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Cover Page - shares	9 Months Ended
Cover Page - shares	Jun. 30, 2020	Aug. 03, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity File Number	0-51813
Entity Registrant Name	LIQUIDITY SERVICES, INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	52-2209244
Entity Address, Address Line One	6931 Arlington Road, Suite 200
Entity Address, City or Town	Bethesda
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	20814
City Area Code	202
Local Phone Number	467-6868
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	LQDT
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		34,045,094
Entity Central Index Key	0001235468
Amendment Flag	false
Current Fiscal Year End Date	--09-30
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2019
Current assets:
Cash and cash equivalents	$ 72,729	$ 36,497
Short-term investments	0	30,000
Accounts receivable, net of allowance for doubtful accounts of $357 and $291	5,159	6,704
Inventory, net	7,415	5,843
Prepaid taxes and tax refund receivable	3,081	2,531
Prepaid expenses and other current assets	6,546	8,350
Total current assets	94,930	89,925
Property and equipment, net of accumulated depreciation of $13,678 and $10,566	18,500	18,846
Operating lease assets	9,263
Intangible assets, net	5,086	6,043
Goodwill	59,587	59,467
Deferred tax assets	821	866
Other assets	10,677	12,136
Total assets	198,864	187,283
Current liabilities:
Accounts payable	29,002	15,051
Accrued expenses and other current liabilities	17,757	28,794
Current portion of operating lease liabilities	4,127
Distributions payable	0	1,675
Deferred revenue	3,025	3,049
Payables to sellers	26,325	20,253
Total current liabilities	80,236	68,822
Operating lease liabilities	5,908
Deferred taxes and other long-term liabilities	2,482	2,286
Total liabilities	88,626	71,108
Commitments and contingencies (Note 11)	0	0
Stockholders’ equity:
Common stock, $0.001 par value; 120,000,000 shares authorized; 34,021,773 shares issued and outstanding at June 30, 2020; 33,687,115 shares issued and outstanding at September 30, 2019	34	34
Additional paid-in capital	246,016	242,686
Accumulated other comprehensive loss	(8,019)	(7,973)
Accumulated deficit	(127,793)	(118,572)
Total stockholders’ equity	110,238	116,175
Total liabilities and stockholders’ equity	$ 198,864	$ 187,283

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2019
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 357	$ 291
Property and equipment, accumulated depreciation	$ 13,678	$ 10,566
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	120,000,000	120,000,000
Common stock, shares issued (in shares)	34,021,773	33,687,115
Common stock, shares outstanding (in shares)	34,021,773	33,687,115

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Total revenue	$ 47,722	$ 56,882	$ 150,050	$ 167,735
Costs and expenses from operations:
Cost of goods sold (excludes depreciation and amortization)	22,494	25,337	73,289	75,100
Seller distributions	0	2,994	0	8,393
Technology and operations	9,515	12,145	32,342	38,098
Sales and marketing	7,412	8,771	27,126	26,887
General and administrative	6,217	8,959	21,321	26,217
Depreciation and amortization	1,567	1,206	4,716	3,575
Other operating expenses	319	2,031	500	3,586
Total costs and expenses	47,524	61,443	159,294	181,856
Income (loss) from operations	198	(4,561)	(9,244)	(14,121)
Interest and other income, net	(224)	(454)	(733)	(1,224)
Income (loss) before provision for income taxes	422	(4,107)	(8,511)	(12,897)
Provision for income taxes	209	542	710	1,136
Net income (loss)	$ 213	$ (4,649)	$ (9,221)	$ (14,033)
Basic income (loss) per common share (in dollars per share)	$ 0.01	$ (0.14)	$ (0.27)	$ (0.43)
Diluted income (loss) per common share (in dollars per share)	$ 0.01	$ (0.14)	$ (0.27)	$ (0.43)
Basic weighted average shares outstanding (in shares)	33,695,936	33,164,750	33,621,740	32,986,040
Basic weighted average shares outstanding (in shares)	33,815,332	33,164,750	33,621,740	32,986,040
Revenue
Total revenue	$ 30,442	$ 36,388	$ 95,994	$ 109,478
Fee revenue
Total revenue	$ 17,280	$ 20,494	$ 54,056	$ 58,257

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 213	$ (4,649)	$ (9,221)	$ (14,033)
Other comprehensive income (loss):
Foreign currency translation	424	(255)	(46)	(484)
Other comprehensive income (loss)	424	(255)	(46)	(484)
Comprehensive income (loss)	$ 637	$ (4,904)	$ (9,267)	$ (14,517)

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

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+ Details

Consolidated Statement of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit
Balance (in shares) at Sep. 30, 2018		32,774,118
Balance at Sep. 30, 2018	$ 129,654	$ 33	$ 236,115	$ (6,449)	$ (100,045)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(5,022)				(5,022)
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units (in shares)		409,060
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units	8		8
Balance (in shares) at Dec. 31, 2018		33,183,178
Balance at Dec. 31, 2018	126,499	$ 33	237,679	(6,876)	(104,337)
Balance (in shares) at Sep. 30, 2018		32,774,118
Balance at Sep. 30, 2018	129,654	$ 33	236,115	(6,449)	(100,045)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(14,033)
Foreign currency translation	(484)
Balance (in shares) at Jun. 30, 2019		33,498,078
Balance at Jun. 30, 2019	121,113	$ 33	241,361	(6,933)	(113,348)
Balance (in shares) at Dec. 31, 2018		33,183,178
Balance at Dec. 31, 2018	126,499	$ 33	237,679	(6,876)	(104,337)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(4,362)				(4,362)
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units (in shares)		197,642
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units	116		116
Forfeitures of restricted stock awards	0
Balance (in shares) at Mar. 31, 2019		33,347,657
Balance at Mar. 31, 2019	124,465	$ 33	239,806	(6,678)	(108,696)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(4,649)				(4,649)
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units (in shares)		150,421
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units	5		5
Foreign currency translation	(255)
Balance (in shares) at Jun. 30, 2019		33,498,078
Balance at Jun. 30, 2019	121,113	$ 33	241,361	(6,933)	(113,348)
Balance (in shares) at Sep. 30, 2019		33,687,115
Balance at Sep. 30, 2019	116,175	$ 34	242,686	(7,973)	(118,572)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(5,196)				(5,196)
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units (in shares)		283,164
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units	2		2
Taxes paid associated with net settlement of stock compensation awards (in shares)		(67,688)
Taxes paid associated with net settlement of stock compensation awards	(498)		(498)
Forfeitures of restricted stock awards (in shares)		(15,000)
Forfeitures of restricted stock awards	0
Stock compensation expense	1,121		1,121
Foreign currency translation	833			833
Balance (in shares) at Dec. 31, 2019		33,887,591
Balance at Dec. 31, 2019	112,437	$ 34	243,311	(7,140)	(123,768)
Balance (in shares) at Sep. 30, 2019		33,687,115
Balance at Sep. 30, 2019	116,175	$ 34	242,686	(7,973)	(118,572)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(9,221)
Foreign currency translation	(46)
Balance (in shares) at Jun. 30, 2020		34,021,773
Balance at Jun. 30, 2020	110,238	$ 34	246,016	(8,019)	(127,793)
Balance (in shares) at Dec. 31, 2019		33,887,591
Balance at Dec. 31, 2019	112,437	$ 34	243,311	(7,140)	(123,768)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(4,238)				(4,238)
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units (in shares)		111,272
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units	32		32
Taxes paid associated with net settlement of stock compensation awards (in shares)		(10,065)
Taxes paid associated with net settlement of stock compensation awards	(60)		(60)
Stock compensation expense	1,244		1,244
Foreign currency translation	(1,303)			(1,303)
Balance (in shares) at Mar. 31, 2020		33,988,798
Balance at Mar. 31, 2020	108,112	$ 34	244,527	(8,443)	(128,006)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	213				213
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units (in shares)		34,185
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units	1		1
Taxes paid associated with net settlement of stock compensation awards (in shares)		(1,210)
Taxes paid associated with net settlement of stock compensation awards	(6)		(6)
Stock compensation expense	1,494		1,494
Foreign currency translation	424			424
Balance (in shares) at Jun. 30, 2020		34,021,773
Balance at Jun. 30, 2020	$ 110,238	$ 34	$ 246,016	$ (8,019)	$ (127,793)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Operating activities
Net income (loss)	$ (9,221)	$ (14,033)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	4,716	3,575
Stock compensation expense	3,785	5,138
Provision for doubtful accounts	131	184
Deferred tax provision	228	81
Loss (gain) on disposal of property and equipment	(29)	20
Change in fair value of earnout liability	200	2,300
Changes in operating assets and liabilities:
Accounts receivable	1,415	(1,056)
Inventory	(1,572)	1,231
Prepaid and deferred taxes	(551)	47
Prepaid expenses and other assets	942	244
Operating lease assets and liabilities	(165)
Accounts payable	13,951	(570)
Accrued expenses and other current liabilities	(9,525)	(777)
Distributions payable	(1,675)	(301)
Deferred revenue	(23)	1,043
Payables to sellers	6,072	(4,129)
Other liabilities	522	(222)
Net cash provided by (used in) operating activities	9,201	(7,225)
Investing activities
Increase in intangibles	(53)	(20)
Purchases of property and equipment, including capitalized software	(3,608)	(4,784)
Proceeds from sales of property and equipment	47	112
Proceeds from promissory note	2,553	0
Purchases of short-term investments	(25,000)	(50,000)
Maturities of short-term investments	55,000	40,000
Net cash provided by (used in) investing activities	28,939	(14,692)
Financing activities
Payments of the principal portion of finance lease liabilities	(26)
Taxes paid associated with net settlement of stock compensation awards	(564)	0
Proceeds from exercise of stock options	36	129
Payment of earnout liability related to business acquisition	(1,200)	0
Net cash (used in) provided by financing activities	(1,754)	129
Effect of exchange rate differences on cash and cash equivalents	(154)	(246)
Net increase (decrease) in cash and cash equivalents	36,232	(22,034)
Cash and cash equivalents at beginning of period	36,497	58,448
Cash and cash equivalents at end of period	72,729	36,414
Supplemental disclosure of cash flow information
Cash paid for income taxes, net	$ 203	$ 872

Organization	9 Months Ended
Organization	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Liquidity Services, Inc. (the Company) operates a network of ecommerce marketplaces that enable buyers and sellers to transact in an efficient, automated environment offering over 500 product categories. The Company’s marketplaces provide professional buyers access to a global, organized supply of new, surplus and scrap assets presented with digital images and other relevant product information. Additionally, the Company enables corporate and government sellers to enhance their financial return on offered assets by providing a liquid marketplace and value-added services that encompass the consultative management, valuation and sale of surplus assets. The Company's services include program management, valuation, asset management, reconciliation, refurbishment and recycling, fulfillment, marketing and sales, warehousing and transportation, buyer support, compliance and risk mitigation, as well as self-directed service tools for its sellers. The Company organizes the products on its marketplaces into categories across major industry verticals such as consumer electronics, general merchandise, apparel, scientific equipment, aerospace parts and equipment, technology hardware, energy equipment, industrial capital assets, fleet and transportation equipment and specialty equipment. Currently, the Company’s marketplaces are: www.liquidation.com, www.govdeals.com, www.networkintl.com, www.secondipity.com, and www.go-dove.com. The Company also operates a global search engine for listing used machinery and equipment for sale at www.machinio.com. The Company has four reportable segments: GovDeals, Retail Supply Chain Group (RSCG), Capital Assets Group (CAG), and Machinio. See Note 12 in the Notes to the Consolidated Financial Statements for Segment Information. The Company's operations are subject to certain risks and uncertainties, many of which are associated with technology-oriented companies, including, but not limited to, the Company's dependence on use of the Internet; the effect of general business and economic trends, including the extent and duration of the COVID-19 pandemic; the Company's susceptibility to rapid technological change; actual and potential competition by entities with greater financial and other resources; and the potential for the commercial sellers from which the Company derives a significant portion of its inventory to change the way they conduct their disposition of surplus assets or to otherwise terminate or not renew their contracts with the Company.

