Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Jun. 30, 2023 | Aug. 07, 2023 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 000-24248 | |
Entity Registrant Name | GENASYS INC. | |
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 | |
16262 West Bernardo Drive, San Diego, California | 92127 | |
City Area Code | 858 | |
Local Phone Number | 676-1112 | |
Title of 12(b) Security | Common stock, $0.00001 par value per share | |
Trading Symbol | GNSS | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding (in shares) | 37,181,071 | |
Entity Central Index Key | 0000924383 | |
Current Fiscal Year End Date | --09-30 | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2023 | Sep. 30, 2022 |
ASSETS | ||
Cash and cash equivalents | $ 2,971 | $ 12,736 |
Short-term marketable securities | 3,549 | 6,397 |
Restricted cash | 755 | 100 |
Accounts receivable, net of allowance for doubtful accounts of $181 | 10,353 | 6,744 |
Inventories, net | 7,950 | 6,008 |
Prepaid expenses and other | 1,683 | 3,577 |
Total current assets | 27,261 | 35,562 |
Long-term marketable securities | 392 | 781 |
Long-term restricted cash | 96 | 823 |
Deferred tax assets, net | 7,399 | 7,373 |
Property and equipment, net | 1,666 | 1,757 |
Goodwill | 10,348 | 10,118 |
Intangible assets, net | 8,958 | 10,505 |
Operating lease right of use assets | 4,094 | 4,541 |
Other assets | 547 | 394 |
Total assets | 60,761 | 71,854 |
Current liabilities: | ||
Accounts payable | 3,324 | 2,334 |
Accrued liabilities | 8,182 | 12,083 |
Operating lease liabilities, current portion | 998 | 948 |
Total current liabilities | 12,504 | 15,365 |
Other liabilities, noncurrent | 116 | 907 |
Operating lease liabilities, noncurrent | 4,551 | 5,189 |
Total liabilities | 17,171 | 21,461 |
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; 37,181,071 and 36,611,240 shares issued and outstanding, respectively | 0 | 0 |
Additional paid-in capital | 110,013 | 108,551 |
Accumulated deficit | (65,999) | (57,366) |
Accumulated other comprehensive loss | (424) | (792) |
Total stockholders' equity | 43,590 | 50,393 |
Total liabilities and stockholders' equity | $ 60,761 | $ 71,854 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2023 | Sep. 30, 2022 |
Accounts Receivable, Allowance for Credit Loss, Current | $ 181 | $ 181 |
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, $0.00001 par value; 100,000,000 shares authorized; 36,984,295 and 36,611,240 shares issued and outstanding, respectively (in dollars per share) | $ 0.00001 | $ 0.00001 |
Common Stock, Shares Authorized (in shares) | 100,000,000 | 100,000,000 |
Common Stock, Shares, Outstanding (in shares) | 37,181,071 | 36,611,240 |
Common Stock, Shares, Issued (in shares) | 37,181,071 | 36,611,240 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Revenues: | ||||
Product sales | $ 14,262 | $ 14,152 | $ 35,962 | $ 37,997 |
Cost of revenues | 7,567 | 7,289 | 19,510 | 18,654 |
Gross profit | 6,695 | 6,863 | 16,452 | 19,343 |
Operating expenses | ||||
Selling, general and administrative | 6,004 | 5,785 | 18,443 | 16,794 |
Research and development | 2,141 | 1,707 | 6,357 | 5,314 |
Total operating expenses | 8,145 | 7,492 | 24,800 | 22,108 |
Loss from operations | (1,450) | (629) | (8,348) | (2,765) |
Other income (expense), net | 1 | 9 | (4) | 12 |
Loss before income taxes | (1,449) | (620) | (8,352) | (2,753) |
Income tax expense (benefit) | (26) | (31) | (18) | (367) |
Net loss | $ (1,423) | $ (589) | $ (8,334) | $ (2,386) |
Net loss per common share - basic and diluted (in dollars per share) | $ (0.04) | $ (0.02) | $ (0.23) | $ (0.07) |
Weighted average common shares outstanding: | ||||
Basic and diluted (in shares) | 37,053,196 | 36,566,900 | 36,855,014 | 36,459,179 |
Product [Member] | ||||
Revenues: | ||||
Product sales | $ 12,593 | $ 12,904 | $ 31,651 | $ 34,328 |
Service [Member] | ||||
Revenues: | ||||
Product sales | $ 1,669 | $ 1,248 | $ 4,311 | $ 3,669 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Net loss | $ (1,423) | $ (589) | $ (8,334) | $ (2,386) |
Unrealized gain (loss) on marketable securities | 21 | (12) | 71 | (81) |
Unrealized foreign currency (loss) gain | 0 | (440) | 297 | (457) |
Comprehensive loss | $ (1,402) | $ (1,041) | $ (7,966) | $ (2,924) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Operating Activities: | ||
Net loss | $ (8,334) | $ (2,386) |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 1,918 | 1,920 |
Amortization of debt issuance costs | 8 | 14 |
Warranty provision | 54 | 38 |
Inventory obsolescence | 184 | 174 |
Stock-based compensation | 1,329 | 1,650 |
Deferred income taxes | (26) | (369) |
Amortization of operating lease right of use asset | 577 | 543 |
Accretion of acquisition holdback liability | 36 | 36 |
Changes in operating assets and liabilities: | ||
Accounts receivable, net | (3,570) | 1,964 |
Inventories, net | (2,127) | (2,563) |
Prepaid expenses and other | 1,755 | 1,049 |
Accounts payable | 955 | 371 |
Accrued and other liabilities | (5,581) | (3,012) |
Net cash used in operating activities | (12,822) | (571) |
Investing Activities: | ||
Purchases of marketable securities | (3,641) | (5,287) |
Proceeds from maturities of marketable securities | 6,949 | 5,492 |
Capital expenditures | (229) | (191) |
Net cash provided by (used in) investing activities | 3,079 | 14 |
Financing Activities: | ||
Proceeds from exercise of stock options | 87 | 253 |
Repurchase of common stock | 0 | (998) |
Payments on promissory notes | 0 | (277) |
Net cash provided by (used in) financing activities | (165) | (1,092) |
Effect of foreign exchange rate on cash | 71 | (85) |
Net decrease in cash, cash equivalents, and restricted cash | (9,837) | (1,734) |
Cash, cash equivalents and restricted cash, beginning of period | 13,659 | 14,528 |
Cash, cash equivalents and restricted cash, end of period | 3,822 | 12,794 |
Cash and cash equivalents | 2,971 | 11,723 |
Restricted cash, current portion | 755 | 100 |
Long-term restricted cash | 96 | 971 |
Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows | 3,822 | 12,794 |
Noncash investing and financing activities: | ||
Change in unrealized loss on marketable securities | 71 | (81) |
Obligation to issue common stock in connection with the Amika Mobile asset purchase | (416) | (832) |
Initial measurement of operating lease right of use assets | 79 | 7 |
Initial measurement of operating lease liabilities | 79 | 7 |
Shares surrendered from stock option exercises | 300 | 0 |
Restricted Stock Units (RSUs) [Member] | ||
Financing Activities: | ||
Shares retained for payment of taxes | (45) | (70) |
Share-Based Payment Arrangement, Option [Member] | ||
Financing Activities: | ||
Shares retained for payment of taxes | $ (207) | $ 0 |
Note 1 - Operations
Note 1 - Operations | 9 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. OPERATIONS Genasys Inc. (the “Company”) is a global provider of critical communications software solutions and hardware systems designed to alert, inform, and protect communities and organizations. The Genasys Protect™ unified platform collects information on developing and active emergency situations from a wide variety of sensors and inputs and empowers governments, businesses, and organizations to deliver real-time, geo-targeted notifications and information to people in harm’s way before, during, and after public safety and enterprise threats. |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation and Significant Accounting Policies | 9 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Basis of Presentation and Significant Accounting Policies [Text Block] | 2. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES General The Company’s unaudited interim condensed consolidated financial statements included herein have been prepared in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X and the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. In management’s opinion, the accompanying financial statements reflect adjustments necessary to present fairly the financial position, results of operations, and cash flows for those periods indicated, and contain adequate disclosure to make the information presented not misleading. Adjustments included herein are of a normal, recurring nature unless otherwise disclosed in the footnotes. The condensed consolidated financial statements and notes thereto should be read in conjunction with the Company’s audited financial statements and notes thereto for the year ended September 30, 2022, included in the Company’s Annual Report on Form 10-K, as filed with the SEC on December 16, 2022. The accompanying condensed consolidated balance sheet as of September 30, 2022, has been derived from the audited consolidated balance sheet as of September 30, 2022, contained in the above referenced Form 10-K. Results of operations for interim periods are not necessarily indicative of the results of operations for a full year. Principles of consolidation The Company has eight two Cash, cash equivalents and restricted cash The Company considers all highly liquid investments with an original maturity of three months or less, when purchased, to be cash equivalents. As of June 30, 2023, the amount of cash and cash equivalents was $2,971. As of September 30, 2022, the amount of cash and cash equivalents was $12,736. 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 expected to be released and available for use in operations within one year. As of June 30, 2023, the current portion of restricted cash was $755, and the noncurrent portion was $96. As of September 30, 2022, the current portion of restricted cash was $100, and the noncurrent portion was $823. Reclassifications Where necessary, certain prior year’s information has been reclassified to conform to the current year presentation. |
Note 3 - Recent Accounting Pron
Note 3 - Recent Accounting Pronouncements | 9 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | 3. RECENT ACCOUNTING PRONOUNCEMENTS New pronouncements pending adoption In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-13, Measurement of Credit Losses on Financial Instruments Financial Instruments Credit Losses (ASC 326), Derivatives and Hedging (ASC 815) and Leases (ASC 842) |
Note 4 - Revenue Recognition
Note 4 - Revenue Recognition | 9 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 4. REVENUE RECOGNITION ASC 606, Revenue from Contracts with Customers 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 ASC 606 requires revenue recognition to depict the transfer of promised goods or services to customers in an amount that reflects the consideration a company expects to receive in exchange for those goods or services. The Company derives its revenue from the sale of products to customers, contracts, software 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 continuing managerial involvement usually associated with ownership of the goods is retained, no effective control over the goods sold is retained, the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transactions will flow to the Company and the costs incurred or to be incurred in respect of the transaction can be measured reliably. Software license revenue, maintenance and/or software development service fees may be bundled in one arrangement or may be sold separately. 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 the Company’s 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 inventory. The Company’s customers do not have a right to return product unless the product is found defective and therefore the Company’s estimate for returns has historically been insignificant. 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-year maintenance and support services. In addition, the Company sells maintenance services on a stand-alone basis and is therefore capable of determining their fair value. On this basis, the amount of the embedded maintenance is separated from the fee for the perpetual license and is recognized on a straight-line basis over the period to which the maintenance relates. Time-based licensed software The time-based license agreements include the use of a software license for a fixed term, generally one-year, and maintenance and support services during the same period. The Company does not sell time-based licenses without maintenance and support services and therefore revenues for the entire arrangements are recognized on a straight-line basis over the term. 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 to several years, which provide repair and maintenance services after expiration of the original one-year warranty term. Revenues from separately priced extended warranty and maintenance contracts are recognized based on time elapsed over the service period and classified as contract and other revenues. Revenue from other services such as training or installation is recognized when the service is completed. 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 include maintenance and support (included in the price of perpetual licenses) and time-based licenses (that include embedded maintenance and support, both of which may be sold with software development services, training, and other product sales). In some cases, the Company delivers software development services bundled with the sale of the software. In multiple element arrangements, the Company uses either the stand-alone selling price or an expected cost-plus margin approach to determine the fair value of each element within the arrangement, including software and software-related services such as maintenance and support. In general, elements in such arrangements are also sold on a stand-alone basis and stand-alone selling prices are available. 