Reportable Segment and Revenue Information

3 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Reportable Segment and Revenue Information

Reportable Segment and Revenue Information

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.

Timing of Revenue

Revenue is classified by timing of recognition as presented below:

	Three Months Ended December 31,
(in thousands)	2023		2022
Trade revenue (recognized at a point in time)	$	17,373	$	14,434
Contract revenue (recognized over time)	6,750		5,545
Total revenue	$	24,123	$	19,979

Geographical Concentration

Revenue is classified by geographic area based on our customers’ billing addresses as presented below:

	Three Months Ended December 31,
(in thousands)	2023		2022
United States and Canada	$	16,393	$	16,042
Asia	2,979		1,153
Europe	3,432		2,160
Other	1,319		624
Total revenue	$	24,123	$	19,979

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. Revenue from two significant customers represented an aggregate of 30% and 35% of our consolidated revenue for the three months ended December 31, 2023 and 2022, respectively.

Reportable Segment and Revenue Information

Reportable Segment and Revenue Information

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.

Timing of Revenue

Revenue is classified by timing of recognition as presented below:

	Three Months Ended December 31,
(in thousands)	2023		2022
Trade revenue (recognized at a point in time)	$	17,373	$	14,434
Contract revenue (recognized over time)	6,750		5,545
Total revenue	$	24,123	$	19,979

Geographical Concentration

Revenue is classified by geographic area based on our customers’ billing addresses as presented below:

	Three Months Ended December 31,
(in thousands)	2023		2022
United States and Canada	$	16,393	$	16,042
Asia	2,979		1,153
Europe	3,432		2,160
Other	1,319		624
Total revenue	$	24,123	$	19,979

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. Revenue from two significant customers represented an aggregate of 30% and 35% of our consolidated revenue for the three months ended December 31, 2023 and 2022, respectively.