| Revenue Disaggregated by Product Line and Geographic Area |
The following table presents the Company’s revenue disaggregated by product line and geographic area:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Six Months Ended |
|
|
|
September 30, |
|
|
September 30, |
|
Market |
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
Defense |
|
$ |
40,750 |
|
|
$ |
30,897 |
|
|
$ |
70,285 |
|
|
$ |
59,991 |
|
Energy & Process |
|
|
21,278 |
|
|
|
19,250 |
|
|
|
43,852 |
|
|
|
36,160 |
|
Space |
|
|
3,999 |
|
|
|
3,416 |
|
|
|
7,377 |
|
|
|
7,363 |
|
Net sales |
|
$ |
66,027 |
|
|
$ |
53,563 |
|
|
$ |
121,514 |
|
|
$ |
103,514 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Geographic Region |
|
|
|
|
|
|
|
|
|
|
|
|
Asia |
|
$ |
4,452 |
|
|
$ |
4,274 |
|
|
$ |
7,735 |
|
|
$ |
9,576 |
|
Canada |
|
|
3,617 |
|
|
|
1,665 |
|
|
|
7,127 |
|
|
|
2,661 |
|
Middle East |
|
|
1,770 |
|
|
|
794 |
|
|
|
3,116 |
|
|
|
1,777 |
|
South America |
|
|
58 |
|
|
|
314 |
|
|
|
451 |
|
|
|
369 |
|
U.S. |
|
|
55,098 |
|
|
|
45,460 |
|
|
|
101,420 |
|
|
|
86,390 |
|
All other |
|
|
1,032 |
|
|
|
1,056 |
|
|
|
1,665 |
|
|
|
2,741 |
|
Net sales |
|
$ |
66,027 |
|
|
$ |
53,563 |
|
|
$ |
121,514 |
|
|
$ |
103,514 |
|
The following table presents the Company's revenue percentages disaggregated by revenue recognized over time or upon shipment:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Six Months Ended |
|
|
|
September 30, |
|
|
September 30, |
|
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue recognized over time |
|
|
83 |
% |
|
|
79 |
% |
|
|
82 |
% |
|
|
80 |
% |
Revenue recognized at shipment |
|
|
17 |
% |
|
|
21 |
% |
|
|
18 |
% |
|
|
20 |
% |
|
| Schedule of Net Contract Assets (Liabilities) |
Net contract assets (liabilities) consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2025 |
|
|
March 31, 2025 |
|
|
Change |
|
|
|
Change due to revenue recognized |
|
|
Change due to invoicing customers/
additional deposits |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unbilled revenue - contract assets |
|
$ |
50,113 |
|
|
$ |
38,494 |
|
|
$ |
11,619 |
|
|
|
$ |
61,093 |
|
|
$ |
(49,474 |
) |
Customer deposits - contract liabilities |
|
|
(104,918 |
) |
|
|
(84,062 |
) |
|
|
(20,856 |
) |
|
|
|
38,993 |
|
|
|
(59,849 |
) |
Net contract (liabilities) assets |
|
$ |
(54,805 |
) |
|
$ |
(45,568 |
) |
|
$ |
(9,237 |
) |
|
|
|
|
|
|
|
|