ADDvantage Technologies (AEYGQ) 10-Q 13 Aug 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Jun. 30, 2021	Aug. 12, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	1-10799
Entity Registrant Name	ADDvantage Technologies Group, Inc.
Entity Incorporation, State or Country Code	OK
Entity Tax Identification Number	73-1351610
Entity Address, Address Line One	1430 Bradley Lane, Suite 196
Entity Address, City or Town	Carrollton
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75007
City Area Code	(918)
Local Phone Number	251-9121
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		12,511,372
Entity Central Index Key	0000874292
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2021	Sep. 30, 2020
Current assets:
Cash and cash equivalents	$ 3,598	$ 8,265
Restricted cash	136	108
Accounts receivable, net of allowances of $250, respectively	8,347	3,968
Unbilled revenue	863	590
Promissory note – current	0	1,400
Income tax receivable	0	1,283
Inventories, net of allowances of $3,168 and $3,054, respectively	5,611	5,576
Prepaid expenses and other assets	1,163	884
Total current assets	19,718	22,074
Machinery and equipment	4,417	3,500
Leasehold improvements	795	720
Property and equipment, at cost	5,212	4,220
Less: Accumulated depreciation	(2,242)	(1,586)
Net property and equipment	2,970	2,634
Right-of-use lease assets	2,991	3,758
Promissory note – non current	1,865	2,375
Intangibles, net of accumulated amortization	1,186	1,425
Goodwill	58	58
Deferred income taxes	28	0
Other assets	182	179
Total assets	28,998	32,503
Current liabilities:
Accounts payable	6,484	3,472
Accrued expenses	1,809	1,319
Deferred revenue	144	113
Bank line of credit	2,800	2,800
Note payable, current	1,927	1,709
Right-of-use lease obligations – current	1,220	1,275
Financing lease obligations – current	440	285
Other current liabilities	15	41
Total current liabilities	14,839	11,014
Financing lease obligations - long-term	988	791
Right-of-use lease obligations - long-term	2,436	3,310
Note payable, less current portion	1,108	2,440
Other liabilities	7	15
Total liabilities	19,378	17,570
Shareholders’ equity:
Common stock, $0.01 par value; 30,000,000 shares authorized; 12,511,372 shares issued and outstanding, and 11,822,009 shares issued and outstanding, respectively	125	118
Paid in capital	(745)	(2,567)
Retained earnings	10,240	17,382
Total shareholders’ equity	9,620	14,933
Total liabilities and shareholders’ equity	$ 28,998	$ 32,503

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Sep. 30, 2020
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ (250)	$ (250)
Allowance for excess and obsolete inventory	$ 3,168	$ 3,054
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	30,000,000	30,000,000
Common stock, shares issued (in shares)	12,511,372	11,822,009
Common stock, shares outstanding (in shares)	12,511,372	11,822,009

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Sales	$ 17,017	$ 12,022	$ 42,433	$ 37,943
Cost of sales	12,748	7,851	31,354	30,619
Gross profit	4,269	4,171	11,079	7,324
Operating expenses	2,508	1,998	6,733	6,276
Selling, general and administrative expenses	3,561	2,421	10,532	8,097
Impairment of right of use asset	0	660	0	660
Impairment of intangibles including goodwill	0	0	0	8,714
Depreciation and amortization expense	314	242	899	1,197
Gain on disposal of assets	(13)	(8)	(23)	(36)
Loss from operations	(2,101)	(1,142)	(7,062)	(17,584)
Other income (expense):
Interest income	34	83	115	259
Income from equity method investment	0	0	0	41
Other expense, net	(34)	(37)	(61)	(123)
Interest expense	(46)	(101)	(156)	(184)
Total other income (expense), net	(46)	(55)	(102)	(7)
Loss before income taxes	(2,147)	(1,197)	(7,164)	(17,591)
Benefit for income taxes	(23)	(1,220)	(23)	$ (1,236)
Net income (loss)	$ (2,124)	$ 23	$ (7,141)
Income (loss) per share:
Basic (in dollars per share)	$ (0.17)	$ 0	$ (0.58)	$ (1.49)
Diluted (in dollars per share)	$ (0.17)	$ 0	$ (0.58)	$ (1.49)
Shares used in per share calculation:
Basic (in shares)	12,495,438	11,079,580	12,352,960	10,955,235
Diluted (in shares)	12,495,438	11,216,688	12,352,960	10,955,235
Product, Sales	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember	us-gaap:ProductMember

