| SCHEDULE OF DISAGGREGATION OF REVENUE |
The
following table represents a disaggregation of revenue for the three and six months ended June 30, 2026, and 2025 (in thousands):
SCHEDULE OF DISAGGREGATION OF REVENUE
| | |
Over time | | |
Point in time | | |
Total | |
| | |
Three months ended June 30, 2026 | |
| | |
Over time | | |
Point in time | | |
Total | |
| | |
| | |
| | |
| |
| Energy | |
$ | - | | |
$ | - | | |
$ | - | |
| Aerospace | |
| 351 | | |
| 804 | | |
| 1,155 | |
| Industrial | |
| 475 | | |
| 210 | | |
| 685 | |
| Research | |
| 94 | | |
| 19 | | |
| 113 | |
| Total | |
$ | 920 | | |
$ | 1,033 | | |
$ | 1,953 | |
| | |
Over time | | |
Point in time | | |
Total | |
| | |
Three months ended June 30, 2025 | |
| | |
Over time | | |
Point in time | | |
Total | |
| | |
| | |
| | |
| |
| Energy | |
$ | (4 | ) | |
$ | 11 | | |
$ | 7 | |
| Aerospace | |
| 1,371 | | |
| 560 | | |
| 1,931 | |
| Industrial | |
| 1,197 | | |
| 46 | | |
| 1,243 | |
| Research | |
| 174 | | |
| 49 | | |
| 223 | |
| Total | |
$ | 2,738 | | |
$ | 666 | | |
$ | 3,404 | |
| | |
Over time | | |
Point in time | | |
Total | |
| | |
Six months ended June 30, 2026 | |
| | |
Over time | | |
Point in time | | |
Total | |
| | |
| | |
| | |
| |
| Energy | |
$ | - | | |
$ | - | | |
$ | - | |
| Aerospace | |
| 752 | | |
| 1,503 | | |
| 2,255 | |
| Industrial | |
| 796 | | |
| 299 | | |
| 1,095 | |
| Research | |
| 348 | | |
| 100 | | |
| 448 | |
| Total | |
$ | 1,896 | | |
$ | 1,902 | | |
$ | 3,798 | |
NOTE
5: REVENUE RECOGNITION (continued)
| | |
Over time | | |
Point in time | | |
Total | |
| | |
Six months ended June 30, 2025 | |
| | |
Over time | | |
Point in time | | |
Total | |
| | |
| | |
| | |
| |
| Energy | |
$ | (4 | ) | |
$ | 19 | | |
$ | 15 | |
| Aerospace | |
| 3,093 | | |
| 1,343 | | |
| 4,436 | |
| Industrial | |
| 4,616 | | |
| 327 | | |
| 4,943 | |
| Research | |
| 200 | | |
| 143 | | |
| 343 | |
| Total | |
$ | 7,905 | | |
$ | 1,832 | | |
$ | 9,737 | |
|
| SCHEDULE OF COST AND ESTIMATED EARNINGS IN EXCESS OF BILLINGS |
Contract
assets and contract liabilities on input method type contracts in progress are summarized as follows as of June 30, 2026 (in thousands):
SCHEDULE OF COST AND ESTIMATED EARNINGS IN EXCESS OF BILLINGS
| | |
| | |
| Costs incurred on contracts in progress | |
$ | 20,582 | |
| Estimated earnings | |
| 9,254 | |
| Costs and estimated earnings
on uncompleted contracts | |
| 29,836 | |
| Billings to date | |
| (28,632 | ) |
| Net cost in excess of billings | |
| 1,204 | |
| | |
| | |
| Deferred revenue related to non-system contracts | |
| (348 | ) |
| Contract
liability in excess of contract assets | |
$ | 856 | |
| Included in accompanying condensed consolidated balance sheet as of June 30, 2026 under the following captions: | |
| | |
| Contract assets | |
$ | 1,397 | |
| Contract liabilities | |
$ | 541 | |
|