dec. 31, 2022
Segment Reporting [Abstract]
Schedule of Reportable Segment	Information on reportable segments utilized by the chief operating decision maker is as follows: Three Months Ended December 31, (in thousands) 2022 2021 Revenue Aerospace and Defense $ 21,675 $ 9,900 Broadband 3,278 32,336 Total revenue $ 24,953 $ 42,236 Segment profit Aerospace and Defense gross profit $ 4,108 $ 1,684 Aerospace and Defense research and development expense 4,349 4,162 Aerospace and Defense segment profit $ (241) $ (2,478) Broadband gross profit $ (1,049) $ 14,113 Broadband research and development expense 1,002 465 Broadband segment profit $ (2,051) $ 13,648 Total segment profit $ (2,292) $ 11,170
Schedule of Revenue by Major Product Category	Revenue is classified by major product category as presented below: Three Months Ended December 31, (in thousands) 2022 2021 Aerospace and Defense Inertial Navigation $ 19,979 $ 8,145 Defense Optoelectronics 1,696 1,755 Broadband CATV Optical Transmitters and Components 1,553 28,459 Data Center Chips 407 1,068 Optical Sensing 1,318 2,809 Total revenue $ 24,953 $ 42,236
Schedule of Revenue by Geographic Region	The following table sets forth revenue by geographic area based on our customers’ billing address: Three Months Ended December 31, (in thousands) 2022 2021 Trade revenue (recognized at a point in time) $ 19,107 $ 41,692 Contract revenue (recognized over time) 5,846 544 Total revenue $ 24,953 $ 42,236 Geographical Concentration Three Months Ended December 31, (in thousands) 2022 2021 United States and Canada $ 19,002 $ 38,056 Asia 1,420 3,086 Europe 3,203 820 Other 1,328 274 Total revenue $ 24,953 $ 42,236

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Thousands			3 Months Ended	12 Months Ended
	Aug. 09, 2022	Apr. 29, 2022	Dec. 31, 2022	Sep. 30, 2022
Business Acquisition [Line Items]
Increase in goodwill			$ (1,375)	$ 17,825
Transaction costs			2,100
L3Harris Technologies, Inc.
Business Acquisition [Line Items]
Total purchase price		$ 5,000
Payments to acquire business		4,900
Revenue		5,500
Net income (loss)		1,100
Purchase price allocation			2,300
Reduction to contract assets			2,300
Reduction in asset retirement obligation			600
Increase in goodwill			600
Intangible assets acquired		$ 2,740
KVH Industries, Inc
Business Acquisition [Line Items]
Payments to acquire business	$ 55,000
Revenue	7,800
Net income (loss)	$ 1,400
Intangible assets acquired			12,770
KVH Industries, Inc | In Process Research and Development
Business Acquisition [Line Items]
Intangible assets acquired			6,700
KVH Industries, Inc | Trademarks
Business Acquisition [Line Items]
Intangible assets acquired			2,200
KVH Industries, Inc | Customer relationships
Business Acquisition [Line Items]
Intangible assets acquired			4,000
KVH Industries, Inc | Technology
Business Acquisition [Line Items]
Intangible assets acquired			2,600
S and N and Emcore Chicago Acquisitions
Business Acquisition [Line Items]
Amount of goodwill acquired			$ 16,400
EMCORE Chicago
Business Acquisition [Line Items]
Goodwill acquired (as percent)			81.10%

Acquisitions - Assets Acquired

Acquisitions - Assets Acquired and Liabilities Assumed of S&N (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022	Apr. 29, 2022	Sep. 30, 2021
Tangible assets acquired:
Goodwill	$ 16,519	$ 17,894		$ 69
L3Harris Technologies, Inc.
Tangible assets acquired:
Accounts receivable			$ 803
Inventory			370
Contract assets			3,920
Operating lease right-of-use assets			1,529
Property, plant, and equipment			1,996
Net pension benefit assets			1,727
Intangible assets acquired			2,740
Goodwill			3,108
Liabilities assumed:
Accounts payable			(1,226)
Accrued expenses			622
Contract liabilities			(6,024)
Operating lease liabilities			(1,565)
Asset retirement obligation			(1,895)
Total purchase consideration			$ 4,861

