Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Dec. 31, 2023 | Feb. 09, 2024 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Dec. 31, 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, $0.00001 par value per share | |
Trading Symbol | GNSS | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding (in shares) | 44,027,121 | |
Entity Central Index Key | 0000924383 | |
Current Fiscal Year End Date | --09-30 | |
Document Fiscal Year Focus | 2025 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Dec. 31, 2023 | Sep. 30, 2023 |
ASSETS | ||
Cash and cash equivalents | $ 4,780 | $ 8,665 |
Short-term marketable securities | 8,777 | 1,481 |
Restricted cash | 0 | 758 |
Accounts receivable, net of allowance for credit losses of $65 | 4,435 | 5,952 |
Inventories, net | 6,890 | 6,501 |
Prepaid expenses and other | 2,100 | 1,851 |
Total current assets | 26,982 | 25,208 |
Long-term restricted cash | 346 | 96 |
Property and equipment, net | 1,587 | 1,551 |
Goodwill | 13,151 | 10,282 |
Intangible assets, net | 10,366 | 8,427 |
Operating lease right of use assets | 3,712 | 3,886 |
Other assets | 494 | 455 |
Total assets | 56,638 | 49,905 |
Accrued liabilities | 8,618 | 7,466 |
Accounts payable | 1,897 | 2,785 |
Operating lease liabilities, current portion | 1,031 | 1,008 |
Total current liabilities | 11,546 | 11,259 |
Other liabilities, noncurrent | 509 | 551 |
Operating lease liabilities, noncurrent | 4,030 | 4,283 |
Total liabilities | 16,085 | 16,093 |
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; 44,027,121 and 37,211,071 shares issued and outstanding, respectively | 0 | 0 |
Additional paid-in capital | 123,725 | 110,379 |
Accumulated deficit | (82,786) | (76,062) |
Accumulated other comprehensive loss | (386) | (505) |
Total stockholders' equity | 40,553 | 33,812 |
Total liabilities and stockholders' equity | $ 56,638 | $ 49,905 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2023 | Sep. 30, 2023 |
Accounts Receivable, Allowance for Credit Loss, Current | $ 65 | $ 65 |
Preferred stock, par value (in dollars per share) | $ 0.00001 | $ 0.00001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred Stock, Shares Issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common Stock, Par or Stated Value Per Share (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) | 44,027,121 | 37,211,071 |
Common Stock, Shares, Issued (in shares) | 44,027,121 | 37,211,071 |
Common stock, $0.00001 par value; 100,000,000 shares authorized; 44,027,121 and 37,211,071 shares issued and outstanding, respectively | $ 0 | $ 0 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Revenues: | ||
Revenues | $ 4,361 | $ 10,487 |
Cost of revenues | 2,882 | 5,655 |
Gross profit | 1,479 | 4,832 |
Operating expenses | ||
Selling, general and administrative | 6,518 | 6,384 |
Research and development | 2,191 | 1,935 |
Total operating expenses | 8,709 | 8,319 |
Loss from operations | (7,230) | (3,487) |
Other income (expense), net | 77 | (20) |
Loss before income taxes | (7,153) | (3,507) |
Income tax benefit | (429) | 0 |
Net loss | $ (6,724) | $ (3,507) |
Net loss per common share - basic and diluted (in dollars per share) | $ (0.15) | $ (0.1) |
Weighted average common shares outstanding: | 43,729,240 | 36,696,145 |
Product [Member] | ||
Revenues: | ||
Revenues | $ 2,166 | $ 9,118 |
Service [Member] | ||
Revenues: | ||
Revenues | $ 2,195 | $ 1,369 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Net loss | $ (6,724) | $ (3,507) |
Unrealized gain (loss) on marketable securities | 10 | 21 |
Unrealized foreign currency (loss) gain | 109 | 245 |
Comprehensive loss | $ (6,605) | $ (3,241) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Operating Activities: | ||
Net loss | $ (6,724) | $ (3,507) |
Adjustments to reconcile net income to net cash used in operating activities: | ||
Depreciation and amortization | 729 | 643 |
Amortization of debt issuance costs | 0 | 5 |
Warranty provision | (22) | 24 |
Inventory obsolescence | 39 | 46 |
Loss on disposition of fixed assets | 2 | 0 |
Stock-based compensation | 446 | 420 |
Partial release of valuation allowance | (517) | 0 |
Amortization of operating lease right of use asset | 192 | 199 |
Accretion of acquisition holdback liability | 5 | 12 |
Accretion of acquisition contingent consideration | 46 | 0 |
Depreciation and amortization | 729 | 643 |
Increase (Decrease) in Operating Capital [Abstract] | ||
Accounts receivable, net | 1,666 | 3,482 |
Inventories, net | (429) | (2,041) |
Prepaid expenses and other | (249) | 624 |
Accounts payable | (902) | 249 |
Accrued and other liabilities | (11) | (5,006) |
Net cash used in operating activities | (5,729) | (4,850) |
Investing Activities: | ||
Purchases of marketable securities | (7,532) | (1,994) |
Proceeds from maturities of marketable securities | 247 | 1,609 |
Cash paid for acquisitions | (923) | 0 |
Cash paid for asset purchase holdback liability | (764) | 0 |
Capital expenditures | (142) | (98) |
Net cash used in investing activities | (9,114) | (483) |
Financing Activities: | ||
Proceeds from exercise of stock options | 0 | 32 |
Proceeds from offering of common stock, net of issuance costs | 10,449 | 0 |
Net cash provided by financing activities | 10,449 | 32 |
Effect of foreign exchange rate on cash | 1 | 39 |
Net decrease in cash, cash equivalents, and restricted cash | (4,393) | (5,262) |
Cash, cash equivalents and restricted cash, beginning of period | 9,519 | 13,659 |
Cash, cash equivalents and restricted cash, end of period | 5,126 | 8,397 |
Cash and cash equivalents | 4,780 | 7,563 |
Restricted cash, current portion | 0 | 738 |
Long-term restricted cash | 346 | 96 |
Total cash, cash equivalents and restricted cash shown in the consolidated statement of cash flows | 5,126 | 8,397 |
Noncash investing and financing activities: | ||
Change in unrealized loss on marketable securities | 10 | 21 |
Amika Mobile [Member] | ||
Noncash investing and financing activities: | ||
Obligation to issue common stock in connection with purchase | 0 | (416) |
Evertel Technologies, LLC [Member] | ||
Noncash investing and financing activities: | ||
Obligation to issue common stock in connection with purchase | (527) | 0 |
Shares issued in connection with the Evertel acquisition | (1,924) | 0 |
Contingent consideration payable in connection with the Evertel acquisition | (890) | 0 |
Holdback liability payable in connection with the Evertel acquisition | $ (230) | $ 0 |
Note 1 - Operations
Note 1 - Operations | 3 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. OPERATIONS Genasys Inc. is a global provider of Protective Communications™ solutions including its Genasys Protect™ software platform and Genasys Long Range Acoustic Devices® (“LRAD®”). The Company's unified platform receives information from a wide variety of sensors and Internet-of-Things (“IoT”) inputs to collect real-time information on developing and active emergency situations. The Company uses this information to create and disseminate alerts, warnings, notifications, and instructions through multiple channels before, during, and after public safety and enterprise threats, critical events, and other crisis situations. |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation and Significant Accounting Policies | 3 Months Ended |
Dec. 31, 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, 2023, included in the Company’s Annual Report on Form 10-K, as filed with the SEC on December 7, 2023. The accompanying condensed consolidated balance sheet as of September 30, 2023, has been derived from the audited consolidated balance sheet as of September 30, 2023, 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 nine 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 December 31, 2023, the amount of cash and cash equivalents was $4,780. As of September 30, 2023, the amount of cash and cash equivalents was $8,665. 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 December 31, 2023, restricted cash was $346. As of September 30, 2023, restricted cash was $854. Accounts receivable and allowance for credit losses The Company adopted Accounting Standards Update (“ASU”) No. 2019-10, Financial Instruments Credit Losses ( ASC 326 ), The Company maintains an allowance for credit losses primarily for estimated losses resulting from the inability or failure of individual customers to make required payments. The Company maintains an allowance under ASC 326 , The Company’s allowance for credit losses was $65 as of December 31, 2023 and September 30, 2023. The Company writes-off accounts receivable based on the age of the receivable and the facts and circumstances surrounding the customer and reasons for non-payment. Actual write-offs might differ from the recorded allowance. 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 | 3 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | 3. RECENT ACCOUNTING PRONOUNCEMENTS Recently adopted pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued 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 ) Accounting pronouncements not yet adopted In November 2023, the FASB issued ASU No. 2023-07, “ Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU No. 2023-09, “ Income Taxes (Topic 740): Improvements to Income Tax Disclosures |
Note 4 - Business Combinations
Note 4 - Business Combinations | 3 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 4. BUSINESS COMBINATIONS On October 4, 2023, the Company completed the acquisition of all of the membership interests in Evertel Technologies, LLC. (“Evertel”), pursuant to a Membership Interest Purchase Agreement (“Purchase Agreement”) with Word Systems Operations, LLC (“Seller”) and Evertel Technologies, LLC. Evertel offers a secure and compliant mission-critical collaboration platform for the public safety market that connects public safety personnel, information, and tools in one space. The Evertel acquisition was accounted for as a business combination using the acquisition method pursuant to ASC Topic 805 . The consideration consisted of the following: Cash paid $ 923 Common stock issued 1,924 Contingent consideration 890 Acquisition holdback liability 230 Common stock to be issued 527 $ 4,494 The Company funded the cash portion of the total consideration with available cash on hand. The Company also issued 986,486 shares of the Company’s common stock to the former owners of Evertel. The fair value of the Company’s stock on the closing date was $1.95, resulting in the addition of $1,924 to additional-paid-in-capital. The contingent consideration liability is a current liability and recorded in the current portion of accrued liabilities as of December 31, 2023. Under the terms of the Purchase Agreement, the Company also recorded a holdback liability and an obligation to issue common stock as security for potential indemnification claims against the seller. The holdback liability and the common stock will be released twelve months from the closing date, subject to amounts withheld for actual, pending or potential claims. The Company incurred $39 in expenses related to this transaction. The expenses were incurred in the fourth quarter of fiscal year 2023 and recorded the expense in selling, general and administrative expenses in the consolidated statement of operations. The preliminary allocation of the purchase price as of the acquisition date is as follows: Assets acquired Accounts receivable $ 142 Prepaid expenses 27 Intangible assets 2,550 Goodwill 2,772 Total Assets $ 5,491 Liabilities assumed Accrued commissions $ 10 Deferred revenue 470 Deferred tax liability 517 Total liabilities 997 Net assets acquired $ 4,494 The estimated fair value of identifiable intangible assets acquired and their estimated useful lives are as follows: Fair Value Est.Useful Life (in years) Developed technology $ 2,290 7 Customer relationships 260 5 $ 2,550 Identifiable intangible assets consist of certain technology and customer relationships purchased from Evertel. Identifiable intangible assets are amortized over their estimated useful lives based upon several assumptions, including the estimated period of economic benefit and utilization. The weighted average amortization period for identifiable intangible assets acquired is 6.8 years. These intangible assets are classified as Level 3 in the ASC Topic 820 three-tier fair value hierarchy. The goodwill for Evertel is attributable to combining the Company’s existing emergency communications solutions with the software and software development capabilities of Evertel to enhance product offerings. Goodwill is also attributable to the skill level of the acquired workforce. The Company will continue to analyze the transaction and refine its calculations, as appropriate during the measurement period, which could affect the value of goodwill. Goodwill from the Evertel acquisition will not be deductible for tax purposes. The Company has included the operating results of Evertel in continuing operations in its unaudited condensed consolidated financial statements since the aquisition date. $209 in net revenues and $195 in net loss of Evertel were included in the unaudited condensed consolidated financial statements for the three months ended December 31, 2023. |
Note 5 - Revenue Recognition
Note 5 - Revenue Recognition | 3 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 5. REVENUE RECOGNITON 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 December 31, 2023 and September 30, 2023, 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, 2023 $ 766 $ 3,254 $ 4,020 New performance obligations 819 1,583 2,402 Recognition of revenue as a result of satisfying performance obligations (363 ) (1,342 ) (1,705 ) Effect of exchange rate on deferred revenue - 5 5 Balance as of December 31, 2023 $ 1,222 $ 3,500 $ 4,722 Less: non-current portion - (509 ) (509 ) Current portion as of December 31, 2023 $ 1,222 $ 2,991 $ 4,213 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 December 31, 2023, the aggregate amount of the transaction price allocated to remaining performance obligations was approximately $4,722. The Company expects to recognize revenue on approximately $4,213 or 89% 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 is 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 6 - Fair Value Measurement
Note 6 - Fair Value Measurements | 3 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 6. FAIR VALUE MEASUREMENTS The Company’s financial instruments consist principally of cash equivalents, short and long-term marketable securities, accounts receivable and accounts payable. The fair value of a financial instrument is the amount that would be received in an asset sale or paid to transfer a liability in an orderly transaction between unaffiliated market participants. Assets and liabilities measured at fair value are categorized based on whether or not 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 December 31, 2023 Cost Basis Gross Unrealized Gain Gross Unrealized Loss Fair Value Cash Equivalents Short-term Securities Long-term Securities Level 1: Money market funds $ 1,060 $ - $ - $ 1,060 $ 1,060 $ - $ - Level 2: Certificates of deposit 302 - - 302 - 302 - U.S. government agency bonds 1,161 - - 1,161 - 1,161 - Municipal securities 3,707 4 (3 ) 3,708 - 3,708 - Corporate bonds 3,607 1 (2 ) 3,606 - 3,606 - Subtotal 8,777 5 (5 ) 8,777 - 8,777 - Total $ 9,837 $ 5 $ (5 ) $ 9,837 $ 1,060 $ 8,777 $ - September 30, 2023 Cost Basis Gross Unrealized Gain Gross Unrealized Loss Fair Value Cash Equivalents Short-term Securities Long-term Securities Level 1: Money market funds $ 2,307 $ - $ - $ 2,307 $ 2,307 $ - $ - Level 2: Certificates of deposit 301 - - 301 - 301 - Municipal securities 926 - (7 ) 919 - 919 - Corporate bonds 264 - (3 ) 261 - 261 - Subtotal 1,491 - (10 ) 1,481 - 1,481 - Total $ 3,798 $ - $ (10 ) $ 3,788 $ 2,307 $ 1,481 $ - The Company manages debt investments as a single portfolio of highly marketable securities that is intended to be available to meet current cash requirements. Historically, the gross unrealized losses related to the Company’s portfolio of available-for-sale debt securities were immaterial, and primarily due to normal market fluctuations and not due to increased credit risk or other valuation concerns. Gross unrealized losses on available-for-sale debt securities was $5 as of December 31, 2023, and historically, such gross unrealized losses have been temporary in nature. The Company believes that it is probable the principal and interest will be collected in accordance with the contractual terms. The debt investment portfolio is reviewed at least quarterly, or when there are changes in credit risks or other potential valuation concerns, to identify and evaluate whether an allowance for credit losses or impairment would be necessary. Factors considered in determining whether a loss is temporary include the magnitude of the decline in market value, the length of time the market value has been below cost (or adjusted cost), credit quality, and the Company’s ability and intent to hold the securities for a period of time sufficient to allow for any anticipated recovery in market value. The following table summarizes the fair value and gross unrealized losses related to available-for-sale debt securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2023 and September 30, 2023: As of December 31, 2023 In loss position < 12 months In loss position > 12 months Total in loss position Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Certificates of deposit $ - $ - $ - $ - $ - $ - U.S. government agency bonds - - - - - - Municipal securities 628 (1 ) 132 (2 ) 760 (3 ) Corporate bonds 2,882 (2 ) - - 2,882 (2 ) $ 3,510 $ (3 ) $ 132 $ (2 ) $ 3,642 $ (5 ) As of September 30, 2023 In loss position < 12 months In loss position > 12 months Total in loss position Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Certificates of deposit $ - $ - $ - $ - $ - $ - U.S. government agency bonds - - - - - - Municipal securities 684 (2 ) 235 (5 ) 919 (7 ) Corporate bonds - - 261 (3 ) 261 (3 ) $ 684 $ (2 ) $ 496 $ (8 ) $ 1,180 $ (10 ) 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. The following table presents nonfinancial assets that were subject to fair value measurement during the three months December 31, 2023 . no Fair Value Measurements at December 31, 2023 Carrying Value (Level 1) (Level 2) (Level 3) Gain/(Loss) Intangible assets from Evertel acquisition $ 2,550 $ - $ - $ 2,550 $ - Goodwill from Evertel acquisition $ 2,772 $ - $ - $ 2,772 $ - Contingent consideration liability Value at acquisition date $ 890 Remeasurement estimate 46 Balance as of December 31, 2023 $ 936 Acquisition holdback liability Balance at acquisition date $ 230 Accretion 5 Balance as of December 31, 2023 $ 235 |
Note 7 - Inventories, Net
Note 7 - Inventories, Net | 3 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 7. INVENTORIES, NET Inventories, net consisted of the following: December 31, September 30, 2023 2023 Raw materials $ 4,268 $ 5,086 Finished goods 1,865 1,029 Work in process 1,625 1,218 Inventories, gross 7,758 7,333 Reserve for obsolescence (868 ) (832 ) Inventories, net $ 6,890 $ 6,501 |
Note 8 - Property and Equipment
Note 8 - Property and Equipment, Net | 3 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 8. PROPERTY AND EQUIPMENT, NET Property and equipment, net consisted of the following: December 31, September 30, 2023 2023 Office furniture and equipment $ 1,526 $ 1,582 Machinery and equipment 1,480 1,441 Leasehold improvements 2,313 2,302 Construction in progress 53 - Property and equipment, gross 5,372 5,325 Accumulated depreciation (3,785 ) (3,774 ) Property and equipment, net $ 1,587 $ 1,551 Depreciation and amortization expense for property and equipment was $110 and $111 for the three months ended December 31, 2023 and 2022, respectively. |
Note 9 - Goodwill and Intangibl
Note 9 - Goodwill and Intangible Assets | 3 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 9. GOODWILL AND INTANGIBLE ASSETS Goodwill is attributable to the acquisitions of Genasys Spain, Zonehaven, Evertel, 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. As of December 31, 2023 and September 30, 2023, goodwill was $13,151 and $10,282 respectively. During the three months ended December 31, 2023, $2,772 was added to goodwill as a result of the Evertel acquisition. There were no The changes in the carrying amount of goodwill by segment for the three months ended December 31, 2023, were as follows: Hardware Software Total Balance as of September 30, 2023 $ - $ 10,282 $ 10,282 Acquisitions - 2,772 2,772 Currency translation - 97 97 Balance as of December 31, 2023 $ - $ 13,151 $ 13,151 The changes in the carrying amount of intangible assets by segment for the three months ended December 31, 2023, were as follows: Hardware Software Total Balance as of September 30, 2023 $ 17 $ 8,410 $ 8,427 Acquisitions - 2,550 2,550 Amortization (1 ) (618 ) (619 ) Currency translation - 8 8 Balance as of December 31, 2023 $ 16 $ 10,350 $ 10,366 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 $105. The Company’s consolidated intangible assets consisted of the following: December 31, September 30, 2023 2023 Technology $ 14,246 $ 11,930 Customer relationships 2,075 1,790 Trade name portfolio 614 605 Non-compete agreements 232 223 Patents 72 72 17,239 14,620 Accumulated amortization (6,873 ) (6,193 ) $ 10,366 $ 8,427 As of December 31, 2023, future amortization expense is as follows: Fiscal year ending September 30, 2024 (remaining nine months) 1,861 2025 2,358 2026 2,222 2027 2,048 2028 1,220 Thereafter 657 Total estimated amortization expense $ 10,366 Amortization expense was $619 and $532 for the three months ended December 31, 2023 and 2022, respectively. |
Note 10 - Prepaid Expenses and
Note 10 - Prepaid Expenses and Other | 3 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Prepaid Expenses And Other Disclosure [Text Block] | 10. PREPAID EXPENSES AND OTHER Prepaid expenses and other current assets consisted of the following: December 31, September 30, 2023 2023 Deposits for inventory $ 48 $ 301 Prepaid insurance 261 264 Dues and subscriptions 363 261 Prepaid professional services 438 136 Prepaid commissions 441 417 Trade shows and travel 93 150 Canadian goods and services and harmonized sales tax receivable 114 123 Other 342 199 $ 2,100 $ 1,851 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 professional services Prepaid professional services consist of payments made in advance for services such as accounting, consulting and legal services. 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 11 - Accrued and Other Lia
Note 11 - Accrued and Other Liabilities | 3 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Current and Noncurrent Accrued Liabilities [Text Block] | 11. ACCRUED AND OTHER LIABILITIES Accrued liabilities consisted of the following: December 31, September 30, 2023 2023 Payroll and related $ 2,104 $ 2,237 Deferred revenue 2,991 2,703 Customer deposits 1,222 766 Accrued contract costs 897 825 Warranty reserve 110 132 Asset purchase holdback liability - 736 Acquisition holdback liability 235 - Acquisition contingent consideration liability 936 - Other 123 67 Total $ 8,618 $ 7,466 Other liabilities-noncurrent consisted of the following: December 31, September 30, 2023 2023 Deferred revenue $ 509 $ 551 Payroll and related Payroll and related consisted primarily of accrued vacation, bonus, sales commissions and benefits. Deferred revenue Deferred revenue as of December 31, 2023, included prepayments from customers for services, including extended warranty, scheduled to be performed in the twelve months ending December 31, 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 December 31, 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. Warranty reserve Changes in the warranty reserve and extended warranty were as follows: December 31, September 30, 2023 2023 Beginning balance $ 132 $ 159 Warranty provision (22 ) 40 Warranty settlements - (67 ) Ending balance $ 110 $ 132 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. 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. The holdback liability was paid to the seller of the Amika Mobile assets on October 6, 2023. The liability was recorded at fair value as of September 30, 2023. Acquisition holdback liability In connection with the Evertel acquisition, the Company recorded a holdback liability related to potential misrepresentations and indemnifications against third-party claims. The holdback liability will be released twelve months from the closing date, subject to amounts withheld for actual, pending or potential claims. The holdback liability was recorded at the present value which was the fair value at the acquisition date. Accretion is recorded in each subsequent reporting period based on the discount factor used to arrive at the original fait value. This change in fair value is recorded in the accompanying condensed consolidated statement of operations. Contingent consideration liability In connection with the Evertel acquisition, the Company recorded a liability related to future performance criteria, The contingent consideration liability was recorded at the fair value at the acquisition date. The liability has and will be adjusted at each reporting period as progress towards the contingent consideration criteria is achieved. 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 12 - Leases
