0001235468-20-000206 | 10-K | XBRL Viewer

Print Document View Excel Document

Cover Page - USD ($) $ in Millions	12 Months Ended
Cover Page - USD ($) $ in Millions	Sep. 30, 2020	Dec. 04, 2020	Mar. 31, 2020
Cover [Abstract]
Entity Central Index Key	0001235468
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--09-30
Document Type	10-K
Document Annual Report	true
Document Period End Date	Sep. 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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 101.9
Entity Common Stock, Shares Outstanding		34,148,936
Documents Incorporated by Reference	Portions of the registrant's Proxy Statement relating to its 2021 Annual Stockholders' Meeting, to be filed subsequently, are incorporated by reference into Part III (Items 10, 11, 12, 13 and 14) of this Form 10-K.

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 30, 2019
Current assets:
Cash and cash equivalents	$ 76,036	$ 36,497
Short-term investments	0	30,000
Accounts receivable, net of allowance for doubtful accounts of $389 and $291	5,322	6,704
Inventory, net	5,607	5,843
Prepaid taxes and tax refund receivable	1,652	2,531
Prepaid expenses and other current assets	5,962	8,350
Total current assets	94,579	89,925
Property and equipment, net	17,843	18,846
Operating lease assets	10,561
Intangible assets, net	4,758	6,043
Goodwill	59,839	59,467
Deferred tax assets	806	866
Other assets	8,248	12,136
Total assets	196,634	187,283
Current liabilities:
Accounts payable	21,957	15,051
Accrued expenses and other current liabilities	19,124	28,794
Current portion of operating lease liabilities	3,818
Distributions payable	0	1,675
Deferred revenue	3,255	3,049
Payables to sellers	26,170	20,253
Total current liabilities	74,324	68,822
Operating lease liabilities	7,499
Deferred taxes and other long-term liabilities	2,996	2,286
Total liabilities	84,819	71,108
Commitments and contingencies (Notes 9 and 16)
Stockholders' equity:
Common stock, $0.001 par value; 120,000,000 shares authorized; 34,082,406 shares issued and outstanding at September 30, 2020; 33,687,115 shares issued and outstanding at September 30, 2019	34	34
Additional paid-in capital	247,892	242,686
Treasury stock, at cost; 547,508 shares at September 30, 2020 and — shares at September 30, 2019	(3,983)
Accumulated other comprehensive loss	(9,782)	(7,973)
Accumulated deficit	(122,346)	(118,572)
Total stockholders' equity	111,815	116,175
Total liabilities and stockholders' equity	$ 196,634	$ 187,283

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 30, 2019
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts (in dollars)	$ 389	$ 291
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)	34,082,406	33,687,115
Common stock, shares outstanding (in shares)	34,082,406	33,687,115
Treasury stock (in shares)	547,508	0

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Total revenue	$ 205,940	$ 226,525	$ 224,514
Costs and expenses from operations:
Cost of goods sold (excludes depreciation and amortization)	96,016	102,414	100,087
Seller distributions	0	10,831	14,715
Technology and operations	42,158	51,594	60,786
Sales and marketing	35,629	36,703	33,703
General and administrative	29,166	34,249	30,493
Depreciation and amortization	6,290	5,091	4,599
Acquisition costs and impairment of goodwill and long-lived assets	5	102	467
Other operating expenses	573	5,049	1,392
Total costs and expenses	209,837	246,033	246,242
Loss from operations	(3,897)	(19,508)	(21,728)
Interest and other income, net	(924)	(1,448)	(785)
Loss before provision for income taxes	(2,973)	(18,060)	(20,943)
Provision (benefit) for income taxes	801	1,200	(9,328)
Net loss	$ (3,774)	$ (19,260)	$ (11,615)
Basic and diluted loss per common share (in dollars per share)	$ (0.11)	$ (0.58)	$ (0.36)
Basic and diluted weighted average shares outstanding (in shares)	33,612,263	33,062,976	32,095,491
Revenue
Total revenue	$ 127,580	$ 147,889	$ 149,677
Fee revenue
Total revenue	$ 78,360	$ 78,636	$ 74,837

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net loss	$ (3,774)	$ (19,260)	$ (11,615)
Other comprehensive (loss) income:
Defined benefit pension plan—unrecognized amounts, net of taxes	(2,293)	(540)	773
Foreign currency translation	484	(984)	(791)
Other comprehensive (loss) income, net of taxes	(1,809)	(1,524)	(18)
Comprehensive loss	$ (5,583)	$ (20,784)	$ (11,633)

- Definition

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1448-109256

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1377-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121326447&loc=SL5780133-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

+ Details

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	Additional Paid-in Capital Cumulative Effect, Period of Adoption, Adjustment	Treasury Stock	Accumulated Other Comprehensive Loss	Accumulated Deficit	Accumulated Deficit Cumulative Effect, Period of Adoption, Adjustment
Balance (in shares) at Sep. 30, 2017			31,503,349
Balance at Sep. 30, 2017	$ 132,636	$ (107)	$ 29	$ 227,264	$ 100		$ (6,431)	$ (88,226)	$ (207)
Increase (Decrease) in Stockholders' Equity
Exercise of common stock options, grants of restricted stock awards, and vesting of restricted stock units (in shares)			973,755
Exercise of common stock options, grants of restricted stock awards, and vesting of restricted stock units	404		$ 1	403
Compensation expense and incremental tax benefit from grants of common stock options and restricted stock	6,346			6,346
Issuance of common stock for acquisition activity (in shares)			297,014
Issuance of common stock for acquisition activity	2,005		$ 3	2,002
Net loss	(11,615)							(11,615)
Defined benefit pension plan—unrecognized amounts, net of taxes	773						773
Foreign currency translation and other	(788)						(791)	3
Balance (in shares) at Sep. 30, 2018			32,774,118
Balance at Sep. 30, 2018	$ 129,654	$ 730	$ 33	236,115			(6,449)	(100,045)	$ 730
Increase (Decrease) in Stockholders' Equity
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201409Member
Exercise of common stock options, grants of restricted stock awards, and vesting of restricted stock units (in shares)			953,066
Exercise of common stock options, grants of restricted stock awards, and vesting of restricted stock units	$ 590		$ 1	589
Tax settlements associated with stock compensation expense (in shares)			(6,906)
Taxes paid associated with net settlement of stock compensation awards	(44)			(44)
Forfeiture of restricted stock awards (in shares)			(33,163)
Stock compensation expense	6,026			6,026
Net loss	(19,260)							(19,260)
Defined benefit pension plan—unrecognized amounts, net of taxes	(540)						(540)
Foreign currency translation and other	(981)						(984)	3
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
Common stock repurchases (in shares)						(547,508)
Common stock repurchases	(3,983)					$ (3,983)
Exercise of common stock options, grants of restricted stock awards, and vesting of restricted stock units (in shares)			494,683
Exercise of common stock options, grants of restricted stock awards, and vesting of restricted stock units	111			111
Tax settlements associated with stock compensation expense (in shares)			(84,392)
Taxes paid associated with net settlement of stock compensation awards	(594)			(594)
Forfeiture of restricted stock awards (in shares)			(15,000)
Forfeiture of restricted stock awards	0
Stock compensation expense	5,689			5,689
Net loss	(3,774)							(3,774)
Defined benefit pension plan—unrecognized amounts, net of taxes	(2,293)						(2,293)
Foreign currency translation and other	484						484
Balance (in shares) at Sep. 30, 2020			34,082,406			547,508
Balance at Sep. 30, 2020	$ 111,815		$ 34	$ 247,892		$ 3,983	$ (9,782)	$ (122,346)
Increase (Decrease) in Stockholders' Equity
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201602Member

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Operating activities
Net loss	$ (3,774)	$ (19,260)	$ (11,615)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	6,290	5,091	4,599
Change in fair value of earnout liability	200	3,500	100
Stock compensation expense	5,660	6,508	6,597
Inventory adjustment to net realizable value	300	331	2,494
Provision for doubtful accounts	200	178	199
Deferred tax expense (benefit)	106	136	(10,945)
Change in fair value of financial instruments	0	0	90
Gain on disposal of property and equipment	(29)	(15)	(480)
Changes in operating assets and liabilities:
Accounts receivable	1,182	(2,012)	6,582
Inventory	(64)	3,948	8,120
Prepaid taxes and tax refund receivable	878	(811)	739
Prepaid expenses and other assets	1,375	1,554	(689)
Operating lease assets and liabilities	(187)	0	0
Accounts payable	6,907	1,191	670
Accrued expenses and other current liabilities	(8,198)	1,999	(9,576)
Distributions payable	(1,675)	(453)	(953)
Deferred revenue	207	906	743
Payables to sellers	5,917	(8,716)	4,586
Other liabilities	1,183	(317)	(642)
Net cash provided by (used in) operating activities	16,478	(6,242)	619
Investing activities
Increase in intangibles	(62)	(23)	(35)
Purchases of property and equipment, including capitalized software	(4,186)	(5,938)	(4,174)
Proceeds from note receivable	2,824	0	3,000
Proceeds from sale of property and equipment	71	247	828
Purchase of short-term investments	(25,000)	(70,000)	(20,000)
Maturities of short-term investments	55,000	60,000	0
Cash paid for business acquisition, net of cash acquired	0	0	(16,673)
Net cash provided by (used in) investing activities	28,647	(15,714)	(37,054)
Financing activities
Payments of the principal portion of finance lease liabilities	(34)	0	0
Proceeds from exercise of common stock options (net of tax)	111	590	404
Taxes paid associated with net settlement of stock compensation awards	(594)	(44)	0
Payment of earnout liability related to business acquisition	(1,200)	0	0
Common stock repurchases	(3,983)	0	0
Net cash (used in) provided by financing activities	(5,700)	546	404
Effect of exchange rate differences on cash and cash equivalents	114	(541)	131
Net increase (decrease) in cash and cash equivalents	39,539	(21,951)	(35,900)
Cash and cash equivalents at beginning of year	36,497	58,448	94,348
Cash and cash equivalents at end of year	76,036	36,497	58,448
Supplemental disclosure of cash flow information
Earnout liability for acquisition activity	0	0	1,200
Issuance of common stock for acquisition activity	0	0	2,005
Cash paid (received for) for income taxes, net of refunds	$ (1,519)	$ 1,008	$ 916

Organization	12 Months Ended
Organization	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Liquidity Services, Inc. (the Company) operates a network of e-commerce 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 idle 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, heavy equipment, fleet and transportation equipment and specialty equipment. The Company’s marketplaces are: www.allsurplus.com, www.liquidation.com, www.govdeals.com, www.networkintl.com, www.secondipity.com, 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: Retail Supply Chain Group (RSCG), Capital Assets Group (CAG), GovDeals and Machinio. See Note 17 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

12 Months Ended

Sep. 30, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

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 year ended September 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 from those estimates.

Principles of Consolidation and Basis of Presentation

The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

The accompanying consolidated financial statements have been prepared pursuant to the rules and regulations of the SEC. In addition, in the opinion of management, all adjustments (consisting of normal, recurring accruals) considered necessary for a fair presentation of the results for the periods presented have been included.

Business Combinations

The Company recognizes all of the assets acquired, liabilities assumed, contractual contingencies, and contingent consideration at their fair value on the acquisition date. Acquisition-related costs are recognized separately from the acquisition and expensed as incurred. Restructuring costs incurred in periods subsequent to the acquisition date are expensed when incurred. Subsequent changes to the purchase price (i.e., working capital adjustments) or other fair value adjustments determined during the measurement period are recorded as an adjustment to goodwill, with the exception of contingent consideration, which is recognized in the statement of operations in the period it is modified. All subsequent changes to a valuation allowance or uncertain tax position that relate to the acquired company and existed at the acquisition date that occur both within the measurement period and as a result of facts and circumstances that existed at the acquisition date are recognized as an adjustment to goodwill. All other changes in valuation allowances are recognized as a reduction or increase to income tax expense or as a direct adjustment to additional paid-in capital as required.

Cash and Cash Equivalents

The Company considers all highly liquid securities purchased with an initial maturity of three months or less to be cash equivalents.

Short-term Investments

The Company's short-term investments at September 30, 2019 consisted of various certificates of deposit with maturities of six months or less with interest rates between 1.97% and 2.50%.

Accounts Receivable

Accounts receivable are recorded at the invoiced amount and are non-interest bearing. The Company maintains an allowance for doubtful accounts to reserve for potentially uncollectible receivables. Allowances are based on management’s judgment, which considers historical bad debt experience, a specific review of all significant outstanding invoices, and an assessment of general economic conditions.

Inventory

Inventory consists of property obtained for resale, generally through the online auction process, and is stated at the lower of cost or net realizable value. Cost is generally determined using the specific identification method. Costs associated with our warehouse operations are expensed as incurred and included within Technology and operations expenses in the Statements of Operations. Charges for unsellable inventory, as well as for inventory written down to net realizable value, are included in Cost of goods sold in the period in which they have been determined to occur. As of September 30, 2020 and September 30, 2019, the Company's inventory reflects write-downs of $0.3 million and $0.3 million, respectively.

Prepaid expenses and other current assets

Prepaid expenses and other current assets includes the short-term portion of a promissory note (described in "Other Assets"), as well as other miscellaneous prepaid expenses.

Other Assets

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 of 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 initially owed to the Company in conjunction with the sale of the Jacobs Trading business, $6.9 million of principal has been repaid as of September 30, 2020. Of the $5.4 million in principal outstanding at September 30, 2020, $3.8 million was recorded in Other assets, and $1.6 million in Prepaid expenses and other current assets based on the scheduled repayment dates.

Property and Equipment

Property and equipment are recorded at cost, and depreciated or amortized on a straight-line basis over the following estimated useful lives:


Computers and purchased software						One to five years
Office/operational equipment						Three to five years
Furniture and fixtures						Five to seven years
Internally developed software for internal-use						Five years (1)
Leasehold improvements						Shorter of lease term or useful life
Buildings						Thirty-nine years
Vehicles						Five years
Land						Not depreciated

(1) As part of our reassessment of the estimated useful lives of our property and equipment, our estimate of the useful life of internally developed software for internal-use changed from seven years to five years in the fourth quarter of the year ended September 30, 2019. This change in estimate was applied prospectively and it increased amortization expense by $0.1 million for the year ended September 30, 2019 and $0.7 million for the year ended September 30, 2020.

Leases

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.

Intangible Assets

Intangible assets consist of contract intangibles, brand and technology, and patent and trademarks. Intangible assets are amortized using the straight-line method over their estimated useful lives.

Impairment of Long-Lived Assets

Long-lived assets, including definite-lived intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable. If an impairment indicator is present, the Company evaluates recoverability by comparing the carrying amount of the assets to future undiscounted net cash flows expected to be generated by the assets. If the assets are impaired, the impairment recognized is measured by the amount by which the carrying amount exceeds the estimated fair value of the assets. No impairment charges were recorded during the years ended September 30, 2020 and 2019 and 2018.

Goodwill

The Company reviews goodwill for impairment annually on July 1, or more frequently if events or circumstances indicate impairment may exist. Examples of such events or circumstances could include a significant change in business climate or the loss of a significant contract.

In evaluating goodwill for impairment, the Company may first assess qualitative factors to determine whether it is more likely than not (that is, a likelihood of more than 50 percent) that the fair value of a reporting unit is less than its carrying amount. If the Company concludes that it is not more likely than not that the fair value of the reporting unit is less than its carrying value, no further testing of goodwill assigned to the reporting unit is required. If the Company concludes that it is more likely than not that the fair value of a reporting unit is less than its carrying value, the Company applies a fair value-based test.

The Company generally tests its goodwill for impairment using a fair-value based test, where the Company determines the fair value of each of its reporting units and compares that amount to the carrying amount of the respective reporting units, including goodwill. If the fair value of the reporting unit exceeds its carrying amount, no impairment loss is recognized. If, instead, the carrying value of the reporting unit exceeds its fair value, an impairment loss is recognized in the amount of the excess carrying value. Under previous accounting guidance applied to goodwill impairment tests performed in fiscal 2018 and prior, a second step was required. The second step involved comparing the carrying amount of a reporting unit's goodwill to the implied fair value of its goodwill, and recognizing an impairment loss in the amount that the carrying amount of goodwill exceeded the implied fair value of goodwill.

Deferred Revenue

Deferred revenue is primarily derived from Machinio and MachineryHost subscriptions that range from one to forty months. Subscription fees are recognized ratably over the term of the agreements.

Short-Term Borrowings

The Company may enter into collateralized short-term borrowing agreements with banks to facilitate certain international transactions conducted under the purchase model. During the year ended September 30, 2019, the Company borrowed and fully repaid its borrowings under such arrangements. No short-term debt was outstanding as of September 30, 2020 and 2019.

Revenue Recognition

In the Consolidated Statements of Operations, revenue from the resale of inventory that the Company purchases from sellers is recognized within Revenue. Revenue from the sale of inventory that the Company sells on a consignment basis, and other non-consignment fee revenue, which includes Machinio's sales listing subscription service, service revenue from the Surplus Contract (defined below), as well as other services including returns management and refurbishment of assets, is recognized within Fee Revenue.

The Company adopted the Financial Accounting Standard Board's (FASB) Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers (ASC 606) effective October 1, 2018.

The Company recognizes revenue when or as performance obligations are satisfied and control is transferred to the customer. Revenue is recognized in the amount that reflects the consideration to which the Company expects to be entitled.

Revenue is also evaluated to determine whether the Company should report the gross proceeds as revenue, when the Company acts as the principal in the arrangement, or the Company should report its revenue on a net basis, when the Company acts as an agent. Specifically, when other parties are involved in providing goods or services to a customer, the Company must determine whether the nature of its promise is a performance obligation to provide the specified goods or services itself, or to arrange for another party to provide them. The Company evaluates the following factors to determine if it is acting as a principal: (1) whether the Company is primarily responsible for fulfilling the promise to provide the asset or assets; (2) whether the Company has inventory risk of the asset or assets before they are transferred to the buyer; and (3) whether the Company has discretion in establishing the price for the asset or assets.

The Company enters into contracts with buyers and sellers. The Company has master agreements with some sellers pertaining to the sale of a flow of surplus assets over the term of the master agreement; however, a revenue contract for accounting purposes exists when the Company agrees to sell a specific asset or assets. When acting as a principal (a “purchase” arrangement), the Company purchases an asset or assets from a seller and then the Company seeks to sell the asset or assets to a buyer. The Company recognizes as Revenue the gross proceeds from the sale, including buyer's premiums. In purchase arrangements, the contract with the seller is not a revenue contract in the scope of the revenue recognition guidance; rather, it is a purchase of inventory. When the Company is acting as an agent (a “consignment” arrangement), its performance obligation is

to arrange for the seller to sell an asset or assets to the buyer directly. The Company recognizes Fee Revenue based on the sales commissions that are paid to the Company by the sellers for utilizing the Company's services; in this situation, sales commissions represent a percentage of the gross proceeds from the sale that the seller pays to the Company upon completion of the transaction.

In both purchase and consignment contracts, the Company sometimes provides distinct services to the seller, such as returns management, refurbishment of assets, or valuation services. These services are distinct because the seller could benefit from the services separately from the asset sale, and as such they are treated as separate performance obligations. Some services provided to sellers are not distinct, like providing access to the Company’s e-commerce marketplaces or promoting the asset or assets for sale, because they could not benefit the seller separately from the sale of the asset or assets.

