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NET SALES (Tables)
3 Months Ended
Mar. 31, 2025
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 March 31, 2025 and 2024, respectively:

 

   Product/ Service Transferred
Over Time
   Product Transferred at Point in Time   Noncash Consideration1   Total Net Sales by Market 
   Three Months Ended March 31, 2025 
   Product/ Service Transferred
Over Time
   Product Transferred at Point in Time   Noncash Consideration1   Total Net Sales by Market 
Medical Device  $5,772   $1,730   $568   $8,070 
Medical Imaging   6,708    1,873    7    8,588 
Industrial   4,706    2,132    107    6,945 
Aerospace and Defense   2,782    478    32    3,292 
Total net sales  $19,968   $6,213   $714   $26,895 

 

   Product/ Service Transferred
Over Time
   Product Transferred at Point in Time   Noncash Consideration1   Total Net Sales by Market 
   Three Months Ended March 31, 2024 
   Product/ Service Transferred
Over Time
   Product Transferred at Point in Time   Noncash Consideration1   Total Net Sales by Market 
Medical Device(2)  $7,167   $2,777   $794   $10,738 
Medical Imaging(2)   7,073    2,468    3    9,544 
Industrial   5,429    2,347    297    8,073 
Aerospace and Defense   5,545    242    73    5,860 
Total net sales  $25,214   $7,834   $1,167   $34,215 

 

1 Noncash consideration represents material provided by the customer used in the build of the product.
2 Medical, as reported in the prior year period filing, has been split between Medical Device and Medical Imaging to conform with the current year presentation.
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 three months ended March 31, 2025 were as follows:

 

Balances as of January 1, 2025  $13,792 
Increase (decrease) attributed to:     
Amounts transferred over time to contract assets   19,968 
Allowance for current expected credit losses   - 
Amounts invoiced during the period   (20,356)
Balance outstanding as of March 31, 2025  $13,404