Note 17 – Employee Benefit Plans

Effective January 1, 2018, the Company established a 401(k) plan in which substantially all U.S. employees are eligible to participate. Contributions made by employees are limited to the maximum allowable for U.S. federal income tax purposes. The Company matched employee contributions at a rate of 100% of applicable contributions up to 6% of included compensation. Effective January 1, 2024, the Company discontinued matching contributions for U.S. employees. Company contributions to the 401(k) plan were approximately $0.6 million for the year ended September 30, 2023 and $42,000 for the year ended September 30, 2024. The Company plans to reinstate matching contributions for U.S. employees effective January 1, 2025 at up to 4% of included compensation. 

In March 2014, the Company elected to contribute 3% of eligible employee compensation into the personal pension schemes of certain senior U.K. employees. Effective January 1, 2019, this contribution amount was increased to 4%. Company contributions were approximately $29,000 for each of the years ended September 30, 2024 and 2023.