The consideration received from buyers and sellers includes (1) buyer’s premiums, (2) seller’s commissions, and (3) fees for services, including reimbursed expenses. Consideration is variable based on units, final auction prices, or other factors, until the buyer’s purchase of the asset or assets is complete, or the service has been provided. Recognition of variable consideration that is based on the results of auctions or purchases by buyers is constrained until those transactions have been finalized. The Company estimates and recognizes amounts related to sales returns, discounts or rebates promised to customers, and reimbursed expenses, however, those estimates are not significant relative to the Company's consolidated revenues. The total transaction price is allocated to each distinct performance obligation and revenue is recognized when or as the performance obligation is satisfied. Variable consideration is allocated to individual performance obligations when the variable consideration is related to satisfying that performance obligation and consistent with the allocation objective. The Company's revenue is generally recorded subsequent to receipt of payment authorization, utilizing credit cards, wire transfers and PayPal, an Internet-based payment system, as methods of payments. Goods are generally not shipped before payment is received. For certain transactions, payment is due upon invoice and the payment terms vary depending on the business segment.

The Company collects and remits sales taxes on merchandise that it purchases and sells and has elected the practical expedient to report such amounts under the net method in its Consolidated Statements of Operations. The Company also provides shipping and handling services in some arrangements and has elected the practical expedient to treat those activities as a fulfillment cost. If the Company is acting as a principal for the combined obligation, amounts received from customers for shipping are recognized as Revenue, and amounts paid for shipping are recognized as costs of goods sold. If the Company is acting as an agent for the combined obligation, shipping revenue and costs will be netted and recognized within costs of goods sold.

The Company’s performance obligations are satisfied when control of the asset is transferred to the buyer or when the service is completed. The Company determines when control has transferred by evaluating the following five indicators: (1) whether the Company has a present right to payment for the asset or assets; (2) whether the buyer has legal title to the asset; (3) whether the buyer has physical possession of the asset or assets; (4) whether the buyer has the significant risks and rewards of ownership; and (5) whether the buyer has accepted the asset or assets.

For the Company's Machinio business segment, the performance obligation is satisfied over time as the Company provides the services over the term of the subscription. At September 30, 2020, the Machinio business segment had a remaining performance obligation of $3.3 million; the Company expects to recognize the substantial majority of that amount as Fee Revenue over the next 12 months.

Cost of Goods Sold

Cost of goods sold includes the costs of purchasing inventory, transporting property for auction, shipping and handling costs, and credit card transaction fees. For transactions where the Company resells inventory that was purchased from sellers, the cost of goods sold includes the cost of that inventory, generally using specific identification. There are no inventory costs associated with consignment sales.

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 $0.3 million as of September 30, 2019 and $0.4 million as of September 30, 2020 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 September 30, 2019, and $3.3 million as of September 30, 2020 and is included in the line item

Deferred revenue on the consolidated balance sheets. Of the September 30, 2019 contract liability balance, $3.0 million was earned as Fee Revenue during the year ended September 30, 2020.

Contract Costs

Contract costs relate to sales commissions paid on consignment contracts that are capitalized. Contract costs are amortized over the expected life of the customer contract. The contract cost balance was $0.7 million as of September 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 year ended September 30, 2020.

Risk Associated with Certain Concentrations

For the majority of buyers that receive goods before payment to the Company is made, credit evaluations are performed. However, for the remaining buyers, goods are not shipped before payment is made, and as a result the Company is not subject to significant collection risk from those buyers.

For consignment sales transactions, funds are typically collected from buyers and are held by the Company on the sellers' behalf. The funds are included in Cash and cash equivalents in the consolidated financial statements. The Company releases the funds to the seller, less the Company's commission and other fees due, after the buyer has accepted the goods or within 30 days, depending on the state where the buyer and seller conduct business. The amount of cash held on behalf of the sellers is recorded as Payables to sellers in the accompanying Consolidated Balance Sheets.

Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of Cash and cash equivalents in banks over FDIC limits, Short-term investments, and Accounts receivable. The Company deposits its Cash and cash equivalents with and acquires Short-term investments from financial institutions that the Company considers to be of high credit quality.

Additionally, the Company has multiple vendor contracts with Amazon.com, Inc. under which it acquires and sells commercial merchandise. The property purchased under this contract represented 55.1%, 43.6%, and 33.7% of cost of goods sold for the years ended September 30, 2020, 2019, and 2018, respectively. This contract is included within the RSCG segment.

During the years ended September 30, 2019 and 2018, the Company had two material vendor contracts with the Department of Defense (DoD) under which it acquired, managed and sold government property. Revenue from the sale of property acquired, as well as provision of services, under the Surplus Contract accounted for 0% and 12.4% of the Company's consolidated revenue for the years ended September 30, 2019 and 2018, respectively. Revenue from the sale of property acquired under the Scrap Contract accounted for 7.4% and 10.2% of the Company's total revenue for the years ended September 30, 2019 and 2018, respectively. These contracts are included within the Company's CAG segment. See Note 3, Significant Contracts, for further information related to the Scrap and Surplus Contracts.

Income Taxes

The Company accounts for income taxes using an asset and liability approach for measuring deferred taxes based on temporary differences between the financial statement and income tax bases of assets and liabilities existing at each balance sheet date using enacted tax rates for the years in which the taxes are expected to be paid or recovered. The Company recognizes deferred tax assets to the extent that it believes that these assets are more likely than not to be realized. In making such determination, the Company considers all available positive and negative evidence to estimate whether future taxable income will be generated to permit use of the existing deferred tax asset. The resulting net tax asset reflects management's estimate of the amount that will be realized.

The Company applies the authoritative guidance related to uncertainty in income taxes. Accounting Standards Codification (ASC) 740 states that a benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, on the basis of technical merits. During the year ended September 30, 2020, the Company recorded a benefit of $0.2 million for the reversal of an unrecognized tax benefit related to foreign operations. The Company’s policy is to recognize interest and penalties in the period in which they occur in the income tax provision. The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction, various state and local jurisdictions and in foreign jurisdictions including, among others, Canada and the U.K.

Stock-Based Compensation

The Company has incentive plans under which stock options, restricted stock units, restricted stock awards, and stock appreciation rights are issued. The awards issued can contain service conditions, performance conditions based upon Company financial results, and/or market conditions based upon changes in the Company's stock price.

Service- and performance-based stock awards are measured at fair value on their grant date. Stock options and stock appreciation rights are measured at fair value using the Black-Scholes option-pricing model. However, because the stock appreciation rights are cash settled, they are also measured at fair value in each reporting period. The Black-Scholes option-pricing model includes assumptions for the expected term, volatility, and dividend yield, each of which are determined in reference to the Company's historical results. Restricted stock units and restricted stock awards are measured at fair value using the closing price of the Company's stock on the grant date. For service-based stock awards, the Company recognizes expense on a straight-line basis over the service period, which is generally a period one to four years. For performance-based stock awards, the Company recognizes expense on a straight-line basis over the derived service period expected to be required to achieve the performance condition. The Company records a cumulative adjustment to compensation expense for performance-based awards if there is a change in determination of whether it is probable that the performance condition will be achieved.

Market-based stock awards are measured at fair value on their grant date using a Monte Carlo simulation. The Monte Carlo simulation includes assumptions for the expected term, volatility, and dividend yield, each of which are determined in reference to the Company's historical results. For market-based stock option and restricted stock awards, the Company recognizes expense on a straight-line basis over the derived service period determined by the Monte Carlo simulation, for each stock price target within the award. The Company accelerates expense when a stock price target is achieved prior to the derived service period. The Company, however, does not reverse expense recognized if the stock price target(s) are not ultimately achieved, as required by equity accounting for market-based awards. For market-based stock appreciation rights, because they are cash settled, they are measured at fair value in each reporting period. The Company recognized expense on a straight-line basis over the derived service period determined by the Monte Carlo simulation in each reporting period, for each stock price target within the award. The Company accelerates expense when a stock price target is achieved prior to the derived service period, and reverses expense recognized if the stock price target(s) are not ultimately achieved, as required by liability accounting for market-based awards.

The Company recognizes the impact of forfeitures in the period they occur. This policy was adopted in the first quarter of 2018 due to the adoption of ASU 2016-09, which resulted in a $0.2 million retained earnings adjustment as of October 1, 2017.

Compensation expense from the stock awards is included in the same lines on the consolidated statements of operations as the cash compensation to the employees receiving the stock awards.

Excess tax benefits realized from stock awards are reported as cash flows from operating activities on the consolidated statement of cash flows.

Advertising Costs

Advertising expenditures are expensed as incurred. Advertising costs charged to expense were $2.6 million, $2.7 million and $3.6 million for the years ended September 30, 2020, 2019, and 2018, respectively.

Treasury Stock

Treasury stock is presented at cost, including any applicable commissions and fees, as a reduction of stockholders’ equity in the consolidated balance sheets and statements of equity. Treasury stock held by us may be retired or reissued in the future.

Foreign Currency Translation

The functional currency of the Company's foreign subsidiaries is primarily the local currency. The translation of the subsidiary's financial statements into U.S. dollars is performed for balance sheet accounts using exchange rates in effect at the balance sheet date and for revenue and expense accounts using an average exchange rate during the period. The resulting translation adjustments are recognized in Accumulated other comprehensive loss, a separate component of stockholders' equity. Realized and unrealized foreign currency transaction gains and losses are included in Interest and other income, net in the Consolidated Statements of Operations.

Accumulated Other Comprehensive Loss

The following table shows the changes in accumulated other comprehensive income loss, net of taxes (in thousands):


	Foreign Currency Translation Adjustments		Net Change Pension and Other Postretirement Benefit Plans		Accumulated Other Comprehensive Loss
Balance at September 30, 2017	$	(6,794)	$	363	$	(6,431)
Current-period other comprehensive (loss) income	(791)		773		(18)
Balance at September 30, 2018	(7,585)		1,136		(6,449)
Current-period other comprehensive (loss) income	(984)		(540)		(1,524)
Balance at September 30, 2019	(8,569)		596		(7,973)
Current-period other comprehensive (loss) income	484		(2,293)		(1,809)
Balance at September 30, 2020	$	(8,085)	$	(1,697)	$	(9,782)

Net Loss Per Share (EPS)

The Company calculates basic EPS by dividing net loss by the weighted-average number of common shares outstanding during the reporting period, excluding unvested restricted stock awards.

The Company calculates diluted EPS giving effect to potentially dilutive common shares using the treasury stock method. The Company's potentially dilutive common shares include stock options, restricted stock units, and restricted stock awards. For such awards that have performance- or market-conditions, they are considered only when those performance- or market-conditions have been satisfied as of the reporting date. However, in periods of a net loss, the Company's diluted EPS will equal its basic EPS, as all its potential common shares are anti-dilutive in that case.

For the years ended September 30, 2020, 2019 and 2018, the Company operated at a net loss, and basic and diluted weighted average common shares were the same because the inclusion of potentially dilutive common shares would have been anti-dilutive. See Note 12 for outstanding stock options, restricted stock units, and restricted stock awards, all of which are anti-dilutive as of September 30, 2020.

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 6 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 year ended September 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, Cash equivalents, 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 does not expect that the adoption of this ASU will have an immediate material impact on its consolidated financial statements. Material impacts could be experienced if and when the Company implements cloud computing arrangements in the future.

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.

DoD Contracts with DLA Disposition Services	12 Months Ended
DoD Contracts with DLA Disposition Services	Sep. 30, 2020
Contractors [Abstract]
DoD Contracts with DLA Disposition Services	DoD Contracts with DLA Disposition Services Historically, the Company had two material vendor contracts with the DoD, the Scrap Contract and the Surplus Contract. Under the Scrap Contract, which concluded on September 30, 2019, the Company was the remarketer of all DoD non-electronic scrap turned into the Defense Logistics Agency (DLA) available for sale within the United States, Puerto Rico, and Guam. The Company paid a revenue-sharing payment to the DLA under this contract equal to 64.5% of the gross resale proceeds of the scrap property, and the Company bore all of the costs for the sorting, merchandising and sale of the property. Revenue from the Scrap Contract accounted for 7.4% and 10.2% of the Company's consolidated revenue for the years ended September 30, 2019 and 2018, respectively. Under the Surplus Contract, which concluded on June 30, 2018, the Company managed and sold usable DoD surplus personal property turned into the DLA. Surplus property generally consisted of items the DoD determined were no longer needed, and not claimed for reuse by any federal agency, such as consumer electronics, industrial equipment, office supplies, scientific and medical equipment, aircraft parts, clothing and textiles. The Surplus Contract required the Company to purchase all usable surplus property offered to the Company by the DoD at 4.35% of the DoD's original acquisition value. The Company retained 100% of the profits from the resale of the property and bore all of the costs for the merchandising and sale of the property. Revenue from the Surplus Contract accounted for 12.4% of the Company's consolidated revenue for the year ended September 30, 2018.

Acquisition

12 Months Ended

Sep. 30, 2020

Business Combinations [Abstract]

Acquisition

Machinio

On July 10, 2018, the Company acquired 100% of the issued and outstanding capital stock of Machinio. Machinio operates a global online platform for listing used equipment for sale in the construction, machine tool, transportation, printing and agriculture sectors. The reason for the acquisition was to expand the services and channels the Company offers to its sellers, and to grow the Company's network of buyers. For segment reporting purposes, Machinio is a separate reportable segment.

The consideration paid to the Sellers for the acquisition of Machinio equity was $19.9 million in cash, earn-out consideration, and Company equity, including the acquisition of Machinio cash of $1.5 million at the closing and a closing working capital purchase price adjustment (for a net cash consideration of $16.7 million). Shares of restricted stock of the Company issued in a private placement to Machinio executives in exchange for their shares of Machinio stock valued at $2.0 million were included in the consideration. In addition, the Machinio sellers are eligible to receive earn-out consideration up to $5.0 million, based upon Machinio's adjusted EBITDA performance for the calendar year ended December 31, 2019. The earn-out consideration was valued at $1.2 million at the acquisition date. The earn-out consideration was subject to fair value measurement each reporting period until it was settled in fiscal 2020, see Note 13 for further details.

In connection with the acquisition, the Company issued restricted stock units and restricted stock awards valued at $4.7 million in the aggregate to Machinio’s executives and employees. The restricted stock units and restricted stock awards are subject to performance-based vesting, based upon Machinio's achievement of certain annual revenue and adjusted EBITDA targets through calendar year 2021, in each case, subject to each recipient’s continued employment with the Company on such vesting dates and other standard terms and conditions set forth in the respective grant agreements.

Under the acquisition method of accounting, the total estimated purchase price is allocated to Machinio's net tangible and intangible assets acquired based on their estimated fair values as of July 10, 2018. Based on management's valuation of the fair value of tangible and intangible assets acquired and liabilities assumed, goodwill of $14.6 million was recorded, of which zero is deductible for tax purposes. The purchase price was allocated as follows:


	Consideration Amount
	(in thousands)
Other Current Assets	$	106
Goodwill	14,558
Customer relationships intangible asset	3,100
Developed technology intangible asset	2,700
Trade name intangible asset	1,500
Property and equipment and other long-term assets	252
Liabilities excluding deferred revenue	(956)
Deferred revenue	(1,400)
Total consideration	$	19,860

Related to the recognition of intangible assets for customer relationships, developed technology, and trade name, as well as the earn-out consideration and deferred revenue, certain nonrecurring fair value measurements were performed as of the acquisition date under the provisions of ASC 805. The fair value measurements were classified as Level 3 assets within the fair value hierarchy under the provisions of ASC 820 and ASC 805. The significant unobservable inputs used in the fair value measurements categorized within Level 3 of the fair value hierarchy were discount rates ranging from 30% to 35% for the identifiable intangible assets and deferred revenue and 12% to 17% for the contingent consideration. The valuation processes used included the relief from royalty method and the multi-period excess earnings method for the identifiable intangible assets, cost to fulfill method for the deferred revenue, and a Monte Carlo simulation to estimate the fair value of the contingent consideration.

The net sales and operating losses of Machinio included within the Consolidated Financial Statements since the date of acquisition was $0.7 million and $(0.9) million for the year ended September 30, 2018.

The following pro-forma financial information presents the Company's results as if the acquisition had occurred on October 1, 2016:


	Year Ended September 30, 2018
	(in thousands)
Revenue	$	228,484
Net loss	$	(12,857)

This pro-forma information includes nonrecurring adjustments for the amortization of intangible assets and the recognition of deferred revenue.

Property and Equipment

12 Months Ended

Sep. 30, 2020

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment, including equipment under capital lease obligations, consists of the following:


	September 30,
	2020		2019
	(in thousands)
Computers and purchased software	$	2,060	$	2,234
Internally developed software for internal-use	13,860		12,166
Office/Operational equipment	5,781		6,154
Leasehold improvements	3,451		2,965
Building	2,151		2,604
Furniture and fixtures	945		1,075
Vehicles	1,043		1,091
Land	754		754
Construction in progress	2,353		369
Total property and equipment	32,398		29,412
Less: Accumulated depreciation and amortization	(14,555)		(10,566)
Total property and equipment, net	$	17,843	$	18,846

Depreciation and amortization expense related to property and equipment for the years ended September 30, 2020, 2019 and 2018, was $4.9 million, $3.7 million and $4.2 million, respectively. Included in those amounts is amortization of internally developed software for internal-use of $2.9 million, $1.2 million and $1.4 million, respectively.

There were no property and equipment impairment charges for the years ended September 30, 2020, 2019 and 2018.

Leases

12 Months Ended

Sep. 30, 2020

Leases [Abstract]

Leases

LeasesThe Company has operating leases for its corporate offices, warehouses, vehicles and equipment. The operating leases have remaining terms of up to 5.3 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)	Year ended September 30, 2020
Finance lease – lease asset amortization	$	69
Finance lease – interest on lease liabilities	23
Operating lease cost	5,264
Short-term lease cost	125
Variable lease cost (1)	1,463
Sublease income	(258)
Total net lease cost	$	6,686

(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:


	September 30, 2020
(in thousands)	Operating Leases		Finance Leases
2021	$	4,421	$	56
2022	3,097		55
2023	2,484		56
2024	1,525		56
2024	988		55
Thereafter	208		50
Total lease payments (1)	$	12,723	$	328
Less: imputed interest (2)	(1,406)		(62)
Total lease liabilities	$	11,317	$	266

(1) The weighted average remaining lease term is 3.5 years for operating leases and 5.8 years for finance leases.

(2) The weighted average discount rate is 6.6% for operating leases and 7.5% for finance leases.

Supplemental disclosures of cash flow information related to leases are:


(in thousands)	Year ended September 30, 2020
Cash paid for amounts included in operating lease liabilities	$	4,771
Cash paid for amounts included in finance lease liabilities	34
Non-cash: lease liabilities arising from new operating lease assets obtained (1)	12,190
Non-cash: lease liabilities arising from new finance lease assets obtained	10
Non-cash: adjustments to lease assets and liabilities	3,942

(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)	Year ended September 30, 2020
Finance lease – lease asset amortization	$	69
Finance lease – interest on lease liabilities	23
Operating lease cost	5,264
Short-term lease cost	125
Variable lease cost (1)	1,463
Sublease income	(258)
Total net lease cost	$	6,686

Maturities of lease liabilities are:


	September 30, 2020
(in thousands)	Operating Leases		Finance Leases
2021	$	4,421	$	56
2022	3,097		55
2023	2,484		56
2024	1,525		56
2024	988		55
Thereafter	208		50
Total lease payments (1)	$	12,723	$	328
Less: imputed interest (2)	(1,406)		(62)
Total lease liabilities	$	11,317	$	266

(1) The weighted average remaining lease term is 3.5 years for operating leases and 5.8 years for finance leases.