Note 12 - Leases | 3 Months Ended |
Dec. 31, 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, 2023, and the balances as of December 31, 2023, including the changes during the periods. Operating lease ROU assets Operating lease ROU assets as of September 30, 2023 $ 3,886 Additional operating lease ROU assets - Less amortization of operating lease ROU assets (192 ) Effect of exchange rate on operating lease ROU assets 18 Operating lease ROU assets as of December 31, 2023 $ 3,712 Operating lease liabilities Operating lease liabilities as of September 30, 2022 $ 5,291 Additional operating lease liabilities - Less lease principal payments on operating lease liabilities (248 ) Effect of exchange rate on operating lease liabilities 18 Operating lease liabilities as of December 31, 2023 5,061 Less non-current portion (4,030 ) Current portion as of December 31, 2023 $ 1,031 As of December 31, 2023, the Company’s operating leases have a weighted-average remaining lease term of 4.5 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, 2024 (remaining nine months) $ 909 2025 1,186 2026 1,200 2027 1,221 2028 1,047 Thereafter - Total undiscounted operating lease payments 5,563 Less imputed interest (502 ) Present value of operating lease liabilities $ 5,061 For the three months ended December 31, 2023 and 2022, total lease expense under operating leases was approximately $245 and $264, respectively. The Company recorded $5 in short-term lease expense during the three months ended December 31, 2023 and did not |
Note 13 - Income Taxes
Note 13 - Income Taxes | 3 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 13. INCOME TAXES The Company’s effective tax rate for the three months ended December 31, 2023 and 2022 was negative 6.0% and 0%, respectively. The income tax benefit of $429 for the three months ended December 31, 2023 is primarily attributable to the partial release of $517 of U.S. valuation allowance in conjunction with the acquisition of Evertel as the acquired net deferred tax liabilities will provide a source of income for the Company to realize a portion of its deferred tax assets, for which a valuation allowance is no longer needed, refer to Note 4, Business Combinations, for additional information. For the three months ended December 31, 2022, the Company did not The Company continues to maintain a full valuation allowance against its U.S. and foreign deferred tax assets. ASC 740, Income Taxes, requires the Company to recognize in its consolidated financial statements uncertainties in tax positions taken that may not be sustained upon examination by the taxing authorities. If interest or penalties are assessed, the Company would recognize these charges as income tax expense. The Company has not |
Note 14 - Commitments and Conti
Note 14 - Commitments and Contingencies | 3 Months Ended |
Dec. 31, 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 three months ended December 31, 2023, the recorded $40 in bonus expense. In the three months ended December 31, 2022, the Company recorded $548 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. The holdback liability was paid to the seller of the Amika Mobile assets on October 6, 2023. The liability was recorded at fair value as of September 30, 2023. The Company also agreed to issue 191,267 shares of the Company’s common stock to the seller of the Amika Mobile assets on each of the first, second 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, 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 the seller of the Amika Mobile assets. During the year ended September 30, 2023, the Company issued 69,564 shares of common stock to the seller of the Amika Mobile assets. There were 69,564 remaining shares of the Company’s common stock subject to issuance under this obligation as of September 30, 2023. These shares were issued on October 2, 2023. Evertel Acquisition In connection with the Evertel acquisition, the Company recorded a liability related to future performance criteria, A payment of up to $1,050 is payable based on future performance. The contingent consideration liability was recorded at the fair value at the acquisition date. The Company engaged independent valuation experts to assist in determining the fair value of this contingent consideration. During each reporting period through March 31, 2023, the Company will adjust the contingent consideration liability as performance criteria are achieved. The fair value was $926, as of December 31, 2023. Also, in connection with the Evertel acquisition, the Company recorded a holdback liability related to potential misrepresentations and indemnifications against third-party claims. The holdback liability will be released twelve months from the closing date, subject to amounts withheld for actual, pending or potential claims. The holdback liability was recorded at the present value which was the fair value at the acquisition date. Accretion is recorded in each subsequent reporting period based on the discount factor used to arrive at the original fait value. This change in fair value is recorded in the accompanying condensed consolidated statement of operations. The fair value was $235, as of December 31, 2023. The Company also agreed to issue 270,270 shares of the Company’s common stock to the seller of Evertel twelve months from the closing date. The fair value of the Company’s common stock on the closing date was $1.95, resulting in the addition of $527 to additional paid-in-capital. |
Note 15 - Share-based Compensat
Note 15 - Share-based Compensation | 3 Months Ended |
Dec. 31, 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 December 31, 2023, there were options and restricted stock units outstanding covering 4,146,369 shares of common stock under the 2015 Equity Plan, respectively, and 2,302,827 shares of common stock available for grant, for a total of 6,449,196 shares of common stock authorized and unissued under the 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. There were 887,250 stock options granted during the three months ended December 31, 2023. There were 1,204,000 stock options granted during the three months ended December 31, 2022. The weighted average estimated fair value of employee stock options granted during the three months ended December 31, 2023 and 2022, was calculated using the Black-Scholes option-pricing model with the following weighted average assumptions (annualized percentages): Three months ended December 31, 2023 2022 Volatility 57.8 % 52.1 % Risk-free interest rate 4.3 % 4.1 % Dividend yield 0.0 % 0.0 % Expected term in years 4.2 6.1 Expected volatility is based on the historical volatility of the Company’s common stock over the period commensurate with the expected term of the options. The risk-free interest rate is based on rates published by the Federal Reserve Board. The contractual term of the options was seven not not As of December 31, 2023, there was approximately $2,154 of total unrecognized compensation costs related to outstanding employee stock options. This amount is expected to be recognized over a weighted average period of 2.4 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 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 October 8, 2022, the Company awarded performance-based stock options to purchase 800,000 shares of the Company’s common stock to a key executive, 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 Restricted stock units 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 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 vested on the first anniversary of the grant date. These were issued at a market value of $29, which were expensed on a straight-line basis though the November 1, 2023 vest date. On November 1, 2023, 10,000 RSUs were granted to a non-employee advisor that will vest on the first anniversary of the grant date. These were issued at a market value of $17, which have and will be expensed on a straight-line basis though the November 1, 2024, 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 $228 and $198 for the three months ended December 31, 2023 and 2022, respectively. As of December 31, 2023, there was approximately $666 of total unrecognized compensation costs related to outstanding RSUs. This amount is expected to be recognized over a weighted average period of 1.1 years. A summary of the Company’s RSUs as of December 31, 2023 is presented below: Number of Shares Weighted Average Grant Date Fair Value Outstanding September 30, 2023 379,597 $ 3.94 Granted 10,000 $ 1.73 Released (10,000 ) $ 2.87 Forfeited/cancelled - $ - Outstanding December 31, 2023 379,597 $ 3.91 Stock option summary information A summary of the activity in options to purchase the capital stock of the Company as of December 31, 2023 is presented below: Number of Shares Weighted Average Exercise Price Outstanding September 30, 2023 2,904,522 $ 3.19 Granted 887,250 $ 1.70 Forfeited/expired (25,000 ) $ 1.70 Exercised - $ - Outstanding December 31, 2023 3,766,772 $ 2.85 Exerciseable December 31, 2023 992,981 $ 3.48 Options outstanding are exercisable at prices ranging from $1.51 to $8.03 per share and expire over the period from 2024 to 2030 with an average life of 5.5 years. The aggregate intrinsic value of options outstanding and exercisable as of December 31, 2023 was $322 and $29, respectively. 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 $2.03 per share, and the exercise price multiplied by the number of applicable options. The total intrinsic value of stock options exercised during the three months ended December 31, 2023 was $0 and proceeds from these exercises was $0. The total intrinsic value of stock options exercised during the three months ended December 31, 2022 was $23 and proceeds from these exercises was $32. The following table summarized information about stock options outstanding as of December 31, 2023: Weighted Average Weighted Average Weighted Average Range of Number Remaining Exercise Number Exercise Exercise Prices Outstanding Contractual Term Price Exercisable Price $1.51 - $1.76 991,407 6.29 $ 1.71 104,157 $ 1.75 $2.64 - $2.68 88,000 6.60 $ 2.67 - $ - $2.69 - $2.69 1,100,000 5.77 $ 2.69 125,000 $ 2.69 $3.09 - $8.03 1,587,365 4.75 $ 3.69 763,824 $ 3.84 3,766,772 5.49 $ 2.85 992,981 $ 3.48 The Company recorded $218 and $222 of stock option compensation expense for employees, directors and consultants for the three months ended December 31, 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 December 31, 2023 2022 Cost of revenues $ 39 $ 28 Selling, general and administrative 380 373 Research and development 27 19 $ 446 $ 420 |
Note 16 - Stockholders' Equity
Note 16 - Stockholders' Equity | 3 Months Ended |
