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REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables) | 3 Months Ended
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Mar. 31, 2025
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 March 31,
|  |  |  |  | 2025 |  | 2024 |  |
Type of products or services |  |  |  |  |  |  |  |  |
System sales |  |  |  |  | $ | 12,647 |  |  | $ | — |  |  |
QCaaS |  |  |  |  | 1,533 |  |  | 1,692 |  |  |
Professional services |  |  |  |  | 777 |  |  | 639 |  |  |
Other revenue* |  |  |  |  | 44 |  |  | 134 |  |  |
Total revenue |  |  |  |  | $ | 15,001 |  |  | $ | 2,465 |  |  |
Timing of revenue recognition |  |  |  |  |  |  |  |  |
Revenue recognized over time |  |  |  |  | $ | 2,337 |  |  | $ | 2,405 |  |  |
Revenue recognized at a point in time |  |  |  |  | 12,664 |  |  | 60 |  |  |
Total revenue |  |  |  |  | $ | 15,001 |  |  | $ | 2,465 |  |  |
*Other revenue includes support and maintenance and printed circuit board sales. The following table presents a summary of revenue by geography for the three months ended March 31, 2025 and 2024, based on customer location (in thousands):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2025 |  | 2024 |  |
Germany |  |  |  |  | $ | 12,804 |  |  | $ | 723 |  |  |
United States |  |  |  |  | 497 |  |  | 512 |  |  |
Japan |  |  |  |  | 482 |  |  | 325 |  |  |
Canada |  |  |  |  | 304 |  |  | 195 |  |  |
Other |  |  |  |  | 915 |  |  | 710 |  |  |
Total revenue |  |  |  |  | $ | 15,001 |  |  | $ | 2,465 |  |  |
Schedule of Significant Customers | The tables below present the significant customers on a percentage of total revenue basis for the three months ended March 31, 2025 and 2024.
|  |  | Three Months Ended March 31,
|  |  |  |  | 2025 |  | 2024 |  |
Customer A |  |  |  |  | 85 | % |  | 18 | % |  |
Schedule of Contract Balances and Revenue Recognized | The following table provides information about account receivable, contract assets and liabilities as of March 31, 2025 and December 31, 2024 (in thousands):
| As of March 31, 2025 | As of | As of December 31, 2024
Trade accounts receivable and contract assets, net: |  |  |
Trade accounts receivable, net of allowance for doubtful accounts and excluding unbilled receivables | $ | 437 |  |  | $ | 867 |
Contract asset for unbilled receivables | 610 |  |  | 553 |
Contract acquisition costs | 365 |  |  | 174 |
Total contract assets | $ | 1,412 |  |  | $ | 1,594 |
Contract liabilities: |  |  |
Deferred revenue, current | $ | 5,549 |  |  | $ | 18,686 |
Deferred revenue, non-current | 700 |  |  | 670 |
Customer deposit 1 | 56 |  |  | 48 |
Total contract liabilities | $ | 6,305 |  |  | $ | 19,404 |
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):
| Three Months Ended March 31,
| 2025 |  | 2024
Balance at beginning of period | $ | 19,356 |  |  | $ | 2,748 |
Deferral of revenue | 1,894 |  |  | 2,113 |
Recognition of deferred revenue | (15,001) |  |  | (2,463) |
Balance at end of period | $ | 6,249 |  |  | $ | 2,398 |

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