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Unaudited Interim Financial Information The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments, consisting of normal, recurring adjustments considered necessary for a fair presentation, have been included. The information disclosed in the notes to the consolidated financial statements for these periods is unaudited. Operating results for the three and nine months ended June 30, 2020 are not necessarily indicative of the results that may be expected for the year ending September 30, 2020 or for any future period. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect amounts in the consolidated financial statements and accompanying notes. For the three and nine months ended June 30, 2020, these estimates required the Company to make assumptions about the extent and duration of the COVID-19 pandemic and its impacts on the Company's results of operations. As there remains uncertainty associated with the COVID-19 pandemic, the Company will continue to update its assumptions as conditions change. Actual results could differ significantly from those estimates. Leases The Company adopted Accounting Standards Codification (ASC) Topic 842, Leases (ASC 842) effective October 1, 2019. As a result of adopting ASC 842, there have been significant changes to the Company's lease accounting policy from the disclosures in the Company’s Annual Report on Form 10-K for the year ended September 30, 2019. These changes are described below. The Company determines if an arrangement is a lease upon inception. A contract is or contains a lease if the contract provides the right to control the use of an identified asset for a period of time. Lease assets and liabilities are recognized at the lease commencement date at an amount equal to the present value of the lease payments to be made over the lease term. The lease payments represent the combination of lease and nonlease components. The discount rate used to determine the present value is the Company’s incremental borrowing rate for a duration that is consistent with the lease term, as the rates implicit in the Company’s leases are generally not determinable. The Company’s incremental borrowing rate is estimated using publicly-available information for companies with comparable financial profiles, adjusted for the impact of collateralization. The lease term includes the impacts of options to extend or terminate the lease only if it is reasonably certain that the option will be exercised. Lease expense related to operating lease assets and liabilities is recognized on a straight-line basis over the lease term. Lease expense related to finance lease assets is recognized on a straight-line basis over the shorter of the useful life of the asset or the lease term, while lease expense related to finance lease liabilities is recognized using the interest method. Lease-related payments not included in the determination of the lease assets and liabilities, such as variable lease payments, are expensed as incurred. Lease assets and liabilities are not recognized when the lease term is 12 months or less, however, short-term lease expense is still recognized on a straight-line basis over the lease term. Balances related to the Company's finance leases are included with Other assets (finance lease assets), Accrued expenses and other liabilities (current portion of finance lease liabilities), and Deferred taxes and other long-term liabilities (non-current portion of finance lease liabilities). Lease assets are assessed for impairment in accordance with the Company’s accounting policy for the impairment of long-lived assets. Contract Assets and Liabilities Contract assets reflect an estimate of expenses that will be reimbursed upon settlement with a seller. The contract asset balance was $0.5 million as of June 30, 2020 and $0.3 million as of September 30, 2019 and is included in the line item Prepaid expenses and other current assets on the Consolidated Balance Sheets. Contract liabilities reflect obligations to provide services for which the Company has already received consideration, and generally arise from up-front payments received in connection with Machinio's subscription services. The contract liability balance was $3.0 million as of June 30, 2020 and $3.0 million as of September 30, 2019, and is included in the line item Deferred revenue on the Consolidated Balance Sheets. Of the September 30, 2019 contract liability balance, $2.8 million was earned as Fee revenue during the nine months ended June 30, 2020. The $3.0 million contract liability balance as of June 30, 2020 also represents the Company's remaining performance obligations related to contracts with customers that are one year or greater in duration. The Company expects to recognize the substantial majority of that amount as Fee revenue over the next 12 months. Contract Costs Contract costs relate to sales commissions paid on subscription contracts that are capitalized. Contract costs are amortized over the expected life of the customer contract. The contract cost balance was $0.6 million as of June 30, 2020 and $0.5 million as of September 30, 2019 and is included in the line item Prepaid expenses and other current assets and Other assets on the Consolidated Balance Sheet. Amortization expense was immaterial during the three and nine months ended June 30, 2020 and 2019. Other Assets - Promissory Note On September 30, 2015, the Company sold certain assets related to its Jacobs Trading business to Tanager Acquisitions, LLC (Tanager). In connection with the disposition, Tanager assumed certain liabilities related to the Jacobs Trading business. Tanager issued a $12.3 million five-year interest-bearing promissory note to the Company. On October 10, 2019, the Company entered into a Forbearance Agreement and Amendment to Note, Security Agreement and Guaranty Agreement (the "Forbearance Agreement") with Tanager (now known as Jacobs Trading, LLC) and certain of its affiliates (collectively, "JTC"). In exchange for additional collateral, security, and a higher interest rate, the Company granted JTC a new repayment schedule that requires quarterly payments to be made from August 2020 to August 2023. Upon execution of the Forbearance Agreement, JTC repaid $2.5 million in principal, plus $0.4 million in accrued interest. JTC had the opportunity to prepay the full amount remaining before May 15, 2020 at a $0.5 million discount. Of the $12.3 million owed to the Company, $6.6 million has been repaid as of June 30, 2020. The Company considered the terms of the Forbearance Agreement and the cash flows expected to be received from JTC under the new repayment schedule in concluding that it remains probable that the Company will collect the amounts due to the Company as of June 30, 2020 and that no impairment loss has been incurred. Of the $5.7 million outstanding at June 30, 2020, $4.2 million is recorded in Other assets, and $1.5 million is recorded in Prepaid expenses and other current assets, based on the scheduled repayment dates. Risk Associated with Certain Concentrations The Company does not perform credit evaluations for the majority of its buyers. However, most sales are recorded subsequent to payment authorization being received. As a result, the Company is not subject to significant collection risk, as most goods are not shipped before payment is received. For consignment sales transactions, funds are typically collected from buyers and are held by the Company on the sellers' behalf in Payables to sellers on the Consolidated Balance Sheets. The Company releases the funds, less the Company's commission and other fees due, to the seller through Accounts payable after the buyer has accepted the goods or within 30 days, depending on the state where the buyer and seller conduct business. Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash in banks over FDIC limits, certificates of deposit, accounts receivable, and the promissory note. The Company deposits its cash with financial institutions that the Company considers to be of high credit quality. The Company's RSCG segment has vendor contracts with Amazon.com, Inc. under which the RSCG segment acquires and sells commercial merchandise. Transactions under these contracts represented 60.4% and 41.6% of consolidated Cost of goods sold for the three months ended June 30, 2020 and 2019, respectively, and 54.5% and 43.9% of consolidated Cost of goods sold for the nine months ended June 30, 2020 and 2019, respectively. During the three and nine months ended June 30, 2019, the Company had one material vendor contract with the Department of Defense (DoD) under which its CAG segment acquired, managed and sold government property: the Scrap Contract, which concluded on September 30, 2019. Sales of property acquired under the Scrap Contract accounted for 8.2% and 7.8% of the Company's consolidated revenues for the three and nine months ended June 30, 2019, respectively. Earnings per Share For the three months ended June 30, 2020, diluted weighted average common shares outstanding contains 119,396 shares representing the dilutive impact of stock options, RSUs and RSAs. 3,841,385 stock options, RSUs and RSAs were excluded from the computation of diluted weighted average common shares outstanding as they were anti-dilutive. For the nine months ended June 30, 2020 and the three and nine months ended June 30, 2019, basic and diluted weighted average common shares were the same because the Company operated at a net loss in both periods, causing any inclusion of potentially dilutive securities in the computation of diluted net income (loss) per share to be anti-dilutive. See Note 7 for the amounts of outstanding stock options, restricted stock awards and restricted stock units that could potentially dilute net income (loss) per share in the future. Recent Accounting Pronouncements Accounting Standards Adopted On October 1, 2019, the Company adopted ASC 842 using the modified retrospective transition method. Prior periods have not been restated. To perform the adoption, the Company elected several practical expedients, including the package of practical expedients to not reassess prior conclusions on whether a contract is or contains a lease, lease classification, and initial direct costs. The Company also elected to combine both the lease and non-lease components as a single component to be accounted for as a lease, to not recognize lease assets or liabilities for leases with initial lease terms of 12 months or less, and to not use hindsight when determining the lease term. Upon adoption, the Company recognized $11.3 million of operating lease assets and $12.2 million of operating lease liabilities. The Company does not have significant finance lease assets and liabilities. No cumulative-effect adjustment to opening retained earnings was required. No material impacts were noted on the Consolidated Statements of Operations or Consolidated Statements of Cash Flows. Refer to Note 3 for additional details on the Company’s leases. On October 1, 2019, the Company adopted ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. As the Company had no stranded tax effects resulting from the Tax Cuts and Jobs Act enacted on December 22, 2017, no election to reclassify stranded tax effects from Accumulated other comprehensive to Retained earnings was made. The Company also adopted the following ASU 2018-07, Improvements to Nonemployee Share-based Payment Accounting, during the nine months ended June 30, 2020. It did not have a significant impact on the consolidated financial statements or the related footnote disclosures. Accounting Standards Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments (Topic 326), or ASC 326. ASC 326, including all amendments and related guidance, was designed to provide financial statement users with more useful information about the expected credit losses on financial instruments and other commitments to extend credit. ASC 326 will require estimation of expected credit losses using a methodology that takes into consideration a broad range of reasonable and supportable information. The guidance will be effective for the Company beginning on October 1, 2023 and will be applied on a modified-retrospective basis, with any cumulative-effect adjustment recorded to retained earnings on the adoption date. The Company is in the process of evaluating the impact ASC 326 will have on its consolidated financial statements and expects to estimate credit losses on its financial assets such as its Accounts receivable, Short-term investments, and promissory note. While the Company has not experienced significant credit losses historically, the materiality of the impact of adoption will depend on events and conditions as of the date of adoption, which cannot be determined conclusively at this time. In August 2018, the FASB issued ASU 2018-15, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract. ASU 2018-15 aligns the requirements for capitalizing implementation costs in a cloud computing arrangement with the requirement for capitalizing implementation costs incurred to develop or obtain internal-use software. This ASU will become effective for the Company beginning October 1, 2020. The Company is currently evaluating the effect that the adoption of this ASU may have on its consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes. ASU 2019-12 seeks to improve the consistent application of and simplify the guidance for the accounting for income taxes. The ASU removes certain exceptions to the general principals in ASC 740, Income Taxes, and clarifies and amends other existing guidance. The ASU will become effective for the Company beginning October 1, 2021. The Company is currently evaluating the effect that the adoption of this ASU may have on its consolidated financial statements.

Leases

9 Months Ended

Jun. 30, 2020

Leases [Abstract]

Leases

The Company has operating leases for its corporate offices, warehouses, vehicles and equipment. The operating leases have remaining terms of up to 5.2 years. Some of the leases have options to extend or terminate the leases. The exercise of such options is generally at the Company’s discretion. The lease agreements do not contain any significant residual value guarantees or restrictive covenants. The Company also subleases excess corporate office space. The Company's finance leases and related balances are not significant.

The components of lease expense are:


(in thousands)	Three months ended June 30, 2020		Nine months ended June 30, 2020
Finance lease – lease asset amortization	$	16	$	53
Finance lease – interest on lease liabilities	6		18
Operating lease cost	1,310		3,990
Short-term lease cost	48		92
Variable lease cost ⁽¹⁾	371		1,122
Sublease income	(61)		(200)
Total net lease cost	$	1,690	$	5,075

⁽¹⁾ Variable lease costs primarily relate to the Company's election to combine non-lease components such as common area maintenance, insurance and taxes related to its real estate leases. To a lesser extent, the Company's equipment leases have variable costs associated with usage and subsequent changes to costs based upon an index.

Maturities of lease liabilities are:


	June 30, 2020
(in thousands)	Operating Leases		Finance Leases
Remainder of 2020	$	1,261	$	14
2021	4,020		56
2022	2,634		55
2023	1,886		56
2024	911		56
Thereafter	361		105
Total lease payments ⁽¹⁾	$	11,073	$	342
Less: imputed interest ⁽²⁾	(1,038)		(67)
Total lease liabilities	$	10,035	$	275

⁽¹⁾ The weighted average remaining lease term is 3.1 years for operating leases and 6.1 years for finance leases.