Acquisitions - Assets Acquire_2

Acquisitions - Assets Acquired and Liabilities Assumed of IN (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022	Sep. 30, 2021
Tangible assets acquired:
Goodwill	$ 16,519	$ 17,894	$ 69
KVH Industries, Inc
Tangible assets acquired:
Accounts receivable	4,977
Inventory	10,800
Prepaid expenses and other current assets	1,483
Property, plant, and equipment	14,442
Intangible assets acquired	12,770
Goodwill	13,342
Liabilities assumed:
Accounts payable	(1,699)
Accrued expenses	(485)
Contract liabilities	(637)
Other long-term liabilities	(8)
Total purchase consideration	$ 54,985

Acquisitions - Pro Forma Inform

Acquisitions - Pro Forma Information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Revenue	$ 24,953	$ 42,236
Cost of revenue	21,894	26,439
Gross profit	3,059	15,797
Operating expense:
Selling, general, and administrative	9,944	7,187
Research and development	5,351	4,627
Severance	475	1,298
(Gain) loss on sale of assets	(1,171)	187
Total operating expense	14,599	13,299
Operating (loss) income	(11,540)	2,498
Other (expense) income:
Interest expense, net	(241)	(11)
Foreign exchange gain	75	42
Other income	107	0
Total other (expense) income	(59)	31
(Loss) income before income tax expense	(11,599)	2,529
Income tax expense	(94)	(115)
Net (loss) income	(11,693)	2,414
Foreign exchange translation adjustment	47	20
Comprehensive (loss) income	$ (11,646)	$ 2,434
Net loss per basic share (in dollars per share)	$ (0.31)	$ 0.07
Weighted-average number of basic shares outstanding (in shares)	37,557	36,950
Net (loss) income per diluted share (in dollars per share)	$ (0.31)	$ 0.06
Weighted-average number of diluted shares outstanding (in shares)	37,557	39,031
Pro Forma
Business Acquisition [Line Items]
Revenue		$ 49,934
Cost of revenue		32,437
Gross profit		17,497
Operating expense:
Selling, general, and administrative		8,845
Research and development		5,806
Severance		1,298
(Gain) loss on sale of assets		187
Total operating expense		16,136
Operating (loss) income		1,361
Other (expense) income:
Interest expense, net		307
Foreign exchange gain		42
Other income		33
Total other (expense) income		382
(Loss) income before income tax expense		1,743
Income tax expense		(133)
Net (loss) income		1,610
Foreign exchange translation adjustment		20
Comprehensive (loss) income		$ 1,630
Net loss per basic share (in dollars per share)		$ 0.04
Weighted-average number of basic shares outstanding (in shares)		36,950
Net (loss) income per diluted share (in dollars per share)		$ 0.04
Weighted-average number of diluted shares outstanding (in shares)		39,031
Pro Forma | Pro Forma Adjustments
Business Acquisition [Line Items]
Revenue		$ 0
Cost of revenue		171
Gross profit		(171)
Operating expense:
Selling, general, and administrative		(1,026)
Research and development		(264)
Severance		0
(Gain) loss on sale of assets		0
Total operating expense		(1,290)
Operating (loss) income		1,119
Other (expense) income:
Interest expense, net		318
Foreign exchange gain		0
Other income		0
Total other (expense) income		318
(Loss) income before income tax expense		1,437
Income tax expense		(5)
Net (loss) income		1,432
Foreign exchange translation adjustment		0
Comprehensive (loss) income		$ 1,432
Net loss per basic share (in dollars per share)		$ 0
Weighted-average number of basic shares outstanding (in shares)		0
Net (loss) income per diluted share (in dollars per share)		$ 0
Weighted-average number of diluted shares outstanding (in shares)		0
Pro Forma | EMCORE Corporation (excluding EMCORE Chicago)
Business Acquisition [Line Items]
Revenue		$ 42,236
Cost of revenue		26,439
Gross profit		15,797
Operating expense:
Selling, general, and administrative		7,187
Research and development		4,627
Severance		1,298
(Gain) loss on sale of assets		187
Total operating expense		13,299
Operating (loss) income		2,498
Other (expense) income:
Interest expense, net		(11)
Foreign exchange gain		42
Total other (expense) income		31
(Loss) income before income tax expense		2,529
Income tax expense		(115)
Net (loss) income		2,414
Foreign exchange translation adjustment		20
Comprehensive (loss) income		$ 2,434
Net loss per basic share (in dollars per share)		$ 0.07
Weighted-average number of basic shares outstanding (in shares)		36,950
Net (loss) income per diluted share (in dollars per share)		$ 0.06
Weighted-average number of diluted shares outstanding (in shares)		39,031
Pro Forma | EMCORE Chicago
Business Acquisition [Line Items]
Revenue		$ 7,698
Cost of revenue		5,827
Gross profit		1,871
Operating expense:
Selling, general, and administrative		2,684
Research and development		1,443
Severance		0
(Gain) loss on sale of assets		0
Total operating expense		4,127
Operating (loss) income		(2,256)
Other (expense) income:
Interest expense, net		0
Foreign exchange gain		0
Other income		33
Total other (expense) income		33
(Loss) income before income tax expense		(2,223)
Income tax expense		(13)
Net (loss) income		(2,236)
Foreign exchange translation adjustment		0
Comprehensive (loss) income		$ (2,236)

