Revenue

12 Months Ended

Dec. 31, 2024

Revenue from Contract with Customer [Abstract]

Revenue

Note 2. Revenue

Disaggregation of Revenues

The Company disaggregates its revenue from contracts with customers by geographic region based on the primary billing address of the customer and timing of transfer of goods or services to customers (point-in-time or over time), as it believes it best depicts how the nature, amount, timing and uncertainty of its revenue and cash flows are affected by economic factors. Total revenue for the years ended December 31, 2024, 2023 and 2022, based on the disaggregation criteria described above are as follows (in thousands):

	Year Ended December 31,
	2024					2023					2022
	Revenue		% of Revenue			Revenue		% of Revenue			Revenue		% of Revenue
Revenue by primary geographical    market:
North America	$	7,814		86	%	$	2,815		65	%	$	2,965		71	%
Asia		603		7	%		728		17	%		1,085		26	%
Europe		475		5	%		769		18	%		142		3	%
Oceania		173		2	%		—		—			—		—
Total	$	9,065		100	%	$	4,312		100	%	$	4,192		100	%
Revenue by timing of recognition:
Recognized at a point in time	$	5,681		63	%	$	3,877		90	%	$	2,735		65	%
Recognized over time		3,384		37	%		435		10	%		1,457		35	%
Total	$	9,065		100	%	$	4,312		100	%	$	4,192		100	%

Point in time revenue was primarily related to product revenue and over time revenue was from non-recurring engineering services.

For the year ended December 31, 2024 two customers accounted for 56% and 16% of the Company's revenue. For the year ended December 31 2023, two customers accounted for 23% and 22% of the Company's revenue. For the year ended December 31, 2022, one customer accounted for 81% of the Company’s revenue.

Contract Assets and Contract Liabilities

As of December 31, 2024 and 2023, the Company had contract assets of $0.1 million each, respectively, recognized in other current assets. As of December 31, 2024 and December 31, 2023, the Company had $4.0 million $2.1 million, respectively, recognized in other current liabilities.

Remaining Performance Obligations

As of December 31, 2024, the total amount of the transaction price allocated to unsatisfied performance obligations for contracts with an original duration greater than one year was $47.0 million, of which approximately 20% is expected to be recognized as revenue over the next 12 months, and the remainder thereafter. Total revenue estimates are based on negotiated contract prices and demand quantities, and could be influenced by risks and uncertainties, including manufacturing or supply chain constraints, modifications to customer agreements, and regulatory changes, among other factors. Accordingly, the actual revenue recognized for the remaining performance obligation in future periods may significantly fluctuate from these estimates.