REVENUE RECOGNITION (Tables)

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

SCHEDULE OF DISAGGREGATION OF REVENUE

The following table represents a disaggregation of revenue for the three and nine months ended September 30, 2024, and 2023 (in thousands):

	Three months ended September 30, 2024
	Over time		Point in time		Total
Energy	$	-	$	448	$	448
Aerospace		3,814		969		4,783
Industrial		1,522		368		1,890
Research		927		146		1,073
Total	$	6,263	$	1,931	$	8,194

	Three months ended September 30, 2023
	Over time		Point in time		Total
Energy	$	970	$	136	$	1,106
Aerospace		2,511		371		2,882
Industrial		695		739		1,434
Research		504		308		812
Total	$	4,680	$	1,554	$	6,234

CVD EQUIPMENT CORPORATION AND SUBSIDIARIES

Notes to Condensed Consolidated Financial Statements

(Unaudited)

NOTE 4: REVENUE RECOGNITION (continued)

	Nine months ended September 30, 2024
	Over time		Point in time		Total
Energy	$	216	$	500	$	716
Aerospace		8,285		1,488		9,773
Industrial		4,324		1,142		5,466
Research		2,963		544		3,507
Total	$	15,788	$	3,674	$	19,462

	Nine months ended September 30, 2023
	Over time		Point in time		Total
Energy	$	4,246	$	189	$	4,435
Aerospace		2,774		1,226		4,000
Industrial		5,450		1,866		7,316
Research		2,960		1,287		4,247
Total	$	15,430	$	4,568	$	19,998

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 September 30, 2024 (in thousands):

Costs incurred on contracts in progress	$	13,540
Estimated earnings		6,672
		20,212
Billings to date		(21,693	)
		(1,481	)
Deferred revenue related to non-system contracts		(459	)
	$	(1,940	)
Included in accompanying condensed consolidated balance sheet as of September 30, 2024 under the following captions (in thousands):
Contract assets	$	1,348
Contract liabilities	$	3,288