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Paid-in Capital	Retained Earnings	Treasury Stock
Beginning Balance (in shares) at Sep. 30, 2019		10,861,950
Beginning Balance at Sep. 30, 2019	$ 29,447	$ 109	$ (4,377)	$ 34,715	$ (1,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(1,718)			(1,718)
Stock based compensation expense	14		14
Ending Balance (in shares) at Dec. 31, 2019		10,861,950
Ending Balance at Dec. 31, 2019	27,743	$ 109	(4,363)	32,997	(1,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(14,661)			(14,661)
Restricted stock issuance	377		377
Stock option exercise (in shares)		110,000
Stock option exercise	173	$ 1	172
Stock based compensation expense	92		92
Ending Balance (in shares) at Mar. 31, 2020		10,971,950
Ending Balance at Mar. 31, 2020	13,724	$ 109	(3,722)	18,336	(1,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	23			23
Utilization of treasury shares (in shares)		(500,658)
Utilization of treasury shares	0	$ (5)	(995)		(1,000)
Issuance of common shares (in shares)		573,199
Issuance of common shares	2,109	$ 6	2,103
Restricted stock issuance (in shares)		237,014
Restricted stock issuance	15	$ 2	13
Stock option exercise (in shares)		13,334
Stock option exercise	24		24
Stock based compensation expense	(15)		(15)
Ending Balance (in shares) at Jun. 30, 2020		11,294,839
Ending Balance at Jun. 30, 2020	15,881	$ 113	(2,592)	18,360	0
Beginning Balance (in shares) at Sep. 30, 2020		11,822,009
Beginning Balance at Sep. 30, 2020	14,933	$ 118	(2,567)	17,382	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(1,953)			(1,953)
Issuance of common shares (in shares)		238,194
Issuance of common shares	879	$ 3	876
Restricted stock issuance (in shares)		306,390
Restricted stock issuance	0	$ 3	(3)
Stock based compensation expense	315		315
Ending Balance (in shares) at Dec. 31, 2020		12,366,593
Ending Balance at Dec. 31, 2020	14,174	$ 124	(1,379)	15,429	0
Beginning Balance (in shares) at Sep. 30, 2020		11,822,009
Beginning Balance at Sep. 30, 2020	14,933	$ 118	(2,567)	17,382	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ (7,141)
Stock option exercise (in shares)	49,000
Ending Balance (in shares) at Jun. 30, 2021		12,511,372
Ending Balance at Jun. 30, 2021	$ 9,620	$ 125	(745)	10,240	0
Beginning Balance (in shares) at Dec. 31, 2020		12,366,593
Beginning Balance at Dec. 31, 2020	14,174	$ 124	(1,379)	15,429	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(3,064)			(3,064)
Issuance of common shares (in shares)		7,779
Issuance of common shares	21		21
Restricted stock issuance (in shares)		(10,000)
Restricted stock issuance	(1)	$ (1)
Stock option exercise (in shares)		49,000
Stock option exercise	89		89
Stock based compensation expense	246		246
Ending Balance (in shares) at Mar. 31, 2021		12,413,372
Ending Balance at Mar. 31, 2021	11,466	$ 124	(1,023)	12,364	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(2,124)			(2,124)
Restricted stock issuance			(1)
Restricted stock, net (in shares)		98,000
Restricted stock issuance	0	$ 1
Stock based compensation expense	279		279
Ending Balance (in shares) at Jun. 30, 2021		12,511,372
Ending Balance at Jun. 30, 2021	$ 9,620	$ 125	$ (745)	$ 10,240	$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Operating Activities:
Net income (loss)	$ (7,141)
Adjustments to reconcile net loss from operations to net cash used in operating activities:
Depreciation	661	$ 590
Amortization	239	607
Change in right-of-use assets and liabilities, net	(161)	0
Impairment of right of use asset	0	660
Impairment of intangibles including goodwill	0	8,714
Provision for excess and obsolete inventories	115	2,125
Stock based compensation expense	840	167
Gain from disposal of property and equipment	(23)
Gain from equity method investment	0	(41)
Changes in assets and liabilities:
Accounts receivable	(4,379)	1,662
Unbilled revenue	(274)	2,014
Income tax receivable\payable	1,255	(14)
Inventories	(150)	(464)
Prepaid expenses and other assets	(269)	97
Accounts payable	3,012	56
Accrued expenses and other liabilities	456	(135)
Deferred revenue	31	144
Net cash used in operating activities	(5,788)	(1,429)
Investing Activities:
Proceeds from promissory note receivable	1,910	2,025
Loan repayment from equity method investee	0	40
Purchases of property and equipment	(185)	(471)
Disposals of property and equipment	43	78
Net cash provided by investing activities	1,768	1,672
Financing Activities:
Change in bank line of credit	0	2,800
Proceeds from note payable	0	6,374
Guaranteed payments for acquisition of business	0	(667)
Payments on financing lease obligations	(359)	(277)
Payments on notes payable	(1,249)	(1,622)
Proceeds from sale of common stock	900	1,829
Proceeds from stock options exercised	89	197
Net cash provided by (used in) financing activities	(619)	8,634
Net (decrease) increase in cash, cash equivalents and restricted cash	(4,639)	8,877
Cash, cash equivalents and restricted cash at beginning of period	8,373	1,594
Cash, cash equivalents and restricted cash at end of period	$ 3,734	$ 10,471

Basis of Presentation and Accou

Basis of Presentation and Accounting Policies	9 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Accounting Policies	Basis of Presentation and Accounting Policies Basis of presentation The consolidated financial statements include the accounts of ADDvantage Technologies Group, Inc. and its subsidiaries, all of which are wholly owned (collectively, the “Company”). Intercompany balances and transactions have been eliminated in consolidation. The Company’s reportable segments are Wireless Infrastructure Services (“Wireless”) and Telecommunications (“Telco”). The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial statements and do not include all the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. However, the information furnished reflects all adjustments, which are, in the opinion of management, necessary in order to make the unaudited consolidated financial statements not misleading. The Company’s business is subject to seasonal variations due to weather in the geographic areas where services are performed, as well as calendar events and national holidays. Therefore, the results of operations for the nine months ended June 30, 2021 and 2020, are not necessarily indicative of the results to be expected for the full fiscal year. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2020. Reclassification Certain prior period amounts have been reclassified to conform to current year presentation. These reclassifications had no effect on previously reported results of operations or retained earnings. Recently Issued Accounting Standards In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-13: “Financial Instruments – Credit Losses (Topic 326) – Measurement of Credit Losses on Financial Instruments.” This ASU requires entities to measure all expected credit losses for most financial assets held at the reporting date based on an expected loss model which includes historical experience, current conditions, and reasonable and supportable forecasts. Upon adoption, entities will use forward-looking information to better form their credit loss estimates. This ASU also requires enhanced disclosures to help financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity’s portfolio. On November 15, 2019, the FASB delayed the effective date of the standard for companies that qualify under smaller reporting company reporting rules. As amended, the effective date of ASC Topic 326 was delayed until fiscal years beginning after December 15, 2022 for SEC filers that are eligible to be smaller reporting companies under the Securities and Exchange Commission definition. We are currently in the process of evaluating this new standard update, however we do not anticipate the adoption will have a material impact on our results.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The Company’s principal sales are from Wireless services, sales of Telco equipment and Telco recycled equipment, primarily in the United States. Sales to international customers totaled approximately $1.6 million and $0.7 million for the three months ended June 30, 2021 and 2020, respectively and $2.9 million and $1.5 million for the nine month period ended June 30, 2021 and 2020, respectively. The Company’s customers include wireless carriers, wireless equipment providers, multiple system operators, resellers and direct sales to end-user customers. Sales to three customers which individually accounted for 10% or greater of the Company's revenue totaled 39% and sales to two customers comprised approximately 24% of consolidated revenues for the nine months ended June 30, 2021 and 2020, respectively. Our sales by type were as follows, in thousands: Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Wireless services sales $ 4,136 $ 5,123 $ 13,716 $ 16,593 Equipment sales: Telco 12,826 6,148 28,289 19,912 Intersegment — (23) — (23) Telco repair sales 1 33 14 49 Telco recycle sales 55 741 414 1,412 Total sales $ 17,017 $ 12,022 $ 42,433 $ 37,943 Contract assets and contract liabilities are included in unbilled revenue and deferred revenue, respectively, in the consolidated balance sheets. At June 30, 2021 and September 30, 2020, contract assets were $0.9 million and $0.6 million, respectively, and contract liabilities were $0.1 million and $0.1 million, respectively. The Company recognized $0.1 million of contract revenue during the nine months ended June 30, 2021 related to contract liabilities recorded in deferred revenue at September 30, 2020.