(2) The weighted average discount rate is 6.6% for operating leases and 7.5% for finance leases.

Supplemental disclosures of cash flow information related to leases are:


(in thousands)	Year ended September 30, 2020
Cash paid for amounts included in operating lease liabilities	$	4,771
Cash paid for amounts included in finance lease liabilities	34
Non-cash: lease liabilities arising from new operating lease assets obtained (1)	12,190
Non-cash: lease liabilities arising from new finance lease assets obtained	10
Non-cash: adjustments to lease assets and liabilities	3,942

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

Goodwill

12 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The carrying value and changes in the carrying value of goodwill attributable to each reportable segment were as follows:


Goodwill (in thousands)	CAG		GovDeals		Machinio		Total
Balance at September 30, 2017	$	21,657	$	23,731	$	—	$	45,388
Business acquisition	—		—		14,558		14,558
Translation adjustments	(127)		—		—		(127)
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	372		—		—		372
Balance at September 30, 2020	$	21,550	$	23,731	$	14,558	$	59,839

Accumulated goodwill impairment losses as of September 30, 2020 and 2019 were $168.6 million.

Impairment Analysis

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 was available at the time. The DCF analysis also used included significant assumptions and judgments about long-term growth rates and discount rates.

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

As of July 1, 2020, the Company performed its annual impairment testing using a fair-value based test for all reporting units with goodwill balances. As there were favorable developments in the factors that indicated a goodwill impairment test was necessary as of March 31, 2020, the fair values of each of our reporting units with goodwill balances was higher as of July 1, 2020 than on March 31, 2020, and the fair values of each of those reporting units exceeded their carrying values by at least 20%. No impairment charge was recorded as a result of the annual test. However, given the uncertainty associated with the COVID-19 pandemic, including its extent and duration, actual results could differ significantly from the assumptions made in these goodwill impairment tests.

Intangible Assets

12 Months Ended

Sep. 30, 2020

Finite-Lived Intangible Assets, Net [Abstract]

Intangible Assets

Intangible assets consist of the following:


			Balance as of September 30, 2020						Balance as of September 30, 2019
	Useful Life (in years)	Weighted average useful Life (in years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
			(in thousands)						(in thousands)
Contract intangibles	6	6.0	$	3,100	$	(1,162)	$	1,938	$	3,100	$	(646)	$	2,454
Brand and technology	5	5.0	2,700		(1,215)		1,485		2,700		(675)		2,025
Patent and trademarks	7 - 10	8.0	2,329		(994)		1,335		2,276		(712)		1,564
Total intangible assets, net			$	8,129	$	(3,371)	$	4,758	$	8,076	$	(2,033)	$	6,043

Future expected amortization of intangible assets at September 30, 2020, is as follows:


Year Ending September 30,	Amortization
	(in thousands)
2021	$	1,336
2022	1,328
2023	1,184
2024	645
2025	265
Thereafter	—
Total	$	4,758

Amortization expense related to intangible assets for the years ended September 30, 2020, 2019 and 2018 was $1.3 million, $1.3 million and $0.4 million, respectively.

Impairment Analysis

The factors associated with the COVID-19 pandemic discussed in Note 7 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 was available at the time. 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. However, given the uncertainty associated with the COVID-19 pandemic, including its extent and duration, actual results could differ significantly from the assumptions made in this 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 previously indicated that a long-lived asset impairment test was necessary as of March 31, 2020, the Company did not identify any indicators of impairment that required an additional long-lived asset impairment test during the year ended September 30, 2020.

The Company did not record intangible asset impairment charges during the years ended September 30, 2020, 2019 and 2018.

Commitments and Contingencies

12 Months Ended

Sep. 30, 2020

Leases, Operating [Abstract]

Commitments and Contingencies

Leases

The Company leases certain office space and equipment under non-cancelable operating lease agreements, which expire at various dates through 2026. Certain of the leases contain escalation clauses and provide for the pass-through of increases in operating expenses and real estate taxes. Rent related to leases that have escalation clauses is recognized on a straight-line basis. Resulting deferred rent charges are included in other long-term liabilities and were $0.4 million at September 30, 2019.

Future minimum payments under the leases as of September 30, 2019, are as follows:


Year Ending September 30,	Operating Lease Payments		Capital Lease Payments		Total
	(in thousands)
2020	$	5,572	$	52	$	5,624
2021	3,551		53		$	3,604
2022	2,279		53		$	2,332
2023	1,500		54		$	1,554
2024	545		160		$	705
Total future minimum lease payments	$	13,447	$	372	$	13,819

Rent expense for the years ended September 30, 2019 and 2018, was $5.9 million and $10.7 million, respectively.

Contingencies

During the year ended September 30, 2019, the Company determined that it was probable that a liability would result from a sales tax audit performed by the State of California. The liability was $0.6 million, including interest and penalties, and is recorded as a component of Accrued expenses and other current liabilities in the consolidated balance sheets as of September 30, 2019. The liability was paid in the first quarter of fiscal 2020.

Commitments and Contingencies

Leases

Future minimum payments under the leases as of September 30, 2019, are as follows:


Year Ending September 30,	Operating Lease Payments		Capital Lease Payments		Total
	(in thousands)
2020	$	5,572	$	52	$	5,624
2021	3,551		53		$	3,604
2022	2,279		53		$	2,332
2023	1,500		54		$	1,554
2024	545		160		$	705
Total future minimum lease payments	$	13,447	$	372	$	13,819

Rent expense for the years ended September 30, 2019 and 2018, was $5.9 million and $10.7 million, respectively.

Contingencies

The 401(k) Benefit Plan	12 Months Ended
The 401(k) Benefit Plan	Sep. 30, 2020
Retirement Benefits [Abstract]
401(k) Benefit Plan	401(k) Benefit PlanThe Company has a retirement plan (the Plan), which is intended to be a qualified plan under Section 401(k) of the Internal Revenue Code. The Plan is a defined contribution plan available to all eligible employees and allows participants to contribute up to the legal maximum of their eligible compensation, not to exceed the maximum tax-deferred amount allowed by the Internal Revenue Service. The Plan also allows the Company to make discretionary matching contributions. During the year ended September 30, 2020, the Company changed its employer contributions from a safe harbor matching program to be fully discretionary where employer contributions may be provided to participants based upon the Company's financial performance and metrics at the end of its fiscal and calendar years. For the years ended September 30, 2020, 2019, and 2018, the Company recorded expenses of $0.9 million, $1.6 million and $1.4 million, respectively, related to its contributions to the Plan.

Income Taxes

12 Months Ended

Sep. 30, 2020

Income Tax Disclosure [Abstract]

Income Taxes

The components of the provision for income taxes of continuing operations are as follows:


	Year Ended September 30,
	2020		2019		2018
	(in thousands)
Current tax provision (benefit):
U.S. Federal	$	—	$	—	$	108
State	382		453		714
Foreign	313		611		795
	695		1,064		1,617
Deferred tax provision (benefit):
U.S. Federal	74		103		(6,796)
State	(27)		(31)		(4,182)
Foreign	59		64		33
	106		136		(10,945)
Total (benefit) provision	$	801	$	1,200	$	(9,328)

Deferred taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company's deferred tax assets and liabilities are as follows:


	September 30,
	2020		2019
	(in thousands)
Deferred tax assets:
Net operating losses—Foreign	$	12,709	$	13,009
Net operating losses—U.S.	35,126		34,856
Accrued vacation and bonus	571		674
Inventory capitalization	54		226
Allowance for doubtful accounts	65		87
Stock compensation expense	1,804		1,989
Operating lease assets	2,236		—
Restructuring costs	—		42
Depreciation	1,266		485
Other	893		953
Total deferred tax assets before valuation allowance	54,724		52,321
Less: valuation allowance	(41,788)		(41,909)
Net deferred tax assets	12,936		10,412
Deferred tax liabilities:
Amortization of intangibles	291		408
Amortization of goodwill	6,666		6,374
Depreciation	—		—
Capitalized costs	4,470		3,730
Operating lease liabilities	2,059		—
Pension liability	138		482
Total deferred tax liabilities	$	13,624	$	10,994
Net deferred taxes	$	(688)	$	(582)

The reconciliation of the U.S. federal statutory rate to the effective rate for continuing operations is as follows:


	Year Ended September 30,
	2020		2019		2018
U.S. statutory rate	21.0	%	21.0	%	24.5	%
Stock-based stock compensation expense	(14.9)	%	(2.0)	%	(0.7)	%
Non deductible compensation expense	(6.0)	%	(0.6)	%	—	%
Other permanent items	(1.1)	%	(4.2)	%	(0.5)	%
State taxes	(13.2)	%	(0.4)	%	0.1	%
Net foreign rate differential	(0.8)	%	(0.6)	%	(1.3)	%
Unrecognized tax benefits	5.1	%	(1.5)	%	(0.5)	%
Change in valuation allowance	9.9	%	(22.5)	%	(31.6)	%
Benefit from new Tax Act	—	%	—	%	51.3	%
Write-down of deferred tax assets on share-based stock compensation	(12.3)	%	(7.9)	%	—	%
Write-down of deferred tax assets on net operating loss	(15.9)	%	10.6	%	—	%
Other	1.3	%	1.5	%	3.3	%
Provision for income taxes	(26.9)	%	(6.6)	%	44.6	%

At September 30, 2020 and 2019, the Company had federal and state deferred tax assets of $27.7 million and $27.9 million, respectively, related to available federal and state net operating loss (NOL) carryforwards, foreign tax credit carryforwards, and other U.S. deductible temporary differences. The federal and state NOL carryforwards expire beginning in 2032 and 2021, respectively. The foreign tax credit carryforwards expire beginning in 2023. At September 30, 2020 and 2019, the Company had deferred tax assets related to available foreign NOL carryforwards of $12.7 million and $13.0 million respectively. All but $0.2 million of our foreign NOLs maintain an indefinite carry forward life. The NOLs with limited carryforward periods will expire beginning in 2021.

On March 27, 2020, The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted in response to the COVID-19 pandemic. The CARES Act, among other things, accelerates the recovery of alternative minimum tax (AMT) credits into fiscal year 2020. During fiscal year 2020, the Company recovered its full AMT refund of $1.7 million. Prior to the CARES Act, the Company’s AMT credits were recoverable in fiscal years 2021 through 2023. The CARES Act also permits net operating loss (NOL) carryovers and carrybacks to offset 100% of taxable income for taxable years beginning before 2021. In addition, NOLs incurred in fiscal years 2019, 2020, and 2021 may be carried back to each of the five preceding taxable years to generate a refund of previously paid income taxes. The Company is currently evaluating the impact of the CARES Act, but at present does not expect the NOL provisions of the CARES Act to result in a material cash benefit.

The Tax Act and Jobs Act of 2017 ("The Tax Act") subjects a U.S. shareholder to a minimum tax on "global intangible low-taxed income" ("GILTI") earned by certain foreign subsidiaries. The FASB Staff Q&A Topic 740 No. 5. Accounting for Global Intangible Low-Taxed Income states that an entity can make an accounting policy election to either recognize deferred taxes for temporary differences expected to reverse as GILTI in future years or provide for the tax expense related to GILTI resulting from those items in the year the tax is incurred. The Company has elected to recognize the resulting tax on GILTI as an expense in the period the tax is incurred.

The Company assesses available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit use of the existing deferred tax assets. A significant piece of objective negative evidence evaluated was the cumulative loss incurred over the three-year period ended September 30, 2020. Such objective evidence limits the ability to consider other evidence such as our projections for future growth. On the basis of this evaluation, the Company recorded a net change to its valuation allowance of $(0.1) million to bring the total valuation allowance to $41.8 million at September 30, 2020.

On July 10, 2018, the Company acquired 100% of the stock of Machinio for $19.9 million. Under the acquisition method of accounting, the Company recorded a net deferred tax liability of $0.7 million comprised primarily of acquired intangibles netted against NOLs and other deferred assets and recognized a $0.7 million tax benefit from a reduction to its valuation allowance. The total amount of acquired NOLs, which are subject to limitations under Section 382, were $1.4 million.

The Company has not recorded a provision for deferred U.S. tax expense on the undistributed earnings of foreign subsidiaries since the Company intends to indefinitely reinvest the earnings of these foreign subsidiaries outside the U.S. The amount of such undistributed foreign earnings was $4.5 million as of September 30, 2020. As of September 30, 2020, and 2019, $19.5 million and $21.0 million, respectively, of cash and cash equivalents was held overseas and not available to fund domestic operations without incurring taxes upon repatriation.

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits (in thousands):


	Year Ended September 30,
	2020		2019		2018
Beginning balance at October 1	$	273	$	—	$	—
Additions based on positions related to the current year	—		—		—
Additions for tax positions of prior years	—		273		107
Reductions for tax positions of prior years	(150)		—		(107)
Settlements	—		—		—
Balance at September 30	$	123	$	273	$	—

The Company applies the authoritative guidance related to uncertainty in income taxes. ASC 740 states that a benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, on the basis of the technical merits. During 2020, the Company recorded a benefit of $0.2 million due to the reduction of unrecognized tax benefits related to foreign operations.

The Company recognizes interest and penalties in the period in which they occur in the income tax provision. 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 U.K. The Company has no open income tax examinations in the U.S. and the statute of limitations for years prior to 2017 is now closed. However, certain tax attribute carryforwards that were generated prior to fiscal year 2017 may be adjusted upon examination by tax authorities if they are utilized. The Company's Hong Kong subsidiary is currently under examination for fiscal years 2015 through 2017.

- 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

Equity Transactions

12 Months Ended

Sep. 30, 2020

Stockholders' Equity Note [Abstract]

Equity Transactions

Stock Compensation Incentive Plans

The Company has several incentive plans under which stock options, restricted stock units (RSUs), restricted stock awards (RSAs), and cash-settled stock appreciation rights (SARs) have been issued, including the Third Amended and Restated 2006 Omnibus Long-Term Incentive Plan, as amended, and a plan and private placement issuances related to the Company’s acquisition of Machinio. As of September 30, 2020, the Company has reserved at total of 19,100,000 shares of its common stock for exercises of stock options, vesting of RSUs, and grants of RSAs under these plans. Vesting of RSUs and grants of RSAs count as 1.5x shares against the plan reserves. As of September 30, 2020, 3,087,929 shares of common stock remained available for use.

Stock Compensation Expense

The table below presents the components of share-based compensation expense (in thousands):


	Year Ended September 30,
	2020		2019		2018
Equity-classified awards:
Stock options	$	2,054	$	1,530	$	858
RSUs & RSAs	3,635		4,496		5,454
Liability-classified awards:
SARs	$	(29)	$	482	$	285
Total stock compensation expense:	$	5,660	$	6,508	$	6,597

The Company’s total liabilities for liability-classified stock compensation awards was $102 thousand and $758 thousand as of September 30, 2020 and 2019, the current portion of which was $61 thousand and $707 thousand, respectively.

Share-Based Award Activity

Stock Options

The table below presents stock option activity (aggregate intrinsic value in thousands):


	Stock Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding as of September 30, 2019	2,672,278	$	9.50	6.12	$	2,502
Granted	818,519	$	6.82		$	—
Exercised	(28,399)	$	3.91		$	92
Forfeited	(282,266)	$	12.16		$	58
Expired	(104,218)	$	11.12		$	—
Outstanding as of September 30, 2020	3,075,914	$	8.54	6.16	$	2,841
Vested and expected to vest as of September 30, 2020	2,951,816	$	8.60	6.14	$	2,742
Exercisable as of September 30, 2020	1,313,243	$	11.15	4.61	$	1,199

Of the 1,762,671 stock options not yet exercisable as of September 30, 2020, 707,834 can become exercisable by satisfying service conditions only, and 1,054,837 can become exercisable by satisfying service and performance or market conditions.

Stock options containing only service conditions generally vest over periods of one to four years and expire five to ten years from the date of grant. Stock compensation cost is expensed ratably over the entire service period. As of September 30, 2020, there was $1.6 million of unrecognized compensation cost related to stock options containing only service conditions, which is expected to be recognized over a weighted-average period of 2.7 years.

The range of assumptions used to determine the fair value of stock options using the Black-Scholes option-pricing model during the years ended September 30, 2020, 2019 and 2018 were as follows:


	Year ended September 30
	2020	2019	2018
Dividend yield	—	—	—
Expected volatility	46.5% - 51.0%	47.8% - 53.7%	50.8% - 58.6%
Risk-free interest rate	0.5% - 1.5%	1.9% - 2.8%	0.5% - 2.7%
Expected term	4.6- 7.4 years	4.2 - 7.1 years	3.8 years

The weighted-average grant date fair value of options granted during the year-ended September 30, 2020, 2019 and 2018 was $2.66, $2.70 and $2.04, respectively. The total intrinsic value of options exercised during 2020, 2019 and 2018 was $92 thousand, $307 thousand and $30 thousand, respectively.

Stock options containing performance conditions are discussed separately in the section below.

RSUs & RSAs

The table below presents RSU & RSA activity (aggregate fair value in thousands):


	RSU & RSA	Weighted- Average Grant Date Fair Value		Weighted- Average Remaining Contractual Term (years)	Aggregate Fair Value
Outstanding as of September 30, 2019	1,923,980	$	7.19	2.10	$	14,237
Granted	524,093	$	6.21		$	3,257
Vested	(488,913)	$	7.19		$	3,145
Forfeited	(413,875)	$	7.00		$	2,410
Outstanding as of September 30, 2020	1,545,285	$	6.84	1.85	$	11,528
Expected to vest as of September 30, 2020	1,160,925	$	6.72	2.11	$	8,661

Of the outstanding RSUs & RSAs as of September 30, 2020, 629,303 can vest by satisfying service conditions only, and 915,982 can vest by satisfying service and performance or market conditions.

RSUs containing only service conditions vest ratably each year over periods of one to four years. Stock compensation cost is expensed ratably over the entire service period. As of September 30, 2020, there was $2.6 million of unrecognized compensation cost related to RSUs containing only service conditions, which is expected to be recognized over a weighted-average period of 2.5 years.

RSUs and RSAs containing performance conditions and market conditions are discussed separately in the section below.

SARs

The table below presents SAR award activity (aggregate intrinsic value in thousands):


	SARs	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding as of September 30, 2019	433,582	$	6.49	0.93	$	748

Exercised	(226,142)	$	4.58		$	595
Forfeited	(46,630)	$	9.02		$	—
Outstanding as of September 30, 2020	160,810	$	8.45	1.00	$	96
Vested and expected to vest as of September 30, 2020	141,973	$	8.21	1.13	$	96
Exercisable as of September 30, 2020	47,662	$	9.53	0.42	$	12

Of the 113,148 SARs not yet exercisable as of September 30, 2020, 37,974 can become exercisable by satisfying service conditions only, and 75,174 can become exercisable by satisfying service and performance or market conditions.

