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Note 14 - Revenue
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

14.

REVENUE

 

Product revenue

 

The Company recorded revenue for product sales of $172 and $273 in the three and six months ended June 30, 2026 and $22 and $22. in the three and six months ended June 30, 2025, respectively. The Company does not incur significant contract costs in fulfilling or obtaining their contracts with customers.

 

Development Contracts

 

The Company has entered into research and development contracts as well as a sales, marketing, and technical support service contract with companies in both the Automotive and Non-Automotive markets. The Company assessed the number of performance obligations associated with the promises under each agreement and recognized $30 and $30 in revenue for performance obligations that had been satisfied as of the three and six months ended June 30, 2026, respectively, and $0 and $64 in the three and six months ended June 30, 2025, in the condensed consolidated statements of operations and comprehensive loss.

 

Disaggregation of Revenue

 

The Company recognized the following revenues by geographic area based on the primary billing address of the customer and by the timing of the transfer of goods or services to customers (point in time or over time), as it believes such criteria best depict how the nature, amount, timing, and uncertainty of its revenue and cash flows are affected by economic factors. Total revenue based on the disaggregation criteria described above is as follows (in thousands):

 

 

 

Three months ended June 30,

 

 

Six months ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Revenue by primary geographical market:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

North America

 

$177

 

 

$5

 

 

$252

 

 

$5

 

EMEA

 

 

—

 

 

 

1

 

 

 

26

 

 

 

65

 

Asia-Pacific

 

 

25

 

 

 

16

 

 

 

25

 

 

 

16

 

Total

 

$202

 

 

$22

 

 

$303

 

 

$86

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue by timing of recognition:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Recognized at a point in time

 

$172

 

 

$22

 

 

$273

 

 

$22

 

Recognized over time

 

 

30

 

 

 

—

 

 

 

30

 

 

 

64

 

Total

 

$202

 

 

$22

 

 

$303

 

 

$86

 

 

Contract Liabilities

 

The Company had no contract liabilities as of six months ended June 30, 2026 and 2025.

 

Remaining Performance Obligations

 

Revenue allocated to remaining performance obligations represents the transaction price allocated to the performance obligations that are unsatisfied, or partially unsatisfied. It includes unearned revenue and amounts that will be invoiced and recognized as revenue in future periods and does not include contracts where the customer is not committed. The customer is not considered committed where they are able to terminate for convenience without payment of a substantive penalty under the contract. Additionally, as a practical expedient, the Company has not disclosed the value of unsatisfied performance obligations for contracts with an original expected length of one year or less.