Accounts Receivable Agreements

Accounts Receivable Agreements	9 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Accounts Receivable Agreements	Accounts Receivable Agreements The Company’s Wireless segment has entered into various agreements, including one agreement with recourse, to sell certain receivables to unrelated third-party financial institutions. For the agreement with recourse, the Company is responsible for collecting payments on the sold receivables from its customers. Under this agreement, the third-party financial institution advances the Company 90% of the sold receivables and establishes a reserve of 10% of the sold receivables until the Company collects the sold receivables. As the Company collects the sold receivables, the third-party financial institution will remit the remaining 10% to the Company. At June 30, 2021, the third-party financial institution has a reserve of $0.1 million, which is reflected as restricted cash, against the sold receivables of $0.9 million. For the receivables sold under the agreement with recourse, the agreement addresses events and conditions which may obligate the Company to immediately repay the institution the outstanding purchase price of the receivables sold. The total amount of receivables uncollected by the institution was $0.9 million at June 30, 2021 for which there is a limit of $4.0 million. Although the sale of receivables is with recourse, the Company did not record a recourse obligation at June 30, 2021 as the Company concluded that the sold receivables are collectible. The other agreements without recourse are under programs offered by certain customers in the Wireless segment. For the nine months ended June 30, 2021 and 2020, the Company received proceeds from the sold receivables under all of the various agreements of $12.9 million and $15.9 million, respectively, and included the proceeds in net cash used in operating activities in the Consolidated Statements of Cash Flows. The fees associated with selling these receivables ranged from 0.7% to 2.4% of the gross receivables sold for the nine months ended June 30, 2021 and 2020. The Company recorded costs of $0.1 million and $0.2 million for the three and nine months ended June 30, 2021, respectively, and $0.1 million and $0.3 million for the three and nine months ended June 30, 2020, respectively, in other expense in the consolidated statements of operations.

Promissory Note Receivable

Promissory Note Receivable	9 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Promissory Note Receivable	Promissory Note Receivable During 2019, the Company completed a sale of its former Cable TV reporting segment to Leveling 8, an entity owned by a member of our board and significant shareholder, David Chymiak. Part of the consideration for the sale was a promissory note bearing interest of 6% received from Mr. Chymiak. Mr. Chymiak personally guaranteed the promissory note due to the Company and pledged certain assets to secure the payment of the promissory note, including substantially all of Mr. Chymiak’s Company common stock. During the nine months ended June 30, 2021, the Company received principal payments totaling $1.9 million, of which approximately $1.4 million was a prepayment. At June 30, 2021, there was $1.9 million outstanding on the promissory note. The remaining promissory note is due in a final payment on June 29, 2024. On March 10, 2020, the Company entered into a loan agreement with its primary financial lender for $3.5 million to monetize a portion of this promissory note receivable. See Note 7 - Debt for disclosures related to the Company's promissory note payable.

Inventories

Inventories	9 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories, which are all within the Telco segment, at June 30, 2021 and September 30, 2020 are as follows, in thousands: June 30, 2021 September 30, 2020 New equipment $ 1,261 $ 1,311 Refurbished and used equipment 7,518 7,319 Allowance for excess and obsolete inventory (3,168) (3,054) Total inventories, net $ 5,611 $ 5,576 New equipment includes products purchased from manufacturers plus “surplus-new,” which are unused products purchased from other distributors or multiple system operators. Refurbished and used equipment include factory refurbished, Company refurbished and used products.

Intangible Assets

Intangible Assets	9 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the asset’s carrying amount may not be recoverable. The Company groups assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities and evaluate the asset group against the sum of the undiscounted future cash flows. If the undiscounted future cash flows do not indicate the carrying amount of the asset is recoverable, an impairment charge is measured as the amount by which the carrying amount of the asset group exceeds its fair value based on discounted cash flow analysis or appraisals. Intangible assets with their associated accumulated amortization and impairment at June 30, 2021 and September 30, 2020 are as follows, in thousands: June 30, 2021 Intangible assets: Gross Accumulated Amortization Impairment Net Customer relationships – 10 years $ 8,396 $ (4,141) $ (3,894) $ 361 Trade name – 10 years 2,122 (1,297) — 825 Total intangible assets $ 10,518 $ (5,438) $ (3,894) $ 1,186 September 30, 2020 Intangible assets: Gross Accumulated Impairment Net Customer relationships – 10 years $ 8,396 $ (4,021) $ (3,894) $ 481 Trade name – 10 years 2,122 (1,178) — 944 Non-compete agreements – 3 years 374 (374) — — Total intangible assets $ 10,892 $ (5,573) $ (3,894) $ 1,425