As of September 30, 2020, there was less than $0.1 million of unrecognized compensation cost related to SARs containing only service conditions, which is expected to be recognized over a weighted-average period of 2.3 years. The Company made cash payments of $0.6 million, $0.5 million and $0.2 million to settle SARs exercised during the years ended September 30, 2020, 2019 and 2018, respectively.

The fair value of outstanding SARs containing only service conditions is estimated using the Black-Scholes option-pricing model. The range of assumptions used to determine the fair value of outstanding SARs as of September 30, 2020, 2019 and 2018 were as follows:


	Year ended September 30
	2020	2019	2018
Dividend yield	—	—	—
Expected volatility	55.0% - 68.8%	38.2% - 48.8%	34.9% - 53.6%
Risk-free interest rate	0.1% - 0.1%	1.3% - 1.7%	2.6% - 2.8%
Expected term	0.0-2.3 years	0.1-3.3 years	0.1-2.0 years

As of September 30, 2020 and 2019, the weighted-average fair value of SARs outstanding was $0.63 and $1.67 per award.

SARs containing performance conditions and market conditions are discussed separately in the section below.

Stock Awards Containing Performance and Market Conditions

Stock awards containing performance conditions vest upon the achievement of specified financial targets of the Company or its business units. Vesting is generally measured on 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 twelve months performance of the Company or its business units. When it is probable that the performance targets will be achieved, stock compensation expense is recognized ratably over the derived service period. If the Company determines that achievement of the performance targets is no longer probable, the Company no longer records expense and reverses all previously recognized expense. As of September 30, 2020, there was $0.1 million of unrecognized compensation costs related to stock options and RSUs & RSAs, containing performance conditions that are considered probable of being met, which is expected to be recognized over a weighted-average period of 1.1 years.

Stock awards containing market conditions 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 award, 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. Stock compensation cost is expensed on a straight-line basis over the derived service period for each stock price target within the award. The Company accelerates expense when a stock price target is achieved prior to the derived service period. For equity-classified awards, the Company does not reverse expense recognized if the stock price target(s) are not ultimately achieved, but expense is reversed when such situations occur for liability classified awards. As of September 30, 2020, there was $1.0 million of unrecognized compensation costs related to stock options, RSUs and SARs, containing market conditions, which is expected to be recognized over a weighted-average period of 0.8 years.

The fair value of stock options, RSUs and SARs containing market conditions is estimated using Monte Carlo simulations. The range of assumptions used to determine the fair value of these awards during the years ended September 30, 2020, 2019 and 2018 were as follows:


	Year ended September 30
	2020	2019	2018
Dividend yield	—	—	—
Expected volatility	45.2% - 54.9%	45.5% - 55.0%	50.0% - 54.5%
Risk-free interest rate	0.1% - 1.7%	1.5% - 2.9%	2.0% - 2.5%
Expected holding period (% of remaining term)	30.7% - 100.0%	25.9% - 100.0%	20.3%

Share Repurchase Program

The Company is authorized to repurchase issued and outstanding shares of its common stock under a share repurchase program approved by the Board of Directors. Share repurchases may be made through open market purchases, privately negotiated transactions or otherwise, at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements and other market conditions. The repurchase program may be discontinued or suspended at any time and will be funded using the Company's

available cash. The Company's Board of Directors reviews the share repurchase program periodically, the last such review having occurred in September 2020. During the year ended September 30, 2020, the Company repurchased 547,508 shares of its common stock for $4.0 million. As of September 30, 2020, the Company may repurchase an additional $6.1 million of shares under this program.

Fair Value Measurement

12 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurement

The Company measures and records in the accompanying consolidated financial statements 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 September 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 for which the Company has used Level 3 inputs to determine fair value for the year ended September 30, 2020, are as follows (dollars in thousands):


	Contingent Consideration

Balance at September 30, 2019	$	4,800
Change in fair value of earn-out liability	200
Settlement	$	(5,000)
Balance at September 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.

Management’s estimation of the fair value of these assets and liabilities is based on the best information available in the circumstances and may incorporate management's own assumptions regarding market demand for these assets. Such assumptions involve management's judgment, taking into consideration a combination of internal and external factors.

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 2.5%. The Company has $30.0 million of money market funds considered cash equivalents at September 30, 2020. These assets were measured at fair value at September 30, 2020 and 2019 and were classified as Level 1 assets within the fair value hierarchy.

The Company’s financial assets not measured at fair value are cash, accounts receivable, and a promissory note. The Company believes the carrying values of these instruments approximate fair value.

As of September 30, 2020 and 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

12 Months Ended

Sep. 30, 2020

Retirement Benefits [Abstract]

Defined Benefit Pension Plan

Defined Benefit Pension PlanCertain 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 Company recognizes the funded status of its postretirement benefit plans, with a corresponding noncash adjustment to accumulated other comprehensive loss, net of tax, in stockholders' equity. The funded status is measured as the difference between the fair value of the Scheme's assets and the benefit obligation of the Scheme.

The net periodic benefit cost is recognized within Interest and other income, net in the Consolidated Statements of Operations, and for the years ended September 30, 2020, 2019 and 2018, included the following components:


	Year Ended September 30,
	2020		2019		2018
	(in thousands)
Interest cost	$	431	$	618	$	651
Expected return on plan assets	(797)		(965)		(986)
Amortization of prior service cost	19		—		—
Total net periodic benefit	$	(347)	$	(347)	$	(335)

The following table provides a reconciliation of benefit obligations, plan assets, and funded status related to the Company's qualified defined benefit pension plan for the years ended September 30, 2020 and 2019:


	Year Ended September 30,
	2020		2019
	(in thousands)
Change in benefit obligation
Beginning balance	$	23,240	$	22,226
Interest cost	431		618
Benefits paid	(597)		(879)
Actuarial loss/(gain)	1,803		2,508
Foreign currency exchange rate changes	1,170		(1,233)
Ending balance	$	26,047	$	23,240


	Year Ended September 30,
	2020		2019
	(in thousands)
Change in plan assets
Beginning balance at fair value	$	25,779	$	25,132
Actual return on plan assets	297		3,003
Benefits paid	(597)		(879)

Foreign currency exchange rate changes	1,292		(1,477)
Ending balance at fair value	$	26,771	$	25,779
Overfunded status of the Scheme	$	724	$	2,539

The pension asset of $0.7 million is recorded in Other long-term assets in the Consolidated Balance Sheet. Because the Scheme is closed to new participants, the accumulated benefit obligation is equal to the projected benefit obligation, which was $26.0 million and $23.2 million at September 30, 2020 and 2019, respectively.

The amounts recognized in other comprehensive (income) loss related to the Company's qualified defined benefit pension plan, net of taxes, and the related foreign currency translation adjustments, for the years ended September 30, 2020 and 2019, is shown in the following table:


	Year Ended September 30,
	2020		2019
	(in thousands)
Accumulated other comprehensive income at beginning of year	$	303	$	892
Net actuarial loss	(2,293)		(540)
Foreign currency translation adjustments	19		(49)
Accumulated other comprehensive income (loss) at end of year	$	(1,971)	$	303

The plan complies with the funding provisions of the UK Pensions Act 2004 and the Occupational Pension Schemes Regulations Act 2005. The Company does not plan to make contributions to the plan in the near future.

Actuarial Assumptions

The actuarial assumptions used to determine the benefit obligations at September 30, 2020 and 2019, and to determine the net periodic (benefit) cost for the year were as follows:


	September 30, 2020		September 30, 2019
Discount rate to determine net periodic (benefit) cost	1.80	%	2.90	%
Expected return on plan assets	3.00	%	4.00	%
Discount rate to determine benefit obligations	1.60	%	1.80	%
Rate of increases to deferred CPI linked benefits	2.50	%	2.10	%
Rate of increases to deferred RPI linked benefits	3.00	%	3.20	%

Mortality—105% for males and females of S2PxA mortality tables, projected in line with the 2019 Continuous Mortality Investigation projection model and a 1.3% per annum long-term rate of improvement.

Estimated Future Benefit Payments

The Company's pension plan expects to make the following benefit payments to participants over the next 10 years:


	Pension Benefits
	(in thousands)
Year ending September 30,
2021	$	740
2022	869
2023	758
2024	1,168
2025	1,013
2026 through 2030	5,020
Total	$	9,568

Fair Value Measurements

The investment policy and strategy of the plan assets, as established by the Trustees (the "Trustees") of the plan, strive to maximize the likelihood of achieving primary objectives of the investment policy established for the plan, which are:

•Funding—to ensure that the Plan is fully funded using assumptions that contain a modest margin for prudence. Where an actuarial valuation reveals a deficit, a recovery plan will be put in place which will take into account the financial covenant of the employer;

•Stability—to have due regard to the likely level and volatility of required contributions when setting the Plan's investment strategy; and

•Security—to ensure that the solvency position of the Scheme is expected to improve. The Trustees will take into account the strength of employer's covenant when determining the expected improvement in the solvency position of the Plan.

The assets are allocated among equity securities, corporate bonds, and diversified funds. The assets are not rebalanced, but the allocation is reviewed on a periodic basis to ensure that the investments are appropriate to the Scheme's circumstances. The Trustees review the investment policy on an ongoing basis, to determine whether a change in the policy or asset allocation targets is necessary. The Company has elected to use a bid value of Scheme assets to calculate the expected return on assets in the net periodic benefit cost. The assets consisted of the following as of September 30, 2020 and 2019:


	2020		2019
Equity securities	20.6	%	19.7	%
Corporate bonds	53.0	%	56.4	%
Diversified fund	26.0	%	23.5	%
Cash	0.4	%	0.4	%
Total	100.0	%	100.0	%

The expected long-term rate of return for the plan's total assets is based on the expected returns of each of the above categories, weighted based on the current target allocation for each class. The Trustees evaluate whether adjustments are needed based on historical returns to more accurately reflect expectations of future returns.

The Company is required to present certain fair value disclosures related to its postretirement benefit plan assets, even though those assets are not included in the Company's Consolidated Balance Sheets. The following table presents the fair value of the assets of the Company's qualified defined benefit pension plan by asset category and their level within the fair value hierarchy.


Balance as of September 30, 2020	Level 1		Level 2		Level 3		Total
	(in thousands)
Equity securities	$	—	$	5,526	$	—	$	5,526
Corporate bonds	—		14,194		—		14,194
Diversified fund	—		6,957		—		6,957
Cash	94		—		—		94
Total	$	94	$	26,677	$	—	$	26,771


Balance as of September 30, 2019	Level 1		Level 2		Level 3		Total
	(in thousands)
Equity securities	$	—	$	5,077	$	—	$	5,077
Corporate bonds	—		14,546		—		14,546
Diversified fund	—		6,062		—		6,062
Cash	94		—		—		94
Total	$	94	$	25,685	$	—	$	25,779

Valuation Techniques

The Company relies on pricing inputs from investment fund managers to value investments. The fund manager prices the underlying securities using independent external pricing sources.

- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(i)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

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

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

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 70
-Section 50
-Paragraph 1
-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
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6414203&loc=d3e39689-114964

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(03)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (q)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(1)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iii)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (l)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

+ Details

Business Realignment Expenses

12 Months Ended

Sep. 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 include employee severance and benefit costs associated with terminations, occupancy costs associated the ceased use of facilities, and other related costs, such as impairments. Business realignment expenses are recorded as a component of Other operating expenses on the Consolidated Statements of Operations.

For the year ended September 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.

For the year ended September 30, 2018, business realignment expenses were incurred related to: cost saving actions in the CAG segment and Corporate IT department. These actions were partially offset by an adjustment to reduce the liability associated with the ceased use of the Company's previous headquarters location in Washington D.C. that was initially recognized during the year ended September 30, 2017.

The table below sets forth the significant components and activity in the liability for business realignment initiatives during the year ended September 30, 2020, 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 September 30, 2020
Employee severance and benefit costs:
GovDeals	$	—	$	—	$	—	$	—	$	—	$	29	$	(25)	$	4
RSCG	—		—		—		—		—		84		(64)		20
CAG	89		443		(118)		414		—		120		(481)		53
Corporate & Other	21		1,537		(1,320)		238		—		172		(410)		—
Total employee severance and benefit costs	110		1,980		(1,438)		652		—		405		(980)		77
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)	$	405	$	(980)	$	77

Legal Proceedings	12 Months Ended
Legal Proceedings	Sep. 30, 2020
Loss Contingency, Information about Litigation Matters [Abstract]
Legal Proceedings	Legal ProceedingsFrom 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 the Company's management's judgment have a material adverse effect on the Company.

Segment Information

12 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Segment Information

The Company provides operating results in four reportable segments: GovDeals, Capital Assets Group (CAG), Retail Supply Chain Group (RSCG), 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 and idle 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 on the AllSurplus marketplace. Prior to the conclusion of the Scrap and Surplus Contracts (see Note 3), CAG sold surplus and 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, including elimination adjustments. For the years ended September 30, 2019 and 2018 Corporate & Other included 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, with oversight by the Board of Directors. 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:


		Year Ended September 30,
(in thousands)		2020		2019		2018
GovDeals:
	Revenue	$	—	$	—	$	—
	Fee revenue	32,806		32,936		30,214
	Total revenue	32,806		32,936		30,214
	Gross profit	30,721		30,386		27,990

RSCG:
	Revenue	118,398		110,736		88,295
	Fee revenue	18,093		16,585		13,659
	Total revenue	136,491		127,321		101,954
	Gross profit	49,727		44,967		33,009

CAG:
	Revenue	9,182		36,684		57,717
	Fee revenue	20,299		23,558		30,308
	Total revenue	29,481		60,242		88,025
	Gross profit	22,714		32,679		48,873

Machinio:
	Revenue	—		—		—
	Fee revenue	7,213		5,598		653
	Total revenue	7,213		5,598		653
	Gross profit	6,813		5,196		501

Corporate & Other, including elimination adjustments:
	Revenue	—		469		3,665
	Fee revenue	(51)		(41)		3
	Total revenue	(51)		428		3,668
	Gross profit	(51)		52		(661)

Consolidated:
	Revenue	127,580		147,889		149,677
	Fee revenue	78,360		78,636		74,837
	Total revenue	205,940		226,525		224,514
	Gross profit	109,924		113,280		109,712

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


		Year Ended September 30,
(in thousands)		2020	2019	2018
Reconciliation:
	Gross profit	109,924	113,280	109,712
	Operating expenses	113,248	127,739	130,048
	Other operating expenses	573	5,049	1,392
	Interest and other income, net	(924)	(1,448)	(785)
	Loss before provision for income taxes	(2,973)	(18,060)	(20,943)

Total segment assets reconciled to consolidated amounts are as follows:


	September 30,
(in thousands)	2020			2019
Segment Assets:
GovDeals	$	102,083		$	75,218
RSCG	51,230			27,075
CAG	107,529			128,918
Machinio	26,568			26,613
Corporate & Other, including elimination adjustments	(90,776)			(70,541)
Total Segment Assets:	$	196,634	196634000	$	187,283

Revenue attributed to countries that represent a significant portion of consolidated revenues are as follows:


	Year Ended September 30,
(in thousands)	2020		2019		2018
United States	$	180,887	$	191,816	$	193,240
Rest of the world	25,053		34,709		31,274
Consolidated	$	205,940	$	226,525	$	224,514

Total property and equipment by geographic areas are as follows:


	September 30,
(in thousands)	2020		2019
United States	$	17,358	$	18,455
Rest of the world	485		391
Consolidated	$	17,843	$	18,846

- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Quarterly Results (Unaudited)

12 Months Ended

Sep. 30, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results (Unaudited)

The following table sets forth for the eight most recent quarters the selected unaudited quarterly consolidated statement of operations data. The unaudited quarterly consolidated statement of operations data has been prepared on the same basis as the Company's audited consolidated financial statements and, in the opinion of management, includes all adjustments, consisting only of normal recurring adjustments, necessary for the fair presentation of this data.


	Three months ended
	Dec. 31, 2018		Mar. 31, 2019		June 30, 2019		Sept. 30, 2019		Dec. 31, 2019		Mar. 31, 2020		June 30, 2020		Sept. 30, 2020
	(in thousands, except share and per share data)
Revenue	$	54,053	$	56,800	$	56,882	$	58,790	$	49,504	$	52,824	$	47,722	$	55,890
Gross profit (excludes depreciation and amortization)	$	26,473	$	29,218	$	28,551	$	29,038	$	25,328	$	26,205	$	25,228	$	33,163
Income (loss) before provision for income taxes	$	(4,756)	$	(4,034)	$	(4,107)	$	(5,163)	$	(4,738)	$	(4,195)	$	422	$	5,538
Net income (loss)	$	(5,022)	$	(4,362)	$	(4,649)	$	(5,227)	$	(5,196)	$	(4,238)	$	213	$	5,447
Basic income (loss) per common share	$	(0.15)	$	(0.13)	$	(0.14)	$	(0.16)	$	(0.15)	$	(0.13)	$	0.01	$	0.16
Diluted income (loss) per common share	$	(0.15)	$	(0.13)	$	(0.14)	$	(0.16)	$	(0.15)	$	(0.13)	$	0.01	$	0.16
Basic weighted average shares outstanding	32,808,144		32,987,608		33,164,750		33,291,275		33,545,235		33,624,889		33,695,936		33,584,040
Diluted weighted average shares outstanding	32,808,144		32,987,608		33,164,750		33,291,275		33,545,235		33,624,889		33,815,332		33,986,862

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Sep. 30, 2020

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS

SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS

(Dollars in Thousands)


	Balance at beginning of period		Charged (credited) to expense	Reductions	Balance at end of period
Deferred tax valuation allowance (deducted from net deferred tax assets)
Year ended September 30, 2018	$	54,379	(15,042)	—	$	39,337
Year ended September 30, 2019	39,337		2,572	—	41,909
Year ended September 30, 2020	$	41,909	(121)	—	$	41,788
Allowance for doubtful accounts (deducted from accounts receivable)
Year ended September 30, 2018	$	668	199	(530)	$	337
Year ended September 30, 2019	337		178	(224)	291
Year ended September 30, 2020	$	291	200	(102)	$	389
Provision for inventory allowance (deducted from inventory)
Year ended September 30, 2018	$	4,572	2,494	(6,563)	$	503
Year ended September 30, 2019	503		331	(503)	331
Year ended September 30, 2020	$	331	328	(359)	$	300

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Sep. 30, 2020

Accounting Policies [Abstract]

Use of Estimates

Use of EstimatesThe 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 year ended September 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 from those estimates.

Principles of Consolidation and Basis of Presentation

Business Combinations

Cash and Cash Equivalents

The Company considers all highly liquid securities purchased with an initial maturity of three months or less to be cash equivalents.

Short-term Investments

The Company's short-term investments at September 30, 2019 consisted of various certificates of deposit with maturities of six months or less with interest rates between 1.97% and 2.50%.

Accounts Receivable

Inventory

InventoryInventory consists of property obtained for resale, generally through the online auction process, and is stated at the lower of cost or net realizable value. Cost is generally determined using the specific identification method. Costs associated with our warehouse operations are expensed as incurred and included within Technology and operations expenses in the Statements of Operations. Charges for unsellable inventory, as well as for inventory written down to net realizable value, are included in Cost of goods sold in the period in which they have been determined to occur.

