v3.26.1
Note 5 - Revenue
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

5.

REVENUE

 

Disaggregation of Revenue

 

The Company believes that the nature, amount, timing, and uncertainty of its revenue and cash flows and how they are affected by economic factors are most appropriately depicted by (i) geographic region, based on the shipping location of the customer, and (ii) type of product or service provided.

 

5.

REVENUE (cont.)

 

Total revenue based on the disaggregation criteria described above is as follows (dollars in thousands):

 

  

Six Months Ended June 30,

 
  

2026

  

2025

 
      

% of

      

% of

 
  

Revenue

  

revenue

  

Revenue

  

revenue

 

Revenue by geographic area

                

United States

 $3,925   96% $2,383   87%

Europe

  -   0%  361   13%

Rest of the world

  179   4%  -   0%

Total

 $4,104   100% $2,744   100%
                 

Revenue by type

                

Products

 $3,878   94% $2,744   100%

Rentals

  226   6%  -   0%

Total

 $4,104   100% $2,744   100%

 

Revenue from products includes related services, which represented less than 10% of product revenue for both periods. In the six months ended June 30, 2026, sales included $3.925 million, or 96%, of total revenue to U.S. customers and $0.179 million, or 4% of total revenue to Canada. In the six months ended June 30, 2025, sales included $0.316 million, or 12%, and $2.4 million, or 87%, of total revenue to Serbia and U.S, respectively. Customer concentrations are disclosed in Note 6.

 

Contract assets. As of June 30, 2026 and December 31, 2025, there were no contract assets, representing unbilled receivables where revenue was recognized in advance of customer billings.

 

Remaining Performance Obligations. Remaining Performance Obligations (“RPO”) comprise deferred revenue plus unbilled contract revenue. As of June 30, 2026 and December 31, 2025, there was no RPO.