Debt

Debt	9 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt Loan Agreement On March 10, 2020, the Company entered into a loan agreement with its primary financial lender for $3.5 million, bearing interest at 6% per annum. The loan was payable in seven semi-annual installments of principal and interest with the first payment occurring June 30, 2020. In connection with the $1.5 million payment received in the first fiscal quarter of 2021 from the promissory note receivable, the Company fully repaid the remaining $1.2 million of principal outstanding under this loan. Credit Agreement The Company has a $4.0 million revolving line of credit agreement with its primary financial lender, which matures on December 17, 2021. The line of credit requires quarterly interest payments based on the prevailing Wall Street Journal Prime Rate, floating (3.25% at June 30, 2021), with the addition of a 4% floor rate and a fixed charge coverage ratio of 1.25 to be tested quarterly beginning June 30, 2021. At June 30, 2021, there was $2.8 million outstanding under the line of credit. Future borrowings under the line of credit are limited to the lesser of $4.0 million or the sum of 80% of eligible accounts receivable and 60% of eligible Telco segment inventory. Under these limitations, the Company’s total line of credit borrowing capacity was $4.0 million at June 30, 2021. Loan Covenant with Primary Financial Lender The credit agreement provides that the Company maintain a fixed charge coverage ratio (net cash flow to total fixed charge) of not less than 1.25 to 1.0 to be tested quarterly beginning June 30, 2021. The Company was not in compliance with this covenant at June 30, 2021. The Company notified its primary financial lender of the covenant violation, and on August 4, 2021, the primary financial lender granted a waiver of the covenant violation under the credit agreement. Although the covenant violation was waived at June 30, 2021, the Company believes it may again be out of compliance with this covenant at September 30, 2021. If the Company is not in compliance with the covenant at September 30, 2021, it would result in an event of default, which if not cured or waived, could result in the lender accelerating the maturity of the Company’s indebtedness or preventing access to additional funds under the line of credit agreement, or requiring prepayment of outstanding indebtedness under the loan agreement or the line of credit agreement. Paycheck Protection Program Loan On April 14, 2020, the Company entered into an unsecured loan in the amount of $2.9 million ("PPP Loan") with its primary lender pursuant to the Paycheck Protection Program ("PPP") which is sponsored by the Small Business Administration (“SBA”), and is part of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), as amended by the Paycheck Protection Program Flexibility Act of 2020 (“Flexibility Act”). The PPP provides for loans to qualifying businesses, the proceeds of which may be used for payroll costs, rent, utilities, mortgage interest, and interest on other pre-existing indebtedness (the “Permissible Expenses”). The PPP Loan, and accrued interest, may be forgiven partially or in full, if certain conditions are met, which includes if funds were expended for Permissible Expenses. The PPP Loan matures on April 14, 2022, bears interest at 1% per annum, with monthly payments of principal and interest in the amount of $164,045 commencing on the date on which the amount of loan forgiveness is determined by the SBA. On August 28, 2020, we submitted our application to our lender, requesting PPP Loan forgiveness of $2.9 million. Our lender reviewed our application for forgiveness and forwarded to the SBA on September 27, 2020 for approval. In the absence of an approval or denial of our application for forgiveness from the SBA, per the Flexibility Act, the date for commencement of loan payments has not yet occurred, and we have made no loan payments. While we believe we have met the eligibility requirements for the PPP Loan, and believe we have used the loan proceeds for Permissible Expenses, we can provide no assurances that we will receive full or partial forgiveness of the PPP Loan. Accordingly, we have recorded the full amount of the PPP Loan as debt, which is included in current and long-term debt, on our consolidated balance sheet at June 30, 2021. Fair Value of Debt The carrying value of the Company’s variable-rate line of credit approximates its fair value since the interest rate fluctuates periodically based on a floating interest rate. The carrying value of the Company’s term debt approximates fair value.

Equity Distribution Agreement a

Equity Distribution Agreement and Sale of Common Stock	9 Months Ended
	Jun. 30, 2021
Equity [Abstract]
Equity Distribution Agreement and Sale of Common Stock	Equity Distribution Agreement and Sale of Common Stock On April 24, 2020, the Company entered into an Equity Distribution Agreement with Northland Securities, Inc., as agent (“Northland”), pursuant to which the Company may offer and sell, from time to time, through Northland, shares of the Company’s common stock, par value 0.01 per share, having an aggregate offering price of up to $13,850,000 ("Shares"). The offer and sale of the Shares will be made pursuant to a shelf registration statement on Form S-3 and the related prospectus filed by the Company with the Securities and Exchange Commission (the “SEC”) on March 3, 2020, as amended on March 23, 2020, and declared effective by the SEC on April 1, 2020. Pursuant to the Sales Agreement, Northland may sell the Shares by any method permitted by law deemed to be an “at the market offering” as defined in Rule 415 of the Securities Act of 1933 (the “Securities Act”), including sales made by means of ordinary brokers’ transactions, including on The Nasdaq Global Market, at market prices or as otherwise agreed with Northland. Northland will use commercially reasonable efforts consistent with its normal trading and sales practices to sell the Shares from time to time, based upon instructions from the Company, including any price or size limits or other customary parameters or conditions the Company may impose. The Sales Agreement may be terminated without prior notice at any time prior to the fulfillment if additional sales are deemed not warranted. The Company will pay Northland a commission rate equal to an aggregate of 3.0% of the aggregate gross proceeds from each sale of Shares and have agreed to provide Northland with customary indemnification and contribution rights. The Company will also reimburse Northland for certain specified expenses in connection with entering into the Sales Agreement. The Sales Agreement contains customary representations and warranties and conditions to the placements of the Shares pursuant thereto.

Earnings per Share

Earnings per Share	9 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share are based on the sum of the average number of common shares outstanding and issuable, restricted and deferred shares. Diluted earnings per share include any dilutive effect of stock options and restricted stock. In computing the diluted weighted average shares, the average share price for the period is used in determining the number of shares assumed to be reacquired under the treasury stock method from the exercise of options. Basic and diluted earnings per share for the three and nine months ended June 30, 2021 and 2020 are (in thousands, except per share amounts): Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Net income (loss) attributable to common shareholders $ (2,124) $ 23 (7,141) (16,355) Basic weighted average shares 12,495,438 11,079,580 12,352,960 10,955,235 Effect of dilutive securities: — — — — Stock options — 137,108 — — Diluted weighted average shares 12,495,438 11,216,688 12,352,960 10,955,235 Income (loss) per common share: Basic $ (0.17) $ — $ (0.58) $ (1.49) Diluted $ (0.17) $ — $ (0.58) $ (1.49) The table below includes information related to stock options that were outstanding at the end of each respective three and nine month period ended June 30, but have been excluded from the computation of weighted-average stock options for dilutive securities because their effect would be anti-dilutive. The stock options were anti-dilutive either due to the Company incurring a net loss for the periods presented or the exercise price exceeded the average market price per share of our common stock for the three and nine months ended June 30, 2021 and 2020. Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Stock options excluded 50,000 150,000 50,000 480,000 Weighted average exercise price of stock options $ 1.28 $ 2.96 $ 1.28 $ 1.89 Average market price of common stock $ 2.35 $ 2.41 $ 2.61 $ 2.48

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Jun. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information (in thousands) Nine Months Ended June 30, 2021 2020 Supplemental cash flow information: Cash paid for interest $ 106 $ 144 Supplemental noncash investing and financing activities: Assets acquired under financing leases $ 832 $ 454

