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Revenue | 12 Months Ended
--- | ---
Sep. 30, 2024
Revenue from Contract with Customer [Abstract] |
Revenue | Revenue The Company produces forged components for (i) turbine engines that power commercial, business and regional aircraft as well as military aircraft and armored military vehicles; (ii) airframe applications for a variety of aircraft; (iii) industrial gas and steam turbine engines for power generation units; and (iv) other commercial applications. The following table represents a breakout of total revenue by customer type:
|  | Years Ended September 30,
|  | 2024 |  | 2023
Commercial revenue |  | $ | 41,759 |  |  | $ | 27,403 |
Military revenue |  | 37,874 |  |  | 38,664 |
Total |  | $ | 79,633 |  |  | $ | 66,067 |
The following table represents revenue by the various components:
|  | Years Ended September 30,
|  | 2024 |  | 2023
Aerospace components for: |  |  |  |
Fixed wing aircraft |  | $ | 41,847 |  |  | $ | 40,094 |
Rotorcraft |  | 17,255 |  |  | 16,369 |
Commercial space |  | 13,200 |  |  | 4,557 |
Energy components for power generation units |  | 1,821 |  |  | 2,078 |
Commercial products and other revenue |  | 5,510 |  |  | 2,969 |
Total |  | $ | 79,633 |  |  | $ | 66,067 |
All revenue based on selling locations originated from the Company’s U.S. operations. In addition to the disaggregating revenue information provided above, approximately 54% and 61% of total net sales as of September 30, 2024 and 2023, respectively, was recognized on an over-time basis because of the continuous transfer of control to the customer, with the remainder recognized at a point in time. Contract Balances Generally, payment is due upon the shipment of goods. For performance obligations recognized at a point in time, a contract asset is not established as the billing and revenue recognition occur at the same time. For performance obligations recognized over time, a contract asset is established for revenue that is recognized prior to billing and shipment. Upon shipment and billing, the value of the contract asset is reversed and accounts receivable is recorded. In circumstances where prepayments are required and payment is made prior to satisfaction of performance obligations, a contract liability is established. If the satisfaction of the performance obligation occurs over time, the contract liability is reversed over the course of production. If the satisfaction of the performance obligation is point in time, the contract liability reverses upon shipment. The following table contains a roll forward of contract assets and contract liabilities for the years ended September 30, 2024 and 2023:
Contract assets - Ending balance, September 30, 2022 |  | $ | 10,172 |
Additional revenue recognized over-time |  | 40,265 |
Less amounts billed to the customers |  | (40,346) |
Contract assets - Ending balance, September 30, 2023 |  | $ | 10,091 |
Additional revenue recognized over-time |  | 42,697 |
Less amounts billed to the customers |  | (42,043) |
Contract assets - Ending balance, September 30, 2024 |  | $ | 10,745 |
Contract liabilities (included within Accrued liabilities) - Ending balance, September 30, 2022 |  | $ | (154) |
Payments received in advance of performance obligations |  | (1,545) |
Performance obligations satisfied |  | 968 |
Contract liabilities (included within Accrued liabilities) - Ending balance, September 30, 2023 |  | $ | (731) |
Payments received in advance of performance obligations |  | (5,737) |
Performance obligations satisfied |  | 3,589 |
Contract liabilities (included within Accrued liabilities) - Ending balance, September 30, 2024 |  | $ | (2,879) |
Accounts receivable, net were $17,272, $15,638, $11,788 as of September 30, 2024, 2023, and 2022, respectively. There were no impairment losses recorded on contract assets during the years ended September 30, 2024 and 2023. Remaining performance obligations As of September 30, 2024 and 2023, the Company has $85,019 and $70,911, respectively, of remaining performance obligations, the majority of which are anticipated to be completed within the next twelve months.

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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 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: 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 3: 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 4: 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 5: 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 6: 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 7: 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 8: 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 9: 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 10: 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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