Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Sep. 30, 2021 | Nov. 19, 2021 | Mar. 31, 2021 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0000924383 | ||
Entity Registrant Name | Genasys Inc. | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --09-30 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2021 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Sep. 30, 2021 | ||
Document Transition Report | false | ||
Entity File Number | 0-24248 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 87-0361799 | ||
Entity Address, Address Line One | 16262 West Bernardo Drive | ||
Entity Address, City or Town | San Diego | ||
Entity Address, State or Province | CA | ||
Entity Address, Postal Zip Code | 92127 | ||
City Area Code | 858 | ||
Local Phone Number | 676-1112 | ||
Title of 12(b) Security | Common stock, $0.00001 par value per share | ||
Trading Symbol | GNSS | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Small Business | true | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 191,676,200 | ||
Entity Common Stock, Shares Outstanding | 36,482,197 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
ASSETS | ||
Cash and cash equivalents | $ 13,167 | $ 23,319 |
Short-term marketable securities | 5,686 | 4,265 |
Restricted cash | 279 | 282 |
Accounts receivable, net | 7,682 | 5,442 |
Inventories, net | 6,416 | 5,949 |
Prepaid expenses and other | 2,255 | 860 |
Total current assets | 35,485 | 40,117 |
Long-term marketable securities | 1,875 | 3,805 |
Long-term restricted cash | 1,082 | 395 |
Deferred tax assets, net | 8,039 | 11,095 |
Property and equipment, net | 1,755 | 1,930 |
Goodwill | 23,834 | 2,472 |
Intangible assets, net | 12,804 | 943 |
Operating lease right of use assets | 4,862 | 5,285 |
Other assets | 392 | 125 |
Total assets | 90,128 | 66,167 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Accounts payable | 2,160 | 1,370 |
Accrued liabilities | 14,111 | 7,880 |
Notes payable | 296 | 300 |
Operating lease liabilities, current portion | 899 | 771 |
Total current liabilities | 17,466 | 10,321 |
Notes payable, noncurrent | 0 | 18 |
Other liabilities, noncurrent | 995 | 293 |
Operating lease liabilities, noncurrent | 5,709 | 6,395 |
Total liabilities | 24,170 | 17,027 |
Stockholders' equity: | ||
Preferred stock, $0.00001 par value; 5,000,000 shares authorized; none issued and outstanding | 0 | 0 |
Common stock, $0.00001 par value; 100,000,000 shares authorized; 36,403,833 and 33,561,544 shares issued and outstanding, respectively | 0 | 0 |
Additional paid-in capital | 107,110 | 91,248 |
Accumulated deficit | (41,154) | (41,858) |
Accumulated other comprehensive income (loss) | 2 | (250) |
Total stockholders' equity | 65,958 | 49,140 |
Total liabilities and stockholders' equity | $ 90,128 | $ 66,167 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Sep. 30, 2021 | Sep. 30, 2020 |
Preferred stock, par value (in dollars per share) | $ 0.00001 | $ 0.00001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.00001 | $ 0.00001 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, issued (in shares) | 36,403,833 | 33,561,544 |
Common stock, outstanding (in shares) | 36,403,833 | 33,561,544 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Revenues | $ 47,003 | $ 43,010 |
Cost of revenues | 23,577 | 20,371 |
Gross Profit | 23,426 | 22,639 |
Operating expenses | ||
Selling, general and administrative | 17,424 | 12,044 |
Research and development | 4,918 | 4,554 |
Total operating expenses | 22,342 | 16,598 |
Income from operations | 1,084 | 6,041 |
Other income, net | 54 | 127 |
Income before income taxes | 1,138 | 6,168 |
Income tax expense (benefit) | 434 | (5,706) |
Net income | $ 704 | $ 11,874 |
Net income per common share: | ||
Basic (in dollars per share) | $ 0.02 | $ 0.36 |
Diluted (in dollars per share) | $ 0.02 | $ 0.35 |
Weighted average common shares outstanding: | ||
Basic (in shares) | 34,409,478 | 33,220,915 |
Diluted (in shares) | 35,589,148 | 34,092,328 |
Product [Member] | ||
Revenues | $ 41,602 | $ 39,509 |
Service [Member] | ||
Revenues | $ 5,401 | $ 3,501 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Net income | $ 704 | $ 11,874 |
Other comprehensive income | ||
Unrealized loss on marketable securities | (8) | (4) |
Unrealized foreign currency gain | 260 | 213 |
Comprehensive income | $ 956 | $ 12,083 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Sep. 30, 2019 | 32,949,987 | ||||
Balance at Sep. 30, 2019 | $ 330 | $ 89,572 | $ (53,732) | $ (459) | $ 35,381 |
Share-based compensation expense | $ 0 | 980 | 0 | 0 | $ 980 |
Issuance of common stock upon exercise of stock options, net (in shares) | 583,019 | 583,019 | |||
Issuance of common stock upon exercise of stock options, net | $ 6 | 1,136 | 0 | 0 | $ 1,136 |
Issuance of common stock upon vesting of restricted stock units (in shares) | 198,106 | 198,106 | |||
Issuance of common stock upon vesting of restricted stock units | $ 2 | 0 | 0 | 0 | $ 0 |
Shares retained for payment of taxes in connection with net share settlement of restricted stock units (in shares) | (13,063) | ||||
Shares retained for payment of taxes in connection with net share settlement of restricted stock units | $ 0 | (42) | 0 | 0 | (42) |
Stock buyback (in shares) | (156,505) | ||||
Stock buyback | $ (2) | (398) | 0 | 0 | (398) |
Accumulated other comprehensive income | 0 | 0 | 0 | 209 | 209 |
Net income | $ 0 | 0 | 11,874 | 11,874 | |
Balance (in shares) at Sep. 30, 2020 | 33,561,544 | ||||
Balance at Sep. 30, 2020 | $ 336 | 91,248 | (41,858) | (250) | 49,140 |
Share-based compensation expense | $ 0 | 1,424 | 0 | 0 | $ 1,424 |
Issuance of common stock upon exercise of stock options, net (in shares) | 104,796 | 104,796 | |||
Issuance of common stock upon exercise of stock options, net | $ 1 | 210 | 0 | 0 | $ 210 |
Issuance of common stock upon vesting of restricted stock units (in shares) | 228,633 | 228,633 | |||
Issuance of common stock upon vesting of restricted stock units | $ 2 | 0 | 0 | 0 | $ 0 |
Shares retained for payment of taxes in connection with net share settlement of restricted stock units (in shares) | (22,073) | ||||
Shares retained for payment of taxes in connection with net share settlement of restricted stock units | $ 0 | (141) | 0 | 0 | (141) |
Accumulated other comprehensive income | 0 | 0 | 0 | 252 | 252 |
Net income | $ 0 | 0 | 704 | 0 | 704 |
Issuance of common stock in business combination (in shares) | 2,165,824 | ||||
Issuance of common stock in business combination | $ 22 | 10,938 | 0 | 0 | 10,938 |
Obligation to issue common stock | 3,431 | 0 | 0 | 3,431 | |
Release of obligation to issue commons stock (in shares) | 365,109 | ||||
Release of obligation to issue commons stock | $ 3 | 0 | 0 | 0 | 0 |
Balance (in shares) at Sep. 30, 2021 | 36,403,833 | ||||
Balance at Sep. 30, 2021 | $ 364 | $ 107,110 | $ (41,154) | $ 2 | $ 65,958 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Operating Activities: | ||
Net income | $ 704 | $ 11,874 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 1,597 | 800 |
Amortization of debt issuance costs | 11 | 0 |
Provision for doubtful accounts | 0 | 4 |
Warranty provision | 54 | 16 |
Inventory obsolescence | 379 | 407 |
Stock-based compensation | 1,424 | 980 |
Realized loss on foreign currency forward contract | (76) | 0 |
Unrealized (loss) gain on foreign currency forward contract | 0 | 76 |
Deferred income taxes | 433 | (5,708) |
Amortization of operating lease right of use asset | 694 | 599 |
Accretion of acquisition holdback liability | 46 | 0 |
Changes in operating assets and liabilities: | ||
Accounts receivable, net | (2,138) | (1,775) |
Inventories, net | (846) | (521) |
Prepaid expenses and other | (1,634) | 927 |
Accounts payable | 600 | 477 |
Accrued and other liabilities | 4,902 | (1,238) |
Net cash provided by operating activities | 6,150 | 6,918 |
Investing Activities: | ||
Purchases of marketable securities | (5,144) | (8,056) |
Proceeds from maturities of marketable securities | 5,646 | 5,061 |
Cash paid for acquisitions net of cash acquired | (15,848) | 0 |
Capital expenditures | (208) | (140) |
Net cash used in investing activities | (15,554) | (3,135) |
Financing Activities: | ||
Proceeds from exercise of stock options | 210 | 1,136 |
Repurchase of common stock | 0 | (398) |
Shares retained for payment of taxes in connection with settlement of restricted stock units | (141) | (42) |
Payments on promissory notes | (18) | (17) |
Cash paid for debt issuance costs | (38) | 0 |
Net cash provided by financing activities | 13 | 679 |
Effect of foreign exchange rate on cash | (77) | 17 |
Net (decrease) increase in cash, cash equivalents, and restricted cash | (9,468) | 4,479 |
Cash, cash equivalents and restricted cash, beginning of period | 23,996 | 19,517 |
Cash, cash equivalents and restricted cash, end of period | 14,528 | 23,996 |
Cash and cash equivalents | 13,167 | 23,319 |
Restricted cash, current portion | 279 | 282 |
Long-term restricted cash | 1,082 | 395 |
Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows | 14,528 | 23,996 |
Noncash investing and financing activities: | ||
Change in unrealized loss on marketable securities | (7) | (4) |
Initial measurement of operating lease right of use assets | 259 | 5,824 |
Initial measurement of operating lease liabilities | 259 | 7,815 |
Fair value of net assets acquired | 30,980 | 0 |
Zonehaven, Inc [Member] | ||
Noncash investing and financing activities: | ||
Common stock issued in connection with the purchase of Zonehaven | (10,938) | 0 |
Assets Acquisition of Amika Mobile Corporation [Member] | ||
Noncash investing and financing activities: | ||
Obligation to issue common stock in connection with the Amika Mobile asset purchase | $ (1,248) | $ 0 |
Note 1 - Operations
Note 1 - Operations | 12 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. Genasys Inc. is a global provider of critical communications hardware and software solutions designed to alert, inform, and protect. The Company's unified platform receives information from a wide variety of sensors and Internet-of-Things (IoT) inputs to collect real-time information on developing and active emergency situations. The Company uses this information to create and disseminate alerts, warnings, notifications, and instructions through multiple channels before, during, and after public safety and enterprise threats, critical events, and other crisis situations. |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation and Significant Accounting Policies | 12 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | 2. PRINCIPLES OF CONSOLIDATION The Company has eight USE OF ESTIMATES The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions (e.g., share-based compensation valuation, allowance for doubtful accounts, valuation of inventory and intangible assets, warranty reserve, accrued bonus and valuation allowance related to deferred tax assets) that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and affect the reported amounts of revenues and expenses during the reporting periods. Actual results could materially differ from those estimates. CONCENTRATION OF CREDIT RISK The Company sells its products to a large number of geographically diverse customers. The Company routinely assesses the financial strength of its customers. It is customary for the Company to require a deposit as collateral. As of September 30, 2021, no 10% September 30, 2020, no 10% The Company maintains cash and cash equivalent bank deposit accounts which, at times, may not one no three no CASH, CASH EQUIVALENTS AND RESTRICTED CASH The Company considers all highly liquid investments with an original maturity of three September 30, 2021 2020, The Company considers any amounts pledged as collateral or otherwise restricted for use in current operations to be restricted cash. In addition, the Company excludes from cash and cash equivalents cash required to fund specific future contractual obligations related to business combinations. Restricted cash is classified as a current asset unless amounts are not one September 30, 2021 2020, MARKETABLE SECURITIES The Company accounts for investments in debt instruments as available-for-sale. Management determines the appropriate classification of such securities at the time of purchase and re-evaluates such classification as of each balance sheet date. Marketable securities are reported at fair value with the related unrealized gains and losses included in accumulated other comprehensive income. The realized gains and losses on marketable securities are determined using the specific identification method. ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS The Company carries accounts receivable at historical cost, less an allowance for doubtful accounts. On a periodic basis, the Company evaluates accounts receivable and establishes an allowance for doubtful accounts for estimated losses considering the following factors when determining if collection of a receivable is probable: customer credit-worthiness, past transaction history with the customer, current economic industry trends and changes in customer payment terms. If the Company has no may may not no September 30, 2021 2020 September 30, 2021 2020, CONTRACT MANUFACTURERS The Company employs contract manufacturers for production of certain components and sub-assemblies. The Company may no 2021 2020, INVENTORIES Inventories are valued at the lower of cost or net realizable value. Cost is determined using a standard cost system whereby differences between the standard cost and purchase price are recorded as a purchase price variance in cost of revenues. Inventory is comprised of raw materials, assemblies and finished products intended for sale . September 30, 2021 may not September 30, 2020 may not EQUIPMENT AND DEPRECIATION Equipment is stated at cost. Depreciation on machinery and equipment and office furniture and equipment is computed over the estimated useful lives of two seven BUSINESS COMBINATIONS The acquisition method of accounting for business combinations requires the Company to use significant estimates and assumptions, including fair value estimates, as of the business combination date and to refine those estimates as necessary during the measurement period (defined as the period, not one may Under the acquisition method of accounting the Company recognizes separately from goodwill the identifiable assets acquired, the liabilities assumed generally at the acquisition date fair value. The Company measures goodwill as of the acquisition date as the excess of consideration transferred, which the Company also measures at fair value, over the net of the acquisition date amounts of the identifiable assets acquired and liabilities assumed. Costs that the Company incurs to complete the business combination such as investment banking, legal and other professional fees are not Under the acquisition method of accounting for business combinations, if the Company identifies changes to acquired deferred tax asset valuation allowances or liabilities related to uncertain tax positions during the measurement period and they relate to new information obtained about facts and circumstances that existed as of the acquisition date, those changes are considered a measurement period adjustment and the Company records the offset to goodwill. The Company records all other changes to deferred tax asset valuation allowances and liabilities related to uncertain tax positions in current period income tax expense. Refer to Note 4, September 30, 2021. GOODWILL AND INTANGIBLE ASSETS Identifiable intangible assets, which consist of technology, customer relationships, non-compete agreements, patents, tradenames and trademarks, are carried at cost less accumulated amortization. Intangible assets are amortized over their estimated useful lives, based on a number of assumptions including estimated periodic economic benefit and utilization. The estimated useful lives of identifiable intangible assets have been estimated to be between three fifteen Goodwill is recorded as the difference, if any, between the aggregate consideration paid for an acquisition and the fair value of the acquired net tangible and intangible assets acquired. The Company evaluates goodwill for impairment on an annual basis in our fiscal fourth not not not two not September 30, 2021. 9, LEASES The Company adopted Accounting Standards Codification (“ASC”) Topic 842, Leases 842” October 1, 2019. 