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REVENUE (Tables)
 12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
SCHEDULE OF DISAGGREGATES OF REVENUE

The following table disaggregates the Company’s revenue for the years ended December 31, 2023 and 2022 (in thousands):

 

   HW   Monitoring   Total 
Year ended December 31, 2023:               
PG Segment  $2,994   $4,006   $7,000 
CP Segment   803    256    1,059 
Total Revenue  $3,797   $4,262   $8,059 

 

   HW   Monitoring   Total 
Year ended December 31, 2022:               
PG Segment  $2,234   $3,660   $5,894 
CP Segment   854    252    1,106 
Total Revenue  $3,088   $3,912   $7,000 
SCHEDULE OF DEFERRED REVENUE ACTIVITY

Deferred revenue activity for the year ended December 31, 2023 can be seen in the table below (in thousands):

 

   HW   Monitoring   Total 
Balance at December 31, 2022  $3,751   $2,420   $6,171 
Additions during the period   1,595    4,461    6,056 
Recognized as revenue   (2,381)   (4,262)   (6,643)
Balance at December 31, 2023  $2,965   $2,619   $5,584 
                
Amounts to be recognized as revenue in the year ending:  
December 31, 2024  $1,841   $2,193   $4,034 
December 31, 2025   956    424    1,380 
December 31, 2026 and thereafter   168    2    170 
Total  $2,965   $2,619   $5,584 

Deferred revenue activity for the year ended December 31, 2022 can be seen in the table below (in thousands):

 

   HW   Monitoring   Total 
Balance at December 31, 2021  $3,268   $2,125   $5,393 
Additions during the period   2,776    4,207    6,983 
Recognized as revenue   (2,293)   (3,912)   (6,205)
Balance at December 31, 2022  $3,751   $2,420   $6,171 
 
SCHEDULE OF RECONCILIATION OF HARDWARE REVENUE

 

Reconciliation of Hardware Revenue  2023   2022 
Amortization of deferred revenue  $2,381   $2,293 
Sales of custom designed units and related accessories   259    — 
Hardware sales (new product versions)   475    — 
Other accessories, services, shipping and miscellaneous charges   682    795 
Total hardware revenue  $3,797   $3,088 
SCHEDULE OF DEFERRED CHARGES ACTIVITY

Deferred charges relate only to the sale of HW. Deferred charges activity for the year ended December 31, 2023 can be seen in the table below (in thousands):

 

      
Balance at December 31, 2022  $1,694 
Additions during the period   655 
Recognized as cost of sales   (1,064)
Balance at December 31, 2023  $1,285 
      
Amounts to be recognized as cost of sales in the year ending:     
December 31, 2024  $809 
December 31, 2025   406 
December 31, 2026 and thereafter   70 
   $1,285 

 

Deferred charges relate only to the sale of HW. Deferred charges activity for the year ended December 31, 2022 can be seen in the table below (in thousands):

 

      
Balance at December 31, 2021  $1,513 
Additions during the period   1,267 
Recognized as cost of sales   (1,086)
Balance at December 31, 2022  $1,694 
SCHEDULE OF RECONCILIATION OF COGS EXPENSE

 

Reconciliation of COGS Expense  2023   2022 
Amortization of deferred COGS  $1,064   $1,086 
COGS of custom designed units and related accessories   67    — 
COGS of hardware sales (new product versions)   215    — 
Data costs for monitoring   299    325 
Other accessories, services, shipping and miscellaneous charges   410    518 
Total COGS expense  $2,055   $1,929 
SCHEDULE OF SALES COMMISSIONS CONTRACT ASSETS

The following table provides a reconciliation of the Company’s sales commissions contract assets for the year ended December 31, 2023 (in thousands):

 

   HW   Monitoring   Total 
Balance at December 31, 2022  $319   $80   $399 
Additions during the period   148    53    201 
Amortization of sales commissions   (199)   (37)   (236)
Balance at December 31, 2023  $268   $96   $364 
The following table provides a reconciliation of the Company’s sales commissions contract assets for the year ended December 31, 2022 (in thousands):

 

   HW   Monitoring   Total 
Balance at December 31, 2021  $242   $53   $295 
Additions during the period   233    55    288 
Amortization of sales commissions   (156)   (28)   (184)
Balance at December 31, 2022  $319   $80   $399 
 
SCHEDULE OF SALES COMMISSIONS EXPENSE

 

     
Amounts to be recognized as sales commissions expense in the year ending:    
December 31, 2024  $202 
December 31, 2025   119 
December 31, 2026 and thereafter   43 
Total  $364