CONTRACT LIABILITIES

6 Months Ended

Jun. 30, 2025

Revenue from Contract with Customer [Abstract]

CONTRACT LIABILITIES

CONTRACT LIABILITIES

At times, we require customers to make advanced payments prior to the shipment of their orders to help finance our inventory investment on large orders or keep customers’ credit limits at acceptable levels. Contract liabilities were as follows for the periods presented:

	June 30, 2025		December 31, 2024
Arcadia Products	$	7,666	$	9,408
NobelClad	3,007		12,381
DynaEnergetics	1,353		1,373
Total	$	12,026	$	23,162

We generally expect to recognize the revenue associated with contract liabilities over a time period no longer than one year, but unforeseen circumstances can cause delays in shipments associated with contract liabilities, primarily supply chain delays and disruptions.