842, 12 12 842. 13, SHIPPING AND HANDLING COSTS Shipping and handling costs are included in cost of revenues. Shipping and handling costs invoiced to customers are included in revenue. Actual shipping and handling costs were $232 and $259 for the fiscal years ended September 30, 2021 2020, September 30, 2021 2020, ADVERTISING Advertising costs are charged to expense as incurred and were $193 and $263 for the years ended September 30, 2021 2020, RESEARCH AND DEVELOPMENT COSTS Research and development costs are expensed as incurred. WARRANTY RESERVES The Company warrants its products to be free from defects in materials and workmanship for a period of one may The Company establishes a warranty reserve based on anticipated warranty claims at the time product revenues are recognized. Factors affecting warranty reserve levels include the number of units sold, anticipated cost of warranty repairs and anticipated rates of warranty claims. The Company evaluates the adequacy of the provision for warranty costs each reporting period. The warranty reserve was $146 and $126 as of September 30, 2021 2020, INCOME TAXES The Company determines its income tax provision using the asset and liability method. Temporary differences are differences between the tax basis of assets and liabilities and their reported amounts in the financial statements that will result in taxable or deductible amounts in future years. A valuation allowance is recorded by the Company to the extent it is more likely than not not 14, IMPAIRMENT OF LONG-LIVED ASSETS Long-lived assets and finite-lived intangibles held for use are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not no September 30, 2021 September 30, 2020. 6, 9, SEGMENT INFORMATION The Company is a global provider of critical communications hardware and software solutions designed to alert, inform, and protect. The Company operates in two business segments: Hardware and Software and its principal markets are North and South America, Europe, the Middle East and Asia. As reviewed by the Company’s chief operating decision maker, the Company evaluates the performance of each segment based on sales and operating income. Cash and cash equivalents, marketable securities, accounts receivable, inventory, property and equipment, deferred tax assets, goodwill and intangible assets are primary assets identified by segment. The accounting policies for segment reporting are the same for the Company as a whole and transactions between the two operating segments are eliminated in consolidation. Refer to Note 19, NET INCOME PER SHARE Basic net income per share is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted net income per share reflects the potential dilution of securities that could occur if outstanding securities convertible into common stock were exercised or converted. Refer to Note 18, DERIVATIVES The Company does not 6, FOREIGN CURRENCY TRANSLATION The Company’s reporting currency is U.S. dollars. The functional currency of the Company is the U.S. dollar. The functional currency of Genasys Spain is the Euro and the function currency of Genasys Canada is the Canadian dollar. The Company translates the assets and liabilities of Genasys Spain and Genasys Canada at the exchange rates in effect on the balance sheet date. The Company translates the revenue, costs and expenses of Genasys Spain and Genasys Canada at the average rates of exchange in effect during the period. The Company includes translation gains and losses in the stockholders’ equity section of the Company’s balance sheets in accumulated other comprehensive income or loss. Transactions undertaken in other currencies are translated using the exchange rate in effect as of the transaction date and any exchange gains and losses resulting from these transactions, are included in the statements of operations. The translation gain for the period was $260 resulting from transactions between Genasys U.S. and Genasys Spain and Genasys Communications Canada ULC, the timing of transactions in relation to changes in exchange rates and the fluctuation in the exchange rate between foreign currencies and the U.S. dollar. SHARE-BASED COMPENSATION The Company recognized share-based compensation expense related to qualified and non-qualified stock options issued to employees, directors and consultants over the expected vesting term of the stock-based instrument based on the grant date fair value. Forfeitures are estimated at the time of the grant and revised in subsequent periods if actual forfeitures differ from those estimates or if the Company updates its estimated forfeiture rate. Refer to Note 16, IMMATERIAL CORRECTION OF PRIOR PERIOD FINANCIAL STATEMENTS During the quarter ended December 31, 2020, September 30, 2020 no September 30, 2020, no September 30, 2021, first 2021. No. 99 No. 108 no September 30, 2021, September 30, 2020, September 30, 2020. RECLASSIFICATIONS Where necessary, the prior year’s information has been reclassified to conform to the fiscal year 2021 no SUBSEQUENT EVENTS Management evaluates events subsequent to September 30, 2021, no September 30, 2021. |
Note 3 - Recent Accounting Pron
Note 3 - Recent Accounting Pronouncements | 12 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | 3. New pronouncements pending adoption In June 2016, No. 2016 13, Measurement of Credit Losses on Financial Instruments November 2019, No. 2019 10, Financial Instruments Credit Losses (Topic 326 815 842 326 December 15, 2022. first October 1, 2023, not not In March 2020, No. 2020 04, Reference Rate Reform (Topic 848 No. 2020 04 No. 2020 04 No. 2021 01, Reference Rate Reform (Topic 848 848 March 12, 2020 December 31, 2022. not New pronouncements adopted In August 2018, No. 2018 13, Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement not . 3 December 15, 2019, No. 2018 13 October 1, 2020, no In January 2017, No. 2017 04, Intangibles Goodwill and Other (Topic 350 no 350, December 15, 2019. No. 2017 04 October 1, 2020, no |
Note 4 - Business Combinations
Note 4 - Business Combinations | 12 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 4. Zonehaven On June 7, 2021, Zonehaven provides planning, training, and resources to first The Zonehaven acquisition was accounted for as a business combination using the acquisition method pursuant to Accounting Standards Codification (“ASC”) Topic 805. may The consideration consisted of the following: Cash paid $ 11,481 Common stock issued 10,938 Shareholder representative reserve payable 150 $ 22,569 The Company funded the cash portion of the total consideration with available cash on hand. The Company also issued 2,165,824 shares of the Company’s common stock to the former owners of Zonehaven. The fair value of the Company’s stock on the closing date was $5.05, resulting in the addition of $10,938 to additional-paid-in-capital. The shareholder representative reserve payable is a current liability and recorded in the current portion of accrued liabilities as of September 30, 2021. The Company incurred $140 in expenses related to this transaction through September 30, 2021. fourth 2021, third 2021 second 2021. Purchase price allocation Assets acquired Accounts receivable $ 120 Deferred tax asset 106 Intangible assets 10,100 Goodwill 15,538 Total assets acquired $ 25,864 Liabilities assumed Accounts payable $ 194 Accrued liabilities 372 Deferred tax liability 2,729 Total liabilities assumed 3,295 Net assets acquired $ 22,569 The estimated fair value of the identifiable intangible assets acquired and their estimated useful lives are as follows: Fair Value Estimated Useful Lives (in years) Developed Technology $ 8,800 7 Trade Names 400 5 Customer Relationships 900 5 $ 10,100 Identifiable intangible assets consist of certain technology, trade name and customer relationships purchased from Zonehaven. Identifiable intangible assets are amortized over their estimated useful lives based upon several assumptions, including the estimated period of economic benefit and utilization. The weighted average amortization period for identifiable intangible assets acquired is 6.7 years. These intangible assets are classified as Level 3 820 three The goodwill for Zonehaven is attributable to combining the Company’s existing emergency communications solutions with the software and software development capabilities of Zonehaven to enhance product offerings. Goodwill is also attributable to the skill level of the acquired workforce. The Company will continue to analyze the transaction and refine its calculations, as appropriate during the measurement period, which could affect the value of goodwill. Goodwill from the Zonehaven acquisition will not Amika Mobile Asset Purchase On October 2, 2020, The Amika Mobile asset purchase was accounted for as a business combination using the acquisition method pursuant to ASC Topic 805. The consideration consisted of the following: Cash paid $ 4,367 Acquisition holdback liability 613 Common stock to be issued 3,431 $ 8,411 Under the terms of the Asset Purchase Agreement, the Company was required to deposit a holdback liability in the amount of CAD$1,000 three second third twelve September 30, 2021, The Company incurred $264 in expenses related to this transaction through September 30, 2021. second 2021, first 2021, fourth 2020 third 2020. Assets Acquired Prepaid expenses $ 2 Property and equipment 22 Operating lease right of use asset 248 Intangible Assets 2,820 Goodwill 5,590 Total assets acquired $ 8,682 Liabilities assumed Accrued liabilities $ 23 Operating lease liability 248 Total liabilities assumed 271 Net Assets acquired $ 8,411 The estimated fair value of the identifiable intangible assets acquired and their estimated useful lives are as follows: Fair Value Estimated Useful Lives (in years) Developed technology $ 2,500 7 Customer relationships 320 7 $ 2,820 Identifiable intangible assets consist of certain technology and customer relationships purchased from Amika Mobile. Identifiable intangible assets are amortized over their useful lives based upon a number of assumptions, including the estimated period of economic benefit and utilization. The weighted average amortization period for identifiable intangible assets acquired is 7 years. These intangible assets are classified as Level 3 820 three The goodwill for Amika Mobile is attributable to combining the Company’s existing emergency communications solutions with the software and software development capabilities of Amika Mobile to enhance product offerings. Goodwill is also attributable to the skill level of the acquired workforce. Goodwill from the Amika Mobile asset purchase will not Pro forma results of operations for these acquisitions have not not |
Note 5 - Revenue Recognition
Note 5 - Revenue Recognition | 12 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 5. The Company adopted ASU 2014 09 October 1, 2018. Topic 606 five 1. Identify the contract(s) with customers 2. Identify the performance obligations 3. Determine the transaction price 4. Allocate the transaction price to the performance obligations 5. Recognize revenue when the performance obligations have been satisfied Topic 606 The Company derives its revenue from the sale of products to customers, contracts, license fees, other services and freight. The Company sells its products through its direct sales force and through authorized resellers and system integrators. The Company recognizes revenue for goods including software when all the significant risks and rewards have been transferred to the customer, no no may one may Product Revenue Product revenue is recognized as a distinct single performance obligation when products are tendered to a carrier for delivery, which represents the point in time that our customer obtains control of the products. A smaller portion of product revenue is recognized when the customer receives delivery of the products. A portion of products are sold through resellers and system integrators based on firm commitments from an end user, and as a result, resellers and system integrators carry little or no not Perpetual licensed software The sale and/or license of software products is deemed to have occurred when a customer either has taken possession of, or has the ability to take immediate possession of, the software and the software key. Perpetual software licenses can include one Time-based licensed software The time-based license agreements include the use of a software license for a fixed term, generally one not Warranty, maintenance and services The Company offers extended warranty, maintenance and other services. Extended warranty and maintenance contracts are offered with terms ranging from one one Multiple element arrangements The Company has entered into a number of multiple element arrangements, such as the sale of a product or perpetual licenses that may may Revenue is allocated to each deliverable based on the fair value of each individual element and is recognized when the revenue recognition criteria described above are met, except for time-based licenses which are not The Company disaggregates revenue by reporting segment (Hardware and Software) and geographically to depict the nature of revenue in a manner consistent with our business operations and to be consistent with other communications and public filings. Refer to Note 19, 20, Contract Assets and Liabilities The Company enters into contracts to sell products and provide services and recognizes contract assets and liabilities that arise from these transactions. The Company recognizes revenue and corresponding accounts receivable according to ASC 606 may may September 30, 2021 September 30, 2020, September 30, 2021 2020. 11, The Company’s contract liabilities are as follows: Customer deposits Deferred revenue Total contract liabilities Balance at September 30, 2020 $ 3,683 $ 1,024 $ 4,707 New performance obligations 15,511 1,899 17,410 Recognition of revenue as a result of satisfying performance obligations (10,493 ) (1,503 ) (11,996 ) Effect of exchange rate on deferred revenue - 8 8 Balance at September 30, 2021 $ 8,701 $ 1,428 $ 10,129 Less: non-current portion - (308 ) (308 ) Current portion at September 30, 2021 $ 8,701 $ 1,120 $ 9,821 Remaining Performance Obligations Remaining performance obligations related to ASC 606 one As of September 30, 2021, Practical Expedients In cases where the Company is responsible for shipping after the customer has obtained control of the goods, the Company has elected to treat these activities as fulfillment activities rather than as a separate performance obligation. Additionally, the Company has elected to capitalize the cost to obtain a contract only if the period of amortization would be longer than one one |
Note 6 - Fair Value Measurement