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Plan Information The 2015 Incentive Stock Plan (the “Plan”) provides for awards of stock options and restricted stock to officers, directors, key employees and consultants. At June 30, 2021, 2,100,415 shares of common stock were reserved for stock award grants under the Plan. Of these reserved shares, 396,246 shares were available for future grants. Stock Options A summary of the status of the Company's stock options at June 30, 2021 and changes during the nine months ended June 30, 2021 is presented below: Wtd. Avg. Shares Aggregate Intrinsic Value (in thousands) Outstanding at September 30, 2020 $ 1.55 100,000 $ 37 Exercised 1.81 (49,000) 49 Forfeited 1.81 (1,000) — Outstanding at June 30, 2021 $ 1.28 50,000 $ 69 Exercisable at June 30, 2021 $ 1.28 34,334 $ 44 Restricted stock awards A summary of the Company's non-vested restricted share awards (RSA) at June 30, 2021 and changes during the nine months ended June 30, 2021 is presented in the following table (in thousands, except shares): Shares Fair Value Non-vested at September 30, 2020 475,024 $ 1,058 Granted 444,390 965 Vested (228,358) (455) Forfeited (50,000) (125) Non-vested at June 30, 2021 641,056 $ 1,443 During the three month period ended June 30, 2021 and 2020, expenses (income) related to share-based arrangements including restricted stock and stock option awards, were $0.3 million and $(15) thousand, respectively. During the nine month period ended June 30, 2021 and 2020, compensation expenses related to share-based arrangements including restricted stock and stock option awards, were $0.8 million and $0.1 million respectively. The Company did not recognize a tax benefit for compensation expense recognized during the three and nine month period ended June 30, 2021 and 2020.

Leases

Leases	9 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Leases	Leases Our Wireless segment has an operating lease for a building in Fridley, Minnesota for Fulton Technologies, Inc. As a result of closing down and vacating Fulton Technologies, Inc.’s Minnesota office in May 2019, a third-party telecom company began subleasing this building in June 2019. Our Telco segment has an operating lease for a building in Jessup, Maryland for Nave Communications. As a result of moving Nave’s operations to Palco Telecom, a third-party logistics provider in Huntsville, Alabama, in fiscal year 2020, Nave completely vacated the building in May 2020 and has subleased part of the building during certain periods of fiscal year 2021. Rental payments received related to these subleases were recorded as a reduction to rent expense in our consolidated statements of operations for the three and six month periods ending June 30, 2021 and 2020. Rental payments received from subleased right-of-use assets is as follows: (in thousands) Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Subleased rental receipts: Wireless $ 46 $ 46 $ 137 $ 136 Telco — 100 115 301 Total subleased rental receipts $ 46 $ 146 $ 252 $ 437

Segment Reporting

Segment Reporting	9 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting The Company is reporting its financial performance based on its external reporting segments: Wireless Infrastructure Services and Telecommunications. These reportable segments are described below. Wireless Infrastructure Services (“Wireless”) The Wireless segment provides turn-key wireless infrastructure services for the four major U.S. wireless carriers, communication tower companies, national integrators, and original equipment manufacturers that support these wireless carriers. These services primarily consist of the installation and upgrade of technology on cell sites and the construction of new small cells for 5G. Telecommunications (“Telco”) The Company’s Telco segment sells new and refurbished telecommunications networking equipment, including both central office and customer premise equipment, to its customer base of telecommunications providers, enterprise customers and resellers located primarily in North America. This segment also offers its customers repair and testing services for telecommunications networking equipment. In addition, this segment offers its customers decommissioning services for surplus and obsolete equipment, which it in turn processes through its recycling program. The Company evaluates performance and allocates its resources based on operating income. The accounting policies of its reportable segments are the same as those described in the summary of significant accounting policies. Segment assets consist primarily of cash and cash equivalents, accounts receivable, inventories, property and equipment, goodwill and intangible assets. The Company changed the allocation of corporate general and administrative expenses between our reportable business segments. At September 30, 2020, the Company did not allocate the corporate general and administrative expenses to the reportable segments and listed those expenses separate from the operating results of those reportable segments. During fiscal 2021, the Company reviewed its reportable segments and its corporate general and administrative expenses and allocation methodology, which resulted in the Company allocating its corporate general and administrative expenses to the reportable segments. The prior period allocations have been adjusted to reflect the Company's current allocation methodology. Three Months Ended Nine Months Ended (in thousands) June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Sales Wireless $ 4,136 $ 5,123 $ 13,716 $ 16,593 Telco 12,881 6,899 28,717 21,350 Total sales $ 17,017 $ 12,022 $ 42,433 $ 37,943 Gross profit Wireless $ 1,233 $ 2,251 $ 4,370 $ 4,299 Telco 3,036 1,920 6,710 3,025 Total gross profit (loss) $ 4,269 $ 4,171 $ 11,079 $ 7,324 Wireless 30 % 44 % 32 % 26 % Telco 24 % 28 % 23 % 14 % Total gross profit margin (loss) 25 % 35 % 26 % 19 % Gain (loss) from operations Wireless $ (2,117) $ (75) $ (4,759) $ (3,310) Telco 16 (1,067) (2,303) (14,274) Total gain (loss) from operations $ (2,101) $ (1,142) $ (7,062) $ (17,584) (in thousands) June 30, 2021 September 30, 2020 Segment assets Wireless $ 5,645 $ 5,324 Telco 16,689 12,298 Non-allocated 6,664 14,881 Total assets $ 28,998 $ 32,503

