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REVENUE (Tables) | 6 Months Ended
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Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
SCHEDULE OF NET SALES BY MARKET | The following tables summarize our net sales by market for the three months ended June 30, 2024 and 2023, respectively: SCHEDULE OF NET SALES BY MARKET
|  | Three Months Ended June 30, 2024 |
|  | Product/ Service Transferred Over Time |  |  | Product Transferred at Point in Time |  |  | Noncash Consideration1 |  |  | Total Net Sales by Market |
Medical |  | $ | 12,725 |  |  | $ | 4,435 |  |  | $ | 711 |  |  | $ | 17,871 |
Aerospace and defense |  |  | 6,097 |  |  |  | 494 |  |  |  | 44 |  |  |  | 6,635 |
Industrial |  |  | 6,163 |  |  |  | 2,667 |  |  |  | 555 |  |  |  | 9,385 |
Total net sales |  | $ | 24,985 |  |  | $ | 7,596 |  |  | $ | 1,310 |  |  | $ | 33,891 |
|  | Three Months Ended June 30, 2023 |
|  | Product/ Service Transferred Over Time |  |  | Product Transferred at Point in Time |  |  | Noncash Consideration1 |  |  | Total Net Sales by Market |
Medical |  | $ | 14,570 |  |  | $ | 5,318 |  |  | $ | 719 |  |  | $ | 20,607 |
Aerospace and defense |  |  | 4,499 |  |  |  | 674 |  |  |  | 182 |  |  |  | 5,355 |
Industrial |  |  | 6,593 |  |  |  | 2,125 |  |  |  | 341 |  |  |  | 9,059 |
Total net sales |  | $ | 25,662 |  |  | $ | 8,117 |  |  | $ | 1,242 |  |  | $ | 35,021 |
1 | Noncash consideration represents material provided by the customer used in the build of the product.
The following tables summarize our net sales by market for the six months ended June 30, 2024 and 2023, respectively:
|  | Six Months Ended June 30, 2024 |
|  | Product/ Service Transferred Over Time |  |  | Product Transferred at Point in Time |  |  | Noncash Consideration1 |  |  | Total Net Sales by Market |
Medical |  | $ | 25,789 |  |  | $ | 9,679 |  |  | $ | 1,508 |  |  | $ | 36,976 |
Aerospace and defense |  |  | 11,301 |  |  |  | 736 |  |  |  | 116 |  |  |  | 12,153 |
Industrial |  |  | 13,110 |  |  |  | 5,014 |  |  |  | 853 |  |  |  | 18,977 |
Total net sales |  | $ | 50,200 |  |  | $ | 15,429 |  |  | $ | 2,477 |  |  | $ | 68,106 |
|  | Six Months Ended June 30, 2023 |
|  | Product/ Service Transferred Over Time |  |  | Product Transferred at Point in Time |  |  | Noncash Consideration1 |  |  | Total Net Sales by Market |
Medical |  | $ | 30,295 |  |  | $ | 10,379 |  |  | $ | 1,305 |  |  | $ | 41,979 |
Aerospace and defense |  |  | 7,914 |  |  |  | 1,224 |  |  |  | 261 |  |  |  | 9,399 |
Industrial |  |  | 13,183 |  |  |  | 4,533 |  |  |  | 815 |  |  |  | 18,531 |
Total net sales |  | $ | 51,392 |  |  | $ | 16,136 |  |  | $ | 2,381 |  |  | $ | 69,909 |
1 | Noncash consideration represents material provided by the customer used in the build of the product.
SCHEDULE OF CONTRACT ASSETS | Contract assets, recorded as such in the Condensed Consolidated Balance Sheet, consist of unbilled amounts related to revenue recognized over time. Significant changes in the contract assets balance during the six months ended June 30, 2024 were as follows: SCHEDULE OF CONTRACT ASSETS
Balances as of January 1, 2024 |  | $ | 14,481 |
Increase (decrease) attributed to: |  |  |  |
Amounts transferred over time to contract assets |  |  | 27,904 |
Allowance for current expected credit losses |  |  | (14 | )
Amounts invoiced during the period |  |  | (27,414 | )
Balance outstanding as of June 30, 2024 |  | $ | 14,957 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
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