CUSTOMER CONCENTRATIONS

3 Months Ended

Apr. 30, 2026

CUSTOMER CONCENTRATIONS

CUSTOMER CONCENTRATIONS

NOTE 14 – CUSTOMER CONCENTRATIONS

Most of the Company’s consolidated revenues relate to performance by the Power segment. The following schedule presents the percentage of consolidated revenues for each reportable segment for the respective periods:

	Three Months Ended April 30,
	2026			2025
Power		77.9	%		82.8	%
Industrial		20.0			15.1
Teledata		2.1			2.1

The Company’s most significant customer relationships for the three months ended April 30, 2026 included three Power customers, which accounted for 15%, 13%, and 12% of consolidated revenues. The Company’s most significant customer relationships for the three months ended April 30, 2025 included two Power customers, which accounted for 30% and 25% of consolidated revenues.

The accounts receivable balances from five major customers represented 19%, 16%, 13%, 11%, and 11% of the corresponding consolidated balance as of April 30, 2026. The accounts receivable balances from three major customers represented 29%, 19%, and 11% of the corresponding consolidated balance as of January 31, 2026.

The contract asset balances attributable to three major customers represented 22%, 22%, and 12% of the corresponding consolidated balance as of April 30, 2026, and the contract asset balances attributable to three major customers represented 23%, 22%, and 19% of the corresponding consolidated balance as of January 31, 2026.