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REVENUE (Tables)
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
SCHEDULE OF DISAGGREGATES OF REVENUE

The following table disaggregates the Company’s revenue for the six- and three-month periods ended June 30, 2024 and 2023 (in thousands):

 

   Hardware   Monitoring   Total 
Six months ended June 30, 2024:               
PG Segment  $1,767   $2,088   $3,855 
CP Segment   428    124    552 
Total Revenue  $2,195   $2,212   $4,407 

 

   Hardware   Monitoring   Total 
Six months ended June 30, 2023:               
PG Segment  $1,237   $1,959   $3,196 
CP Segment   396    130    526 
Total Revenue  $1,633   $2,089   $3,722 

 

   Hardware   Monitoring   Total 
Three months ended June 30, 2024:               
PG Segment  $1,014   $1,047   $2,061 
CP Segment   151    63    214 
Total Revenue  $1,165   $1,110   $2,275 

 

   Hardware   Monitoring   Total 
Three months ended June 30, 2023:               
PG Segment  $688   $1,001   $1,689 
CP Segment   220    64    284 
Total Revenue  $908   $1,065   $1,973 
SCHEDULE OF DEFERRED REVENUE ACTIVITY

Deferred revenue activity for the six months ended June 30, 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   —    2,235    2,235 
Recognized as revenue   (1,027)   (2,212)   (3,239)
Balance at June 30, 2024  $1,938   $2,642   $4,580 
                
Amounts to be recognized as revenue in the twelve-month-period ending:               
June 30, 2025  $1,400    2,190    3,590 
June 30, 2026   534    448    982 
June 30, 2027 and thereafter   4    4    8 
Total  $1,938    2,642    4,580 
SCHEDULE OF RECONCILIATION OF HARDWARE REVENUE

The following table provides a reconciliation of the Company’s hardware revenue for the six- and three-month periods ended June 30, 2024 and 2023 (in thousands):

 

Reconciliation of Hardware Revenue  2024   2023   2024   2023 
  

Six months ended

June 30,

  

Three months ended

June 30,

 
Reconciliation of Hardware Revenue  2024   2023   2024   2023 
Amortization of deferred revenue  $1,027   $1,192   $492   $607 
Sales of custom designed units and related accessories   —    92    —    92 
Hardware sales (new product versions)   955    —    579    — 
Other accessories, services, shipping and miscellaneous charges   213    349    94    209 
Total hardware revenue  $2,195   $1,633   $1,165   $908 
SCHEDULE OF DEFERRED CHARGES ACTIVITY

Deferred COGS relate only to the sale of equipment. Deferred COGS activity for the six-month period ended June 30, 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 COGS   (451)
Balance at June 30, 2024  $834 
      
Amounts to be recognized as COGS in the twelve-month-period ending:     
June 30, 2025  $608 
June 30, 2026   224 
June 30, 2027 and thereafter   2 
   $834 
SCHEDULE OF RECONCILIATION OF COGS EXPENSE

The following table provides a reconciliation of the Company’s COGS expense for the six- and three-month periods ended June 30, 2024 and 2023 (in thousands):

 

Reconciliation of COGS Expense  2024   2023   2024   2023 
  

Six months ended

June 30,

  

Three months ended

June 30,

 
Reconciliation of COGS Expense  2024   2023   2024   2023 
Amortization of deferred COGS  $451   $540   $216   $272 
COGS of custom designed units and related accessories   —    23    —    23 
COGS of hardware sales (new product versions)   430    —    268    — 
Data costs for monitoring   123    148    61    73 
Other COGS of accessories, services, shipping and miscellaneous charges   147    205    66    115 
Total COGS expense  $1,151   $916   $610   $483 
SCHEDULE OF SALES COMMISSIONS CONTRACT ASSETS

The following table provides a reconciliation of the Company’s sales commissions contract assets for the six-month period ended June 30, 2024 (in thousands):

 

    Hardware     Monitoring     Total  
Balance at December 31, 2023   $ 268     $ 96     $ 364  
Additions during the period     —       21       21  
Amortization of sales commissions     (91 )     (21 )     (112 )
Balance at June 30, 2024   $ 177       96       273  
SCHEDULE OF SALES COMMISSIONS EXPENSE

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

 

      
June 30, 2025  $167 
June 30, 2026   82 
June 30, 2027 and thereafter   24 
Total  $273