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Revenue Recognition | 6 Months Ended
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Jun. 30, 2026
Revenue from Contract with Customer [Abstract] |
Revenue Recognition | 3. Revenue Recognition All revenue recognized in the condensed consolidated statements of income is considered to be revenue from contracts with customers. Revenue is recognized in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services when control of the promised good or service is transferred to the customer. Substantially all of the Company’s revenue from contracts with customers is recognized at a point in time, which is generally upon shipment of goods to the customer. The Company sells specialty aerospace components based on a customer purchase order, which generally includes a fixed price per unit. The Company satisfies the single performance obligation generally upon shipment of the goods, as this is when contractual control transfers to the customer and recognizes revenue at that point in time. Total revenues do not include taxes, such as sales tax or value-added tax, which are assessed by governmental authorities and collected by the Company. Products are covered by a standard assurance warranty, generally extended for a period of 25 days to two years depending on the customer, which promises that delivered products conform to contract specifications. The Company does not offer refunds or accept returns, unless related to a defect or warranty related matter. The Company does not sell extended warranties and does not provide warranties outside of fixing defects that existed at the time of sale. As such, warranties are accounted for under ASC 460, Guarantees and not as a separate performance obligation. Customers generally have payment terms between 30 and 90 days from the satisfaction of the performance obligations. As a practical expedient, the Company does not adjust the amount of consideration for a financing component, as the period between the transfer of goods or services and the customer’s payment is, at contract inception, expected to be one year or less. Net sales by end market were as follows (in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
Commercial Net Sales |  |  |  |  |  |  |  |  |  |  |  |
Commercial aerospace OEM |  | $ | 37,160 |  |  | $ | 19,440 |  |  | $ | 68,681 |  |  | $ | 35,504 |
Commercial aerospace aftermarket |  |  | 46,256 |  |  |  | 34,836 |  |  |  | 89,771 |  |  |  | 67,239 |
Total commercial aerospace |  |  | 83,416 |  |  |  | 54,276 |  |  |  | 158,452 |  |  |  | 102,743 |
Business jet & general aviation OEM |  |  | 20,304 |  |  |  | 17,895 |  |  |  | 39,937 |  |  |  | 37,318 |
Business jet & general aviation aftermarket |  |  | 13,099 |  |  |  | 12,267 |  |  |  | 24,165 |  |  |  | 23,702 |
Total business jet & general aviation |  |  | 33,403 |  |  |  | 30,162 |  |  |  | 64,102 |  |  |  | 61,020 |
Total commercial OEM |  |  | 57,464 |  |  |  | 37,335 |  |  |  | 108,618 |  |  |  | 72,822 |
Total commercial aftermarket |  |  | 59,355 |  |  |  | 47,103 |  |  |  | 113,936 |  |  |  | 90,941 |
Total commercial |  |  | 116,819 |  |  |  | 84,438 |  |  |  | 222,554 |  |  |  | 163,763 |
Defense Net Sales |  |  |  |  |  |  |  |  |  |  |  |
Total defense OEM |  |  | 26,971 |  |  |  | 14,332 |  |  |  | 50,013 |  |  |  | 26,058 |
Total defense aftermarket |  |  | 18,062 |  |  |  | 17,139 |  |  |  | 35,669 |  |  |  | 34,195 |
Total defense |  |  | 45,033 |  |  |  | 31,471 |  |  |  | 85,682 |  |  |  | 60,253 |
Other Net Sales |  |  |  |  |  |  |  |  |  |  |  |
Total other OEM |  |  | 5,001 |  |  |  | 2,655 |  |  |  | 9,769 |  |  |  | 5,521 |
Total other aftermarket |  |  | 4,726 |  |  |  | 4,559 |  |  |  | 9,662 |  |  |  | 8,245 |
Total other |  |  | 9,727 |  |  |  | 7,214 |  |  |  | 19,431 |  |  |  | 13,766 |
Net Sales |  | $ | 171,579 |  |  | $ | 123,123 |  |  |  | 327,667 |  |  | $ | 237,782 |
Contract Liabilities Contract liabilities, or deferred revenue, represent payments received in advance of the satisfaction of performance under the contract. The Company receives payments from customers based on established terms. The Company's contract liabilities consisted of the following (in thousands):
|  | June 30, 2026 |  |  | December 31, 2025 |
Contract liabilities, current (1) |  | $ | 8,261 |  |  | $ | 4,227 |
Contract liabilities, long-term |  |  | — |  |  |  | — |
Total contract liabilities |  | $ | 8,261 |  |  | $ | 4,227 |
(1) Included in accrued expenses and other current liabilities on the condensed consolidated balance sheets. During the three and six months ended June 30, 2026, the Company recognized revenue of approxim ately $1.4 million and $3.5 million, respectively, that was included in the contract liability balance at December 31, 2025. The Company had no material contract assets at June 30, 2026 and December 31, 2025.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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