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Revenue Disaggregation
12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue Disaggregation Note 4. Revenue Disaggregation

The Company’s disaggregated revenues are comprised of the following (in thousands):

 

Year Ended

 

 

Category

 

December 31, 2023

 

 

December 31, 2022

 

 

Primary Geographical Markets

 

 

 

 

 

 

 

North America

 

$

11,960

 

 

$

7,317

 

 

Europe

 

 

9,250

 

 

 

9,907

 

 

Middle East

 

 

15,550

 

 

 

12,520

 

 

Rest of the World

 

 

1,066

 

 

 

511

 

 

Total revenue

 

$

37,826

 

 

$

30,255

 

 

 

 

 

 

 

 

 

 

Major Goods

 

 

 

 

 

 

 

RF/microwave filters

 

$

9,196

 

 

$

5,070

 

 

Detector logarithmic video amplifiers

 

 

1,703

 

 

 

1,060

 

 

Power supply units and systems

 

 

8,975

 

 

 

11,605

 

 

Healthcare diagnostic systems

 

 

3,956

 

 

 

4,073

 

 

Defense systems

 

 

13,996

 

 

 

8,447

 

 

Total revenue

 

$

37,826

 

 

$

30,255

 

 

 

 

 

 

 

 

 

 

Timing of Revenue Recognition

 

 

 

 

 

 

 

Goods transferred at a point in time

 

$

20,151

 

 

$

18,430

 

 

Services transferred over time

 

 

17,675

 

 

 

11,825

 

 

Revenue from contracts with customers

 

$

37,826

 

 

$

30,255

 

 

 

Deferred revenue

The Company has received advanced payments of $1.6 million as of December 31, 2023 and $1.0 million as of December 31, 2022 for products that are to be delivered or performed in the future. The advanced payments are primarily for material purchases of products to be delivered during to following 12-month period (In thousands):

 

Total

 

 

Deferred revenue

 

Balance at January 1, 2022

 

$

401

 

Addition during the year

 

 

12,452

 

Recognized during the year

 

 

(11,825

)

Balance at December 31, 2022

 

$

1,028

 

Addition during the year

 

 

18,255

 

Recognized during the year

 

 

(17,675

)

Balance at December 31, 2023

 

$

1,608

 

 

Backlog - Other performance obligations

The Company has a $31.2 million backlog as of December 31, 2023 of which $23.4 is expected to be recognized as revenue in 2024.