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 unbundled. When software development services are performed and are considered essential to the functionality of the software, the Company recognizes revenue from the software development services on a stage of completion basis, and the revenue from the software when the related development services have been completed. The Company disaggregates revenue by reporting segment (Hardware and Software) and geographically to depict the nature of revenue in a manner consistent with its business operations and to be consistent with other communications and public filings. Refer to Note 18, Segment Information and Note 19, Major Customers, Suppliers and Related Information for additional details of revenues by reporting segment and disaggregation of revenue. 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 and, at times, recognizes revenue in advance of the time when contracts give the Company the right to invoice a customer. Sales commissions are considered incremental and recoverable costs of obtaining a contract with a customer. Subscription related commission costs are deferred and then amortized on a straight-line basis over the period of benefit. The Company may also receive consideration, per terms of a contract, from customers prior to transferring goods to the customer. The Company records customer deposits as a contract liability. Additionally, the Company may receive payments, most typically for service and warranty contracts, at the onset of the contract and before the services have been performed. In such instances, a deferred revenue liability is recorded. The Company recognizes these contract liabilities as revenue after all revenue recognition criteria are met. The table below reflects the balances of contract liabilities as of June 30, 2023, and September 30, 2022, including the change between the periods. There were no The Company’s contract liabilities were as follows: Customer deposits Deferred revenue Total contract liabilities Balance as of September 30, 2022 $ 4,724 $ 2,054 $ 6,778 New performance obligations 8,606 2,414 11,020 Recognition of revenue as a result of satisfying performance obligations (11,375 ) (2,289 ) (13,664 ) Effect of exchange rate on deferred revenue 2 31 33 Balance as of June 30, 2023 $ 1,957 $ 2,210 $ 4,167 Less: non-current portion - (116 ) (116 ) Current portion as of June 30, 2023 $ 1,957 $ 2,094 $ 4,051 Remaining performance obligations Remaining performance obligations related to ASC 606 represent the aggregate transaction price allocated to performance obligations under an original contract with a term greater than one year, which are fully or partially unsatisfied at the end of the period. As of June 30, 2023, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $4,167. The Company expects to recognize revenue on approximately $4,051 or 97% of the remaining performance obligations over the next 12 months, and the remainder is expected to be recognized thereafter. 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 year. The Company only gives consideration to whether a customer agreement has a financing component if the period of time between transfer of goods and services and customer payment is greater than one year. The Company also utilizes the “as invoiced” practical expedient in certain cases where performance obligations are satisfied over time and the invoiced amount corresponds directly with the value the Company is providing to the customer. |
Note 5 - Fair Value Measurement
Note 5 - Fair Value Measurements | 9 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 5. FAIR VALUE MEASUREMENTS The Company’s financial instruments consist principally of cash equivalents, restricted cash, 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 the inputs are observable in the market and the degree that the inputs are observable. The categorization of financial instruments within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The hierarchy is prioritized into three levels (with Level 3 being the lowest) defined as follows: 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 active near the measurement date. 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 and Level 2 inputs. The valuation techniques used to measure the fair value of the “Level 2” instruments were based on quoted market prices or model-driven valuations using significant inputs derived from or corroborated by observable market data. The Company believes that the recorded values of its other financial instruments approximate their current fair values because of their nature and respective relatively short maturity dates or durations. The Company did not Instruments measured at fair value on a recurring basis Cash equivalents and marketable securities June 30, 2023 Cost Basis Unrealized Loss Fair Value Cash Equivalents Short-term Securities Long-term Securities Level 1: Money market funds $ 795 $ - $ 795 $ 795 $ - $ - Level 2: Certificates of deposit 302 - 302 - - 302 Municipal securities 2,747 (12 ) 2,735 - 2,645 90 Corporate bonds 911 (7 ) 904 - 904 - Subtotal 3,960 (19 ) 3,941 - 3,549 392 Total $ 4,755 $ (19 ) $ 4,736 $ 795 $ 3,549 $ 392 September 30, 2022 Cost Basis Unrealized Loss Fair Value Cash Equivalents Short-term Securities Long-term Securities Level 1: Money market funds $ 1,316 $ - $ 1,316 $ 1,316 $ - $ - Level 2: Certificates of deposit 800 - 800 - 498 302 Municipal securities 4,066 (65 ) 4,001 - 3,772 229 Corporate bonds 2,402 (25 ) 2,377 - 2,127 250 Subtotal 7,268 (90 ) 7,178 - 6,397 781 Total $ 8,584 $ (90 ) $ 8,494 $ 1,316 $ 6,397 $ 781 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 inputs. The Company estimates the fair value of these long-lived assets on a non-recurring basis based on a market valuation approach, engaging independent valuation experts to assist in the determination of fair value. Holdback Liability three Balance as of September 30, 2022 $ 680 Accretion 36 Currency translation 26 Balance as of June 30, 2023 $ 742 |
Note 6 - Inventories, Net
Note 6 - Inventories, Net | 9 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 6. INVENTORIES, NET Inventories, net consisted of the following: June 30, September 30, 2023 2022 Raw materials $ 6,387 $ 5,277 Finished goods 894 844 Work in process 1,449 744 Inventories, gross 8,730 6,865 Reserve for obsolescence (780 ) (857 ) Inventories, net $ 7,950 $ 6,008 |
Note 7 - Property and Equipment
Note 7 - Property and Equipment, Net | 9 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 7. PROPERTY AND EQUIPMENT, NET Property and equipment, net consisted of the following: June 30, September 30, 2023 2022 Office furniture and equipment $ 1,594 $ 1,432 Machinery and equipment 1,441 1,391 Leasehold improvements 2,302 2,172 Construction in progress - 104 Property and equipment, gross 5,337 5,099 Accumulated depreciation (3,671 ) (3,342 ) Property and equipment, net $ 1,666 $ 1,757 Depreciation and amortization expense for property and equipment was $111 and $101 for the three months ended June 30, 2023 and 2022, respectively. Depreciation and amortization expense for property and equipment was $335 and $299 for the nine months ended June 30, 2023 and 2022, respectively. |
Note 8 - Goodwill and Intangibl
Note 8 - Goodwill and Intangible Assets | 9 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 8. GOODWILL AND INTANGIBLE ASSETS 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. In the fourth quarter of fiscal 2022, in conjunction with the annual impairment assessment, the Company determined that the fair value of the software reporting unit was less than the carrying value. The Company engaged independent valuation experts to assist in determining the fair value of the software reporting unit and recorded a $13,162 goodwill impairment charge. As of June 30, 2023, and September 30, 2022, goodwill was $10,348 and $10,118 respectively. There were no additions or impairments to goodwill during the nine months ended June 30, 2023. The changes in the carrying amount of goodwill by segment for the nine months ended June 30, 2023, were as follows: Hardware Software Total Balance as of September 30, 2022 $ - $ 10,118 $ 10,118 Currency translation - 230 230 Balance as of June 30, 2023 $ - $ 10,348 $ 10,348 The changes in the carrying amount of intangible assets by segment for the nine months ended June 30, 2023, were as follows: Hardware Software Total Balance as of September 30, 2022 $ 21 $ 10,484 $ 10,505 Amortization (3 ) (1,580 ) (1,583 ) Currency translation - 36 36 Balance as of June 30, 2023 $ 18 $ 8,940 $ 8,958 Intangible assets and goodwill related to Genasys Spain are translated from Euros 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 an increase of $266. The Company’s consolidated intangible assets consisted of the following: June 30, September 30, 2023 2022 Technology $ 11,947 $ 11,886 Customer relationships 1,807 1,715 Trade name portfolio 611 590 Non-compete agreements 229 206 Patents 72 72 14,666 14,469 Accumulated amortization (5,708 ) (3,964 ) $ 8,958 $ 10,505 As of June 30, 2023, future amortization expense is as follows: Fiscal year ending September 30, 2023 (remaining three months) $ 525 2024 2,099 2025 1,979 2026 1,842 2027 1,669 Thereafter 844 Total estimated amortization expense $ 8,958 Amortization expense was $525 and $537 for the three months ended June 30, 2023 and 2022, respectively. Amortization expense was $1,583 and $1,621 for the nine months ended June 30, 2023 and 2022, respectively. |
Note 9 - Prepaid Expenses and O
Note 9 - Prepaid Expenses and Other | 9 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Prepaid Expenses And Other Disclosure [Text Block] | 9. PREPAID EXPENSES AND OTHER Prepaid expenses and other current assets consisted of the following: June 30, September 30, 2023 2022 Deposits for inventory $ 284 $ 461 Prepaid insurance 285 360 Dues and subscriptions 234 182 Prepaid commissions 406 228 Trade shows and travel 73 471 Canadian goods and services and harmonized sales tax receivable 148 1,631 Other 253 244 $ 1,683 $ 3,577 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 consisted 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 commissions Prepaid commissions represented 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 typically between three five Trade shows and travel Trade shows and travel consisted of payments made in advance for trade show events. Canadian goods and services and harmonized sales tax receivable The goods and services tax and harmonized sales tax (“GST/HST”) is a Canadian value-added tax that applies to many goods and services. Registrants may claim refundable tax credits for GST/HST incurred through filing periodic tax returns. This GST/HST receivable is a receivable from the Canadian Revenue Agency. |
Note 10 - Accrued and Other Lia
Note 10 - Accrued and Other Liabilities | 9 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Current and Noncurrent Accrued Liabilities [Text Block] | 10. ACCRUED AND OTHER LIABILITIES Accrued liabilities consisted of the following: June 30, September 30, 2023 2022 Payroll and related $ 2,539 $ 3,003 Deferred revenue 2,094 1,827 Customer deposits 1,957 4,724 Accrued contract costs 672 809 Warranty reserve 153 159 Canadian goods and services and harmonized sales tax payable - 1,556 Asset purchase holdback liability 742 - Other 25 5 Total $ 8,182 $ 12,083 Other liabilities-noncurrent consisted of the following: June 30, September 30, 2023 2022 Deferred revenue $ 116 $ 227 Asset purchase holdback liability - 680 Total $ 116 $ 907 Payroll and related Payroll and related consisted primarily of accrued vacation, bonus, sales commissions and benefits. Deferred revenue Deferred revenue as of June 30, 2023, included prepayments from customers for services, including extended warranty, scheduled to be performed in the twelve months ending June 30, 2024. Customer deposits Customer deposits represent amounts paid by customers as a down payment on hardware orders to be delivered in the twelve months ending June 30, 2024. Accrued contract costs Accrued contract costs consisted of accrued expenses for contracting a third-party service provider to fulfill repair and maintenance obligations required under a contract with a foreign military for units sold in the year ended September 30, 2011. Payments to the service provider will be made annually upon completion of each year of service. A new contract was signed with the customer in May 2019 to continue repair and maintenance services through May 2024. These services are being recorded in cost of revenues to correspond with the revenues for these services. 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-party claims. Adjustments of up to CAD$1,000 (USD$755) will be deducted from the asset purchase holdback liability for up to three years from the closing date. The liability is recorded at fair value in the condensed consolidated balance sheet. Warranty reserve Changes in the warranty reserve and extended warranty were as follows: June 30, September 30, 2023 2022 Beginning balance $ 159 $ 146 Warranty provision 57 86 Warranty settlements (63 ) (73 ) Ending balance $ 153 $ 159 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 consisted of warranties purchased in excess of the Company’s standard warranty. Extended warranties typically range from one two |
Note 11 - Debt
