| The following tables present the Company’s revenue disaggregated by contract type and revenue recognition method: |
The
following tables present the Company’s revenue disaggregated by contract type and revenue recognition method:
| | |
Three
months ended
September 30, | | |
Nine
months ended
September 30, | |
| | |
2025 | | |
2024 | | |
2025 | | |
2024 | |
| Government subcontracts | |
$ | 15,522,738 | | |
$ | 16,986,106 | | |
$ | 39,115,821 | | |
$ | 48,951,748 | |
| Prime government contracts | |
| 2,560,673 | | |
| 1,673,483 | | |
| 6,689,643 | | |
| 7,056,711 | |
| Commercial contracts | |
| 1,185,691 | | |
| 760,290 | | |
| 4,043,354 | | |
| 3,302,897 | |
| | |
$ | 19,269,102 | | |
$ | 19,419,879 | | |
$ | 49,848,818 | | |
$ | 59,311,356 | |
| | |
Three
months ended
September 30, | | |
Nine
months ended
September 30, | |
| | |
2025 | | |
2024 | | |
2025 | | |
2024 | |
| Revenue recognized using
over time revenue recognition model | |
$ | 19,087,180 | | |
$ | 19,092,000 | | |
$ | 49,412,696 | | |
$ | 58,558,552 | |
| Revenue recognized using point in time
revenue recognition model | |
| 181,922 | | |
| 327,879 | | |
| 436,122 | | |
| 752,804 | |
| | |
$ | 19,269,102 | | |
$ | 19,419,879 | | |
$ | 49,848,818 | | |
$ | 59,311,356 | |
|
| Net EAC adjustments had the following impact on our gross profit during the three and nine months ended September 30, 2025 and 2024: |
Net
EAC adjustments had the following impact on our gross profit during the three and nine months ended September 30, 2025 and 2024:
| | |
Three
months ended
September 30, | | |
Nine
months ended
September 30, | |
| | |
2025 | | |
2024 | | |
2025 | | |
2024 | |
| Net
Adjustment | |
$ | (1,014,387 | ) | |
$ | (865,493 | ) | |
$ | (8,109,975 | ) | |
$ | (2,223,671 | ) |
|