Cash, Cash Equivalents and Re_3

Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Cash and Cash Equivalents [Abstract]
Cash	$ 18,037	$ 20,011
Cash equivalents	5,655	5,614
Restricted cash	495	520
Total cash, cash equivalents, and restricted cash	$ 24,187	$ 26,145	$ 75,958	$ 71,682

Accounts Receivable, net - Sche

Accounts Receivable, net - Schedule of Components of Accounts Receivable, net (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022
Receivables [Abstract]
Accounts receivable, gross	$ 17,477	$ 18,410
Allowance for credit loss	(361)	(337)
Accounts receivable, net	$ 17,116	$ 18,073

Inventory - Schedule of Compone

Inventory - Schedule of Components of Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 24,831	$ 22,927
Work in-process	10,586	9,587
Finished goods	4,181	4,521
Inventory	$ 39,598	$ 37,035

Property, Plant, and Equipmen_3

Property, Plant, and Equipment, net - Schedule of Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	$ 65,151	$ 73,968
Accumulated depreciation	(37,491)	(36,101)
Property, plant, and equipment, net	27,660	37,867
Land
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	0	995
Building
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	0	8,805
Equipment
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	47,100	42,330
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	1,394	1,394
Computer hardware and software
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	3,379	3,378
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	7,750	7,180
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant, and equipment, gross	$ 5,528	$ 9,886

Property, Plant, and Equipmen_4

Property, Plant, and Equipment, net - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2022
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 1,500
(Gain) loss on sale of assets	$ (1,171)	$ 187
Asset Impairment Charges			$ 3,000
United States | Long-lived Assets | Geographic Concentration Risk
Property, Plant and Equipment [Line Items]
Concentration risk, percentage	94.40%		95.40%
Disposal Group, Held-for-sale, Not Discontinued Operations
Property, Plant and Equipment [Line Items]
Property, plant, and equipment held for sale	$ 10,300

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill - Narrative (Details) - USD ($)	3 Months Ended
	Dec. 31, 2022	Sep. 30, 2022	Sep. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 16,519,000	$ 17,894,000	$ 69,000
S and N and Emcore Chicago Acquisitions
Finite-Lived Intangible Assets [Line Items]
Amount of goodwill acquired	16,400,000
Expected tax deductible amount of goodwill	0
In Process Research and Development
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	6,700,000	6,700,000
Trademarks
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	$ 2,200,000	$ 2,200,000
Patents
Finite-Lived Intangible Assets [Line Items]
Intangible assets useful life (in years)	7 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets useful life (in years)	8 years
Technology | Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible assets useful life (in years)	2 years
Technology | Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets useful life (in years)	8 years

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Schedule of Changes in Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022
Finite-Lived Intangible Assets [Roll Forward]
Beginning balance, Intangible asset	$ 14,790	$ 167
Changes from acquisition	770	14,740
Amortization	(326)	(117)
Ending balance, Intangible asset	$ 15,234	$ 14,790

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill - Schedule of Weighted Average Remaining Useful Lives by Definite-lived Intangible Asset (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 14,991	$ 14,251
Accumulated Amortization	(8,637)	(8,311)
Net Book Value	$ 6,354	$ 5,940
Technology
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	3 years 8 months 12 days	5 years 4 months 24 days
Gross Carrying Amount	$ 11,001	$ 10,991
Accumulated Amortization	(8,424)	(8,261)
Net Book Value	$ 2,577	$ 2,730
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	3 years 6 months	4 years 7 months 6 days
Gross Carrying Amount	$ 3,990	$ 3,260
Accumulated Amortization	(213)	(50)
Net Book Value	$ 3,777	$ 3,210