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assetsPrepaid expenses and other current assets includes the short-term portion of a promissory note (described in "Other Assets"), as well as other miscellaneous prepaid expenses.

Other Assets

Property and Equipment

Property and equipment are recorded at cost, and depreciated or amortized on a straight-line basis over the following estimated useful lives:


Computers and purchased software						One to five years
Office/operational equipment						Three to five years
Furniture and fixtures						Five to seven years
Internally developed software for internal-use						Five years (1)
Leasehold improvements						Shorter of lease term or useful life
Buildings						Thirty-nine years
Vehicles						Five years
Land						Not depreciated

Leases

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.

Lease assets are assessed for impairment in accordance with the Company’s accounting policy for the impairment of long-lived assets.

Intangible Assets

Intangible assets consist of contract intangibles, brand and technology, and patent and trademarks. Intangible assets are amortized using the straight-line method over their estimated useful lives.

Impairment of Long-Lived Assets

Impairment of Long-Lived AssetsLong-lived assets, including definite-lived intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be fully recoverable. If an impairment indicator is present, the Company evaluates recoverability by comparing the carrying amount of the assets to future undiscounted net cash flows expected to be generated by the assets. If the assets are impaired, the impairment recognized is measured by the amount by which the carrying amount exceeds the estimated fair value of the assets.

Goodwill

Deferred Revenue

Deferred revenue is primarily derived from Machinio and MachineryHost subscriptions that range from one to forty months. Subscription fees are recognized ratably over the term of the agreements.

Short-Term Borrowings

Short-Term BorrowingsThe Company may enter into collateralized short-term borrowing agreements with banks to facilitate certain international transactions conducted under the purchase model.

Revenue Recognition

The Company adopted the Financial Accounting Standard Board's (FASB) Accounting Standards Codification (ASC) Topic 606, Revenue from Contracts with Customers (ASC 606) effective October 1, 2018.

Cost of Goods Sold

Contract Assets and Liabilities

Deferred revenue on the consolidated balance sheets. Of the September 30, 2019 contract liability balance, $3.0 million was earned as Fee Revenue during the year ended September 30, 2020.

Contract Costs

Contract costs relate to sales commissions paid on consignment contracts that are capitalized. Contract costs are amortized over the expected life of the customer contract.

Risk Associated with Certain Concentrations

Income Taxes

Stock-Based Compensation

Compensation expense from the stock awards is included in the same lines on the consolidated statements of operations as the cash compensation to the employees receiving the stock awards.

Excess tax benefits realized from stock awards are reported as cash flows from operating activities on the consolidated statement of cash flows.

Advertising Costs

Advertising CostsAdvertising expenditures are expensed as incurred.

Treasury Stock

Foreign Currency Translation

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Loss

The following table shows the changes in accumulated other comprehensive income loss, net of taxes (in thousands):


	Foreign Currency Translation Adjustments		Net Change Pension and Other Postretirement Benefit Plans		Accumulated Other Comprehensive Loss
Balance at September 30, 2017	$	(6,794)	$	363	$	(6,431)
Current-period other comprehensive (loss) income	(791)		773		(18)
Balance at September 30, 2018	(7,585)		1,136		(6,449)
Current-period other comprehensive (loss) income	(984)		(540)		(1,524)
Balance at September 30, 2019	(8,569)		596		(7,973)
Current-period other comprehensive (loss) income	484		(2,293)		(1,809)
Balance at September 30, 2020	$	(8,085)	$	(1,697)	$	(9,782)

Net Loss Per Share (EPS)

The Company calculates basic EPS by dividing net loss by the weighted-average number of common shares outstanding during the reporting period, excluding unvested restricted stock awards.

Recent Accounting Pronouncements

Accounting Standards Adopted

December 22, 2017, no election to reclassify stranded tax effects from Accumulated other comprehensive to Retained earnings was made.

Accounting Standards Not Yet Adopted

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Sep. 30, 2020

Accounting Policies [Abstract]

Schedule of property and equipment useful lives

Property and equipment are recorded at cost, and depreciated or amortized on a straight-line basis over the following estimated useful lives:


Computers and purchased software						One to five years
Office/operational equipment						Three to five years
Furniture and fixtures						Five to seven years
Internally developed software for internal-use						Five years (1)
Leasehold improvements						Shorter of lease term or useful life
Buildings						Thirty-nine years
Vehicles						Five years
Land						Not depreciated

Schedule of changes in accumulated other comprehensive income (loss), net of taxes

The following table shows the changes in accumulated other comprehensive income loss, net of taxes (in thousands):


	Foreign Currency Translation Adjustments		Net Change Pension and Other Postretirement Benefit Plans		Accumulated Other Comprehensive Loss
Balance at September 30, 2017	$	(6,794)	$	363	$	(6,431)
Current-period other comprehensive (loss) income	(791)		773		(18)
Balance at September 30, 2018	(7,585)		1,136		(6,449)
Current-period other comprehensive (loss) income	(984)		(540)		(1,524)
Balance at September 30, 2019	(8,569)		596		(7,973)
Current-period other comprehensive (loss) income	484		(2,293)		(1,809)
Balance at September 30, 2020	$	(8,085)	$	(1,697)	$	(9,782)

Acquisition (Tables)

12 Months Ended

Sep. 30, 2020

Business Combinations [Abstract]

Schedule of purchase price allocation

The purchase price was allocated as follows:


	Consideration Amount
	(in thousands)
Other Current Assets	$	106
Goodwill	14,558
Customer relationships intangible asset	3,100
Developed technology intangible asset	2,700
Trade name intangible asset	1,500
Property and equipment and other long-term assets	252
Liabilities excluding deferred revenue	(956)
Deferred revenue	(1,400)
Total consideration	$	19,860

Schedule of pro forma information

The following pro-forma financial information presents the Company's results as if the acquisition had occurred on October 1, 2016:


	Year Ended September 30, 2018
	(in thousands)
Revenue	$	228,484
Net loss	$	(12,857)

Property and Equipment (Tables)

12 Months Ended

Sep. 30, 2020

Property, Plant and Equipment [Abstract]

Schedule of property and equipment

Property and equipment, including equipment under capital lease obligations, consists of the following:


	September 30,
	2020		2019
	(in thousands)
Computers and purchased software	$	2,060	$	2,234
Internally developed software for internal-use	13,860		12,166
Office/Operational equipment	5,781		6,154
Leasehold improvements	3,451		2,965
Building	2,151		2,604
Furniture and fixtures	945		1,075
Vehicles	1,043		1,091
Land	754		754
Construction in progress	2,353		369
Total property and equipment	32,398		29,412
Less: Accumulated depreciation and amortization	(14,555)		(10,566)
Total property and equipment, net	$	17,843	$	18,846

Leases (Tables)

12 Months Ended

Sep. 30, 2020

Leases [Abstract]

Lease, Cost

The components of lease expense are:


(in thousands)	Year ended September 30, 2020
Finance lease – lease asset amortization	$	69
Finance lease – interest on lease liabilities	23
Operating lease cost	5,264
Short-term lease cost	125
Variable lease cost (1)	1,463
Sublease income	(258)
Total net lease cost	$	6,686

Supplemental disclosures of cash flow information related to leases are:


(in thousands)	Year ended September 30, 2020
Cash paid for amounts included in operating lease liabilities	$	4,771
Cash paid for amounts included in finance lease liabilities	34
Non-cash: lease liabilities arising from new operating lease assets obtained (1)	12,190
Non-cash: lease liabilities arising from new finance lease assets obtained	10
Non-cash: adjustments to lease assets and liabilities	3,942

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

Lessee, Operating Lease, Liability, Maturity

Maturities of lease liabilities are:


	September 30, 2020
(in thousands)	Operating Leases		Finance Leases
2021	$	4,421	$	56
2022	3,097		55
2023	2,484		56
2024	1,525		56
2024	988		55
Thereafter	208		50
Total lease payments (1)	$	12,723	$	328
Less: imputed interest (2)	(1,406)		(62)
Total lease liabilities	$	11,317	$	266

(1) The weighted average remaining lease term is 3.5 years for operating leases and 5.8 years for finance leases.

(2) The weighted average discount rate is 6.6% for operating leases and 7.5% for finance leases.

Finance Lease, Liability, Fiscal Year Maturity

Maturities of lease liabilities are:


	September 30, 2020
(in thousands)	Operating Leases		Finance Leases
2021	$	4,421	$	56
2022	3,097		55
2023	2,484		56
2024	1,525		56
2024	988		55
Thereafter	208		50
Total lease payments (1)	$	12,723	$	328
Less: imputed interest (2)	(1,406)		(62)
Total lease liabilities	$	11,317	$	266

(1) The weighted average remaining lease term is 3.5 years for operating leases and 5.8 years for finance leases.

(2) The weighted average discount rate is 6.6% for operating leases and 7.5% for finance leases.

Goodwill (Tables)

12 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of goodwill activity

The carrying value and changes in the carrying value of goodwill attributable to each reportable segment were as follows:


Goodwill (in thousands)	CAG		GovDeals		Machinio		Total
Balance at September 30, 2017	$	21,657	$	23,731	$	—	$	45,388
Business acquisition	—		—		14,558		14,558
Translation adjustments	(127)		—		—		(127)
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	372		—		—		372
Balance at September 30, 2020	$	21,550	$	23,731	$	14,558	$	59,839

Intangible Assets (Tables)

12 Months Ended

Sep. 30, 2020

Finite-Lived Intangible Assets, Net [Abstract]

Schedule of intangible assets

Intangible assets consist of the following:


			Balance as of September 30, 2020						Balance as of September 30, 2019
	Useful Life (in years)	Weighted average useful Life (in years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
			(in thousands)						(in thousands)
Contract intangibles	6	6.0	$	3,100	$	(1,162)	$	1,938	$	3,100	$	(646)	$	2,454
Brand and technology	5	5.0	2,700		(1,215)		1,485		2,700		(675)		2,025
Patent and trademarks	7 - 10	8.0	2,329		(994)		1,335		2,276		(712)		1,564
Total intangible assets, net			$	8,129	$	(3,371)	$	4,758	$	8,076	$	(2,033)	$	6,043

Schedule of future expected amortization of intangible assets

Future expected amortization of intangible assets at September 30, 2020, is as follows:


Year Ending September 30,	Amortization
	(in thousands)
2021	$	1,336
2022	1,328
2023	1,184
2024	645
2025	265
Thereafter	—
Total	$	4,758

Commitments and Contingencies (Tables)

12 Months Ended

Sep. 30, 2020

Leases, Operating [Abstract]

Schedule of future minimum payments under operating leases

Future minimum payments under the leases as of September 30, 2019, are as follows:


Year Ending September 30,	Operating Lease Payments		Capital Lease Payments		Total
	(in thousands)
2020	$	5,572	$	52	$	5,624
2021	3,551		53		$	3,604
2022	2,279		53		$	2,332
2023	1,500		54		$	1,554
2024	545		160		$	705
Total future minimum lease payments	$	13,447	$	372	$	13,819

Schedule of future minimum payments under capital leases

Future minimum payments under the leases as of September 30, 2019, are as follows:


Year Ending September 30,	Operating Lease Payments		Capital Lease Payments		Total
	(in thousands)
2020	$	5,572	$	52	$	5,624
2021	3,551		53		$	3,604
2022	2,279		53		$	2,332
2023	1,500		54		$	1,554
2024	545		160		$	705
Total future minimum lease payments	$	13,447	$	372	$	13,819

Income Taxes (Tables)

12 Months Ended

Sep. 30, 2020

Income Tax Disclosure [Abstract]

Schedule of components of provision for income taxes of continuing operations

The components of the provision for income taxes of continuing operations are as follows:


	Year Ended September 30,
	2020		2019		2018
	(in thousands)
Current tax provision (benefit):
U.S. Federal	$	—	$	—	$	108
State	382		453		714
Foreign	313		611		795
	695		1,064		1,617
Deferred tax provision (benefit):
U.S. Federal	74		103		(6,796)
State	(27)		(31)		(4,182)
Foreign	59		64		33
	106		136		(10,945)
Total (benefit) provision	$	801	$	1,200	$	(9,328)

Schedule of significant components of deferred tax assets and liabilities

Significant components of the Company's deferred tax assets and liabilities are as follows:


	September 30,
	2020		2019
	(in thousands)
Deferred tax assets:
Net operating losses—Foreign	$	12,709	$	13,009
Net operating losses—U.S.	35,126		34,856
Accrued vacation and bonus	571		674
Inventory capitalization	54		226
Allowance for doubtful accounts	65		87
Stock compensation expense	1,804		1,989
Operating lease assets	2,236		—
Restructuring costs	—		42
Depreciation	1,266		485
Other	893		953
Total deferred tax assets before valuation allowance	54,724		52,321
Less: valuation allowance	(41,788)		(41,909)
Net deferred tax assets	12,936		10,412
Deferred tax liabilities:
Amortization of intangibles	291		408
Amortization of goodwill	6,666		6,374
Depreciation	—		—
Capitalized costs	4,470		3,730
Operating lease liabilities	2,059		—
Pension liability	138		482
Total deferred tax liabilities	$	13,624	$	10,994
Net deferred taxes	$	(688)	$	(582)

Schedule of reconciliation of U.S. federal statutory rate to effective rate for continuing operations

The reconciliation of the U.S. federal statutory rate to the effective rate for continuing operations is as follows:


	Year Ended September 30,
	2020		2019		2018
U.S. statutory rate	21.0	%	21.0	%	24.5	%
Stock-based stock compensation expense	(14.9)	%	(2.0)	%	(0.7)	%
Non deductible compensation expense	(6.0)	%	(0.6)	%	—	%
Other permanent items	(1.1)	%	(4.2)	%	(0.5)	%
State taxes	(13.2)	%	(0.4)	%	0.1	%
Net foreign rate differential	(0.8)	%	(0.6)	%	(1.3)	%
Unrecognized tax benefits	5.1	%	(1.5)	%	(0.5)	%
Change in valuation allowance	9.9	%	(22.5)	%	(31.6)	%
Benefit from new Tax Act	—	%	—	%	51.3	%
Write-down of deferred tax assets on share-based stock compensation	(12.3)	%	(7.9)	%	—	%
Write-down of deferred tax assets on net operating loss	(15.9)	%	10.6	%	—	%
Other	1.3	%	1.5	%	3.3	%
Provision for income taxes	(26.9)	%	(6.6)	%	44.6	%

Schedule of reconciliation unrecognized tax benefits

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits (in thousands):


	Year Ended September 30,
	2020		2019		2018
Beginning balance at October 1	$	273	$	—	$	—
Additions based on positions related to the current year	—		—		—
Additions for tax positions of prior years	—		273		107
Reductions for tax positions of prior years	(150)		—		(107)
Settlements	—		—		—
Balance at September 30	$	123	$	273	$	—

Equity Transactions (Tables)

12 Months Ended

Sep. 30, 2020

Stockholders' Equity Note [Abstract]

Summary of share-based compensation expense

The table below presents the components of share-based compensation expense (in thousands):


	Year Ended September 30,
	2020		2019		2018
Equity-classified awards:
Stock options	$	2,054	$	1,530	$	858
RSUs & RSAs	3,635		4,496		5,454
Liability-classified awards:
SARs	$	(29)	$	482	$	285
Total stock compensation expense:	$	5,660	$	6,508	$	6,597

Summary of stock option activity

The table below presents stock option activity (aggregate intrinsic value in thousands):


	Stock Options	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding as of September 30, 2019	2,672,278	$	9.50	6.12	$	2,502
Granted	818,519	$	6.82		$	—
Exercised	(28,399)	$	3.91		$	92
Forfeited	(282,266)	$	12.16		$	58
Expired	(104,218)	$	11.12		$	—
Outstanding as of September 30, 2020	3,075,914	$	8.54	6.16	$	2,841
Vested and expected to vest as of September 30, 2020	2,951,816	$	8.60	6.14	$	2,742
Exercisable as of September 30, 2020	1,313,243	$	11.15	4.61	$	1,199

Summary of fair value assumptions, stock options

The range of assumptions used to determine the fair value of stock options using the Black-Scholes option-pricing model during the years ended September 30, 2020, 2019 and 2018 were as follows:


	Year ended September 30
	2020	2019	2018
Dividend yield	—	—	—
Expected volatility	46.5% - 51.0%	47.8% - 53.7%	50.8% - 58.6%
Risk-free interest rate	0.5% - 1.5%	1.9% - 2.8%	0.5% - 2.7%
Expected term	4.6- 7.4 years	4.2 - 7.1 years	3.8 years

Summary of RSU and RSA Activity

The table below presents RSU & RSA activity (aggregate fair value in thousands):


	RSU & RSA	Weighted- Average Grant Date Fair Value		Weighted- Average Remaining Contractual Term (years)	Aggregate Fair Value
Outstanding as of September 30, 2019	1,923,980	$	7.19	2.10	$	14,237
Granted	524,093	$	6.21		$	3,257
Vested	(488,913)	$	7.19		$	3,145
Forfeited	(413,875)	$	7.00		$	2,410
Outstanding as of September 30, 2020	1,545,285	$	6.84	1.85	$	11,528
Expected to vest as of September 30, 2020	1,160,925	$	6.72	2.11	$	8,661

Summary of stock appreciation right activity

The table below presents SAR award activity (aggregate intrinsic value in thousands):


	SARs	Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding as of September 30, 2019	433,582	$	6.49	0.93	$	748

Exercised	(226,142)	$	4.58		$	595
Forfeited	(46,630)	$	9.02		$	—
Outstanding as of September 30, 2020	160,810	$	8.45	1.00	$	96
Vested and expected to vest as of September 30, 2020	141,973	$	8.21	1.13	$	96
Exercisable as of September 30, 2020	47,662	$	9.53	0.42	$	12

Summary of fair value assumptions, stock appreciation rights

The range of assumptions used to determine the fair value of outstanding SARs as of September 30, 2020, 2019 and 2018 were as follows:


	Year ended September 30
	2020	2019	2018
Dividend yield	—	—	—
Expected volatility	55.0% - 68.8%	38.2% - 48.8%	34.9% - 53.6%
Risk-free interest rate	0.1% - 0.1%	1.3% - 1.7%	2.6% - 2.8%
Expected term	0.0-2.3 years	0.1-3.3 years	0.1-2.0 years

Summary of fair value assumptions


	Year ended September 30
	2020	2019	2018
Dividend yield	—	—	—
Expected volatility	45.2% - 54.9%	45.5% - 55.0%	50.0% - 54.5%
Risk-free interest rate	0.1% - 1.7%	1.5% - 2.9%	2.0% - 2.5%
Expected holding period (% of remaining term)	30.7% - 100.0%	25.9% - 100.0%	20.3%

Fair Value Measurement (Tables)

12 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Fair value, liabilities measured on recurring basis, unobservable input reconciliation


	Contingent Consideration

Balance at September 30, 2019	$	4,800
Change in fair value of earn-out liability	200
Settlement	$	(5,000)
Balance at September 30, 2020	$	—

Defined Benefit Pension Plan (Tables)

12 Months Ended

Sep. 30, 2020

Retirement Benefits [Abstract]