Note 11 - Debt | 9 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 11. DEBT Revolving line of credit On March 8, 2021, the Company entered into an agreement with MUFG Union Bank, N.A. for a $10 million revolving line of credit. Outstanding balances on the revolving line of credit bore interest at a per annum rate equal to the London Interbank Offered Rate (“LIBOR”) plus 2.25%. The agreement contained a provision for determining an alternative interest rate index in the event the LIBOR rate is no longer available. The agreement contained standard covenants, including affirmative financial covenants, such as the maintenance of a short-term liquidity ratio and a senior leverage ratio, in addition to negative covenants which limit the incurrence of additional indebtedness, loans and equity investments, disposition of assets, mergers and consolidations and other matters customarily restricted in such agreements. The maturity date of this revolving line of credit was March 31, 2023. The Company did not renew the revolving line of credit and there were no borrowings on the revolving line of credit. The Company incurred and capitalized $38 of issuance costs related to this revolving line of credit. These issuance costs were recorded in prepaid expenses and other assets in the condensed consolidated balance sheet and were amortized on a straight-line basis over the term of the loan. |
Note 12 - Leases
Note 12 - Leases | 9 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 12. LEASES The Company determines if an arrangement is a lease at inception. The guidance in ASC 842 defines a lease as a contract, or part of a contract, that conveys the right to control the use of identified property, plant, or equipment (an identified asset) for a period of time in exchange for consideration. Operating lease ROU assets and lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at commencement date. The Company’s leases do not provide an implicit rate. The Company uses its incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. Additionally, the portfolio approach is used in determining the discount rate used to present value lease payments. The ROU asset includes any lease payments made and excludes lease incentives and initial direct costs incurred. The Company is party to operating leases for office and production facilities and equipment under agreements that expire at various dates through 2028. The Company elected the package of practical expedients permitted under the lease standard. In electing the practical expedient package, the Company is not required to reassess whether an existing or expired contract is or contains a lease, reassess the lease classification for expired or existing leases nor reassess the initial direct costs for leases that commenced before the adoption of ASC 842. The Company also elected the short-term lease exemption such that the lease standard was applied to leases greater than one year in duration. Leases with an initial term of twelve months or less are not recorded on the balance sheet. The Company recognizes lease expense for these leases on a straight-line basis over the lease term. The tables below show the operating lease ROU assets and liabilities as of September 30, 2022, and the balances as of June 30, 2023, including the changes during the periods. Operating lease ROU assets Operating lease ROU assets as of September 30, 2022 $ 4,541 Additional operating lease ROU assets 79 Less amortization of operating lease ROU assets (577 ) Effect of exchange rate on operating lease ROU assets 51 Operating lease ROU assets as of June 30, 2023 $ 4,094 Operating lease liabilities Operating lease liabilities as of September 30, 2022 $ 6,137 Additional operating lease liabilities 79 Less lease principal payments on operating lease liabilities (719 ) Effect of exchange rate on operating lease liabilities 52 Operating lease liabilities as of June 30, 2023 5,549 Less non-current portion (4,551 ) Current portion as of June 30, 2023 $ 998 As of June 30, 2023, the Company’s operating leases have a weighted-average remaining lease term of 5.0 years and a weighted-average discount rate of 4.15%. The maturities of the operating lease liabilities are as follows: Fiscal year ending September 30, 2023 (remaining three months) $ 301 2024 1,210 2025 1,185 2026 1,198 2027 1,220 Thereafter 1,046 Total undiscounted operating lease payments 6,160 Less: imputed interest (611 ) Present value of operating lease liabilities $ 5,549 For the three months ended June 30, 2023 and 2022, total lease expense under operating leases was approximately $250 and $245, respectively. For the nine months ended June 30, 2023 and 2022, total lease expense under operating leases was approximately $753 and $735, respectively. The Company recorded $9 in short-term lease expense during the three and nine months ended June 30, 2023. The Company did not |
Note 13 - Income Taxes
Note 13 - Income Taxes | 9 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 13. INCOME TAXES For the nine months ended June 30, 2023, the Company recorded an income tax benefit of $18 related to a prior year foreign income tax expense true-up. For the nine months ended June 30, 2023, the Company did not record an income tax benefit for the tax loss, as the benefits are not expected to be realized during the current fiscal year through ordinary income generated during the third and fourth quarters or in a future year through recognition of a deferred tax asset. For the nine months ended June 30, 2022, the Company recorded an income tax benefit of $367 reflecting an effective tax rate of 28.6%. The Company expects to utilize its 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. ASC 740, Income Taxes |
Note 14 - Commitments and Conti
Note 14 - Commitments and Contingencies | 9 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 14. COMMITMENTS AND CONTINGENCIES Litigation The Company may at times be involved in litigation in the ordinary course of business. The Company will, from time to time, when appropriate in the Company’s estimation, record adequate reserves in the Company’s consolidated financial statements for pending litigation. Currently, there are no pending material legal proceedings to which the Company is a party or to which any of its property is subject. 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. In the nine months ended June 30, 2023, the Company recorded $762 of bonus expense. In the nine months ended June 30, 2022, the Company recorded $1,483 of bonus expense. 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-party claims. Adjustments of up to CAD$1,000 (USD$755) will be deducted from the asset purchase holdback liability for up to three The Company also agreed to issue 191,267 shares of the Company’s common stock to the former owners of Amika Mobile on each of the first, second and third anniversaries of the closing date. The total number of shares of common stock the Company is obligated to issue is 573,801. The fair value of the Company’s common stock on the closing date was $5.98 per share, resulting in the addition of $3,431 to additional paid-in-capital. During the year ended September 30, 2021, the Company accelerated the issuance of 365,109 of such shares of common stock to a former owner of the Amika Mobile assets. During the year ended September 30, 2022, the Company issued 69,564 shares to the former owners of the Amika Mobile assets. During the nine months ended June 30, 2023, the Company issued 69,564 shares to the former owners of the Amika Mobile assets. There are 69,564 remaining shares of the Company’s common stock subject to issuance under this obligation. |
Note 15 - Share-based Compensat
Note 15 - Share-based Compensation | 9 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 15. SHARE-BASED COMPENSATION Stock option plans The Amended and Restated 2015 Equity Incentive Plan (“2015 Equity Plan”) was adopted by the Company’s Board of Directors on December 6, 2016, and approved by the Company’s stockholders on March 14, 2017. The 2015 Equity Plan was amended by the Company’s Board of Directors on December 8, 2020, to increase the number of shares authorized for issuance from 5,000,000 to 10,000,000. On March 16, 2021, the Company’s stockholders approved the plan amendment. The 2015 Equity Plan authorizes the issuance of stock options, restricted stock, stock appreciation rights, restricted stock units (“RSUs”) and performance awards, to an aggregate of 10,000,000 new shares of common stock to employees, directors, advisors or consultants. As of June 30, 2023, there were options and restricted stock units outstanding covering 3,673,201 shares of common stock under the 2015 Equity Plan, respectively, and 2,821,827 shares of common stock available for grant, for a total of 6,495,028 shares of common stock authorized and unissued under the two equity plans. Share-based compensation The Company’s employee 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. Share-based compensation is accounted for in accordance with ASC Topic 718: Compensation - Stock Compensation There were 1,849,500 stock options granted during the nine months ended June 30, 2023, of which 225,000 vest based on a market condition. There were 322,000 stock options granted during the nine months ended June 30, 2022, none of which vest based on a market condition. Stock options that do not contain market-based vesting conditions are valued using the Black-Scholes option pricing model. The weighted average estimated fair value of employee stock options granted, that vest without a market condition, during the nine months ended June 30, 2023 and 2022, was calculated with the following weighted average assumptions (annualized percentages): Nine months ended June 30, 2023 2022 Volatility 52.1 % 48.1 % Risk-free interest rate 4.0 % 1.5 % Dividend yield 0.0 % 0.0 % Expected term in years 5.8 6.8 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 For stock options that contain market-based vesting conditions, the fair value of these options was determined using a Monte Carlo valuation approach and calculated by an independent valuation specialist. As of June 30, 2023, there was approximately $1,804 of total unrecognized compensation costs related to outstanding employee stock options. This amount is expected to be recognized over a weighted average period of 2.2 years. To the extent the forfeiture rate is different from what the Company anticipated, stock-based compensation related to these awards will be different from the Company’s expectations. Performance-based stock options On October 4, 2019, the Company awarded a performance-based stock option (PVO) to purchase 800,000 shares of the Company’s common stock to a key executive, with a contractual term of seven not On October 8, 2022, the Company awarded additional performance-based stock options to purchase 800,000 shares of the Company’s common stock to the same key executive, with a contractual term of seven years. Vesting is based upon the achievement of certain performance criteria for each of fiscal 2025 and 2026 including a minimum free cash flow margin and net revenue targets. Additionally, vesting is subject to the executive being employed by the Company at the time the Company achieves such financial targets. The Company did not record compensation expense related to these options for the nine months ended June 30, 2023. On August 10, 2022, the Company granted PVOs to purchase up to 750,000 shares of the Company’s common stock to a key member of management, with a contractual term of seven On March 20, 2023, the Company granted PVOs to purchase up to 450,000 shares of the Company’s stock to a key member of management with a contractual term of seven The Company did not grant any PVOs during the nine months ended June 30, 2022. Restricted stock units In fiscal 2020, 81,270 RSUs were granted to employees that vested over three years on the anniversary date of the grant. These were issued at a market value of $258 and have been expensed on a straight-line basis over the three-year During fiscal 2021, 145,950 RSUs were granted to employees that will vest over three years on the anniversary date of the grant. These were issued at a market value of $989, which have and will be expensed on a straight-line basis over the three-year On March 15, 2022, each non-employee member of the Board of Directors received a grant of 30,000 RSUs that vested on the first anniversary of the grant date. These were issued at a market value of $407, and expensed on a straight-line basis through the March 15, 2023, vest date. On November 1, 2021, 10,000 RSUs were granted to a non-employee advisor that vested on the first anniversary of the grant date. These were issued at a market value of $51, which were expensed on a straight-line basis though the November 1, 2022, vest date. On November 1, 2022, 10,000 RSUs were granted to a non-employee advisor that vest on the first anniversary of the grant date. These were issued at a market value of $29, which have and will be expensed on a straight-line basis though the November 1, 2023, vest date. On March 14, 2023, each non-employee member of the Board of Directors received a grant of 30,000 RSUs that will vest on the first anniversary of the grant date. These RSUs were granted at a market value of $417 and have and will be expensed on a straight-line basis through the March 14, 2024, vest date. On February 14, 2023, 145,600 RSUs were granted to employees that will vest over three years on the anniversary date of the grant. These RSUs were issued at a market value of $582, which have and will be expensed on a straight-line basis over the three-year Compensation expense for RSUs was $211 and $759 for the three and nine