Intangible Assets and Goodwil_5

Intangible Assets and Goodwill - Schedule of Future Amortization Expense for Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 862
2024	1,131
2025	1,104
2026	702
2027	679
Thereafter	1,876
Net Book Value	$ 6,354	$ 5,940

Intangible Assets and Goodwil_6

Intangible Assets and Goodwill - Schedule of Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2022	Sep. 30, 2022
Goodwill [Roll Forward]
Beginning balance, Goodwill	$ 17,894	$ 69
Adjustments to preliminary purchase price allocation	(1,375)	17,825
Ending balance, Goodwill	$ 16,519	$ 17,894

Benefit Plans - Narrative (Deta

Benefit Plans - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Retirement Benefits [Abstract]
Matching contribution	$ 0.2	$ 0.2

Benefit Plans - Schedule of Com

Benefit Plans - Schedule of Components of Pension Expense (Details) $ in Thousands	3 Months Ended
	Dec. 31, 2022 USD ($)
Retirement Benefits [Abstract]
Service cost	$ 26
Interest cost	93
Expected return on plan assets	(84)
Net periodic pension cost	$ 35

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities - Schedule of Components of Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Sep. 30, 2022
Payables and Accruals [Abstract]
Compensation	$ 5,964	$ 4,213
Warranty	1,522	1,504
Commissions	429	228
Consulting	264	241
Legal expenses and other professional fees	242	275
Income and other taxes	108	0
Severance and restructuring accruals	854	423
Litigation settlement	294	341
Other	1,520	899
Accrued expenses and other current liabilities	$ 11,197	$ 8,124

Accrued Expenses and Other Cu_4

Accrued Expenses and Other Current Liabilities - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2022
Payables and Accruals [Abstract]
Restructuring Charges	$ 500	$ 1,400
Severance and restructuring accruals	$ 854		$ 423

Credit Agreement - Narrative (D

Credit Agreement - Narrative (Details)	Aug. 09, 2022 USD ($) creditFacility	Dec. 31, 2022 USD ($)	Sep. 30, 2022 USD ($)
Line of Credit Facility [Line Items]
Standby letters of credit, total amount outstanding		$ 4,829,000	$ 5,042,000
New ABL Credit Agreement
Line of Credit Facility [Line Items]
Excess availability term	$ 5,000,000
Excess availability term, percentage	0.15
Fixed charge coverage ratio (not less than)	1.10
Secured Debt | New ABL Credit Agreement
Line of Credit Facility [Line Items]
Principal amount	$ 6,000,000
Debt instrument, closing fee percentage	0.0150
Secured Debt | New ABL Credit Agreement | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	5.50%
Revolving Credit Facility | New ABL Credit Agreement
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 40,000,000
Debt instrument, closing fee percentage	0.010
Unused capacity fee percentage	0.50%
Long-term line of credit		5,700,000	9,600,000
Standby letters of credit, total amount outstanding		6,600,000	$ 5,900,000
Line of credit facility, remaining borrowing capacity		$ 15,000,000
Revolving Credit Facility | New ABL Credit Agreement | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Line of Credit Facility [Line Items]
Basis spread on variable rate	3.75%
Revolving Credit Facility | Secured Debt
Line of Credit Facility [Line Items]
Number of credit facilities | creditFacility	2

Credit Agreements - Schedule of

Credit Agreements - Schedule of Future Loan Repayments (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Debt Disclosure [Abstract]
2023	$ 638
2024	852
2025	852
2026	3,339
Total loan payments	$ 5,681

Income and Other Taxes - Narrat

Income and Other Taxes - Narrative (Details) - USD ($)	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 94,000	$ 115,000
Effective tax rate on continuing operations	0.80%	4.50%
Interest and penalties accrued as tax liabilities	$ 0		$ 0
Uncertain tax reserve, period increase (decrease)	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) - Resilience Litigation - USD ($) $ in Thousands	1 Months Ended
	Apr. 30, 2021	Feb. 10, 2020
Resilience Capital
Loss Contingencies [Line Items]
Damages sought value (not less than)	$ 1,565
Concord Property
Loss Contingencies [Line Items]
Lease length in years		15 years

Equity - Narrative (Details)

Equity - Narrative (Details)	1 Months Ended
	Dec. 31, 2022 plan shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity incentive compensation plans maintained by the company | plan	4
2019 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional number of shares authorized for the plan (in shares) | shares	1,549,000

