Revenue Information

12 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Revenue Information

Revenue Information

During the fiscal year ended September 30, 2023, the Company recognized revenue related to a certain multi-year repair and support contract. Repairs pricing is definitized and revenue is recognized as performed/completed. Support pricing is undefinitized until receipt of annual purchase order and revenue is variable consideration and subject to constraint. Variable consideration and constraints are reassessed at each reporting date as uncertainties are resolved or new information arises regarding remaining uncertainties For the fiscal year ended September 30, 2023, the Company recognized $4.2 million in support revenue related to (i) the definitized amount for calendar year 2022 as all revenue was constrained in previous periods due to lack of history with the customer until finalization of pricing, and receipt of payment, during the quarter ended September 30, 2023 of approximately $2.5 million and (ii) $1.7 million associated with proposed support pricing for calendar year 2023 reflecting a change in estimate with respect to constraint of calendar year 2023 revenue. Constraint was reduced for the calendar year 2023 support pricing due to added experience with the customer.

Reportable Segment

Concurrent with the discontinuance of the Broadband business segment and defense optoelectronics product line during the quarter ended September 30, 2023, the Company only has one reportable segment, Inertial Navigation, for which financial information is available and upon which operating results are evaluated by the chief operating decision maker, the Chief Executive Officer, to assess performance and to allocate resources.

Geographical Concentration

The following table sets forth revenue by geographic area based on customers’ billing addresses:

	Year Ended September 30,
(in thousands)	2023		2022
United States and Canada	$	75,143	$	42,177
Asia	8,714		710
Europe	10,444		1,242
Other	3,415		1,189
Total revenue	$	97,716	$	45,318

Customer Concentration

Portions of the Company’s sales are concentrated among a limited number of customers. Significant customers are defined as customers representing greater than 10% of consolidated revenue. There were two significant customers representing an aggregate of 40.4% and 39.7% of consolidated revenue for the fiscal years ended September 30, 2023 and 2022, respectively.