Note 6 - Fair Value Measurements | 12 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 6. The Company’s financial instruments consist principally of cash equivalents, short and long-term marketable securities, accounts receivable, and accounts payable. The fair value of a financial instrument is the amount that would be received in an asset sale or paid to transfer a liability in an orderly transaction between unaffiliated market participants. Assets and liabilities measured at fair value are categorized based on whether or not three 3 Level 1: Inputs are based on quoted market prices for identical assets or liabilities in active markets at the measurement date. Level 2: Inputs include quoted prices for similar assets or liabilities in active markets and/or quoted prices for identical or similar assets or liabilities in markets that are not Level 3: Inputs include management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. The inputs are unobservable in the market and significant to the instrument’s valuation. The fair value of the Company’s cash equivalents and marketable securities were determined based on Level 1 2 2” not 3 September 30, 2021 September 30, 2020. no 1, 2, 3 no September 30, 2021 2020. Instruments Measured at Fair Value on a Recurring Basis Cash equivalents and marketable securities September 30, 2021 2020. September 30, 2021 Cost Basis Unrealized Gain (Loss) Fair Value Cash Equivalents Short-term Securities Long-term Securities Level 1: Money Market Funds $ 932 $ - $ 932 $ 932 $ - $ - Level 2: Certificates of deposit 1,494 - 1,494 - 694 800 Municipal securities 5,139 (1 ) 5,138 - 4,205 933 Corporate bonds 928 1 929 - 787 142 Subtotal 7,561 - 7,561 - 5,686 1,875 Total $ 8,493 $ - $ 8,493 $ 932 $ 5,686 $ 1,875 September 30, 2020 Cost Basis Unrealized Gain Fair Value Cash Equivalents Short-term Securities Long-term Securities Level 1: Money Market Funds $ 365 $ - $ 365 $ 365 $ - $ - Level 2: Certificates of deposit 1,195 - 1,195 - - 1,195 Municipal securities 3,777 4 3,781 - 2,431 1,350 Corporate bonds 3,091 3 3,094 - 1,834 1,260 Subtotal 8,063 7 8,070 - 4,265 3,805 Total $ 8,428 $ 7 $ 8,435 $ 365 $ 4,265 $ 3,805 Instruments measured at Fair Value on a Non-Recurring Basis Nonfinancial assets Goodwill and intangible assets are recognized at fair value during the period in which an acquisition is completed, from updated estimates during the measurement period, or when they are considered to be impaired. These non-recurring fair value measurements, primarily for intangible assets acquired, were based on Level 3 The following table presents nonfinancial assets that were subject to fair value measurement during the twelve September 30, 2021. no twelve September 30, 2020. Carrying Value Level 1 Level 2 Level 3 Goodwill from Zonehaven acquisition $ 15,538 $ - $ - $ 15,538 Intangible assets from Zonehaven acquisition $ 9,594 $ - $ - $ 9,594 Goodwill from Amika Mobile asset purchase $ 5,853 $ - $ - $ 5,853 Intangibles from Amika Mobile asset purchase $ 2,531 $ - $ - $ 2,531 Operating lease ROU asset from Amika Mobile asset purchase $ 248 $ - $ - $ 248 Holdback liability from Amika Mobile asset purchase $ 687 $ - $ - $ 687 Holdback Liability third CAD$1,000 USD$787 three Balance at acquisition date $ 613 Accretion 46 Currency translation 28 Balance at September 30, 2021 $ 687 Foreign currency forward contract August 2020, September 30, 2020, CAD$6,955 October 2020. 2 October 1, 2020, CAD$6,955 USD$5,281 September 30, 2020. |
Note 7 - Inventories
Note 7 - Inventories | 12 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 7. Inventories consisted of the following: September 30, 2021 2020 Raw materials $ 5,449 $ 5,220 Finished goods 842 841 Work in process 877 456 Inventories, gross 7,168 6,517 Reserve for obsolescence (752 ) (568 ) Inventories, net $ 6,416 $ 5,949 |
Note 8 - Property and Equipment
Note 8 - Property and Equipment | 12 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 8. Property and equipment consisted of the following: September 30, 2021 2020 Office furniture and equipment $ 1,261 $ 1,181 Machinery and equipment 1,270 1,184 Leasehold improvements 2,154 2,056 Construction in progress - 8 Property and equipment, gross 4,685 4,429 Accumulated depreciation (2,930 ) (2,499 ) Property and equipment, net $ 1,755 $ 1,930 Years ended September 30, 2021 2020 Depreciation expense $ 406 $ 498 |
Note 9 - Goodwill and Intangibl
Note 9 - Goodwill and Intangible Assets | 12 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 9. Goodwill is attributable to the acquisitions of Genasys Spain and Zonehaven, and the Amika Mobile asset purchase and is due to combining the integrated emergency critical communications, mass messaging solutions and software development capabilities with existing hardware products for enhanced offerings and the skill level of the acquired workforces. The Company periodically reviews goodwill for impairment in accordance with relevant accounting standards. During the year ended September 30, 2021, September 30, 2021 September 30, 2020, September 30, 2021 2020. Intangible assets and goodwill related to Genasys Spain are translated from Euro to U.S. dollars at the balance sheet date. The net impact of foreign currency exchange differences arising during the period related to goodwill and intangible assets was a decrease of $32. Intangible assets and goodwill related to Amika Mobile are translated from Canadian dollars to U.S. dollars at the balance sheet date. The net impact of foreign currency exchange differences arising during the year ended September 30, 2021, September 30, 2021, The changes in the carrying amount of goodwill by segment for the year ended September 30, 2021, Hardware Software Total Balance as of September 30, 2020 $ - $ 2,472 $ 2,472 Acquisitions - 21,128 21,128 Currency translation - 234 234 Balance as of September 30, 2021 $ - $ 23,834 $ 23,834 The Company’s intangible assets consisted of the following: September 30, 2021 2020 Technology $ 12,065 $ 655 Customer relationships 1,855 627 Trade name portfolio 625 228 Non-compete agreements 244 247 Patents 72 72 14,861 1,829 Accumulated amortization (2,057 ) (886 ) $ 12,804 $ 943 The changes in the carrying amount of intangible assets by segment for the year ended September 30, 2021, Hardware Software Total Balance as of September 30, 2020 $ 29 $ 914 $ 943 Acquisitions - 12,920 12,920 Amortization (4 ) (1,187 ) (1,191 ) Currency translation - 132 132 Balance as of September 30, 2021 $ 25 $ 12,779 $ 12,804 Years ended September 30, 2021 2020 Amortization expense $ 1,191 $ 302 Estimated amortization expense for the fiscal year ending September 30, 2022 2,169 2023 2,137 2024 2,123 2025 1,995 2026 1,855 Thereafter 2,525 Total estimated amortization expense $ 12,804 |
Note 10 - Prepaid Expenses and
Note 10 - Prepaid Expenses and Other | 12 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Prepaid Expenses And Other Disclosure [Text Block] | 10. September 30, 2021 2020 Deposits for inventory $ 997 $ 54 Prepaid insurance 395 264 Dues and subscriptions 213 151 Prepaid professional services 158 - Prepaid commissions 82 - Trade shows and travel 95 103 Other 315 288 $ 2,255 $ 860 Deposits for inventory Deposits for inventory consisted of cash payments to vendors for inventory to be delivered in the future. Prepaid insurance Prepaid insurance consisted of premiums paid for health, commercial and corporate insurance. These premiums are amortized on a straight-line basis over the term of the agreements. Dues and subscriptions Dues and subscriptions consist of payments made in advance for software subscriptions and trade and professional organizations. These payments are amortized on a straight-line basis over the term of the agreements. Prepaid professional services Prepaid professional services consist of payments made in advance for services such as accounting and legal services. Prepaid commissions Prepaid commissions represent the current portion of sales commissions paid in connection with obtaining a contract with a customer. These costs are deferred and are amortized on a straight-line basis over the period of benefit, which is four Trade shows and travel Trade shows and travel consists of payments made in advance for trade show events. |
Note 11 - Accrued and Other Lia
Note 11 - Accrued and Other Liabilities | 12 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Current and Noncurrent Accrued Liabilities [Text Block] | 11. Accrued liabilities consisted of the following: September 30, 2021 2020 Payroll and related $ 3,726 $ 2,545 Deferred revenue 1,120 731 Customer deposits 8,701 3,683 Accrued contract costs 416 719 Warranty reserve 146 126 Other 2 76 Total $ 14,111 $ 7,880 Other liabilities - noncurrent consisted of the following: September 30, 2021 2020 Deferred extended warranty revenue $ 308 $ 293 Asset purchase holdback liability 687 - Total $ 995 $ 293 Payroll and related Accrued payroll and related consisted primarily of accrued bonus, accrued vacation, accrued sales commissions and benefits. Deferred revenue Deferred revenue as of September 30, 2021 September 30, 2022. Customer deposits Customer deposits represent amounts paid by customers as a down payment on hardware orders to be delivered during the year ended September 30, 2022. Accrued contract costs Accrued contract costs consist of accrued expenses for contracting a third September 30, 2011. May 2019 May 2024. Warranty reserve Details of the estimated warranty reserve were as follows: September 30, 2021 2020 Beginning balance $ 126 $ 150 Warranty provision 56 16 Warranty settlements (36 ) (40 ) Ending balance $ 146 $ 126 The Company establishes a warranty reserve based on anticipated warranty claims at the time product revenue is recognized. Factors affecting warranty reserve levels include the number of units sold, anticipated cost of warranty repairs and anticipated rates of warranty claims. The Company evaluates the adequacy of the provision for warranty costs each reporting period and adjusts the accrued warranty liability to an amount equal to estimated warranty expense for products currently under warranty. Deferred extended warranty revenue Deferred extended warranty revenue consists of warranties purchased in excess of the Company’s standard warranty. Extended warranties typically range from one two Asset purchase holdback liability In connection with the Amika Mobile asset purchase, the Company recorded a holdback liability related to potential future adjustments to assets and liabilities, misrepresentations and indemnifications against third CAD$1,000 USD$787 three |
Note 12 - Debt
Note 12 - Debt | 12 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 12. In connection with the acquisition of Genasys Spain the Company assumed certain debts of Genasys Spain. The balances of the acquired debt consist of loans with governmental agencies as of September 30, 2021. September 30, 2021 Agency Due Date Principal Ministry of Economy and Competitiveness February 2, 2022 $ 17 Ministry of Economy and Competitiveness February 2, 2024 279 (a) $ 296 (a) This loan is secured by $279 of cash pledged as collateral by Genasys Spain, which is the current balance of the loan. This amount represents 66.6% of the original principal received. This amount is included in restricted cash as of September 30, 2021. twelve twelve September 30, 2021. The changes in the carrying amount of debt for the year ended September 30, 2021, Balance as of September 30, 2020 $ 318 Payments (19 ) Currency translation (3 ) Balance as of September 30, 2021 $ 296 The following is a schedule of future annual payments as of September 30, 2021: 2022 $ 296 Total $ 296 Revolving line of credit On March 8, 2021, no March 31, 2023. September 30, 2021, |
Note 13 - Leases
Note 13 - Leases | 12 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 13. The Company determines if an arrangement is a lease at inception. The guidance in Topic 842 not The Company is party to operating leases for office and production facilities and equipment under agreements that expire at various dates through 2028. not 842. one twelve not For leases beginning on or after October 1, 2019, not not not not 10% not Upon adoption of Topic 842 October 1, 2019, no 842. 842 not During the year ended September 30, 2021, September 30, 2020, September 30, 2021, Operating ROU assets Operating lease ROU asset at September 30, 2020 $ 5,285 Additional operating lease ROU assets 259 Less amortization of operating lease ROU assets (694 ) Effect of exchange rate on operating lease ROU assets 12 Operating lease ROU assets at September 30, 2021 $ 4,862 Operating lease liabilities Operating lease liabilities at September 30, 2020 $ 7,166 Additional operating lease liabilities 259 Less lease principal payments on operating lease liabilities (829 ) Effect of exchange rate on operating lease liabilities 12 Operating lease liabilities at September 30, 2021 6,608 Less non-current portion (5,709 ) Current portion at September 30, 2021 $ 899 As of September 30, 2021, Fiscal year ending September 30, 2022 $ 1,151 2023 1,089 2024 1,084 2025 1,057 2026 1,069 Thereafter 2,139 Total undiscounted operating lease payments 7,589 Less imputed interest (981 ) Present value of operating lease liabilities $ 6,608 For the years ended September 30, 2021 2020, September 30, 2021, not September 30, 2020. |
Note 14 - Income Taxes
Note 14 - Income Taxes | 12 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 14. Income taxes consisted of the following: Years ended September 30, 2021 2020 Current tax provision Federal $ - $ - State 1 2 Total current tax provision 1 2 Deferred provision Federal 368 (4,852 ) State 65 (856 ) Total deferred provision 433 (5,708 ) Provision (benefit) for income taxes $ 434 $ (5,706 ) A reconciliation of income taxes at the federal statutory rate of 21% to the effective tax rate was as follows: Years ended September 30, 2021 2020 Income taxes computed at the federal statutory rate $ 239 $ 1,296 Change in valuation allowance 435 (7,134 ) Nondeductible compensation, interest expense and other 57 24 State income taxes, net of federal tax benefit 210 364 Change in R&D credit carryover 19 (219 ) Stock options and other prior year true-ups (175 ) (7 ) Foreign rate differential (117 ) (21 ) State business credit utilization (234 ) (9 ) Provision (benefit) for income taxes $ 434 $ (5,706 ) The types of temporary differences between the tax basis of assets and liabilities and their approximate tax effects that give rise to a significant portion of the net deferred tax asset as of September 30, 2021 2020 At September 30, 2021 2020 Deferred tax assets Net operating loss carryforwards $ 11,769 $ 11,985 Research and development credit 5,479 5,686 Share-based compensation 538 317 Patents 8 15 Accruals and other 2,487 2,526 Allowances 237 183 Gross deferred tax asset 20,518 20,712 Deferred tax liabilities Equipment (352 ) (405 ) Operating ROU assets (1,222 ) (1,334 ) Acquired intangible assets (2,592 ) - Gross deferred tax liabilities (4,166 ) (1,739 ) Less valuation allowance (8,313 ) (7,878 ) Total deferred tax assets, net of valuation allowance $ 8,039 $ 11,095 As of September 30, 2021, September 30, 2021, 2023 2037, September 30, 2021, The Company reviews its ability to realize its deferred tax assets on a quarterly basis. In doing so, management considers historical and projected taxable income of the Company, along with any tax planning strategies and any other positive or negative evidence. Realization is dependent on generating sufficient taxable income prior to the expiration of the loss carryforwards and other deferred assets. The Company expects to utilize the deferred tax asset in the future, except for those related to federal R&D tax credit carryforwards and net operating loss carryforwards, R&D credits and foreign tax credits related to Genasys Spain and Genasys Canada and continues to maintain a partial allowance of $8.313. may may As of September 30, 2021, no The Company is subject to taxation in the U.S. and various state jurisdictions. All of the Company’s historical tax years are subject to examination by the Internal Revenue Service and various state jurisdictions due to the generation of NOL and credit carryforwards. |
Note 15 - Commitments and Conti
Note 15 - Commitments and Contingencies | 12 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 15. Leases The Company leases office equipment and operating facilities. During the year ended September 30, 2019, October 1, 2019, 842 12 13, Employment Agreements The Company entered into an employment agreement with our chief executive officer that provides for severance benefits including twelve There were no Bonus Plan The Company has a bonus plan for employees, in accordance with their terms of employment, whereby they can earn a percentage of their salary based on meeting targeted objectives for orders received, revenue, operating income, and operating cash flow. For the year ended September 30, 2021, September 30, 2020, Employee Benefit 401K The Company has a defined contribution plan ( 401 September 30, 2021 2020, Litigation The Company may Amika Mobile asset purchase In connection with the Amika Mobile asset purchase, the Company recorded a holdback liability related to potential future adjustments to assets and liabilities, misrepresentations and indemnifications against third CAD$1,000 USD$787 three The Company also agreed to issue 191,267 shares of the Company’s common stock to the seller of the Amika Mobile assets on each of the first, second third September 30, 2021, Guarantees and Indemnifications The Company enters into indemnification provisions under (i) its agreements with other companies in its ordinary course of business, typically with business partners, contractors, customers and landlords and (ii) its agreements with investors. Under these arrangements, the Company may third may not may not no September 30, 2021 2020. Under its bylaws, the Company has agreed to indemnify its officers and directors for certain events or occurrences arising as a result of the officer or director serving in such capacity. All directors and officers have executed indemnification agreements. The term of the indemnification period is for the officer or director’s lifetime. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited. However, the Company has a director and officers’ liability insurance policy that limits its exposure and enables it to recover a portion of any future amounts paid. As a result of its insurance policy coverage, the Company does not no September 30, 2021 2020. |