Equity - Schedule of Stock-base

Equity - Schedule of Stock-based Compensation Expense - by Award Type (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,734	$ 1,088
Employee stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	0	0
RSUs and RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	915	554
PSUs and PRSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	693	407
Outside director equity awards and fees in common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 126	$ 127

Equity - Schedule of Stock-ba_2

Equity - Schedule of Stock-based Compensation Expense - by Expense Category (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 1,734	$ 1,088
Cost of revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	387	151
Selling, general, and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	1,075	755
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 272	$ 182

Equity - Schedule of (Loss) Inc

Equity - Schedule of (Loss) Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Numerator
Net (loss) income	$ (11,693)	$ 2,414
Denominator
Weighted average number of shares outstanding - basic (in shares)	37,557	36,950
Effect of dilutive securities
Weighted average number of shares outstanding - diluted (in shares)	37,557	39,031
Earnings per share - basic (in dollars per share)	$ (0.31)	$ 0.07
Earnings per share - diluted (in dollars per share)	$ (0.31)	$ 0.06
Weighted average antidilutive options, unvested restricted RSUs and RSAs, unvested PSUs and ESPP shares excluded from the computation (in shares)	2,807	53
Stock options
Effect of dilutive securities
Dilutive options outstanding, unvested stock units and unvested stock awards (in shares)	0	7
PSUs, RSUs, and restricted stock
Effect of dilutive securities
Dilutive options outstanding, unvested stock units and unvested stock awards (in shares)	0	2,074

Equity - Schedule of Common Sto

Equity - Schedule of Common Stock Reserved for Future Issuances (Details)	Dec. 31, 2022 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)	6,594,630
Exercise of outstanding stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)	9,981
RSUs and RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)	2,644,870
PSUs and PRSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)	2,722,106
Unvested award potential, percentage	200%
Issuance of stock-based awards under the Equity Plans
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)	1,128,932
Purchases under the officer and director share purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance (in shares)	88,741

Segment and Revenue Informati_3

Segment and Revenue Information - Schedule of Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Revenue	$ 24,953	$ 42,236
Gross profit	3,059	15,797
R&D expense	5,351	4,627
Operating (loss) income	(11,540)	2,498
Operating segments
Segment Reporting Information [Line Items]
Revenue	24,953	42,236
Operating (loss) income	(2,292)	11,170
Operating segments | Aerospace And Defense
Segment Reporting Information [Line Items]
Revenue	21,675	9,900
Gross profit	4,108	1,684
R&D expense	4,349	4,162
Operating (loss) income	(241)	(2,478)
Operating segments | Broadband
Segment Reporting Information [Line Items]
Revenue	3,278	32,336
Gross profit	(1,049)	14,113
R&D expense	1,002	465
Operating (loss) income	$ (2,051)	$ 13,648

Segment and Revenue Informati_4

Segment and Revenue Information - Schedule of Revenue by Major Product Category (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Total revenue	$ 24,953	$ 42,236
Inertial Navigation | Aerospace And Defense
Disaggregation of Revenue [Line Items]
Total revenue	19,979	8,145
Defense Optoelectronics | Aerospace And Defense
Disaggregation of Revenue [Line Items]
Total revenue	1,696	1,755
CATV Optical Transmitters and Components | Broadband
Disaggregation of Revenue [Line Items]
Total revenue	1,553	28,459
Data Center Chips | Broadband
Disaggregation of Revenue [Line Items]
Total revenue	407	1,068
Optical Sensing | Broadband
Disaggregation of Revenue [Line Items]
Total revenue	$ 1,318	$ 2,809

Segment and Revenue Informati_5

Segment and Revenue Information - Schedule of Revenue by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Segment revenue	$ 24,953	$ 42,236
United States and Canada
Segment Reporting Information [Line Items]
Segment revenue	19,002	38,056
Asia
Segment Reporting Information [Line Items]
Segment revenue	1,420	3,086
Europe
Segment Reporting Information [Line Items]
Segment revenue	3,203	820
Other
Segment Reporting Information [Line Items]
Segment revenue	1,328	274
Trade revenue (recognized at a point in time)
Segment Reporting Information [Line Items]
Segment revenue	19,107	41,692
Contract revenue (recognized over time)
Segment Reporting Information [Line Items]
Segment revenue	$ 5,846	$ 544

Segment and Revenue Informati_6

Segment and Revenue Information - Narrative (Details)	3 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Sales Revenue, Segment | Customer Concentration Risk | Two Significant Customers
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Concentration risk, percentage	38%	65%