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The following table summarizes disaggregated revenue information by nature of revenue and timing of revenue recognition:

⁽¹⁾Product revenue consists of sales of ConnectM-branded heat pump products to customers, including under specific distribution agreements such as with Greentech Renewables, for which revenue is recognized at a point in time when control transfers to the customer, generally upon delivery.

⁽²⁾Service revenue consists of (i) installation and maintenance services for solar energy systems and HVAC solutions across customers, (ii) logistics and delivery services provided through DeliveryCircle’s proprietary Decios platform, and (iii) managed solutions services including human resources and payroll administration, procurement and vendor management, marketing and lead generation, and business implementation services. Service revenue is generally recognized over time as the customer simultaneously receives and consumes the benefits of the Company’s performance.