v3.26.1
REVENUE (Tables)
6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Revenue from Contracts with Customers Disaggregated by Geography

The following table presents revenue from contracts with customers disaggregated by geography:

 

 

Three months ended June 30,

 

 

Six months ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Europe

 

$

520,875

 

 

$

 

 

$

919,739

 

 

$

 

United States

 

 

4,052

 

 

 

 

 

 

12,832

 

 

 

 

Total

 

$

524,927

 

 

$

 

 

$

932,571

 

 

$

 

Schedule of Revenue from Contracts with Customers Disaggregated by Product and Service

The following table presents revenue from contracts with customers disaggregated by product and service type:

 

 

Three months ended June 30,

 

 

Six months ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Orbit:

 

 

 

 

 

 

 

 

 

 

 

 

SaaS and hosted software subscriptions

 

$

85,661

 

 

$

 

 

$

134,160

 

 

$

 

Application maintenance services

 

 

19,495

 

 

 

 

 

 

38,275

 

 

 

 

Total

 

 

105,156

 

 

 

 

 

 

172,435

 

 

 

 

Lyocon:

 

 

 

 

 

 

 

 

 

 

 

 

Product sales

 

 

380,121

 

 

 

 

 

 

697,709

 

 

 

 

Professional services revenue

 

 

39,650

 

 

 

 

 

 

62,427

 

 

 

 

Total

 

 

419,771

 

 

 

 

 

 

760,136

 

 

 

 

Total revenue

 

$

524,927

 

 

$

 

 

$

932,571

 

 

$

 

Schedule of Revenue from Contracts with Customers Disaggregated by Timing of Revenue Recognition

The following table presents revenue from contracts with customers disaggregated by the timing of revenue recognition:

 

 

Three months ended June 30,

 

 

Six months ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Revenue recognized at a point in time

 

$

419,771

 

 

$

 

 

$

760,136

 

 

$

 

Revenue recognized over time

 

 

105,156

 

 

 

 

 

 

172,435

 

 

 

 

Total

 

$

524,927

 

 

$

 

 

$

932,571

 

 

$

 

Schedule of Accounts Receivable, Contract Assets and Contract Liabilities Accounts receivable, contract assets, and contract liabilities were as follows on the dates presented:

 

 

Accounts Receivable

 

 

Contract Assets

 

 

Contract Liabilities

 

December 31, 2025

 

 

 

 

 

 

 

 

 

June 30, 2026

 

 

395,003

 

 

 

13,160

 

 

 

494,323