months ended June 30, 2023, respectively. Compensation expense for RSUs was $193 and $1,216 for the three and nine months ended June 30, 2022, respectively. As of June 30, 2023, there was approximately $1,204 of total unrecognized compensation costs related to outstanding RSUs. This amount is expected to be recognized over a weighted average period of 1.6 years. A summary of the Company’s RSUs as of June 30, 2023, is presented below: Number of Shares Weighted Average Grant Date Fair Value Outstanding September 30, 2022 342,841 $ 4.11 Granted 295,600 $ 3.63 Released (253,012 ) $ 3.73 Forfeited/cancelled - $ - Outstanding June 30, 2023 385,429 $ 3.99 Stock option summary information A summary of the activity in options to purchase the capital stock of the Company as of June 30, 2023, is presented below: Number of Shares Weighted Average Exercise Price Outstanding September 30, 2022 3,940,899 $ 3.31 Granted 1,849,500 $ 2.93 Forfeited/expired (1,480,362 ) $ 3.98 Exercised (1,022,265 ) $ 1.96 Outstanding June 30, 2023 3,287,772 $ 3.21 Exerciseable June 30, 2023 817,726 $ 3.41 Options outstanding are exercisable at prices ranging from $1.51 to $8.03 per share and expire over the period from 2023 to 2030 with an average life of 5.16 years. The aggregate intrinsic value of options outstanding and exercisable as of June 30, 2023, was $138. The aggregate intrinsic value represents the difference between the Company’s closing stock price on the last day of trading for the quarter, which was $2.60 per share, and the exercise price multiplied by the number of applicable options. The total intrinsic value of stock options exercised during the nine months ended June 30, 2023 was $762 and proceeds from these exercises was $87. The total intrinsic value of stock options exercised during the nine months ended June 30, 2022 was $191 and proceeds from these exercises was $253. The following table summarized information about stock options outstanding as of June 30, 2023: Range of Number Weighted Average Remaining Contractual Weighted Average Exercise Number Weighted Average Exercise Exercise Prices Outstanding Term Price Exercisable Price $1.51 - $2.64 189,157 1.88 $ 1.88 159,157 $ 1.73 $2.69 - $2.69 1,100,000 6.27 $ 2.69 - $ - $3.09 - $3.39 1,160,388 4.93 $ 3.33 192,138 $ 3.39 $3.40 - $8.03 838,227 4.76 $ 4.04 466,431 $ 3.99 3,287,772 5.16 $ 3.21 817,726 $ 3.41 The Company recorded $181 and $162 of stock option compensation expense for employees, directors and consultants for the three months ended June 30, 2023 and 2022, respectively. The Company recorded $566 and $434 of stock option compensation expense for employees, directors and consultants for the nine months ended June 30, 2023 and 2022, respectively. Share-based compensation The Company recorded share-based compensation expense and classified it in the condensed consolidated statements of operations as follows: Three Months Ended Nine Months Ended June 30, June 30, 2023 2022 2023 2022 Cost of revenues $ 19 $ 10 $ 80 $ 53 Selling, general and administrative 351 327 1,171 1,544 Research and development 26 18 78 53 $ 396 $ 355 $ 1,329 $ 1,650 |
Note 16 - Stockholders' Equity
Note 16 - Stockholders' Equity | 9 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | 16. STOCKHOLDERS EQUITY Summary The following table summarizes changes in the components of stockholders’ equity during the nine months ended June 30, 2023, and the nine months ended June 30, 2022 (amounts in thousands, except par value and share amounts): Accumulated Common Stock Additional Other Total Shares Par Value Amount Paid-in Capital Accumulated Deficit Comprehensive Loss Stockholders' Equity Balance as of September 30, 2022 36,611,240 $ 366 $ 108,551 $ (57,366 ) $ (792 ) $ 50,393 Share-based compensation expense - - 420 - - 420 Issuance of common stock upon exercise of stock options, net 20,000 - 32 - - 32 Issuance of common stock upon vesting of restricted stock units 12,667 - - - - - Release of obligation to issue commons stock 69,564 1 - - - Accumulated other comprehensive income - - - - 266 266 Net loss - - - (3,507 ) (3,507 ) Balance as of December 31, 2022 36,713,471 367 $ 109,003 $ (60,873 ) $ (526 ) $ 47,604 Share-based compensation expense - - 513 - - 513 Issuance of common stock upon exercise of stock options, net 33,765 1 54 - - 54 Issuance of common stock upon cashless exercise of stock options, net 15,914 - - - - - Issuance of common stock upon vesting of restricted stock units 232,761 2 (2 ) - - (2 ) Shares retained for payment of taxes in connection with net share settlement of restricted stock units (11,616 ) - (45 ) - - (45 ) Accumulated other comprehensive income - - - - 81 81 Net loss - - - (3,403 ) - (3,403 ) Balance as of March 31, 2023 36,984,295 $ 370 $ 109,523 $ (64,276 ) $ (445 ) $ 44,802 Share-based compensation expense - - 396 - - 396 Issuance of common stock upon exercise of stock options, net 1,000 - 1 - - 1 Issuance of common stock upon cashless exercise of stock options, net 372,286 4 - - - - Issuance of common stock upon vesting of restricted stock units 7,584 - - - - - Retirement of common stock (109,488 ) (1 ) 300 (300 ) - Shares retained for payment of taxes in connection with net share settlement upon exercise of stock options (74,606 ) (1 ) (207 ) - - (207 ) Accumulated other comprehensive income - - - - 21 21 Net loss - - - (1,423 ) - (1,423 ) Balance as of June 30, 2023 37,181,071 $ 372 $ 110,013 $ (65,999 ) $ (424 ) $ 43,590 Accumulated Common Stock Additional Other Total Shares Par Value Amount Paid-in Capital Accumulated Deficit Comprehensive Loss Stockholders' Equity Balance as of September 30, 2021 36,403,833 $ 364 $ 107,110 $ (41,154 ) $ 2 $ 65,958 Share-based compensation expense - - 558 - - 558 Issuance of common stock upon exercise of stock options, net 15,000 - 46 - - 46 Stock buyback (116,868 ) (1 ) (441 ) - - (441 ) Release of obligation to issue commons stock 69,564 - - - - - Accumulated other comprehensive loss - - - - (85 ) (85 ) Net loss - - - (1,305 ) - (1,305 ) Balance as of December 31, 2021 36,371,529 363 $ 107,273 $ (42,459 ) $ (83 ) $ 64,731 Share-based compensation expense - - 737 - - 737 Issuance of common stock upon exercise of stock options, net 55,000 1 124 - - 124 Issuance of common stock upon vesting of restricted stock units 262,342 2 - - - - Shares retained for payment of taxes in connection with net share settlement of restricted stock units (18,344 ) - (70 ) - - (70 ) Stock buyback (142,442 ) (1 ) (557 ) - - (557 ) Accumulated other comprehensive loss - - - - (1 ) (1 ) Net loss - - - (492 ) - (492 ) Balance as of March 31, 2022 36,528,085 365 $ 107,507 $ (42,951 ) $ (84 ) $ 64,472 Share-based compensation expense - - $ 355 - - 355 Issuance of common stock upon exercise of stock options, net 60,000 1 83 - - 83 Issuance of common stock upon vesting of restricted stock units 7,920 - - - - - Accumulated other comprehensive loss - - - - (452 ) (452 ) Net loss - - - (589 ) - (589 ) Balance as of June 30, 2022 36,596,005 $ 366 $ 107,945 $ (43,540 ) $ (536 ) $ 63,869 Common stock activity During the nine months ended June 30, 2023, the Company issued 258,871 shares of common stock and received gross proceeds of $87 in connection with the exercise of stock options, and the Company issued 253,012 shares of common stock in connection with the vesting of RSUs. During the three months ended June 30, 2023, an employee exercised 786,747 stock options in a net share settlement transaction. 565,214 shares were used as consideration for the exercise of these options and 74,606 shares were retained for taxes associated with this option exercise, resulting in 146,927 shares being issued to the employee. Also, during the three months ended June 30, 2023, an employee used 109,488 shares of common stock as consideration for the exercise of 150,753 incentive stock options. All shares of common stock surrendered for options exercises have been retired. During the nine months ended June 30, 2022, the Company issued 130,000 shares of common stock and received gross proceeds of $253 in connection with the exercise of stock options, and the Company issued 251,918 shares of common stock in connection with the vesting of RSUs. 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 owners of Amika Mobile on each of the first, second and third anniversaries of the closing date. The total number of shares of common stock the Company is obligated to issue is 573,801. The fair value of the Company’s common stock on the closing date was $5.98 per share, resulting in the addition of $3,431 to additional paid-in-capital. During the year ended September 30, 2021, the Company accelerated the issuance of 365,109 of such shares of common stock to a former owner of the Amika Mobile assets. During the year ended September 30, 2022, the Company issued 69,564 shares to the former owners of the Amika Mobile assets. During the nine months ended June 30, 2023, the Company issued 69,564 shares to the former owners of the Amika Mobile assets. There are 69,564 remaining shares of the Company’s common stock subject to issuance under this obligation. Share buyback program In December 2018, the Board of Directors approved a new share buyback program beginning January 1, 2019, and expiring on December 31, 2020, under which the Company was authorized to repurchase up to $5 million of its outstanding common shares. In December 2020, the Board of Directors extended the buyback program until December 31, 2022. In December 2022, the Board of Directors extended the Company’s share buyback program through December 31, 2024. There were no Dividends There were no |
Note 17 - Net Loss Per Share
Note 17 - Net Loss Per Share | 9 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 17. NET LOSS PER SHARE The following table sets forth the computation of basic and diluted net loss per share: Three months ended Nine months ended June 30, June 30, 2023 2022 2023 2022 Net loss $ (1,423 ) $ (589 ) $ (8,334 ) $ (2,386 ) Basic and diluted loss per share $ (0.04 ) $ (0.02 ) $ (0.23 ) $ (0.07 ) Weighted average shares outstanding - basic 37,053,196 36,566,900 36,855,014 36,459,179 Assumed exercise of dilutive options - - - - Weighted average shares outstanding - diluted 37,053,196 36,566,900 36,855,014 36,459,179 Potentially dilutive securities outstanding at period end excluded from diluted computation as the inclusion would have been antidilutive: Options 3,287,772 2,927,384 3,287,772 2,927,384 RSU 385,429 139,128 385,429 374,341 Obligation to issue common stock 69,564 374,341 69,564 139,128 Total 3,742,765 3,440,853 3,742,765 3,440,853 |
Note 18 - Segment Information
Note 18 - Segment Information | 9 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 18. SEGMENT INFORMATION The Company is engaged in the design, development and commercialization of directed and multidirectional sound technologies, voice broadcast products, and location-based mass messaging software for emergency warning and evacuation management. The Company operates in two The following table presents the Company’s segment disclosures: Three months ended Nine months ended June 30, June 30, 2023 2022 2023 2022 Revenue from external customers Hardware $ 13,324 $ 13,419 $ 33,269 $ 36,041 Software 938 733 2,693 1,956 $ 14,262 $ 14,152 $ 35,962 $ 37,997 Intersegment revenues Hardware $ - $ - $ - $ - Software 1,423 860 4,005 2,354 $ 1,423 $ 860 $ 4,005 $ 2,354 Segment operating loss Hardware $ 2,302 $ 2,495 $ 2,661 $ 6,204 Software (3,752 ) (3,124 ) (11,009 ) (8,969 ) $ (1,450 ) $ (629 ) $ (8,348 ) $ (2,765 ) Other expenses: Depreciation and amortization expense Hardware $ 97 $ 95 $ 297 $ 285 Software 539 543 1,621 1,635 $ 636 $ 638 $ 1,918 $ 1,920 Income tax expense (benefit) Hardware $ - $ (13 ) $ 8 $ 1,053 Software (26 ) (18 ) (26 ) (1,420 ) $ (26 ) $ (31 ) $ (18 ) $ (367 ) June 30, September 30, 2023 2022 Long-lived assets Hardware $ 1,529 $ 1,677 Software 9,095 10,585 $ 10,624 $ 12,262 Total assets Hardware $ 38,920 $ 47,237 Software 21,841 24,617 $ 60,761 $ 71,854 |
Note 19 - Major Customers, Supp
Note 19 - Major Customers, Suppliers and Related Information | 9 Months Ended |
Jun. 30, 2023 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 19. MAJOR CUSTOMERS, SUPPLIERS AND RELATED INFORMATION For the three months ended June 30, 2023, revenues from one one two For the three months ended June 30, 2022, revenues from one one two Revenue from customers in the United States was $12,177 and $12,631 for the three months ended June 30, 2023 and 2022, respectively. Revenue from customers in the United States was $29,526 and $31,466 for the nine months ended June 30, 2023 and 2022, respectively. The following table summarizes revenues by geographic region. Revenues are attributed to countries based on customers’ delivery location. Three months ended June 30, Nine months ended June 30, 2023 2022 2023 2022 Americas $ 13,189 $ 12,674 $ 32,371 $ 32,205 Asia Pacific 491 514 1,795 2,969 Europe, Middle East and Africa 582 964 1,796 2,823 Total Revenues $ 14,262 $ 14,152 $ 35,962 $ 37,997 The following table summarizes long-lived assets by geographic region. March 31, September 30, 2023 2022 United States $ 10,207 $ 11,800 Americas (excluding the United States) 10 16 Asia Pacific - - Europe, Middle East and Africa 407 446 $ 10,624 $ 12,262 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Jun. 30, 2023 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | General The Company’s unaudited interim condensed consolidated financial statements included herein have been prepared in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X and the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. In management’s opinion, the accompanying financial statements reflect adjustments necessary to present fairly the financial position, results of operations, and cash flows for those periods indicated, and contain adequate disclosure to make the information presented not misleading. Adjustments included herein are of a normal, recurring nature unless otherwise disclosed in the footnotes. The condensed consolidated financial statements and notes thereto should be read in conjunction with the Company’s audited financial statements and notes thereto for the year ended September 30, 2022, included in the Company’s Annual Report on Form 10-K, as filed with the SEC on December 16, 2022. The accompanying condensed consolidated balance sheet as of September 30, 2022, has been derived from the audited consolidated balance sheet as of September 30, 2022, contained in the above referenced Form 10-K. Results of operations for interim periods are not necessarily indicative of the results of operations for a full year. |