Note 16 - Share-based Compensat
Note 16 - Share-based Compensation | 12 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 16. Stock Option Plans As of September 30, 2021, two 2005 “2005 March 2015 2015 “2015 December 6, 2016 March 14, 2017. 2015 December 8, 2020, March 16, 2021, 2015 September 30, 2021, 2005 2015 two Share-Based Compensation The Company’s stock options have various restrictions that reduce option value, including vesting provisions and restrictions on transfer and hedging, among others, and are often exercised prior to their contractual maturity. There were 295,000 options granted during the year ended September 30, 2021 September 30, 2020. September 30, 2021 2020, Years ended September 30, 2021 2020 Volatility 48.5 % 44.5 % Risk-free interest rate 0.7 % 1.4 % Dividend yield 0.0 % 0.0 % Expected term in years 6.5 5.4 Expected volatility is based on the historical volatility of the Company’s common stock over the period commensurate with the expected term of the options. The risk-free interest rate is based on rates published by the Federal Reserve Board. The contractual term of the options was seven not 2021 2020. As of September 30, 2021, Performance-Based Stock Options On August 1, 2016, seven 2019 2020. 2019 2020 The Company determined that certain performance conditions related to the 2019 2020 2019 2020 September 30, 2020, On October 4, 2019, seven 2022 2023 not The Company did not September 30, 2021. Restricted Stock Units During fiscal 2018, three first three three During fiscal 2019, three first three three On March 10, 2020, first March 10, 2021 2020, three three On March 16, 2021, first March 16, 2022 2021, three three June 7, 2021, June 30, 2021. September 1, 2021, two March 16, 2022. March 16, 2022 Compensation expense for RSUs was $1,130 for the year ended September 30, 2021. September 30, 2020. Restricted Stock Unit Summary Information A summary of restricted stock units of the Company as September 30, 2021 Number of Shares Weighted Average Grant Date Fair Value Outstanding September 30, 2020 303,014 $ 2.82 Granted 325,365 $ 7.06 Released (228,633 ) $ 2.83 Forfeited/cancelled (277 ) $ 2.26 Outstanding September 30, 2021 399,469 $ 6.27 Stock Option Summary Information A summary of the activity in options to purchase the capital stock of the Company as of September 30, 2021 Number of Shares Weighted Average Exercise Price Outstanding September 30, 2020 2,659,305 $ 2.56 Granted 295,000 $ 6.71 Forfeited/expired (104,125 ) $ 2.57 Exercised (104,796 ) $ 2.01 Outstanding September 30, 2021 2,745,384 $ 3.02 Exerciseable September 30, 2021 1,541,176 $ 2.24 The aggregate intrinsic value for options outstanding and options exercisable as of September 30, 2021 September 30, 2021 September 30, 2020 September 30, 2021 2020, The following table summarizes information about stock options outstanding as of September 30, 2021: Weighted Average Weighted Average Weighted Average Range of Number Remaining Exercise Number Exercise Exercise Prices Outstanding Contractual Term Price Exercisable Price $1.31 - $1.86 324,157 2.00 $ 1.64 324,157 $ 1.64 $1.99 - $1.99 937,500 2.44 $ 1.99 937,500 $ 1.99 $2.16 - $3.17 65,000 0.37 $ 2.48 65,000 $ 2.48 $3.39 - $3.40 1,133,727 5.09 $ 3.39 166,863 $ 3.40 $5.05 - $8.03 285,000 6.30 $ 6.66 47,656 $ 6.87 2,745,384 3.83 $ 3.02 1,541,176 $ 2.24 The Company recorded $294 and $396 of stock option compensation expense for employees, directors and consultants for the years ended September 30, 2021, 2020, The amounts of share-based compensation expense for restricted stock units and stock options are classified in the Consolidated Statements of Operations as follows: Year ended September 30, 2021 2020 Cost of revenues $ 40 $ 20 Selling, general and administrative 1,344 939 Research and development 40 21 $ 1,424 $ 980 |
Note 17 - Stockholders' Equity
Note 17 - Stockholders' Equity | 12 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 17. EQUITY Common Stock Activity On March 18, 2021, March 16, 2021. During the year ended September 30, 2021, September 30, 2020, September 30, 2021, September 30, 2020, In connection with the Amika Mobile asset purchase, the Company agreed to issue 191,267 shares of the Company’s common stock to the former owner of the Amika Mobile assets on each of the first, second third September 30, 2021, In connection with the Zonehaven acquisition, the Company issued 2,165,824 shares of the Company’s common stock to the former owners of Zonehaven. The fair value of the Company’s stock on the closing date was $5.05, resulting in the addition of $10,938 to additional-paid-in-capital. Preferred Stock The Company is authorized under its certificate of incorporation and bylaws to issue 5,000,000 shares of preferred stock, $0.00001 par value, without any further action by the stockholders. The board of directors has the authority to divide any and all shares of preferred stock into series and to fix and determine the relative rights and preferences of the preferred stock, such as the designation of series and the number of shares constituting such series, dividend rights, redemption and sinking fund provisions, liquidation and dissolution preferences, conversion or exchange rights and voting rights, if any. Issuance of preferred stock by the board of directors could result in such shares having dividend and or liquidation preferences senior to the rights of the holders of common stock and could dilute the voting rights of the holders of common stock. No shares of preferred stock were outstanding during the fiscal years ended September 30, 2021 2020. Share Buyback Program In December 2018, January 1, 2019 December 31, 2020, December 2020, December 31, 2022. December 31, 2018. There were no shares repurchased during the year ended September 30, 2021. September 30, 2020, September 30, 2021, September 30, 2021, |
Note 18 - Net Income Per Share
Note 18 - Net Income Per Share | 12 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 18. Basic earnings per share are computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing net income by the weighted average number of shares of common stock outstanding during the period increased to include the number of dilutive potential common shares outstanding during the period. The dilutive effect of outstanding stock options is reflected in diluted earnings per share by application of the treasury stock method, which assumes that the proceeds from the exercise of the outstanding options are used to repurchase common stock at market value. Under the treasury stock method, an increase in the fair market value of the Company’s common stock can result in a greater dilutive effect from potentially dilutive securities. If the Company has losses for the period, the inclusion of potential common stock instruments outstanding would be anti-dilutive. In addition, under the treasury stock method, the inclusion of stock options with an exercise price greater than the per-share market value would be antidilutive. Potential common shares that would be antidilutive are excluded from the calculation of diluted income per share. The following table sets forth the computation of basic and diluted earnings per share: Years Ended September 30, 2021 2020 Net income $ 704 $ 11,874 Basic income per share $ 0.02 $ 0.36 Diluted income per share $ 0.02 $ 0.35 Weighted average shares outstanding - basic 34,409,478 33,220,915 Assumed exercise of dilutive options 1,179,670 871,413 Weighted average shares outstanding - diluted 35,589,148 34,092,328 Potentially diluted securities outstanding at period end excluded from diluted computation as the inclusion would have been antidilutive: Options 1,035,000 893,750 RSU - - Obligation to issue common stock 208,692 - Total 1,243,692 893,750 |
Note 19 - Segment Information
Note 19 - Segment Information | 12 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 19. The Company is engaged in the design, development and commercialization of critical communications hardware and software solutions designed to alert, inform, and protect. The Company operates in two business segments: Hardware and Software and its principal markets are North and South America, Europe, the Middle East and Asia. As reviewed by the Company’s chief operating decision maker, the Company evaluates the performance of each segment based on sales and operating income. Cash and cash equivalents, marketable securities, accounts receivable, inventory, property and equipment, deferred tax assets, goodwill and intangible assets are primary assets identified by segment. The accounting policies for segment reporting are the same for the Company as a whole and transactions between the two operating segments are not The following table presents the Company’s segment disclosures: Year ended September 30, 2021 2020 Revenue from external customers Hardware $ 44,233 $ 41,395 Software 2,770 1,615 $ 47,003 $ 43,010 Intersegment revenues Hardware $ - $ - Software 1,823 1,692 $ 1,823 $ 1,692 Segment operating income (loss) Hardware $ 7,871 $ 8,771 Software (6,787 ) (2,730 ) $ 1,084 $ 6,041 Other expenses: Depreciation and amortization expense Hardware $ 375 $ 483 Software 1,222 317 $ 1,597 $ 800 Income tax expense (benefit) Hardware $ 434 $ (5,706 ) Software - - $ 434 $ (5,706 ) September 30, 2021 2020 Long-lived assets Hardware $ 1,748 $ 1,924 Software 36,645 3,421 $ 38,393 $ 5,345 Total assets Hardware $ 50,364 $ 61,152 Software 39,764 5,015 $ 90,128 $ 66,167 |
Note 20 - Major Customers, Supp
Note 20 - Major Customers, Suppliers and Related Information | 12 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 20. Major Customers For the fiscal year ended September 30, 2021, no 10% September 30, 2020, no 10% September 30, 2021, September 30, 2020, Revenue from customers in the United States was $37,888 for the year ended September 30, 2021. September 30, 2020. Years ended September 30, 2021 2020 Americas $ 39,064 $ 34,815 Asia Pacific 4,470 5,716 Europe, Middle East and Africa 3,469 2,479 Total Revenues $ 47,003 $ 43,010 The following table summarized long lived assets by geographic region. Year ended September 30, 2021 2020 United States $ 26,880 $ 1,924 Americas (excluding the United States) 8,395 - Asia Pacific - - Europe, Middle East and Africa 3,118 3,421 $ 38,393 $ 5,345 Suppliers The Company has a large number of components and sub-assemblies produced by outside suppliers, some of which are sourced from a single supplier, which can magnify the risk of shortages and decrease the Company’s ability to negotiate with suppliers on the basis of price. In particular, the Company depends on one |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | PRINCIPLES OF CONSOLIDATION The Company has eight |
Use of Estimates, Policy [Policy Text Block] | USE OF ESTIMATES The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions (e.g., share-based compensation valuation, allowance for doubtful accounts, valuation of inventory and intangible assets, warranty reserve, accrued bonus and valuation allowance related to deferred tax assets) that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and affect the reported amounts of revenues and expenses during the reporting periods. Actual results could materially differ from those estimates. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | CONCENTRATION OF CREDIT RISK The Company sells its products to a large number of geographically diverse customers. The Company routinely assesses the financial strength of its customers. It is customary for the Company to require a deposit as collateral. As of September 30, 2021, no 10% September 30, 2020, no 10% The Company maintains cash and cash equivalent bank deposit accounts which, at times, may not one no three no |
Cash and Cash Equivalents, Policy [Policy Text Block] | CASH, CASH EQUIVALENTS AND RESTRICTED CASH The Company considers all highly liquid investments with an original maturity of three September 30, 2021 2020, The Company considers any amounts pledged as collateral or otherwise restricted for use in current operations to be restricted cash. In addition, the Company excludes from cash and cash equivalents cash required to fund specific future contractual obligations related to business combinations. Restricted cash is classified as a current asset unless amounts are not one September 30, 2021 2020, |
Marketable Securities, Policy [Policy Text Block] | MARKETABLE SECURITIES The Company accounts for investments in debt instruments as available-for-sale. Management determines the appropriate classification of such securities at the time of purchase and re-evaluates such classification as of each balance sheet date. Marketable securities are reported at fair value with the related unrealized gains and losses included in accumulated other comprehensive income. The realized gains and losses on marketable securities are determined using the specific identification method. |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | ACCOUNTS RECEIVABLE AND ALLOWANCE FOR DOUBTFUL ACCOUNTS The Company carries accounts receivable at historical cost, less an allowance for doubtful accounts. On a periodic basis, the Company evaluates accounts receivable and establishes an allowance for doubtful accounts for estimated losses considering the following factors when determining if collection of a receivable is probable: customer credit-worthiness, past transaction history with the customer, current economic industry trends and changes in customer payment terms. If the Company has no may may not no September 30, 2021 2020 September 30, 2021 2020, |
Contract Manufacturers, Policy [Policy Text Block] | CONTRACT MANUFACTURERS The Company employs contract manufacturers for production of certain components and sub-assemblies. The Company may no 2021 2020, |
Inventory, Policy [Policy Text Block] | INVENTORIES Inventories are valued at the lower of cost or net realizable value. Cost is determined using a standard cost system whereby differences between the standard cost and purchase price are recorded as a purchase price variance in cost of revenues. Inventory is comprised of raw materials, assemblies and finished products intended for sale . September 30, 2021 may not September 30, 2020 may not |
Property, Plant and Equipment, Policy [Policy Text Block] | EQUIPMENT AND DEPRECIATION Equipment is stated at cost. Depreciation on machinery and equipment and office furniture and equipment is computed over the estimated useful lives of two seven |
Business Combinations Policy [Policy Text Block] | BUSINESS COMBINATIONS The acquisition method of accounting for business combinations requires the Company to use significant estimates and assumptions, including fair value estimates, as of the business combination date and to refine those estimates as necessary during the measurement period (defined as the period, not one may Under the acquisition method of accounting the Company recognizes separately from goodwill the identifiable assets acquired, the liabilities assumed generally at the acquisition date fair value. The Company measures goodwill as of the acquisition date as the excess of consideration transferred, which the Company also measures at fair value, over the net of the acquisition date amounts of the identifiable assets acquired and liabilities assumed. Costs that the Company incurs to complete the business combination such as investment banking, legal and other professional fees are not Under the acquisition method of accounting for business combinations, if the Company identifies changes to acquired deferred tax asset valuation allowances or liabilities related to uncertain tax positions during the measurement period and they relate to new information obtained about facts and circumstances that existed as of the acquisition date, those changes are considered a measurement period adjustment and the Company records the offset to goodwill. The Company records all other changes to deferred tax asset valuation allowances and liabilities related to uncertain tax positions in current period income tax expense. Refer to Note 4, September 30, 2021. |
