REVENUE

3 Months Ended

Mar. 31, 2024

Revenue from Contract with Customer [Abstract]

REVENUE

2. REVENUE

Disaggregation of Revenue

The following table presents revenue disaggregated by type:

	Three Months Ended March 31,
	2024		2023
Tool revenue:
Tool and product sales	$	731,320	$	1,537,380
Tool rental		697,066		806,153
Other related revenue		1,552,812		1,910,676
Total tool revenue		2,981,198		4,254,209
Contract services		1,965,018		2,027,005
Total revenue	$	4,946,216	$	6,281,214

Contract Balances

Under our sales contracts, we invoice customers after our performance obligations have been satisfied, at which point payment is unconditional. Accordingly, our contracts do not give rise to contract assets or liabilities under ASC 606.

Contract Costs

We did not incur any material costs of obtaining contracts.