⁽²⁾ The weighted average discount rate is 6.4% for operating leases and 7.5% for finance leases.

Supplemental disclosures of cash flow information related to leases are:


(in thousands)	Nine Months Ended June 30, 2020
Cash paid for amounts included in operating lease liabilities	$	3,642
Cash paid for amounts included in finance lease liabilities	26
Non-cash: lease liabilities arising from new operating lease assets obtained ⁽¹⁾	12,188
Non-cash: lease liabilities arising from new finance lease assets obtained	10
Non-cash: adjustments to lease assets and liabilities	1,592

⁽¹⁾ Amount includes $12.2 million of lease liabilities recognized upon the adoption of ASC 842 on October 1, 2019 (see Note 2).

Leases

The components of lease expense are:


(in thousands)	Three months ended June 30, 2020		Nine months ended June 30, 2020
Finance lease – lease asset amortization	$	16	$	53
Finance lease – interest on lease liabilities	6		18
Operating lease cost	1,310		3,990
Short-term lease cost	48		92
Variable lease cost ⁽¹⁾	371		1,122
Sublease income	(61)		(200)
Total net lease cost	$	1,690	$	5,075

Maturities of lease liabilities are:


	June 30, 2020
(in thousands)	Operating Leases		Finance Leases
Remainder of 2020	$	1,261	$	14
2021	4,020		56
2022	2,634		55
2023	1,886		56
2024	911		56
Thereafter	361		105
Total lease payments ⁽¹⁾	$	11,073	$	342
Less: imputed interest ⁽²⁾	(1,038)		(67)
Total lease liabilities	$	10,035	$	275

⁽¹⁾ The weighted average remaining lease term is 3.1 years for operating leases and 6.1 years for finance leases.

⁽²⁾ The weighted average discount rate is 6.4% for operating leases and 7.5% for finance leases.

Supplemental disclosures of cash flow information related to leases are:


(in thousands)	Nine Months Ended June 30, 2020
Cash paid for amounts included in operating lease liabilities	$	3,642
Cash paid for amounts included in finance lease liabilities	26
Non-cash: lease liabilities arising from new operating lease assets obtained ⁽¹⁾	12,188
Non-cash: lease liabilities arising from new finance lease assets obtained	10
Non-cash: adjustments to lease assets and liabilities	1,592

⁽¹⁾ Amount includes $12.2 million of lease liabilities recognized upon the adoption of ASC 842 on October 1, 2019 (see Note 2).

Goodwill

9 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table presents changes in the carrying amount of goodwill by reportable segment:


(in thousands)	CAG		GovDeals		Machinio		Total
Balance at September 30, 2018	$	21,530	$	23,731	$	14,558	$	59,819
Translation adjustments	(352)		—		—		(352)
Balance at September 30, 2019	$	21,178	$	23,731	$	14,558	$	59,467
Translation adjustments	120		—		—		120
Balance at June 30, 2020	$	21,298	$	23,731	$	14,558	$	59,587

Goodwill is tested for impairment at the beginning of the fourth quarter and during interim periods whenever events or circumstances indicate that the carrying value may not be recoverable.

During the three months ended March 31, 2020, the Company identified factors associated with the COVID-19 pandemic that indicated that an interim goodwill impairment test was necessary. These factors included a deterioration of macroeconomic conditions, near-term declines in the Company's results of operations as a result of "shelter-in-place" orders and other related measures, and a decline in the Company's market capitalization.

For the interim goodwill impairment test, the Company performed a fair-value based test for all reporting units with goodwill balances. The fair value of each reporting unit was determined using a discounted cash flow (DCF) analysis. The DCF analysis relied on significant assumptions and judgments about the forecasted future cash flows over the five-year projection period, including revenues, gross profit margins, operating expenses, income taxes, capital expenditures, working capital, and an estimate of the impact and duration of COVID-19 on those factors. These forecasts of future cash flows represent the Company's best estimate using information that is currently available. However, given the uncertainty associated with the COVID-19 pandemic, including its extent and duration, actual results could differ significantly from those estimates. The DCF analysis also used included significant assumptions and judgments about long-term growth rates and discount rates.

The fair value of the GovDeals reporting unit is substantially in excess of its carrying value. The fair value of the CAG and Machinio reporting units exceeded their carrying values by 21% and 12%, respectively, as of March 31, 2020. No impairment charge was recorded as a result of the interim goodwill impairment test.

The Company has continued to evaluate the impact of the COVID-19 pandemic on the recoverability of its goodwill. As there have been favorable developments in the factors that indicated a goodwill impairment test was necessary in the previous quarter, the Company did not identify any indicators of impairment that required an additional interim goodwill impairment test during the three months ended June 30, 2020.

Intangible Assets

9 Months Ended

Jun. 30, 2020

Finite-Lived Intangible Assets, Net [Abstract]

Intangible Assets

The components of intangible assets are as follows:


		June 30, 2020										September 30, 2019
(dollars in thousands)	Useful Life (in years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Contract intangibles	6	$	3,100	$	(1,033)	$	2,067	$	3,100	$	(646)	$	2,454
Technology	5	2,700		(1,080)		1,620		2,700		(675)		2,025
Patent and trademarks	7 - 10	2,322		(923)		1,399		2,276		(712)		1,564
Total intangible assets		$	8,122	$	(3,036)	$	5,086	$	8,076	$	(2,033)	$	6,043

The remaining intangible assets balance at June 30, 2020 is expected to be amortized as follows:


(in thousands)	Expected Amortization Expense
Years ending September 30,
Remainder of 2020	$	335
2021	1,336
2022	1,327
2023	1,183
2024	645
2025 and thereafter	260
Total	$	5,086

Intangible asset amortization expense was $0.3 million and $0.3 million for the three months ended June 30, 2020 and 2019, respectively and $1.0 million and $1.0 million for the nine months ended June 30, 2020 and 2019, respectively.

The factors associated with the COVID-19 pandemic discussed in Note 4 also indicated that an interim long-lived asset impairment test was necessary during the three months ended March 31, 2020. For each asset group, the Company performed an undiscounted cash flow analysis that relies on significant assumptions and judgments surrounding the forecasts of future cash flows over each asset group's projection period. These forecasts of future cash flows represent the Company's best estimate using information that is currently available. However, given the significant uncertainty associated with the COVID-19 pandemic, including its extent and duration, actual results could differ significantly from those estimates.

For each asset group, the undiscounted cash flows exceeded the asset group's carrying value as of March 31, 2020. No impairment charge was recorded as a result of the interim long-lived asset impairment test.

The Company has continued to evaluate the impact of the COVID-19 pandemic on the recoverability of its long-lived assets. As there have been favorable developments in the factors that indicated a long-lived asset impairment test was necessary in the previous quarter, the Company did not identify any indicators of impairment that required an additional long-lived asset impairment test during the three months ended June 30, 2020.

Income Taxes	9 Months Ended
Income Taxes	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s interim effective income tax rate is based on management’s best current estimate of the Company's expected annual effective income tax rate. The Company recorded a pre-tax loss in the first nine months of fiscal year 2020 and its corresponding effective tax rate is (8.4%) compared to (8.8%) for the first nine months of fiscal year 2019. The change in the effective tax rate for the nine months ended June 30, 2020 as compared to the same period in the prior yea r was primarily due to state and foreign taxes. Tax expense in the nine months ended June 30, 2020 is due to state and foreign taxes paid. The effective tax rate differed from the statutory federal rate of 21% primarily as a result of the valuation allowance charge on current year losses and the impact of foreign, state, and local income taxes and permanent tax adjustments. The Company identified no new uncertain tax positions during the nine months ended June 30, 2020. The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction, various state and local jurisdictions and in foreign jurisdictions, primarily Canada and the United Kingdom. As of June 30, 2020, none of the Company's federal or state income tax returns are under examination, however, we remain subject to examination for certain of our foreign income tax returns. The statute of limitations for U.S. federal income tax returns for years prior to fiscal 2017 is now closed. However, certain tax attribute carryforwards that were generated prior to fiscal 2017 may be adjusted upon examination by tax authorities if they are utilized. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law. The CARES Act provides opportunities for additional liquidity, loan guarantees, and other government programs to support companies affected by the COVID-19 pandemic and their employees. Based on our preliminary analysis of the CARES Act, we do not expect a significant impact to our consolidated financial statements.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Stockholders' Equity

9 Months Ended

Jun. 30, 2020

Equity [Abstract]

Stockholders' Equity

Stockholders’ Equity

The changes in stockholders’ equity for the prior year comparable period is as follows:


	Common Stock
(dollars in thousands)	Shares	Amount		Additional Paid-in Capital		Accumulated Other Comprehensive Loss		Accumulated Deficit		Total
Balance at September 30, 2018	32,774,118	$	33	$	236,115	$	(6,449)	$	(100,045)	$	129,654
Cumulative adjustment related to the adoption of ASC 606	—	—		—		—		730		730
Net loss	—	—		—		—		(5,022)		(5,022)
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units	409,060	—		8		—		—		8

Stock compensation expense	—	—		1,556		—		—		1,556
Foreign currency translation	—	—		—		(427)		—		(427)
Balance at December 31, 2018	33,183,178	$	33	$	237,679	$	(6,876)	$	(104,337)	$	126,499
Net loss	—	—		—		—		(4,362)		(4,362)
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units	197,642	—		116		—		—		116
Stock compensation expense	—	—		2,011		—		—		2,011
Forfeitures of restricted stock awards	(33,163)	—		—		—		—		—
Foreign currency translation and other	—	—		—		198		3		201
Balance at March 31, 2019	33,347,657	$	33	$	239,806	$	(6,678)	$	(108,696)	$	124,465
Net loss	—	—		—		—		(4,649)		(4,649)
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units	150,421	—		5		—		—		5
Stock compensation expense	—	—		1,550		—		—		1,550
Foreign currency translation and other	—	—		—		(255)		(3)		(258)
Balance at June 30, 2019	33,498,078	$	33	$	241,361	$	(6,933)	$	(113,348)	$	121,113

Stock Compensation Incentive Plans

During the quarter ended March 31, 2020, the Company's shareholders approved an amendment and restatement to its Second Amended and Restated 2006 Omnibus Long-Term Incentive Plan (the Third Amended and Restated 2006 Omnibus Long-Term Incentive Plan) to increase the number of shares of common stock reserved for issuance from 16,300,000 to 19,100,000.

Stock Compensation Expense

Stock-based compensation expense was $3.8 million for the nine months ended June 30, 2020, which included $3.9 million of expense related to equity-classified stock options and RSUs & RSAs (restricted stock units and awards) and a $0.1 million benefit related to liability-classified SARs (cash-settled stock appreciation rights).

Stock Options and RSUs & RSAs

The following table presents stock option and RSUs & RSAs grant activity:


	Nine Months Ended
	June 30, 2020
Stock Options granted:
Options containing only service conditions:	415,719
Weighted average exercise price	$	6.82
Weighted average grant date fair value	$	2.72

Options containing performance or market conditions:	402,800
Weighted average exercise price	$	6.82
Weighted average grant date fair value	$	2.62

RSUs & RSAs granted:
RSUs & RSAs containing only service conditions:	310,493
Weighted average grant date fair value	$	5.92

RSUs & RSAs containing performance or market conditions:	173,600
Weighted average grant date fair value	$	4.49

The stock options and RSUs & RSAs containing only service conditions will vest over a four year service period. The stock options and RSUs & RSAs containing performance conditions will vest upon the achievement of specified financial targets of the Company or its business units. The stock options and RSUs & RSAs containing market conditions will vest upon the achievement of specified increases in the Company’s share price. Vesting is measured the first day of each fiscal quarter over the four-year terms of the awards, starting with the first fiscal quarter after the first anniversary of the grant date, based upon the trailing 20-days average of the Company’s share price.