Consolidation, Policy [Policy Text Block] | Principles of consolidation The Company has eight two |
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 months or less, when purchased, to be cash equivalents. As of June 30, 2023, the amount of cash and cash equivalents was $2,971. As of September 30, 2022, the amount of cash and cash equivalents was $12,736. 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 expected to be released and available for use in operations within one year. As of June 30, 2023, the current portion of restricted cash was $755, and the noncurrent portion was $96. As of September 30, 2022, the current portion of restricted cash was $100, and the noncurrent portion was $823. |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications Where necessary, certain prior year’s information has been reclassified to conform to the current year presentation. |
Note 4 - Revenue Recognition (T
Note 4 - Revenue Recognition (Tables) | 9 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | Customer deposits Deferred revenue Total contract liabilities Balance as of September 30, 2022 $ 4,724 $ 2,054 $ 6,778 New performance obligations 8,606 2,414 11,020 Recognition of revenue as a result of satisfying performance obligations (11,375 ) (2,289 ) (13,664 ) Effect of exchange rate on deferred revenue 2 31 33 Balance as of June 30, 2023 $ 1,957 $ 2,210 $ 4,167 Less: non-current portion - (116 ) (116 ) Current portion as of June 30, 2023 $ 1,957 $ 2,094 $ 4,051 |
Note 5 - Fair Value Measureme_2
Note 5 - Fair Value Measurements (Tables) | 9 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | June 30, 2023 Cost Basis Unrealized Loss Fair Value Cash Equivalents Short-term Securities Long-term Securities Level 1: Money market funds $ 795 $ - $ 795 $ 795 $ - $ - Level 2: Certificates of deposit 302 - 302 - - 302 Municipal securities 2,747 (12 ) 2,735 - 2,645 90 Corporate bonds 911 (7 ) 904 - 904 - Subtotal 3,960 (19 ) 3,941 - 3,549 392 Total $ 4,755 $ (19 ) $ 4,736 $ 795 $ 3,549 $ 392 September 30, 2022 Cost Basis Unrealized Loss Fair Value Cash Equivalents Short-term Securities Long-term Securities Level 1: Money market funds $ 1,316 $ - $ 1,316 $ 1,316 $ - $ - Level 2: Certificates of deposit 800 - 800 - 498 302 Municipal securities 4,066 (65 ) 4,001 - 3,772 229 Corporate bonds 2,402 (25 ) 2,377 - 2,127 250 Subtotal 7,268 (90 ) 7,178 - 6,397 781 Total $ 8,584 $ (90 ) $ 8,494 $ 1,316 $ 6,397 $ 781 |
Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis [Table Text Block] | Balance as of September 30, 2022 $ 680 Accretion 36 Currency translation 26 Balance as of June 30, 2023 $ 742 |
Note 6 - Inventories, Net (Tabl
Note 6 - Inventories, Net (Tables) | 9 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | June 30, September 30, 2023 2022 Raw materials $ 6,387 $ 5,277 Finished goods 894 844 Work in process 1,449 744 Inventories, gross 8,730 6,865 Reserve for obsolescence (780 ) (857 ) Inventories, net $ 7,950 $ 6,008 |
Note 7 - Property and Equipme_2
Note 7 - Property and Equipment, Net (Tables) | 9 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | June 30, September 30, 2023 2022 Office furniture and equipment $ 1,594 $ 1,432 Machinery and equipment 1,441 1,391 Leasehold improvements 2,302 2,172 Construction in progress - 104 Property and equipment, gross 5,337 5,099 Accumulated depreciation (3,671 ) (3,342 ) Property and equipment, net $ 1,666 $ 1,757 |
Note 8 - Goodwill and Intangi_2
Note 8 - Goodwill and Intangible Assets (Tables) | 9 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Changes in Finite Lived Intangible Assets [Table Text Block] | Hardware Software Total Balance as of September 30, 2022 $ - $ 10,118 $ 10,118 Currency translation - 230 230 Balance as of June 30, 2023 $ - $ 10,348 $ 10,348 Hardware Software Total Balance as of September 30, 2022 $ 21 $ 10,484 $ 10,505 Amortization (3 ) (1,580 ) (1,583 ) Currency translation - 36 36 Balance as of June 30, 2023 $ 18 $ 8,940 $ 8,958 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | June 30, September 30, 2023 2022 Technology $ 11,947 $ 11,886 Customer relationships 1,807 1,715 Trade name portfolio 611 590 Non-compete agreements 229 206 Patents 72 72 14,666 14,469 Accumulated amortization (5,708 ) (3,964 ) $ 8,958 $ 10,505 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Fiscal year ending September 30, 2023 (remaining three months) $ 525 2024 2,099 2025 1,979 2026 1,842 2027 1,669 Thereafter 844 Total estimated amortization expense $ 8,958 |
Note 9 - Prepaid Expenses and_2
Note 9 - Prepaid Expenses and Other (Tables) | 9 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | June 30, September 30, 2023 2022 Deposits for inventory $ 284 $ 461 Prepaid insurance 285 360 Dues and subscriptions 234 182 Prepaid commissions 406 228 Trade shows and travel 73 471 Canadian goods and services and harmonized sales tax receivable 148 1,631 Other 253 244 $ 1,683 $ 3,577 |
Note 10 - Accrued and Other L_2
Note 10 - Accrued and Other Liabilities (Tables) | 9 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | June 30, September 30, 2023 2022 Payroll and related $ 2,539 $ 3,003 Deferred revenue 2,094 1,827 Customer deposits 1,957 4,724 Accrued contract costs 672 809 Warranty reserve 153 159 Canadian goods and services and harmonized sales tax payable - 1,556 Asset purchase holdback liability 742 - Other 25 5 Total $ 8,182 $ 12,083 |
Other Noncurrent Liabilities [Table Text Block] | June 30, September 30, 2023 2022 Deferred revenue $ 116 $ 227 Asset purchase holdback liability - 680 Total $ 116 $ 907 |
Schedule of Product Warranty Liability [Table Text Block] | June 30, September 30, 2023 2022 Beginning balance $ 159 $ 146 Warranty provision 57 86 Warranty settlements (63 ) (73 ) Ending balance $ 153 $ 159 |
Note 12 - Leases (Tables)
Note 12 - Leases (Tables) | 9 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Initial Measurement of Operating Lease [Table Text Block] | Operating lease ROU assets Operating lease ROU assets as of September 30, 2022 $ 4,541 Additional operating lease ROU assets 79 Less amortization of operating lease ROU assets (577 ) Effect of exchange rate on operating lease ROU assets 51 Operating lease ROU assets as of June 30, 2023 $ 4,094 Operating lease liabilities Operating lease liabilities as of September 30, 2022 $ 6,137 Additional operating lease liabilities 79 Less lease principal payments on operating lease liabilities (719 ) Effect of exchange rate on operating lease liabilities 52 Operating lease liabilities as of June 30, 2023 5,549 Less non-current portion (4,551 ) Current portion as of June 30, 2023 $ 998 |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | Fiscal year ending September 30, 2023 (remaining three months) $ 301 2024 1,210 2025 1,185 2026 1,198 2027 1,220 Thereafter 1,046 Total undiscounted operating lease payments 6,160 Less: imputed interest (611 ) Present value of operating lease liabilities $ 5,549 |
Note 15 - Share-based Compens_2
Note 15 - Share-based Compensation (Tables) | 9 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Nine months ended June 30, 2023 2022 Volatility 52.1 % 48.1 % Risk-free interest rate 4.0 % 1.5 % Dividend yield 0.0 % 0.0 % Expected term in years 5.8 6.8 |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Number of Shares Weighted Average Grant Date Fair Value Outstanding September 30, 2022 342,841 $ 4.11 Granted 295,600 $ 3.63 Released (253,012 ) $ 3.73 Forfeited/cancelled - $ - Outstanding June 30, 2023 385,429 $ 3.99 |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Number of Shares Weighted Average Exercise Price Outstanding September 30, 2022 3,940,899 $ 3.31 Granted 1,849,500 $ 2.93 Forfeited/expired (1,480,362 ) $ 3.98 Exercised (1,022,265 ) $ 1.96 Outstanding June 30, 2023 3,287,772 $ 3.21 Exerciseable June 30, 2023 817,726 $ 3.41 |
Share-Based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | Range of Number Weighted Average Remaining Contractual Weighted Average Exercise Number Weighted Average Exercise Exercise Prices Outstanding Term Price Exercisable Price $1.51 - $2.64 189,157 1.88 $ 1.88 159,157 $ 1.73 $2.69 - $2.69 1,100,000 6.27 $ 2.69 - $ - $3.09 - $3.39 1,160,388 4.93 $ 3.33 192,138 $ 3.39 $3.40 - $8.03 838,227 4.76 $ 4.04 466,431 $ 3.99 3,287,772 5.16 $ 3.21 817,726 $ 3.41 |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended Nine Months Ended June 30, June 30, 2023 2022 2023 2022 Cost of revenues $ 19 $ 10 $ 80 $ 53 Selling, general and administrative 351 327 1,171 1,544 Research and development 26 18 78 53 $ 396 $ 355 $ 1,329 $ 1,650 |
Note 16 - Stockholders' Equity
Note 16 - Stockholders' Equity (Tables) | 9 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Stockholders Equity [Table Text Block] | Accumulated Common Stock Additional Other Total Shares Par Value Amount Paid-in Capital Accumulated Deficit Comprehensive Loss Stockholders' Equity Balance as of September 30, 2022 36,611,240 $ 366 $ 108,551 $ (57,366 ) $ (792 ) $ 50,393 Share-based compensation expense - - 420 - - 420 Issuance of common stock upon exercise of stock options, net 20,000 - 32 - - 32 Issuance of common stock upon vesting of restricted stock units 12,667 - - - - - Release of obligation to issue commons stock 69,564 1 - - - Accumulated other comprehensive income - - - - 266 266 Net loss - - - (3,507 ) (3,507 ) Balance as of December 31, 2022 36,713,471 367 $ 109,003 $ (60,873 ) $ (526 ) $ 47,604 Share-based compensation expense - - 513 - - 513 Issuance of common stock upon exercise of stock options, net 33,765 1 54 - - 54 Issuance of common stock upon cashless exercise of stock options, net 15,914 - - - - - Issuance of common stock upon vesting of restricted stock units 232,761 2 (2 ) - - (2 ) Shares retained for payment of taxes in connection with net share settlement of restricted stock units (11,616 ) - (45 ) - - (45 ) Accumulated other comprehensive income - - - - 81 81 Net loss - - - (3,403 ) - (3,403 ) Balance as of March 31, 2023 36,984,295 $ 370 $ 109,523 $ (64,276 ) $ (445 ) $ 44,802 Share-based compensation expense - - 396 - - 396 Issuance of common stock upon exercise of stock options, net 1,000 - 1 - - 1 Issuance of common stock upon cashless exercise of stock options, net 372,286 4 - - - - Issuance of common stock upon vesting of restricted stock units 7,584 - - - - - Retirement of common stock (109,488 ) (1 ) 300 (300 ) - Shares retained for payment of taxes in connection with net share settlement upon exercise of stock options (74,606 ) (1 ) (207 ) - - (207 ) Accumulated other comprehensive income - - - - 21 21 Net loss - - - (1,423 ) - (1,423 ) Balance as of June 30, 2023 37,181,071 $ 372 $ 110,013 $ (65,999 ) $ (424 ) $ 43,590 Accumulated Common Stock Additional Other Total Shares Par Value Amount Paid-in Capital Accumulated Deficit Comprehensive Loss Stockholders' Equity Balance as of September 30, 2021 36,403,833 $ 364 $ 107,110 $ (41,154 ) $ 2 $ 65,958 Share-based compensation expense - - 558 - - 558 Issuance of common stock upon exercise of stock options, net 15,000 - 46 - - 46 Stock buyback (116,868 ) (1 ) (441 ) - - (441 ) Release of obligation to issue commons stock 69,564 - - - - - Accumulated other comprehensive loss - - - - (85 ) (85 ) Net loss - - - (1,305 ) - (1,305 ) Balance as of December 31, 2021 36,371,529 363 $ 107,273 $ (42,459 ) $ (83 ) $ 64,731 Share-based compensation expense - - 737 - - 737 Issuance of common stock upon exercise of stock options, net 55,000 1 124 - - 124 Issuance of common stock upon vesting of restricted stock units 262,342 2 - - - - Shares retained for payment of taxes in connection with net share settlement of restricted stock units (18,344 ) - (70 ) - - (70 ) Stock buyback (142,442 ) (1 ) (557 ) - - (557 ) Accumulated other comprehensive loss - - - - (1 ) (1 ) Net loss - - - (492 ) - (492 ) Balance as of March 31, 2022 36,528,085 365 $ 107,507 $ (42,951 ) $ (84 ) $ 64,472 Share-based compensation expense - - $ 355 - - 355 Issuance of common stock upon exercise of stock options, net 60,000 1 83 - - 83 Issuance of common stock upon vesting of restricted stock units 7,920 - - - - - Accumulated other comprehensive loss - - - - (452 ) (452 ) Net loss - - - (589 ) - (589 ) Balance as of June 30, 2022 36,596,005 $ 366 $ 107,945 $ (43,540 ) $ (536 ) $ 63,869 |
Note 17 - Net Loss Per Share (T
