XML 19 R9.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

REVENUE | 6 Months Ended
--- | ---
Jun. 30, 2024
Revenue from Contract with Customer [Abstract] |
REVENUE | NOTE 3. REVENUE Revenue Recognition Revenue under contract manufacturing agreements that was recognized over time accounted for approximately 74% of net sales for both the three and six months ended June 30, 2024 and approximately 73% and 74% of net sales for the three and six months ended June 30, 2023, respectively. 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.
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 |
We expect substantially all of the remaining performance obligations for the contract assets recorded as of June 30, 2024 to be transferred to receivables within 90 days, with any remaining amounts to be transferred within 180 days. We bill our customers upon shipment with payment terms of up to 120 days.

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -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 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration