| Revenue Disaggregated by Product Line and Geographic Area |
The following table presents the Company’s revenue disaggregated by market and geographic area:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Six Months Ended |
|
|
|
September 30, |
|
|
September 30, |
|
Market |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Defense |
|
$ |
45,827 |
|
|
$ |
40,750 |
|
|
$ |
87,210 |
|
|
$ |
70,285 |
|
Space |
|
|
6,373 |
|
|
|
3,999 |
|
|
|
12,660 |
|
|
|
7,377 |
|
Energy & Process |
|
|
17,560 |
|
|
|
21,278 |
|
|
|
41,232 |
|
|
|
43,852 |
|
Net sales |
|
$ |
69,760 |
|
|
$ |
66,027 |
|
|
$ |
141,102 |
|
|
$ |
121,514 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Geographic Region |
|
|
|
|
|
|
|
|
|
|
|
|
Asia |
|
$ |
431 |
|
|
$ |
4,452 |
|
|
$ |
1,896 |
|
|
$ |
7,735 |
|
Canada |
|
|
853 |
|
|
|
3,617 |
|
|
|
1,585 |
|
|
|
7,127 |
|
Middle East |
|
|
2,239 |
|
|
|
1,770 |
|
|
|
5,667 |
|
|
|
3,116 |
|
South America |
|
|
332 |
|
|
|
58 |
|
|
|
636 |
|
|
|
451 |
|
U.S. |
|
|
64,811 |
|
|
|
55,098 |
|
|
|
129,274 |
|
|
|
101,420 |
|
All other |
|
|
1,094 |
|
|
|
1,032 |
|
|
|
2,044 |
|
|
|
1,665 |
|
Net sales |
|
$ |
69,760 |
|
|
$ |
66,027 |
|
|
$ |
141,102 |
|
|
$ |
121,514 |
|
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, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue recognized over time |
|
|
74 |
% |
|
|
83 |
% |
|
|
76 |
% |
|
|
82 |
% |
Revenue recognized at shipment |
|
|
26 |
% |
|
|
17 |
% |
|
|
24 |
% |
|
|
18 |
% |
|
| Schedule of Net Contract Assets (Liabilities) |
Net contract assets (liabilities) consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2026 |
|
|
March 31, 2026 |
|
|
Change |
|
|
|
Change due to revenue recognized |
|
|
Change due to invoicing customers/
additional deposits |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unbilled revenue - contract assets |
|
$ |
44,515 |
|
|
$ |
59,868 |
|
|
$ |
(15,353 |
) |
|
|
$ |
64,775 |
|
|
$ |
(80,128 |
) |
Customer deposits - contract liabilities |
|
|
(129,655 |
) |
|
|
(102,421 |
) |
|
|
(27,234 |
) |
|
|
|
44,197 |
|
|
|
(71,431 |
) |
Net contract (liabilities) assets |
|
$ |
(85,140 |
) |
|
$ |
(42,553 |
) |
|
$ |
(42,587 |
) |
|
|
|
|
|
|
|
|