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Revenue | 12 Months Ended
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Dec. 31, 2024
Revenue from Contract with Customer [Abstract] |
Revenue | Note 3 – Revenue The following table represents a disaggregation of revenue from contracts by end markets for the years ended December 31, 2024 and 2023 (in thousands): Schedule of Disaggregation of Revenue
|  | Over time |  |  | Point in time |  |  | Total |
|  | Year Ended December 31, 2024 |
|  | Over time |  |  | Point in time |  |  | Total |
Energy |  | $ | 216 |  |  | $ | 511 |  |  | $ | 727 |
Aerospace |  |  | 11,205 |  |  |  | 1,879 |  |  |  | 13,084 |
Industrial |  |  | 6,921 |  |  |  | 1,350 |  |  |  | 8,271 |
Research |  |  | 3,736 |  |  |  | 1,058 |  |  |  | 4,794 |
Total |  | $ | 22,216 |  |  | $ | 4,660 |  |  | $ | 26,876 |
|  | Over time |  |  | Point in time |  |  | Total |
|  | Year Ended December 31, 2023 |
|  | Over time |  |  | Point in time |  |  | Total |
Energy |  | $ | 4,901 |  |  | $ | 189 |  |  | $ | 5,090 |
Aerospace |  |  | 3,427 |  |  |  | 1,469 |  |  |  | 4,896 |
Industrial |  |  | 6,123 |  |  |  | 2,821 |  |  |  | 8,944 |
Research |  |  | 3,700 |  |  |  | 1,479 |  |  |  | 5,179 |
Total |  | $ | 18,151 |  |  | $ | 5,958 |  |  | $ | 24,109 |
CVD EQUIPMENT CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS December 31, 2024 and 2023 Note 3 – Revenue (continued) The energy market includes customers involved in the manufacture of silicon carbide wafers and batteries. Aerospace market includes customers that manufacture aircraft engines. Industrial end market consists of various end customers in diverse industries. Research market principally represents customers that are universities and other research institutions. The Company has unrecognized contract revenue of approximately $16.4 million at December 31, 2024, which it expects to substantially recognize as revenue within the next twelve months based on over time revenue recognition. Judgment is required to evaluate assumptions including the amount of net contract revenues and the total estimated costs to determine the Company’s progress towards contract completion and to calculate the corresponding amount of revenue to recognize. Changes in estimates for sales of systems occur for a variety of reasons, including but not limited to (i) build accelerations or delays, (ii) product cost forecast changes, (iii) cost related change orders or add-ons, or (iv) changes in other information used to estimate costs. Changes in estimates may have a material effect on the Company’s consolidated financial position and results of operations. Contract assets and contract liabilities on input method type contracts in progress are summarized at December 31 as follows (in thousands): Schedule of Cost and Estimated Earnings in Excess of Billings
|  | 2024 |  |  | 2023 |
Costs incurred on contracts in progress |  | $ | 14,696 |  |  | $ | 9,500 |
Estimated earnings |  |  | 7,052 |  |  |  | 5,083 |
Costs and estimated earnings on uncompleted contracts |  |  | 21,748 |  |  |  | 14,583 |
Billings to date |  |  | (22,059 | ) |  |  | (17,553 | )
Net cost in excess of billings |  |  | (311 | ) |  |  | (2,970 | )
Deferred revenue related to non-systems contracts |  |  | (598 | ) |  |  | (334 | )
Contract liability in excess of contract assets |  | $ | (909 | ) |  | $ | (3,304 | )
Included in accompanying consolidated balance sheets under the following captions (in thousands): |  |  |  |  |  |  |  |
Contract assets |  | $ | 2,226 |  |  | $ | 1,604 |
Contract liabilities |  | $ | 3,135 |  |  | $ | 4,908 |
Of the contract liability balances at December 31, 2023 and December 31, 2022, $4.7 million and $3.7 million was recognized as revenue during the years ended December 31, 2024 and 2023, respectively. Contract assets and contract liabilities at December 31, 2022 were $2.2 million and $4.0 million, respectively. CVD EQUIPMENT CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS December 31, 2024 and 2023

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- 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
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