v3.26.1
Revenue Recognition (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Revenue Recognition [Abstract]    
Schedule of Revenue from Contracts with Customers

The Company’s revenue from contracts with customers by type of contract are summarized as follows (in thousands):

 

Six Months Ended
June 30,

   

2026

 

2025

Fixed price

 

$

1,393

 

$

1,405

Cost-reimbursable

 

 

400

 

 

45

Total revenue from customers

 

$

1,793

 

$

1,450

The following table summarizes the timing of revenue recognition from contracts with customers (in thousands):

 

Six Months Ended
June 30,

   

2026

 

2025

Revenue recognized at a point in time

 

$

1,157

 

$

1,092

Revenue recognized over time

 

 

636

 

 

358

Total revenue from customers

 

$

1,793

 

$

1,450

The Company’s revenue from contracts with customers, excluding grant revenues, by type of contracts are summarized as follows (in thousands):

 

Year Ended December 31,

   

2025

 

2024

Fixed price

 

$

3,699

 

$

645

Cost-reimbursable

 

 

458

 

 

155

Total revenue from customers

 

$

4,157

 

$

800

The following table summarizes the timing of revenue recognition from contracts with customers (in thousands):

 

Year Ended December 31,

   

2025

 

2024

Revenue recognized at a point in time

 

$

2,607

 

$

431

Revenue recognized over time

 

 

1,550

 

 

369

Total revenue from customers

 

$

4,157

 

$

800

Schedule of Contract Liabilities

Contract liabilities represent the dollar value of funded orders for work which has been invoiced or paid for and has not been performed. Contract liabilities activities are summarized as follows (in thousands):

 

As of
June 30,

2026

 

As of
June 30,

2025

Balance at beginning of period

 

$

 

$

579

 

Recognition of revenue

 

 

 

 

 

Deferral of revenue

 

 

349

 

 

(59

)

Balance at end of period

 

$

349

 

$

520

 

Contract liabilities represents the dollar value of funded orders for work which has been invoiced or paid for and has not been performed. Contract liabilities activities are summarized as follows (in thousands):

 

As of December 31,

   

2025

 

2024

Balance at beginning of period

 

$

579

 

 

$

17

 

Recognition of revenue

 

 

(579

)

 

 

(17

)

Deferral of revenue

 

 

 

 

 

579

 

Balance at end of period

 

$

 

 

$

579