The range of assumptions used to determine the fair value of stock options containing only service conditions using the Black-Scholes option-pricing model during the nine months ended June 30, 2020 include a dividend yield of 0.0%, expected volatility rates of 46.5% to 51.0%, risk-free interest rates of 0.5% to 1.5%, and expected terms of 4.6 to 7.4 years.

The range of assumptions used to determine the fair value of stock options and RSUs & RSAs containing market conditions using Monte Carlo simulations during the nine months ended June 30, 2020 include a dividend yield of 0.0%, expected volatility rates of 46.7% to 51.2%, risk-free interest rates of 1.5% to 1.7%, and expected holding period (% of remaining term for stock options only) of 30.7% to 100%.

SARs

During the six months ended June 30, 2020, the Company did not issue any SARs, 225,267 SARs were exercised requiring the Company to make cash payments of $0.6 million, and 40,355 SARs were canceled. As of June 30, 2020, 167,960 SARs were outstanding.

Share Repurchase Program

The Company did not repurchase shares during the nine months ended June 30, 2020 or 2019. As of June 30, 2020, the Company has $10.1 million of remaining authorization to repurchase shares under its share repurchase program.

Fair Value Measurement

9 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurement

The Company measures and records certain assets and liabilities at fair value on a recurring basis. Authoritative guidance issued by the FASB establishes a fair value hierarchy for those instruments measured at fair value that distinguishes between assumptions based on market data (observable inputs) and the Company’s assumptions (unobservable inputs). The hierarchy consists of three levels:

Level 1: Quoted market prices in active markets for identical assets or liabilities;

Level 2: Inputs other than Level 1 inputs that are either directly or indirectly observable; and

Level 3: Unobservable inputs developed using estimates and assumptions developed by the Company, which reflect those that a market participant would use.

During the year ended September 30, 2018, and as a result of the acquisition of Machinio, the Company recorded contingent consideration which was measured at fair value (Level 3). At September 30, 2019, the Company estimated the fair value of the contingent consideration using a Monte Carlo simulation. The simulation estimated Machinio's adjusted EBITDA over the calendar year 2019 earn-out period using a market-based volatility factor and market interest rates resulting in an average EBITDA. A present value factor was applied based on the expected settlement date of the contingent consideration. At June 30, 2020, the calendar year 2019 earn-out period was complete and the liability has been paid in full.

The changes in the earn-out liability measured at fair value using Level 3 inputs to determine fair value for the nine months ended June 30, 2020 are as follows:


(in thousands)	Contingent Consideration

Balance at September 30, 2019	$	4,800
Change in fair value	200
Settlement	(5,000)
Balance at June 30, 2020	$	—

The increase in the fair value of the earn-out liability is due to Machinio's full attainment of its actual adjusted EBITDA target for the calendar year 2019 earn-out period. The expense for the change in fair value was included in Other operating expenses in the Consolidated Statements of Operations. The earn-out liability was paid in full during the three months ended March 31, 2020.

The Company had short-term investments of $30.0 million at September 30, 2019 in certificates of deposit with maturities of six months or less, and interest rates between 1.97% and 2.50%. The Company has $30.0 million of money market funds considered cash equivalents at June 30, 2020. These assets were measured at fair value at June 30, 2020 and September 30, 2019 and were classified as Level 1 assets within the fair value hierarchy.

The Company’s financial assets and liabilities not measured at fair value are cash and cash equivalents (which includes cash and commercial paper with original maturities of less than 90 days), accounts receivable, a promissory note and accounts payable. The Company believes the carrying values of these instruments approximate fair value.

At June 30, 2020 and September 30, 2019, the Company did not have any assets or liabilities measured at fair value on a non-recurring basis.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Defined Benefit Pension Plan

9 Months Ended

Jun. 30, 2020

Retirement Benefits [Abstract]

Defined Benefit Pension Plan

Defined Benefit Pension Plan Certain employees of Liquidity Services UK Limited (GoIndustry), which the Company acquired in July 2012, are covered by the Henry Butcher Pension Fund and Life Assurance Scheme (the Scheme), a qualified defined benefit pension plan. The Company guarantees GoIndustry's performance on all present and future obligations to make payments to the Scheme for up to a maximum of £10 million British pounds. The Scheme was closed to new members on January 1, 2002.

The net periodic benefit, other than service costs, is recognized within Interest other income, net in the Consolidated Statements of Operations, and for the three and nine months ended June 30, 2020 and 2019 included the following components:


	Three Months Ended June 30,						Nine Months Ended June 30,
(in thousands)	2020		2019		2020		2019
Service cost	$	—	$	—	$	—	$	—
Interest cost	119		136		336		$	446
Expected return on plan assets	(192)		(222)		(595)		(695)
Amortization of prior service cost	5		—		15		—
Total net periodic (benefit)	$	(68)	$	(86)	$	(244)	$	(249)

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=118257860&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section S99
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=21916913&loc=d3e273930-122802

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-URI http://asc.fasb.org/extlink&oid=49170846&loc=d3e28014-114942

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

Business Realignment Expenses

9 Months Ended

Jun. 30, 2020

Restructuring and Related Activities [Abstract]

Business Realignment Expenses

Business realignment expenses are associated with management changes, exiting certain businesses, or other cost saving actions and are recorded as a component of Other operating expenses on the Consolidated Statements of Operations.

For the three and nine ended June 30, 2020, business realignment expenses were incurred related to the elimination of certain positions in response to the COVID-19 pandemic.

For the year ended September 30, 2019, business realignment expenses were incurred related to: management changes associated with a strategic reorganization of the Company's go-to-market strategy for self-directed and fully-managed market place services, the conclusion of the Scrap Contract, and other cost saving actions.

Business realignment expenses were as follows for the periods presented:


	Three Months Ended June 30,						Nine Months Ended June 30,
(in thousands)	2020		2019		2020		2019
Employee severance and benefit costs:
GovDeals	$	25	$	—	$	25	$	—
RSCG	64		—		64		—
CAG	67		248		67		248
Corporate & Other	172		1,125		172		1,295
Total employee severance and benefit costs	$	328	$	1,373	$	328	$	1,543

Occupancy and other costs:
CAG	—		—		—		51
Corporate & Other	—		—		—		134
Total occupancy and other costs	—		—		—		185
Total business realignment expenses	$	328	$	1,373	$	328	$	1,728

The table below sets forth the significant components and activity in the liability for business realignment initiatives, on a segment and consolidated basis:


(in thousands)	Liability Balance at September 30, 2018		Business Realignment Expenses		Cash Payments		Liability Balance at September 30, 2019		Adoption of ASC 842		Business Realignment Expenses		Cash Payments		Liability Balance at June 30, 2020
Employee severance and benefit costs:
GovDeals	$	—	$	—	$	—	$	—	$	—	$	25	$	(15)	$	10
RCSG	—		—		—		—		—		64		(52)		12
CAG	89		443		(118)		414		—		67		(435)		46
Corporate & Other	21		1,537		(1,320)		238		—		172		(343)		67
Total employee severance and benefit costs	$	110	$	1,980	$	(1,438)	$	652	$	—	$	328	$	(845)	$	135
Occupancy and other costs:
CAG	459		51		(341)		169		(169)		—		—		—
Corporate & Other	807		134		(941)		—		—		—		—		—
Total occupancy and other costs	$	1,266	$	185	$	(1,282)	$	169	$	(169)	$	—	$	—	$	—
Total business realignment	$	1,376	$	2,165	$	(2,720)	$	821	$	(169)	$	328	$	(845)	$	135

Legal Proceedings and Other Contingencies	9 Months Ended
Legal Proceedings and Other Contingencies	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings and Other Contingencies	Legal Proceedings and Other Contingencies The Company reserves for contingent liabilities based on ASC 450, Contingencies, when it determines that a liability is probable and reasonably estimable. From time to time, the Company may become involved in litigation relating to claims arising in the ordinary course of the business. There are no claims or actions pending or threatened against the Company that, if adversely determined, would in management's judgment have a material adverse effect on the Company. During the three months ended December 31, 2019, the Company paid its $0.6 million liability resulting from a sales tax audit performed by the State of California.

Segment Information

9 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Segment Information

The Company provides results in four reportable operating segments: GovDeals, RSCG, CAG and Machinio. Descriptions of our reportable segments are as follows:

•The GovDeals reportable segment provides self-directed service solutions in which sellers list their own assets, and it consists of marketplaces that enable local and state government entities including city, county and state agencies, as well as quasi-governmental businesses located in the United States and Canada to sell surplus and salvage assets. GovDeals also offers a suite of services to sellers that includes asset sales and marketing. Through the end of fiscal 2019, GovDeals provided self-directed service solutions to commercial businesses as part of the Auction Deals marketplace.

•The RSCG reportable segment consists of marketplaces that enable corporations located in the United States and Canada to sell surplus and salvage consumer goods and retail capital assets. RSCG also offers a suite of services that includes returns management, asset recovery, and e-commerce services. This segment includes the Company's Liquidation.com, Liquidation.com DIRECT, and Secondipity marketplaces.

•The CAG reportable segment provides full-service solutions to sellers and it consists of marketplaces that enable commercial businesses to sell surplus, salvage, and scrap assets. CAG also offers a suite of services that includes surplus management, asset valuation, asset sales and marketing. Commercial sellers are located in the United States, Europe, Australia and Asia. This segment includes the Company's Network International and GoIndustry DoveBid marketplaces and, beginning in fiscal 2020, self-directed service solutions for commercial businesses within a unified marketplace previously referred to as Auction Deals. Prior to the conclusion of the Scrap Contract (see Note 2), CAG sold scrap assets from the DoD on its Government Liquidation marketplace.

•The Machinio reportable segment operates a global online platform for listing used equipment for sale in the construction, machine tool, transportation, printing and agriculture sectors.

We also report results of Corporate & Other, which for the nine months ended June 30, 2019 includes a previously existing operating segment that did not meet the quantitative thresholds to be a reportable segment, IronDirect. The Company exited the IronDirect business in January 2019.

Decisions concerning the allocation of the Company’s resources are made by the Company’s Chief Operating Decision Maker (CODM), which is the Company's Chief Executive Officer. The Company reports segment information based on the internal performance measures used by the CODM to assess the performance of each operating segment in a given period. In connection with that assessment, the CODM uses segment gross profit to evaluate the performance of each segment. Gross profit is calculated as total revenue less cost of goods sold and seller distributions.