Goodwill and Intangible Assets, Policy [Policy Text Block] | GOODWILL AND INTANGIBLE ASSETS Identifiable intangible assets, which consist of technology, customer relationships, non-compete agreements, patents, tradenames and trademarks, are carried at cost less accumulated amortization. Intangible assets are amortized over their estimated useful lives, based on a number of assumptions including estimated periodic economic benefit and utilization. The estimated useful lives of identifiable intangible assets have been estimated to be between three fifteen Goodwill is recorded as the difference, if any, between the aggregate consideration paid for an acquisition and the fair value of the acquired net tangible and intangible assets acquired. The Company evaluates goodwill for impairment on an annual basis in our fiscal fourth not not not two not September 30, 2021. 9, |
Lessee, Leases [Policy Text Block] | LEASES The Company adopted Accounting Standards Codification (“ASC”) Topic 842, Leases 842” October 1, 2019. 842, 12 12 842. 13, |
Cost of Goods and Service, Shipping and Handling Costs, Policy [Policy Text Block] | SHIPPING AND HANDLING COSTS Shipping and handling costs are included in cost of revenues. Shipping and handling costs invoiced to customers are included in revenue. Actual shipping and handling costs were $232 and $259 for the fiscal years ended September 30, 2021 2020, September 30, 2021 2020, |
Advertising Cost [Policy Text Block] | ADVERTISING Advertising costs are charged to expense as incurred and were $193 and $263 for the years ended September 30, 2021 2020, |
Research and Development Expense, Policy [Policy Text Block] | RESEARCH AND DEVELOPMENT COSTS Research and development costs are expensed as incurred. |
Standard Product Warranty, Policy [Policy Text Block] | WARRANTY RESERVES The Company warrants its products to be free from defects in materials and workmanship for a period of one may The Company establishes a warranty reserve based on anticipated warranty claims at the time product revenues are recognized. Factors affecting warranty reserve levels include the number of units sold, anticipated cost of warranty repairs and anticipated rates of warranty claims. The Company evaluates the adequacy of the provision for warranty costs each reporting period. The warranty reserve was $146 and $126 as of September 30, 2021 2020, |
Income Tax, Policy [Policy Text Block] | INCOME TAXES The Company determines its income tax provision using the asset and liability method. Temporary differences are differences between the tax basis of assets and liabilities and their reported amounts in the financial statements that will result in taxable or deductible amounts in future years. A valuation allowance is recorded by the Company to the extent it is more likely than not not 14, |
Property, Plant and Equipment, Impairment [Policy Text Block] | IMPAIRMENT OF LONG-LIVED ASSETS Long-lived assets and finite-lived intangibles held for use are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not no September 30, 2021 September 30, 2020. 6, 9, |
Segment Reporting, Policy [Policy Text Block] | SEGMENT INFORMATION The Company is a global provider of critical communications hardware and software solutions designed to alert, inform, and protect. The Company operates in two business segments: Hardware and Software and its principal markets are North and South America, Europe, the Middle East and Asia. As reviewed by the Company’s chief operating decision maker, the Company evaluates the performance of each segment based on sales and operating income. Cash and cash equivalents, marketable securities, accounts receivable, inventory, property and equipment, deferred tax assets, goodwill and intangible assets are primary assets identified by segment. The accounting policies for segment reporting are the same for the Company as a whole and transactions between the two operating segments are eliminated in consolidation. Refer to Note 19, |
Earnings Per Share, Policy [Policy Text Block] | NET INCOME PER SHARE Basic net income per share is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted net income per share reflects the potential dilution of securities that could occur if outstanding securities convertible into common stock were exercised or converted. Refer to Note 18, |
Derivatives, Policy [Policy Text Block] | DERIVATIVES The Company does not 6, |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | FOREIGN CURRENCY TRANSLATION The Company’s reporting currency is U.S. dollars. The functional currency of the Company is the U.S. dollar. The functional currency of Genasys Spain is the Euro and the function currency of Genasys Canada is the Canadian dollar. The Company translates the assets and liabilities of Genasys Spain and Genasys Canada at the exchange rates in effect on the balance sheet date. The Company translates the revenue, costs and expenses of Genasys Spain and Genasys Canada at the average rates of exchange in effect during the period. The Company includes translation gains and losses in the stockholders’ equity section of the Company’s balance sheets in accumulated other comprehensive income or loss. Transactions undertaken in other currencies are translated using the exchange rate in effect as of the transaction date and any exchange gains and losses resulting from these transactions, are included in the statements of operations. The translation gain for the period was $260 resulting from transactions between Genasys U.S. and Genasys Spain and Genasys Communications Canada ULC, the timing of transactions in relation to changes in exchange rates and the fluctuation in the exchange rate between foreign currencies and the U.S. dollar. |
Share-based Payment Arrangement [Policy Text Block] | SHARE-BASED COMPENSATION The Company recognized share-based compensation expense related to qualified and non-qualified stock options issued to employees, directors and consultants over the expected vesting term of the stock-based instrument based on the grant date fair value. Forfeitures are estimated at the time of the grant and revised in subsequent periods if actual forfeitures differ from those estimates or if the Company updates its estimated forfeiture rate. Refer to Note 16, |
Immaterial Correction of Prior Period Financial Statements, Policy [Policy Text Block] | IMMATERIAL CORRECTION OF PRIOR PERIOD FINANCIAL STATEMENTS During the quarter ended December 31, 2020, September 30, 2020 no September 30, 2020, no September 30, 2021, first 2021. No. 99 No. 108 no September 30, 2021, September 30, 2020, September 30, 2020. |
Reclassification, Comparability Adjustment [Policy Text Block] | RECLASSIFICATIONS Where necessary, the prior year’s information has been reclassified to conform to the fiscal year 2021 no |
Subsequent Events, Policy [Policy Text Block] | SUBSEQUENT EVENTS Management evaluates events subsequent to September 30, 2021, no September 30, 2021. |
Note 4 - Business Combinations
Note 4 - Business Combinations (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Cash paid $ 11,481 Common stock issued 10,938 Shareholder representative reserve payable 150 $ 22,569 Cash paid $ 4,367 Acquisition holdback liability 613 Common stock to be issued 3,431 $ 8,411 |
Business Combination, Separately Recognized Transactions [Table Text Block] | Assets acquired Accounts receivable $ 120 Deferred tax asset 106 Intangible assets 10,100 Goodwill 15,538 Total assets acquired $ 25,864 Liabilities assumed Accounts payable $ 194 Accrued liabilities 372 Deferred tax liability 2,729 Total liabilities assumed 3,295 Net assets acquired $ 22,569 Assets Acquired Prepaid expenses $ 2 Property and equipment 22 Operating lease right of use asset 248 Intangible Assets 2,820 Goodwill 5,590 Total assets acquired $ 8,682 Liabilities assumed Accrued liabilities $ 23 Operating lease liability 248 Total liabilities assumed 271 Net Assets acquired $ 8,411 |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | Fair Value Estimated Useful Lives (in years) Developed Technology $ 8,800 7 Trade Names 400 5 Customer Relationships 900 5 $ 10,100 Fair Value Estimated Useful Lives (in years) Developed technology $ 2,500 7 Customer relationships 320 7 $ 2,820 |
Note 5 - Revenue Recognition (T
Note 5 - Revenue Recognition (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | Customer deposits Deferred revenue Total contract liabilities Balance at September 30, 2020 $ 3,683 $ 1,024 $ 4,707 New performance obligations 15,511 1,899 17,410 Recognition of revenue as a result of satisfying performance obligations (10,493 ) (1,503 ) (11,996 ) Effect of exchange rate on deferred revenue - 8 8 Balance at September 30, 2021 $ 8,701 $ 1,428 $ 10,129 Less: non-current portion - (308 ) (308 ) Current portion at September 30, 2021 $ 8,701 $ 1,120 $ 9,821 |
Note 6 - Fair Value Measureme_2
Note 6 - Fair Value Measurements (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | September 30, 2021 Cost Basis Unrealized Gain (Loss) Fair Value Cash Equivalents Short-term Securities Long-term Securities Level 1: Money Market Funds $ 932 $ - $ 932 $ 932 $ - $ - Level 2: Certificates of deposit 1,494 - 1,494 - 694 800 Municipal securities 5,139 (1 ) 5,138 - 4,205 933 Corporate bonds 928 1 929 - 787 142 Subtotal 7,561 - 7,561 - 5,686 1,875 Total $ 8,493 $ - $ 8,493 $ 932 $ 5,686 $ 1,875 September 30, 2020 Cost Basis Unrealized Gain Fair Value Cash Equivalents Short-term Securities Long-term Securities Level 1: Money Market Funds $ 365 $ - $ 365 $ 365 $ - $ - Level 2: Certificates of deposit 1,195 - 1,195 - - 1,195 Municipal securities 3,777 4 3,781 - 2,431 1,350 Corporate bonds 3,091 3 3,094 - 1,834 1,260 Subtotal 8,063 7 8,070 - 4,265 3,805 Total $ 8,428 $ 7 $ 8,435 $ 365 $ 4,265 $ 3,805 |
Fair Value Measurements, Nonrecurring [Table Text Block] | Carrying Value Level 1 Level 2 Level 3 Goodwill from Zonehaven acquisition $ 15,538 $ - $ - $ 15,538 Intangible assets from Zonehaven acquisition $ 9,594 $ - $ - $ 9,594 Goodwill from Amika Mobile asset purchase $ 5,853 $ - $ - $ 5,853 Intangibles from Amika Mobile asset purchase $ 2,531 $ - $ - $ 2,531 Operating lease ROU asset from Amika Mobile asset purchase $ 248 $ - $ - $ 248 Holdback liability from Amika Mobile asset purchase $ 687 $ - $ - $ 687 |
Holdback Liability [Member] | |
Notes Tables | |
Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis [Table Text Block] | Balance at acquisition date $ 613 Accretion 46 Currency translation 28 Balance at September 30, 2021 $ 687 |
Note 7 - Inventories (Tables)
Note 7 - Inventories (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | September 30, 2021 2020 Raw materials $ 5,449 $ 5,220 Finished goods 842 841 Work in process 877 456 Inventories, gross 7,168 6,517 Reserve for obsolescence (752 ) (568 ) Inventories, net $ 6,416 $ 5,949 |
Note 8 - Property and Equipme_2
Note 8 - Property and Equipment (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | September 30, 2021 2020 Office furniture and equipment $ 1,261 $ 1,181 Machinery and equipment 1,270 1,184 Leasehold improvements 2,154 2,056 Construction in progress - 8 Property and equipment, gross 4,685 4,429 Accumulated depreciation (2,930 ) (2,499 ) Property and equipment, net $ 1,755 $ 1,930 |
Depreciation Expense [Member] | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | Years ended September 30, 2021 2020 Depreciation expense $ 406 $ 498 |
Note 9 - Goodwill and Intangi_2
Note 9 - Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | Hardware Software Total Balance as of September 30, 2020 $ - $ 2,472 $ 2,472 Acquisitions - 21,128 21,128 Currency translation - 234 234 Balance as of September 30, 2021 $ - $ 23,834 $ 23,834 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | September 30, 2021 2020 Technology $ 12,065 $ 655 Customer relationships 1,855 627 Trade name portfolio 625 228 Non-compete agreements 244 247 Patents 72 72 14,861 1,829 Accumulated amortization (2,057 ) (886 ) $ 12,804 $ 943 Years ended September 30, 2021 2020 Amortization expense $ 1,191 $ 302 |
Schedule of Changes in Finite Lived Intangible Assets [Table Text Block] | Hardware Software Total Balance as of September 30, 2020 $ 29 $ 914 $ 943 Acquisitions - 12,920 12,920 Amortization (4 ) (1,187 ) (1,191 ) Currency translation - 132 132 Balance as of September 30, 2021 $ 25 $ 12,779 $ 12,804 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2022 2,169 2023 2,137 2024 2,123 2025 1,995 2026 1,855 Thereafter 2,525 Total estimated amortization expense $ 12,804 |
Note 10 - Prepaid Expenses an_2
Note 10 - Prepaid Expenses and Other (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | September 30, 2021 2020 Deposits for inventory $ 997 $ 54 Prepaid insurance 395 264 Dues and subscriptions 213 151 Prepaid professional services 158 - Prepaid commissions 82 - Trade shows and travel 95 103 Other 315 288 $ 2,255 $ 860 |
Note 11 - Accrued and Other L_2
Note 11 - Accrued and Other Liabilities (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | September 30, 2021 2020 Payroll and related $ 3,726 $ 2,545 Deferred revenue 1,120 731 Customer deposits 8,701 3,683 Accrued contract costs 416 719 Warranty reserve 146 126 Other 2 76 Total $ 14,111 $ 7,880 |
Other Noncurrent Liabilities [Table Text Block] | September 30, 2021 2020 Deferred extended warranty revenue $ 308 $ 293 Asset purchase holdback liability 687 - Total $ 995 $ 293 |
Schedule of Product Warranty Liability [Table Text Block] | September 30, 2021 2020 Beginning balance $ 126 $ 150 Warranty provision 56 16 Warranty settlements (36 ) (40 ) Ending balance $ 146 $ 126 |
Note 12 - Debt (Tables)
Note 12 - Debt (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Loans With Governmental Agencies [Table Text Block] | Agency Due Date Principal Ministry of Economy and Competitiveness February 2, 2022 $ 17 Ministry of Economy and Competitiveness February 2, 2024 279 (a) $ 296 |
Schedule of Debt [Table Text Block] | Balance as of September 30, 2020 $ 318 Payments (19 ) Currency translation (3 ) Balance as of September 30, 2021 $ 296 |
Schedule of Maturities of Long-term Debt [Table Text Block] | 2022 $ 296 Total $ 296 |
Note 13 - Leases (Tables)
Note 13 - Leases (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Initial Measurement of Operating Lease [Table Text Block] | Operating ROU assets Operating lease ROU asset at September 30, 2020 $ 5,285 Additional operating lease ROU assets 259 Less amortization of operating lease ROU assets (694 ) Effect of exchange rate on operating lease ROU assets 12 Operating lease ROU assets at September 30, 2021 $ 4,862 Operating lease liabilities Operating lease liabilities at September 30, 2020 $ 7,166 Additional operating lease liabilities 259 Less lease principal payments on operating lease liabilities (829 ) Effect of exchange rate on operating lease liabilities 12 Operating lease liabilities at September 30, 2021 6,608 Less non-current portion (5,709 ) Current portion at September 30, 2021 $ 899 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Fiscal year ending September 30, 2022 $ 1,151 2023 1,089 2024 1,084 2025 1,057 2026 1,069 Thereafter 2,139 Total undiscounted operating lease payments 7,589 Less imputed interest (981 ) Present value of operating lease liabilities $ 6,608 |
Note 14 - Income Taxes (Tables)
Note 14 - Income Taxes (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Years ended September 30, 2021 2020 Current tax provision Federal $ - $ - State 1 2 Total current tax provision 1 2 Deferred provision Federal 368 (4,852 ) State 65 (856 ) Total deferred provision 433 (5,708 ) Provision (benefit) for income taxes $ 434 $ (5,706 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Years ended September 30, 2021 2020 Income taxes computed at the federal statutory rate $ 239 $ 1,296 Change in valuation allowance 435 (7,134 ) Nondeductible compensation, interest expense and other 57 24 State income taxes, net of federal tax benefit 210 364 Change in R&D credit carryover 19 (219 ) Stock options and other prior year true-ups (175 ) (7 ) Foreign rate differential (117 ) (21 ) State business credit utilization (234 ) (9 ) Provision (benefit) for income taxes $ 434 $ (5,706 ) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | At September 30, 2021 2020 Deferred tax assets Net operating loss carryforwards $ 11,769 $ 11,985 Research and development credit 5,479 5,686 Share-based compensation 538 317 Patents 8 15 Accruals and other 2,487 2,526 Allowances 237 183 Gross deferred tax asset 20,518 20,712 Deferred tax liabilities Equipment (352 ) (405 ) Operating ROU assets (1,222 ) (1,334 ) Acquired intangible assets (2,592 ) - Gross deferred tax liabilities (4,166 ) (1,739 ) Less valuation allowance (8,313 ) (7,878 ) Total deferred tax assets, net of valuation allowance $ 8,039 $ 11,095 |