Dec. 31, 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 three months ended December 31, 2023 and the three months ended December 31, 2022 (amounts in thousands, except par value and share amounts): Common Stock Additional Accumulated Other Total Par Value Paid-in Accumulated Comprehensive Stockholders' Shares Amount Capital Deficit Loss Equity Balance as of September 30, 2023 37,211,071 $ 372 $ 110,379 $ (76,062 ) $ (505 ) $ 33,812 Share-based compensation expense - - 446 - - 446 Issuance of common stock upon offering, net of issuance costs 5,750,000 57 10,449 - - 10,449 Issuance of common stock upon vesting of restricted stock units 10,000 - - - - - Issuance of common stock in business combination 986,486 10 1,924 - - 1,924 Obligation to issue common stock - - 527 - - 527 Release of obligation to issue common stock 69,564 1 - - - - Accumulated other comprehensive loss - - - - 119 119 Net loss - - - (6,724 ) - (6,724 ) Balance as of December 31, 2023 44,027,121 $ 440 $ 123,725 $ (82,786 ) $ (386 ) $ 40,553 Accumulated Common Stock Additional Other Total Par Value Paid-in Accumulated Comprehensive Stockholders' Shares Amount Capital Deficit Loss 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 common stock 69,564 1 - - - Accumulated other comprehensive loss - - - - 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 Common stock activity During the three months ended December 31, 2023, there were no On October 4, 2023, the Company completed an underwritten offering of 5,750,000 shares of its common stock at a public offering price of $2.00 per share of common stock. The Company received gross proceeds of approximately $11,500 from the offering, before underwriting discounts and commissions and offering expenses of $1,051. The Company intends to use the net proceeds from this offering for general corporate purposes, including funding organic growth, working capital, capital expenditures, and continued research and development with respect to products and technologies, as well as costs related to post-closing integration with the Evertel business and research and development activities related to the integrated business. In connection with the Evertel acquisition, the Company issued 986,486 shares of common stock to the former owners of Evertel. The fair value of the Company’s stock on the closing date was $1.95 which resulted in the addition of $1,924 to additional-paid-in-capital. Also, in connection with the Evertel acquisition, the Company agreed to issue 270,270 shares of the Company’s common stock to the seller of Evertel twelve months from the closing date. The fair value of the Company’s common stock on the closing date was $1.95, resulting in the addition of $527 to additional paid-in-capital. 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 was obligated to issue was 573,801. The fair value of the Company’s common stock on the closing date was $5.98, 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. The Company issued 69,564 shares to the former owners of the Amika Mobile assets during each the years ended September 30, 2023 and 2022. During the three months ended December 31, 2023, the Company issued the final 69,564 shares to the former owners of the Amika Mobile assets. Share buyback program In December 2022, the Board of Directors extended the Company’s share buyback program through December 31, 2024. Under the program, the Company was authorized to repurchase up to $5,000 of its outstanding common shares. There were no Dividends There were no |
Note 17 - Net Loss Per Share
Note 17 - Net Loss Per Share | 3 Months Ended |
Dec. 31, 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 December 31, 2023 2022 Net loss $ (6,724 ) $ (3,507 ) Basic and diluted loss per share $ (0.15 ) $ (0.10 ) Weighted average shares outstanding - basic 43,729,240 36,696,145 Assumed exercise of dilutive options - - Weighted average shares outstanding - diluted 43,729,240 36,696,145 Potentially dilutive securities outstanding at period end excluded from diluted computation as the inclusion would have been antidilutive: Options 3,766,772 4,814,537 RSU 379,597 340,174 Obligation to issue common stock - 69,564 Total 4,146,369 5,224,275 |
Note 18 - Segment Information
Note 18 - Segment Information | 3 Months Ended |
Dec. 31, 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 December 31, 2023 2022 Revenue from external customers Hardware $ 2,946 $ 9,584 Software 1,415 903 $ 4,361 $ 10,487 Intersegment revenues Hardware $ - $ - Software 1,488 1,222 $ 1,488 $ 1,222 Segment operating loss Hardware $ (3,115 ) $ (28 ) Software (4,115 ) (3,459 ) $ (7,230 ) $ (3,487 ) Other expenses: Depreciation and amortization expense Hardware $ 96 $ 99 Software 633 544 $ 729 $ 643 Income tax benefit Hardware $ - $ - Software (429 ) - $ (429 ) $ - December 31, September 30, 2023 2023 Long-lived assets Hardware $ 1,467 $ 1,427 Software 10,486 8,551 $ 11,953 $ 9,978 Total assets Hardware $ 31,341 $ 28,878 Software 25,297 21,027 $ 56,638 $ 49,905 |
Note 19 - Major Customers, Supp
Note 19 - Major Customers, Suppliers and Related Information | 3 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 19. MAJOR CUSTOMERS, SUPPLIERS AND RELATED INFORMATION For the three months ended December 31, 2023, revenues from two three For the three months ended December 31, 2022, revenues from one two Revenue from customers in the United States was $3,624 and $8,938 for the three months ended December 31, 2023 and 2022, respectively. The following table summarizes revenues by geographic region. Revenues are attributed to countries based on customer’s delivery location. The following table summarizes revenues by geographic region. Three months ended December 31, 2023 2022 Americas $ 3,667 $ 9,163 Asia Pacific 319 759 Europe, Middle East and Africa 375 565 Total Revenues $ 4,361 $ 10,487 The following table summarizes long-lived assets by geographic region. December 31, September 30, 2023 2023 United States $ 11,637 $ 9,624 Americas (excluding the United States) 6 7 Europe, Middle East and Africa 310 347 Total long lived assets $ 11,953 $ 9,978 |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Dec. 31, 2023 | |
Insider Trading Arr Line Items | |
Material Terms of Trading Arrangement [Text Block] | Item 5. Other Information. During the quarter ended December 31, 2023, none |
Rule 10b5-1 Arrangement Adopted [Flag] | false |
Rule 10b5-1 Arrangement Terminated [Flag] | false |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Dec. 31, 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, 2023, included in the Company’s Annual Report on Form 10-K, as filed with the SEC on December 7, 2023. The accompanying condensed consolidated balance sheet as of September 30, 2023, has been derived from the audited consolidated balance sheet as of September 30, 2023, 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 nine 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 December 31, 2023, the amount of cash and cash equivalents was $4,780. As of September 30, 2023, the amount of cash and cash equivalents was $8,665. 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 December 31, 2023, restricted cash was $346. As of September 30, 2023, restricted cash was $854. |
Accounts Receivable [Policy Text Block] | Accounts receivable and allowance for credit losses The Company adopted Accounting Standards Update (“ASU”) No. 2019-10, Financial Instruments Credit Losses ( ASC 326 ), The Company maintains an allowance for credit losses primarily for estimated losses resulting from the inability or failure of individual customers to make required payments. The Company maintains an allowance under ASC 326 , The Company’s allowance for credit losses was $65 as of December 31, 2023 and September 30, 2023. The Company writes-off accounts receivable based on the age of the receivable and the facts and circumstances surrounding the customer and reasons for non-payment. Actual write-offs might differ from the recorded allowance. |
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 - Business Combinations
Note 4 - Business Combinations (Tables) | 3 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Cash paid $ 923 Common stock issued 1,924 Contingent consideration 890 Acquisition holdback liability 230 Common stock to be issued 527 $ 4,494 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Assets acquired Accounts receivable $ 142 Prepaid expenses 27 Intangible assets 2,550 Goodwill 2,772 Total Assets $ 5,491 Liabilities assumed Accrued commissions $ 10 Deferred revenue 470 Deferred tax liability 517 Total liabilities 997 Net assets acquired $ 4,494 |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | Fair Value Est.Useful Life (in years) Developed technology $ 2,290 7 Customer relationships 260 5 $ 2,550 |
Note 5 - Revenue Recognition (T
Note 5 - Revenue Recognition (Tables) | 3 Months Ended |
Dec. 31, 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, 2023 $ 766 $ 3,254 $ 4,020 New performance obligations 819 1,583 2,402 Recognition of revenue as a result of satisfying performance obligations (363 ) (1,342 ) (1,705 ) Effect of exchange rate on deferred revenue - 5 5 Balance as of December 31, 2023 $ 1,222 $ 3,500 $ 4,722 Less: non-current portion - (509 ) (509 ) Current portion as of December 31, 2023 $ 1,222 $ 2,991 $ 4,213 |
Note 6 - Fair Value Measureme_2
Note 6 - Fair Value Measurements (Tables) | 3 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | December 31, 2023 Cost Basis Gross Unrealized Gain Gross Unrealized Loss Fair Value Cash Equivalents Short-term Securities Long-term Securities Level 1: Money market funds $ 1,060 $ - $ - $ 1,060 $ 1,060 $ - $ - Level 2: Certificates of deposit 302 - - 302 - 302 - U.S. government agency bonds 1,161 - - 1,161 - 1,161 - Municipal securities 3,707 4 (3 ) 3,708 - 3,708 - Corporate bonds 3,607 1 (2 ) 3,606 - 3,606 - Subtotal 8,777 5 (5 ) 8,777 - 8,777 - Total $ 9,837 $ 5 $ (5 ) $ 9,837 $ 1,060 $ 8,777 $ - September 30, 2023 Cost Basis Gross Unrealized Gain Gross Unrealized Loss Fair Value Cash Equivalents Short-term Securities Long-term Securities Level 1: Money market funds $ 2,307 $ - $ - $ 2,307 $ 2,307 $ - $ - Level 2: Certificates of deposit 301 - - 301 - 301 - Municipal securities 926 - (7 ) 919 - 919 - Corporate bonds 264 - (3 ) 261 - 261 - Subtotal 1,491 - (10 ) 1,481 - 1,481 - Total $ 3,798 $ - $ (10 ) $ 3,788 $ 2,307 $ 1,481 $ - |
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value [Table Text Block] | As of December 31, 2023 In loss position < 12 months In loss position > 12 months Total in loss position Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Certificates of deposit $ - $ - $ - $ - $ - $ - U.S. government agency bonds - - - - - - Municipal securities 628 (1 ) 132 (2 ) 760 (3 ) Corporate bonds 2,882 (2 ) - - 2,882 (2 ) $ 3,510 $ (3 ) $ 132 $ (2 ) $ 3,642 $ (5 ) As of September 30, 2023 In loss position < 12 months In loss position > 12 months Total in loss position Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Fair Value Gross Unrealized Loss Certificates of deposit $ - $ - $ - $ - $ - $ - U.S. government agency bonds - - - - - - Municipal securities 684 (2 ) 235 (5 ) 919 (7 ) Corporate bonds - - 261 (3 ) 261 (3 ) $ 684 $ (2 ) $ 496 $ (8 ) $ 1,180 $ (10 ) |
Business Combination, Fair Value Measurement of Acquired Intangible Assets [ Table Text Block] | Fair Value Measurements at December 31, 2023 Carrying Value (Level 1) (Level 2) (Level 3) Gain/(Loss) Intangible assets from Evertel acquisition $ 2,550 $ - $ - $ 2,550 $ - Goodwill from Evertel acquisition $ 2,772 $ - $ - $ 2,772 $ - |
Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis [Table Text Block] | Value at acquisition date $ 890 Remeasurement estimate 46 Balance as of December 31, 2023 $ 936 Balance at acquisition date $ 230 Accretion 5 Balance as of December 31, 2023 $ 235 |
Note 7 - Inventories, Net (Tabl
Note 7 - Inventories, Net (Tables) | 3 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, September 30, 2023 2023 Raw materials $ 4,268 $ 5,086 Finished goods 1,865 1,029 Work in process 1,625 1,218 Inventories, gross 7,758 7,333 Reserve for obsolescence (868 ) (832 ) Inventories, net $ 6,890 $ 6,501 |
Note 8 - Property and Equipme_2