Schedule of net periodic benefit cost recognized


	Year Ended September 30,
	2020		2019		2018
	(in thousands)
Interest cost	$	431	$	618	$	651
Expected return on plan assets	(797)		(965)		(986)
Amortization of prior service cost	19		—		—
Total net periodic benefit	$	(347)	$	(347)	$	(335)

Schedule of reconciliation of benefit obligations, plan assets, and funded status related to qualified defined benefit pension plan


	Year Ended September 30,
	2020		2019
	(in thousands)
Change in benefit obligation
Beginning balance	$	23,240	$	22,226
Interest cost	431		618
Benefits paid	(597)		(879)
Actuarial loss/(gain)	1,803		2,508
Foreign currency exchange rate changes	1,170		(1,233)
Ending balance	$	26,047	$	23,240


	Year Ended September 30,
	2020		2019
	(in thousands)
Change in plan assets
Beginning balance at fair value	$	25,779	$	25,132
Actual return on plan assets	297		3,003
Benefits paid	(597)		(879)

Foreign currency exchange rate changes	1,292		(1,477)
Ending balance at fair value	$	26,771	$	25,779
Overfunded status of the Scheme	$	724	$	2,539

Schedule of amount recognized in other comprehensive loss related to qualified defined benefit pension plan, net of tax


	Year Ended September 30,
	2020		2019
	(in thousands)
Accumulated other comprehensive income at beginning of year	$	303	$	892
Net actuarial loss	(2,293)		(540)
Foreign currency translation adjustments	19		(49)
Accumulated other comprehensive income (loss) at end of year	$	(1,971)	$	303

Schedule of actuarial assumptions used to determine (benefit) obligations and net periodic benefit cost

The actuarial assumptions used to determine the benefit obligations at September 30, 2020 and 2019, and to determine the net periodic (benefit) cost for the year were as follows:


	September 30, 2020		September 30, 2019
Discount rate to determine net periodic (benefit) cost	1.80	%	2.90	%
Expected return on plan assets	3.00	%	4.00	%
Discount rate to determine benefit obligations	1.60	%	1.80	%
Rate of increases to deferred CPI linked benefits	2.50	%	2.10	%
Rate of increases to deferred RPI linked benefits	3.00	%	3.20	%

Schedule of expected benefit payments to participants

The Company's pension plan expects to make the following benefit payments to participants over the next 10 years:


	Pension Benefits
	(in thousands)
Year ending September 30,
2021	$	740
2022	869
2023	758
2024	1,168
2025	1,013
2026 through 2030	5,020
Total	$	9,568

Schedule of allocation of plan assets

The assets consisted of the following as of September 30, 2020 and 2019:


	2020		2019
Equity securities	20.6	%	19.7	%
Corporate bonds	53.0	%	56.4	%
Diversified fund	26.0	%	23.5	%
Cash	0.4	%	0.4	%
Total	100.0	%	100.0	%

Schedule of fair value of assets of qualified defined benefit pension plan by asset category and level within fair value hierarchy

The following table presents the fair value of the assets of the Company's qualified defined benefit pension plan by asset category and their level within the fair value hierarchy.


Balance as of September 30, 2020	Level 1		Level 2		Level 3		Total
	(in thousands)
Equity securities	$	—	$	5,526	$	—	$	5,526
Corporate bonds	—		14,194		—		14,194
Diversified fund	—		6,957		—		6,957
Cash	94		—		—		94
Total	$	94	$	26,677	$	—	$	26,771


Balance as of September 30, 2019	Level 1		Level 2		Level 3		Total
	(in thousands)
Equity securities	$	—	$	5,077	$	—	$	5,077
Corporate bonds	—		14,546		—		14,546
Diversified fund	—		6,062		—		6,062
Cash	94		—		—		94
Total	$	94	$	25,685	$	—	$	25,779

Business Realignment Expenses (Tables)

12 Months Ended

Sep. 30, 2020

Restructuring and Related Activities [Abstract]

Schedule of significant components and activity in business realignment initiatives

The table below sets forth the significant components and activity in the liability for business realignment initiatives during the year ended September 30, 2020, 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 September 30, 2020
Employee severance and benefit costs:
GovDeals	$	—	$	—	$	—	$	—	$	—	$	29	$	(25)	$	4
RSCG	—		—		—		—		—		84		(64)		20
CAG	89		443		(118)		414		—		120		(481)		53
Corporate & Other	21		1,537		(1,320)		238		—		172		(410)		—
Total employee severance and benefit costs	110		1,980		(1,438)		652		—		405		(980)		77
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)	$	405	$	(980)	$	77

Segment Information (Tables)

12 Months Ended

Sep. 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:


		Year Ended September 30,
(in thousands)		2020		2019		2018
GovDeals:
	Revenue	$	—	$	—	$	—
	Fee revenue	32,806		32,936		30,214
	Total revenue	32,806		32,936		30,214
	Gross profit	30,721		30,386		27,990

RSCG:
	Revenue	118,398		110,736		88,295
	Fee revenue	18,093		16,585		13,659
	Total revenue	136,491		127,321		101,954
	Gross profit	49,727		44,967		33,009

CAG:
	Revenue	9,182		36,684		57,717
	Fee revenue	20,299		23,558		30,308
	Total revenue	29,481		60,242		88,025
	Gross profit	22,714		32,679		48,873

Machinio:
	Revenue	—		—		—
	Fee revenue	7,213		5,598		653
	Total revenue	7,213		5,598		653
	Gross profit	6,813		5,196		501

Corporate & Other, including elimination adjustments:
	Revenue	—		469		3,665
	Fee revenue	(51)		(41)		3
	Total revenue	(51)		428		3,668
	Gross profit	(51)		52		(661)

Consolidated:
	Revenue	127,580		147,889		149,677
	Fee revenue	78,360		78,636		74,837
	Total revenue	205,940		226,525		224,514
	Gross profit	109,924		113,280		109,712

Reconciliation of revenue from segments to consolidated

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


		Year Ended September 30,
(in thousands)		2020	2019	2018
Reconciliation:
	Gross profit	109,924	113,280	109,712
	Operating expenses	113,248	127,739	130,048
	Other operating expenses	573	5,049	1,392
	Interest and other income, net	(924)	(1,448)	(785)
	Loss before provision for income taxes	(2,973)	(18,060)	(20,943)

Reconciliation of assets from segment to consolidated

Total segment assets reconciled to consolidated amounts are as follows:


	September 30,
(in thousands)	2020			2019
Segment Assets:
GovDeals	$	102,083		$	75,218
RSCG	51,230			27,075
CAG	107,529			128,918
Machinio	26,568			26,613
Corporate & Other, including elimination adjustments	(90,776)			(70,541)
Total Segment Assets:	$	196,634	196634000	$	187,283

Revenue by geographical areas

Revenue attributed to countries that represent a significant portion of consolidated revenues are as follows:


	Year Ended September 30,
(in thousands)	2020		2019		2018
United States	$	180,887	$	191,816	$	193,240
Rest of the world	25,053		34,709		31,274
Consolidated	$	205,940	$	226,525	$	224,514

Long-lived assets by geographical areas

Total property and equipment by geographic areas are as follows:


	September 30,
(in thousands)	2020		2019
United States	$	17,358	$	18,455
Rest of the world	485		391
Consolidated	$	17,843	$	18,846

Quarterly Results (Unaudited) (Tables)

12 Months Ended

Sep. 30, 2020

Quarterly Financial Information Disclosure [Abstract]

Schedule of unaudited quarterly consolidated statement of operations data


	Three months ended
	Dec. 31, 2018		Mar. 31, 2019		June 30, 2019		Sept. 30, 2019		Dec. 31, 2019		Mar. 31, 2020		June 30, 2020		Sept. 30, 2020
	(in thousands, except share and per share data)
Revenue	$	54,053	$	56,800	$	56,882	$	58,790	$	49,504	$	52,824	$	47,722	$	55,890
Gross profit (excludes depreciation and amortization)	$	26,473	$	29,218	$	28,551	$	29,038	$	25,328	$	26,205	$	25,228	$	33,163
Income (loss) before provision for income taxes	$	(4,756)	$	(4,034)	$	(4,107)	$	(5,163)	$	(4,738)	$	(4,195)	$	422	$	5,538
Net income (loss)	$	(5,022)	$	(4,362)	$	(4,649)	$	(5,227)	$	(5,196)	$	(4,238)	$	213	$	5,447
Basic income (loss) per common share	$	(0.15)	$	(0.13)	$	(0.14)	$	(0.16)	$	(0.15)	$	(0.13)	$	0.01	$	0.16
Diluted income (loss) per common share	$	(0.15)	$	(0.13)	$	(0.14)	$	(0.16)	$	(0.15)	$	(0.13)	$	0.01	$	0.16
Basic weighted average shares outstanding	32,808,144		32,987,608		33,164,750		33,291,275		33,545,235		33,624,889		33,695,936		33,584,040
Diluted weighted average shares outstanding	32,808,144		32,987,608		33,164,750		33,291,275		33,545,235		33,624,889		33,815,332		33,986,862

Organization (Details)	12 Months Ended
Organization (Details)	Sep. 30, 2020 category reportablesegment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of product categories offered (in categories) \| category	500
Reportable segments (in segments) \| reportablesegment	4

Summary of Significant Accounting Policies - Short-term Investments (Details)	Sep. 30, 2020	Sep. 30, 2019
Minimum
Short-term Debt [Line Items]
Interest rate	1.97%	1.97%
Maximum
Short-term Debt [Line Items]
Interest rate	2.50%	2.50%

Summary of Significant Accounting Policies - Inventory (Details) - USD ($) $ in Millions	Sep. 30, 2020	Sep. 30, 2019
Accounting Policies [Abstract]
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount	$ 0.3	$ 0.3

Summary of Significant Accounting Policies - Other Assets (Details) - USD ($) $ in Thousands		12 Months Ended
	Oct. 10, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2016
Receivables with Imputed Interest [Line Items]
Interest income		$ 924	$ 1,448	$ 785
Tanager Acquisitions Promissory Note
Receivables with Imputed Interest [Line Items]
Receivable with imputed interest, face amount					$ 12,300
Receivable with imputed interest, term (in years)					5 years
Proceeds from collection of notes receivable	$ 2,500	6,900
Interest income	400
Prepayment discount	$ 500
Receivable with imputed interest, net amount		5,400
Tanager Acquisitions Promissory Note \| Other Assets
Receivables with Imputed Interest [Line Items]
Receivable with imputed interest, net amount		3,800
Tanager Acquisitions Promissory Note \| Prepaid Expenses and Other Current Assets
Receivables with Imputed Interest [Line Items]
Receivable with imputed interest, net amount		$ 1,600

Summary of Significant Accounting Policies - PP&E (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Property and Equipment
Increase in amortization					$ 0.1
Scenario, Forecast
Property and Equipment
Increase in amortization			$ 0.7
Computers and purchased software \| Minimum
Property and Equipment
Estimated useful life				1 year
Computers and purchased software \| Maximum
Property and Equipment
Estimated useful life				5 years
Office/operational equipment \| Minimum
Property and Equipment
Estimated useful life				3 years
Office/operational equipment \| Maximum
Property and Equipment
Estimated useful life				5 years
Furniture and fixtures \| Minimum
Property and Equipment
Estimated useful life				5 years
Furniture and fixtures \| Maximum
Property and Equipment
Estimated useful life				7 years
Internally developed software for internal-use
Property and Equipment
Estimated useful life	5 years	7 years		5 years
Building
Property and Equipment
Estimated useful life				39 years
Vehicles
Property and Equipment
Estimated useful life				5 years

Summary of Significant Accounting Policies - Intangible Assets and Impairment of Long-Lived Assets (Details) - USD ($)	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Intangible Assets
Impairment of long-lived assets	$ 0	$ 0	$ 0

Summary of Significant Accounting Policies - Deferred Revenue (Details)	12 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Timing of revenue recognition	Deferred revenue is primarily derived from Machinio and MachineryHost subscriptions that range from one to forty months

Summary of Significant Accounting Policies - Performance Obligations (Details) - USD ($) $ in Millions	Sep. 30, 2020	Sep. 30, 2019
Accounting Policies [Abstract]
Contract liability	$ 3.3	$ 3.0

Summary of Significant Accounting Policies - Contract Assets and Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Accounting Policies [Abstract]
Contract liability	$ 3.3	$ 3.0
Contract asset	0.4	0.3
Contract liability recognized as revenue	3.0
Contract costs	$ 0.7	$ 0.5

Summary of Significant Accounting Policies - Concentration (Details) - contract	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
U.S. Department of Defense
Risk Associated with Certain Concentrations
Number of contracts	2	2	2
U.S. Department of Defense \| Revenue \| Surplus Contract
Risk Associated with Certain Concentrations
Concentration risk (as a percent)		0.00%	12.40%
U.S. Department of Defense \| Revenue \| Scrap Contract
Risk Associated with Certain Concentrations
Concentration risk (as a percent)		7.40%	10.20%
Supplier Concentration Risk \| Cost of Goods Sold \| Contract with commercial client
Risk Associated with Certain Concentrations
Concentration risk (as a percent)	55.10%	43.60%	33.70%
Maximum
Risk Associated with Certain Concentrations
Term for release of funds to the seller	30 days

Summary of Significant Accounting Policies - Income Taxes (Details) $ in Millions	12 Months Ended
	Sep. 30, 2020 USD ($)
Accounting Policies [Abstract]
Interest expense	$ 0.2

Summary of Significant Accounting Policies - Stock-Based Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201602Member	us-gaap:AccountingStandardsUpdate201409Member	us-gaap:AccountingStandardsUpdate201609Member
Accumulated deficit	$ (122,346)			$ (118,572)
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated deficit			$ (200)
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Shares and options vesting period	1 year
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Shares and options vesting period	4 years

- Definition

Indicates amendment to accounting standards.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(1)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (f)(2)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121646688&loc=SL121648383-210437

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (f)(1)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(i)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121646688&loc=SL121648383-210437

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (h)(2)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(3)
-URI http://asc.fasb.org/extlink&oid=121646688&loc=SL121648383-210437

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(4)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(3)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iv)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(iii)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (h)(1)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 24: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)(2)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22499-107794

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (e)(4)
-URI http://asc.fasb.org/extlink&oid=121646688&loc=SL121648383-210437

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121646688&loc=SL121648383-210437

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 65
-Paragraph 15
-Subparagraph (g)(2)
-URI http://asc.fasb.org/extlink&oid=121322162&loc=SL121327923-165333

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 10
-Section 65
-Paragraph 4
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121646688&loc=SL121648383-210437

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 40
-Section 65
-Paragraph 2
-Subparagraph (g)(2)(ii)
-URI http://asc.fasb.org/extlink&oid=121370832&loc=SL117420844-207641

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (d)(2)

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 65
-Paragraph 8
-Subparagraph (d)(3)

+ Details

Summary of Significant Accounting Policies - Advertising Costs and AOCI (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Advertising Costs
Advertising costs	$ 2,600	$ 2,700	$ 3,600
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	116,175	129,654	132,636
Current-period other comprehensive (loss) income	(1,809)	(1,524)	(18)
Balance	111,815	116,175	129,654
Foreign Currency Translation Adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	(8,569)	(7,585)	(6,794)
Current-period other comprehensive (loss) income	484	(984)	(791)
Balance	(8,085)	(8,569)	(7,585)
Net Change Pension and Other Postretirement Benefit Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	596	1,136	363
Current-period other comprehensive (loss) income	(2,293)	(540)	773
Balance	(1,697)	596	1,136
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	(7,973)	(6,449)	(6,431)
Balance	$ (9,782)	$ (7,973)	$ (6,449)

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

Summary of Significant Accounting Policies - Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Oct. 01, 2019	Sep. 30, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease assets	$ 10,561
Total lease liabilities	$ 11,317
Cumulative Effect, Period of Adoption, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease assets		$ 11,300
Total lease liabilities		$ 12,200	$ 12,200

DoD Contracts with DLA Disposition Services (Details) - contract	9 Months Ended	12 Months Ended
	Jun. 30, 2018	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
U.S. Department of Defense
Significant Contracts
Number of contracts		2	2	2
Scrap Contract
Significant Contracts
Adjusted percentage of profit sharing distribution		64.50%
Scrap Contract \| U.S. Department of Defense \| Revenue
Significant Contracts
Concentration risk (as a percent)			7.40%	10.20%
Surplus Contract \| U.S. Department of Defense \| Revenue
Significant Contracts
Concentration risk (as a percent)			0.00%	12.40%
Surplus Contract \| Non-rolling stock surplus contract
Significant Contracts
Usable surplus property to be purchased as a fixed percentage of DoD's original acquisition value	4.35%
Profits from resale of the property (as a percent)	100.00%

Acquisition - Narrative (Details)		12 Months Ended
Acquisition - Narrative (Details)	Jul. 10, 2018 USD ($)	Sep. 30, 2018 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2017 USD ($)
Business Acquisition [Line Items]
Goodwill		$ 59,819,000	$ 59,839,000	$ 59,467,000	$ 45,388,000
Machinio
Business Acquisition [Line Items]
Percentage acquired	100.00%
Consideration paid	$ 19,900,000
Cash	1,500,000
Purchase price, net	16,700,000
Value of stock issued	2,000,000.0
Maximum earn-out	5,000,000.0
Fair value of earn-out	1,200,000
Value of shares issued	4,700,000
Goodwill	14,558,000
Goodwill deductible for tax purposes	$ 0
Net sales since acquisition date		700,000
Net operating loss since acquisition		$ 900,000
Level 3 \| Minimum \| Measurement Input, Discount Rate
Business Acquisition [Line Items]
Intangible assets, measurement input			0.30
Deferred revenue, measurement input			0.30
Contingent consideration, measurement input			0.12
Level 3 \| Maximum \| Measurement Input, Discount Rate
Business Acquisition [Line Items]
Intangible assets, measurement input			0.35
Deferred revenue, measurement input			0.35
Contingent consideration, measurement input			0.17

Acquisition - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018	Jul. 10, 2018	Sep. 30, 2017
Business Acquisition [Line Items]
Goodwill	$ 59,839	$ 59,467	$ 59,819		$ 45,388
Machinio
Business Acquisition [Line Items]
Other Current Assets				$ 106
Goodwill				14,558
Property and equipment and other long-term assets				252
Liabilities excluding deferred revenue				(956)
Deferred revenue				(1,400)
Total consideration				19,860
Customer relationships intangible asset \| Machinio
Business Acquisition [Line Items]
Intangible assets				3,100
Developed technology intangible asset \| Machinio
Business Acquisition [Line Items]
Intangible assets				2,700
Trade name intangible asset \| Machinio
Business Acquisition [Line Items]
Intangible assets				$ 1,500

Acquisition - Pro Forma (Details) - Machinio $ in Thousands	12 Months Ended
Acquisition - Pro Forma (Details) - Machinio $ in Thousands	Sep. 30, 2018 USD ($)
Business Acquisition [Line Items]
Revenue	$ 228,484
Net loss	$ (12,857)

