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Major Customers

6 Months Ended

Jun. 30, 2024

Concentration Risks, Types, No Concentration Percentage [Abstract]

Major Customers

MAJOR CUSTOMERS

The Company had six major customers during the six months ended June 30, 2024, BRP, Inc. ("BRP"), Navistar, Inc. ("Navistar"), PACCAR, Inc. ("PACCAR"), Universal Forest Products, Inc. ("UFP"), Volvo Group North America, LLC ("Volvo") and Yamaha Motor Corporation ("Yamaha"). Major customers are defined as customers whose sales individually consist of more than ten percent of the Company's total sales during any annual or interim reporting period presented. The loss of a significant portion of sales to these customers could have a material adverse effect on the Company.

The following table presents sales revenue for the above-mentioned customers for the three and six months ended June 30, 2024 and 2023 (in thousands):

			Three months ended June 30,												Six months ended June 30,
			2024						2023						2024						2023
BRP product sales			$	9,268					$	12,457					$	16,825					$	24,601
BRP tooling sales			115						157						229						738
Total BRP sales			9,383						12,614						17,054						25,339
Navistar product sales			18,209						17,751						32,638						37,012
Navistar tooling sales			60						—						220						185
Total Navistar sales			18,269						17,751						32,858						37,197
PACCAR product sales			10,610						8,721						20,559						18,922
PACCAR tooling sales			120						662						366						730
Total PACCAR sales			10,730						9,383						20,925						19,652
UFP product sales			4,962						9,157						11,237						19,932
UFP tooling sales			—						—						—						—
Total UFP sales			4,962						9,157						11,237						19,932
Volvo product sales			13,505						15,362						26,225						30,971
Volvo tooling sales			—						755						—						799
Total Volvo sales			13,505						16,117						26,225						31,770
Yamaha product sales			8,752						8,468						17,334						16,356
Yamaha tooling sales			—						—						—						—
Total Yamaha sales			8,752						8,468						17,334						16,356
Other product sales			18,650						23,787						34,969						46,246
Other tooling sales			4,492						448						6,286						740
Total other sales			23,142						24,235						41,255						46,986
Total product sales			83,956						95,703						159,787						194,040
Total tooling sales			4,787						2,022						7,101						3,192
Total sales			$	88,743					$	97,725					$	166,888					$	197,232

X

- Definition

The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 275
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//275/tableOfContent

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- References

No definition available.

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