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REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables) | 9 Months Ended
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Sep. 30, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | The following table depicts the disaggregation of revenue by type of products or services and timing of transfer of products or services (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Type of products or services |  |  |  |  |  |  |  |  |
QCaaS | $ | 1,599 |  |  | $ | 1,132 |  |  | $ | 5,071 |  |  | $ | 3,333 |  |  |
Professional services | 271 |  |  | 1,338 |  |  | 1,305 |  |  | 2,234 |  |  |
Other revenue* | — |  |  | 92 |  |  | 142 |  |  | 285 |  |  |
Total revenue | $ | 1,870 |  |  | $ | 2,562 |  |  | $ | 6,518 |  |  | $ | 5,852 |  |  |
Timing of revenue recognition |  |  |  |  |  |  |  |  |
Revenue recognized over time | $ | 1,856 |  |  | $ | 2,506 |  |  | $ | 6,480 |  |  | $ | 5,713 |  |  |
Revenue recognized at a point in time | 14 |  |  | 56 |  |  | 38 |  |  | 139 |  |  |
Total revenue | $ | 1,870 |  |  | $ | 2,562 |  |  | $ | 6,518 |  |  | $ | 5,852 |  |  |
*Other revenue includes support, maintenance and printed circuit board sales. For the three and nine months ended September 30, 2023, maintenance revenues have been reclassified from professional services to other revenue. The following table presents a summary of revenue by geography for the three and nine months ended September 30, 2024 and 2023, based on customer location (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |
United States | $ | 484 |  |  | $ | 1,083 |  |  | $ | 1,845 |  |  | $ | 1,814 |  |  |
Germany | 483 |  |  | 287 |  |  | 1,488 |  |  | 865 |  |  |
Canada | 230 |  |  | — |  |  | 775 |  |  | — |  |  |
Japan | 175 |  |  | 299 |  |  | 610 |  |  | 920 |  |  |
Switzerland | 197 |  |  | 311 |  |  | 501 |  |  | 686 |  |  |
Other | 301 |  |  | 582 |  |  | 1,299 |  |  | 1,567 |  |  |
Total revenue | $ | 1,870 |  |  | $ | 2,562 |  |  | $ | 6,518 |  |  | $ | 5,852 |  |  |
Schedule of Significant Customers | The tables below present the significant customers on a percentage of total revenue basis for the three and nine months ended September 30, 2024 and 2023.
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023 |  |
Customer A | — | % |  | 13 | % |  | — | % |  | 14 | % |  |
Customer B | 19 | % |  | — | % |  | 18 | % |  | 11 | % |  |
Customer C | — | % |  | — | % |  | — | % |  | 10 | % |  |
Customer D | — | % |  | 12 | % |  | — | % |  | 12 | % |  |
Customer E | 11 | % |  | 12 | % |  | — | % |  | 12 | % |  |
Schedule of Contract Balances and Revenue Recognized | The following table provides information about account receivable, contract assets and liabilities as of September 30, 2024 and December 31, 2023 (in thousands):
| As of September 30, 2024 |  | As of December 31, 2023
Trade accounts receivable and contract assets, net: |  |  |
Trade account receivable, excluding unbilled receivables | $ | 867 |  |  | $ | 644 |
Contract asset for unbilled receivables | 589 |  |  | 1,008 |
Contract acquisition costs | 200 |  |  | — |
Total contract assets | $ | 1,656 |  |  | $ | 1,652 |
Contract liabilities: |  |  |
Deferred revenue, current | $ | 2,910 |  |  | $ | 2,669 |
Deferred revenue, non-current | 57 |  |  | 79 |
Customer deposit 1 | 45 |  |  | 45 |
Total contract liabilities | $ | 3,012 |  |  | $ | 2,793 |
1 Customer deposit is included in accrued expenses and other current liabilities on the condensed consolidated balance sheets. Changes in deferred revenue from contracts with customers were as follows (in thousands):
| Nine Months Ended September 30,
| 2024 |  | 2023
Balance at beginning of period | $ | 2,748 |  |  | $ | 1,790 |
Deferral of revenue | 6,768 |  |  | 4,353 |
Recognition of deferred revenue | (6,549) |  |  | (3,874) |
Balance at end of period | $ | 2,967 |  |  | $ | 2,269 |

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