Basis of Presentation and Acc_2

Basis of Presentation and Accounting Policies (Policies)	9 Months Ended
	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of presentation	Basis of presentation The consolidated financial statements include the accounts of ADDvantage Technologies Group, Inc. and its subsidiaries, all of which are wholly owned (collectively, the “Company”). Intercompany balances and transactions have been eliminated in consolidation. The Company’s reportable segments are Wireless Infrastructure Services (“Wireless”) and Telecommunications (“Telco”). The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial statements and do not include all the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. However, the information furnished reflects all adjustments, which are, in the opinion of management, necessary in order to make the unaudited consolidated financial statements not misleading. The Company’s business is subject to seasonal variations due to weather in the geographic areas where services are performed, as well as calendar events and national holidays. Therefore, the results of operations for the nine months ended June 30, 2021 and 2020, are not necessarily indicative of the results to be expected for the full fiscal year. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2020.
Reclassification	ReclassificationCertain prior period amounts have been reclassified to conform to current year presentation. These reclassifications had no effect on previously reported results of operations or retained earnings.
Recently issued accounting standards	Recently Issued Accounting Standards In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-13: “Financial Instruments – Credit Losses (Topic 326) – Measurement of Credit Losses on Financial Instruments.” This ASU requires entities to measure all expected credit losses for most financial assets held at the reporting date based on an expected loss model which includes historical experience, current conditions, and reasonable and supportable forecasts. Upon adoption, entities will use forward-looking information to better form their credit loss estimates. This ASU also requires enhanced disclosures to help financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity’s portfolio. On November 15, 2019, the FASB delayed the effective date of the standard for companies that qualify under smaller reporting company reporting rules. As amended, the effective date of ASC Topic 326 was delayed until fiscal years beginning after December 15, 2022 for SEC filers that are eligible to be smaller reporting companies under the Securities and Exchange Commission definition. We are currently in the process of evaluating this new standard update, however we do not anticipate the adoption will have a material impact on our results.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Our sales by type were as follows, in thousands: Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Wireless services sales $ 4,136 $ 5,123 $ 13,716 $ 16,593 Equipment sales: Telco 12,826 6,148 28,289 19,912 Intersegment — (23) — (23) Telco repair sales 1 33 14 49 Telco recycle sales 55 741 414 1,412 Total sales $ 17,017 $ 12,022 $ 42,433 $ 37,943

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories, which are all within the Telco segment, at June 30, 2021 and September 30, 2020 are as follows, in thousands: June 30, 2021 September 30, 2020 New equipment $ 1,261 $ 1,311 Refurbished and used equipment 7,518 7,319 Allowance for excess and obsolete inventory (3,168) (3,054) Total inventories, net $ 5,611 $ 5,576

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill	Intangible assets with their associated accumulated amortization and impairment at June 30, 2021 and September 30, 2020 are as follows, in thousands: June 30, 2021 Intangible assets: Gross Accumulated Amortization Impairment Net Customer relationships – 10 years $ 8,396 $ (4,141) $ (3,894) $ 361 Trade name – 10 years 2,122 (1,297) — 825 Total intangible assets $ 10,518 $ (5,438) $ (3,894) $ 1,186 September 30, 2020 Intangible assets: Gross Accumulated Impairment Net Customer relationships – 10 years $ 8,396 $ (4,021) $ (3,894) $ 481 Trade name – 10 years 2,122 (1,178) — 944 Non-compete agreements – 3 years 374 (374) — — Total intangible assets $ 10,892 $ (5,573) $ (3,894) $ 1,425

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Basic and diluted earnings per share for the three and nine months ended June 30, 2021 and 2020 are (in thousands, except per share amounts): Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Net income (loss) attributable to common shareholders $ (2,124) $ 23 (7,141) (16,355) Basic weighted average shares 12,495,438 11,079,580 12,352,960 10,955,235 Effect of dilutive securities: — — — — Stock options — 137,108 — — Diluted weighted average shares 12,495,438 11,216,688 12,352,960 10,955,235 Income (loss) per common share: Basic $ (0.17) $ — $ (0.58) $ (1.49) Diluted $ (0.17) $ — $ (0.58) $ (1.49)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The stock options were anti-dilutive either due to the Company incurring a net loss for the periods presented or the exercise price exceeded the average market price per share of our common stock for the three and nine months ended June 30, 2021 and 2020. Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Stock options excluded 50,000 150,000 50,000 480,000 Weighted average exercise price of stock options $ 1.28 $ 2.96 $ 1.28 $ 1.89 Average market price of common stock $ 2.35 $ 2.41 $ 2.61 $ 2.48

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Jun. 30, 2021
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	(in thousands) Nine Months Ended June 30, 2021 2020 Supplemental cash flow information: Cash paid for interest $ 106 $ 144 Supplemental noncash investing and financing activities: Assets acquired under financing leases $ 832 $ 454

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Share-based Payment Arrangement, Option, Activity	A summary of the status of the Company's stock options at June 30, 2021 and changes during the nine months ended June 30, 2021 is presented below: Wtd. Avg. Shares Aggregate Intrinsic Value (in thousands) Outstanding at September 30, 2020 $ 1.55 100,000 $ 37 Exercised 1.81 (49,000) 49 Forfeited 1.81 (1,000) — Outstanding at June 30, 2021 $ 1.28 50,000 $ 69 Exercisable at June 30, 2021 $ 1.28 34,334 $ 44
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award	A summary of the Company's non-vested restricted share awards (RSA) at June 30, 2021 and changes during the nine months ended June 30, 2021 is presented in the following table (in thousands, except shares): Shares Fair Value Non-vested at September 30, 2020 475,024 $ 1,058 Granted 444,390 965 Vested (228,358) (455) Forfeited (50,000) (125) Non-vested at June 30, 2021 641,056 $ 1,443

Leases (Tables)

Leases (Tables)	9 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Lease, Cost	Rental payments received from subleased right-of-use assets is as follows: (in thousands) Three Months Ended June 30, Nine Months Ended June 30, 2021 2020 2021 2020 Subleased rental receipts: Wireless $ 46 $ 46 $ 137 $ 136 Telco — 100 115 301 Total subleased rental receipts $ 46 $ 146 $ 252 $ 437

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The Company changed the allocation of corporate general and administrative expenses between our reportable business segments. At September 30, 2020, the Company did not allocate the corporate general and administrative expenses to the reportable segments and listed those expenses separate from the operating results of those reportable segments. During fiscal 2021, the Company reviewed its reportable segments and its corporate general and administrative expenses and allocation methodology, which resulted in the Company allocating its corporate general and administrative expenses to the reportable segments. The prior period allocations have been adjusted to reflect the Company's current allocation methodology. Three Months Ended Nine Months Ended (in thousands) June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Sales Wireless $ 4,136 $ 5,123 $ 13,716 $ 16,593 Telco 12,881 6,899 28,717 21,350 Total sales $ 17,017 $ 12,022 $ 42,433 $ 37,943 Gross profit Wireless $ 1,233 $ 2,251 $ 4,370 $ 4,299 Telco 3,036 1,920 6,710 3,025 Total gross profit (loss) $ 4,269 $ 4,171 $ 11,079 $ 7,324 Wireless 30 % 44 % 32 % 26 % Telco 24 % 28 % 23 % 14 % Total gross profit margin (loss) 25 % 35 % 26 % 19 % Gain (loss) from operations Wireless $ (2,117) $ (75) $ (4,759) $ (3,310) Telco 16 (1,067) (2,303) (14,274) Total gain (loss) from operations $ (2,101) $ (1,142) $ (7,062) $ (17,584) (in thousands) June 30, 2021 September 30, 2020 Segment assets Wireless $ 5,645 $ 5,324 Telco 16,689 12,298 Non-allocated 6,664 14,881 Total assets $ 28,998 $ 32,503

