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REVENUES (Tables) | 6 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
Reconciliation of Disaggregation of Revenue | The following table provides information about revenue by recognition model during the three and six months ended June 30, 2024 and 2023:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
Revenues by recognition model |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Point-in-time |  | $ | 45,853 |  |  | $ | 35,670 |  |  | $ | 89,962 |  |  | $ | 64,332 |
Over-time |  |  | 60,398 |  |  |  | 26,375 |  |  |  | 109,056 |  |  |  | 52,608 |
Total revenue by recognition model |  | $ | 106,251 |  |  | $ | 62,045 |  |  | $ | 199,018 |  |  | $ | 116,940 |
Balances Related to Enforceable Contracts | The following table presents the balances related to enforceable contracts as of June 30, 2024 and December 31, 2023:
|  | June 30, 2024 |  |  | December 31, 2023 |
Contract balances |  |  |  |  |  |
Accounts receivable, net |  | $ | 50,476 |  |  | $ | 35,176 |
Contract assets |  |  | 18,744 |  |  |  | 12,951 |
Contract liabilities |  |  | (184,042 | ) |  |  | (139,338 | )
Changes in Contract Liabilities | Changes in contract liabilities for the three months ended June 30, 2024 were as follows:
Contract liabilities, at March 31, 2024 |  | $ | 150,535 |
Customer advances received or billed |  |  | 66,613 |
Recognition of unearned revenue |  |  | (33,106 | )
Contract liabilities, at June 30, 2024 |  | $ | 184,042 |
Changes in contract liabilities for the six months ended June 30, 2024 were as follows:
Contract liabilities, at December 31, 2023 |  | $ | 139,338 |
Customer advances received or billed |  |  | 134,983 |
Recognition of unearned revenue |  |  | (90,279 | )
Contract liabilities, at June 30, 2024 |  | $ | 184,042 |
Schedule of Concentration of Credit Risk and Significant Customers | As of June 30, 2024, the Company’s customers that accounted for 10% or more of the total accounts receivable, net, were:
|  | June 30, 2024 |
MDA Corporation |  |  | 26 | %
Synspective, Inc. |  |  | 12 | %
For the six months ended June 30, 2024, the Company’s customers that accounted for 10% or more of the total revenue, were as follows:
|  | Six Months Ended June 30, 2024 |
MDA Corporation |  |  | 26 | %

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