v3.26.1
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2026
Accounting Policies [Abstract]  
Summary of Revenue Recognized

Revenue recognized for the three and six months ended June 30, 2026 and 2025, were as follows:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(In thousands)

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Product Revenue

 

$

2,691

 

 

$

3

 

 

$

4,382

 

 

$

3

 

Product Development Contract Revenue

 

 

1,179

 

 

 

1,012

 

 

 

1,246

 

 

 

2,722

 

Engineering Services Revenue

 

 

1,913

 

 

 

—

 

 

 

3,693

 

 

 

—

 

Revenue, net

 

$

5,783

 

 

$

1,015

 

 

$

9,321

 

 

$

2,725

 
Summary of Opening and Closing Balances of Our Accounts Receivable, Unbilled Receivables, Contract Assets and Deferred Revenue

The opening and closing balances of our accounts receivable, unbilled receivables, contract assets and deferred revenue as of June 30, 2026 and December 31, 2025, are as follows:

 

(In thousands)

 

Accounts Receivable

 

 

Unbilled Receivable

 

 

Contract Assets
(Current)

 

 

Deferred Revenue
(Current)

 

Ending Balance as of December 31, 2025

 

$

1,055

 

 

$

2,455

 

 

$

36

 

 

$

319

 

Increase, net

 

 

1,256

 

 

 

877

 

 

 

4

 

 

 

896

 

Ending Balance as of June 30, 2026

 

$

2,311

 

 

$

3,332

 

 

$

40

 

 

$

1,215