XML 30 R19.htm IDEA: XBRL DOCUMENT v3.25.2
REVENUE RECOGNITION (Tables)
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
SCHEDULE OF DISAGGREGATION OF REVENUE

The following table represents a disaggregation of revenue for the three and six months ended June 30, 2025, and 2024 (in thousands):

 

   Over time   Point in time   Total 
   Three months ended June 30, 2025 
   Over time   Point in time   Total 
             
Energy  $-   $7   $7 
Aerospace   1,412    562    1,974 
Industrial   1,912    316    2,228 
Research   716    186    902 
Total  $4,040   $1,071   $5,111 

 

   Over time   Point in time   Total 
  

Three months ended June 30, 2024

 
   Over time   Point in time   Total 
             
Energy  $239   $12   $251 
Aerospace   2,694    179    2,873 
Industrial   1,542    300    1,842 
Research   1,174    205    1,379 
Total  $5,649   $696   $6,345 

 

 

NOTE 4: REVENUE RECOGNITION (continued)

 

   Over time   Point in time   Total 
   Six months ended June 30, 2025 
   Over time   Point in time   Total 
             
Energy  $-   $14   $14 
Aerospace   3,251    1,350    4,601 
Industrial   6,036    723    6,759 
Research   1,470    583    2,053 
Total  $10,757   $2,670   $13,427 

 

   Over time   Point in time   Total 
  

Six months ended June 30, 2024

 
   Over time   Point in time   Total 
             
Energy  $239   $30   $269 
Aerospace   4,496    494    4,990 
Industrial   2,801    774    3,575 
Research   2,035    398    2,433 
Total  $9,571   $1,696   $11,267 
SCHEDULE OF COST AND ESTIMATED EARNINGS IN EXCESS OF BILLINGS

Contract assets and contract liabilities on input method type contracts in progress are summarized as follows as of June 30, 2025 (in thousands):

 

      
Costs incurred on contracts in progress  $18,199 
Estimated earnings   8,262 
Costs and estimated earnings on uncompleted contracts   26,461 
Billings to date   (23,468)
Net cost in excess of billings   2,993 
      
Deferred revenue related to non-system contracts   (1,242)
Contract liability in excess of contract assets  $1,751 

Included in accompanying condensed consolidated balance sheet as of June 30, 2025 under the following captions (in thousands):

     
Contract assets  $3,768 
Contract liabilities  $2,017