Note 17 - Net Loss Per Share (Tables) | 9 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended Nine months ended June 30, June 30, 2023 2022 2023 2022 Net loss $ (1,423 ) $ (589 ) $ (8,334 ) $ (2,386 ) Basic and diluted loss per share $ (0.04 ) $ (0.02 ) $ (0.23 ) $ (0.07 ) Weighted average shares outstanding - basic 37,053,196 36,566,900 36,855,014 36,459,179 Assumed exercise of dilutive options - - - - Weighted average shares outstanding - diluted 37,053,196 36,566,900 36,855,014 36,459,179 Potentially dilutive securities outstanding at period end excluded from diluted computation as the inclusion would have been antidilutive: Options 3,287,772 2,927,384 3,287,772 2,927,384 RSU 385,429 139,128 385,429 374,341 Obligation to issue common stock 69,564 374,341 69,564 139,128 Total 3,742,765 3,440,853 3,742,765 3,440,853 |
Note 18 - Segment Information (
Note 18 - Segment Information (Tables) | 9 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three months ended Nine months ended June 30, June 30, 2023 2022 2023 2022 Revenue from external customers Hardware $ 13,324 $ 13,419 $ 33,269 $ 36,041 Software 938 733 2,693 1,956 $ 14,262 $ 14,152 $ 35,962 $ 37,997 Intersegment revenues Hardware $ - $ - $ - $ - Software 1,423 860 4,005 2,354 $ 1,423 $ 860 $ 4,005 $ 2,354 Segment operating loss Hardware $ 2,302 $ 2,495 $ 2,661 $ 6,204 Software (3,752 ) (3,124 ) (11,009 ) (8,969 ) $ (1,450 ) $ (629 ) $ (8,348 ) $ (2,765 ) Other expenses: Depreciation and amortization expense Hardware $ 97 $ 95 $ 297 $ 285 Software 539 543 1,621 1,635 $ 636 $ 638 $ 1,918 $ 1,920 Income tax expense (benefit) Hardware $ - $ (13 ) $ 8 $ 1,053 Software (26 ) (18 ) (26 ) (1,420 ) $ (26 ) $ (31 ) $ (18 ) $ (367 ) June 30, September 30, 2023 2022 Long-lived assets Hardware $ 1,529 $ 1,677 Software 9,095 10,585 $ 10,624 $ 12,262 Total assets Hardware $ 38,920 $ 47,237 Software 21,841 24,617 $ 60,761 $ 71,854 |
Note 19 - Major Customers, Su_2
Note 19 - Major Customers, Suppliers and Related Information (Tables) | 9 Months Ended |
Jun. 30, 2023 | |
Notes Tables | |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | Three months ended June 30, Nine months ended June 30, 2023 2022 2023 2022 Americas $ 13,189 $ 12,674 $ 32,371 $ 32,205 Asia Pacific 491 514 1,795 2,969 Europe, Middle East and Africa 582 964 1,796 2,823 Total Revenues $ 14,262 $ 14,152 $ 35,962 $ 37,997 |
Long-Lived Assets by Geographic Areas [Table Text Block] | March 31, September 30, 2023 2022 United States $ 10,207 $ 11,800 Americas (excluding the United States) 10 16 Asia Pacific - - Europe, Middle East and Africa 407 446 $ 10,624 $ 12,262 |
Note 2 - Basis of Presentatio_2
Note 2 - Basis of Presentation and Significant Accounting Policies (Details Textual) $ in Thousands | Jun. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Jun. 30, 2022 USD ($) |
Number of Wholly Owned Subsidiaries | 8 | ||
Number of Additional Inactive Subsidiaries | 2 | ||
Cash and Cash Equivalents, at Carrying Value, Total | $ 2,971 | $ 12,736 | $ 11,723 |
Restricted Cash, Total | 755 | 100 | |
Restricted Cash, Noncurrent | $ 96 | $ 823 |
Note 4 - Revenue Recognition 1
Note 4 - Revenue Recognition 1 (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2023 | Sep. 30, 2022 |
Contract with Customer, Asset, after Allowance for Credit Loss, Total | $ 0 | $ 0 |
Revenue, Remaining Performance Obligation, Amount | $ 4,167 |
Note 4 - Revenue Recognition 2
Note 4 - Revenue Recognition 2 (Details Textual) $ in Thousands | Jun. 30, 2023 USD ($) |
Revenue, Remaining Performance Obligation, Amount | $ 4,167 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 | |
Revenue, Remaining Performance Obligation, Amount | $ 4,051 |
Revenue, Remaining Performance Obligation, Percentage | 97% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-07 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 12 months |
Note 4 - Revenue Recognition -
Note 4 - Revenue Recognition - Contract Asset and Contract Liabilities (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Jun. 30, 2023 | Sep. 30, 2022 | |
Balance as of September 30, 2022 | $ 6,778 | |
New performance obligations | 11,020 | |
Recognition of revenue as a result of satisfying performance obligations | (13,664) | |
Effect of exchange rate on deferred revenue | 33 | |
Balance as of March 31, 2023 | 4,167 | |
Less: non-current portion | (116) | $ (227) |
Current portion as of March 31, 2023 | 4,051 | |
Customer Deposits [Member] | ||
Balance as of September 30, 2022 | 4,724 | |
New performance obligations | 8,606 | |
Recognition of revenue as a result of satisfying performance obligations | (11,375) | |
Effect of exchange rate on deferred revenue | 2 | |
Balance as of March 31, 2023 | 1,957 | |
Less: non-current portion | 0 | |
Current portion as of March 31, 2023 | 1,957 | |
Deferred Revenue [Member] | ||
Balance as of September 30, 2022 | 2,054 | |
New performance obligations | 2,414 | |
Recognition of revenue as a result of satisfying performance obligations | (2,289) | |
Effect of exchange rate on deferred revenue | 31 | |
Balance as of March 31, 2023 | 2,210 | |
Less: non-current portion | (116) | |
Current portion as of March 31, 2023 | $ 2,094 |
Note 5 - Fair Value Measureme_3
Note 5 - Fair Value Measurements (Details Textual) $ in Thousands, $ in Millions | Oct. 02, 2020 CAD ($) | Oct. 02, 2020 USD ($) | Oct. 02, 2020 CAD ($) | Jun. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) |
Marketable Securities, Total | $ 0 | $ 0 | |||
Assets Acquisition of Amika Mobile Corporation [Member] | |||||
Asset Purchase Agreement, Deduction From Liability | $ 1 | $ 755 | $ 1 | ||
Asset Acquisition, Adjustments from Purchase Holdback Liability, Period (Year) | 3 years | 3 years |
Note 5 - Fair Value Measureme_4
Note 5 - Fair Value Measurements - Fair Value by Major Security Type (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Sep. 30, 2022 |
Short-term marketable securities | $ 3,549 | $ 6,397 |
Long-term Securities | 392 | 781 |
Fair Value, Nonrecurring [Member] | ||
Cost Basis | 4,755 | 8,584 |
Unrealized Loss | (19) | 90 |
Unrealized Loss | 19 | (90) |
Fair Value | 4,736 | 8,494 |
Cash Equivalents | 795 | 1,316 |
Short-term marketable securities | 3,549 | 6,397 |
Long-term Securities | 392 | 781 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | ||
Cost Basis | 795 | 1,316 |
Unrealized Loss | 0 | 0 |
Unrealized Loss | 0 | 0 |
Fair Value | 795 | 1,316 |
Cash Equivalents | 795 | 1,316 |
Short-term marketable securities | 0 | |
Long-term Securities | 0 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | ||
Cost Basis | 3,960 | 7,268 |
Unrealized Loss | (19) | 90 |
Unrealized Loss | 19 | (90) |
Fair Value | 3,941 | 7,178 |
Cash Equivalents | 0 | 0 |
Short-term marketable securities | 3,549 | 6,397 |
Long-term Securities | 392 | 781 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | Certificates of Deposit [Member] | ||
Cost Basis | 302 | 800 |
Unrealized Loss | 0 | 0 |
Unrealized Loss | 0 | 0 |
Fair Value | 302 | 800 |
Cash Equivalents | 0 | 0 |
Short-term marketable securities | 0 | 498 |
Long-term Securities | 302 | 302 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Cost Basis | 2,747 | 4,066 |
Unrealized Loss | (12) | 65 |
Unrealized Loss | 12 | (65) |
Fair Value | 2,735 | 4,001 |
Cash Equivalents | 0 | 0 |
Short-term marketable securities | 2,645 | 3,772 |
Long-term Securities | 90 | 229 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | Corporate Debt Securities [Member] | ||
Cost Basis | 911 | 2,402 |
Unrealized Loss | (7) | 25 |
Unrealized Loss | 7 | (25) |
Fair Value | 904 | 2,377 |
Cash Equivalents | 0 | 0 |
Short-term marketable securities | 904 | 2,127 |
Long-term Securities | $ 0 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | Convertible Debt Securities [Member] | ||
Long-term Securities | $ 250 |
Note 5 - Fair Value Measureme_5
Note 5 - 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 | 9 Months Ended |
Jun. 30, 2023 USD ($) | |
Balance | $ 680 |
Accretion | 36 |
Currency translation | 26 |
Balance | $ 742 |
Note 6 - Inventories, Net - Sch
Note 6 - Inventories, Net - Schedule of Inventory (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Sep. 30, 2022 |
Raw materials | $ 6,387 | $ 5,277 |
Finished goods | 894 | 844 |
Work in process | 1,449 | 744 |
Inventories, gross | 8,730 | 6,865 |
Reserve for obsolescence | (780) | (857) |
Inventories, net | $ 7,950 | $ 6,008 |
Note 7 - Property and Equipme_3
Note 7 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Depreciation | $ 111 | $ 101 | $ 335 | $ 299 |
Note 7 - Property and Equipme_4
Note 7 - Property and Equipment, Net - Property and Equipment (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Sep. 30, 2022 |
Property and equipment, gross | $ 5,337 | $ 5,099 |
Accumulated depreciation | (3,671) | (3,342) |
Property and equipment, net | 1,666 | 1,757 |
Furniture and Fixtures [Member] | ||
Property and equipment, gross | 1,594 | 1,432 |
Machinery and Equipment [Member] | ||
Property and equipment, gross | 1,441 | 1,391 |
Leasehold Improvements [Member] | ||
Property and equipment, gross | 2,302 | 2,172 |
Construction in Progress [Member] | ||
Property and equipment, gross | $ 0 | $ 104 |
Note 8 - Goodwill and Intangi_3
Note 8 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Jun. 30, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Goodwill, Gross | $ 10,348 | $ 10,118 | $ 10,348 | ||
Amortization of Intangible Assets | $ 525 | $ 537 | 1,583 | $ 1,621 | |
Genasys Spain [Member] | |||||
Goodwill and Intangible Assets, Foreign Currency Translation Gain (Loss) | $ 266 | ||||
Software [Member] | |||||
Goodwill, Impairment Loss | $ 13,162 |
Note 8 - Goodwill and Intangi_4
Note 8 - Goodwill and Intangible Assets - Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Balance | $ 10,118 | |||
Balance | 10,505 | |||
Currency translation | 230 | |||
Amortization | $ (525) | $ (537) | (1,583) | $ (1,621) |
Balance | 10,348 | 10,348 | ||
Currency translation | 36 | |||
Balance | 8,958 | 8,958 | ||
Hardware [Member] | ||||
Balance | 0 | |||
Balance | 21 | |||
Currency translation | 0 | |||
Amortization | (3) | |||
Balance | 0 | 0 | ||
Currency translation | 0 | |||
Balance | 18 | 18 | ||
Software [Member] | ||||
Balance | 10,118 | |||
Balance | 10,484 | |||
Currency translation | 230 | |||
Amortization | (1,580) | |||
Balance | 10,348 | 10,348 | ||
Currency translation | 36 | |||
Balance | $ 8,940 | $ 8,940 |
Note 8 - Goodwill and Intangi_5
Note 8 - Goodwill and Intangible Assets - Summary of Intangible Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Sep. 30, 2022 |
Intangible assets, gross carrying amount | $ 14,666 | $ 14,469 |
Accumulated amortization | (5,708) | (3,964) |
Finite-Lived Intangible Assets, Net | 8,958 | 10,505 |
Developed Technology Rights [Member] | ||
Intangible assets, gross carrying amount | 11,947 | 11,886 |
Customer Relationships [Member] | ||
Intangible assets, gross carrying amount | 1,807 | 1,715 |
Trade Names [Member] | ||
Intangible assets, gross carrying amount | 611 | 590 |
Noncompete Agreements [Member] | ||
Intangible assets, gross carrying amount | 206 | |
Patents [Member] | ||
Intangible assets, gross carrying amount | $ 72 | $ 72 |
Note 8 - Goodwill and Intangi_6
Note 8 - Goodwill and Intangible Assets - Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Sep. 30, 2022 |
2023 (remaining three months) | $ 525 | |
2024 | 2,099 | |
2025 | 1,979 | |
2026 | 1,842 | |
2027 | 1,669 | |
Thereafter | 844 | |
Finite-Lived Intangible Assets, Net | $ 8,958 | $ 10,505 |
Note 9 - Prepaid Expenses and_3
Note 9 - Prepaid Expenses and Other (Details Textual) | Jun. 30, 2023 |
Minimum [Member] | |
Capitalized Contract Cost, Amortization Period | 3 years |
Maximum [Member] | |
Capitalized Contract Cost, Amortization Period | 5 years |
Note 9 - Prepaid Expenses and_4
Note 9 - Prepaid Expenses and Other - Summary of Prepaid Expenses and Others (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Sep. 30, 2022 |
Deposits for inventory | $ 284 | $ 461 |
Prepaid insurance | 285 | 360 |
Dues and subscriptions | 234 | 182 |
Prepaid commissions | 406 | 228 |
Trade shows and travel | 73 | 471 |
Canadian goods and services and harmonized sales tax receivable | 148 | 1,631 |
Other | 253 | 244 |
Prepaid Expense and Other Assets, Current | $ 1,683 | $ 3,577 |
Note 10 - Accrued and Other L_3
Note 10 - Accrued and Other Liabilities (Details Textual) | 9 Months Ended |
Jun. 30, 2023 | |
Minimum [Member] | |
Extended Product Warranty Term | 1 year |
Maximum [Member] | |
Extended Product Warranty Term | 2 years |
Note 10 - Accrued and Other L_4
Note 10 - Accrued and Other Liabilities - Summary of Accrued Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Sep. 30, 2022 |
Payroll and related | $ 2,539 | $ 3,003 |
Deferred revenue | 4,051 | |
Accrued contract costs | 672 | 809 |
Warranty reserve | 153 | 159 |
Canadian goods and services and harmonized sales tax payable | 0 | 1,556 |
Asset purchase holdback liability | 742 | 0 |
Other | 25 | 5 |
Total | 8,182 | 12,083 |
Service [Member] | ||
Deferred revenue | 2,094 | 1,827 |
Hardware [Member] | ||
Deferred revenue | $ 1,957 | $ 4,724 |
Note 10 - Accrued and Other L_5
Note 10 - Accrued and Other Liabilities - Other Noncurrent Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Sep. 30, 2022 |
Deferred revenue | $ 116 | $ 227 |
Asset purchase holdback liability | 0 | 680 |
Total | $ 116 | $ 907 |
Note 10 - Accrued and Other L_6
Note 10 - Accrued and Other Liabilities - Changes in Warranty Reserve (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Sep. 30, 2022 | |
Beginning balance | $ 159 | $ 146 |
Warranty provision | 57 | 86 |
Warranty settlements | (63) | (73) |
Ending balance | $ 153 | $ 159 |
Note 11 - Debt (Details Textual
Note 11 - Debt (Details Textual) - Revolving Credit Facility [Member] - MUFG Union Bank, N.A. [Member] - USD ($) $ in Thousands | Mar. 08, 2021 | Jun. 30, 2023 |
