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REVENUE RECOGNITION (Tables)
 3 Months Ended
Mar. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue

The following table represents a disaggregation of revenue for the three months ended March 31, 2024 and 2023 (in thousands):

 

   Over time   Point in time   Total 
   Three months ended March 31, 2024 
             
   Over time   Point in time   Total 
Energy  $-   $18   $18 
Aerospace   1,802    332    2,134 
Industrial   1,259    483    1,742 
Research   861    167    1,028 
Total  $3,922   $1,000   $4,922 

 

   Over time   Point in time   Total 
   Three months ended March 31, 2023 
             
   Over time   Point in time   Total 
Energy  $2,516   $14   $2,530 
Aerospace   264    251    515 
Industrial   3,670    213    3,883 
Research   1,272    495    1,767 
Total  $7,722   $973   $8,695 
Schedule of Cost and Estimated Earnings in Excess of Billings

Contract assets and contract liabilities on input method type contracts in progress are summarized as follows as of March 31, 2024 (in thousands):

 

      
Costs incurred on contracts in progress  $10,024 
Estimated earnings   4,582 
Costs and estimated earnings on uncompleted contracts  $14,606 
Billings to date   (17,649)
Net cost in excess of billings   (3,043)

Deferred revenue related to non-system contracts and a system contract to be recognized at point in time

   (298)
Contract liability in excess of contract assets  $(3,341)

Included in accompanying condensed consolidated balance sheets under the following captions (in thousands):

     
Contract assets  $2,689 
Contract liabilities  $6,030