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Total sales	$ 17,017	$ 12,022			$ 42,433	$ 37,943
Contract assets	863				863		$ 590
Contract liabilities	144				144		$ 113
Contract liabilities, revenue recognized					$ 100
Customer Concentration Risk | Revenue Benchmark | Customer One
Disaggregation of Revenue [Line Items]
Total gross profit margin (loss)						24.00%
Customer Concentration Risk | Revenue Benchmark | Customer Two
Disaggregation of Revenue [Line Items]
Total gross profit margin (loss)						24.00%
Customer Concentration Risk | Revenue Benchmark | Largest Customer
Disaggregation of Revenue [Line Items]
Total gross profit margin (loss)					39.00%
Non-US
Disaggregation of Revenue [Line Items]
Total sales	$ 1,600	$ 700	$ 2,900	$ 1,500

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Total sales	$ 17,017	$ 12,022	$ 42,433	$ 37,943
Telco | Operating segments
Disaggregation of Revenue [Line Items]
Total sales	12,881	6,899	28,717	21,350
Wireless services sales
Disaggregation of Revenue [Line Items]
Total sales	4,136	5,123	13,716	16,593
Equipment sales: | Intersegment
Disaggregation of Revenue [Line Items]
Total sales	0	(23)	0	(23)
Equipment sales: | Telco | Operating segments
Disaggregation of Revenue [Line Items]
Total sales	12,826	6,148	28,289	19,912
Telco repair sales
Disaggregation of Revenue [Line Items]
Total sales	1	33	14	49
Telco recycle sales
Disaggregation of Revenue [Line Items]
Total sales	$ 55	$ 741	$ 414	$ 1,412

Accounts Receivable Agreements

Accounts Receivable Agreements (Details) - USD ($)	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Restricted cash	$ 136,000	$ 136,000		$ 136,000		$ 108,000
Certain Receivables to Unrelated Third-parties
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable agreement, percent of sold receivables advanced	90.00%	90.00%		90.00%
Accounts receivable agreement, reserve of sold receivables, percent	10.00%	10.00%		10.00%
Restricted cash	$ 100,000	$ 100,000		$ 100,000
Accounts receivable, sale	(900,000)
Maximum limit of receivables uncollected	4,000,000	4,000,000		4,000,000
Proceeds from collection of finance receivables				12,900,000	$ 15,900,000
Certain Receivables to Unrelated Third-parties | Other Nonoperating Income (Expense)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Cost of selling receivables		100,000	$ 100,000	$ 200,000	$ 300,000
Certain Receivables to Unrelated Third-parties | Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables, cost of sales, percent				0.70%
Certain Receivables to Unrelated Third-parties | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivables, cost of sales, percent					2.40%
Uncollectible Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Thirty party financial institution reserve	$ (900,000)	$ (900,000)		$ (900,000)

Promissory Note Receivable (Det

Promissory Note Receivable (Details) - USD ($)	9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 10, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds from promissory note receivable	$ 1,910,000	$ 2,025,000
Proceeds from promissory note receivable prepayment	1,400,000
Promissory note, amount outstanding	$ 1,900,000
Loan Agreement with Primary Financial Leader
Accounts, Notes, Loans and Financing Receivable [Line Items]
Debt instrument, face amount			$ 3,500,000
Promissory Note
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes receivable, interest rate	6.00%

Inventories - Schedule of Inven

Inventories - Schedule of Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Sep. 30, 2020
Inventory [Line Items]
Allowance for excess and obsolete inventory	$ (3,168)	$ (3,054)
Total inventories, net	5,611	5,576
New equipment
Inventory [Line Items]
Inventory, gross	1,261	1,311
Refurbished and used equipment
Inventory [Line Items]
Inventory, gross	$ 7,518	$ 7,319

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2021	Sep. 30, 2020
Finite-Lived Intangible Assets [Line Items]
Gross	$ 10,518	$ 10,892
Accumulated Amortization	(5,438)	(5,573)
Impairment	(3,894)	(3,894)
Net	1,186	1,425
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross	8,396	8,396
Accumulated Amortization	(4,141)	(4,021)
Impairment	(3,894)	(3,894)
Net	$ 361	$ 481
Useful life	10 years	10 years
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross	$ 2,122	$ 2,122
Accumulated Amortization	(1,297)	(1,178)
Impairment	0	0
Net	$ 825	$ 944
Useful life	10 years	10 years
Noncompete agreements
Finite-Lived Intangible Assets [Line Items]
Gross		$ 374
Accumulated Amortization		(374)
Impairment		0
Net		$ 0
Useful life		3 years

Debt (Details)

Debt (Details)	Aug. 28, 2020USD ($)	Apr. 14, 2020USD ($)	Dec. 31, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Dec. 17, 2021USD ($)	Mar. 10, 2020USD ($)installment
Debt Instrument [Line Items]
Proceeds from promissory note receivable				$ 1,910,000	$ 2,025,000
Repayments of notes payable				1,249,000	1,622,000
Proceeds from note payable				$ 0	$ 6,374,000
Leveling 8 | Promissory Note
Debt Instrument [Line Items]
Proceeds from promissory note receivable			$ 1,500,000
Loan Agreement
Debt Instrument [Line Items]
Debt instrument, face amount							$ 3,500,000
Debt instrument, interest rate							6.00%
Loan Agreement | Leveling 8
Debt Instrument [Line Items]
Repayments of notes payable			$ 1,200,000
Credit and Term Loan Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, number of installments | installment							7
New Credit Agreement
Debt Instrument [Line Items]
Fixed charge coverage ratio, minimum Requirement				1.25
New Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity				$ 4,000,000
Debt instrument, effective interest rate				3.25%
Debt instrument, floor rate				4.00%
Line of credit, amount outstanding				$ 2,800,000
Percentage of qualified accounts receivable used in determination of maximum borrowing capacity of line of credit				0.80
Percentage of qualified inventory used in determination of maximum borrowing capacity of line of credit				0.60
Line of credit, current borrowing capacity				$ 4,000,000
New Credit Agreement | Revolving Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Line of credit, maximum borrowing capacity						$ 4,000,000
Loan Agreement with Primary Financial Leader
Debt Instrument [Line Items]
Debt instrument, face amount							$ 3,500,000
Fixed charge coverage ratio, minimum Requirement				1.25
Paycheck Protection Program CARES Act
Debt Instrument [Line Items]
Debt instrument, interest rate		1.00%
Proceeds from note payable	$ 2,900,000	$ 2,900,000
Debt instrument, periodic payment, total		$ 164,045

