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REVENUE (Tables)
 9 Months Ended
Sep. 30, 2024
Revenue from Contract with Customer [Abstract]  
SCHEDULE OF NET SALES BY MARKET

The following tables summarize our net sales by market for the three months ended September 30, 2024 and 2023, respectively:

 

 

                     
   Three Months Ended September 30, 2024 
   Product/ Service Transferred
Over Time		   Product Transferred at Point in Time   Noncash Consideration1   Total Net Sales by Market 
Medical  $12,711   $4,435   $901   $18,047 
Industrial   5,505    2,667    262    8,434 
Aerospace and defense   4,394    494    38    4,926 
Total net sales  $22,610   $7,596   $1,201   $31,407 

 

                     
   Three Months Ended September 30, 2023 
   Product/ Service Transferred
Over Time		   Product Transferred at Point in Time   Noncash Consideration1   Total Net Sales by Market 
Medical  $12,029   $5,185   $621   $17,835 
Industrial   8,195    1,999    241    10,435 
Aerospace and defense   4,609    450    40    5,099 
Total net sales  $24,833   $7,634   $902   $33,369 

 

1 Noncash consideration represents material provided by the customer used in the build of the product.

 

 

The following tables summarize our net sales by market for the nine months ended September 30, 2024 and 2023, respectively:

 

                     
   Nine Months Ended September 30, 2024 
   Product/ Service Transferred
Over Time		   Product Transferred at Point in Time   Noncash Consideration1   Total Net Sales by Market 
Medical  $37,469   $14,112   $2,410   $53,991 
Industrial   18,847    7,682    1,114    27,643 
Aerospace and defense   16,494    1,231    154    17,879 
Total net sales  $72,810   $23,025   $3,678   $99,513 

 

                     
   Nine Months Ended September 30, 2023 
   Product/ Service Transferred
Over Time		   Product Transferred at Point in Time   Noncash Consideration1   Total Net Sales by Market 
Medical  $42,324   $15,564   $1,926   $59,814 
Industrial   21,378    6,532    1,056    28,966 
Aerospace and defense   12,523    1,674    301    14,498 
Total net sales  $76,225   $23,770   $3,283   $103,278 

 

1 Noncash consideration represents material provided by the customer used in the build of the product.
SCHEDULE OF CONTRACT ASSETS

Contract assets, recorded as such in the Condensed Consolidated Balance Sheet, consist of unbilled amounts related to revenue recognized over time. Significant changes in the contract assets balance during the nine months ended September 30, 2024 were as follows:

 

SCHEDULE OF CONTRACT ASSETS

Balances as of January 1, 2024  $14,481 
Increase (decrease) attributed to:     
Amounts transferred over time to contract assets   72,810 
Allowance for current expected credit losses   (15)
Amounts invoiced during the period   (72,218)
Balance outstanding as of September 30, 2024  $15,058