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Revenue Recognition (Tables) | 9 Months Ended
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Dec. 31, 2022
Revenue from Contract with Customer [Abstract] |
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, |
Product Line |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Refining |  | $ | 6,497 |  |  | $ | 3,958 |  |  | $ | 21,940 |  |  | $ | 14,894 |
Chemical/Petrochemical |  |  | 3,927 |  |  |  | 3,047 |  |  |  | 15,606 |  |  |  | 11,132 |
Defense |  |  | 21,687 |  |  |  | 16,598 |  |  |  | 46,342 |  |  |  | 43,475 |
Space |  |  | 3,510 |  |  |  | 1,449 |  |  |  | 14,278 |  |  |  | 3,466 |
Other Commercial |  |  | 4,252 |  |  |  | 3,722 |  |  |  | 15,925 |  |  |  | 10,110 |
Net sales |  | $ | 39,873 |  |  | $ | 28,774 |  |  | $ | 114,091 |  |  | $ | 83,077 |
Geographic Region |  |  |  |  |  |  |  |  |  |  |  |
Asia |  | $ | 4,226 |  |  | $ | 1,493 |  |  | $ | 12,729 |  |  | $ | 10,485 |
Canada |  |  | 557 |  |  |  | 924 |  |  |  | 3,261 |  |  |  | 3,011 |
Middle East |  |  | 621 |  |  |  | 628 |  |  |  | 1,766 |  |  |  | 2,202 |
South America |  |  | 649 |  |  |  | 242 |  |  |  | 2,509 |  |  |  | 720 |
U.S. |  |  | 33,163 |  |  |  | 24,737 |  |  |  | 91,657 |  |  |  | 64,832 |
All other |  |  | 657 |  |  |  | 750 |  |  |  | 2,169 |  |  |  | 1,827 |
Net sales |  | $ | 39,873 |  |  | $ | 28,774 |  |  | $ | 114,091 |  |  | $ | 83,077 |
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, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Revenue recognized over time |  |  | 80 | % |  |  | 75 | % |  |  | 73 | % |  |  | 75 | %
Revenue recognized at shipment |  |  | 20 | % |  |  | 25 | % |  |  | 27 | % |  |  | 25 | %
Schedule of Disaggregation of Revenue | 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, |
Product Line |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Refining |  | $ | 6,497 |  |  | $ | 3,958 |  |  | $ | 21,940 |  |  | $ | 14,894 |
Chemical/Petrochemical |  |  | 3,927 |  |  |  | 3,047 |  |  |  | 15,606 |  |  |  | 11,132 |
Defense |  |  | 21,687 |  |  |  | 16,598 |  |  |  | 46,342 |  |  |  | 43,475 |
Space |  |  | 3,510 |  |  |  | 1,449 |  |  |  | 14,278 |  |  |  | 3,466 |
Other Commercial |  |  | 4,252 |  |  |  | 3,722 |  |  |  | 15,925 |  |  |  | 10,110 |
Net sales |  | $ | 39,873 |  |  | $ | 28,774 |  |  | $ | 114,091 |  |  | $ | 83,077 |
Geographic Region |  |  |  |  |  |  |  |  |  |  |  |
Asia |  | $ | 4,226 |  |  | $ | 1,493 |  |  | $ | 12,729 |  |  | $ | 10,485 |
Canada |  |  | 557 |  |  |  | 924 |  |  |  | 3,261 |  |  |  | 3,011 |
Middle East |  |  | 621 |  |  |  | 628 |  |  |  | 1,766 |  |  |  | 2,202 |
South America |  |  | 649 |  |  |  | 242 |  |  |  | 2,509 |  |  |  | 720 |
U.S. |  |  | 33,163 |  |  |  | 24,737 |  |  |  | 91,657 |  |  |  | 64,832 |
All other |  |  | 657 |  |  |  | 750 |  |  |  | 2,169 |  |  |  | 1,827 |
Net sales |  | $ | 39,873 |  |  | $ | 28,774 |  |  | $ | 114,091 |  |  | $ | 83,077 |
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, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Revenue recognized over time |  |  | 80 | % |  |  | 75 | % |  |  | 73 | % |  |  | 75 | %
Revenue recognized at shipment |  |  | 20 | % |  |  | 25 | % |  |  | 27 | % |  |  | 25 | %
Schedule of Net Contract Assets (Liabilities) | Net contract assets (liabilities) consisted of the following:
|  | December 31, 2022 |  |  | March 31, 2022 |  |  | Change |  |  | Change due to revenue recognized |  |  | Change due to invoicing customers/ additional deposits |
Unbilled revenue (contract assets) |  | $ | 33,509 |  |  | $ | 25,570 |  |  | $ | 7,939 |  |  | $ | 58,274 |  |  | $ | 50,335 |
Customer deposits (contract liabilities) |  |  | (44,300 | ) |  |  | (25,644 | ) |  |  | (18,656 | ) |  |  | 22,918 |  |  |  | 41,574 |
Net contract (liabilities) assets |  | $ | (10,791 | ) |  | $ | (74 | ) |  | $ | (10,717 | ) |  |  |  |  |  |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045 + Details
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