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REVENUES
 6 Months Ended
Jun. 30, 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   Six Months Ended 
   June 30,   June 30, 
   2025   2024   2025   2024 
Product sales  $6,784   $13,981   $12,754   $27,551 
Maintenance fees   71    26    138    53 
Professional services   78    357    147    422 
Shipping and handling   150    549    406    1,526 
Discounts and allowances   (8)   (101)   (46)   (179)
Total revenues  $7,075   $14,812   $13,399   $29,373 

 

The following table disaggregates gross revenue from our clients by significant geographic area for the three and six months ended June 30, 2025 and 2024:

                    
   For the Three Months Ended   Six Months Ended 
   June 30,   June 30, 
   2025   2024   2025   2024 
United States  $3,822   $12,041   $8,621   $25,173 
Serbia   1,370    1,891    2,132    2,972 
Romania   712    448    1,103    543 
Croatia   425    174    723    268 
Montenegro   286    155    360    257 
Bosnia   329    30    329    87 
Other   131    73    131    73 
Total revenue  $7,075   $14,812   $13,399   $29,373 

 

During the three and six months ended June 30, 2025 and 2024, 2%, 8%, 35% and 47% of revenues were derived from federal customers, respectively, while 32%, 32%, 34% and 30% were from state and local governments, respectively. In addition, 47% and 37% of revenues in the three and six months ended June 30, 2025 were sales made outside of the United States compared to 19% and 15% in the prior year.

 

At June 30, 2025 and 2024, deferred revenue was $1.7 million and $1.5 million, respectively. These amounts consisted mainly of customer deposits in the amount of $0.5 million and $1.0 million for June 30, 2025 and 2024, respectively, and prepaid multi-year maintenance plans for previously sold products which account for $1.2 million and $0.8 million for June 30, 2025 and 2024, respectively, and pertain to services to be provided through 2035. Revenue recognized during the six months ended June 30, 2025 and 2024 which pertained to revenue deferred in prior years was $114 thousand and $53 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 Six Months Ended 
   June 30, 
   2025   2024 
Beginning Balance  $1,647   $1,230 
Additions   60    202 
Recognized in revenue   (32)   80 
Ending Balance  $1,675   $1,512