| Schedule of Disaggregation of Revenue |
The
following table represents a disaggregation of revenue from contracts by end markets for the years ended December 31, 2025 and 2024 (in
thousands):
Schedule of Disaggregation of Revenue
| | |
Over
time | | |
Point
in time | | |
Total | |
| | |
Year
Ended December 31, 2025 | |
| | |
Over
time | | |
Point
in time | | |
Total | |
| Energy | |
$ | 68 | | |
$ | 19 | | |
$ | 87 | |
| Aerospace | |
| 5,767 | | |
| 2,205 | | |
| 7,972 | |
| Industrial | |
| 10,097 | | |
| 1,472 | | |
| 11,569 | |
| Research | |
| 4,909 | | |
| 1,249 | | |
| 6,158 | |
| Total | |
$ | 20,841 | | |
$ | 4,945 | | |
$ | 25,786 | |
| | |
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 | |
$ | 22,078 | | |
$ | 4,798 | | |
$ | 26,876 | |
|
| Schedule of Cost and Estimated Earnings in Excess of Billings |
Contract
assets and contract liabilities on input method type contracts in progress are summarized for the years ended December 31, 2025 and 2024
as follows (in thousands):
Schedule of Cost and Estimated Earnings in Excess of Billings
| | |
2025 | | |
2024 | |
| Costs incurred on contracts in
progress | |
$ | 21,480 | | |
$ | 14,696 | |
| Estimated earnings | |
| 9,965 | | |
| 7,052 | |
| Costs and estimated earnings
on uncompleted contracts | |
| 31,445 | | |
| 21,748 | |
| Billings to date | |
| (28,631 | ) | |
| (22,059 | ) |
| Net cost in excess of billings | |
| 2,814 | | |
| (311 | ) |
| Deferred revenue related
to other contracts | |
| (196 | ) | |
| (598 | ) |
| Contract
liability in excess of contract assets | |
$ | 2,618 | | |
$ | (909 | ) |
| Included in accompanying consolidated balance
sheets under the following captions (in thousands): | |
| | | |
| | |
| | |
| | | |
| | |
| Contract
assets | |
$ | 3,391 | | |
$ | 2,226 | |
| Contract
liabilities | |
$ | 773 | | |
$ | 3,135 | |
|