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Revenue
 6 Months Ended
Mar. 31, 2025
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 other military applications; (ii) airframe applications for a variety of aircraft; (iii) industrial gas and steam turbine engines for power generation units; and (iv) commercial space, semiconductor and other commercial applications.
Revenue is recognized when performance obligations under the terms of the contract with a customer of the Company are satisfied. A portion of the Company’s contracts are from purchase orders (“PO’s”), which continue to be recognized as of a point in time when products are shipped from the Company’s manufacturing facilities or at a later time when control of the products transfers to the customer. Under the revenue standard, the Company recognizes certain revenue over time as it satisfies the performance obligations because the conditions of transfer of control to the applicable customer are as follows:
•Certain military contracts, which relate to the provisions of specialized or unique goods to the U.S. government with no alternative use, include provisions within the contract that are subject to the Federal Acquisition Regulation (“FAR”). The FAR provision allows the customer to unilaterally terminate the contract for convenience and requires
the customer to pay the Company for costs incurred plus reasonable profit margin and take control of any work in process.
•For certain commercial contracts involving customer-specific products with no alternative use, the contract may fall under the FAR clause provisions noted above for military contracts or may include certain provisions within their contract that the customer controls the work in process based on contractual termination clauses or restrictions of the Company’s use of the product and the Company possesses a right to payment for work performed to date plus reasonable profit margin.
As a result of control transferring over time for these products, revenue is recognized based on progress toward completion of the performance obligation. The selection of the method to measure progress towards completion requires judgment and is based on the nature of the products to be provided. The Company elected to use the cost to cost input method of progress based on costs incurred for these contracts because it best depicts the transfer of goods to the customer based on incurring costs on the contracts. Under this method, the extent of progress towards completion is measured based on the ratio of costs incurred to date to the total estimated costs at completion of the performance obligation. Revenues are recorded proportionally as costs are incurred.
The following table represents a breakout of total revenue by customer type:
Three Months Ended
March 31,		Six Months Ended
March 31,
2025202420252024
Commercial revenue$8,321 $11,348 $19,477 $19,010 
Military revenue10,706 9,167 20,433 16,979 
Total $19,027 $20,515 $39,910 $35,989 
The following table represents revenue by end market:
Three Months Ended
March 31,		Six Months Ended
March 31,
2025202420252024
Aerospace components for:
Fixed wing aircraft$14,381 $10,080 $27,226 $20,019 
Rotorcraft2,929 4,197 6,324 7,347 
Commercial space593 4,027 3,041 5,360 
Energy components for power generation units686 442 1,713 1,055 
Commercial product and other revenue438 1,769 1,606 2,208 
Total$19,027 $20,515 $39,910 $35,989 
All revenue based on selling locations originated from the Company’s U.S. operations.
In addition to the disaggregated revenue information provided above, approximately 57% and 53% of total net sales for the six months ended March 31, 2025 and 2024, 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
The following table contains a roll forward of contract assets and contract liabilities for the six months ended March 31, 2025 and 2024:
March 31,
2025		March 31,
2024
Contract assets — beginning balance
$10,745 $10,091 
Additional revenue recognized over-time22,717 19,250 
Less amounts billed to the customers(22,452)(19,365)
Contract assets — ending balance
$11,010 $9,976 
March 31,
2025		March 31,
2024
Contract liabilities — beginning balance
$2,879 $731 
Payments received in advance of performance obligations1,554 1,683 
Performance obligations satisfied(1,665)(1,523)
Contract liabilities — ending balance$2,768 $891 
During the three and six months ended March 31, 2025, the Company recognized revenues of approximately $730 and $1,665, respectively, that were included in contract liabilities at the beginning of fiscal year 2025. During the three and six months ended March 31, 2024, the Company recognized revenues of approximately $1,523 and $1,523, respectively, that were included in contract liabilities at the beginning of fiscal year 2024.
Accounts receivable were $15,638 and $14,677 as of September 30, 2023 and March 31, 2024, respectively. There were no material impairment losses recorded on contract assets as of March 31, 2025 and September 30, 2024.
Remaining performance obligations
As of March 31, 2025, the Company has $129,218, of which $98,883 are anticipated to be complete within the next 12 months, of remaining performance obligations (including contract assets).