| Schedule of Disaggregated Revenues |
The following table presents our disaggregated
revenues by type, timing and geographical region.
| |
|
Three Months Ended
March 31, |
|
| (dollars in thousands) |
|
2026 |
|
|
2025 |
|
| Type of Revenue |
|
|
|
|
|
|
| Product revenue |
|
$ |
38,368 |
|
|
$ |
3,224 |
|
| Service revenue |
|
|
9,323 |
|
|
|
809 |
|
| Development revenue |
|
|
2,431 |
|
|
|
215 |
|
| Total revenues |
|
$ |
50,122 |
|
|
$ |
4,248 |
|
| |
|
|
|
|
|
|
|
|
| Timing of Revenue |
|
|
|
|
|
|
|
|
| Revenue recognized point in time |
|
$ |
40,562 |
|
|
$ |
3,984 |
|
| Revenue recognized over time |
|
|
9,560 |
|
|
|
264 |
|
| Total revenue |
|
$ |
50,122 |
|
|
$ |
4,248 |
|
| |
|
|
|
|
|
|
|
|
| Geographical region |
|
|
|
|
|
|
|
|
| Israel |
|
$ |
21,598 |
|
|
$ |
2,488 |
|
| Europe |
|
|
12,071 |
|
|
|
- |
|
| Asia - Other |
|
|
12,000 |
|
|
|
- |
|
| North America |
|
|
3,313 |
|
|
|
216 |
|
| United Arab Emirates |
|
|
305 |
|
|
|
1,533 |
|
| Other Countries |
|
|
835 |
|
|
|
11 |
|
| Total revenues |
|
$ |
50,122 |
|
|
$ |
4,248 |
|
|
| Schedule of Contract Assets and Liabilities |
The table below
details the activity in our contract assets during the three months ended March 31, 2026 and the year ended December 31, 2025.
| (dollars in thousands) |
|
Three Months
Ended
March 31,
2026 |
|
|
Year Ended
December 31,
2025 |
|
| Balance, beginning of period |
|
$ |
3,171 |
|
|
$ |
206 |
|
| Contract assets recognized |
|
|
15,488 |
|
|
|
8,476 |
|
| Reclassification to accounts receivable, net |
|
|
(2,676 |
) |
|
|
(5,511 |
) |
| Balance, end of period |
|
$ |
15,983 |
|
|
$ |
3,171 |
|
The table below details the
activity in our contract liabilities during the three months ended March 31, 2026, and the year ended December 31, 2025.
| (dollars in thousands) |
|
Three Months
Ended
March 31,
2026 |
|
|
Year Ended
December 31,
2025 |
|
| Balance, beginning of period |
|
$ |
8,501 |
|
|
$ |
329 |
|
| Contract liabilities acquired in business combinations |
|
|
14,253 |
|
|
|
7,374 |
|
| Effect of deconsolidation of subsidiary |
|
|
(337 |
) |
|
|
- |
|
| Additions |
|
|
4,892 |
|
|
|
9,542 |
|
| Recognized as revenue |
|
|
(7,477 |
) |
|
|
(8,744 |
) |
| Balance, end of period |
|
$ |
19,832 |
|
|
$ |
8,501 |
|
|