Note 16 - Share-based Compens_2
Note 16 - Share-based Compensation (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Years ended September 30, 2021 2020 Volatility 48.5 % 44.5 % Risk-free interest rate 0.7 % 1.4 % Dividend yield 0.0 % 0.0 % Expected term in years 6.5 5.4 |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Number of Shares Weighted Average Grant Date Fair Value Outstanding September 30, 2020 303,014 $ 2.82 Granted 325,365 $ 7.06 Released (228,633 ) $ 2.83 Forfeited/cancelled (277 ) $ 2.26 Outstanding September 30, 2021 399,469 $ 6.27 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Number of Shares Weighted Average Exercise Price Outstanding September 30, 2020 2,659,305 $ 2.56 Granted 295,000 $ 6.71 Forfeited/expired (104,125 ) $ 2.57 Exercised (104,796 ) $ 2.01 Outstanding September 30, 2021 2,745,384 $ 3.02 Exerciseable September 30, 2021 1,541,176 $ 2.24 |
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | Weighted Average Weighted Average Weighted Average Range of Number Remaining Exercise Number Exercise Exercise Prices Outstanding Contractual Term Price Exercisable Price $1.31 - $1.86 324,157 2.00 $ 1.64 324,157 $ 1.64 $1.99 - $1.99 937,500 2.44 $ 1.99 937,500 $ 1.99 $2.16 - $3.17 65,000 0.37 $ 2.48 65,000 $ 2.48 $3.39 - $3.40 1,133,727 5.09 $ 3.39 166,863 $ 3.40 $5.05 - $8.03 285,000 6.30 $ 6.66 47,656 $ 6.87 2,745,384 3.83 $ 3.02 1,541,176 $ 2.24 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Year ended September 30, 2021 2020 Cost of revenues $ 40 $ 20 Selling, general and administrative 1,344 939 Research and development 40 21 $ 1,424 $ 980 |
Note 18 - Net Income Per Share
Note 18 - Net Income Per Share (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Years Ended September 30, 2021 2020 Net income $ 704 $ 11,874 Basic income per share $ 0.02 $ 0.36 Diluted income per share $ 0.02 $ 0.35 Weighted average shares outstanding - basic 34,409,478 33,220,915 Assumed exercise of dilutive options 1,179,670 871,413 Weighted average shares outstanding - diluted 35,589,148 34,092,328 Potentially diluted securities outstanding at period end excluded from diluted computation as the inclusion would have been antidilutive: Options 1,035,000 893,750 RSU - - Obligation to issue common stock 208,692 - Total 1,243,692 893,750 |
Note 19 - Segment Information (
Note 19 - Segment Information (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year ended September 30, 2021 2020 Revenue from external customers Hardware $ 44,233 $ 41,395 Software 2,770 1,615 $ 47,003 $ 43,010 Intersegment revenues Hardware $ - $ - Software 1,823 1,692 $ 1,823 $ 1,692 Segment operating income (loss) Hardware $ 7,871 $ 8,771 Software (6,787 ) (2,730 ) $ 1,084 $ 6,041 Other expenses: Depreciation and amortization expense Hardware $ 375 $ 483 Software 1,222 317 $ 1,597 $ 800 Income tax expense (benefit) Hardware $ 434 $ (5,706 ) Software - - $ 434 $ (5,706 ) September 30, 2021 2020 Long-lived assets Hardware $ 1,748 $ 1,924 Software 36,645 3,421 $ 38,393 $ 5,345 Total assets Hardware $ 50,364 $ 61,152 Software 39,764 5,015 $ 90,128 $ 66,167 |
Note 20 - Major Customers, Su_2
Note 20 - Major Customers, Suppliers and Related Information (Tables) | 12 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | Years ended September 30, 2021 2020 Americas $ 39,064 $ 34,815 Asia Pacific 4,470 5,716 Europe, Middle East and Africa 3,469 2,479 Total Revenues $ 47,003 $ 43,010 |
Long-lived Assets by Geographic Areas [Table Text Block] | Year ended September 30, 2021 2020 United States $ 26,880 $ 1,924 Americas (excluding the United States) 8,395 - Asia Pacific - - Europe, Middle East and Africa 3,118 3,421 $ 38,393 $ 5,345 |
Note 2 - Basis of Presentatio_2
Note 2 - Basis of Presentation and Significant Accounting Policies (Details Textual) $ in Thousands | 12 Months Ended | |||
Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($) | Sep. 30, 2019USD ($) | |
Number of Additional Inactive Subsidiaries | 2 | |||
Investments, Typical Final Maturity Maximum (Year) | 3 years | |||
Investments, Typical Portfolio Weighted Average Maturity (Month) | 18 months | |||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 13,167 | $ 23,319 | ||
Restricted Cash and Cash Equivalents, Total | 1,361 | 677 | ||
Deferred Revenue for Collection Issues | 0 | 0 | ||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | 127 | 130 | ||
Inventory Obsolescence Write Down (Recoveries) | (183) | (37) | ||
Cost of Revenue, Total | 23,577 | 20,371 | ||
Revenue from Contract with Customer, Including Assessed Tax | 47,003 | 43,010 | ||
Advertising Expense | 193 | 263 | ||
Standard and Extended Product Warranty Accrual, Ending Balance | 146 | 126 | $ 150 | |
Impairment of Intangible Assets, Finite-lived | $ 0 | $ 0 | ||
Number of Reportable Segments | 2 | 2 | ||
Number of Operating Segments | 2 | |||
Foreign Currency Transaction Gain (Loss), before Tax, Total | $ 260 | |||
Immaterial Correction of Prior Period Financial Statements [Member] | ||||
Prepaid Expenses and Accrued Liabilities | $ 5,205 | |||
Shipping and Handling [Member] | ||||
Cost of Revenue, Total | 232 | $ 259 | ||
Revenue from Contract with Customer, Including Assessed Tax | $ 266 | $ 241 | ||
Minimum [Member] | ||||
Property, Plant and Equipment, Useful Life (Year) | 2 years | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 3 years | |||
Maximum [Member] | ||||
Property, Plant and Equipment, Useful Life (Year) | 7 years | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 15 years | |||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||||
Number Of Major Customers | 2 | 2 | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer 1 [Member] | ||||
Concentration Risk, Percentage | 66.00% | 36.00% | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer 2 [Member] | ||||
Concentration Risk, Percentage | 18.00% | 24.00% |
Note 4 - Business Combination_2
Note 4 - Business Combinations (Details Textual) $ / shares in Units, $ in Thousands, $ in Millions | Jun. 07, 2021USD ($)$ / sharesshares | Oct. 02, 2020USD ($)$ / sharesshares | Oct. 02, 2020CAD ($)shares | Sep. 30, 2021USD ($)$ / shares | Jun. 30, 2021USD ($) | Mar. 31, 2021USD ($) | Dec. 31, 2020USD ($) | Sep. 30, 2020USD ($) | Jun. 30, 2020USD ($) | Sep. 30, 2021USD ($)$ / sharesshares | Sep. 30, 2020USD ($) |
Share Price (in dollars per share) | $ / shares | $ 5.05 | $ 5.98 | $ 5.18 | $ 5.18 | |||||||
Zonehaven, Inc [Member] | |||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares | 2,165,824 | ||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 10,938 | $ 10,938 | $ 0 | ||||||||
Business Combination, Acquisition Related Costs | $ 140 | ||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year) | 6 years 8 months 12 days | ||||||||||
Zonehaven, Inc [Member] | Selling, General and Administrative Expenses [Member] | |||||||||||
Business Combination, Acquisition Related Costs | $ 40 | $ 98 | $ 2 | ||||||||
Assets Acquisition of Amika Mobile Corporation [Member] | |||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares | 573,801 | 573,801 | 208,692 | ||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 3,431 | ||||||||||
Business Combination, Acquisition Related Costs | $ 264 | ||||||||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life (Year) | 7 years | 7 years | |||||||||
Asset Acquisition, Holdback Liability Deposited | $ 1 | ||||||||||
Asset Acquisition, Adjustments from Purchase Holdback Liability, Period (Year) | 3 years | 3 years | |||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares, Each Anniversaries (in shares) | shares | 191,267 | 191,267 | |||||||||
Assets Acquisition of Amika Mobile Corporation [Member] | Former Owner of Amika Mobile [Member] | |||||||||||
Stock Issued During Period, Shares, Acquisitions (in shares) | shares | 365,109 | ||||||||||
Assets Acquisition of Amika Mobile Corporation [Member] | Selling, General and Administrative Expenses [Member] | |||||||||||
Business Combination, Acquisition Related Costs | $ 22 | $ 10 | $ 132 | $ 100 |
Note 4 - Business Combination_3
Note 4 - Business Combinations - Preliminary Consideration (Details) - USD ($) $ in Thousands | Jun. 07, 2021 | Oct. 02, 2020 | Sep. 30, 2021 | Sep. 30, 2020 |
Cash paid for business | $ 15,848 | $ 0 | ||
Zonehaven, Inc [Member] | ||||
Cash paid for business | $ 11,481 | |||
Common stock issued | 10,938 | $ 10,938 | $ 0 | |
Shareholder representative reserve payable | 150 | |||
Business Combination, Consideration Transferred, Total | $ 22,569 | |||
Assets Acquisition of Amika Mobile Corporation [Member] | ||||
Common stock issued | $ 3,431 | |||
Shareholder representative reserve payable | 613 | |||
Business Combination, Consideration Transferred, Total | 8,411 | |||
Cash paid | $ 4,367 |
Note 4 - Business Combination_4
Note 4 - Business Combinations - Purchase Price Allocation (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Oct. 02, 2020 | Sep. 30, 2020 | Jun. 07, 2020 |
Accounts receivable | $ 120 | |||
Deferred tax asset | 106 | |||
Goodwill | $ 23,834 | $ 2,472 | ||
Accounts payable | 194 | |||
Deferred tax liability | 2,729 | |||
Assets Acquisition of Amika Mobile Corporation [Member] | ||||
Intangible assets | $ 2,820 | 10,100 | ||
Goodwill | 5,590 | 15,538 | ||
Total assets acquired | 8,682 | 25,864 | ||
Accrued liabilities | 23 | 372 | ||
Total liabilities assumed | 271 | 3,295 | ||
Net assets acquired | 8,411 | $ 22,569 | ||
Prepaid expenses | 2 | |||
Property equipment | 22 | |||
Operating lease right of use asset | 248 | |||
Operating lease liability | $ 248 |
Note 4 - Business Combination_5
Note 4 - Business Combinations - Estimate Fair Value of the Identifiable Assets Acquired and Estimated Useful Lives (Details) - USD ($) $ in Thousands | Jun. 07, 2021 | Oct. 02, 2020 | Jun. 07, 2020 |
Zonehaven, Inc [Member] | |||
Fair value | $ 10,100 | ||
Useful lives (Year) | 6 years 8 months 12 days | ||
Zonehaven, Inc [Member] | Developed Technology Rights [Member] | |||
Fair value | $ 8,800 | ||
Useful lives (Year) | 7 years | ||
Zonehaven, Inc [Member] | Trade Names [Member] | |||
Fair value | $ 400 | ||
Useful lives (Year) | 5 years | ||
Zonehaven, Inc [Member] | Customer Relationships [Member] | |||
Fair value | $ 900 | ||
Useful lives (Year) | 5 years | ||
Assets Acquisition of Amika Mobile Corporation [Member] | |||
Fair value | $ 2,820 | $ 10,100 | |
Useful lives (Year) | 7 years | ||
Assets Acquisition of Amika Mobile Corporation [Member] | Developed Technology Rights [Member] | |||
Fair value | $ 2,500 | ||
Useful lives (Year) | 7 years | ||
Assets Acquisition of Amika Mobile Corporation [Member] | Customer Relationships [Member] | |||
Fair value | $ 320 | ||
Useful lives (Year) | 7 years |
Note 5 - Revenue Recognition 1
Note 5 - Revenue Recognition 1 (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Contract with Customer, Asset, after Allowance for Credit Loss, Total | $ 0 | $ 0 |
Revenue, Remaining Performance Obligation, Amount | $ 10,129 |
Note 5 - Revenue Recognition 2
Note 5 - Revenue Recognition 2 (Details Textual) $ in Thousands | Sep. 30, 2021USD ($) |
Revenue, Remaining Performance Obligation, Amount | $ 10,129 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01 | |
Revenue, Remaining Performance Obligation, Amount | $ 9,821 |
Revenue, Remaining Performance Obligation, Percentage | 97.00% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Month) | 12 months |
Note 5 - Revenue Recognition -
Note 5 - Revenue Recognition - Contract Asset and Contract Liabilities (Details) $ in Thousands | 12 Months Ended |
Sep. 30, 2021USD ($) | |
Balance | $ 4,707 |
New performance obligations | 17,410 |
Recognition of revenue as a result of satisfying performance obligations | (11,996) |
Effect of exchange rate on deferred revenue | 8 |
Balance | 10,129 |
Less: non-current portion | (308) |
Current portion | 9,821 |
Customer Deposits [Member] | |
Balance | 3,683 |
New performance obligations | 15,511 |
Recognition of revenue as a result of satisfying performance obligations | (10,493) |
Effect of exchange rate on deferred revenue | 0 |
Balance | 8,701 |
Less: non-current portion | 0 |
Current portion | 8,701 |
Deferred Revenue [Member] | |
Balance | 1,024 |
New performance obligations | 1,899 |
Recognition of revenue as a result of satisfying performance obligations | (1,503) |
Effect of exchange rate on deferred revenue | 8 |
Balance | 1,428 |
Less: non-current portion | (308) |
Current portion | $ 1,120 |
Note 6 - Fair Value Measureme_3
Note 6 - Fair Value Measurements (Details Textual) $ in Thousands, $ in Thousands | Oct. 02, 2020USD ($) | Oct. 02, 2020CAD ($) | Oct. 01, 2020USD ($) | Oct. 01, 2020CAD ($) | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Aug. 31, 2020CAD ($) |
Marketable Securities, Total | $ 0 | ||||||
Derivative, Gain (Loss) on Derivative, Net, Total | $ 0 | $ (76) | |||||
Foreign Exchange Forward [Member] | |||||||
Derivative, Notional Amount | $ 6,955 | ||||||
Payments for Derivative Instrument, Financing Activities | $ 5,281 | $ 6,955 | |||||
Derivative, Gain (Loss) on Derivative, Net, Total | $ (48) | ||||||
Foreign Exchange Forward [Member] | Accounts Payable and Accrued Liabilities [Member] | |||||||
Derivative Liability, Current | $ 76 | ||||||
Assets Acquisition of Amika Mobile Corporation [Member] | |||||||
Asset Purchase Agreement, Deduction From Liability | $ 787 | $ 1,000 | |||||
Asset Acquisition, Adjustments from Purchase Holdback Liability, Period (Year) | 3 years | 3 years |
Note 6 - Fair Value Measureme_4
Note 6 - Fair Value Measurements - Fair Value by Major Security Type (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Short-term marketable securities | $ 5,686 | $ 4,265 |
Long-term Securities | 1,875 | 3,805 |
Fair Value, Nonrecurring [Member] | ||
Cost Basis | 8,493 | 8,428 |
Unrealized Gains (Losses) | 0 | 7 |
Fair Value | 8,493 | 8,435 |
Cash Equivalents | 932 | 365 |
Short-term marketable securities | 5,686 | 4,265 |
Long-term Securities | 1,875 | 3,805 |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cost Basis | 932 | 365 |
Unrealized Gains (Losses) | 0 | 0 |
Fair Value | 932 | 365 |
Cash Equivalents | 932 | 365 |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cost Basis | 7,561 | 8,063 |
Unrealized Gains (Losses) | 0 | 7 |
Fair Value | 7,561 | 8,070 |
Cash Equivalents | 0 | 0 |
Short-term marketable securities | 5,686 | 4,265 |
Long-term Securities | 1,875 | 3,805 |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Certificates of Deposit [Member] | ||
Cost Basis | 1,494 | 1,195 |
Unrealized Gains (Losses) | 0 | 0 |
Fair Value | 1,494 | 1,195 |
Cash Equivalents | 0 | 0 |
Short-term marketable securities | 694 | |
Long-term Securities | 800 | 1,195 |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Cost Basis | 5,139 | 3,777 |
Unrealized Gains (Losses) | (1) | 4 |
Fair Value | 5,138 | 3,781 |
Cash Equivalents | 0 | 0 |
Short-term marketable securities | 4,205 | 2,431 |
Long-term Securities | 933 | 1,350 |
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | Corporate Debt Securities [Member] | ||
Cost Basis | 928 | 3,091 |
Unrealized Gains (Losses) | 1 | 3 |
Fair Value | 929 | 3,094 |
Cash Equivalents | 0 | 0 |
Short-term marketable securities | 787 | 1,834 |
Long-term Securities | $ 142 | $ 1,260 |
Note 6 - Fair Value Measureme_5
Note 6 - Fair Value Measurements - Instruments Measured at Fair Value on a Non-recurring Basis (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands | Sep. 30, 2021 | Oct. 01, 2020 |
Zonehaven, Inc [Member] | Reported Value Measurement [Member] | ||
Goodwill | $ 15,538 | |
Intangible assets | 9,594 | |
Zonehaven, Inc [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Goodwill | 0 | |
Intangible assets | 0 | |
