v3.26.1
Revenue
 12 Months Ended
Dec. 31, 2025
Revenue [Abstract]  
Revenue
Note 5. Revenue
 

The Company’s revenue is comprised of sales of LiDAR sensors, semiconductor components, NRE services and licensing of certain data and information available with the Company.
 
Disaggregation of Revenues
 

The Company disaggregates its revenue from contracts with customers by (1) geographic region based on customer’s billed to location, and (2) type of good or service and timing of transfer of goods or services to customers (point-in-time or over time), as it believes it best depicts how the nature, amount, timing, and uncertainty of its revenue and cash flows are affected by economic factors. Total revenue based on the disaggregation criteria described above, as well as revenue by segment, are as follows (in thousands):
 
   
Year Ended December 31,
  
   
2025
    
2024
    
2023
  
   
Revenue
    
% of Revenue
    
Revenue
    
% of Revenue
    
Revenue
    
% of Revenue
  
Revenue by primary geographical market:
  
North America
  
$
51,891
      
79
%
  
$
71,939
      
95
%
  
$
64,083
      
92
%
Asia Pacific
    
3,233
      
5
%
    
561
      
1
%
    
1,178
      
2
%
Europe and Middle East
    
10,890
      
16
%
    
2,895
      
4
%
    
4,518
      
6
%
Total
  
$
66,014
      
100
%
  
$
75,395
      
100
%
  
$
69,779
      
100
%
Revenue by timing of recognition:
  
Recognized at a point in time
  
$
46,035
      
70
%
  
$
62,608
      
83
%
  
$
45,049
      
65
%
Recognized over time
    
19,979
      
30
%
    
12,787
      
17
%
    
24,730
      
35
%
Total
  
$
66,014
      
100
%
  
$
75,395
      
100
%
  
$
69,779
      
100
%
Revenue by segment:
  
Autonomy Solutions
  
$
40,884
      
62
%
  
$
53,480
      
71
%
  
$
48,835
      
70
%
ATS
    
25,130
      
38
%
    
21,915
      
29
%
    
20,944
      
30
%
Total
  
$
66,014
      
100
%
  
$
75,395
      
100
%
  
$
69,779
      
100
%
 
Contract assets and liabilities
 

Changes in the Company’s contract assets and contract liabilities primarily result from the timing difference between the Company’s performance and the customer’s payment based on contractual terms. Contract assets primarily represent revenues recognized for performance obligations that have been satisfied but for which amounts have not been billed. Contract liabilities consist of the Company’s obligation to transfer goods or services to a customer for which the Company has received consideration from the customer. Customer advanced payments represent required customer payments in advance of product shipments. Customer advance payments are recognized in revenue as or when control of the performance obligation is transferred to the customer.
 

The opening and closing balances of contract assets were as follows (in thousands):
 
   
December 31,
  
   
2025
    
2024
  
Contract assets, current
  
$
3,535
    
$
16,199
  
Contract assets, non-current
    
—
      
—
  
Ending balance
  
$
3,535
    
$
16,199
  
 

The significant changes in contract assets balances consisted of the following (in thousands):
 
   
December 31,
  
   
2025
    
2024
  
Beginning balance
  
$
16,199
    
$
16,603
  
Amounts billed that were included in the contract assets beginning balance
    
(14,415
)
    
(3,737
)
Contract assets from acquisition of EM4 (See Note 4)
    
—
      
1,644
  
Revenue recognized for performance obligations that have been satisfied but for which amounts have not been billed
    
1,751
      
1,689
  
Ending balance
  
$
3,535
    
$
16,199
  
 

The opening and closing balances of contract liabilities were as follows (in thousands):
 
   
December 31,
  
   
2025
    
2024
  
Contract liabilities, current
  
$
1,817
    
$
1,918
  
Contract liabilities, non-current
    
—
      
—
  
Ending balance
  
$
1,817
    
$
1,918
  
 

The significant changes in contract liabilities balances consisted of the following (in thousands):
 
   
December 31,
  
   
2025
    
2024
  
Beginning balance
  
$
1,918
    
$
3,932
  
Revenue recognized that was included in the contract liabilities beginning balance
    
(1,827
)
    
(2,980
)
Increase due to cash received and not recognized as revenue and billings in excess of revenue recognized during the period
    
1,726
      
966
  
Ending balance
  
$
1,817
    
$
1,918
  

Remaining Performance Obligations
 

Revenue allocated to remaining performance obligations was $1.8 million as of December 31, 2025 and includes amounts within contract liabilities. Due to the Chapter 11 Cases, the timing and amount of revenue recognition are subject to significant uncertainty.