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REVENUE (Tables)
 3 Months Ended
Mar. 31, 2024
Schedule Of Deferred Charges Activity  
SCHEDULE OF DISAGGREGATES OF REVENUE

The following table disaggregates the Company’s revenue for the three-month periods ended March 31, 2024 and 2023 (in thousands):

 

   Hardware   Monitoring   Total 
Three months ended March 31, 2024:               
PG Segment  $753   $1,041   $1,794 
CP Segment   277    61    338 
Total Revenue  $1,030   $1,102   $2,132 

 

   Hardware   Monitoring   Total 
Three months ended March 31, 2023:               
PG Segment  $549   $958   $1,507 
CP Segment   176    66    242 
Total Revenue  $725   $1,024   $1,749 
SCHEDULE OF DEFERRED REVENUE ACTIVITY

Deferred revenue activity for the three-month period ended March 31, 2024 can be seen in the table below (in thousands):

 

   Hardware   Monitoring   Total 
Balance at December 31, 2023  $2,965   $2,619   $5,584 
Additions during the period   —    1,081    1,081 
Recognized as revenue   (535)   (1,102)   (1,637)
Balance at March 31, 2024  $2,430   $2,598   $5,028 
                
Amounts to be recognized as revenue in the twelve-month-period ending:               
March 31, 2025  $1,621   $2,202   $3,823 
March 31, 2026   751    393    1,144 
March 31, 2027 and thereafter   58    3    61 
Total  $2,430   $2,598   $5,028 
SCHEDULE OF RECONCILIATION OF HARDWARE REVENUE

The following table provides a reconciliation of the Company’s hardware revenue for the three-month periods ended March 31, 2024 and 2023 (in thousands):

 

Reconciliation of Hardware Revenue  2024   2023 
  

Three months ended

March 31,

 
Reconciliation of Hardware Revenue  2024   2023 
Amortization of deferred revenue  $535   $585 
Hardware sales (new product versions)   376    — 
Other accessories, services, shipping and miscellaneous charges   119    140 
Total hardware revenue  $1,030   $725 
SCHEDULE OF DEFERRED CHARGES ACTIVITY

Deferred COGS relate only to the sale of equipment. Deferred COGS activity for the three-month period ended March 31, 2024 can be seen in the table below (in thousands):

 

      
Balance at December 31, 2023  $1,285 
Additions, net of adjustments, during the period   — 
Recognized as cost of sales   (235)
Balance at March 31, 2024  $1,050 
      
Amounts to be recognized as COGS in the twelve-month-period ending:     
March 31, 2025  $709 
March 31, 2026   316 
March 31, 2027 and thereafter   25 
   $1,050 
SCHEDULE OF RECONCILIATION OF COGS EXPENSE

The following table provides a reconciliation of the Company’s COGS expense for the three-month periods ended March 31, 2024 and 2023 (in thousands):

 

Reconciliation of COGS Expense  2024   2023 
  

Three months ended

March 31,

 
Reconciliation of COGS Expense  2024   2023 
Amortization of deferred COGS  $235   $268 
COGS of hardware sales (new product versions)   163    — 
Data costs for monitoring   62    75 
Other COGS of accessories, services, shipping and miscellaneous charges   81    90 
Total COGS expense  $541   $433 
SCHEDULE OF SALES COMMISSIONS CONTRACT ASSETS

The following table provides a reconciliation of the Company’s sales commissions contract assets for the three-month period ended March 31, 2024 (in thousands):

 

   Hardware   Monitoring   Total 
Balance at December 31, 2023  $268   $96   $364 
Additions during the period   —    8    8 
Amortization of sales commissions   (48)   (10)   (58)
Balance at March 31, 2024  $220   $94   $314 
SCHEDULE OF SALES COMMISSIONS EXPENSE

Amounts to be recognized as sales commission expense in the twelve-month-period ending (in thousands):

 

      
March 31, 2025  $184 
March 31, 2026   101 
March 31, 2027 and thereafter   29 
Total  $314