Zonehaven, Inc [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Goodwill | 0 | |
Intangible assets | 0 | |
Zonehaven, Inc [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Goodwill | 15,538 | |
Intangible assets | 9,594 | |
Assets Acquisition of Amika Mobile Corporation [Member] | Holdback Liability [Member] | ||
Holdback liability from Amika Mobile asset purchase | 687 | $ 613 |
Assets Acquisition of Amika Mobile Corporation [Member] | Reported Value Measurement [Member] | ||
Goodwill | 5,853 | |
Intangible assets | 2,531 | |
Operating lease ROU asset from Amika Mobile asset purchase | 248 | |
Assets Acquisition of Amika Mobile Corporation [Member] | Reported Value Measurement [Member] | Holdback Liability [Member] | ||
Holdback liability from Amika Mobile asset purchase | 687 | |
Assets Acquisition of Amika Mobile Corporation [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Goodwill | 0 | |
Intangible assets | 0 | |
Operating lease ROU asset from Amika Mobile asset purchase | 0 | |
Assets Acquisition of Amika Mobile Corporation [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | Holdback Liability [Member] | ||
Holdback liability from Amika Mobile asset purchase | 0 | |
Assets Acquisition of Amika Mobile Corporation [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Goodwill | 0 | |
Intangible assets | 0 | |
Operating lease ROU asset from Amika Mobile asset purchase | 0 | |
Assets Acquisition of Amika Mobile Corporation [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | Holdback Liability [Member] | ||
Holdback liability from Amika Mobile asset purchase | 0 | |
Assets Acquisition of Amika Mobile Corporation [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Goodwill | 5,853 | |
Intangible assets | 2,531 | |
Operating lease ROU asset from Amika Mobile asset purchase | 248 | |
Assets Acquisition of Amika Mobile Corporation [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | Holdback Liability [Member] | ||
Holdback liability from Amika Mobile asset purchase | $ 687 |
Note 6 - Fair Value Measureme_6
Note 6 - Fair Value Measurements - Holdback Liability Measured at Fair Value on a Non-recurring Basis (Details) - Fair Value, Nonrecurring [Member] - Assets Acquisition of Amika Mobile Corporation [Member] - Holdback Liability [Member] $ in Thousands | 12 Months Ended |
Sep. 30, 2021USD ($) | |
Balance at acquisition date | $ 613 |
Accretion | 46 |
Currency translation | 28 |
Balance at September 30, 2021 | $ 687 |
Note 7 - Inventories - Schedule
Note 7 - Inventories - Schedule of Inventory (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Raw materials | $ 5,449 | $ 5,220 |
Finished goods | 842 | 841 |
Work in process | 877 | 456 |
Inventories, gross | 7,168 | 6,517 |
Reserve for obsolescence | (752) | (568) |
Inventories, net | $ 6,416 | $ 5,949 |
Note 8 - Property and Equipme_3
Note 8 - Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Property and equipment | $ 4,685 | $ 4,429 |
Accumulated depreciation | (2,930) | (2,499) |
Property and equipment, net | 1,755 | 1,930 |
Furniture and Fixtures [Member] | ||
Property and equipment | 1,261 | 1,181 |
Machinery and Equipment [Member] | ||
Property and equipment | 1,270 | 1,184 |
Leasehold Improvements [Member] | ||
Property and equipment | 2,154 | 2,056 |
Construction in Progress [Member] | ||
Property and equipment | $ 0 | $ 8 |
Note 8 - Property and Equipme_4
Note 8 - Property and Equipment - Property and Equipment, Depreciation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Depreciation expense | $ 406 | $ 498 |
Note 9 - Goodwill and Intangi_3
Note 9 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Oct. 02, 2020 | Jun. 07, 2020 | |
Goodwill, Acquired During Period | $ 21,128 | |||
Goodwill, Ending Balance | 23,834 | $ 2,472 | ||
Goodwill, Impairment Loss | 0 | $ 0 | ||
Finite-lived Intangible Assets Acquired | 12,920 | |||
Genasys Spain [Member] | ||||
Goodwill and Intangible Assets, Foreign Currency Translation Gain (Loss) | (32) | |||
Zonehaven, Inc and Asset Acquisition of Amika Mobile Corporation [Member] | ||||
Goodwill, Acquired During Period | 21,128 | |||
Finite-lived Intangible Assets Acquired | 13,052 | |||
Assets Acquisition of Amika Mobile Corporation [Member] | ||||
Goodwill, Ending Balance | $ 5,590 | $ 15,538 | ||
Goodwill and Intangible Assets, Foreign Currency Translation Gain (Loss) | $ 398 |
Note 9 - Goodwill and Intangi_4
Note 9 - Goodwill and Intangible Assets - Changes in Carrying Amount of Goodwill (Details) $ in Thousands | 12 Months Ended |
Sep. 30, 2021USD ($) | |
Balance, goodwill | $ 2,472 |
Acquisitions, goodwill | 21,128 |
Currency translation, goodwill | 234 |
Balance, goodwill | 23,834 |
Hardware [Member] | |
Balance, goodwill | 0 |
Acquisitions, goodwill | 0 |
Currency translation, goodwill | 0 |
Balance, goodwill | 0 |
Software [Member] | |
Balance, goodwill | 2,472 |
Acquisitions, goodwill | 21,128 |
Currency translation, goodwill | 234 |
Balance, goodwill | $ 23,834 |
Note 9 - Goodwill and Intangi_5
Note 9 - Goodwill and Intangible Assets - Summary of Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Intangible assets, gross carrying amount | $ 14,861 | $ 1,829 |
Accumulated amortization | (2,057) | (886) |
Intangible assets, net | 12,804 | 943 |
Amortization expense | 1,191 | 302 |
Developed Technology Rights [Member] | ||
Intangible assets, gross carrying amount | 12,065 | 655 |
Customer Relationships [Member] | ||
Intangible assets, gross carrying amount | 1,855 | 627 |
Trade Names [Member] | ||
Intangible assets, gross carrying amount | 625 | 228 |
Noncompete Agreements [Member] | ||
Intangible assets, gross carrying amount | 244 | 247 |
Patents [Member] | ||
Intangible assets, gross carrying amount | $ 72 | $ 72 |
Note 9 - Goodwill and Intangi_6
Note 9 - Goodwill and Intangible Assets - Changes in Carrying Amount of Intangible Assets (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Balance, intangible assets | $ 943 | |
Acquisitions, intangible assets | 12,920 | |
Amortization, intangible assets | (1,191) | $ (302) |
Currency translation, intangible assets | 132 | |
Balance, intangible assets | 12,804 | 943 |
Hardware [Member] | ||
Balance, intangible assets | 29 | |
Acquisitions, intangible assets | 0 | |
Amortization, intangible assets | (4) | |
Currency translation, intangible assets | 0 | |
Balance, intangible assets | 25 | 29 |
Software [Member] | ||
Balance, intangible assets | 914 | |
Acquisitions, intangible assets | 12,920 | |
Amortization, intangible assets | (1,187) | |
Currency translation, intangible assets | 132 | |
Balance, intangible assets | $ 12,779 | $ 914 |
Note 9 - Goodwill and Intangi_7
Note 9 - Goodwill and Intangible Assets - Estimated Future Amortization Expense (Details) $ in Thousands | Sep. 30, 2021USD ($) |
2022 | $ 2,169 |
2023 | 2,137 |
2024 | 2,123 |
2025 | 1,995 |
2026 | 1,855 |
Thereafter | 2,525 |
Total estimated amortization expense | $ 12,804 |
Note 10 - Prepaid Expenses an_3
Note 10 - Prepaid Expenses and Other (Details Textual) | Sep. 30, 2021 |
Capitalized Contract Cost, Amortization Period (Year) | 4 years |
Note 10 - Prepaid Expenses an_4
Note 10 - Prepaid Expenses and Other - Summary of Prepaid Expenses and Others (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Deposits for inventory | $ 997 | $ 54 |
Prepaid insurance | 395 | 264 |
Dues and subscriptions | 213 | 151 |
Prepaid professional services | 158 | 0 |
Prepaid commissions | 82 | 0 |
Trade shows and travel | 95 | 103 |
Other | 315 | 288 |
Prepaid expenses and other | $ 2,255 | $ 860 |
Note 11 - Accrued and Other L_3
Note 11 - Accrued and Other Liabilities (Details Textual) $ in Thousands, $ in Millions | Oct. 02, 2020USD ($) | Oct. 02, 2020CAD ($) | Sep. 30, 2021 |
Assets Acquisition of Amika Mobile Corporation [Member] | |||
Asset Purchase Agreement, Deduction From Liability | $ 787 | $ 1 | |
Asset Purchase Agreement, Deduction, Term (Year) | 3 years | 3 years | |
Minimum [Member] | |||
Extended Product Warranty Term (Year) | 1 year | ||
Maximum [Member] | |||
Extended Product Warranty Term (Year) | 2 years |
Note 11 - Accrued and Other L_4
Note 11 - Accrued and Other Liabilities - Summary of Accrued Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Payroll and related | $ 3,726 | $ 2,545 |
Contract liability, current | 9,821 | |
Accrued contract costs | 416 | 719 |
Warranty reserve | 146 | 126 |
Other | 2 | 76 |
Total | 14,111 | 7,880 |
Service [Member] | ||
Contract liability, current | 1,120 | 731 |
Hardware [Member] | ||
Contract liability, current | $ 8,701 | $ 3,683 |
Note 11 - Accrued and Other L_5
Note 11 - Accrued and Other Liabilities - Other Noncurrent Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Contract liability, noncurrent | $ 308 | |
Asset purchase holdback liability | 687 | $ 0 |
Total | 995 | 293 |
Service [Member] | ||
Contract liability, noncurrent | $ 308 | $ 293 |
Note 11 - Accrued and Other L_6
Note 11 - Accrued and Other Liabilities - Changes in Warranty Reserve (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Beginning balance | $ 126 | $ 150 |
Warranty provision | 56 | 16 |
Warranty settlements | (36) | (40) |
Ending balance | $ 146 | $ 126 |
Note 12 - Debt (Details Textual
Note 12 - Debt (Details Textual) - USD ($) $ in Thousands | Mar. 08, 2021 | Sep. 30, 2021 |
Revolving Credit Facility [Member] | MUFG Union Bank, N.A. [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 10,000 | |
Long-term Line of Credit, Total | $ 0 | |
Debt Issuance Costs, Gross | $ 38 | |
Revolving Credit Facility [Member] | MUFG Union Bank, N.A. [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Debt Instrument, Basis Spread on Variable Rate | 2.25% | |
Collateral Pledged [Member] | Loan with Ministry of Science and Innovation, Due February 2, 2024 [Member] | Genasys Spain [Member] | ||
Debt, Current, Total | $ 279 | |
Percentage of Principal Received | 66.60% |
Note 12 - Debt - Loans With Gov
Note 12 - Debt - Loans With Governmental Agencies (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | ||
Principal, loans with governmental agencies | $ 296 | $ 318 | |
Loans With Governmental Agencies [Member] | |||
Principal, loans with governmental agencies | $ 296 | ||
Loans With Governmental Agencies [Member] | Ministry of Economy and Competitiveness, Debt, Due February 2, 2022 [Member] | |||
Due date, loans with governmental agencies | Feb. 2, 2022 | ||
Principal, loans with governmental agencies | $ 17 | ||
Loans With Governmental Agencies [Member] | Ministry of Economy and Competitiveness, Debt, Due February 2, 2024 [Member] | |||
Due date, loans with governmental agencies | Feb. 2, 2024 | ||
Principal, loans with governmental agencies | [1] | $ 279 | |
[1] | This loan is secured by $279 of cash pledged as collateral by Genasys Spain, which is the current balance of the loan. This amount represents 66.6% of the original principal received. This amount is included in restricted cash as of September 30, 2021. The Company expects the Ministry of Economy and Competitiveness to declare the terms of the loan satisfied within the next twelve months and that the outstanding balance of the loan will be paid in full during the next twelve months. Accordingly, this has been included in the current portion of notes payable as of September 30, 2021. |
Note 12 - Debt - Changes in Car
Note 12 - Debt - Changes in Carrying Amount of Debt (Details) $ in Thousands | 12 Months Ended |
Sep. 30, 2021USD ($) | |
Balance | $ 318 |
Payments | (19) |
Currency translation | (3) |
Balance | $ 296 |
Note 12 - Debt - Future Annual
Note 12 - Debt - Future Annual Payments (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
2022 | $ 296 | |
Total | $ 296 | $ 318 |
Note 13 - Leases (Details Textu
Note 13 - Leases (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Oct. 01, 2019 | |
Increase in Lease Liability with 10% Increase in Index | $ 19 | ||
Operating Lease, Liability | 6,608 | $ 7,166 | |
Operating Lease, Right-of-Use Asset | $ 4,862 | 5,285 | |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 6 years 8 months 12 days | ||
Operating Lease, Weighted Average Discount Rate, Percent | 4.10% | ||
Operating Lease, Expense | $ 991 | 902 | |
Short-term Lease, Cost | 3 | $ 0 | |
Assets Acquisition of Amika Mobile Corporation [Member] | |||
Operating Lease, Liability | 259 | ||
Operating Lease, Right-of-Use Asset | $ 259 | ||
Accounting Standards Update 2016-02 [Member] | |||
Operating Lease, Liability | $ 7,815 | ||
Operating Lease, Right-of-Use Asset | $ 5,824 |
Note 13 - Leases - Initial Meas
Note 13 - Leases - Initial Measurement of Operating Lease (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Operating lease ROU asset at September 30, 2020 | $ 5,285 | |
Additional operating lease ROU assets | 259 | |
Less amortization of operating lease ROU assets | (694) | $ (599) |
Effect of exchange rate on operating lease ROU assets | 12 | |
Operating lease ROU assets at September 30, 2021 | 4,862 | 5,285 |
Operating lease liabilities | 7,166 | |
Less lease principal payments on operating lease liabilities | (829) | |
Effect of exchange rate on operating lease liabilities | 12 | |
Operating lease liabilities | 6,608 | 7,166 |
Less non-current portion | (5,709) | (6,395) |
Current portion at September 30, 2021 | $ 899 | $ 771 |
Note 13 - Leases - Maturities o
Note 13 - Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
2022 | $ 1,151 | |
2023 | 1,089 | |
2024 | 1,084 | |
2025 | 1,057 | |
2026 | 1,069 | |
Thereafter | 2,139 | |
Total undiscounted operating lease payments | 7,589 | |
Less imputed interest | (981) | |
Operating Lease, Liability | $ 6,608 | $ 7,166 |
Note 14 - Income Taxes (Details
Note 14 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 21.00% |
Deferred Tax Assets, Tax Credit Carryforwards, Research | $ 5,479 | $ 5,686 |
Deferred Tax Assets, Valuation Allowance, Total | 8,313 | $ 7,878 |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||
Deferred Tax Assets, Net, Total | 8,039 | |
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 35,819 | |
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration | 1,262 | |
Deferred Tax Assets, Tax Credit Carryforwards, Research | 2,373 | |
State and Local Jurisdiction [Member] | ||
Deferred Tax Assets, Tax Credit Carryforwards, Research | $ 176 |
Note 14 - Income Taxes - Summar
Note 14 - Income Taxes - Summary of Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Federal | $ 0 | $ 0 |
State | 1 | 2 |
Total current tax provision | 1 | 2 |
Federal | 368 | (4,852) |
State | 65 | (856) |
Total deferred provision | 433 | (5,708) |
Provision (benefit) for income taxes | $ 434 | $ (5,706) |
Note 14 - Income Taxes - Reconc
Note 14 - Income Taxes - Reconciliation of Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Income taxes computed at the federal statutory rate | $ 239 | $ 1,296 |
Change in valuation allowance | 435 | (7,134) |
Nondeductible compensation, interest expense and other | 57 | 24 |
State income taxes, net of federal tax benefit | 210 | 364 |
Change in R&D credit carryover | 19 | (219) |
Stock options and other prior year true-ups | (175) | (7) |
Foreign rate differential | (117) | (21) |
State business credit utilization | (234) | (9) |
Provision (benefit) for income taxes | $ 434 | $ (5,706) |
Note 14 - Income Taxes - Signif
Note 14 - Income Taxes - Significant Portion of Net Deferred Tax Asset (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Net operating loss carryforwards | $ 11,769 | $ 11,985 |
Deferred Tax Assets, Tax Credit Carryforwards, Research | 5,479 | 5,686 |
Share-based compensation | 538 | 317 |
Patents | 8 | 15 |
Accruals and other | 2,487 | 2,526 |
Allowances | 237 | 183 |
Gross deferred tax asset | 20,518 | 20,712 |
Equipment | (352) | (405) |
Operating ROU assets | (1,222) | (1,334) |
Acquired intangible assets | (2,592) | 0 |
Gross deferred tax liabilities | (4,166) | (1,739) |
Less valuation allowance | (8,313) | (7,878) |
Total deferred tax assets, net of valuation allowance | $ 8,039 | $ 11,095 |
Note 15 - Commitments and Con_2
Note 15 - Commitments and Contingencies (Details Textual) $ / shares in Units, $ in Thousands, $ in Millions | Oct. 02, 2020USD ($)$ / sharesshares | Oct. 02, 2020CAD ($)shares | Sep. 30, 2021USD ($)$ / sharesshares | Sep. 30, 2020USD ($) | Jun. 07, 2021$ / shares |
Increase (Decrease) in Other Employee-Related Liabilities | $ | $ 2,625 | $ 1,554 | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ | $ 219 | $ 206 | |||
