REVENUE

3 Months Ended

Mar. 31, 2025

REVENUE

REVENUE

3. REVENUE

Disaggregation of Revenue

The Company earns revenue through the sale of products and services. Product and service revenue are the disaggregation of revenue primarily used by management, as this disaggregation allows for the evaluation of market trends and certain product lines and services vary in renewing versus non-renewing nature.

The following table disaggregates revenue by recognition method for the three months ended March 31, 2025 and 2024 (in thousands):

	Three Months Ended March 31,
	2025		2024
Point in time	$	6,368	$	7,370
Over time		391		471
Total	$	6,759	$	7,841

The following table disaggregates revenue by type of products and services for the three months ended March 31, 2025 and 2024 (in thousands):

	Three Months Ended March 31,
	2025		2024
Hardware	$	3,829	$	5,195
Software		1,952		1,961
Services		978		685
Total	$	6,759	$	7,841

The following table disaggregates revenue by geographic area for the three months ended March 31, 2025 and 2024 (in thousands):

	Three Months Ended March 31,
	2025		2024
United States	$	5,799	$	6,669
International		960		1,172
Total	$	6,759	$	7,841

China made up $1,000 and $0.3 million of international sales for the three months ended March 31, 2025 and 2024, respectively.

The amount of deferred revenue as of March 31, 2025 and December 31, 2024 reflects the revenue expected to be recognized in future periods related to remaining performance obligations as the Company collects payment in advance of satisfaction of performance obligations.

As of March 31, 2025 and December 31, 2024, the Company has $3.2 million and $3.6 million in deferred revenue. As of March 31, 2025 approximately $2.9 million of the balance is expected to be earned within the next 12 months, with $0.3 million to be earned within the next 13 to 60 months.

As of December 31, 2024 approximately $3.3 million of the balance was expected to be earned within the next 12 months, with $0.2 million to be earned within the next 13 to 24 months and $0.1 million to be earned within the next 25 to 60 months.

As of March 31, 2025 and December 31, 2024, the Company had no contract assets.