Property and Equipment (Details) - USD ($)	12 Months Ended
Property and Equipment (Details) - USD ($)	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Property and Equipment
Property, plant, and equipment	$ 32,398,000	$ 29,412,000
Less: Accumulated depreciation and amortization	(14,555,000)	(10,566,000)
Property and equipment, net	17,843,000	18,846,000
Depreciation and amortization	4,900,000	3,700,000	$ 4,200,000
Impairment of long-lived assets	0	0	0
Computers and purchased software
Property and Equipment
Property, plant, and equipment	2,060,000	2,234,000
Internally developed software for internal-use
Property and Equipment
Property, plant, and equipment	13,860,000	12,166,000
Depreciation and amortization	2,900,000	1,200,000	$ 1,400,000
Office/Operational equipment
Property and Equipment
Property, plant, and equipment	5,781,000	6,154,000
Leasehold improvements
Property and Equipment
Property, plant, and equipment	3,451,000	2,965,000
Building
Property and Equipment
Property, plant, and equipment	2,151,000	2,604,000
Furniture and fixtures
Property and Equipment
Property, plant, and equipment	945,000	1,075,000
Vehicles
Property and Equipment
Property, plant, and equipment	1,043,000	1,091,000
Land
Property and Equipment
Property, plant, and equipment	754,000	754,000
Construction in progress
Property and Equipment
Property, plant, and equipment	$ 2,353,000	$ 369,000

Leases - Narrative (Details)	Sep. 30, 2020
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	5 years 3 months 18 days

Leases - Lease Expense (Details) $ in Thousands	12 Months Ended
Leases - Lease Expense (Details) $ in Thousands	Sep. 30, 2020 USD ($)
Leases [Abstract]
Finance lease – lease asset amortization	$ 69
Finance lease – interest on lease liabilities	23
Operating lease cost	5,264
Short-term lease cost	125
Variable Lease, Cost	1,463
Sublease income	(258)
Total net lease cost	$ 6,686

Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Sep. 30, 2020 USD ($)
Operating Leases
2021	$ 4,421
2022	3,097
2023	2,484
2024	1,525
2024	988
Thereafter	208
Total lease payments	12,723
Less: imputed interest	(1,406)
Total lease liabilities	11,317
Finance Leases
2021	56
2022	55
2023	56
2024	56
2024	55
Thereafter	50
Total lease payments	328
Less: imputed interest	(62)
Total lease liabilities	$ 266
Operating lease, weighted average remaining lease term	3 years 6 months
Finance lease, weighted average remaining lease term	5 years 9 months 18 days
Operating lease, weighted average discount rate, percent	6.60%
Finance lease, weighted average discount rate, percent	7.50%

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018	Oct. 01, 2019
Lessee, Lease, Description [Line Items]
Cash paid for amounts included in operating lease liabilities	$ 4,771
Payments of the principal portion of finance lease liabilities	34	$ 0	$ 0
Non-cash: lease liabilities arising from new operating lease assets obtained	12,190
Non-cash: lease liabilities arising from new finance lease assets obtained	10
Non-cash: adjustments to lease assets and liabilities	3,942
Total lease liabilities	$ 11,317
Cumulative Effect, Period of Adoption, Adjustment
Lessee, Lease, Description [Line Items]
Total lease liabilities		$ 12,200		$ 12,200

Goodwill - Narrative (Details) - USD ($)	3 Months Ended	6 Months Ended
Goodwill - Narrative (Details) - USD ($)	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Accumulated goodwill impairment loss	$ 168,600,000		$ 168,600,000
Percentage of fair value in excess of carrying value	20.00%
Goodwill impairment	$ 0	$ 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%

Goodwill - Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Goodwill [Roll Forward]
Balance at the beginning of the period	$ 59,467	$ 59,819	$ 45,388
Business acquisition			14,558
Translation adjustments	372	(352)	(127)
Balance at the end of the period	59,839	59,467	59,819
CAG
Goodwill [Roll Forward]
Balance at the beginning of the period	21,178	21,530	21,657
Business acquisition			0
Translation adjustments	372	(352)	(127)
Balance at the end of the period	21,550	21,178	21,530
GovDeals
Goodwill [Roll Forward]
Balance at the beginning of the period	23,731	23,731	23,731
Business acquisition			0
Translation adjustments	0	0	0
Balance at the end of the period	23,731	23,731	23,731
Machinio
Goodwill [Roll Forward]
Balance at the beginning of the period	14,558	14,558	0
Business acquisition			14,558
Translation adjustments	0	0	0
Balance at the end of the period	$ 14,558	$ 14,558	$ 14,558

Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended	6 Months Ended	12 Months Ended
Intangible Assets - Narrative (Details) - USD ($)	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Intangible Assets
Gross Carrying Amount	$ 8,129,000		$ 8,129,000	$ 8,076,000
Accumulated Amortization	(3,371,000)		(3,371,000)	(2,033,000)
Net Carrying Amount	4,758,000		4,758,000	6,043,000
Amortization expense			1,300,000	1,300,000	$ 400,000
Write off of intangible asset			$ 0	0	$ 0
Goodwill impairment	0	$ 0
Contract intangibles
Intangible Assets
Useful Life (in years)			6 years
Gross Carrying Amount	3,100,000		$ 3,100,000	3,100,000
Accumulated Amortization	(1,162,000)		(1,162,000)	(646,000)
Net Carrying Amount	1,938,000		$ 1,938,000	$ 2,454,000
Contract intangibles \| Weighted Average
Intangible Assets
Useful Life (in years)				6 years
Brand and technology
Intangible Assets
Useful Life (in years)			5 years
Gross Carrying Amount	2,700,000		$ 2,700,000	$ 2,700,000
Accumulated Amortization	(1,215,000)		(1,215,000)	(675,000)
Net Carrying Amount	1,485,000		1,485,000	$ 2,025,000
Brand and technology \| Weighted Average
Intangible Assets
Useful Life (in years)				5 years
Patent and trademarks
Intangible Assets
Gross Carrying Amount	2,329,000		2,329,000	$ 2,276,000
Accumulated Amortization	(994,000)		(994,000)	(712,000)
Net Carrying Amount	$ 1,335,000		$ 1,335,000	$ 1,564,000
Patent and trademarks \| Minimum
Intangible Assets
Useful Life (in years)			7 years
Patent and trademarks \| Maximum
Intangible Assets
Useful Life (in years)			10 years
Patent and trademarks \| Weighted Average
Intangible Assets
Useful Life (in years)				8 years

Intangible Assets - Future Amortization (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 30, 2019
Future expected amortization of intangible assets
2021	$ 1,336
2022	1,328
2023	1,184
2024	645
2025	265
Thereafter	0
Net Carrying Amount	$ 4,758	$ 6,043

Commitments and Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Leases, Operating [Abstract]
Deferred rent charges included in other long-term liabilities	$ 400
Rent expense	5,900	$ 10,700
Operating Lease Payments
2020	5,572
2021	3,551
2022	2,279
2023	1,500
2024	545
Total future minimum lease payments	13,447
Capital Lease Payments
2020	52
2021	53
2022	53
2023	54
2024	160
Total future minimum lease payments	372
Total
2020	5,624
2021	3,604
2022	2,332
2023	1,554
2024	705
Total future minimum lease payments	13,819
Tax liability accrued	$ 600

The 401(k) Benefit Plan (Details) - USD ($) $ in Millions	12 Months Ended
The 401(k) Benefit Plan (Details) - USD ($) $ in Millions	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Retirement Benefits [Abstract]
Amount contributed and recorded expense under the 401(k) Benefit Plan	$ 0.9	$ 1.6	$ 1.4

Income Taxes - Provision (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes - Provision (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Current tax provision (benefit):
U.S. Federal	$ 0	$ 0	$ 108
State	382	453	714
Foreign	313	611	795
Current income tax expense	695	1,064	1,617
Deferred tax (benefit) expense:
U.S. Federal	74	103	(6,796)
State	(27)	(31)	(4,182)
Foreign	59	64	33
Total deferred tax (benefit) expense	106	136	(10,945)
Total (benefit) provision	$ 801	$ 1,200	$ (9,328)

Income Taxes - Deferred Tax Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 30, 2019
Deferred tax assets:
Net operating losses—Foreign	$ 12,709	$ 13,009
Net operating losses—U.S.	35,126	34,856
Accrued vacation and bonus	571	674
Inventory capitalization	54	226
Allowance for doubtful accounts	65	87
Stock compensation expense	1,804	1,989
Operating lease assets	2,236	0
Restructuring costs	0	42
Depreciation	1,266	485
Other	893	953
Total deferred tax assets before valuation allowance	54,724	52,321
Less: valuation allowance	(41,788)	(41,909)
Net deferred tax assets	12,936	10,412
Deferred tax liabilities:
Amortization of intangibles	291	408
Amortization of goodwill	6,666	6,374
Depreciation	0	0
Capitalized costs	4,470	3,730
Operating lease liabilities	2,059	0
Pension liability	138	482
Total deferred tax liabilities	13,624	10,994
Net deferred taxes	$ (688)	$ (582)

Income Taxes - Reconciliation (Details)	12 Months Ended
Income Taxes - Reconciliation (Details)	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Reconciliation of the U.S. federal statutory rate to the effective rate for continuing operations
U.S. statutory rate (as a percent)	21.00%	21.00%	24.50%
Stock based compensation (as a percent)	(14.90%)	(2.00%)	(0.70%)
Non deductible compensation expense (as a percent)	(6.00%)	(0.60%)	0.00%
Permanent items (as a percent)	(1.10%)	(4.20%)	(0.50%)
State taxes (as a percent)	(13.20%)	(0.40%)	0.10%
Net foreign rate differential (as a percent)	(0.80%)	(0.60%)	(1.30%)
Unrecognized tax benefits (as a percent)	5.10%	(1.50%)	(0.50%)
Change in valuation allowance (as a percent)	9.90%	(22.50%)	(31.60%)
Benefit from new Tax Act (as a percent)	0.00%	0.00%	51.30%
Write-down of deferred tax assets on share-based stock compensation (as a percent)	(12.30%)	(7.90%)	0.00%
Write-down of deferred tax assets on net operating loss (as a percent)	(0.159)	0.106	0
Other (as a percent)	1.30%	1.50%	3.30%
Provision for income taxes (as a percent)	(26.90%)	(6.60%)	44.60%

Income Taxes - CarryForwards (Details) - USD ($) $ in Thousands		12 Months Ended
	Jul. 10, 2018	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Net operating loss (NOL) carryforwards
Deferred tax assets related to available federal and state NOL carryforwards		$ 27,700	$ 27,900
Deferred tax assets related to available foreign NOL carryforwards		12,709	13,009
Alternative minimum tax, refund		1,700
Increase (decrease) in valuation allowance		(100)
Valuation allowance		41,788	41,909
Undistributed foreign earnings		4,500
Cash and cash equivalents held overseas on which taxes would be incurred upon repatriation		19,500	21,000
Reconciliation of unrecognized tax benefits
Beginning balance		273	0	$ 0
Additions based on positions related to the current year		0	0	0
Additions for tax positions of prior years		0	273	107
Reductions for tax positions of prior years		(150)	0	(107)
Settlements		0	0	0
Ending balance		123	$ 273	$ 0
Foreign
Net operating loss (NOL) carryforwards
NOL's subject to expiration		200
Reconciliation of unrecognized tax benefits
Unrecognized tax benefits related to foreign operations		200
Machinio
Net operating loss (NOL) carryforwards
Percentage acquired	100.00%
Consideration paid	$ 19,900
Acquisition, deferred tax liability	$ 700
Acquisition, net operating loss		1,400
Machinio \| Deferred Tax Asset Related To Business Acquisition
Net operating loss (NOL) carryforwards
Increase (decrease) in valuation allowance		$ 700

Equity Transactions - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for issuance (in shares)	19,100,000
Reserve shares counted per share granted from fungible share pool (in shares)	1.5
Remaining shares reserved for issuance (in shares)	3,087,929
Stock compensation awards, total liability	$ 102	$ 758
Stock compensation awards, current portion	$ 61	$ 707
Weighted average grant date fair value of options granted (in dollars per share)	$ 2.66	$ 2.70	$ 2.04
Intrinsic value of options exercised	$ 92	$ 307	$ 30
Common stock repurchases	$ 3,983
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options not yet exercisable (in shares)	1,762,671
Options, service-based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options not yet exercisable (in shares)	707,834
Unrecognized compensation cost	$ 1,600
Weighted average vesting period for unrecognized compensation cost	2 years 8 months 12 days
Options, service-based \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Stock options, expiration term	5 years
Options, service-based \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Stock options, expiration term	10 years
Options, service and performance or market based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options not yet exercisable (in shares)	1,054,837
Restricted stock units and restricted stock awards, service based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested shares (in shares)	629,303
Restricted stock units and restricted stock awards, service and performance or market based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested shares (in shares)	915,982
Restricted stock unit, service based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average vesting period for unrecognized compensation cost	2 years 6 months
Unrecognized compensation cost, excluding options	$ 2,600
Restricted stock unit, service based \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Restricted stock unit, service based \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Stock appreciation rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested shares (in shares)	113,148
Cash paid to settle stock appreciation rights	$ 600	$ 500	$ 200
Stock appreciation rights, weighted-average fair value (in dollars per share)	$ 0.63	$ 1.67
Stock appreciation rights, service based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average vesting period for unrecognized compensation cost	2 years 3 months 18 days
Nonvested shares (in shares)	37,974
Unrecognized compensation cost, excluding options	$ 100
Stock appreciation rights, service and performance or market based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested shares (in shares)	75,174
Stock options, RSUs and RSAs, performance based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average vesting period for unrecognized compensation cost	1 year 1 month 6 days
Unrecognized compensation costs	$ 100
Stock options, RSUs and SARS, market based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Unrecognized compensation cost	$ 1,000
Weighted average vesting period for unrecognized compensation cost	9 months 18 days
Average share price term	20 days
Treasury Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares repurchased (in shares)	547,508
Common stock repurchases	$ 4,000
Remaining repurchase amount	$ 6,100

Equity Transactions - Stock Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock compensation expense	$ 5,660	$ 6,508	$ 6,597
Stock options
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock compensation expense	2,054	1,530	858
RSUs & RSAs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock compensation expense	3,635	4,496	5,454
SARs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock compensation expense	$ (29)	$ 482	$ 285

Equity Transactions - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Stock Options
Outstanding as of September 30, 2018 (in shares)	2,672,278
Granted (in shares)	818,519
Exercised (in shares)	(28,399)
Forfeited (in shares)	(282,266)
Expired (in shares)	(104,218)
Outstanding as of September 30, 2019 (in shares)	3,075,914	2,672,278
Vested and expected to vest as of September 30, 2019 (in shares)	2,951,816
Exercisable as of September 30, 2019 (in shares)	1,313,243
Weighted- Average Exercise Price
Outstanding as of September 30, 2018 (in dollars per share)	$ 9.50
Granted (in dollars per share)	6.82
Exercised (in dollars per share)	3.91
Forfeited (in dollars per share)	12.16
Expired (in dollars per share)	11.12
Outstanding as of September 30, 2019 (in dollars per share)	8.54	$ 9.50
Vested and expected to vest as of September 30, 2019 (in dollars per share)	8.60
Exercisable as of September 30, 2019 (in dollars per share)	$ 11.15
Weighted- Average Remaining Contractual Term (years)
Outstanding, weighted-average remaining contractual term	6 years 1 month 28 days	6 years 1 month 13 days
Vested and expected to vest, weighted average remaining contractual term	6 years 1 month 20 days
Exercisable, weighted-average remaining contractual term	4 years 7 months 9 days
Aggregate Intrinsic Value
Outstanding as of September 30, 2018, aggregate intrinsic value	$ 2,502
Granted, aggregate intrinsic value	0
Exercised, aggregate intrinsic value	92	$ 307	$ 30
Forfeited, aggregate intrinsic value	58
Expired, aggregate intrinsic value	0
Outstanding as of September 30, 2019, aggregate intrinsic value	2,841	$ 2,502
Vested and expected to vest, aggregate intrinsic value	2,742
Exercisable, aggregate intrinsic value	$ 1,199

Equity Transactions - Fair Value (Details)	12 Months Ended
Equity Transactions - Fair Value (Details)	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Stock options
Fair value assumptions
Dividend yield	0.00%	0.00%	0.00%
Expected volatility, minimum (as a percent)	46.50%	47.80%	50.80%
Expected volatility, maximum (as a percent)	51.00%	53.70%	58.60%
Risk free interest rate, minimum (as a percent)	0.50%	1.90%	0.50%
Risk free interest rate, maximum (as a percent)	1.50%	2.80%	2.70%
Expected term		7 years 1 month 6 days	3 years 9 months 18 days
Stock options \| Minimum
Fair value assumptions
Expected term	4 years 7 months 6 days	4 years 2 months 12 days
Stock options \| Maximum
Fair value assumptions
Expected term	7 years 4 months 24 days
Stock appreciation rights
Fair value assumptions
Dividend yield	0.00%	0.00%	0.00%
Expected volatility, minimum (as a percent)	55.00%	38.20%	34.90%
Expected volatility, maximum (as a percent)	68.80%	48.80%	53.60%
Risk free interest rate, minimum (as a percent)	0.10%	1.30%	2.60%
Risk free interest rate, maximum (as a percent)	0.10%	1.70%	2.80%
Stock appreciation rights \| Minimum
Fair value assumptions
Expected term	0 years	1 month 6 days	1 month 6 days
Stock appreciation rights \| Maximum
Fair value assumptions
Expected term	2 years 3 months 18 days	3 years 3 months 18 days	2 years
Stock options, RSUs and SARS, market based
Fair value assumptions
Dividend yield	0.00%	0.00%	0.00%
Expected volatility, minimum (as a percent)	45.20%	45.50%	50.00%
Expected volatility, maximum (as a percent)	54.90%	55.00%	54.50%
Risk free interest rate, minimum (as a percent)	0.10%	1.50%	2.00%
Risk free interest rate, maximum (as a percent)	1.70%	2.90%	2.50%
Expected holding period (as a percent)		100.00%	20.30%
Stock options, RSUs and SARS, market based \| Minimum
Fair value assumptions
Expected holding period (as a percent)	30.70%	25.90%
Stock options, RSUs and SARS, market based \| Maximum
Fair value assumptions
Expected holding period (as a percent)	100.00%

Equity Transactions - Restricted Stock Units and Restricted Stock Awards (Details) - RSUs & RSAs - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
RSU & RSA
Outstanding as of September 30, 2018 (in shares)	1,923,980
Granted (in shares)	524,093
Exercised (in shares)	(488,913)
Forfeited (in shares)	(413,875)
Outstanding as of September 30, 2019 (in shares)	1,545,285	1,923,980
Expected to vest as of September 30, 2019 (in shares)	1,160,925
Weighted- Average Grant Date Fair Value
Outstanding as of September 30, 2018 (in dollars per share)	$ 7.19
Granted (in dollars per share)	6.21
Exercised (in dollars per share)	7.19
Forfeited (in dollars per share)	7.00
Outstanding as of September 30, 2019 (in dollars per share)	6.84	$ 7.19
Expected to vest as of September 30, 2019 (in dollars per share)	$ 6.72
Additional Disclosures
Outstanding, weighted-average remaining contractual term	1 year 10 months 6 days	2 years 1 month 6 days
Expected to vest as of September 30, 2019, weighted-average remaining contractual term	2 years 1 month 9 days
Aggregate Fair Value
Outstanding as of September 30, 2018, aggregate fair value	$ 14,237
Granted, aggregate fair value	3,257
Exercised, aggregate fair value	3,145
Forfeited, aggregate fair value	2,410
Outstanding as of September 30, 2019, aggregate fair value	11,528	$ 14,237
Expected to vest as of September 30, 2019, aggregate fair value	$ 8,661

