v3.26.1
REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following table depicts the disaggregation of revenue by type of products or services and timing of transfer of products or services (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Type of products or services
System sales$255 $1,025 $341 $13,672 
QCaaS1,860 1,241 3,619 2,774 
Professional services929 785 1,912 1,562 
Other revenue*32 44 62 88 
Total revenue$3,076 $3,095 $5,934 $18,096 
Timing of revenue recognition
Revenue recognized over time$2,797 $3,082 $5,614 $5,419 
Revenue recognized at a point in time279 13 320 12,677 
Total revenue$3,076 $3,095 $5,934 $18,096 
*Other revenue includes support and maintenance and printed circuit board sales.
The following table presents a summary of revenue by geography for the three and six months ended June 30, 2026 and 2025, based on customer location (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
United States$2,175 $710 $3,865 $1,207 
Japan137 156 519 638 
Germany127 1,186 302 13,990 
Canada130 268 271 572 
Other507 775 977 1,690 
Total revenue$3,076 $3,095 $5,934 $18,096 
Schedule of Significant Customers
The tables below present the significant customers on a percentage of total revenue basis for the three and six months ended June 30, 2026 and 2025.
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Customer A41 %— %35 %— %
Customer B— %35 %— %76 %
Customer C— %11 %— %— %
Schedule of Contract Balances and Revenue Recognized
The following table provides information about accounts receivable, contract assets and liabilities as of June 30, 2026 and December 31, 2025 (in thousands):
As of June 30, 2026As of December 31, 2025
Trade accounts receivable and contract assets, net:
Trade accounts receivable, net of allowance for credit losses and excluding unbilled receivables$1,553 $1,021 
Unbilled receivable contract asset466 566 
Contract acquisition costs3,325 940 
Capitalized fulfillment costs717 — 
Total contract assets$6,061 $2,527 
Contract liabilities:
Deferred revenue, current$9,234 $2,778 
Deferred revenue, non-current1,322 560 
Total contract liabilities$10,556 $3,338 
Changes in deferred revenue from contracts with customers were as follows (in thousands):
Six Months Ended June 30,
20262025
Balance at beginning of period$3,338 $19,356 
Deferral of revenue13,103 4,313 
Recognition of deferred revenue(5,885)(18,109)
Balance at end of period$10,556 $5,560