v3.26.1
Note 5 - Revenue
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Notes to Financial Statements    
Revenue from Contract with Customer [Text Block]

5.

REVENUE

 

Disaggregation of Revenue

 

The Company believes that the nature, amount, timing, and uncertainty of its revenue and cash flows and how they are affected by economic factors are most appropriately depicted by (i) geographic region, based on the shipping location of the customer, and (ii) type of product or service provided.

 

 

Total revenue based on the disaggregation criteria described above is as follows (dollars in thousands):

 

  

Three Months Ended March 31,

 
  

2026

  

2025

 
  

Revenue

  

% of revenue

  

Revenue

  

% of revenue

 

Revenue by geographic area

                

United States

 $1,150   100% $533   86%

Europe

  -   0%  80   13%

Rest of the world

  -   0%  7   1%

Total

 $1,150   100% $620   100%
                 

Revenue by type

                

Products

 $943   82% $613   99%

Rentals

  207   18%  7   1%

Total

 $1,150   100% $620   100%

 

Revenue from products includes related services, which represented less than 10% of product revenue for both periods. In the three months ended March 31, 2026, sales included $1.2 million, or 100%, of total revenue to U.S. customers. In the three months ended March 31, 2025, sales included $0.5 million, or 86%, and $0.2 million, or 25%, of total revenue to U.S. and Serbia, respectively. Customer concentrations are disclosed in Note 6.

 

Contract assets. As of March 31, 2026 and December 31, 2025, there were no contract assets, representing unbilled receivables where revenue was recognized in advance of customer billings.

 

Remaining Performance Obligations. Remaining Performance Obligations (“RPO”) comprise deferred revenue plus unbilled contract revenue. As of March 31, 2026 and December 31, 2025, there was no RPO.

5.

REVENUE

 

Disaggregation of Revenue

 

The Company believes that the nature, amount, timing and uncertainty of its revenue and cash flows and how they are affected by economic factors are most appropriately depicted by (i) geographic region, based on the shipping location of the customer, and (ii) type of product or service provided.

 

Total revenue based on the disaggregation criteria described above is as follows (in thousands, except percentages):

 

  

Year Ended December 31,

 
  

2025

  

2024

 
  

Revenue

  

% of revenue

  

Revenue

  

% of revenue

 

Revenue by geographic area

                

United States

 $4,360   88% $3,266   74%

Europe

  580   12%  991   23%

Rest of the world

  -   -%  134   3%

Total

 $4,940   100% $4,391   100%
                 

Revenue by type

                

Products

 $4,746   96% $4,254   97%

Rentals

  194   4%  137   3%

Total

 $4,940   100% $4,391   100%

 

Revenue from products includes related services, which represented less than 10% of product revenue for both periods. In the year ended December 31, 2025, sales included $658,000 or 13% of total revenue to Serbia. In the year ended December 31, 2024, sales included $135,000 or 3%, $494,000 or 11% and $193,000 or 4% of total revenue to Canada, Serbia and Germany, respectively. Customer concentrations are disclosed in Note 6.

 

Contract assets. There were no contract assets, representing unbilled receivables where revenue has been recognized in advance of customer billings, as of December 31, 2025 and 2024.

 

Remaining Performance Obligations. Remaining Performance Obligations (“RPO”) comprise deferred revenue plus unbilled contract revenue. As of December 31, 2025 and 2024, there was no RPO.