The following table sets forth certain financial information for the Company's reportable segments:


		Three Months Ended June 30,									Nine Months Ended June 30,
(in thousands)				2020			2019			2020			2019
GovDeals:
	Revenue	$	—		$	—		$	—		$	—
	Fee revenue	6,021			9,280			21,858			24,635
	Total revenue	6,021			9,280			21,858			24,635
	Gross profit	$	5,637		$	8,560		$	20,361		$	22,663

RSCG:
	Revenue	$	29,454		$	27,011		$	89,857		$	82,904
	Fee revenue	4,099			4,250			11,650			11,846
	Total revenue	33,553			31,261			101,507			94,750
	Gross profit	$	12,022		$	10,874		$	34,721		$	32,710

CAG:
	Revenue	$	988		$	9,377		$	6,137		$	26,105
	Fee revenue	5,384			5,513			15,216			17,951
	Total revenue	6,372			14,890			21,353			44,056
	Gross profit	$	5,892		$	7,759		$	16,628		$	25,255

Machinio:
	Revenue	$	—		$	—		$	—		$	—
	Fee revenue	1,776			1,451			5,332			3,816
	Total revenue	1,776			1,451			5,332			3,816
	Gross Profit	$	1,677		$	1,358		$	5,051		$	3,501

Corporate & Other:
	Revenue	$	—		$	—		$	—		$	469
	Fee revenue	—			—			—			9
	Total revenue	—			—			—			478
	Gross profit	$	—		$	—		$	—		$	113

Consolidated:
	Revenue	$	30,442		$	36,388		$	95,994		$	109,478
	Fee revenue	17,280			20,494			54,056			58,257
	Total revenue	47,722			56,882			150,050			167,735
	Gross profit	$	25,228		$	28,551		$	76,761		$	84,242

The following table presents a reconciliation of gross profit used in the reportable segments to the Company's consolidated results:


		Three Months Ended June 30,									Nine Months Ended June 30,
(in thousands)				2020			2019			2020			2019
Reconciliation:
	Gross profit	$	25,228		$	28,551		$	76,761		$	84,242
	Operating expenses	24,711			31,081			85,505			94,777
	Other operating expenses	319			2,031			500			3,586
	Interest and other income, net	(224)			(454)			(733)			(1,224)
	Income (loss) before provision for income taxes	$	422		$	(4,107)		$	(8,511)		$	(12,897)

The percent of our revenues that came from transactions conducted outside of the United States for the three months ended June 30, 2020 and 2019 was 11.2% and 13.6%, respectively and the percent of our revenues that came from transactions conducted outside of the United States for the nine months ended June 30, 2020 and 2019 was 12.5% and 14.9%, respectively.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2020
Accounting Policies [Abstract]
Unaudited Interim Financial Information	Unaudited Interim Financial Information The accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (GAAP) for interim financial information. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments, consisting of normal, recurring adjustments considered necessary for a fair presentation, have been included. The information disclosed in the notes to the consolidated financial statements for these periods is unaudited. Operating results for the three and nine months ended June 30, 2020 are not necessarily indicative of the results that may be expected for the year ending September 30, 2020 or for any future period.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect amounts in the consolidated financial statements and accompanying notes. For the three and nine months ended June 30, 2020, these estimates required the Company to make assumptions about the extent and duration of the COVID-19 pandemic and its impacts on the Company's results of operations. As there remains uncertainty associated with the COVID-19 pandemic, the Company will continue to update its assumptions as conditions change. Actual results could differ significantly from those estimates.
Leases	Leases The Company adopted Accounting Standards Codification (ASC) Topic 842, Leases (ASC 842) effective October 1, 2019. As a result of adopting ASC 842, there have been significant changes to the Company's lease accounting policy from the disclosures in the Company’s Annual Report on Form 10-K for the year ended September 30, 2019. These changes are described below. The Company determines if an arrangement is a lease upon inception. A contract is or contains a lease if the contract provides the right to control the use of an identified asset for a period of time. Lease assets and liabilities are recognized at the lease commencement date at an amount equal to the present value of the lease payments to be made over the lease term. The lease payments represent the combination of lease and nonlease components. The discount rate used to determine the present value is the Company’s incremental borrowing rate for a duration that is consistent with the lease term, as the rates implicit in the Company’s leases are generally not determinable. The Company’s incremental borrowing rate is estimated using publicly-available information for companies with comparable financial profiles, adjusted for the impact of collateralization. The lease term includes the impacts of options to extend or terminate the lease only if it is reasonably certain that the option will be exercised. Lease expense related to operating lease assets and liabilities is recognized on a straight-line basis over the lease term. Lease expense related to finance lease assets is recognized on a straight-line basis over the shorter of the useful life of the asset or the lease term, while lease expense related to finance lease liabilities is recognized using the interest method. Lease-related payments not included in the determination of the lease assets and liabilities, such as variable lease payments, are expensed as incurred. Lease assets and liabilities are not recognized when the lease term is 12 months or less, however, short-term lease expense is still recognized on a straight-line basis over the lease term. Balances related to the Company's finance leases are included with Other assets (finance lease assets), Accrued expenses and other liabilities (current portion of finance lease liabilities), and Deferred taxes and other long-term liabilities (non-current portion of finance lease liabilities). Lease assets are assessed for impairment in accordance with the Company’s accounting policy for the impairment of long-lived assets.
Contract Assets and Liabilities; Contract Costs	Contract Assets and Liabilities Contract assets reflect an estimate of expenses that will be reimbursed upon settlement with a seller. The contract asset balance was $0.5 million as of June 30, 2020 and $0.3 million as of September 30, 2019 and is included in the line item Prepaid expenses and other current assets on the Consolidated Balance Sheets. Contract liabilities reflect obligations to provide services for which the Company has already received consideration, and generally arise from up-front payments received in connection with Machinio's subscription services. The contract liability balance was $3.0 million as of June 30, 2020 and $3.0 million as of September 30, 2019, and is included in the line item Deferred revenue on the Consolidated Balance Sheets. Of the September 30, 2019 contract liability balance, $2.8 million was earned as Fee revenue during the nine months ended June 30, 2020. The $3.0 million contract liability balance as of June 30, 2020 also represents the Company's remaining performance obligations related to contracts with customers that are one year or greater in duration. The Company expects to recognize the substantial majority of that amount as Fee revenue over the next 12 months. Contract Costs Contract costs relate to sales commissions paid on subscription contracts that are capitalized. Contract costs are amortized over the expected life of the customer contract. The contract cost balance was $0.6 million as of June 30, 2020 and $0.5 million as of September 30, 2019 and is included in the line item Prepaid expenses and other current assets and Other assets on the Consolidated Balance Sheet. Amortization expense was immaterial during the three and nine months ended June 30, 2020 and 2019.
Other Assets - Promissory Note	Other Assets - Promissory Note On September 30, 2015, the Company sold certain assets related to its Jacobs Trading business to Tanager Acquisitions, LLC (Tanager). In connection with the disposition, Tanager assumed certain liabilities related to the Jacobs Trading business. Tanager issued a $12.3 million five-year interest-bearing promissory note to the Company. On October 10, 2019, the Company entered into a Forbearance Agreement and Amendment to Note, Security Agreement and Guaranty Agreement (the "Forbearance Agreement") with Tanager (now known as Jacobs Trading, LLC) and certain of its affiliates (collectively, "JTC"). In exchange for additional collateral, security, and a higher interest rate, the Company granted JTC a new repayment schedule that requires quarterly payments to be made from August 2020 to August 2023. Upon execution of the Forbearance Agreement, JTC repaid $2.5 million in principal, plus $0.4 million in accrued interest. JTC had the opportunity to prepay the full amount remaining before May 15, 2020 at a $0.5 million discount. Of the $12.3 million owed to the Company, $6.6 million has been repaid as of June 30, 2020. The Company considered the terms of the Forbearance Agreement and the cash flows expected to be received from JTC under the new repayment schedule in concluding that it remains probable that the Company will collect the amounts due to the Company as of June 30, 2020 and that no impairment loss has been incurred. Of the $5.7 million outstanding at June 30, 2020, $4.2 million is recorded in Other assets, and $1.5 million is recorded in Prepaid expenses and other current assets, based on the scheduled repayment dates.
Risk Associated with Certain Concentrations	Risk Associated with Certain Concentrations The Company does not perform credit evaluations for the majority of its buyers. However, most sales are recorded subsequent to payment authorization being received. As a result, the Company is not subject to significant collection risk, as most goods are not shipped before payment is received. For consignment sales transactions, funds are typically collected from buyers and are held by the Company on the sellers' behalf in Payables to sellers on the Consolidated Balance Sheets. The Company releases the funds, less the Company's commission and other fees due, to the seller through Accounts payable after the buyer has accepted the goods or within 30 days, depending on the state where the buyer and seller conduct business. Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash in banks over FDIC limits, certificates of deposit, accounts receivable, and the promissory note. The Company deposits its cash with financial institutions that the Company considers to be of high credit quality.
Earnings per Share	Earnings per Share For the three months ended June 30, 2020, diluted weighted average common shares outstanding contains 119,396 shares representing the dilutive impact of stock options, RSUs and RSAs. 3,841,385 stock options, RSUs and RSAs were excluded from the computation of diluted weighted average common shares outstanding as they were anti-dilutive. For the nine months ended June 30, 2020 and the three and nine months ended June 30, 2019, basic and diluted weighted average common shares were the same because the Company operated at a net loss in both periods, causing any inclusion of potentially dilutive securities in the computation of diluted net income (loss) per share to be anti-dilutive. See Note 7 for the amounts of outstanding stock options, restricted stock awards and restricted stock units that could potentially dilute net income (loss) per share in the future.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting Standards Adopted On October 1, 2019, the Company adopted ASC 842 using the modified retrospective transition method. Prior periods have not been restated. To perform the adoption, the Company elected several practical expedients, including the package of practical expedients to not reassess prior conclusions on whether a contract is or contains a lease, lease classification, and initial direct costs. The Company also elected to combine both the lease and non-lease components as a single component to be accounted for as a lease, to not recognize lease assets or liabilities for leases with initial lease terms of 12 months or less, and to not use hindsight when determining the lease term. Upon adoption, the Company recognized $11.3 million of operating lease assets and $12.2 million of operating lease liabilities. The Company does not have significant finance lease assets and liabilities. No cumulative-effect adjustment to opening retained earnings was required. No material impacts were noted on the Consolidated Statements of Operations or Consolidated Statements of Cash Flows. Refer to Note 3 for additional details on the Company’s leases. On October 1, 2019, the Company adopted ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. As the Company had no stranded tax effects resulting from the Tax Cuts and Jobs Act enacted on December 22, 2017, no election to reclassify stranded tax effects from Accumulated other comprehensive to Retained earnings was made. The Company also adopted the following ASU 2018-07, Improvements to Nonemployee Share-based Payment Accounting, during the nine months ended June 30, 2020. It did not have a significant impact on the consolidated financial statements or the related footnote disclosures. Accounting Standards Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments (Topic 326), or ASC 326. ASC 326, including all amendments and related guidance, was designed to provide financial statement users with more useful information about the expected credit losses on financial instruments and other commitments to extend credit. ASC 326 will require estimation of expected credit losses using a methodology that takes into consideration a broad range of reasonable and supportable information. The guidance will be effective for the Company beginning on October 1, 2023 and will be applied on a modified-retrospective basis, with any cumulative-effect adjustment recorded to retained earnings on the adoption date. The Company is in the process of evaluating the impact ASC 326 will have on its consolidated financial statements and expects to estimate credit losses on its financial assets such as its Accounts receivable, Short-term investments, and promissory note. While the Company has not experienced significant credit losses historically, the materiality of the impact of adoption will depend on events and conditions as of the date of adoption, which cannot be determined conclusively at this time. In August 2018, the FASB issued ASU 2018-15, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract. ASU 2018-15 aligns the requirements for capitalizing implementation costs in a cloud computing arrangement with the requirement for capitalizing implementation costs incurred to develop or obtain internal-use software. This ASU will become effective for the Company beginning October 1, 2020. The Company is currently evaluating the effect that the adoption of this ASU may have on its consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, Simplifying the Accounting for Income Taxes. ASU 2019-12 seeks to improve the consistent application of and simplify the guidance for the accounting for income taxes. The ASU removes certain exceptions to the general principals in ASC 740, Income Taxes, and clarifies and amends other existing guidance. The ASU will become effective for the Company beginning October 1, 2021. The Company is currently evaluating the effect that the adoption of this ASU may have on its consolidated financial statements.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

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-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130563-203045

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=84158767&loc=d3e18823-107790

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130566-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130564-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 20
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130566-203045

+ Details

Leases (Tables)

9 Months Ended

Jun. 30, 2020

Leases [Abstract]

Summary of lease expense and supplemental cash flow information

The components of lease expense are:


(in thousands)	Three months ended June 30, 2020		Nine months ended June 30, 2020
Finance lease – lease asset amortization	$	16	$	53
Finance lease – interest on lease liabilities	6		18
Operating lease cost	1,310		3,990
Short-term lease cost	48		92
Variable lease cost ⁽¹⁾	371		1,122
Sublease income	(61)		(200)
Total net lease cost	$	1,690	$	5,075

Supplemental disclosures of cash flow information related to leases are:


(in thousands)	Nine Months Ended June 30, 2020
Cash paid for amounts included in operating lease liabilities	$	3,642
Cash paid for amounts included in finance lease liabilities	26
Non-cash: lease liabilities arising from new operating lease assets obtained ⁽¹⁾	12,188
Non-cash: lease liabilities arising from new finance lease assets obtained	10
Non-cash: adjustments to lease assets and liabilities	1,592

⁽¹⁾ Amount includes $12.2 million of lease liabilities recognized upon the adoption of ASC 842 on October 1, 2019 (see Note 2).

