Company: KEQU
Filing Date: 2025-12-12
Form Type: 10-Q
Source: 0000055529-25-000054
Chunk: 18

Company: KEWAUNEE SCIENTIFIC CORP /DE/
Filing Date: 2025-12-12
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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 revenue when control of a good or service promised in a contract (i.e., performance obligation) is transferred to a customer. Control is obtained when a customer has the ability to direct the use of and obtain substantially all of the remaining benefits from that good or service. The majority of the Company's revenues are recognized over time as the customer receives control as the Company performs work under a contract. However, a portion of the Company's revenues are recognized at a point-in-time as control is transferred at a distinct point in time per the terms of a contract.Disaggregated RevenueA summary of net sales transferred to customers over time and at a point in time for the periods ended October 31, 2025 and October 31, 2024 is as follows (in thousands):Three Months Ended October 31, 2025October 31, 2024 DomesticInternationalTotalDomesticInternationalTotalOver Time$32,911 $14,872 $47,783 $35,123 $11,355 $46,478 Point in Time22,313 — 22,313 1,286 — 1,286 Total$55,224 $14,872 $70,096 $36,409 $11,355 $47,764 Six Months Ended October 31, 2025October 31, 2024 DomesticInternationalTotalDomesticInternationalTotalOver Time$65,624 $31,624 $97,248 $69,512 $24,225 $93,737 Point in Time43,952 — 43,952 2,420 — 2,420 Total$109,576 $31,624 $141,200 $71,932 $24,225 $96,157 Contract BalancesThe closing balances of contract assets included $14,064,000 in accounts receivable at October 31, 2025. The opening balance of contract assets arising from contracts with customers included $12,693,000 in accounts receivable at April 30, 2025. The closing and opening balances of contract liabilities included in deferred revenue arising from contracts with customers were $4,342,000 at October 31, 2025 and $6,073,000 at April 30, 2025. The timing of revenue recognition, billings and cash collections results in accounts receivable, unbilled receivables