| Schedule of Disaggregated Revenues |
The following table presents our disaggregated revenues by type, timing and geographical region.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
June 30, |
|
|
Six Months Ended
June 30, |
|
(dollars in thousands) |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Type of Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
Product revenue |
|
$ |
43,446 |
|
|
$ |
3,605 |
|
|
$ |
81,813 |
|
|
$ |
6,829 |
|
Service revenue |
|
|
23,603 |
|
|
|
2,496 |
|
|
|
32,926 |
|
|
|
3,305 |
|
Development revenue |
|
|
16,723 |
|
|
|
172 |
|
|
|
19,155 |
|
|
|
388 |
|
Total revenue |
|
$ |
83,772 |
|
|
$ |
6,273 |
|
|
$ |
133,894 |
|
|
$ |
10,522 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Timing of Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
Revenue recognized point in time |
|
$ |
49,594 |
|
|
$ |
6,021 |
|
|
$ |
90,156 |
|
|
$ |
10,005 |
|
Revenue recognized over time |
|
|
34,178 |
|
|
|
252 |
|
|
|
43,738 |
|
|
|
517 |
|
Total revenue |
|
$ |
83,772 |
|
|
$ |
6,273 |
|
|
$ |
133,894 |
|
|
$ |
10,522 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Geographical Region |
|
|
|
|
|
|
|
|
|
|
|
|
Israel |
|
$ |
37,460 |
|
|
$ |
1,259 |
|
|
$ |
59,058 |
|
|
$ |
3,747 |
|
Europe |
|
|
19,384 |
|
|
|
3,111 |
|
|
|
31,455 |
|
|
|
3,111 |
|
Asia - Other |
|
|
2,587 |
|
|
|
40 |
|
|
|
14,587 |
|
|
|
51 |
|
Africa |
|
|
4,261 |
|
|
|
- |
|
|
|
4,882 |
|
|
|
- |
|
North America |
|
|
17,278 |
|
|
|
139 |
|
|
|
20,591 |
|
|
|
356 |
|
United Arab Emirates |
|
|
1,542 |
|
|
|
1,724 |
|
|
|
1,847 |
|
|
|
3,257 |
|
Other |
|
|
1,260 |
|
|
|
- |
|
|
|
1,474 |
|
|
|
- |
|
Total revenue |
|
$ |
83,772 |
|
|
$ |
6,273 |
|
|
$ |
133,894 |
|
|
$ |
10,522 |
|
|
| Schedule of Contract Assets and Liabilities |
The table below details the activity in our contract assets during the six months ended June 30, 2026 and the year ended December 31, 2025.
|
|
|
|
|
|
|
|
|
(dollars in thousands) |
|
Six Months Ended
June 30,
2026 |
|
|
Year Ended
December 31,
2025 |
|
Balance, beginning of period |
|
$ |
3,171 |
|
|
$ |
206 |
|
Contract assets acquired in business combination |
|
|
17,722 |
|
|
|
- |
|
Contract assets recognized |
|
|
42,201 |
|
|
|
8,476 |
|
Reclassification to accounts receivable, net |
|
|
(17,940 |
) |
|
|
(5,511 |
) |
Balance, end of period |
|
$ |
45,154 |
|
|
$ |
3,171 |
|
The table below details the activity in our contract liabilities during the six months ended June 30, 2026 and the year ended December 31, 2025.
|
|
|
|
|
|
|
|
|
(dollars in thousands) |
|
Six Months Ended
June 30,
2026 |
|
|
Year Ended
December 31,
2025 |
|
Balance, beginning of period |
|
$ |
8,501 |
|
|
$ |
329 |
|
Contract liabilities acquired in business combinations |
|
|
25,422 |
|
|
|
7,374 |
|
Effect of deconsolidation of subsidiary |
|
|
(337 |
) |
|
|
- |
|
Additions |
|
|
14,489 |
|
|
|
9,542 |
|
Recognized as revenue |
|
|
(18,389 |
) |
|
|
(8,744 |
) |
Balance, end of period |
|
$ |
29,686 |
|
|
$ |
8,501 |
|
|