v3.25.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
SCHEDULE OF SUPPLEMENTAL INFORMATION RELATED TO MARKETABLE SECURITIES

The below table provides supplemental information related to marketable securities:

 

   2024   2023   2022 
   For the Years Ended 
   December 31, 
   2024   2023   2022 
Net gains recognized during the period on trading securities  $79   $76   $- 
Less: net gains recognized during the period on trading securities sold during the period   (40)   (25)   - 
Unrealized gains recognized during the reporting period on trading securities still held at the reporting date  $39   $51   $- 
SCHEDULE OF CHANGE IN ALLOWANCE FOR EXPECTED CREDIT LOSS

The below table illustrates the change in the allowance for expected credit losses for the years ended December 31, 2024 and 2023.

 

   2024   2023 
Allowance for Expected Credit Losses          
Beginning balance as of January 1,  $6,750   $2,548 
Provision for credit losses   1,720    2,555 
Other   (44)   1,647 
Ending balance as of December 31,  $8,426   $6,750 
SCHEDULE OF RESERVE FOR SLOW-MOVING OR EXCESS IN INVENTORY

The below table illustrates the change in the reserve for slow-moving or excess inventory for the years ended December 31, 2024 and 2023.

 

   2024   2023 
Inventory Reserve          
Beginning balance as of January 1,  $777   $298 
Provision for slow moving and obsolete inventory   2,352    527 
Other   -    (48)
Ending balance as of December 31,  $3,129   $777 

SCHEDULE OF ESTIMATED USEFUL LIVES OF PROPERTY AND EQUIPMENT

 

   Useful Lives
Asset  (In Years)
    
Computer software and office and computer equipment  3 - 5
Machinery and equipment, automobiles, furniture and fixtures  3 - 10
Installed Level 2 electric vehicle charging stations  3 - 7
Installed Level 3 (DC Fast Chargers (“DCFC”)) electric vehicle charging stations  5
Buildings  39

SCHEDULE OF REVENUE RECOGNITION BY CONTRACT

The following table summarizes our revenue recognized in the consolidated statements of operations:

 

   2024   2023   2022 
   For The Years Ended 
   December 31, 
   2024   2023   2022 
Revenues - Recognized at a Point in Time               
Product sales  $81,703   $109,416   $46,018 
Charging service revenue    21,445    15,646    6,866 
Warranty   1,535    -    - 
Other   1,535    1,026    1,393 
Total Revenues - Recognized at a Point in Time   106,218    126,088    54,277 
                
Revenues - Recognized Over a Period of Time:               
Network fees   8,716    7,481    4,370 
Warranty   4,892    3,258    928 
Total Revenues - Recognized Over a Period of Time   13,608    10,739    5,298 
                
Revenues- Other               
Car-sharing services   4,667    3,302    1,268 
Grant and fees rebate   1,704    469    296 
Total Revenues - Other   6,371    3,771    1,564 
                
Total Revenue  $126,197   $140,598   $61,139 

SCHEDULE OF REVENUE RECOGNITION BY GEOGRAPHICAL AREA

The following table summarizes our revenue recognized in the consolidated statements of operations by geographical area:

 

   2024   2023   2022 
   For The Years Ended 
   December 31, 
   2024   2023   2022 
Revenues by Geographical Area               
United States  $90,349   $104,714   $40,828 
International   35,848    35,884    20,311 
Total Revenue  $126,197   $140,598   $61,139 
SCHEDULE OF OUTSTANDING DILUTED SHARES EXCLUDED FROM DILUTED LOSS PER SHARE COMPUTATION

The following common share equivalents are excluded from the calculation of weighted average common shares outstanding because their inclusion would have been anti-dilutive:

 

   2024   2023   2022 
   For the Years Ended 
   December 31, 
   2024   2023   2022 
Warrants   1,150,152    1,150,152    1,592,203 
Options   986,165    982,844    1,060,535 
Restricted stock units   1,160,667    -    - 
Total potentially dilutive shares   3,296,984    2,132,996    2,652,738