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REVENUE (Tables)

6 Months Ended

Sep. 30, 2025

REVENUE

Schedule of revenue on a disaggregated basis by market and contract type

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Revenue by market		Defense			Industrial			Totals
Three months ended September 30, 2025	​	$	9,075	​	$	11	​	$	9,086
Three months ended September 30, 2024	​	$	8,919	​	$	27	​	$	8,946
Six months ended September 30, 2025	​	$	16,454	​	$	11	​	$	16,465
Six months ended September 30, 2024	​	$	16,861	​	$	71	​	$	16,932

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Revenue by contract type		Over-time			Point-in-time			Totals
Three months ended September 30, 2025	​	$	8,659	​	$	427	​	$	9,086
Three months ended September 30, 2024	​	$	8,532	​	$	414	​	$	8,946
Six months ended September 30, 2025	​	$	15,344	​	$	1,121	​	$	16,465
Six months ended September 30, 2024	​	$	15,861	​	$	1,071	​	$	16,932

Schedule of total revenue generated by the individual customers

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Three months ended

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Three months ended

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Six months ended

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Six months ended

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September 30, 2025

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September 30, 2024

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September 30, 2025

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September 30, 2024

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Segment

Amount

Percent

Amount

Percent

Amount

Percent

Amount

Percent

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Ranor

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$

1,838

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20

%

$

4,393

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49

%

$

4,578

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28

%

$

8,281

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49

%

Stadco

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$

2,826

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31

%

$

3,861

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43

%

$

4,810

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29

%

$

5,585

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33

%

Schedule of contract assets and contract liabilities

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​	​	​	​	​	Progress		​	​	​
Contract assets		Unbilled			Payments			Total
September 30, 2025	​	$	24,274	​	$	(14,142)	​	$	10,132
March 31, 2025	​	$	26,059	​	$	(16,472)	​	$	9,587

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Opening

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Obligations

Closing

Contract liabilities

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Balance

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Billed

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Satisfied

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Balance

September 30, 2025

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$

1,040

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$

16,531

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$

(16,129)

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$

1,442

March 31, 2025

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$

2,104

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$

18,720

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$

(19,784)

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$

1,040

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Sales

REVENUE

Schedule of revenue from customers who accounted for more than 10%

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​	​	Three months ended				​	Three months ended				​	Six months ended				​	Six months ended				​
​	​	September 30, 2025				​	September 30, 2024				​	September 30, 2025				​	September 30, 2024				​
Customer		Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent	​
A	​	$	*	​	*	%	$	1,601	​	18	%	$	1,790	​	11	%	$	3,362	​	20	%
B	​	$	905	​	10	%	$	898	​	10	%	$	*	​	*	%	$	1,890	​	11	%
C	​	$	933	​	10	%	$	1,206	​	13	%	$	2,778	​	17	%	$	2,281	​	14	%
D	​	$	1,265	​	14	%	$	1,041	​	12	%	$	1,670	​	10	%	$	*	​	*	%
E	​	$	1,561	​	17	%	$	1,395	​	16	%	$	3,151	​	19	%	$	3,341	​	19	%
F	​	$	*	​	*	%	$	2,113	​	23	%	$	*	​	*	%	$	2,992	​	18	%

*Less than 10% of total

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