v3.22.2.2
Income Taxes (Tables)
 12 Months Ended
Sep. 30, 2022
Income Tax Disclosure [Abstract]  
Provisions for Income Taxes The provision for income taxes consisted of the following components:
September 30,
20222021
(in thousands)
Federal:
Current$— $— 
Deferred— — 
— — 
State:
Current304 2 
Deferred— — 
304 2 
Foreign:
Current3,481 — 
Deferred— — 
3,481 — 
Total:
Current3,785 2 
Deferred— — 
Income tax provision$3,785 $2 
Summary of Effective Income Tax Rate Reconciliation
The following table presents a reconciliation of the tax expense based on the statutory rate to the Company’s actual tax expense in the consolidated statements of operations:
September 30,
202220212020
At U.S. federal statutory rate-21.0 %-21.0 %-21.0 %
State taxes, net of federal effect-8.6 %-7.0 %-7.0 %
Stock compensation1.7 %-1.3 %-13.3 %
Valuation allowance28.4 %29.3 %43.3 %
Other1.7 %0.0 %-2.0 %
Effective income tax rate2.2 %0.0 %0.0 %
Components of the Net Deferred Tax Assets and Liabilities
The following table presents the significant components of the Company’s net deferred tax assets and liabilities:
September 30,
20222021
(in thousands)
Deferred tax assets:
Accrued Compensation$2,961 $2,371 
Stock Compensation41,479 22,454 
Capitalized Research & Development324 324 
California Alternative Minimum Tax483 179 
Net Operating Losses171,319 185,431 
Intangible Assets2,973 3,562 
Deferred Revenue38,810 — 
Right of Use Assets/Lease Liabilities2,844 1,938 
Capital Loss1,679 — 
Total gross deferred tax assets$262,872 $216,259 
Valuation allowance$(242,394)$(194,255)
Deferred tax liabilities:  
Fixed Assets$(1,088)$(6,360)
State taxes(19,390)(15,644)
Total gross deferred tax liability$(20,478)$(22,004)
Net deferred tax assets (liabilities)$— $— 
Schedule of Gross Unrecognized Tax Benefits The following table summarizes the Company’s gross unrecognized tax benefits:
Year Ended September 30,
202220212020
(in thousands)
Beginning balance of unrecognized tax benefits$— $— $— 
Increase for prior period tax positions3,481 — — 
Ending balance of unrecognized tax benefits$3,481 $— $—