Share Price (in dollars per share) | $ / shares | $ 5.98 | $ 5.18 | $ 5.05 | ||
Assets Acquisition of Amika Mobile Corporation [Member] | |||||
Asset Purchase Agreement, Deduction From Liability | $ 787 | $ 1 | |||
Asset Purchase Agreement, Deduction, Term (Year) | 3 years | 3 years | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares, Each Anniversaries (in shares) | shares | 191,267 | 191,267 | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | shares | 573,801 | 573,801 | 208,692 | ||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ | $ 3,431 | ||||
Assets Acquisition of Amika Mobile Corporation [Member] | Former Owner of Amika Mobile [Member] | |||||
Stock Issued During Period, Shares, Acquisitions (in shares) | shares | 365,109 |
Note 16 - Share-based Compens_3
Note 16 - Share-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Sep. 01, 2021 | Mar. 16, 2021 | Mar. 10, 2020 | Oct. 04, 2019 | Aug. 01, 2016 | Jun. 30, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2020 | Jun. 07, 2021 | Dec. 08, 2020 | Oct. 02, 2020 |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 8,232,968 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 295,000 | 231,270 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 7 years | |||||||||||||
Dividends, Total | $ 0 | $ 0 | ||||||||||||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | 982 | |||||||||||||
Share-based Payment Arrangement, Expense | 1,424 | 980 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 6,343 | 4,610 | $ 4,610 | |||||||||||
Share Price (in dollars per share) | $ 5.18 | $ 5.05 | $ 5.98 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 725 | 2,578 | ||||||||||||
Gross Proceeds from Stock Options Exercised | 211 | 1,136 | ||||||||||||
Share-based Payment Arrangement, Expense, Tax Benefit | 514 | 1,442 | ||||||||||||
Selling, General and Administrative Expenses [Member] | ||||||||||||||
Share-based Payment Arrangement, Expense | $ 1,344 | 939 | ||||||||||||
Common Stock Award [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 5,088,115 | |||||||||||||
Share-based Payment Arrangement, Option [Member] | ||||||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 10 months 24 days | |||||||||||||
Share-based Payment Arrangement, Option [Member] | Employees, Directors, and Consultants [Member] | ||||||||||||||
Share-based Payment Arrangement, Expense | $ 294 | $ 396 | ||||||||||||
Performance Shares [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | |||||||||||||
Performance Shares [Member] | Key Executive [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 800,000 | 750,000 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 7 years | 7 years | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Performance Criteria, Maximum Vested Per Year, Number (in shares) | 375,000 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares (in shares) | 375,000 | 187,500 | ||||||||||||
Share-based Payment Arrangement, Expense | $ 0 | |||||||||||||
Performance Shares [Member] | Key Executive [Member] | Selling, General and Administrative Expenses [Member] | ||||||||||||||
Share-based Payment Arrangement, Expense | $ 459 | |||||||||||||
Restricted Stock Units (RSUs) [Member] | ||||||||||||||
Share-based Payment Arrangement, Expense | $ 1,130 | $ 584 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 325,365 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 228,633 | |||||||||||||
Restricted Stock Units (RSUs) [Member] | Employees [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 3 years | 3 years | 3 years | 3 years | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 145,950 | 81,270 | 99,300 | 93,330 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | 3 years | ||||||||||||
Shares Granted, Value, Share-based Payment Arrangement, before Forfeiture | $ 989 | $ 258 | $ 248 | $ 210 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 5,000 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 25 | |||||||||||||
Restricted Stock Units (RSUs) [Member] | Board of Directors [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 17,500 | 27,883 | 30,000 | |||||||||||
Shares Granted, Value, Share-based Payment Arrangement, before Forfeiture | $ 184 | $ 1,100 | $ 425 | |||||||||||
2015 Equity Plan [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 10,000,000 | 5,000,000 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Proposed Number of Shares Authorized (in shares) | 10,000,000 | |||||||||||||
2015 Equity Plan [Member] | Options and RSUs [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Equity Instruments Other than Options, Outstanding, Number (in shares) | 3,059,853 | |||||||||||||
2005 Equity Plan [Member] | Options and RSUs [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options and Equity Instruments Other than Options, Outstanding, Number (in shares) | 85,000 |
Note 16 - Share-based Compens_4
Note 16 - Share-based Compensation - Weighted-average Assumptions (Details) | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Volatility | 48.50% | 44.50% |
Risk-free interest rate | 0.70% | 1.40% |
Dividend yield | 0.00% | 0.00% |
Expected term in years (Year) | 6 years 6 months | 5 years 4 months 24 days |
Note 16 - Share-based Compens_5
Note 16 - Share-based Compensation - Restricted Stock Activity (Details) - Restricted Stock Units (RSUs) [Member] | 12 Months Ended |
Sep. 30, 2021$ / sharesshares | |
Number of Shares Outstanding (in shares) | shares | 303,014 |
Weighted Average Grant Date Fair Value, Outstanding (in dollars per share) | $ / shares | $ 2.82 |
Number of Shares Granted (in shares) | shares | 325,365 |
Weighted Average Grant Date Fair Value, Granted (in dollars per share) | $ / shares | $ 7.06 |
Number of Shares Released (in shares) | shares | (228,633) |
Weighted Average Grant Date Fair Value, Released (in dollars per share) | $ / shares | $ 2.83 |
Number of Shares Forfeited/cancelled (in shares) | shares | (277) |
Weighted Average Grant Date Fair Value, Forfeited/cancelled (in dollars per share) | $ / shares | $ 2.26 |
Number of Shares Outstanding (in shares) | shares | 399,469 |
Weighted Average Grant Date Fair Value, Outstanding (in dollars per share) | $ / shares | $ 6.27 |
Note 16 - Share-based Compens_6
Note 16 - Share-based Compensation - Stock Option Activity (Details) - $ / shares | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Number of Shares Outstanding, Beginning Balance (in shares) | 2,659,305 | |
Weighted Average Exercise Price, Shares Outstanding, Beginning Balance (in dollars per share) | $ 2.56 | |
Number of Shares Granted (in shares) | 295,000 | 231,270 |
Weighted Average Exercise Price, Shares Granted (in dollars per share) | $ 6.71 | |
Number of Shares Forfeited/expired (in shares) | (104,125) | |
Weighted Average Exercise Price, Shares Forfeited/expired (in dollars per share) | $ 2.57 | |
Number of Shares Exercised (in shares) | (104,796) | (583,019) |
Weighted Average Exercise Price, Exercised (in dollars per share) | $ 2.01 | |
Number of Shares Outstanding, Ending Balance (in shares) | 2,745,384 | 2,659,305 |
Weighted Average Exercise Price, Shares Outstanding, Ending Balance (in dollars per share) | $ 3.02 | $ 2.56 |
Number of Shares Exercisable (in shares) | 1,541,176 | |
Weighted Average Exercise Price, Shares Exercisable (in dollars per share) | $ 2.24 |
Note 16 - Share-based Compens_7
Note 16 - Share-based Compensation - Stock Options Outstanding (Details) | 12 Months Ended |
Sep. 30, 2021$ / sharesshares | |
Number Outstanding (in shares) | shares | 2,745,384 |
Weighted Average Remaining Contractual Life (Year) | 3 years 9 months 29 days |
Weighted Average Exercise Price, Outstanding (in dollars per share) | $ 3.02 |
Number Exercisable (in shares) | shares | 1,541,176 |
Weighted Average Exercise Price, Exercisable (in dollars per share) | $ 2.24 |
Range One [Member] | |
Upper Exercise Price (in dollars per share) | $ 1.86 |
Number Outstanding (in shares) | shares | 324,157 |
Weighted Average Remaining Contractual Life (Year) | 2 years |
Weighted Average Exercise Price, Outstanding (in dollars per share) | $ 1.64 |
Number Exercisable (in shares) | shares | 324,157 |
Weighted Average Exercise Price, Exercisable (in dollars per share) | $ 1.64 |
Range Two [Member] | |
Upper Exercise Price (in dollars per share) | $ 1.99 |
Number Outstanding (in shares) | shares | 937,500 |
Weighted Average Remaining Contractual Life (Year) | 2 years 5 months 8 days |
Weighted Average Exercise Price, Outstanding (in dollars per share) | $ 1.99 |
Number Exercisable (in shares) | shares | 937,500 |
Weighted Average Exercise Price, Exercisable (in dollars per share) | $ 1.99 |
Range Three [Member] | |
Upper Exercise Price (in dollars per share) | $ 3.17 |
Number Outstanding (in shares) | shares | 65,000 |
Weighted Average Remaining Contractual Life (Year) | 4 months 13 days |
Weighted Average Exercise Price, Outstanding (in dollars per share) | $ 2.48 |
Number Exercisable (in shares) | shares | 65,000 |
Weighted Average Exercise Price, Exercisable (in dollars per share) | $ 2.48 |
Range Four [Member] | |
Upper Exercise Price (in dollars per share) | $ 3.40 |
Number Outstanding (in shares) | shares | 1,133,727 |
Weighted Average Remaining Contractual Life (Year) | 5 years 1 month 2 days |
Weighted Average Exercise Price, Outstanding (in dollars per share) | $ 3.39 |
Number Exercisable (in shares) | shares | 166,863 |
Weighted Average Exercise Price, Exercisable (in dollars per share) | $ 3.40 |
Range Five [Member] | |
Upper Exercise Price (in dollars per share) | $ 8.03 |
Number Outstanding (in shares) | shares | 285,000 |
Weighted Average Remaining Contractual Life (Year) | 6 years 3 months 18 days |
Weighted Average Exercise Price, Outstanding (in dollars per share) | $ 6.66 |
Number Exercisable (in shares) | shares | 47,656 |
Weighted Average Exercise Price, Exercisable (in dollars per share) | $ 6.87 |
Note 16 - Share-based Compens_8
Note 16 - Share-based Compensation - Summary of Share-based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Share-based Payment Arrangement, Expense | $ 1,424 | $ 980 |
Cost of Sales [Member] | ||
Share-based Payment Arrangement, Expense | 40 | 20 |
Selling, General and Administrative Expenses [Member] | ||
Share-based Payment Arrangement, Expense | 1,344 | 939 |
Research and Development Expense [Member] | ||
Share-based Payment Arrangement, Expense | $ 40 | $ 21 |
Note 17 - Stockholders' Equity
Note 17 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Jun. 07, 2021 | Oct. 02, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Mar. 18, 2021 | Mar. 17, 2021 | Dec. 31, 2018 |
Common Stock, Shares Authorized (in shares) | 100,000,000 | 100,000,000 | 100,000,000 | 50,000,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 104,796 | 583,019 | |||||
Gross Proceeds from Stock Options Exercised | $ 211 | $ 1,136 | |||||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total (in shares) | 228,633 | 198,106 | |||||
Share Price (in dollars per share) | $ 5.05 | $ 5.98 | $ 5.18 | ||||
Preferred Stock, Shares Authorized (in shares) | 5,000,000 | 5,000,000 | |||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.00001 | $ 0.00001 | |||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | 0 | |||||
Stock Repurchased During Period, Value | $ 398 | ||||||
Share Buyback Program [Member] | |||||||
Stock Repurchase Program, Authorized Amount | $ 5,000 | ||||||
Stock Repurchased and Retired During Period, Shares (in shares) | 0 | 156,505 | |||||
Stock Repurchased During Period, Value | $ 398 | ||||||
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 4,100 | ||||||
Assets Acquisition of Amika Mobile Corporation [Member] | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares, Each Anniversaries (in shares) | 191,267 | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 573,801 | 208,692 | |||||
Business Acquisition, Share Price (in dollars per share) | $ 5.98 | ||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 3,431 | ||||||
Assets Acquisition of Amika Mobile Corporation [Member] | Former Owner of Amika Mobile [Member] | |||||||
Stock Issued During Period, Shares, Acquisitions (in shares) | 365,109 | ||||||
Zonehaven, Inc [Member] | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 2,165,824 | ||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 10,938 | $ 10,938 | $ 0 |
Note 18 - Net Income Per Shar_2
Note 18 - Net Income Per Share - Basic and Diluted Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Net income | $ 704 | $ 11,874 |
Basic income per share (in dollars per share) | $ 0.02 | $ 0.36 |
Diluted income per share (in dollars per share) | $ 0.02 | $ 0.35 |
Weighted average shares outstanding - basic (in shares) | 34,409,478 | 33,220,915 |
Assumed exercise of dilutive options (in shares) | 1,179,670 | 871,413 |
Weighted average shares outstanding - diluted (in shares) | 35,589,148 | 34,092,328 |
Antidilutive securities (in shares) | 1,243,692 | 893,750 |
Share-based Payment Arrangement, Option [Member] | ||
Antidilutive securities (in shares) | 1,035,000 | 893,750 |
Restricted Stock Units (RSUs) [Member] | ||
Antidilutive securities (in shares) | 0 | 0 |
Obligation to Issue Common Stock [Member] | ||
Antidilutive securities (in shares) | 208,692 | 0 |
Note 19 - Segment Information_2
Note 19 - Segment Information (Details Textual) | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Number of Reportable Segments | 2 | 2 |
Note 19 - Segment Information -
Note 19 - Segment Information - Segment Disclosures (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 47,003 | $ 43,010 |
Operating Income (Loss) | 1,084 | 6,041 |
Depreciation and amortization | 1,597 | 800 |
Income Tax (Benefit) Expense | 434 | (5,706) |
Long-lived assets | 38,393 | 5,345 |
Total assets | 90,128 | 66,167 |
Intersegment Eliminations [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 1,823 | 1,692 |
Hardware [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 44,233 | 41,395 |
Operating Income (Loss) | 7,871 | 8,771 |
Depreciation and amortization | 375 | 483 |
Income Tax (Benefit) Expense | 434 | (5,706) |
Long-lived assets | 1,748 | 1,924 |
Total assets | 50,364 | 61,152 |
Hardware [Member] | Intersegment Eliminations [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 |
Software [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | 2,770 | 1,615 |
Operating Income (Loss) | (6,787) | (2,730) |
Depreciation and amortization | 1,222 | 317 |
Income Tax (Benefit) Expense | 0 | 0 |
Long-lived assets | 36,645 | 3,421 |
Total assets | 39,764 | 5,015 |
Software [Member] | Intersegment Eliminations [Member] | ||
Revenue from Contract with Customer, Including Assessed Tax | $ 1,823 | $ 1,692 |
Note 20 - Major Customers, Su_3
Note 20 - Major Customers, Suppliers and Related Information (Details Textual) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | |
Revenue from Contract with Customer, Including Assessed Tax | $ 47,003 | $ 43,010 |
UNITED STATES | ||
Revenue from Contract with Customer, Including Assessed Tax | $ 37,888 | $ 32,765 |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||
Number Of Major Customers | 1 | 1 |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | One Customer [Member] | ||
Concentration Risk, Percentage | 58.00% | 63.00% |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | ||
Number Of Major Customers | 2 | 2 |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | One Customer [Member] | ||
Concentration Risk, Percentage | 66.00% | 36.00% |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Two Customers [Member] | ||
Concentration Risk, Percentage | 18.00% | 24.00% |
Note 20 - Major Customers, Su_4
Note 20 - Major Customers, Suppliers and Related Information - Schedule of Major Customers (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Revenues | $ 47,003 | $ 43,010 |
Americas [Member] | ||
Revenues | 39,064 | 34,815 |
Asia Pacific [Member] | ||
Revenues | 4,470 | 5,716 |
EMEA [Member] | ||
Revenues | $ 3,469 | $ 2,479 |
Note 20 - Major Customers, Su_5
Note 20 - Major Customers, Suppliers and Related Information - Schedule of Long-lived Assets (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Sep. 30, 2020 |
Long-lived assets | $ 38,393 | $ 5,345 |
UNITED STATES | ||
Long-lived assets | 26,880 | 1,924 |
Non-US [Member] | ||
Long-lived assets | 8,395 | 0 |
Asia Pacific [Member] | ||
Long-lived assets | 0 | 0 |
EMEA [Member] | ||
Long-lived assets | $ 3,118 | $ 3,421 |