Schedule of operating lease maturities

Maturities of lease liabilities are:


	June 30, 2020
(in thousands)	Operating Leases		Finance Leases
Remainder of 2020	$	1,261	$	14
2021	4,020		56
2022	2,634		55
2023	1,886		56
2024	911		56
Thereafter	361		105
Total lease payments ⁽¹⁾	$	11,073	$	342
Less: imputed interest ⁽²⁾	(1,038)		(67)
Total lease liabilities	$	10,035	$	275

⁽¹⁾ The weighted average remaining lease term is 3.1 years for operating leases and 6.1 years for finance leases.

⁽²⁾ The weighted average discount rate is 6.4% for operating leases and 7.5% for finance leases.

Schedule of finance lease maturities

Maturities of lease liabilities are:


	June 30, 2020
(in thousands)	Operating Leases		Finance Leases
Remainder of 2020	$	1,261	$	14
2021	4,020		56
2022	2,634		55
2023	1,886		56
2024	911		56
Thereafter	361		105
Total lease payments ⁽¹⁾	$	11,073	$	342
Less: imputed interest ⁽²⁾	(1,038)		(67)
Total lease liabilities	$	10,035	$	275

⁽¹⁾ The weighted average remaining lease term is 3.1 years for operating leases and 6.1 years for finance leases.

⁽²⁾ The weighted average discount rate is 6.4% for operating leases and 7.5% for finance leases.

Goodwill (Tables)

9 Months Ended

Jun. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of goodwill activity

The following table presents changes in the carrying amount of goodwill by reportable segment:


(in thousands)	CAG		GovDeals		Machinio		Total
Balance at September 30, 2018	$	21,530	$	23,731	$	14,558	$	59,819
Translation adjustments	(352)		—		—		(352)
Balance at September 30, 2019	$	21,178	$	23,731	$	14,558	$	59,467
Translation adjustments	120		—		—		120
Balance at June 30, 2020	$	21,298	$	23,731	$	14,558	$	59,587

Intangible Assets (Tables)

9 Months Ended

Jun. 30, 2020

Finite-Lived Intangible Assets, Net [Abstract]

Schedule of intangible assets

The components of intangible assets are as follows:


		June 30, 2020										September 30, 2019
(dollars in thousands)	Useful Life (in years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Contract intangibles	6	$	3,100	$	(1,033)	$	2,067	$	3,100	$	(646)	$	2,454
Technology	5	2,700		(1,080)		1,620		2,700		(675)		2,025
Patent and trademarks	7 - 10	2,322		(923)		1,399		2,276		(712)		1,564
Total intangible assets		$	8,122	$	(3,036)	$	5,086	$	8,076	$	(2,033)	$	6,043

Schedule of future expected amortization of intangible assets

The remaining intangible assets balance at June 30, 2020 is expected to be amortized as follows:


(in thousands)	Expected Amortization Expense
Years ending September 30,
Remainder of 2020	$	335
2021	1,336
2022	1,327
2023	1,183
2024	645
2025 and thereafter	260
Total	$	5,086

Stockholders' Equity (Tables)

9 Months Ended

Jun. 30, 2020

Equity [Abstract]

Schedule of stockholders' equity

The changes in stockholders’ equity for the prior year comparable period is as follows:


	Common Stock
(dollars in thousands)	Shares	Amount		Additional Paid-in Capital		Accumulated Other Comprehensive Loss		Accumulated Deficit		Total
Balance at September 30, 2018	32,774,118	$	33	$	236,115	$	(6,449)	$	(100,045)	$	129,654
Cumulative adjustment related to the adoption of ASC 606	—	—		—		—		730		730
Net loss	—	—		—		—		(5,022)		(5,022)
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units	409,060	—		8		—		—		8

Stock compensation expense	—	—		1,556		—		—		1,556
Foreign currency translation	—	—		—		(427)		—		(427)
Balance at December 31, 2018	33,183,178	$	33	$	237,679	$	(6,876)	$	(104,337)	$	126,499
Net loss	—	—		—		—		(4,362)		(4,362)
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units	197,642	—		116		—		—		116
Stock compensation expense	—	—		2,011		—		—		2,011
Forfeitures of restricted stock awards	(33,163)	—		—		—		—		—
Foreign currency translation and other	—	—		—		198		3		201
Balance at March 31, 2019	33,347,657	$	33	$	239,806	$	(6,678)	$	(108,696)	$	124,465
Net loss	—	—		—		—		(4,649)		(4,649)
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units	150,421	—		5		—		—		5
Stock compensation expense	—	—		1,550		—		—		1,550
Foreign currency translation and other	—	—		—		(255)		(3)		(258)
Balance at June 30, 2019	33,498,078	$	33	$	241,361	$	(6,933)	$	(113,348)	$	121,113

Summary of stock options and restricted stock granted

The following table presents stock option and RSUs & RSAs grant activity:


	Nine Months Ended
	June 30, 2020
Stock Options granted:
Options containing only service conditions:	415,719
Weighted average exercise price	$	6.82
Weighted average grant date fair value	$	2.72

Options containing performance or market conditions:	402,800
Weighted average exercise price	$	6.82
Weighted average grant date fair value	$	2.62

RSUs & RSAs granted:
RSUs & RSAs containing only service conditions:	310,493
Weighted average grant date fair value	$	5.92

RSUs & RSAs containing performance or market conditions:	173,600
Weighted average grant date fair value	$	4.49

Fair Value Measurement (Tables)

9 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Changes in financial liabilities fair value

The changes in the earn-out liability measured at fair value using Level 3 inputs to determine fair value for the nine months ended June 30, 2020 are as follows:


(in thousands)	Contingent Consideration

Balance at September 30, 2019	$	4,800
Change in fair value	200
Settlement	(5,000)
Balance at June 30, 2020	$	—

Defined Benefit Pension Plan (Tables)

9 Months Ended

Jun. 30, 2020

Retirement Benefits [Abstract]

Schedule of net periodic benefit cost recognized


	Three Months Ended June 30,						Nine Months Ended June 30,
(in thousands)	2020		2019		2020		2019
Service cost	$	—	$	—	$	—	$	—
Interest cost	119		136		336		$	446
Expected return on plan assets	(192)		(222)		(595)		(695)
Amortization of prior service cost	5		—		15		—
Total net periodic (benefit)	$	(68)	$	(86)	$	(244)	$	(249)

Business Realignment Expenses (Tables)

9 Months Ended

Jun. 30, 2020

Restructuring and Related Activities [Abstract]

Restructuring and related costs

Business realignment expenses were as follows for the periods presented:


	Three Months Ended June 30,						Nine Months Ended June 30,
(in thousands)	2020		2019		2020		2019
Employee severance and benefit costs:
GovDeals	$	25	$	—	$	25	$	—
RSCG	64		—		64		—
CAG	67		248		67		248
Corporate & Other	172		1,125		172		1,295
Total employee severance and benefit costs	$	328	$	1,373	$	328	$	1,543

Occupancy and other costs:
CAG	—		—		—		51
Corporate & Other	—		—		—		134
Total occupancy and other costs	—		—		—		185
Total business realignment expenses	$	328	$	1,373	$	328	$	1,728

The table below sets forth the significant components and activity in the liability for business realignment initiatives, on a segment and consolidated basis:


(in thousands)	Liability Balance at September 30, 2018		Business Realignment Expenses		Cash Payments		Liability Balance at September 30, 2019		Adoption of ASC 842		Business Realignment Expenses		Cash Payments		Liability Balance at June 30, 2020
Employee severance and benefit costs:
GovDeals	$	—	$	—	$	—	$	—	$	—	$	25	$	(15)	$	10
RCSG	—		—		—		—		—		64		(52)		12
CAG	89		443		(118)		414		—		67		(435)		46
Corporate & Other	21		1,537		(1,320)		238		—		172		(343)		67
Total employee severance and benefit costs	$	110	$	1,980	$	(1,438)	$	652	$	—	$	328	$	(845)	$	135
Occupancy and other costs:
CAG	459		51		(341)		169		(169)		—		—		—
Corporate & Other	807		134		(941)		—		—		—		—		—
Total occupancy and other costs	$	1,266	$	185	$	(1,282)	$	169	$	(169)	$	—	$	—	$	—
Total business realignment	$	1,376	$	2,165	$	(2,720)	$	821	$	(169)	$	328	$	(845)	$	135

Segment Information (Tables)

9 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Schedule of segment reporting information by segment

The following table sets forth certain financial information for the Company's reportable segments:


		Three Months Ended June 30,									Nine Months Ended June 30,
(in thousands)				2020			2019			2020			2019
GovDeals:
	Revenue	$	—		$	—		$	—		$	—
	Fee revenue	6,021			9,280			21,858			24,635
	Total revenue	6,021			9,280			21,858			24,635
	Gross profit	$	5,637		$	8,560		$	20,361		$	22,663

RSCG:
	Revenue	$	29,454		$	27,011		$	89,857		$	82,904
	Fee revenue	4,099			4,250			11,650			11,846
	Total revenue	33,553			31,261			101,507			94,750
	Gross profit	$	12,022		$	10,874		$	34,721		$	32,710

CAG:
	Revenue	$	988		$	9,377		$	6,137		$	26,105
	Fee revenue	5,384			5,513			15,216			17,951
	Total revenue	6,372			14,890			21,353			44,056
	Gross profit	$	5,892		$	7,759		$	16,628		$	25,255

Machinio:
	Revenue	$	—		$	—		$	—		$	—
	Fee revenue	1,776			1,451			5,332			3,816
	Total revenue	1,776			1,451			5,332			3,816
	Gross Profit	$	1,677		$	1,358		$	5,051		$	3,501

Corporate & Other:
	Revenue	$	—		$	—		$	—		$	469
	Fee revenue	—			—			—			9
	Total revenue	—			—			—			478
	Gross profit	$	—		$	—		$	—		$	113

Consolidated:
	Revenue	$	30,442		$	36,388		$	95,994		$	109,478
	Fee revenue	17,280			20,494			54,056			58,257
	Total revenue	47,722			56,882			150,050			167,735
	Gross profit	$	25,228		$	28,551		$	76,761		$	84,242

Reconciliation of revenue from segments to consolidated

The following table presents a reconciliation of gross profit used in the reportable segments to the Company's consolidated results:


		Three Months Ended June 30,									Nine Months Ended June 30,
(in thousands)				2020			2019			2020			2019
Reconciliation:
	Gross profit	$	25,228		$	28,551		$	76,761		$	84,242
	Operating expenses	24,711			31,081			85,505			94,777
	Other operating expenses	319			2,031			500			3,586
	Interest and other income, net	(224)			(454)			(733)			(1,224)
	Income (loss) before provision for income taxes	$	422		$	(4,107)		$	(8,511)		$	(12,897)

Organization (Details)	9 Months Ended
Organization (Details)	Jun. 30, 2020 category reportablesegment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of product categories offered (more than) \| category	500
Reportable segments (in segments) \| reportablesegment	4