Equity Transactions - Stock Appreciation Rights Activity (Details) - Stock appreciation rights - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
SARs
Outstanding as of September 30, 2018 (in shares)	433,582
Exercised (in shares)	(226,142)
Forfeited (in shares)	(46,630)
Outstanding as of September 30, 2019 (in shares)	160,810	433,582
Vested and expected to vest as of September 30, 2019 (in shares)	141,973
Exercisable as of September 30, 2019 (in shares)	47,662
Weighted- Average Exercise Price
Outstanding as of September 30, 2018 (in dollars per share)	$ 6.49
Exercised (in dollars per share)	4.58
Forfeited (in dollars per share)	9.02
Outstanding as of September 30, 2019 (in dollars per share)	8.45	$ 6.49
Vested and expected to vest as of September 30, 2019 (in dollars per share)	8.21
Exercisable as of September 30, 2019 (in dollars per share)	$ 9.53
Weighted- Average Remaining Contractual Term (years)
Outstanding, weighted-average remaining contractual term	1 year	11 months 4 days
Vested and expected to vest as of September 30, 2019, weighted-average remaining contractual term	1 year 1 month 17 days
Exercisable as of September 30, 2019, weighted average remaining contractual term	5 months 1 day
Aggregate Intrinsic Value
Outstanding as of September 30, 2018, aggregate intrinsic value	$ 748
Exercised, aggregate intrinsic value	595
Forfeited, aggregate intrinsic value	0
Outstanding as of September 30, 2019, aggregate intrinsic value	96	$ 748
Vested and expected to vest as of September 30, 2019, aggregate intrinsic value	96
Exercisable as of September 30, 2019, aggregate intrinsic value	$ 12

Fair Value Measurement - Changes in Level 3 Assets (Details) $ in Thousands	12 Months Ended
	Sep. 30, 2020 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Settlement	$ (5,000)
Recurring basis \| Level 3
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance, contingent consideration	4,800
Change in fair value of earn-out liability	200
Ending balance, contingent consideration	$ 0

Fair Value Measurement - Narrative (Details) - USD ($)	Sep. 30, 2020	Sep. 30, 2019
Fair value measurement
Certificates of deposits	$ 30,000,000.0
Money market funds, at carrying value	30,000,000.0
Nonrecurring
Fair value measurement
Fair value, asset (liability)	$ 0	$ 0
Minimum
Fair value measurement
Interest rate	1.97%	1.97%
Maximum
Fair value measurement
Interest rate	2.50%	2.50%

Defined Benefit Pension Plan - Additional Information (Details) $ in Thousands	12 Months Ended
	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2018 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2020 GBP (£)	Sep. 30, 2019 USD ($)
Net periodic benefit cost recognized
Interest cost	$ 431	$ 618	$ 651
Expected return on plan assets	(797)	(965)	(986)
Amortization of prior service cost	19	0	0
Total net periodic benefit	(347)	(347)	(335)
Change in benefit obligation
Beginning balance	23,240	22,226
Interest cost	431	618	651
Benefits paid	(597)	(879)
Actuarial loss/(gain)	1,803	2,508
Foreign currency exchange rate changes	1,170	(1,233)
Ending balance	26,047	23,240	22,226
Change in plan assets
Beginning balance at fair value	25,779	25,132
Actual return on plan assets	297	3,003
Benefits paid	(597)	(879)
Foreign currency exchange rate changes	1,292	(1,477)
Ending balance at fair value	26,771	25,779	25,132
Overfunded status of the Scheme				$ 724		$ 2,539
Benefit obligation	26,047	22,226	22,226	$ 26,047		$ 23,240
Accumulated OCI
Accumulated other comprehensive income at beginning of year	303	892
Net actuarial loss	(2,293)	(540)
Foreign currency translation adjustments	19	(49)
Accumulated other comprehensive income (loss) at end of year	$ (1,971)	$ 303	$ 892
Defined Benefit Plan, Assumptions Used in Calculations [Abstract]
Discount rate to determine net periodic (benefit) cost (as a percentage)	1.80%	2.90%
Expected return on plan assets (as a percentage)	3.00%	4.00%
Discount rate to determine benefit obligations (as a percentage)				1.60%	1.60%	1.80%
Rate of increases to deferred CPI linked benefits (as a percentage)	2.50%	2.10%
Rate of increases to deferred RPI linked benefits (as a percentage)	3.00%	3.20%
Defined benefit plan long term rate of improvement (as a percentage)	1.30%
Expected benefit payments over the next 10 years
2021				$ 740
2022				869
2023				758
2024				1,168
2025				1,013
2026 through 2030				5,020
Total				$ 9,568
Information about plan assets
Actual (as a percent)				100.00%	100.00%	100.00%
Maximum
Defined benefit pension plan
Expected contributions \| £					£ 10,000,000
Males
Defined Benefit Plan, Assumptions Used in Calculations [Abstract]
Defined benefit plan mortality rate (as a percentage)	105.00%
Females
Defined Benefit Plan, Assumptions Used in Calculations [Abstract]
Defined benefit plan mortality rate (as a percentage)	105.00%
Equity securities
Information about plan assets
Actual (as a percent)				20.60%	20.60%	19.70%
Corporate bonds
Information about plan assets
Actual (as a percent)				53.00%	53.00%	56.40%
Diversified fund
Information about plan assets
Actual (as a percent)				26.00%	26.00%	23.50%
Cash
Information about plan assets
Actual (as a percent)				0.40%	0.40%	0.40%

Defined Benefit Pension Plan - Fair Value Estimates (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Defined benefit pension plan
Fair values	$ 26,771	$ 25,779	$ 25,132
Total
Defined benefit pension plan
Fair values	26,771	25,779
Level 1
Defined benefit pension plan
Fair values	94	94
Level 2
Defined benefit pension plan
Fair values	26,677	25,685
Level 3
Defined benefit pension plan
Fair values	0	0
Equity securities \| Total
Defined benefit pension plan
Fair values	5,526	5,077
Equity securities \| Level 1
Defined benefit pension plan
Fair values	0	0
Equity securities \| Level 2
Defined benefit pension plan
Fair values	5,526	5,077
Equity securities \| Level 3
Defined benefit pension plan
Fair values	0	0
Corporate bonds \| Total
Defined benefit pension plan
Fair values	14,194	14,546
Corporate bonds \| Level 1
Defined benefit pension plan
Fair values	0	0
Corporate bonds \| Level 2
Defined benefit pension plan
Fair values	14,194	14,546
Corporate bonds \| Level 3
Defined benefit pension plan
Fair values	0	0
Diversified fund \| Total
Defined benefit pension plan
Fair values	6,957	6,062
Diversified fund \| Level 1
Defined benefit pension plan
Fair values	0	0
Diversified fund \| Level 2
Defined benefit pension plan
Fair values	6,957	6,062
Diversified fund \| Level 3
Defined benefit pension plan
Fair values	0	0
Cash \| Total
Defined benefit pension plan
Fair values	94
Cash \| Level 1
Defined benefit pension plan
Fair values	94
Cash \| Level 2
Defined benefit pension plan
Fair values	0
Cash \| Level 3
Defined benefit pension plan
Fair values	$ 0
Cash \| Total
Defined benefit pension plan
Fair values		94
Cash \| Level 1
Defined benefit pension plan
Fair values		94
Cash \| Level 2
Defined benefit pension plan
Fair values		0
Cash \| Level 3
Defined benefit pension plan
Fair values		$ 0

Business Realignment Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Business realignment expenses rollforward
Liability Balance, beginning	$ 821	$ 1,376
Business Realignment Expenses	405	2,165
Cash Payments	(980)	(2,720)
Liability Balance, ending	$ 77	821	$ 1,376
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201602Member		us-gaap:AccountingStandardsUpdate201409Member	us-gaap:AccountingStandardsUpdate201609Member
Cumulative Effect, Period of Adoption, Adjustment
Business realignment expenses rollforward
Liability Balance, beginning	$ (169)
Liability Balance, ending		(169)
Employee severance and benefit costs
Business realignment expenses rollforward
Liability Balance, beginning	652	110
Business Realignment Expenses	405	1,980
Cash Payments	(980)	(1,438)
Liability Balance, ending	77	652	$ 110
Employee severance and benefit costs \| Cumulative Effect, Period of Adoption, Adjustment
Business realignment expenses rollforward
Liability Balance, beginning	0
Liability Balance, ending		0
Occupancy and other costs
Business realignment expenses rollforward
Liability Balance, beginning	169	1,266
Business Realignment Expenses	0	185
Cash Payments	0	(1,282)
Liability Balance, ending	0	169	1,266
Occupancy and other costs \| Cumulative Effect, Period of Adoption, Adjustment
Business realignment expenses rollforward
Liability Balance, beginning	(169)
Liability Balance, ending		(169)
GovDeals \| Employee severance and benefit costs
Business realignment expenses rollforward
Liability Balance, beginning	0	0
Business Realignment Expenses	29	0
Cash Payments	(25)	0
Liability Balance, ending	4	0	0
GovDeals \| Employee severance and benefit costs \| Cumulative Effect, Period of Adoption, Adjustment
Business realignment expenses rollforward
Liability Balance, beginning	0
Liability Balance, ending		0
RSCG \| Employee severance and benefit costs
Business realignment expenses rollforward
Liability Balance, beginning	0	0
Business Realignment Expenses	84	0
Cash Payments	(64)	0
Liability Balance, ending	20	0	0
RSCG \| Employee severance and benefit costs \| Cumulative Effect, Period of Adoption, Adjustment
Business realignment expenses rollforward
Liability Balance, beginning	0
Liability Balance, ending		0
CAG \| Employee severance and benefit costs
Business realignment expenses rollforward
Liability Balance, beginning	414	89
Business Realignment Expenses	120	443
Cash Payments	(481)	(118)
Liability Balance, ending	53	414	89
CAG \| Employee severance and benefit costs \| Cumulative Effect, Period of Adoption, Adjustment
Business realignment expenses rollforward
Liability Balance, beginning	0
Liability Balance, ending		0
CAG \| Occupancy and other costs
Business realignment expenses rollforward
Liability Balance, beginning	169	459
Business Realignment Expenses	0	51
Cash Payments	0	(341)
Liability Balance, ending	0	169	459
CAG \| Occupancy and other costs \| Cumulative Effect, Period of Adoption, Adjustment
Business realignment expenses rollforward
Liability Balance, beginning	(169)
Liability Balance, ending		(169)
Corporate & Other \| Employee severance and benefit costs
Business realignment expenses rollforward
Liability Balance, beginning	238	21
Business Realignment Expenses	172	1,537
Cash Payments	(410)	(1,320)
Liability Balance, ending	0	238	21
Corporate & Other \| Employee severance and benefit costs \| Cumulative Effect, Period of Adoption, Adjustment
Business realignment expenses rollforward
Liability Balance, beginning	0
Liability Balance, ending		0
Corporate & Other \| Occupancy and other costs
Business realignment expenses rollforward
Liability Balance, beginning	0	807
Business Realignment Expenses	0	134
Cash Payments	0	(941)
Liability Balance, ending	0	0	$ 807
Corporate & Other \| Occupancy and other costs \| Cumulative Effect, Period of Adoption, Adjustment
Business realignment expenses rollforward
Liability Balance, beginning	$ 0
Liability Balance, ending		$ 0

Segment Information - Narrative (Details)	12 Months Ended
Segment Information - Narrative (Details)	Sep. 30, 2020 reportablesegment
Segment Reporting [Abstract]
Reportable segments (in segments)	4

Segment Information - Schedule of Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Total revenue	$ 55,890	$ 47,722	$ 52,824	$ 49,504	$ 58,790	$ 56,882	$ 56,800	$ 54,053	$ 205,940	$ 226,525	$ 224,514
Gross profit	$ 33,163	$ 25,228	$ 26,205	$ 25,328	$ 29,038	$ 28,551	$ 29,218	$ 26,473	109,924	113,280	109,712
Operating Segments \| GovDeals
Segment Reporting Information [Line Items]
Total revenue									32,806	32,936	30,214
Gross profit									30,721	30,386	27,990
Operating Segments \| RSCG
Segment Reporting Information [Line Items]
Total revenue									136,491	127,321	101,954
Gross profit									49,727	44,967	33,009
Operating Segments \| CAG
Segment Reporting Information [Line Items]
Total revenue									29,481	60,242	88,025
Gross profit									22,714	32,679	48,873
Operating Segments \| Machinio
Segment Reporting Information [Line Items]
Total revenue									7,213	5,598	653
Gross profit									6,813	5,196	501
Corporate & Other
Segment Reporting Information [Line Items]
Total revenue									(51)	428	3,668
Gross profit									(51)	52	(661)
Revenue
Segment Reporting Information [Line Items]
Total revenue									127,580	147,889	149,677
Revenue \| Operating Segments \| GovDeals
Segment Reporting Information [Line Items]
Total revenue									0	0	0
Revenue \| Operating Segments \| RSCG
Segment Reporting Information [Line Items]
Total revenue									118,398	110,736	88,295
Revenue \| Operating Segments \| CAG
Segment Reporting Information [Line Items]
Total revenue									9,182	36,684	57,717
Revenue \| Operating Segments \| Machinio
Segment Reporting Information [Line Items]
Total revenue									0	0	0
Revenue \| Corporate & Other
Segment Reporting Information [Line Items]
Total revenue									0	469	3,665
Fee revenue
Segment Reporting Information [Line Items]
Total revenue									78,360	78,636	74,837
Fee revenue \| Operating Segments \| GovDeals
Segment Reporting Information [Line Items]
Total revenue									32,806	32,936	30,214
Fee revenue \| Operating Segments \| RSCG
Segment Reporting Information [Line Items]
Total revenue									18,093	16,585	13,659
Fee revenue \| Operating Segments \| CAG
Segment Reporting Information [Line Items]
Total revenue									20,299	23,558	30,308
Fee revenue \| Operating Segments \| Machinio
Segment Reporting Information [Line Items]
Total revenue									7,213	5,598	653
Fee revenue \| Corporate & Other
Segment Reporting Information [Line Items]
Total revenue									$ (51)	$ (41)	$ 3

Segment Information - Reconciliation from Segments to Consolidated (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting [Abstract]
Gross profit	$ 33,163	$ 25,228	$ 26,205	$ 25,328	$ 29,038	$ 28,551	$ 29,218	$ 26,473	$ 109,924	$ 113,280	$ 109,712
Operating expenses									113,248	127,739	130,048
Other operating expenses									573	5,049	1,392
Interest and other income, net									(924)	(1,448)	(785)
Loss before provision for income taxes	$ 5,538	$ 422	$ (4,195)	$ (4,738)	$ (5,163)	$ (4,107)	$ (4,034)	$ (4,756)	$ (2,973)	$ (18,060)	$ (20,943)

- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.1,2)
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

+ Details

Segment Information - Schedule of Total Segment Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Assets	$ 196,634	$ 187,283
Operating Segments \| GovDeals
Segment Reporting Information [Line Items]
Assets	102,083	75,218
Operating Segments \| CAG
Segment Reporting Information [Line Items]
Assets	107,529	27,075
Operating Segments \| RSCG
Segment Reporting Information [Line Items]
Assets	51,230	128,918
Operating Segments \| Machinio
Segment Reporting Information [Line Items]
Assets	26,568	26,613
Corporate & Other, including elimination adjustments
Segment Reporting Information [Line Items]
Assets	$ (90,776)	$ (70,541)

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (bb)
-URI http://asc.fasb.org/extlink&oid=121559654&loc=d3e5710-111685

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
-Paragraph 25
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=116870748&loc=SL6758485-165988

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(12))
-URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

+ Details

Segment Information - Schedule of Revenues by Country (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Total revenue	$ 55,890	$ 47,722	$ 52,824	$ 49,504	$ 58,790	$ 56,882	$ 56,800	$ 54,053	$ 205,940	$ 226,525	$ 224,514
United States
Segment Reporting Information [Line Items]
Total revenue									180,887	191,816	193,240
Rest of the world
Segment Reporting Information [Line Items]
Total revenue									$ 25,053	$ 34,709	$ 31,274

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Segment Information - Schedule of Total Long-Lived Assets by Geographical Location (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Long-lived assets	$ 17,843	$ 18,846
United States
Segment Reporting Information [Line Items]
Long-lived assets	17,358	18,455
Rest of the world
Segment Reporting Information [Line Items]
Long-lived assets	$ 485	$ 391

Quarterly Results (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Unaudited quarterly consolidated statement of operations
Revenue	$ 55,890	$ 47,722	$ 52,824	$ 49,504	$ 58,790	$ 56,882	$ 56,800	$ 54,053	$ 205,940	$ 226,525	$ 224,514
Gross profit	33,163	25,228	26,205	25,328	29,038	28,551	29,218	26,473	109,924	113,280	109,712
Income (loss) before provision for income taxes	5,538	422	(4,195)	(4,738)	(5,163)	(4,107)	(4,034)	(4,756)	(2,973)	(18,060)	(20,943)
Net loss	$ 5,447	$ 213	$ (4,238)	$ (5,196)	$ (5,227)	$ (4,649)	$ (4,362)	$ (5,022)	$ (3,774)	$ (19,260)	$ (11,615)
Unaudited quarterly consolidated statement of operations
Basic income (loss) per common share (in dollars per share)	$ 0.16	$ 0.01	$ (0.13)	$ (0.15)	$ (0.16)	$ (0.14)	$ (0.13)	$ (0.15)
Diluted income (loss) per common share (in usd per share)	$ 0.16	$ 0.01	$ (0.13)	$ (0.15)	$ (0.16)	$ (0.14)	$ (0.13)	$ (0.15)
Basic and diluted weighted average shares outstanding (in shares)	33,584,040	33,695,936	33,624,889	33,545,235	33,291,275	33,164,750	32,987,608	32,808,144
Diluted weighted average shares outstanding (in shares)	33,986,862	33,815,332	33,624,889	33,545,235	33,291,275	33,164,750	32,987,608	32,808,144

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018
Activity in valuation and qualifying accounts
Balance at beginning of period	$ 300
Balance at end of period	300	$ 300
Deferred tax valuation allowance (deducted from net deferred tax assets)
Activity in valuation and qualifying accounts
Balance at beginning of period	41,909	39,337	$ 54,379
Charged (credited) to expense	(121)	2,572	(15,042)
Reductions	0	0	0
Balance at end of period	41,788	41,909	39,337
Allowance for doubtful accounts (deducted from accounts receivable)
Activity in valuation and qualifying accounts
Balance at beginning of period	291	337	668
Charged (credited) to expense	200	178	199
Reductions	(102)	(224)	(530)
Balance at end of period	389	291	337
Provision for inventory allowance (deducted from inventory)
Activity in valuation and qualifying accounts
Balance at beginning of period	331	503	4,572
Charged (credited) to expense	328	331	2,494
Reductions	(359)	(503)	(6,563)
Balance at end of period	$ 300	$ 331	$ 503