Equity Distribution Agreement_2

Equity Distribution Agreement and Sale of Common Stock (Details) - USD ($)	9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020	Apr. 24, 2020
Subsidiary, Sale of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.01		$ 0.01
Proceeds from sale of common stock, gross	$ 900,000	$ 1,829,000
Sales Agreement With Northland
Subsidiary, Sale of Stock [Line Items]
Common stock, par value (in dollars per share)				$ 0.01
Maximum aggregate offering price				$ 13,850,000
Commission rate	3.00%
Issuance of common shares (in shares)	245,973
Proceeds from sale of common stock, gross	$ 900,000
Proceeds from sale of common stock, net	$ 900,000

Earnings Per Share - Basic and

Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Net income (loss) attributable to common shareholders	$ (2,124)	$ 23	$ (7,141)	$ (16,355)
Net income (loss) attributable to common shareholders	$ (2,124)	$ 23	$ (7,141)	$ (16,355)
Basic weighted average shares (in shares)	12,495,438	11,079,580	12,352,960	10,955,235
Stock options (in shares)	0	137,108	0	0
Diluted weighted average shares (in shares)	12,495,438	11,216,688	12,352,960	10,955,235
Income (loss) per common share:
Basic (in dollars per share)	$ (0.17)	$ 0	$ (0.58)	$ (1.49)
Diluted (in dollars per share)	$ (0.17)	$ 0	$ (0.58)	$ (1.49)

Earnings Per Share - Anti-dilut

Earnings Per Share - Anti-dilutive Securities (Details) - $ / shares	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Stock options excluded (in shares)	50,000	150,000	50,000	480,000
Weighted average exercise price of stock options (in dollars per share)	$ 1.28	$ 2.96	$ 1.28	$ 1.89
Average market price of common stock (in dollars per share)	$ 2.35	$ 2.41	$ 2.61	$ 2.48

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Supplemental cash flow information:
Cash paid for interest	$ 106	$ 144
Supplemental noncash investing and financing activities:
Assets acquired under financing leases	$ 832	$ 454

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	$ 300	$ (15)	$ 800	$ 100
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense	300	$ (15)	800	$ 100
Compensation cost, not yet recognized	$ 800		$ 800
Recognized over a period			2 years 10 months 24 days
The 2015 Incentive Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock, capital shares reserved for future issuance (in shares)	2,100,415		2,100,415
Number of shares available for grant (in shares)	396,246		396,246

Stock-Based Compensation - Shar

Stock-Based Compensation - Share-based Payment Arrangement, Option, Activity (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Jun. 30, 2021USD ($)$ / sharesshares
Wtd. Avg. Ex. Price
Outstanding, beginning balance (in dollars per share) | $ / shares	$ 1.55
Exercised (in dollars per share) | $ / shares	1.81
Forfeited (in dollars per share) | $ / shares	1.81
Outstanding, ending balance (in dollars per share) | $ / shares	1.28
Exercisable (in dollars per share) | $ / shares	$ 1.28
Shares
Outstanding, beginning balance (in shares) | shares	100,000
Exercised (in shares) | shares	(49,000)
Forfeited (in shares) | shares	(1,000)
Outstanding, ending balance (in shares) | shares	50,000
Exercisable (in shares) | shares	34,334
Aggregate Intrinsic Value
Outstanding beginning balance | $	$ 37
Exercised | $	49
Outstanding ending balance | $	69
Exercisable | $	$ 44

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Non-vested Restricted Share Awards (Details) $ in Thousands	9 Months Ended
	Jun. 30, 2021USD ($)shares
Shares
Non-vested, beginning balance (in shares) | shares	475,024
Granted (in shares) | shares	444,390
Vested (in shares) | shares	(228,358)
Forfeited (in shares) | shares	(50,000)
Non-vested, ending balance (in shares) | shares	641,056
Fair Value
Non-vested, beginning balance | $	$ 1,058
Granted | $	965
Vested | $	(455)
Forfeited | $	(125)
Non-vested, ending balance | $	$ 1,443

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Lessee, Lease, Description [Line Items]
Total subleased rental receipts	$ 46	$ 146	$ 252	$ 437
Wireless
Lessee, Lease, Description [Line Items]
Total subleased rental receipts	46	46	137	136
Telco
Lessee, Lease, Description [Line Items]
Total subleased rental receipts	$ 0	$ 100	$ 115	$ 301

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Sep. 30, 2020
Segment Reporting Information [Line Items]
Total sales	$ 17,017	$ 12,022	$ 42,433	$ 37,943
Total gross profit (loss)	4,269	4,171	11,079	7,324
Total gain (loss) from operations	(2,101)	(1,142)	(7,062)	$ (17,584)
Total assets	28,998		$ 28,998		$ 32,503
Operating segments
Segment Reporting Information [Line Items]
Total gross profit (loss)	$ 4,269	$ 4,171
Total gross profit margin (loss)	25.00%	35.00%	26.00%	19.00%
Non-allocated
Segment Reporting Information [Line Items]
Total assets	$ 6,664		$ 6,664		14,881
Wireless | Operating segments
Segment Reporting Information [Line Items]
Total sales	4,136	$ 5,123	13,716	$ 16,593
Total gross profit (loss)	$ 1,233	$ 2,251	$ 4,370	$ 4,299
Total gross profit margin (loss)	30.00%	44.00%	32.00%	26.00%
Total gain (loss) from operations	$ (2,117)	$ (75)	$ (4,759)	$ (3,310)
Total assets	5,645		5,645		5,324
Telco | Operating segments
Segment Reporting Information [Line Items]
Total sales	12,881	6,899	28,717	21,350
Total gross profit (loss)	$ 3,036	$ 1,920	$ 6,710	$ 3,025
Total gross profit margin (loss)	24.00%	28.00%	23.00%	14.00%
Total gain (loss) from operations	$ 16	$ (1,067)	$ (2,303)	$ (14,274)
Total assets	$ 16,689		$ 16,689		$ 12,298