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Revenue Recognition
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Recognition

Note 10 - Revenue Recognition

 

Disaggregation of Revenue

 

We have identified three material revenue categories in our business: (i) verification and certification service revenue, (ii) product sales, (iii) professional services revenue.

 

 

Revenue attributable to each of our identified revenue categories is disaggregated in the table below (amounts in thousands).

 

   2025  

2024

 
   Three months ended March 31, 
   2025  

2024

 
Revenues:        
Verification and certification service revenue  $4,182   $4,434 
Product sales   702    733 
Professional services   389    415 
Total revenues   5,273    5,582 

 

Contract Balances

 

As of March 31, 2025 and December 31, 2024, accounts receivable from contracts with customers, net of allowance for doubtful accounts, was approximately $1.8 million.

 

As of March 31, 2025 and December 31, 2024, deferred revenue from contracts with customers was approximately $1.7 million. The balance of the contract liabilities at March 31, 2025 and December 31, 2024 are expected to be recognized as revenue within one year or less of the invoice date.

 

The following table reflects the changes in our contract liabilities during the three month period ended March 31, 2025 (amounts in thousands):

 

Deferred revenue:    
Unearned revenue December 31, 2024  $1,748 
Unearned billings   949 
Revenue recognized   (953)
Unearned revenue March 31, 2025  $1,744