Line of Credit Facility, Maximum Borrowing Capacity | $ 10,000 | |
Debt Issuance Costs, Gross | $ 38 | |
London Interbank Offered Rate [Member] | ||
Debt Instrument, Basis Spread on Variable Rate | 2.25% |
Note 12 - Leases (Details Textu
Note 12 - Leases (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Operating Lease, Expense | $ 250 | $ 245 | $ 753 | $ 735 |
Short-Term Lease, Cost | $ 9 | $ 0 | $ 9 | $ 0 |
Note 12 - Leases - Initial Meas
Note 12 - Leases - Initial Measurement of Operating Lease (Details) - USD ($) $ in Thousands | 9 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Sep. 30, 2022 | |
Operating lease ROU assets as of September 30, 2022 | $ 4,541 | ||
Operating lease liabilities as of September 30, 2022 | 6,137 | ||
Additional operating lease ROU assets | 79 | ||
Less amortization of operating lease ROU assets | (577) | $ (543) | |
Less lease principal payments on operating lease liabilities | (719) | ||
Effect of exchange rate on operating lease ROU assets | 51 | ||
Effect of exchange rate on operating lease liabilities | 52 | ||
Operating lease ROU assets as of March 31, 2023 | 4,094 | ||
Operating lease liabilities as of March 31, 2023 | 5,549 | ||
Less non-current portion | (4,551) | $ (5,189) | |
Operating lease liabilities, current portion | $ 998 | $ 948 |
Note 12 - Leases - Maturities o
Note 12 - Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Sep. 30, 2022 |
2023 (remaining three months) | $ 301 | |
2024 | 1,210 | |
2025 | 1,185 | |
2026 | 1,198 | |
2027 | 1,220 | |
Thereafter | 1,046 | |
Total undiscounted operating lease payments | 6,160 | |
Less imputed interest | (611) | |
Present value of operating lease liabilities | $ 5,549 | $ 6,137 |
Note 13 - Income Taxes (Details
Note 13 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Income Tax Expense (Benefit) | $ 26 | $ 31 | $ 18 | $ 367 |
Effective Income Tax Rate Reconciliation, Percent | 28.60% |
Note 14 - Commitments and Con_2
Note 14 - Commitments and Contingencies (Details Textual) $ / shares in Units, $ in Thousands, $ in Millions | 9 Months Ended | 12 Months Ended | |||||
Oct. 02, 2020 USD ($) $ / shares shares | Oct. 02, 2020 CAD ($) shares | Oct. 02, 2020 CAD ($) | Jun. 30, 2023 USD ($) $ / shares shares | Jun. 30, 2022 USD ($) | Sep. 30, 2022 shares | Sep. 30, 2021 shares | |
Increase (Decrease) in Other Employee-Related Liabilities | $ | $ 762 | $ 1,483 | |||||
Share Price | $ / shares | $ 5.98 | $ 2.60 | |||||
Assets Acquisition of Amika Mobile Corporation [Member] | |||||||
Asset Purchase Agreement, Deduction From Liability | $ 755 | $ 1 | $ 1 | ||||
Asset Purchase Agreement, Deduction, Term | 3 years | 3 years | |||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares, Each Anniversaries | 191,267 | 191,267 | |||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 573,801 | 573,801 | 69,564 | ||||
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 | 69,564 | 69,564 | 365,109 |
Note 15 - Share-based Compens_3
Note 15 - Share-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||||
Mar. 20, 2023 | Mar. 14, 2023 | Feb. 14, 2023 | Nov. 01, 2022 | Oct. 08, 2022 | Aug. 10, 2022 | Mar. 15, 2022 | Nov. 01, 2021 | Oct. 04, 2019 | Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2020 | Mar. 16, 2021 | Dec. 08, 2020 | Oct. 02, 2020 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant | 6,495,028 | 6,495,028 | |||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross | 1,849,500 | 322,000 | |||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period | 7 years | ||||||||||||||||||
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 1,804 | $ 1,804 | |||||||||||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years 2 months 12 days | ||||||||||||||||||
Share-Based Payment Arrangement, Expense | 396 | $ 355 | $ 1,329 | $ 1,650 | |||||||||||||||
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit | $ 1.51 | ||||||||||||||||||
Share-Based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit | $ 8.03 | ||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 5 years 1 month 28 days | ||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Intrinsic Value | 138 | $ 138 | |||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value | $ 138 | $ 138 | |||||||||||||||||
Share Price | $ 2.60 | $ 2.60 | $ 5.98 | ||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 762 | 191 | |||||||||||||||||
Gross Proceeds from Stock Options Exercised | $ 87 | 253 | |||||||||||||||||
Vesting Based on Market Conditions [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross | 225,000 | ||||||||||||||||||
Common Stock Award [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant | 2,821,827 | 2,821,827 | |||||||||||||||||
Performance Shares [Member] | Key Executive [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross | 800,000 | ||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period | 7 years | ||||||||||||||||||
Share-Based Payment Arrangement, Expense | $ 0 | $ 209 | |||||||||||||||||
Performance Shares [Member] | Management [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross | 450,000 | 750,000 | |||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period | 7 years | 7 years | |||||||||||||||||
Share-Based Payment Arrangement, Expense | $ 3 | $ 4 | |||||||||||||||||
Performance Shares [Member] | Vesting Based on Market Conditions [Member] | Management [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted | 225,000 | ||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | |||||||||||||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 1 year 7 months 6 days | ||||||||||||||||||
Share-Based Payment Arrangement, Expense | 211 | 193 | $ 759 | 1,216 | |||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period | 295,600 | ||||||||||||||||||
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | 1,204 | $ 1,204 | |||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Share-Based Payment Arrangement, Employee [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross | 800,000 | ||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted | 10,000 | ||||||||||||||||||
Shares Granted, Value, Share-Based Payment Arrangement, before Forfeiture | $ 29 | ||||||||||||||||||
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 | 30,000 | 145,950 | 81,270 | ||||||||||||||||
Shares Granted, Value, Share-Based Payment Arrangement, before Forfeiture | $ 407 | $ 989 | $ 258 | ||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Employees [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period | 3 years | 3 years | 3 years | ||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period | 145,600 | ||||||||||||||||||
Shares Granted, Value, Share-Based Payment Arrangement, before Forfeiture | $ 582 | ||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Non-employee Advisors [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period | 10,000 | ||||||||||||||||||
Shares Granted, Value, Share-Based Payment Arrangement, before Forfeiture | $ 51 | ||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Non-employee Directors [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted | 30,000 | ||||||||||||||||||
Shares Granted, Value, Share-Based Payment Arrangement, before Forfeiture | $ 417 | ||||||||||||||||||
Restricted Stock Units (RSUs) [Member] | Vests Immediately [Member] | Employees [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted | 20,000 | ||||||||||||||||||
Shares Granted, Value, Share-Based Payment Arrangement, before Forfeiture | $ 66 | ||||||||||||||||||
Share-Based Payment Arrangement, Option [Member] | Employees, Directors, and Consultants [Member] | |||||||||||||||||||
Share-Based Payment Arrangement, Expense | $ 181 | $ 162 | $ 566 | $ 434 | |||||||||||||||
2015 Equity Plan [Member] | |||||||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized | 10,000,000 | 5,000,000 | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Proposed Number of Shares Authorized | 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 | 3,673,201 | 3,673,201 | |||||||||||||||||
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 | 3,673,201 | 3,673,201 |
Note 15 - Share-based Compens_4
Note 15 - Share-based Compensation - Weighted-average Assumptions (Details) | 9 Months Ended | |
Jun. 30, 2023 Rate | Jun. 30, 2022 Rate | |
Volatility (Rate) | 52.10% | 48.10% |
Risk-free interest rate (Rate) | 4% | 1.50% |
Dividend yield (Rate) | 0% | 0% |
Expected term in years (Year) | 5 years 9 months 18 days | 6 years 9 months 18 days |
Note 15 - Share-based Compens_5
Note 15 - Share-based Compensation - Restricted Stock Activity (Details) | 9 Months Ended |
Jun. 30, 2023 $ / shares shares | |
Forfeited/cancelled, weighted average grant date fair value (in dollars per share) | $ 3.98 |
Restricted Stock Units (RSUs) [Member] | |
Outstanding, number of shares (in shares) | shares | 342,841 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ 4.11 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period | shares | 295,600 |
Granted, weighted average grant date fair value (in dollars per share) | $ 3.63 |
Released, number of shares (in shares) | shares | (253,012) |
Released, weighted average grant date fair value (in dollars per share) | $ 3.73 |
Forfeited/cancelled, number of shares (in shares) | shares | 0 |
Forfeited/cancelled, weighted average grant date fair value (in dollars per share) | $ 0 |
Outstanding, number of shares (in shares) | shares | 385,429 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ 3.99 |
Note 15 - Share-based Compens_6
Note 15 - Share-based Compensation - Stock Option Activity (Details) - $ / shares | 9 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Outstanding (in shares) | 3,940,899 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 3.31 | |
Granted (in shares) | 1,849,500 | 322,000 |
Granted, weighted average exercise price (in dollars per share) | $ 2.93 | |
Forfeited/expired (in shares) | (1,480,362) | |
Forfeited/cancelled, weighted average grant date fair value (in dollars per share) | $ 3.98 | |
Exercised (in shares) | (1,022,265) | |
Exercised, weighted average exercise price (in dollars per share) | $ 1.96 | |
Outstanding (in shares) | 3,287,772 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 3.21 | |
Exerciseable (in shares) | 817,726 | |
Exerciseable, weighted average exercise price (in dollars per share) | $ 3.41 |
Note 15 - Share-based Compens_7
Note 15 - Share-based Compensation - Stock Options Outstanding (Details) | 9 Months Ended |
Jun. 30, 2023 $ / shares shares | |
Lower Exercise Price (in dollars per share) | $ 1.51 |
Upper Exercise Price (in dollars per share) | $ 8.03 |
Number Outstanding (in shares) | shares | 3,287,772 |
Weighted Average Remaining Contractual Life (Year) | 5 years 1 month 28 days |
Weighted average exercise price, outstanding balance (in dollars per share) | $ 3.21 |
Number Exercisable (in shares) | shares | 817,726 |
Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 3.41 |
Range One [Member] | |
Lower Exercise Price (in dollars per share) | 1.51 |
Upper Exercise Price (in dollars per share) | $ 2.64 |
Number Outstanding (in shares) | shares | 189,157 |
Weighted Average Remaining Contractual Life (Year) | 1 year 10 months 17 days |
Weighted average exercise price, outstanding balance (in dollars per share) | $ 1.88 |
Number Exercisable (in shares) | shares | 159,157 |
Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 1.73 |
Range Two [Member] | |
Lower Exercise Price (in dollars per share) | 2.69 |
Upper Exercise Price (in dollars per share) | $ 2.69 |
Number Outstanding (in shares) | shares | 1,100,000 |
Weighted Average Remaining Contractual Life (Year) | 6 years 3 months 7 days |
Weighted average exercise price, outstanding balance (in dollars per share) | $ 2.69 |
Number Exercisable (in shares) | shares | 0 |
Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 0 |
Range Three [Member] | |
Lower Exercise Price (in dollars per share) | 3.09 |
Upper Exercise Price (in dollars per share) | $ 3.39 |
Number Outstanding (in shares) | shares | 1,160,388 |
Weighted Average Remaining Contractual Life (Year) | 4 years 11 months 4 days |
Weighted average exercise price, outstanding balance (in dollars per share) | $ 3.33 |
Number Exercisable (in shares) | shares | 192,138 |
Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 3.39 |
Range Four [Member] | |
Lower Exercise Price (in dollars per share) | 3.40 |
Upper Exercise Price (in dollars per share) | $ 8.03 |
Number Outstanding (in shares) | shares | 838,227 |
Weighted Average Remaining Contractual Life (Year) | 4 years 9 months 3 days |
Weighted average exercise price, outstanding balance (in dollars per share) | $ 4.04 |
Number Exercisable (in shares) | shares | 466,431 |
Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 3.99 |
Note 15 - Share-based Compens_8
Note 15 - Share-based Compensation - Summary of Share-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Share-Based Payment Arrangement, Expense | $ 396 | $ 355 | $ 1,329 | $ 1,650 |
Cost of Sales [Member] | ||||
Share-Based Payment Arrangement, Expense | 19 | 10 | 80 | 53 |
Selling, General and Administrative Expenses [Member] | ||||
Share-Based Payment Arrangement, Expense | 351 | 327 | 1,171 | 1,544 |
Research and Development Expense [Member] | ||||
Share-Based Payment Arrangement, Expense | $ 26 | $ 18 | $ 78 | $ 53 |
Note 16 - Stockholders' Equit_2
Note 16 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Oct. 02, 2020 | Jun. 30, 2023 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2023 | Jun. 30, 2022 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2020 | |
