| Schedule of Disaggregation of Revenue |
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
|
%
|
|
| Schedule of Opening and Closing Balances of Contract Liabilities and Significant Changes in Contract Liabilities |
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
|
|
|