| 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 |
|
|
Nine Months Ended |
|
|
|
December 31, |
|
|
December 31, |
|
Market |
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
Defense |
|
$ |
35,283 |
|
|
$ |
27,023 |
|
|
$ |
105,568 |
|
|
$ |
87,014 |
|
Energy & Process |
|
|
18,287 |
|
|
|
16,193 |
|
|
|
62,139 |
|
|
|
52,353 |
|
Space |
|
|
3,131 |
|
|
|
3,821 |
|
|
|
10,508 |
|
|
|
11,184 |
|
Net sales |
|
$ |
56,701 |
|
|
$ |
47,037 |
|
|
$ |
178,215 |
|
|
$ |
150,551 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Geographic Region |
|
|
|
|
|
|
|
|
|
|
|
|
Asia |
|
$ |
3,425 |
|
|
$ |
2,275 |
|
|
$ |
11,160 |
|
|
$ |
11,851 |
|
Canada |
|
|
2,744 |
|
|
|
2,441 |
|
|
|
9,871 |
|
|
|
5,102 |
|
Middle East |
|
|
1,402 |
|
|
|
1,551 |
|
|
|
4,518 |
|
|
|
3,328 |
|
South America |
|
|
141 |
|
|
|
495 |
|
|
|
592 |
|
|
|
864 |
|
U.S. |
|
|
48,112 |
|
|
|
39,675 |
|
|
|
149,532 |
|
|
|
126,065 |
|
All other |
|
|
877 |
|
|
|
600 |
|
|
|
2,542 |
|
|
|
3,341 |
|
Net sales |
|
$ |
56,701 |
|
|
$ |
47,037 |
|
|
$ |
178,215 |
|
|
$ |
150,551 |
|
The following table presents the Company's revenue percentages disaggregated by revenue recognized over time or upon shipment:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Nine Months Ended |
|
|
|
December 31, |
|
|
December 31, |
|
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue recognized over time |
|
|
79 |
% |
|
|
75 |
% |
|
|
81 |
% |
|
|
79 |
% |
Revenue recognized at shipment |
|
|
21 |
% |
|
|
25 |
% |
|
|
19 |
% |
|
|
21 |
% |
|
| Schedule of Net Contract Assets (Liabilities) |
Net contract assets (liabilities) consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
March 31, 2025 |
|
|
Change |
|
|
|
Change due to revenue recognized |
|
|
Change due to invoicing customers/
additional deposits |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unbilled revenue - contract assets |
|
$ |
57,823 |
|
|
$ |
38,494 |
|
|
$ |
19,329 |
|
|
|
$ |
93,028 |
|
|
$ |
(73,699 |
) |
Customer deposits - contract liabilities |
|
|
(111,984 |
) |
|
|
(84,062 |
) |
|
|
(27,922 |
) |
|
|
|
58,165 |
|
|
|
(86,087 |
) |
Net contract (liabilities) assets |
|
$ |
(54,161 |
) |
|
$ |
(45,568 |
) |
|
$ |
(8,593 |
) |
|
|
|
|
|
|
|
|