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Backlog
Measures the value of unfulfilled orders or contracted work waiting to be delivered, giving a view of near-term revenue visibility and demand strength. A healthy backlog can signal steady future cash flows, while an unusually large or growing backlog may indicate delivery bottlenecks, supply constraints, or cancellation risk that could delay revenue and pressure margins.Backlog shows a clear, sustained step-up into the high‑tens of millions beginning in late‑2024, giving the company materially better revenue visibility and supporting the recent surge in cash generation and profitability. Management ties this to resumed F‑16 production, Pilatus UMS work and new orders, but warns FY26 revenue will be timing‑driven and essentially flat; execution risk (third‑party timing, integration) and concentration in a few defense/OEM programs remain the key catalysts or risks for conversion and margin upside.
Date | Backlog |
|---|---|
Mar 31, 2026 | $86.98M |
Dec 31, 2025 | $75.28M |
Sep 30, 2025 | $77.43M |
Jun 30, 2025 | $72.39M |
Mar 31, 2025 | $79.60M |
Dec 31, 2024 | $80.76M |
Sep 30, 2024 | $89.23M |
Jun 30, 2024 | $9.27M |
Mar 31, 2024 | $10.43M |
Dec 31, 2023 | $14.56M |