Note 13 - Revenues |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Notes to Financial Statements | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue from Contract with Customer [Text Block] |
For each of the identified periods, revenues can be categorized into the following:
During the year ended December 31, 2025 and 2024, 29% and 62% of revenues were derived from federal, state and local governments, respectively. In addition, 40% of revenues in the year ended December 31, 2025 were international sales compared to 25% in the prior year.
At December 31, 2025 and 2024, deferred revenue was $2.5 million and $1.6 million, respectively. These amounts consisted mainly of customer deposits in the amount of $1.5 million and $0.6 million for December 31, 2025 and 2024, respectively and prepaid multi-year maintenance plans for previously sold products which account for $1.0 million and $1.1 million for December 31, 2025 and 2024, respectively, and pertain to services to be provided through 2035. Revenue recognized during the year ended December 31, 2025 and 2024 which pertained to revenue deferred in prior years was $0.1 million and $1.0 million respectively.
The balance of contract assets is driven by the difference in timing of when revenue is recognized from performance obligations satisfied in the current reporting period and when amounts are invoiced to the customer. The balance of contract liabilities is driven by the difference in timing between when cash is received pursuant to a contract and when the Company’s performance obligations under the contract are satisfied.
The following table provides the activity for the contract liabilities recognized:
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