Note 8 - Property and Equipment, Net (Tables) | 3 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, September 30, 2023 2023 Office furniture and equipment $ 1,526 $ 1,582 Machinery and equipment 1,480 1,441 Leasehold improvements 2,313 2,302 Construction in progress 53 - Property and equipment, gross 5,372 5,325 Accumulated depreciation (3,785 ) (3,774 ) Property and equipment, net $ 1,587 $ 1,551 |
Note 9 - Goodwill and Intangi_2
Note 9 - Goodwill and Intangible Assets (Tables) | 3 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Changes in Finite Lived Intangible Assets [Table Text Block] | Hardware Software Total Balance as of September 30, 2023 $ - $ 10,282 $ 10,282 Acquisitions - 2,772 2,772 Currency translation - 97 97 Balance as of December 31, 2023 $ - $ 13,151 $ 13,151 Hardware Software Total Balance as of September 30, 2023 $ 17 $ 8,410 $ 8,427 Acquisitions - 2,550 2,550 Amortization (1 ) (618 ) (619 ) Currency translation - 8 8 Balance as of December 31, 2023 $ 16 $ 10,350 $ 10,366 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | December 31, September 30, 2023 2023 Technology $ 14,246 $ 11,930 Customer relationships 2,075 1,790 Trade name portfolio 614 605 Non-compete agreements 232 223 Patents 72 72 17,239 14,620 Accumulated amortization (6,873 ) (6,193 ) $ 10,366 $ 8,427 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Fiscal year ending September 30, 2024 (remaining nine months) 1,861 2025 2,358 2026 2,222 2027 2,048 2028 1,220 Thereafter 657 Total estimated amortization expense $ 10,366 |
Note 10 - Prepaid Expenses an_2
Note 10 - Prepaid Expenses and Other (Tables) | 3 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | December 31, September 30, 2023 2023 Deposits for inventory $ 48 $ 301 Prepaid insurance 261 264 Dues and subscriptions 363 261 Prepaid professional services 438 136 Prepaid commissions 441 417 Trade shows and travel 93 150 Canadian goods and services and harmonized sales tax receivable 114 123 Other 342 199 $ 2,100 $ 1,851 |
Note 11 - Accrued and Other L_2
Note 11 - Accrued and Other Liabilities (Tables) | 3 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | December 31, September 30, 2023 2023 Payroll and related $ 2,104 $ 2,237 Deferred revenue 2,991 2,703 Customer deposits 1,222 766 Accrued contract costs 897 825 Warranty reserve 110 132 Asset purchase holdback liability - 736 Acquisition holdback liability 235 - Acquisition contingent consideration liability 936 - Other 123 67 Total $ 8,618 $ 7,466 |
Other Noncurrent Liabilities [Table Text Block] | December 31, September 30, 2023 2023 Deferred revenue $ 509 $ 551 |
Schedule of Product Warranty Liability [Table Text Block] | December 31, September 30, 2023 2023 Beginning balance $ 132 $ 159 Warranty provision (22 ) 40 Warranty settlements - (67 ) Ending balance $ 110 $ 132 |
Note 12 - Leases (Tables)
Note 12 - Leases (Tables) | 3 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Initial Measurement of Operating Lease [Table Text Block] | Operating lease ROU assets Operating lease ROU assets as of September 30, 2023 $ 3,886 Additional operating lease ROU assets - Less amortization of operating lease ROU assets (192 ) Effect of exchange rate on operating lease ROU assets 18 Operating lease ROU assets as of December 31, 2023 $ 3,712 Operating lease liabilities Operating lease liabilities as of September 30, 2022 $ 5,291 Additional operating lease liabilities - Less lease principal payments on operating lease liabilities (248 ) Effect of exchange rate on operating lease liabilities 18 Operating lease liabilities as of December 31, 2023 5,061 Less non-current portion (4,030 ) Current portion as of December 31, 2023 $ 1,031 |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | Fiscal year ending September 30, 2024 (remaining nine months) $ 909 2025 1,186 2026 1,200 2027 1,221 2028 1,047 Thereafter - Total undiscounted operating lease payments 5,563 Less imputed interest (502 ) Present value of operating lease liabilities $ 5,061 |
Note 15 - Share-based Compens_2
Note 15 - Share-based Compensation (Tables) | 3 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Three months ended December 31, 2023 2022 Volatility 57.8 % 52.1 % Risk-free interest rate 4.3 % 4.1 % Dividend yield 0.0 % 0.0 % Expected term in years 4.2 6.1 |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Number of Shares Weighted Average Grant Date Fair Value Outstanding September 30, 2023 379,597 $ 3.94 Granted 10,000 $ 1.73 Released (10,000 ) $ 2.87 Forfeited/cancelled - $ - Outstanding December 31, 2023 379,597 $ 3.91 |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Number of Shares Weighted Average Exercise Price Outstanding September 30, 2023 2,904,522 $ 3.19 Granted 887,250 $ 1.70 Forfeited/expired (25,000 ) $ 1.70 Exercised - $ - Outstanding December 31, 2023 3,766,772 $ 2.85 Exerciseable December 31, 2023 992,981 $ 3.48 |
Share-Based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | Weighted Average Weighted Average Weighted Average Range of Number Remaining Exercise Number Exercise Exercise Prices Outstanding Contractual Term Price Exercisable Price $1.51 - $1.76 991,407 6.29 $ 1.71 104,157 $ 1.75 $2.64 - $2.68 88,000 6.60 $ 2.67 - $ - $2.69 - $2.69 1,100,000 5.77 $ 2.69 125,000 $ 2.69 $3.09 - $8.03 1,587,365 4.75 $ 3.69 763,824 $ 3.84 3,766,772 5.49 $ 2.85 992,981 $ 3.48 |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended December 31, 2023 2022 Cost of revenues $ 39 $ 28 Selling, general and administrative 380 373 Research and development 27 19 $ 446 $ 420 |
Note 16 - Stockholders' Equity
Note 16 - Stockholders' Equity (Tables) | 3 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Stockholders Equity [Table Text Block] | Common Stock Additional Accumulated Other Total Par Value Paid-in Accumulated Comprehensive Stockholders' Shares Amount Capital Deficit Loss Equity Balance as of September 30, 2023 37,211,071 $ 372 $ 110,379 $ (76,062 ) $ (505 ) $ 33,812 Share-based compensation expense - - 446 - - 446 Issuance of common stock upon offering, net of issuance costs 5,750,000 57 10,449 - - 10,449 Issuance of common stock upon vesting of restricted stock units 10,000 - - - - - Issuance of common stock in business combination 986,486 10 1,924 - - 1,924 Obligation to issue common stock - - 527 - - 527 Release of obligation to issue common stock 69,564 1 - - - - Accumulated other comprehensive loss - - - - 119 119 Net loss - - - (6,724 ) - (6,724 ) Balance as of December 31, 2023 44,027,121 $ 440 $ 123,725 $ (82,786 ) $ (386 ) $ 40,553 Accumulated Common Stock Additional Other Total Par Value Paid-in Accumulated Comprehensive Stockholders' Shares Amount Capital Deficit Loss 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 common stock 69,564 1 - - - Accumulated other comprehensive loss - - - - 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 |
Note 17 - Net Loss Per Share (T
Note 17 - Net Loss Per Share (Tables) | 3 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended December 31, 2023 2022 Net loss $ (6,724 ) $ (3,507 ) Basic and diluted loss per share $ (0.15 ) $ (0.10 ) Weighted average shares outstanding - basic 43,729,240 36,696,145 Assumed exercise of dilutive options - - Weighted average shares outstanding - diluted 43,729,240 36,696,145 Potentially dilutive securities outstanding at period end excluded from diluted computation as the inclusion would have been antidilutive: Options 3,766,772 4,814,537 RSU 379,597 340,174 Obligation to issue common stock - 69,564 Total 4,146,369 5,224,275 |
Note 18 - Segment Information (
Note 18 - Segment Information (Tables) | 3 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three months ended December 31, 2023 2022 Revenue from external customers Hardware $ 2,946 $ 9,584 Software 1,415 903 $ 4,361 $ 10,487 Intersegment revenues Hardware $ - $ - Software 1,488 1,222 $ 1,488 $ 1,222 Segment operating loss Hardware $ (3,115 ) $ (28 ) Software (4,115 ) (3,459 ) $ (7,230 ) $ (3,487 ) Other expenses: Depreciation and amortization expense Hardware $ 96 $ 99 Software 633 544 $ 729 $ 643 Income tax benefit Hardware $ - $ - Software (429 ) - $ (429 ) $ - December 31, September 30, 2023 2023 Long-lived assets Hardware $ 1,467 $ 1,427 Software 10,486 8,551 $ 11,953 $ 9,978 Total assets Hardware $ 31,341 $ 28,878 Software 25,297 21,027 $ 56,638 $ 49,905 |
Note 19 - Major Customers, Su_2
Note 19 - Major Customers, Suppliers and Related Information (Tables) | 3 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | Three months ended December 31, 2023 2022 Americas $ 3,667 $ 9,163 Asia Pacific 319 759 Europe, Middle East and Africa 375 565 Total Revenues $ 4,361 $ 10,487 |
Long-Lived Assets by Geographic Areas [Table Text Block] | December 31, September 30, 2023 2023 United States $ 11,637 $ 9,624 Americas (excluding the United States) 6 7 Europe, Middle East and Africa 310 347 Total long lived assets $ 11,953 $ 9,978 |
Note 2 - Basis of Presentatio_2
Note 2 - Basis of Presentation and Significant Accounting Policies (Details Textual) $ in Thousands | Dec. 31, 2023 USD ($) | Sep. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) |
Number of Wholly Owned Subsidiaries | 9 | ||
Number of Additional Inactive Subsidiaries | 2 | ||
Cash and Cash Equivalents, at Carrying Value, Total | $ 4,780 | $ 8,665 | $ 7,563 |
Restricted Cash | 346 | 854 | |
Accounts Receivable, Allowance for Credit Loss | $ 65 | $ 65 |
Note 4 - Business Combination_2
Note 4 - Business Combinations (Details Textual) - USD ($) | 3 Months Ended | ||
Oct. 04, 2023 | Dec. 31, 2023 | Sep. 30, 2023 | |
Share Price | $ 2.03 | ||
Stock Issued During Period, Value, Acquisitions | $ 1,924,000 | ||
Additional Paid-in Capital [Member] | |||
Stock Issued During Period, Value, Acquisitions | 1,924,000 | ||
Evertel Technologies, LLC [Member] | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 986,486 | ||
Share Price | $ 1.95 | ||
Business Combination, Acquisition Related Costs | $ 39,000 | ||
Finite-Lived Intangible Asset, Useful Life | 6 years 9 months 18 days | ||
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual | 209,000 | ||
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual | $ 195,000 | ||
Evertel Technologies, LLC [Member] | Additional Paid-in Capital [Member] | |||
Stock Issued During Period, Value, Acquisitions | $ 1,924 |
Note 4 - Business Combination_3
Note 4 - Business Combinations - Consideration (Details) - Evertel Technologies, LLC [Member] - USD ($) $ in Thousands | 3 Months Ended | ||
Oct. 04, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | |
Cash paid | $ 923 | ||
Common stock issued | 1,924 | ||
Contingent consideration | 890 | $ 890 | $ 0 |
Acquisition holdback liability | 230 | 230 | 0 |
Common stock to be issued | 527 | $ 527 | $ 0 |
Business Combination, Consideration Transferred and to be Transferred | $ 4,494 |
Note 4 - Business Combination_4
Note 4 - Business Combinations - Assets Acquired and Liabilities assumed (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Oct. 04, 2023 | Sep. 30, 2023 |
Assets acquired | |||
Goodwill | $ 13,151 | $ 10,282 | |
Evertel Technologies, LLC [Member] | |||
Assets acquired | |||
Accounts receivable | $ 142 | ||
Prepaid expenses | 27 | ||
Intangible assets | 2,550 | ||
Goodwill | 2,772 | ||
Total Assets | 5,491 | ||
Liabilities assumed | |||
Accrued commissions | 10 | ||
Deferred revenue | 470 | ||
Deferred tax liability | 517 | ||
Total liabilities | 997 | ||
Net assets acquired | $ 4,494 |
Note 4 - Business Combination_5
Note 4 - Business Combinations - Identifiable Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Oct. 04, 2023 | Dec. 31, 2023 | |
Fair value, intangibles | $ 2,550 | |
Evertel Technologies, LLC [Member] | ||
Fair value, intangibles | $ 2,550 | |
Evertel Technologies, LLC [Member] | Developed Technology Rights [Member] | ||
Fair value, intangibles | $ 2,290 | |
Estimated useful life, intangibles (Year) | 7 years | |
Evertel Technologies, LLC [Member] | Customer Relationships [Member] | ||
Fair value, intangibles | $ 260 | |
Estimated useful life, intangibles (Year) | 5 years |
Note 5 - Revenue Recognition 1
