Revenue

9 Months Ended

Jun. 30, 2022

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) other commercial applications.

The following table represents a breakout of total revenue by customer type:

	Three Months Ended June 30,				Nine Months Ended June 30,
	2022		2021		2022		2021
Commercial revenue	$	11,863	$	6,453	$	29,729	$	26,453
Military revenue	9,591		18,877		35,540		48,821
Total	$	21,454	$	25,330	$	65,269	$	75,274

The following table represents revenue by end market::

	Three Months Ended June 30,				Nine Months Ended June 30,
Net Sales	2022		2021		2022		2021
Aerospace components for:
Fixed wing aircraft	$	10,351	$	8,941	$	30,310	$	28,907
Rotorcraft	4,067		6,065		11,982		21,668
Energy components for power generation units	4,899		3,199		12,902		14,763
Commercial product and other revenue	2,137		7,125		10,075		9,936
Total	$	21,454	$	25,330	$	65,269	$	75,274

The following table represents revenue by geographic region based on the Company's selling operation locations:

	Three Months Ended June 30,				Nine Months Ended June 30,
Net Sales	2022		2021		2022		2021
North America	$	17,051	$	22,794	$	53,339	$	62,578
Europe	4,403		2,536		11,930		12,696
Total	$	21,454	$	25,330	$	65,269	$	75,274

In addition to the disaggregated revenue information provided above, approximately 58% and 65% of total net sales as of June 30, 2022 and 2021, 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 period ended June 30, 2022:

Contract assets - Beginning balance, October 1, 2021	$	12,874
Additional revenue recognized over-time	37,736
Less amounts billed to the customers	(38,674)
Contract assets - Ending balance, June 30, 2022	$	11,936

Contract liabilities (included within Accrued liabilities) - Beginning balance, October 1, 2021	$	(236)
Payments received in advance of performance obligations	(1,362)
Performance obligations satisfied	1,128
Contract liabilities (included within Accrued liabilities) - Ending balance, June 30, 2022	$	(470)

There were no impairment losses recorded on contract assets as of June 30, 2022 and September 30, 2021.

Remaining performance obligations

As of June 30, 2022, the Company has $69,399 of remaining performance obligations, the majority of which are anticipated to be completed within the next twelve months.