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

 

13. REVENUES

 

For each of the identified periods, revenues are categorized as follows (in thousands):

          
   Three Months Ended 
   March 31, 
   2025   2024 
Product sales  $5,970   $13,570 
Maintenance fees   67    27 
Professional services   69    65 
Shipping and handling   256    978 
Discounts and allowances   (38)   (80)
Total revenues  $6,324   $14,561 

 

The following table disaggregates gross revenue from our clients by significant geographic area for the three months ended March 31, 2025 and 2024:

          
   For the Three Months Ended 
   March 31, 
   2025   2024 
United States  $4,798   $13,132 
Serbia   764    1,081 
Romania   391    95 
Croatia   298    94 
Montenegro   73    102 
Bosnia   –    57 
Total revenue  $6,324   $14,561 

 

During the three months ended March 31, 2025 and 2024, 14% and 58% of revenues were derived from federal customers, while 33% and 26% were from state and local governments, respectively. In addition, 25% of revenues in the three months ended March 31, 2025 were sales made outside of the United States compared to 11% in the prior year.

 

At March 31, 2025 and 2024, deferred revenue was $1.9 million and $1.5 million, respectively. These amounts consisted mainly of customer deposits in the amount of $0.7 million and $0.9 million for March 31, 2025 and 2024, respectively, and prepaid multi-year maintenance plans for previously sold products which account for $1.2 million and $0.6 million for March 31, 2025 and 2024, respectively, and pertain to services to be provided through 2035. Revenue recognized during the three months ended March 31, 2025 and 2024 which pertained to revenue deferred in prior years was $48 thousand and $27 thousand respectively.

 

The balance of contract assets is driven by the difference in timing of when revenue is recognized from performance obligations satisfied in the current reporting period and when amounts are invoiced to the customer. The balance of contract liabilities is driven by the difference in timing between when cash is received pursuant to a contract and when the Company’s performance obligations under the contract are satisfied.

 

The following table provides the activity for the contract liabilities recognized (in thousands):

          
   For the Three Months Ended 
   March 31, 
   2025   2024 
Beginning Balance  $1,647   $1,230 
Additions   324    111 
Recognized in revenue   (72)   (250)
Ending Balance  $1,899   $1,091