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Revenue | 6 Months Ended
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Jun. 30, 2024
Revenue [Abstract] |
Revenue | 20. Revenue
|  | Six months ended June 30, 2024 |  |  | Six months ended June 30, 2023 |
Revenue from contracts with customers |  |  |  |  |  |
Hardware sales |  |  |  |  |  |
Government |  |  |  |  |  |
-Video IoT |  | $ | 20,616 |  |  | $ | - |
Software sales |  |  |  |  |  |  |  |
Non-Government |  |  |  |  |  |  |  |
-Video IoT |  |  | 194,541 |  |  |  | 82,745 |
-Security Convergence |  |  | - |  |  |  | - |
Service revenue |  |  |  |  |  |  |  |
Government |  |  |  |  |  |  |  |
-Video IoT |  |  | 1,056,025 |  |  |  | 1,099,987 |
-Security Convergence |  |  | 19,112,606 |  |  |  | 4,767,044 |
Non-Government |  |  |  |  |  |  |  |
-Video IoT |  |  | 177,657 |  |  |  | 274,663 |
-Security Convergence |  |  | 113,246 |  |  |  | 204,896 |
|  | $ | 20,674,691 |  |  | $ | 6,429,335 |
| a) | Disaggregation of revenue from contracts with customers
The Group derives revenue from the transfer of goods and services over time and at a point in time in the following major products lines and all revenue took place mainly in Asia and MENA region:
Six months ended June 30, 2024 |  | Hardware |  |  | Software |  |  | Service |  |  | Total |
Total revenue streams |  | $ | 22,557 |  |  | $ | 194,541 |  |  | $ | 20,966,070 |  |  | $ | 21,183,168 |
Inter-revenue streams |  |  | (1,941 | ) |  |  | - |  |  |  | (506,536 | ) |  |  | (508,477 | )
Revenue from external customer contracts |  | $ | 20,616 |  |  | $ | 194,541 |  |  | $ | 20,459,534 |  |  | $ | 20,674,691 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At a point in time |  | $ | 20,616 |  |  | $ | 194,541 |  |  | $ | - |  |  | $ | 215,157 |
Over time |  |  | - |  |  |  | - |  |  |  | 20,459,534 |  |  |  | 20,459,534 |
|  | $ | 20,616 |  |  | $ | 194,541 |  |  | $ | 20,459,534 |  |  | $ | 20,674,691 |
Six months ended June 30, 2023 |  | Hardware |  |  | Software |  |  | Service |  |  | Total |
Total revenue streams |  | $ | 30,482 |  |  | $ | 168,562 |  |  | $ | 6,346,590 |  |  | $ | 6,545,634 |
Inter-revenue streams |  |  | (30,482 | ) |  |  | (85,817 | ) |  |  | - |  |  |  | (116,299 | )
Revenue from external customer contracts |  | $ | - |  |  | $ | 82,745 |  |  | $ | 6,346,590 |  |  | $ | 6,429,335 |
Timing of revenue recognition |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
At a point in time |  | $ | - |  |  | $ | 82,745 |  |  | $ | - |  |  | $ | 82,745 |
Over time |  |  | - |  |  |  | - |  |  |  | 6,346,590 |  |  |  | 6,346,590 |
|  | $ | - |  |  | $ | 82,745 |  |  | $ | 6,346,590 |  |  | $ | 6,429,335 |
| b) | Contract assets and liabilities
The Group has recognized the following revenue-related contract assets and liabilities:
|  | June 30, 2024 |  |  | December 31, 2023 |
Contract assets: |  |  |  |  |  |
Contract assets relating to service contracts |  | $ | 35,756,098 |  |  | $ | 34,213,379 |
Contract liabilities: |  |  |  |  |  |  |  |
Contract liabilities relating to service contracts |  | $ | 48,200 |  |  | $ | 107,603 |
Revenue recognized that was included in the contract liabilities balance at the beginning of the period:
|  | Six months ended June 30, 2024 |  |  | Six months ended June 30, 2023 |
Revenue recognized that was included in the contract liability balance at the beginning of the year |  |  |  |  |  |
Service revenue |  | $ | 54,199 |  |  | $ | - |
| c) | Unfulfilled long-term contracts
Aggregate amount of the transaction price allocated to long-term service contracts that are partially or fully unsatisfied as of June 30, 2024 and December 31, 2023, amounting to $175,466,093 and $241,795,928, respectively. Since June 30, 2023, the Company entered into a significant firm-fixed price contract for building a secure governmental air-gapped network for the Government of Egypt (“GoE”) (“Egypt Contract”), denominated in EGP, includes revenues of approximately EGP 8.4 billion ($209 million, based on the exchange rate as of June 30, 2024). Management expects that the transaction price allocated to the unsatisfied contracts as of June 30, 2024 and December 31, 2023, will be recognized as revenue from 2024 to 2028 and from year 2023 to 2027, respectively. Except for the abovementioned contracts, all other service contracts are for periods of one year or less or are billed based on the amount of time incurred.

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