XML 54 R20.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Reportable Segment and Revenue Information
 6 Months Ended
Mar. 31, 2024
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 March 31,Six Months Ended March 31,
(in thousands)2024202320242023
Trade revenue (recognized at a point in time)$16,042 $6,173 $33,416 $11,718 
Contract revenue (recognized over time)3,592 18,077 10,341 32,511 
Total revenue$19,634 $24,250 $43,757 $44,229 

Geographical Concentration

Revenue is classified by geographic area based on our customers’ billing addresses as presented below:
Three Months Ended March 31,Six Months Ended March 31,
(in thousands)2024202320242023
United States and Canada$15,617 $18,710 $32,010 $34,752 
Asia1,014 1,751 3,993 2,904 
Europe2,141 3,269 5,573 5,429 
Other862 520 2,181 1,144 
Total revenue$19,634 $24,250 $43,757 $44,229 

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 three significant customers represented an aggregate of 40% and two significant customers represented 29% of our consolidated revenue for the three and six months ended March 31, 2024, respectively, and revenue from two significant customers represented an aggregate of 40% and 38% of our consolidated revenue for the three and six months ended March 31, 2023, 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 March 31,Six Months Ended March 31,
(in thousands)2024202320242023
Trade revenue (recognized at a point in time)$16,042 $6,173 $33,416 $11,718 
Contract revenue (recognized over time)3,592 18,077 10,341 32,511 
Total revenue$19,634 $24,250 $43,757 $44,229 

Geographical Concentration

Revenue is classified by geographic area based on our customers’ billing addresses as presented below:
Three Months Ended March 31,Six Months Ended March 31,
(in thousands)2024202320242023
United States and Canada$15,617 $18,710 $32,010 $34,752 
Asia1,014 1,751 3,993 2,904 
Europe2,141 3,269 5,573 5,429 
Other862 520 2,181 1,144 
Total revenue$19,634 $24,250 $43,757 $44,229 

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 three significant customers represented an aggregate of 40% and two significant customers represented 29% of our consolidated revenue for the three and six months ended March 31, 2024, respectively, and revenue from two significant customers represented an aggregate of 40% and 38% of our consolidated revenue for the three and six months ended March 31, 2023, respectively.