Note 5 - Revenue Recognition 1 (Details Textual) - USD ($) $ in Thousands | Dec. 31, 2023 | Sep. 30, 2023 |
Contract with Customer, Asset, after Allowance for Credit Loss, Total | $ 0 | $ 0 |
Revenue, Remaining Performance Obligation, Amount | $ 4,722 |
Note 5 - Revenue Recognition 2
Note 5 - Revenue Recognition 2 (Details Textual) $ in Thousands | Dec. 31, 2023 USD ($) |
Revenue, Remaining Performance Obligation, Amount | $ 4,722 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | |
Revenue, Remaining Performance Obligation, Amount | $ 4,213 |
Revenue, Remaining Performance Obligation, Percentage | 89% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 12 months |
Note 5 - Revenue Recognition -
Note 5 - Revenue Recognition - Contract Asset and Contract Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2023 | Sep. 30, 2023 | |
Balance as of September 30, 2022 | $ 4,020 | |
New performance obligations | 2,402 | |
Recognition of revenue as a result of satisfying performance obligations | (1,705) | |
Effect of exchange rate on deferred revenue | 5 | |
Balance as of March 31, 2023 | 4,722 | |
Less: non-current portion | (509) | $ (551) |
Current portion as of March 31, 2023 | 4,213 | |
Customer Deposits [Member] | ||
Balance as of September 30, 2022 | 766 | |
New performance obligations | 819 | |
Recognition of revenue as a result of satisfying performance obligations | (363) | |
Effect of exchange rate on deferred revenue | 0 | |
Balance as of March 31, 2023 | 1,222 | |
Less: non-current portion | 0 | |
Current portion as of March 31, 2023 | 1,222 | |
Deferred Revenue [Member] | ||
Balance as of September 30, 2022 | 3,254 | |
New performance obligations | 1,583 | |
Recognition of revenue as a result of satisfying performance obligations | (1,342) | |
Effect of exchange rate on deferred revenue | 5 | |
Balance as of March 31, 2023 | 3,500 | |
Less: non-current portion | (509) | |
Current portion as of March 31, 2023 | $ 2,991 |
Note 6 - Fair Value Measureme_3
Note 6 - Fair Value Measurements (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||
Sep. 30, 2023 | Dec. 31, 2023 | Oct. 04, 2023 | |
Marketable Securities, Total | $ 0 | $ 0 | |
Goodwill and Intangible Asset Impairment | $ 0 | ||
Evertel Technologies, LLC [Member] | |||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 1,050 | ||
Business Combination, Contingent Consideration, Liability | $ 926 | $ 890 |
Note 6 - Fair Value Measureme_4
Note 6 - Fair Value Measurements - Fair Value by Major Security Type (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Sep. 30, 2023 |
Cash Equivalents | $ 1,060 | |
Short-term marketable securities | 8,777 | $ 1,481 |
Fair Value, Nonrecurring [Member] | ||
Cost Basis | 9,837 | 3,798 |
Gross Unrealized Gain | 5 | 0 |
Gross Unrealized Loss | (5) | (10) |
Fair Value | 9,837 | 3,788 |
Cash Equivalents | 1,060 | 2,307 |
Short-term marketable securities | 8,777 | 1,481 |
Long-term Securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member] | ||
Cost Basis | 1,060 | 2,307 |
Gross Unrealized Gain | 0 | 0 |
Gross Unrealized Loss | 0 | 0 |
Fair Value | 1,060 | 2,307 |
Cash Equivalents | 2,307 | |
Short-term marketable securities | 0 | |
Long-term Securities | 0 | |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | ||
Cost Basis | 8,777 | 1,491 |
Gross Unrealized Gain | 5 | 0 |
Gross Unrealized Loss | (5) | (10) |
Fair Value | 8,777 | 1,481 |
Cash Equivalents | 0 | 0 |
Short-term marketable securities | 8,777 | 1,481 |
Long-term Securities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | Certificates of Deposit [Member] | ||
Cost Basis | 302 | 301 |
Gross Unrealized Gain | 0 | 0 |
Gross Unrealized Loss | 0 | 0 |
Fair Value | 302 | 301 |
Cash Equivalents | 0 | 0 |
Short-term marketable securities | 302 | 301 |
Long-term Securities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
Cost Basis | 3,707 | 926 |
Gross Unrealized Gain | 4 | 0 |
Gross Unrealized Loss | (3) | (7) |
Fair Value | 3,708 | 919 |
Cash Equivalents | 0 | 0 |
Short-term marketable securities | 3,708 | 919 |
Long-term Securities | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | Corporate Debt Securities [Member] | ||
Cost Basis | 3,607 | 264 |
Gross Unrealized Gain | 1 | 0 |
Gross Unrealized Loss | (2) | (3) |
Fair Value | 3,606 | 261 |
Cash Equivalents | 0 | 0 |
Short-term marketable securities | 3,606 | 261 |
Long-term Securities | 0 | $ 0 |
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member] | US Treasury and Government [Member] | ||
Cost Basis | 1,161 | |
Gross Unrealized Gain | 0 | |
Gross Unrealized Loss | 0 | |
Fair Value | 1,161 | |
Cash Equivalents | 0 | |
Short-term marketable securities | 1,161 | |
Long-term Securities | $ 0 |
Note 6 - Fair Value Measureme_5
Note 6 - Fair Value Measurements - Unrealized Loss on Investments (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Sep. 30, 2023 |
Unrealized loss position, less than 12 months, fair value | $ 3,510 | $ 684 |
Unrealized loss position, less than 12 months, gross unrealized loss | (3) | (2) |
Unrealized loss position, more than 12 months, fair value | 132 | 496 |
Unrealized loss position, more than 12 months, gross unrealized loss | (2) | (8) |
Unrealized loss position, fair value | 3,642 | 10 |
Unrealized loss position, gross unrealized loss | (5) | (1,180) |
Short-term Securities | 5 | 1,180 |
Long-term Securities | (3,642) | (10) |
Certificates of Deposit [Member] | ||
Unrealized loss position, less than 12 months, fair value | 0 | 0 |
Unrealized loss position, less than 12 months, gross unrealized loss | 0 | 0 |
Unrealized loss position, more than 12 months, fair value | 0 | 0 |
Unrealized loss position, more than 12 months, gross unrealized loss | 0 | 0 |
Unrealized loss position, fair value | 0 | 0 |
Unrealized loss position, gross unrealized loss | 0 | 0 |
Short-term Securities | 0 | 0 |
Long-term Securities | 0 | 0 |
US Treasury and Government [Member] | ||
Unrealized loss position, less than 12 months, fair value | 0 | 0 |
Unrealized loss position, less than 12 months, gross unrealized loss | 0 | 0 |
Unrealized loss position, more than 12 months, fair value | 0 | 0 |
Unrealized loss position, more than 12 months, gross unrealized loss | 0 | 0 |
Unrealized loss position, fair value | 0 | 0 |
Unrealized loss position, gross unrealized loss | 0 | 0 |
Short-term Securities | 0 | 0 |
Long-term Securities | 0 | 0 |
US States and Political Subdivisions Debt Securities [Member] | ||
Unrealized loss position, less than 12 months, fair value | 628 | 684 |
Unrealized loss position, less than 12 months, gross unrealized loss | (1) | (2) |
Unrealized loss position, more than 12 months, fair value | 132 | 235 |
Unrealized loss position, more than 12 months, gross unrealized loss | (2) | (5) |
Unrealized loss position, fair value | 760 | 919 |
Unrealized loss position, gross unrealized loss | (3) | (7) |
Short-term Securities | 3 | 7 |
Long-term Securities | (760) | (919) |
Corporate Debt Securities [Member] | ||
Unrealized loss position, less than 12 months, fair value | 2,882 | 0 |
Unrealized loss position, less than 12 months, gross unrealized loss | (2) | 0 |
Unrealized loss position, more than 12 months, fair value | 0 | 261 |
Unrealized loss position, more than 12 months, gross unrealized loss | 0 | (3) |
Unrealized loss position, fair value | 2,882 | 261 |
Unrealized loss position, gross unrealized loss | (2) | (3) |
Short-term Securities | 2 | 3 |
Long-term Securities | $ (2,882) | $ (261) |
Note 6 - Fair Value Measureme_6
Note 6 - Fair Value Measurements - Fair Value Measurement of Acquired Intangible Assets (Details) - Evertel Technologies, LLC [Member] $ in Thousands | 3 Months Ended |
Dec. 31, 2023 USD ($) | |
Intangible assets from Evertel acquisition | $ 2,550 |
Intangible assets, gain (loss) | 0 |
Goodwill from Evertel acquisition | 2,772 |
Gain (loss) in goodwill | 0 |
Fair Value, Inputs, Level 1 [Member] | |
Intangible assets from Evertel acquisition | 0 |
Goodwill from Evertel acquisition | 0 |
Fair Value, Inputs, Level 2 [Member] | |
Intangible assets from Evertel acquisition | 0 |
Goodwill from Evertel acquisition | 0 |
Fair Value, Inputs, Level 3 [Member] | |
Intangible assets from Evertel acquisition | 2,550 |
Goodwill from Evertel acquisition | $ 2,772 |
Note 6 - Fair Value Measureme_7
Note 6 - Fair Value Measurements - Holdback Liability Measured at Fair Value on a Non-recurring Basis (Details) - Fair Value, Nonrecurring [Member] - Evertel Technologies, LLC [Member] $ in Thousands | 3 Months Ended |
Dec. 31, 2023 USD ($) | |
Contingent Consideration Liability [Member] | |
Balance | $ 890 |
Accretion | 46 |
Balance | 936 |
Holdback Liability [Member] | |
Balance | 230 |
Accretion | 5 |
Balance | $ 235 |
Note 7 - Inventories, Net - Sch
Note 7 - Inventories, Net - Schedule of Inventory (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Sep. 30, 2023 |
Raw materials | $ 4,268 | $ 5,086 |
Finished goods | 1,865 | 1,029 |
Work in process | 1,625 | 1,218 |
Inventories, gross | 7,758 | 7,333 |
Reserve for obsolescence | (868) | (832) |
Inventories, net | $ 6,890 | $ 6,501 |
Note 8 - Property and Equipme_3
Note 8 - Property and Equipment, Net (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Depreciation | $ 110 | $ 111 |
Note 8 - Property and Equipme_4
Note 8 - Property and Equipment, Net - Property and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Sep. 30, 2023 |
Property and equipment, gross | $ 5,372 | $ 5,325 |
Accumulated depreciation | (3,785) | (3,774) |
Property and equipment, net | 1,587 | 1,551 |
Furniture and Fixtures [Member] | ||
Property and equipment, gross | 1,526 | 1,582 |
Machinery and Equipment [Member] | ||
Property and equipment, gross | 1,480 | 1,441 |
Leasehold Improvements [Member] | ||
Property and equipment, gross | 2,313 | 2,302 |
Construction in Progress [Member] | ||
Property and equipment, gross | $ 53 | $ 0 |
Note 9 - Goodwill and Intangi_3
Note 9 - Goodwill and Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2023 | |
Goodwill, Gross | $ 13,151 | $ 10,282 | |
Goodwill, Acquired During Period | 2,772 | 0 | |
Goodwill, Impairment Loss | $ 0 | ||
Amortization of Intangible Assets | 619 | $ 532 | |
Genasys Spain [Member] | |||
Goodwill and Intangible Assets, Foreign Currency Translation Gain (Loss) | 105 | ||
Evertel Technologies, LLC [Member] | |||
Goodwill, Acquired During Period | $ 2,772 |
Note 9 - Goodwill and Intangi_4
Note 9 - Goodwill and Intangible Assets - Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2023 | |
Balance | $ 10,282 | ||
Balance | 8,427 | ||
Acquisitions | 2,772 | $ 0 | |
Acquisitions | 2,550 | ||
Currency translation | 97 | ||
Amortization | (619) | $ (532) | |
Balance | 13,151 | 10,282 | |
Currency translation | 8 | ||
Balance | 10,366 | 8,427 | |
Hardware [Member] | |||
Balance | 0 | ||
Balance | 17 | ||
Acquisitions | 0 | ||
Acquisitions | 0 | ||
Currency translation | 0 | ||
Amortization | (1) | ||
Balance | 0 | 0 | |
Currency translation | 0 | ||
Balance | 16 | 17 | |
Software [Member] | |||
Balance | 10,282 | ||
Balance | 8,410 | ||
Acquisitions | 2,772 | ||
Acquisitions | 2,550 | ||
Currency translation | 97 | ||
Amortization | (618) | ||
Balance | 13,151 | 10,282 | |
Currency translation | 8 | ||
Balance | $ 10,350 | $ 8,410 |
Note 9 - Goodwill and Intangi_5
Note 9 - Goodwill and Intangible Assets - Summary of Intangible Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Sep. 30, 2023 |
Intangible assets, gross carrying amount | $ 17,239 | $ 14,620 |
Accumulated amortization | (6,873) | (6,193) |
Finite-Lived Intangible Assets, Net | 10,366 | 8,427 |
Developed Technology Rights [Member] | ||
Intangible assets, gross carrying amount | 14,246 | 11,930 |
Customer Relationships [Member] | ||
Intangible assets, gross carrying amount | 2,075 | 1,790 |
Trade Names [Member] | ||
Intangible assets, gross carrying amount | 614 | 605 |
Noncompete Agreements [Member] | ||
Intangible assets, gross carrying amount | 223 | |
Patents [Member] | ||
Intangible assets, gross carrying amount | $ 72 | $ 72 |
Note 9 - Goodwill and Intangi_6