Issuance of common stock upon exercise of stock options, net (in shares) | 258,871 | 130,000 | |||||||
Gross Proceeds from Stock Options Exercised | $ 87 | $ 253 | |||||||
Issuance of common stock upon vesting of restricted stock units (in shares) | 253,012 | 251,918 | |||||||
Stock Repurchased During Period, Value | $ 557 | $ 441 | |||||||
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0 | $ 0 | |||||||
Share Buyback Program [Member] | |||||||||
Stock Repurchased and Retired During Period, Shares | 0 | 259,310 | |||||||
Stock Repurchase Program, Authorized Amount | $ 5,000 | ||||||||
Stock Repurchased During Period, Value | $ 998 | ||||||||
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased (in shares) | 3,000,000 | 3,000,000 | |||||||
Assets Acquisition of Amika Mobile Corporation [Member] | |||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares, Each Anniversaries | 191,267 | ||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 573,801 | 69,564 | |||||||
Business Acquisition, Share Price | $ 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 | 69,564 | 69,564 | 365,109 | ||||||
Share-Based Payment Arrangement, Employee [Member] | |||||||||
Issuance of common stock upon exercise of stock options, net (in shares) | 146,927 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises, Net Share Settlement Transaction | 786,747 | ||||||||
Stock Used as Consideration of Option Exercises | 565,214 | ||||||||
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation | 74,606 | ||||||||
Share-Based Payment Arrangement, Employee [Member] | Incentive Stock Options [Member] | |||||||||
Issuance of common stock upon exercise of stock options, net (in shares) | 150,753 | ||||||||
Stock Repurchased and Retired During Period, Shares | 109,488 |
Note 16 - Stockholders' Equit_3
Note 16 - Stockholders' Equity - Summary of Changes in Stockholders' Equity (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2023 | Jun. 30, 2022 | |
Balance | $ 44,802 | $ 47,604 | $ 50,393 | $ 64,472 | $ 64,731 | $ 65,958 | $ 50,393 | $ 65,958 |
Share-based compensation expense | 396 | 513 | 420 | 355 | 737 | 558 | ||
Issuance of common stock upon exercise of stock options, net (in shares) | 258,871 | 130,000 | ||||||
Issuance of common stock upon exercise of stock options, net | 1 | 54 | 32 | 83 | 124 | 46 | ||
Issuance of common stock upon vesting of restricted stock units (in shares) | 253,012 | 251,918 | ||||||
Stock buyback | (557) | (441) | ||||||
Issuance of common stock upon vesting of restricted stock units | 0 | (2) | 0 | 0 | ||||
Release of obligation to issue commons stock | 0 | 0 | ||||||
Accumulated other comprehensive loss | (21) | (266) | 452 | 1 | 85 | |||
Accumulated other comprehensive income | 21 | 266 | (452) | (1) | (85) | |||
Net loss | (1,423) | (3,403) | (3,507) | (589) | (492) | (1,305) | $ (8,334) | $ (2,386) |
Shares retained for payment of taxes in connection with net share settlement of restricted stock units | (207) | (45) | (70) | |||||
Accumulated other comprehensive loss | 81 | |||||||
Retirement of common stock | 0 | |||||||
Retirement of common stock | 0 | |||||||
Balance | $ 43,590 | $ 44,802 | $ 47,604 | $ 63,869 | $ 64,472 | $ 64,731 | $ 43,590 | $ 63,869 |
Common Stock [Member] | ||||||||
Balance (in shares) | 36,984,295 | 36,713,471 | 36,611,240 | 36,528,085 | 36,371,529 | 36,403,833 | 36,611,240 | 36,403,833 |
Balance | $ 370 | $ 367 | $ 366 | $ 365 | $ 363 | $ 364 | $ 366 | $ 364 |
Share-based compensation expense | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | |||
Issuance of common stock upon exercise of stock options, net (in shares) | 1,000 | 33,765 | 20,000 | 60,000 | 55,000 | 15,000 | ||
Issuance of common stock upon exercise of stock options, net | $ 0 | $ 1 | $ 0 | $ 1 | $ 1 | $ 0 | ||
Issuance of common stock upon vesting of restricted stock units (in shares) | 7,584 | 232,761 | 12,667 | 7,920 | 262,342 | |||
Stock buyback (in shares) | (142,442) | (116,868) | ||||||
Stock buyback | $ (1) | $ (1) | ||||||
Issuance of common stock upon vesting of restricted stock units | $ 0 | $ 2 | $ 0 | 2 | ||||
Release of obligation to issue commons stock (in shares) | 69,564 | 69,564 | ||||||
Release of obligation to issue commons stock | $ 1 | $ 0 | ||||||
Accumulated other comprehensive loss | 0 | 0 | 0 | 0 | 0 | |||
Accumulated other comprehensive income | 0 | 0 | 0 | 0 | 0 | |||
Net loss | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | ||
Issuance of common stock upon cashless exercise of stock options, net (in shares) | 372,286 | 15,914 | ||||||
Shares retained for payment of taxes in connection with net share settlement of restricted stock units (in shares) | (74,606) | (11,616) | (18,344) | |||||
Shares retained for payment of taxes in connection with net share settlement of restricted stock units | $ (1) | $ 0 | $ 0 | |||||
Accumulated other comprehensive loss | $ 0 | |||||||
Issuance of common stock upon cashless exercise of stock options, net | $ 4 | |||||||
Retirement of common stock (in shares) | (109,488) | |||||||
Retirement of common stock | $ (1) | |||||||
Retirement of common stock | $ 1 | |||||||
Balance (in shares) | 37,181,071 | 36,984,295 | 36,713,471 | 36,596,005 | 36,528,085 | 36,371,529 | 37,181,071 | 36,596,005 |
Balance | $ 372 | $ 370 | $ 367 | $ 366 | $ 365 | $ 363 | $ 372 | $ 366 |
Additional Paid-in Capital [Member] | ||||||||
Balance | 109,523 | 109,003 | 108,551 | 107,507 | 107,273 | 107,110 | 108,551 | 107,110 |
Share-based compensation expense | 396 | 513 | 420 | 355 | 737 | 558 | ||
Issuance of common stock upon exercise of stock options, net | 1 | 54 | 32 | 83 | 124 | 46 | ||
Stock buyback | (557) | (441) | ||||||
Issuance of common stock upon vesting of restricted stock units | 0 | (2) | 0 | 0 | 0 | |||
Release of obligation to issue commons stock | 0 | 0 | ||||||
Accumulated other comprehensive loss | 0 | 0 | 0 | 0 | 0 | |||
Accumulated other comprehensive income | 0 | 0 | 0 | 0 | 0 | |||
Net loss | 0 | 0 | 0 | 0 | 0 | 0 | ||
Shares retained for payment of taxes in connection with net share settlement of restricted stock units | (207) | (45) | (70) | |||||
Accumulated other comprehensive loss | 0 | |||||||
Retirement of common stock | (300) | |||||||
Retirement of common stock | 300 | |||||||
Balance | 110,013 | 109,523 | 109,003 | 107,945 | 107,507 | 107,273 | 110,013 | 107,945 |
Retained Earnings [Member] | ||||||||
Balance | (64,276) | (60,873) | (57,366) | (42,951) | (42,459) | (41,154) | (57,366) | (41,154) |
Share-based compensation expense | 0 | 0 | 0 | 0 | 0 | 0 | ||
Issuance of common stock upon exercise of stock options, net | 0 | 0 | 0 | 0 | 0 | 0 | ||
Stock buyback | 0 | 0 | ||||||
Issuance of common stock upon vesting of restricted stock units | 0 | 0 | 0 | 0 | ||||
Release of obligation to issue commons stock | 0 | 0 | ||||||
Accumulated other comprehensive loss | 0 | 0 | 0 | 0 | 0 | |||
Accumulated other comprehensive income | 0 | 0 | 0 | 0 | 0 | |||
Net loss | (1,423) | (3,403) | (3,507) | (589) | (492) | (1,305) | ||
Shares retained for payment of taxes in connection with net share settlement of restricted stock units | 0 | 0 | 0 | |||||
Accumulated other comprehensive loss | 0 | |||||||
Retirement of common stock | (300) | |||||||
Retirement of common stock | 300 | |||||||
Balance | (65,999) | (64,276) | (60,873) | (43,540) | (42,951) | (42,459) | (65,999) | (43,540) |
AOCI Attributable to Parent [Member] | ||||||||
Balance | (445) | (526) | (792) | (84) | (83) | 2 | (792) | 2 |
Share-based compensation expense | 0 | 0 | 0 | 0 | 0 | 0 | ||
Issuance of common stock upon exercise of stock options, net | 0 | 0 | 0 | 0 | 0 | 0 | ||
Stock buyback | 0 | 0 | ||||||
Issuance of common stock upon vesting of restricted stock units | 0 | 0 | 0 | 0 | 0 | |||
Release of obligation to issue commons stock | 0 | |||||||
Accumulated other comprehensive loss | (21) | (266) | 452 | 1 | 85 | |||
Accumulated other comprehensive income | 21 | 266 | (452) | (1) | (85) | |||
Net loss | 0 | 0 | 0 | 0 | 0 | |||
Shares retained for payment of taxes in connection with net share settlement of restricted stock units | 0 | 0 | 0 | |||||
Accumulated other comprehensive loss | 81 | |||||||
Balance | $ (424) | $ (445) | $ (526) | $ (536) | $ (84) | $ (83) | $ (424) | $ (536) |
Note 17 - Net Loss Per Share -
Note 17 - Net Loss Per Share - Basic and Diluted Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2023 | Jun. 30, 2022 | |
Net loss | $ (1,423) | $ (3,403) | $ (3,507) | $ (589) | $ (492) | $ (1,305) | $ (8,334) | $ (2,386) |
Basic and diluted income per share (in dollars per share) | $ (0.04) | $ (0.02) | $ (0.23) | $ (0.07) | ||||
Weighted average shares outstanding - basic (in shares) | 37,053,196 | 36,566,900 | 36,855,014 | 36,459,179 | ||||
Assumed exercise of dilutive options (in shares) | 0 | 0 | 0 | 0 | ||||
Weighted average shares outstanding - diluted (in shares) | 37,053,196 | 36,566,900 | 36,855,014 | 36,459,179 | ||||
Potentially dilutive securities outstanding at period end excluded from diluted computation as the inclusion would have been antidilutive (in shares) | 3,742,765 | 3,440,853 | 3,742,765 | 3,440,853 | ||||
Share-Based Payment Arrangement, Option [Member] | ||||||||
Potentially dilutive securities outstanding at period end excluded from diluted computation as the inclusion would have been antidilutive (in shares) | 3,287,772 | 2,927,384 | 3,287,772 | 2,927,384 | ||||
Restricted Stock Units (RSUs) [Member] | ||||||||
Potentially dilutive securities outstanding at period end excluded from diluted computation as the inclusion would have been antidilutive (in shares) | 385,429 | 139,128 | 385,429 | 374,341 | ||||
Obligation to Issue Common Stock [Member] | ||||||||
Potentially dilutive securities outstanding at period end excluded from diluted computation as the inclusion would have been antidilutive (in shares) | 69,564 | 374,341 | 69,564 | 139,128 |
Note 18 - Segment Information_2
Note 18 - Segment Information (Details Textual) | 9 Months Ended |
Jun. 30, 2023 | |
Number of Reportable Segments | 2 |
Note 18 - Segment Information -
Note 18 - Segment Information - Segment Disclosures (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | Mar. 31, 2023 | Sep. 30, 2022 | |
Product sales | $ 14,262 | $ 14,152 | $ 35,962 | $ 37,997 | ||
Long-lived assets | 10,624 | 10,624 | $ 10,624 | $ 12,262 | ||
Assets | 60,761 | 60,761 | 71,854 | |||
Loss from operations | (1,450) | (629) | (8,348) | (2,765) | ||
Depreciation and amortization | 636 | 638 | 1,918 | 1,920 | ||
Income tax benefit | (26) | (31) | (18) | (367) | ||
Intersegment Eliminations [Member] | ||||||
Product sales | 1,423 | 860 | 4,005 | 2,354 | ||
Hardware [Member] | ||||||
Long-lived assets | 1,529 | 1,529 | 1,677 | |||
Assets | 38,920 | 38,920 | 47,237 | |||
Hardware [Member] | Operating Segments [Member] | ||||||
Product sales | 13,324 | 13,419 | 33,269 | 36,041 | ||
Loss from operations | 2,302 | 2,495 | 2,661 | 6,204 | ||
Depreciation and amortization | 97 | 95 | 297 | 285 | ||
Income tax benefit | 0 | (13) | 8 | 1,053 | ||
Hardware [Member] | Intersegment Eliminations [Member] | ||||||
Product sales | 0 | 0 | 0 | 0 | ||
Software [Member] | ||||||
Long-lived assets | 9,095 | 9,095 | 10,585 | |||
Assets | 21,841 | 21,841 | $ 24,617 | |||
Software [Member] | Operating Segments [Member] | ||||||
Product sales | 938 | 733 | 2,693 | 1,956 | ||
Loss from operations | (3,752) | (3,124) | (11,009) | (8,969) | ||
Depreciation and amortization | 539 | 543 | 1,621 | 1,635 | ||
Income tax benefit | (26) | (26) | (1,420) | |||
Software [Member] | Intersegment Eliminations [Member] | ||||||
Product sales | $ 1,423 | $ 860 | $ 4,005 | $ 2,354 |
Note 19 - Major Customers, Su_3
Note 19 - Major Customers, Suppliers and Related Information (Details Textual) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2023 USD ($) | Jun. 30, 2022 USD ($) | |
Product sales | $ 14,262 | $ 14,152 | $ 35,962 | $ 37,997 |
UNITED STATES | ||||
Product sales | $ 12,177 | $ 12,631 | $ 29,526 | $ 31,466 |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||||
Number Of Major Customers | 1 | 1 | 1 | 1 |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer 1 [Member] | ||||
Concentration Risk, Percentage | 68% | 70% | ||
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | One Customer [Member] | ||||
Concentration Risk, Percentage | 77% | 61% | ||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | ||||
Number Of Major Customers | 2 | 2 | ||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer 1 [Member] | ||||
Concentration Risk, Percentage | 69% | 61% | ||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer 2 [Member] | ||||
Concentration Risk, Percentage | 11% | 19% |
Note 19 - Major Customers, Su_4
Note 19 - Major Customers, Suppliers and Related Information - Schedule of Major Customers (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
Product sales | $ 14,262 | $ 14,152 | $ 35,962 | $ 37,997 |
Americas [Member] | ||||
Product sales | 13,189 | 12,674 | 32,371 | 32,205 |
Asia Pacific [Member] | ||||
Product sales | 491 | 514 | 1,795 | 2,969 |
EMEA [Member] | ||||
Product sales | $ 582 | $ 964 | $ 1,796 | $ 2,823 |
Note 19 - Major Customers, Su_5
Note 19 - Major Customers, Suppliers and Related Information - Schedule of Long-lived Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 |
Long-lived assets | $ 10,624 | $ 10,624 | $ 12,262 |
UNITED STATES | |||
Long-lived assets | 10,207 | 11,800 | |
Non-US [Member] | |||
Long-lived assets | 10 | 16 | |
Asia Pacific [Member] | |||
Long-lived assets | 0 | 0 | |
EMEA [Member] | |||
Long-lived assets | $ 407 | $ 446 |