v3.26.1
Segment Information
 6 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
We manage our business as one reportable operating segment and our revenues are primarily generated from the development, design, manufacturing and servicing of custom-engineered equipment and systems for the distribution, control and monitoring of electrical energy.

Our chief operating decision maker (“CODM”) is our chief executive officer. The CODM manages and allocates resources on a total consolidated basis by assessing performance of revenues and earnings before interest and taxes (“EBIT”) using actual-to-actual, actual-to-plan and actual-to-forecast variance analysis. The measure of segment profit and loss regularly provided to the CODM that is most consistent with GAAP is consolidated net income, as presented in our Consolidated Statements of Operations. The CODM does not manage cost components by product, customer type or service type, nor does the CODM regularly receive disaggregated information at this level.
For the three and six months ended March 31, 2026 and 2025, the summary of segment net income, including segment expenses, for our single reportable segment were as follows (in thousands):

Three months ended March 31,Six months ended March 31,
 2026202520262025
Revenues$296,615 $278,631 $547,799 $520,062 
Segment operating expenses:
Cost of goods sold208,679 195,199 388,445 377,106 
General and administrative expenses17,646 14,624 34,938 29,475 
Sales and marketing expenses8,365 6,933 16,110 13,664 
Research and development expenses4,289 2,746 7,556 5,222 
Amortization223 — 445 — 
Realized currency (gain) loss(168)210 (47)104 
Total segment operating expenses239,034 219,712 447,447 425,571 
Operating income / EBIT57,581 58,919 100,352 94,491 
Interest income, net(4,203)(3,555)(8,468)(7,420)
Income tax provision15,897 16,144 21,543 20,818 
Segment net income$45,887 $46,330 $87,277 $81,093 
Gross profit$87,936 $83,432 $159,354 $142,956 

Revenues by country represent sales to unaffiliated customers as determined by the ultimate destination of our products and services, summarized for the three and six months ended March 31, 2026 and 2025 (in thousands):
Three months ended March 31,Six months ended March 31,
2026202520262025
United States$232,272 $227,834 $427,150 $425,606 
Canada29,823 33,970 62,282 65,664 
Middle East and Africa13,618 8,282 23,490 12,840 
Europe10,478 5,897 18,704 11,425 
Asia/Pacific9,840 1,646 15,143 3,226 
Mexico, Central and South America584 1,002 1,030 1,301 
     Total revenues$296,615 $278,631 $547,799 $520,062 

Long-lived assets by country consist of property, plant and equipment, net of accumulated depreciation and are determined based on the location of the tangible assets, summarized below (in thousands):
 
 March 31, 2026September 30, 2025
Long-lived assets:  
United States$72,540 $70,699 
Canada32,102 32,744 
United Kingdom7,180 7,606 
Total$111,822 $111,049