Note 9 - Goodwill and Intangible Assets - Estimated Future Amortization Expense (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Sep. 30, 2023 |
2024 | $ 1,861 | |
2025 | 2,358 | |
2026 | 2,222 | |
2027 | 2,048 | |
2028 | 1,220 | |
Thereafter | 657 | |
Finite-Lived Intangible Assets, Net | $ 10,366 | $ 8,427 |
Note 10 - Prepaid Expenses an_3
Note 10 - Prepaid Expenses and Other (Details Textual) | Dec. 31, 2023 |
Minimum [Member] | |
Capitalized Contract Cost, Amortization Period | 3 years |
Maximum [Member] | |
Capitalized Contract Cost, Amortization Period | 5 years |
Note 10 - Prepaid Expenses an_4
Note 10 - Prepaid Expenses and Other - Summary of Prepaid Expenses and Others (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Sep. 30, 2023 |
Deposits for inventory | $ 48 | $ 301 |
Prepaid insurance | 261 | 264 |
Dues and subscriptions | 363 | 261 |
Prepaid professional services | 438 | 136 |
Prepaid commissions | 441 | 417 |
Trade shows and travel | 93 | 150 |
Canadian goods and services and harmonized sales tax receivable | 114 | 123 |
Other | 342 | 199 |
Prepaid Expense and Other Assets, Current | $ 2,100 | $ 1,851 |
Note 11 - Accrued and Other L_3
Note 11 - Accrued and Other Liabilities (Details Textual) | 3 Months Ended |
Dec. 31, 2023 | |
Minimum [Member] | |
Extended Product Warranty Term | 1 year |
Maximum [Member] | |
Extended Product Warranty Term | 2 years |
Note 11 - Accrued and Other L_4
Note 11 - Accrued and Other Liabilities - Summary of Accrued Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Sep. 30, 2023 |
Payroll and related | $ 2,104 | $ 2,237 |
Deferred revenue | 4,213 | |
Accrued contract costs | 897 | 825 |
Warranty reserve | 110 | 132 |
Other | 123 | 67 |
Total | 8,618 | 7,466 |
Asset Purchase Holdback Liability [Member] | ||
Acquisition liability | 0 | 736 |
Acquisition Holdback Liability [Member] | ||
Acquisition liability | 235 | 0 |
Acquisition contingent consideration liability [Member] | ||
Acquisition liability | 936 | 0 |
Service [Member] | ||
Deferred revenue | 2,991 | 2,703 |
Hardware [Member] | ||
Deferred revenue | $ 1,222 | $ 766 |
Note 11 - Accrued and Other L_5
Note 11 - Accrued and Other Liabilities - Other Noncurrent Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Sep. 30, 2023 |
Deferred revenue | $ 509 | $ 551 |
Note 11 - Accrued and Other L_6
Note 11 - Accrued and Other Liabilities - Changes in Warranty Reserve (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Dec. 31, 2023 | Sep. 30, 2022 | |
Beginning balance | $ 132 | $ 159 |
Warranty provision | (22) | 40 |
Warranty settlements | 0 | (67) |
Ending balance | $ 110 | $ 132 |
Note 12 - Leases (Details Textu
Note 12 - Leases (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Operating Lease, Expense | $ 245 | $ 264 |
Short-Term Lease, Cost | $ 5 | $ 0 |
Note 12 - Leases - Initial Meas
Note 12 - Leases - Initial Measurement of Operating Lease (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2023 | |
Operating lease ROU assets as of September 30, 2022 | $ 3,886 | ||
Operating lease liabilities as of September 30, 2022 | 5,291 | ||
Additional operating lease ROU assets | 0 | ||
Less amortization of operating lease ROU assets | (192) | $ (199) | |
Less lease principal payments on operating lease liabilities | (248) | ||
Effect of exchange rate on operating lease ROU assets | 18 | ||
Effect of exchange rate on operating lease liabilities | 18 | ||
Operating lease ROU assets as of March 31, 2023 | 3,712 | ||
Operating lease liabilities as of March 31, 2023 | 5,061 | ||
Less non-current portion | (4,030) | $ (4,283) | |
Operating lease liabilities, current portion | $ 1,031 | $ 1,008 |
Note 12 - Leases - Maturities o
Note 12 - Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Sep. 30, 2023 |
2024 (remaining nine months) | $ 909 | |
2025 | 1,186 | |
2026 | 1,200 | |
2027 | 1,221 | |
2028 | 1,047 | |
Thereafter | 0 | |
Total undiscounted operating lease payments | 5,563 | |
Less imputed interest | (502) | |
Present value of operating lease liabilities | $ 5,061 | $ 5,291 |
Note 13 - Income Taxes (Details
Note 13 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Effective Income Tax Rate Reconciliation, Percent | 6% | 0% |
Income Tax Expense (Benefit) | $ (429) | $ 0 |
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | 517 | |
Unrecognized Tax Benefits | $ 0 | $ 0 |
Note 14 - Commitments and Con_2
Note 14 - Commitments and Contingencies (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||
Oct. 04, 2023 | Oct. 02, 2020 | Dec. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Increase (Decrease) in Other Employee-Related Liabilities | $ 40 | $ 548 | |||||
Share Price | $ 2.03 | ||||||
Increase in Additional Paid-in Capital, Obligation to Issue Common Stock | $ 527 | ||||||
Additional Paid-in Capital [Member] | |||||||
Increase in Additional Paid-in Capital, Obligation to Issue Common Stock | $ 527 | ||||||
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 (in shares) | 573,801 | 69,564 | 69,564 | ||||
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 | 69,564 | 365,109 | |||
Evertel Technologies, LLC [Member] | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 986,486 | ||||||
Share Price | $ 1.95 | ||||||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | $ 1,050 | ||||||
Business Combination, Contingent Consideration, Liability | $ 890 | $ 926 | |||||
Evertel Technologies, LLC [Member] | Acquisition Holdback Liability [Member] | |||||||
Business Combination, Contingent Consideration, Liability | $ 235 | ||||||
Evertel Technologies, LLC [Member] | Agreement to Issue Stock [Member] | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 270,270 | ||||||
Share Price | $ 1.95 | ||||||
Evertel Technologies, LLC [Member] | Agreement to Issue Stock [Member] | Additional Paid-in Capital [Member] | |||||||
Increase in Additional Paid-in Capital, Obligation to Issue Common Stock | $ 527 |
Note 15 - Share-based Compens_3
Note 15 - Share-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | ||||||||||||
Nov. 01, 2023 | Mar. 20, 2023 | Mar. 14, 2023 | Feb. 14, 2023 | Nov. 01, 2022 | Oct. 08, 2022 | Aug. 10, 2022 | Nov. 01, 2021 | Dec. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2021 | Mar. 16, 2021 | Dec. 08, 2020 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant | 6,449,196 | |||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross | 887,250 | |||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period | 7 years | |||||||||||||
Dividends | $ 0 | $ 0 | ||||||||||||
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 2,154 | |||||||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 2 years 4 months 24 days | |||||||||||||
Share-Based Payment Arrangement, Expense | $ 446 | $ 420 | ||||||||||||
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 6 months | |||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercisable, Intrinsic Value | $ 322 | |||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Intrinsic Value | $ 29 | |||||||||||||
Share Price | $ 2.03 | |||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 0 | 23 | ||||||||||||
Gross Proceeds from Stock Options Exercised | $ 0 | 32 | ||||||||||||
Vesting Based on Market Conditions [Member] | ||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross | 1,204,000 | |||||||||||||
Common Stock Award [Member] | ||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant | 2,302,827 | |||||||||||||
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 Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted | 0 | |||||||||||||
Share-Based Payment Arrangement, Expense | $ 62 | |||||||||||||
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 1 month 6 days | |||||||||||||
Share-Based Payment Arrangement, Expense | $ 228 | 198 | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period | 10,000 | |||||||||||||
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 666 | |||||||||||||
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, Expiration Period | 7 years | |||||||||||||
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 | $ 17 | |||||||||||||
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 | 10,000 | 145,950 | ||||||||||||
Shares Granted, Value, Share-Based Payment Arrangement, before Forfeiture | $ 51 | $ 989 | ||||||||||||
Restricted Stock Units (RSUs) [Member] | Employees [Member] | ||||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period | 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 | $ 29 | |||||||||||||
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 | |||||||||||||
Share-Based Payment Arrangement, Option [Member] | Employees, Directors, and Consultants [Member] | ||||||||||||||
Share-Based Payment Arrangement, Expense | $ 218 | $ 222 | ||||||||||||
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 | 4,146,369 |
Note 15 - Share-based Compens_4
Note 15 - Share-based Compensation - Weighted-average Assumptions (Details) | 3 Months Ended | 9 Months Ended |
Dec. 31, 2023 Rate | Jun. 30, 2022 Rate | |
Volatility (Rate) | 57.80% | 52.10% |
Risk-free interest rate (Rate) | 4.30% | 4.10% |
Dividend yield (Rate) | 0% | 0% |
Expected term in years (Year) | 4 years 2 months 12 days | 6 years 1 month 6 days |
Note 15 - Share-based Compens_5
Note 15 - Share-based Compensation - Restricted Stock Activity (Details) | 3 Months Ended |
Dec. 31, 2023 $ / shares shares | |
Forfeited/cancelled, weighted average grant date fair value (in dollars per share) | $ 1.7 |
Restricted Stock Units (RSUs) [Member] | |
Outstanding, number of shares (in shares) | shares | 379,597 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ 3.94 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period | shares | 10,000 |
Granted, weighted average grant date fair value (in dollars per share) | $ 1.73 |
Released, number of shares (in shares) | shares | (10,000) |
Released, weighted average grant date fair value (in dollars per share) | $ 2.87 |
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 | 379,597 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ 3.91 |
Note 15 - Share-based Compens_6
Note 15 - Share-based Compensation - Stock Option Activity (Details) | 3 Months Ended |
Dec. 31, 2023 $ / shares shares | |
Outstanding (in shares) | shares | 2,904,522 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 3.19 |
Granted (in shares) | shares | 887,250 |
Granted, weighted average exercise price (in dollars per share) | $ / shares | $ 1.7 |
Forfeited/expired (in shares) | shares | (25,000) |
Forfeited/cancelled, weighted average grant date fair value (in dollars per share) | $ / shares | $ 1.7 |
Exercised (in shares) | shares | 0 |
Exercised, weighted average exercise price (in dollars per share) | $ / shares | $ 0 |
Outstanding (in shares) | shares | 3,766,772 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 2.85 |
Exerciseable (in shares) | shares | 992,981 |
Exerciseable, weighted average exercise price (in dollars per share) | $ / shares | $ 3.48 |
Note 15 - Share-based Compens_7
Note 15 - Share-based Compensation - Stock Options Outstanding (Details) | 3 Months Ended |
Dec. 31, 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 | 3,766,772 |
Weighted Average Remaining Contractual Life (Year) | 5 years 5 months 26 days |
Weighted average exercise price, outstanding balance (in dollars per share) | $ 2.85 |
Number Exercisable (in shares) | shares | 992,981 |
Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 3.48 |
Range One [Member] | |
Lower Exercise Price (in dollars per share) | 1.51 |
Upper Exercise Price (in dollars per share) | $ 1.76 |
Number Outstanding (in shares) | shares | 991,407 |
Weighted Average Remaining Contractual Life (Year) | 6 years 3 months 14 days |
Weighted average exercise price, outstanding balance (in dollars per share) | $ 1.71 |
Number Exercisable (in shares) | shares | 104,157 |
Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 1.75 |
Range Two [Member] | |
Lower Exercise Price (in dollars per share) | 2.64 |
Upper Exercise Price (in dollars per share) | $ 2.68 |
Number Outstanding (in shares) | shares | 88,000 |
Weighted Average Remaining Contractual Life (Year) | 6 years 7 months 6 days |
