Revenue

6 Months Ended

Jun. 30, 2023

Revenue [Abstract]

REVENUE

NOTE 5 REVENUE

Revenue by type consisted of the following for the three and six months ended June 30, 2023 and 2022:

	For the Three Months Ended				For the Six Months Ended
	June 30,				June 30,
(Amounts in thousands)	2023		2022		2023		2022
Telecom hardware	$	334	$	1,823	$	541	$	3,112
Drones		3,153		-		3,396		353
Support & maintenance		9		43		40		83
Consulting		-		160		-		217
Optic repairs		-		62		-		376
Software		-		-		2		-
Total revenue	$	3,496	$	2,088	$	3,979	$	4,141

The following table is a summary of the Company’s timing of revenue recognition for the three and six months ended June 30, 2023 and 2022:

	For the Three Months Ended				For the Six Months Ended
	June 30,				June 30,
(Amounts in thousands)	2023		2022		2023		2022
Timing of revenue recognition:
Services and products transferred at a point in time	$	3,468	$	2,037	$	3,919	$	3,992
Services and products transferred over time		28		51		60		149
Total revenue	$	3,496	$	2,088	$	3,979	$	4,141

The Company disaggregates revenue by source and geographic destination to depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.

Revenue by source consisted of the following for the three and six months ended June 30, 2023 and 2022:

	For the Three Months Ended				For the Six Months Ended
	June 30,				June 30,
(Amounts in thousands)	2023		2022		2023		2022
Revenue by products and services:
Products	$	3,468	$	2,037	$	3,919	$	3,992
Services		28		51		60		149
Total revenue	$	3,496	$	2,088	$	3,979	$	4,141

Revenue by geographic destination consisted of the following for the three and six months ended June 30, 2023 and 2022:

	For the Three Months Ended				For the Six Months Ended
	June 30,				June 30,
(Amounts in thousands)	2023		2022		2023		2022
Revenue by geography:
North America	$	3,496	$	1,944	$	3,978	$	3,493
International		-		144		1		648
Total revenue	$	3,496	$	2,088	$	3,979	$	4,141

Contract Balances

The Company records contract assets when it has a right to consideration and records accounts receivable when it has an unconditional right to consideration. Contract liabilities consist of cash payments received (or unconditional rights to receive cash) in advance of fulfilling performance obligations. As of June 30, 2023 and December 31, 2022, the Company did not have a material contract assets balance.

The following table is a summary of the Company’s opening and closing balances of contract liabilities related to contracts with customers.

(Amounts in thousands)	Total
Balance at December 31, 2022	$	3,384
New invoices not yet earned		9
Revenue earned		(1,870	)
Balance at June 30, 2023	$	1,523

Of the $3.4 million contract balance as of December 31, 2022, $1.9 million was recognized as revenue during the six months ended June 30, 2023, resulting in the remaining contract balance of $1.5 million, which will be recognized as revenue when the Company meets the performance obligation, the timing of which is uncertain at this time.