REVENUE |
9 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2025 |
Dec. 31, 2024 |
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| REVENUE |
Disaggregation of Revenue The Company earns revenue through the sale of products and services. Product and service revenue are the disaggregation of revenue primarily used by management, as this disaggregation allows for the evaluation of market trends and certain product lines and services vary in renewing versus non-renewing nature. The following table disaggregates revenue by recognition method for the three and nine months ended September 30, 2025 and 2024 (in thousands):
The following table disaggregates revenue by type of products and services for the three and nine months ended September 30, 2025 and 2024 (in thousands):
The following table disaggregates revenue by geographic area for the three and nine months ended September 30, 2025 and 2024 (in thousands):
China made up $0.2 million and $7,700 of international sales for the three months ended September 30, 2025 and 2024, respectively, and $0.2 million and $0.6 million of international sales for the nine months ended September 30, 2025 and 2024, respectively. The amount of deferred revenue as of September 30, 2025 and December 31, 2024 reflects the revenue expected to be recognized in future periods related to remaining performance obligations as the Company collects payment in advance of satisfaction of performance obligations. As of September 30, 2025 and December 31, 2024, the Company has $3.0 million and $3.6 million in deferred revenue. As of September 30, 2025 approximately $2.7 million of the balance is expected to be earned within the next 12 months, with $0.3 million to be earned within the next 13 to months. As of December 31, 2024 approximately $3.3 million of the balance was expected to be earned within the next 12 months, with $0.2 million to be earned within the next 13 to 24 months and $0.1 million to be earned within the next 25 to 60 months. As of September 30, 2025 and December 31, 2024, the Company had no contract assets. |
Disaggregation of Revenue The Company earns revenue through the sale of products and services. Product and service revenue are the disaggregation of revenue primarily used by management, as this disaggregation allows for the evaluation of market trends and certain product lines and services vary in renewing versus non-renewing nature. The following table disaggregates revenue by recognition method for the years ended December 31, 2024 and 2023 (in thousands):
The following table disaggregates revenue by type of products and services for the year ended December 31, 2024 and 2023 (in thousands):
The following table disaggregates revenue by geographic area for the year ended December 31, 2024 and 2023 (in thousands):
China made up $0.9 million and $2.8 million of international sales for the years ended December 31, 2024 and 2023, respectively. The amount of deferred revenue as of December 31, 2024 and December 31, 2023 reflects the revenue expected to be recognized in future periods related to remaining performance obligations as the Company collects payment in advance of satisfaction of performance obligations. Because a majority of the Company’s performance obligations are satisfied at a point in time soon after the contract is formed or within one year after the contract is formed, revenue recognized in the following year related to remaining performance obligations is expected to equal deferred revenue, current portion at the beginning of the year. As of December 31, 2024 and of December 31, 2023, the Company has $3.6 million and $3.0 million in deferred revenue. As of December 31, 2024 approximately $3.3 million of the balance is expected to be earned within the next 12 months, with $0.2 million to be earned within the next 13 to 24 months and $0.1 million to be earned within the next 25 to 60 months. As of December 31, 2023, approximately $2.7 million was expected to be earned within the next 12 months, with $0.3 million to be earned within the next 13 to 24 months. As of December 31, 2024 and December 31, 2023, the Company had no contract assets. |
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