Summary of Significant Accounting Policies - Narrative (Details)			3 Months Ended		9 Months Ended		57 Months Ended
	Oct. 10, 2019 USD ($)	Sep. 30, 2015 USD ($)	Jun. 30, 2020 USD ($) shares	Jun. 30, 2019 USD ($) contract	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($) contract	Jun. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)
Business Acquisition [Line Items]
Contract asset			$ 500,000		$ 500,000		$ 500,000	$ 300,000
Contract liability			3,000,000.0		3,000,000.0		3,000,000.0	3,000,000.0
Contract liability recognized as revenue					2,800,000
Interest income			224,000	$ 454,000	733,000	$ 1,224,000
Operating lease assets			9,263,000		9,263,000		9,263,000
Total lease liabilities			$ 10,035,000		$ 10,035,000		10,035,000
Antidilutive securities excluded from computation of earnings per share, amount (in shares) \| shares			3,841,385
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements \| shares			119,396
ASU 2016-02
Business Acquisition [Line Items]
Operating lease assets								11,300,000
Total lease liabilities								12,200,000
Supplier Concentration Risk \| Cost of Goods \| Contract With Commercial Client
Business Acquisition [Line Items]
Concentration risk (as a percentage)			60.40%	41.60%	54.50%	43.90%
Government Contracts Concentration Risk \| Scrap Contract
Business Acquisition [Line Items]
Number of contracts \| contract				1		1
Government Contracts Concentration Risk \| Sales Revenue \| Scrap Contract
Business Acquisition [Line Items]
Concentration risk (as a percentage)				8.20%		7.80%
Tanager Acquisitions Promissory Note
Business Acquisition [Line Items]
Receivable with imputed interest, face amount		$ 12,300,000
Receivable with imputed interest, term		5 years
Proceeds from collection of notes receivable	$ 2,500,000						6,600,000
Interest income	400,000
Prepayment discount	$ 500,000
Receivable with imputed interest, net amount			$ 5,700,000		$ 5,700,000		5,700,000
Tanager Acquisitions Promissory Note \| Other Assets
Business Acquisition [Line Items]
Receivable with imputed interest, net amount			4,200,000		4,200,000		4,200,000
Tanager Acquisitions Promissory Note \| Prepaid Expenses and Other Current Assets
Business Acquisition [Line Items]
Receivable with imputed interest, net amount			1,500,000		1,500,000		1,500,000
Prepaid Expenses and Other Current Assets
Business Acquisition [Line Items]
Contract costs			$ 600,000		$ 600,000		$ 600,000	$ 500,000

Summary of Significant Accounting Policies - Performance Obligations (Details) - Machinio - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01 $ in Millions	Jun. 30, 2020 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 3.0
Remaining performance obligation, period	1 year

Leases - Narrative (Details)	Jun. 30, 2020
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	5 years 2 months 12 days

Leases - Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
Leases - Lease Expense (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2020
Leases [Abstract]
Finance lease – lease asset amortization	$ 16	$ 53
Finance lease – interest on lease liabilities	6	18
Operating lease cost	1,310	3,990
Short-term lease cost	48	92
Variable lease cost	371	1,122
Sublease income	(61)	(200)
Total net lease cost	$ 1,690	$ 5,075

Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Jun. 30, 2020 USD ($)
Operating Leases
Remainder of 2020	$ 1,261
2021	4,020
2022	2,634
2023	1,886
2024	911
Thereafter	361
Total lease payments	11,073
Less: imputed interest	(1,038)
Total lease liabilities	10,035
Finance Leases
Remainder of 2020	14
Finance Lease, Liability, to be Paid, Year One	56
2022	55
2023	56
2024	56
Thereafter	105
Total lease payments	342
Less: imputed interest	(67)
Total lease liabilities	$ 275
Operating leases, weighted average remaining lease term	3 years 1 month 6 days
Finance leases, weighted average remaining lease term	6 years 1 month 6 days
Operating leases, weighted average discount rate	6.40%
Finance leases, weighted average discount rate	7.50%

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2020	Sep. 30, 2019
Lessee, Lease, Description [Line Items]
Cash paid for amounts included in operating lease liabilities	$ 3,642
Cash paid for amounts included in finance lease liabilities	26
Non-cash: lease liabilities arising from new operating lease assets obtained	12,188
Non-cash: lease liabilities arising from new finance lease assets obtained	10
Non-cash: adjustments to lease assets and liabilities	1,592
Total lease liabilities	$ 10,035
ASU 2016-02
Lessee, Lease, Description [Line Items]
Total lease liabilities		$ 12,200

Goodwill - Changes in Goodwill (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Jun. 30, 2020	Sep. 30, 2019
Goodwill
Balance at the beginning of the period	$ 59,467	$ 59,819
Translation adjustments	120	(352)
Balance at the end of the period	59,587	59,467
CAG
Goodwill
Balance at the beginning of the period	21,178	21,530
Translation adjustments	120	(352)
Balance at the end of the period	21,298	21,178
GovDeals
Goodwill
Balance at the beginning of the period	23,731	23,731
Translation adjustments	0	0
Balance at the end of the period	23,731	23,731
Machinio
Goodwill
Balance at the beginning of the period	14,558	14,558
Translation adjustments	0	0
Balance at the end of the period	$ 14,558	$ 14,558

Goodwill - Narrative (Details)	6 Months Ended
Goodwill - Narrative (Details)	Mar. 31, 2020 USD ($)
Segment Reporting Information [Line Items]
Goodwill impairment	$ 0
CAG
Segment Reporting Information [Line Items]
Percentage of fair value in excess of carrying value	21.00%
Machinio
Segment Reporting Information [Line Items]
Percentage of fair value in excess of carrying value	12.00%

Intangible Assets - Carrying Amount (Details) - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2020	Sep. 30, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 8,122	$ 8,076
Accumulated Amortization	(3,036)	(2,033)
Total	$ 5,086	6,043
Contract intangibles
Finite-Lived Intangible Assets [Line Items]
Useful Life (in years)	6 years
Gross Carrying Amount	$ 3,100	3,100
Accumulated Amortization	(1,033)	(646)
Total	$ 2,067	2,454
Technology
Finite-Lived Intangible Assets [Line Items]
Useful Life (in years)	5 years
Gross Carrying Amount	$ 2,700	2,700
Accumulated Amortization	(1,080)	(675)
Total	1,620	2,025
Patent and trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,322	2,276
Accumulated Amortization	(923)	(712)
Total	$ 1,399	$ 1,564
Minimum \| Patent and trademarks
Finite-Lived Intangible Assets [Line Items]
Useful Life (in years)	7 years
Maximum \| Patent and trademarks
Finite-Lived Intangible Assets [Line Items]
Useful Life (in years)	10 years

Intangible Assets - Amortization (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2019
Future expected amortization of intangible assets
Remainder of 2020	$ 335
2021	1,336
2022	1,327
2023	1,183
2024	645
2025 and thereafter	260
Total	$ 5,086	$ 6,043

Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended	9 Months Ended
Intangible Assets - Narrative (Details) - USD ($)	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020	Jun. 30, 2020	Jun. 30, 2019
Finite-Lived Intangible Assets, Net [Abstract]
Amortization of intangible assets	$ 300,000	$ 300,000		$ 1,000,000.0	$ 1,000,000.0
Long-lived asset impairment			$ 0

Income Taxes (Details)	9 Months Ended
Income Taxes (Details)	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Effective tax rate	8.40%	8.80%

Stockholders' Equity - Schedule of Stockholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended		12 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2019
Increase (Decrease) in Stockholders' Equity
Balance	$ 108,112	$ 112,437	$ 116,175	$ 124,465	$ 126,499	$ 129,654	$ 116,175	$ 129,654	$ 129,654
Cumulative adjustment related to the adoption of ASC 606	108,112	108,112	112,437	121,113	124,465	126,499	116,175	121,113	129,654
Net loss	213	(4,238)	(5,196)	(4,649)	(4,362)	(5,022)	(9,221)	(14,033)
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units	1	32	2	5	116	8
Stock compensation expense				1,550	2,011	1,556
Foreign currency translation				(258)	201	(427)
Forfeitures of restricted stock awards			0		0
Balance	$ 110,238	$ 108,112	$ 112,437	$ 121,113	$ 124,465	$ 126,499	$ 110,238	121,113	$ 116,175
Accounting Standards Update [Extensible List]						us-gaap:AccountingStandardsUpdate201409Member			us-gaap:AccountingStandardsUpdate201602Member
Cumulative adjustment related to the adoption of ASC 606
Increase (Decrease) in Stockholders' Equity
Balance						$ 730		730	$ 730
Cumulative adjustment related to the adoption of ASC 606						$ 730		$ 730	$ 730
Common Stock
Increase (Decrease) in Stockholders' Equity
Balance (in shares)	33,988,798	33,887,591	33,687,115	33,347,657	33,183,178	32,774,118	33,687,115	32,774,118	32,774,118
Balance	$ 34	$ 34	$ 34	$ 33	$ 33	$ 33	$ 34	$ 33	$ 33
Cumulative adjustment related to the adoption of ASC 606	$ 34	$ 34	$ 34	$ 33	$ 33	$ 33	$ 34	$ 33	$ 33
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units (in shares)	34,185	111,272	283,164	150,421	197,642	409,060
Forfeitures of restricted stock awards (in shares)					(33,163)
Balance (in shares)	34,021,773	33,988,798	33,887,591	33,498,078	33,347,657	33,183,178	34,021,773	33,498,078	33,687,115
Balance	$ 34	$ 34	$ 34	$ 33	$ 33	$ 33	$ 34	$ 33	$ 34
Additional Paid-in Capital
Increase (Decrease) in Stockholders' Equity
Balance	244,527	243,311	242,686	239,806	237,679	236,115	242,686	236,115	236,115
Cumulative adjustment related to the adoption of ASC 606	246,016	244,527	243,311	241,361	239,806	237,679	246,016	241,361	236,115
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units	1	32	2	5	116	8
Stock compensation expense				1,550	2,011	1,556
Balance	246,016	244,527	243,311	241,361	239,806	237,679	246,016	241,361	242,686
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity
Balance	(8,443)	(7,140)	(7,973)	(6,678)	(6,876)	(6,449)	(7,973)	(6,449)	(6,449)
Cumulative adjustment related to the adoption of ASC 606	(8,019)	(8,443)	(7,140)	(6,933)	(6,678)	(6,876)	(8,019)	(6,933)	(6,449)
Foreign currency translation				(255)	198	(427)
Balance	(8,019)	(8,443)	(7,140)	(6,933)	(6,678)	(6,876)	(8,019)	(6,933)	(7,973)
Accumulated Deficit
Increase (Decrease) in Stockholders' Equity
Balance	(128,006)	(123,768)	(118,572)	(108,696)	(104,337)	(100,045)	(118,572)	(100,045)	(100,045)
Cumulative adjustment related to the adoption of ASC 606	(127,793)	(128,006)	(123,768)	(113,348)	(108,696)	(104,337)	(127,793)	(113,348)	(100,045)
Net loss	213	(4,238)	(5,196)	(4,649)	(4,362)	(5,022)
Foreign currency translation				(3)	3	0
Balance	$ (127,793)	$ (128,006)	$ (123,768)	$ (113,348)	$ (108,696)	(104,337)	$ (127,793)	(113,348)	(118,572)
Accumulated Deficit \| Cumulative adjustment related to the adoption of ASC 606
Increase (Decrease) in Stockholders' Equity
Balance						730		730	730
Cumulative adjustment related to the adoption of ASC 606						$ 730		$ 730	$ 730

