Long-Term Debt (Tables)
|
3 Months Ended |
Dec. 31, 2022 |
|---|
| Debt Disclosure [Abstract] |
|
| Schedule of Long-Term Debt |
Long-term debt consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
December 31, 2022 |
|
|
September 30, 2022 |
|
3.00% Convertible Senior Notes due 2025, net of unamortized discount of $0 and $11,264, respectively, and deferred issuance costs of $2,823 and $2,832, respectively. Effective interest rate 3.70% and 6.29%, respectively. |
|
$ |
172,177 |
|
|
$ |
160,904 |
|
Senior Credit Facilities, net of unamortized discount of $1,564 and $1,310, respectively, and deferred issuance costs of $142 and $158, respectively. Effective interest rate 6.67% and 5.37%, respectively. |
|
|
107,669 |
|
|
|
109,470 |
|
Total debt |
|
$ |
279,846 |
|
|
$ |
270,374 |
|
Less: current portion |
|
|
(12,500 |
) |
|
|
(10,938 |
) |
Total long-term debt |
|
$ |
267,346 |
|
|
$ |
259,436 |
|
|
| Summary of Maturities of Borrowing Obligations |
The following table summarizes the maturities of our borrowing obligations as of December 31, 2022 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal Year |
|
Convertible
Senior Notes |
|
|
Senior Facilities |
|
|
Total |
|
2023 |
|
$ |
— |
|
|
$ |
9,375 |
|
|
$ |
9,375 |
|
2024 |
|
|
— |
|
|
|
12,500 |
|
|
|
12,500 |
|
2025 |
|
|
175,000 |
|
|
|
87,500 |
|
|
|
262,500 |
|
Total before unamortized discount and issuance costs and current portion |
|
$ |
175,000 |
|
|
$ |
109,375 |
|
|
$ |
284,375 |
|
Less: unamortized discount and issuance costs |
|
|
(2,823 |
) |
|
|
(1,706 |
) |
|
|
(4,529 |
) |
Less: current portion of long-term debt |
|
|
— |
|
|
|
(12,500 |
) |
|
|
(12,500 |
) |
Total long-term debt |
|
$ |
172,177 |
|
|
$ |
95,169 |
|
|
$ |
267,346 |
|
|
| Schedule of Interest Expense Related to Notes |
The interest expense recognized related to the Notes for the three months ended December 31, 2022 and 2021 was as follows (dollars in thousands):
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December 31, |
|
|
|
2022 |
|
|
2021 |
|
Contractual interest expense |
|
$ |
1,322 |
|
|
$ |
1,322 |
|
Amortization of debt discount |
|
|
- |
|
|
|
924 |
|
Amortization of issuance costs |
|
|
280 |
|
|
|
232 |
|
Total interest expense related to the Notes |
|
$ |
1,602 |
|
|
$ |
2,478 |
|
|