Weighted average exercise price, outstanding balance (in dollars per share) | $ 2.67 |
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) | 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) | 5 years 9 months 7 days |
Weighted average exercise price, outstanding balance (in dollars per share) | $ 2.69 |
Number Exercisable (in shares) | shares | 125,000 |
Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 2.69 |
Range Four [Member] | |
Lower Exercise Price (in dollars per share) | 3.09 |
Upper Exercise Price (in dollars per share) | $ 8.03 |
Number Outstanding (in shares) | shares | 1,587,365 |
Weighted Average Remaining Contractual Life (Year) | 4 years 9 months |
Weighted average exercise price, outstanding balance (in dollars per share) | $ 3.69 |
Number Exercisable (in shares) | shares | 763,824 |
Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 3.84 |
Note 15 - Share-based Compens_8
Note 15 - Share-based Compensation - Summary of Share-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Share-Based Payment Arrangement, Expense | $ 446 | $ 420 |
Cost of Sales [Member] | ||
Share-Based Payment Arrangement, Expense | 39 | 28 |
Selling, General and Administrative Expenses [Member] | ||
Share-Based Payment Arrangement, Expense | 380 | 373 |
Research and Development Expense [Member] | ||
Share-Based Payment Arrangement, Expense | $ 27 | $ 19 |
Note 16 - Stockholders' Equit_2
Note 16 - Stockholders' Equity (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |||||
Oct. 04, 2023 | Oct. 02, 2020 | Dec. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2021 | |
Issuance of common stock upon exercise of stock options, net (in shares) | 0 | 20,000 | |||||
Issuance of common stock upon vesting of restricted stock units (in shares) | 10,000 | 12,667 | |||||
Gross Proceeds from Stock Options Exercised | $ 0 | $ 32,000 | |||||
Underwritten Public Offering, Common Stock | 5,750,000 | ||||||
Price Per Share, Underwritten Agreement | $ 2 | ||||||
Gross Proceeds From Underwritten Public Offering, Common Stock | $ 11,500,000 | ||||||
Payments of Stock Issuance Costs | $ 1,051,000 | ||||||
Share Price | $ 2.03 | ||||||
Stock Issued During Period, Value, Acquisitions | $ 1,924,000 | ||||||
Increase in Additional Paid-in Capital, Obligation to Issue Common Stock | $ 527,000 | ||||||
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ 0 | $ 0 | |||||
Share Buyback Program [Member] | |||||||
Stock Repurchase Program, Authorized Amount | $ 5,000,000,000 | ||||||
Stock Repurchased and Retired During Period, Shares (in shares) | 0 | 0 | |||||
Additional Paid-in Capital [Member] | |||||||
Stock Issued During Period, Value, Acquisitions | $ 1,924,000 | ||||||
Increase in Additional Paid-in Capital, Obligation to Issue Common Stock | $ 527,000 | ||||||
Evertel Technologies, LLC [Member] | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 986,486 | ||||||
Share Price | $ 1.95 | ||||||
Evertel Technologies, LLC [Member] | Agreement to Issue Stock [Member] | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 270,270 | ||||||
Share Price | $ 1.95 | ||||||
Evertel Technologies, LLC [Member] | Additional Paid-in Capital [Member] | |||||||
Stock Issued During Period, Value, Acquisitions | $ 1,924 | ||||||
Evertel Technologies, LLC [Member] | Additional Paid-in Capital [Member] | Agreement to Issue Stock [Member] | |||||||
Increase in Additional Paid-in Capital, Obligation to Issue Common Stock | $ 527,000 | ||||||
Assets Acquisition of Amika Mobile Corporation [Member] | |||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 573,801 | 69,564 | 69,564 | ||||
Share Price | $ 5.98 | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares, Each Anniversaries | 191,267 | ||||||
Business Acquisition, Share Price | $ 5.98 | ||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 3,431,000 | ||||||
Assets Acquisition of Amika Mobile Corporation [Member] | Former Owner of Amika Mobile [Member] | |||||||
Stock Issued During Period, Shares, Acquisitions | 69,564 | 69,564 | 69,564 | 365,109 |
Note 16 - Stockholders' Equit_3
Note 16 - Stockholders' Equity - Summary of Changes in Stockholders' Equity (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Balance | $ 33,812 | $ 50,393 | |
Share-based compensation expense | $ 446 | 420 | |
Issuance of common stock upon exercise of stock options, net (in shares) | 0 | 20,000 | |
Issuance of common stock upon offering, net of issuance costs | $ 10,449 | ||
Issuance of common stock upon exercise of stock options, net | 32 | ||
Issuance of common stock upon vesting of restricted stock units (in shares) | 10,000 | 12,667 | |
Issuance of common stock upon vesting of restricted stock units | $ 0 | 0 | |
Stock Issued During Period, Value, Acquisitions | 1,924 | ||
Release of obligation to issue common stock | 0 | ||
Accumulated other comprehensive loss | 119 | 266 | |
Increase in Additional Paid-in Capital, Obligation to Issue Common Stock | 527 | ||
Net loss | (6,724) | $ (3,507) | |
Balance | $ 40,553 | $ 47,604 | |
Common Stock [Member] | |||
Balance (in shares) | 37,211,071 | 36,611,240 | |
Balance | $ 372 | $ 366 | |
Share-based compensation expense | $ 0 | ||
Issuance of common stock upon offering, net of issuance costs (in shares) | 5,750,000 | ||
Issuance of common stock upon exercise of stock options, net (in shares) | 20,000 | ||
Issuance of common stock upon offering, net of issuance costs | $ 57 | ||
Issuance of common stock upon exercise of stock options, net | $ 0 | ||
Issuance of common stock upon vesting of restricted stock units (in shares) | 10,000 | 12,667 | |
Issuance of common stock upon vesting of restricted stock units | $ 0 | $ 0 | |
Stock Issued During Period, Shares, Acquisitions | 986,486 | ||
Release of obligation to issue common stock (in shares) | 69,564 | 69,564 | |
Stock Issued During Period, Value, Acquisitions | $ 10 | ||
Release of obligation to issue common stock | 1 | $ 1 | |
Accumulated other comprehensive loss | 0 | 0 | |
Increase in Additional Paid-in Capital, Obligation to Issue Common Stock | 0 | ||
Net loss | $ 0 | $ 0 | |
Balance (in shares) | 44,027,121 | 36,713,471 | |
Balance | $ 440 | $ 367 | |
Additional Paid-in Capital [Member] | |||
Balance | 110,379 | 108,551 | |
Share-based compensation expense | 446 | 420 | |
Issuance of common stock upon offering, net of issuance costs | 10,449 | ||
Issuance of common stock upon exercise of stock options, net | 32 | ||
Issuance of common stock upon vesting of restricted stock units | 0 | 0 | |
Stock Issued During Period, Value, Acquisitions | 1,924 | ||
Release of obligation to issue common stock | 0 | 0 | |
Accumulated other comprehensive loss | 0 | 0 | |
Increase in Additional Paid-in Capital, Obligation to Issue Common Stock | 527 | ||
Net loss | 0 | 0 | |
Balance | 123,725 | 109,003 | |
Retained Earnings [Member] | |||
Balance | (76,062) | (57,366) | |
Share-based compensation expense | 0 | 0 | |
Issuance of common stock upon offering, net of issuance costs | 0 | ||
Issuance of common stock upon exercise of stock options, net | 0 | ||
Issuance of common stock upon vesting of restricted stock units | 0 | 0 | |
Stock Issued During Period, Value, Acquisitions | 0 | ||
Release of obligation to issue common stock | 0 | 0 | |
Accumulated other comprehensive loss | 0 | 0 | |
Increase in Additional Paid-in Capital, Obligation to Issue Common Stock | 0 | ||
Net loss | (6,724) | (3,507) | |
Balance | (82,786) | (60,873) | |
AOCI Attributable to Parent [Member] | |||
Balance | (505) | (792) | |
Share-based compensation expense | 0 | 0 | |
Issuance of common stock upon offering, net of issuance costs | 0 | ||
Issuance of common stock upon exercise of stock options, net | 0 | ||
Issuance of common stock upon vesting of restricted stock units | 0 | 0 | |
Stock Issued During Period, Value, Acquisitions | 0 | ||
Release of obligation to issue common stock | 0 | 0 | |
Accumulated other comprehensive loss | 119 | 266 | |
Increase in Additional Paid-in Capital, Obligation to Issue Common Stock | 0 | ||
Net loss | 0 | (3,507) | |
Balance | $ (386) | $ (526) |
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 | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Net loss | $ (6,724) | $ (3,507) |
Basic and diluted income per share (in dollars per share) | $ (0.15) | $ (0.1) |
Weighted average shares outstanding - basic (in shares) | 43,729,240 | 36,696,145 |
Assumed exercise of dilutive options (in shares) | 0 | 0 |
Weighted average shares outstanding - diluted (in shares) | 43,729,240 | 36,696,145 |
Potentially dilutive securities outstanding at period end excluded from diluted computation as the inclusion would have been antidilutive (in shares) | 4,146,369 | 5,224,275 |
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) | 3,766,772 | 4,814,537 |
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) | 379,597 | 340,174 |
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) | 0 | 69,564 |
Note 18 - Segment Information_2
Note 18 - Segment Information (Details Textual) | 3 Months Ended |
Dec. 31, 2023 | |
Number of Reportable Segments | 2 |
Note 18 - Segment Information -
Note 18 - Segment Information - Segment Disclosures (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2023 | |
Product sales | $ 4,361 | $ 10,487 | |
Long-lived assets | 11,953 | $ 9,978 | |
Assets | 56,638 | 49,905 | |
Loss from operations | (7,230) | (3,487) | |
Depreciation and amortization | 729 | 643 | |
Income Tax Expense (Benefit) | (429) | 0 | |
Intersegment Eliminations [Member] | |||
Product sales | 1,488 | 1,222 | |
Hardware [Member] | |||
Long-lived assets | 1,467 | 1,427 | |
Assets | 31,341 | 28,878 | |
Hardware [Member] | Operating Segments [Member] | |||
Product sales | 2,946 | 9,584 | |
Loss from operations | (3,115) | (28) | |
Depreciation and amortization | 96 | 99 | |
Income Tax Expense (Benefit) | 0 | 0 | |
Hardware [Member] | Intersegment Eliminations [Member] | |||
Product sales | 0 | ||
Software [Member] | |||
Long-lived assets | 10,486 | 8,551 | |
Assets | 25,297 | $ 21,027 | |
Software [Member] | Operating Segments [Member] | |||
Product sales | 1,415 | 903 | |
Loss from operations | (4,115) | (3,459) | |
Depreciation and amortization | 633 | 544 | |
Income Tax Expense (Benefit) | (429) | 0 | |
Software [Member] | Intersegment Eliminations [Member] | |||
Product sales | $ 1,488 | $ 1,222 |
Note 19 - Major Customers, Su_3
Note 19 - Major Customers, Suppliers and Related Information (Details Textual) $ in Thousands | 3 Months Ended | |
Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Product sales | $ 4,361 | $ 10,487 |
UNITED STATES | ||
Product sales | $ 3,624 | $ 8,938 |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||
Number Of Major Customers | 2 | 1 |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer 1 [Member] | ||
Concentration Risk, Percentage | 14% | 60% |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer 2 [Member] | ||
Concentration Risk, Percentage | 13% | |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer 3 [Member] | ||
Concentration Risk, Percentage | 10% | |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | ||
Number Of Major Customers | 3 | 2 |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer 1 [Member] | ||
Concentration Risk, Percentage | 35% | 41% |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Customer 2 [Member] | ||
Concentration Risk, Percentage | 11% | 18% |
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 | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Revenues | $ 4,361 | $ 10,487 |
Americas [Member] | ||
Revenues | 3,667 | 9,163 |
Asia Pacific [Member] | ||
Revenues | 319 | 759 |
EMEA [Member] | ||
Revenues | $ 375 | $ 565 |
Note 19 - Major Customers, Su_5
Note 19 - Major Customers, Suppliers and Related Information - Schedule of Long-lived Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Sep. 30, 2023 |
Long-lived assets | $ 11,953 | $ 9,978 |
UNITED STATES | ||
Long-lived assets | 11,637 | 9,624 |
Non-US [Member] | ||
Long-lived assets | 6 | 7 |
EMEA [Member] | ||
Long-lived assets | $ 310 | $ 347 |