Stockholders' Equity - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020
Stockholders' Equity
Shares reserved for issuance (in shares)	19,100,000		16,300,000
Stock-based compensation expense (benefit)	$ 3.8
Shares repurchased (in shares)	0	0
Amount yet to be expended under the program	$ 10.1
Employee Stock Option and Restricted Stock
Stockholders' Equity
Stock-based compensation expense (benefit)	3.9
Cash-settled stock appreciation rights
Stockholders' Equity
Stock-based compensation expense (benefit)	$ (0.1)
Shares issued (in shares)	0
Exercised (in shares)	225,267
Cash paid to settle stock appreciation rights	$ 0.6
Canceled (in shares)	40,355
Outstanding (in shares)	167,960
Stock Option - Service Based
Stockholders' Equity
Shares and options vesting period	4 years
Dividend yield (as a percent)	0.00%
Expected volatility, minimum (as a percent)	46.50%
Expected volatility, maximum (as a percent)	51.00%
Risk free interest rate, minimum (as a percent)	0.50%
Risk free interest rate, maximum (as a percent)	1.50%
Stock Option - Service Based \| Minimum
Stockholders' Equity
Expected term	4 years 7 months 6 days
Stock Option - Service Based \| Maximum
Stockholders' Equity
Expected term	7 years 4 months 24 days
Restricted Stock - Service Based
Stockholders' Equity
Shares and options vesting period	4 years
Stock Option - Market-Based
Stockholders' Equity
Shares and options vesting period	4 years
Dividend yield (as a percent)	0.00%
Expected volatility, minimum (as a percent)	46.70%
Expected volatility, maximum (as a percent)	51.20%
Risk free interest rate, minimum (as a percent)	1.50%
Risk free interest rate, maximum (as a percent)	1.70%
Stock Option - Market-Based \| Minimum
Stockholders' Equity
Expected holding period (as a percent)	30.70%
Stock Option - Market-Based \| Maximum
Stockholders' Equity
Expected holding period (as a percent)	100.00%
Restricted Stock - Market Based
Stockholders' Equity
Shares and options vesting period	4 years
Dividend yield (as a percent)	0.00%
Expected volatility, minimum (as a percent)	46.70%
Expected volatility, maximum (as a percent)	51.20%
Risk free interest rate, minimum (as a percent)	1.50%
Risk free interest rate, maximum (as a percent)	1.70%
Restricted Stock - Market Based \| Minimum
Stockholders' Equity
Expected holding period (as a percent)	30.70%
Restricted Stock - Market Based \| Maximum
Stockholders' Equity
Expected holding period (as a percent)	100.00%

Stockholders' Equity - Grant Activity (Details)	9 Months Ended
Stockholders' Equity - Grant Activity (Details)	Jun. 30, 2020 $ / shares shares
Stock Option - Service Based
Stock Options granted:
Options granted (in shares) \| shares	415,719
Weighted average exercise price (USD per share)	$ 6.82
Weighted average grant date fair value (USD per share)	$ 2.72
Stock Option - Market-Based
Stock Options granted:
Options granted (in shares) \| shares	402,800
Weighted average exercise price (USD per share)	$ 6.82
Weighted average grant date fair value (USD per share)	$ 2.62
Restricted Stock - Service Based
RSUs & RSAs granted:
Restricted shares granted (in shares) \| shares	310,493
Weighted average grant date fair value (USD per share)	$ 5.92
Restricted Stock - Market Based
RSUs & RSAs granted:
Restricted shares granted (in shares) \| shares	173,600
Weighted average grant date fair value (USD per share)	$ 4.49

Fair Value Measurement - Change in Level 3 Assets (Details) - Recurring basis - Level 3 Assets $ in Thousands	9 Months Ended
	Jun. 30, 2020 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at September 30, 2019	$ 4,800
Change in fair value	200
Settlement	(5,000)
Balance at June 30, 2020	$ 0

Fair Value Measurement - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Sep. 30, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Certificates of deposits		$ 30,000
Money market funds	$ 30,000
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate	1.97%	1.97%
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate	2.50%	2.50%

Defined Benefit Pension Plan (Details) $ in Thousands	3 Months Ended		9 Months Ended
Defined Benefit Pension Plan (Details) $ in Thousands	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2020 GBP (£)
Retirement Benefits [Abstract]
Guarantee obligation value, maximum \| £					£ 10,000,000
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	119	136	336	446
Expected return on plan assets	(192)	(222)	(595)	(695)
Amortization of prior service cost	5	0	15	0
Total net periodic (benefit)	$ (68)	$ (86)	$ (244)	$ (249)

Business Realignment Expenses - Business Realignment Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2019
Restructuring Cost and Reserve [Line Items]
Business Realignment Expenses	$ 328	$ 1,373	$ 328	$ 1,728	$ 2,165
Employee severance and benefit costs
Restructuring Cost and Reserve [Line Items]
Business Realignment Expenses	328	1,373	328	1,543	1,980
Occupancy and other costs
Restructuring Cost and Reserve [Line Items]
Business Realignment Expenses	0	0	0	185	185
CAG \| Employee severance and benefit costs
Restructuring Cost and Reserve [Line Items]
Business Realignment Expenses	67	248	67	248	443
CAG \| Occupancy and other costs
Restructuring Cost and Reserve [Line Items]
Business Realignment Expenses	0	0	0	51	51
GovDeals \| Employee severance and benefit costs
Restructuring Cost and Reserve [Line Items]
Business Realignment Expenses	25		25		0
RSCG \| Employee severance and benefit costs
Restructuring Cost and Reserve [Line Items]
Business Realignment Expenses	64		64		0
Corporate & Other \| Employee severance and benefit costs
Restructuring Cost and Reserve [Line Items]
Business Realignment Expenses	172	1,125	172	1,295	1,537
Corporate & Other \| Occupancy and other costs
Restructuring Cost and Reserve [Line Items]
Business Realignment Expenses	$ 0	$ 0	$ 0	$ 134	$ 134

Business Realignment Expenses - Restructuring Related Costs (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2020	Jun. 30, 2019	Sep. 30, 2019
Restructuring Reserve [Roll Forward]
Beginning balance			$ 1,376	$ 821	$ 1,376	$ 1,376
Business Realignment Expenses	$ 328	$ 1,373		328	1,728	2,165
Cash Payments				(845)		(2,720)
Ending balance	135			135		$ 821
Accounting Standards Update [Extensible List]			us-gaap:AccountingStandardsUpdate201409Member			us-gaap:AccountingStandardsUpdate201602Member
Cumulative adjustment related to the adoption of ASC 606
Restructuring Reserve [Roll Forward]
Adoption of ASC 842						$ (169)
Employee severance and benefit costs
Restructuring Reserve [Roll Forward]
Beginning balance			$ 110	652	110	110
Business Realignment Expenses	328	1,373		328	1,543	1,980
Cash Payments				(845)		(1,438)
Ending balance	135			135		652
Employee severance and benefit costs \| Cumulative adjustment related to the adoption of ASC 606
Restructuring Reserve [Roll Forward]
Adoption of ASC 842						0
Occupancy and other costs
Restructuring Reserve [Roll Forward]
Beginning balance			1,266	169	1,266	1,266
Business Realignment Expenses	0	0		0	185	185
Cash Payments				0		(1,282)
Ending balance	0			0		169
Occupancy and other costs \| Cumulative adjustment related to the adoption of ASC 606
Restructuring Reserve [Roll Forward]
Adoption of ASC 842						(169)
Corporate & Other \| Employee severance and benefit costs
Restructuring Reserve [Roll Forward]
Beginning balance			21	238	21	21
Business Realignment Expenses	172	1,125		172	1,295	1,537
Cash Payments				(343)		(1,320)
Ending balance	67			67		238
Corporate & Other \| Employee severance and benefit costs \| Cumulative adjustment related to the adoption of ASC 606
Restructuring Reserve [Roll Forward]
Adoption of ASC 842						0
Corporate & Other \| Occupancy and other costs
Restructuring Reserve [Roll Forward]
Beginning balance			807	0	807	807
Business Realignment Expenses	0	0		0	134	134
Cash Payments				0		(941)
Ending balance	0			0		0
Corporate & Other \| Occupancy and other costs \| Cumulative adjustment related to the adoption of ASC 606
Restructuring Reserve [Roll Forward]
Adoption of ASC 842						0
CAG \| Employee severance and benefit costs
Restructuring Reserve [Roll Forward]
Beginning balance			89	414	89	89
Business Realignment Expenses	67	248		67	248	443
Cash Payments				(435)		(118)
Ending balance	46			46		414
CAG \| Employee severance and benefit costs \| Cumulative adjustment related to the adoption of ASC 606
Restructuring Reserve [Roll Forward]
Adoption of ASC 842						0
CAG \| Occupancy and other costs
Restructuring Reserve [Roll Forward]
Beginning balance			459	169	459	459
Business Realignment Expenses	0	$ 0		0	51	51
Cash Payments				0		(341)
Ending balance	0			0		169
CAG \| Occupancy and other costs \| Cumulative adjustment related to the adoption of ASC 606
Restructuring Reserve [Roll Forward]
Adoption of ASC 842						(169)
GovDeals \| Employee severance and benefit costs
Restructuring Reserve [Roll Forward]
Beginning balance			0	0	0	0
Business Realignment Expenses	25			25		0
Cash Payments				(15)		0
Ending balance	10			10		0
GovDeals \| Employee severance and benefit costs \| Cumulative adjustment related to the adoption of ASC 606
Restructuring Reserve [Roll Forward]
Adoption of ASC 842						0
RSCG \| Employee severance and benefit costs
Restructuring Reserve [Roll Forward]
Beginning balance			$ 0	0	$ 0	0
Business Realignment Expenses	64			64		0
Cash Payments				(52)		0
Ending balance	$ 12			$ 12		0
RSCG \| Employee severance and benefit costs \| Cumulative adjustment related to the adoption of ASC 606
Restructuring Reserve [Roll Forward]
Adoption of ASC 842						$ 0

Legal Proceedings and Other Contingencies (Details) $ in Millions	3 Months Ended
	Dec. 31, 2019 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Tax audit liability paid	$ 0.6

Segment Information - Narrative (Details) - reportablesegment	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenue, Major Customer [Line Items]
Reportable segments (in segments)			4
Non-US \| Sales Revenue \| Geographic Concentration Risk
Revenue, Major Customer [Line Items]
Concentration risk (as a percentage)	11.20%	13.60%	12.50%	14.90%

Segment Information - Reconciliation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Segment Reporting Information [Line Items]
Total revenue	$ 47,722	$ 56,882	$ 150,050	$ 167,735
Gross profit	25,228	28,551	76,761	84,242
Operating expenses	24,711	31,081	85,505	94,777
Other operating expenses	319	2,031	500	3,586
Interest and other income, net	(224)	(454)	(733)	(1,224)
Income (loss) before provision for income taxes	422	(4,107)	(8,511)	(12,897)
Operating Segments \| GovDeals
Segment Reporting Information [Line Items]
Total revenue	6,021	9,280	21,858	24,635
Gross profit	5,637	8,560	20,361	22,663
Operating Segments \| RSCG
Segment Reporting Information [Line Items]
Total revenue	33,553	31,261	101,507	94,750
Gross profit	12,022	10,874	34,721	32,710
Operating Segments \| CAG
Segment Reporting Information [Line Items]
Total revenue	6,372	14,890	21,353	44,056
Gross profit	5,892	7,759	16,628	25,255
Operating Segments \| Machinio
Segment Reporting Information [Line Items]
Total revenue	1,776	1,451	5,332	3,816
Gross profit	1,677	1,358	5,051	3,501
Corporate & Other
Segment Reporting Information [Line Items]
Total revenue	0	0	0	478
Gross profit	0	0	0	113
Revenue
Segment Reporting Information [Line Items]
Total revenue	30,442	36,388	95,994	109,478
Revenue \| Operating Segments \| GovDeals
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Revenue \| Operating Segments \| RSCG
Segment Reporting Information [Line Items]
Total revenue	29,454	27,011	89,857	82,904
Revenue \| Operating Segments \| CAG
Segment Reporting Information [Line Items]
Total revenue	988	9,377	6,137	26,105
Revenue \| Operating Segments \| Machinio
Segment Reporting Information [Line Items]
Total revenue	0	0	0	0
Revenue \| Corporate & Other
Segment Reporting Information [Line Items]
Total revenue	0	0	0	469
Fee revenue
Segment Reporting Information [Line Items]
Total revenue	17,280	20,494	54,056	58,257
Fee revenue \| Operating Segments \| GovDeals
Segment Reporting Information [Line Items]
Total revenue	6,021	9,280	21,858	24,635
Fee revenue \| Operating Segments \| RSCG
Segment Reporting Information [Line Items]
Total revenue	4,099	4,250	11,650	11,846
Fee revenue \| Operating Segments \| CAG
Segment Reporting Information [Line Items]
Total revenue	5,384	5,513	15,216	17,951
Fee revenue \| Operating Segments \| Machinio
Segment Reporting Information [Line Items]
Total revenue	1,776	1,451	5,332	3,816
Fee revenue \| Corporate & Other
Segment Reporting Information [Line Items]
Total revenue	$ 0	$ 0	$ 0	$ 9