| Schedule of Disaggregated Revenues |
The following table presents our disaggregated revenues by type, timing and geographical region.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30, |
|
|
Nine Months Ended
September 30, |
|
(dollars in thousands) |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Type of Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
Product revenue |
|
$ |
87,773 |
|
|
$ |
5,444 |
|
|
$ |
169,586 |
|
|
$ |
12,274 |
|
Service revenue |
|
|
34,170 |
|
|
|
4,591 |
|
|
|
67,096 |
|
|
|
7,896 |
|
Development revenue |
|
|
45,546 |
|
|
|
63 |
|
|
|
64,701 |
|
|
|
450 |
|
Total revenues, net |
|
$ |
167,489 |
|
|
$ |
10,098 |
|
|
$ |
301,383 |
|
|
$ |
20,620 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Timing of Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
Revenue recognized point in time |
|
$ |
71,073 |
|
|
$ |
9,446 |
|
|
$ |
153,940 |
|
|
$ |
19,451 |
|
Revenue recognized over time |
|
|
96,416 |
|
|
|
652 |
|
|
|
147,443 |
|
|
|
1,169 |
|
Total revenues, net |
|
$ |
167,489 |
|
|
$ |
10,098 |
|
|
$ |
301,383 |
|
|
$ |
20,620 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Geographical Region |
|
|
|
|
|
|
|
|
|
|
|
|
United States |
|
$ |
91,233 |
|
|
$ |
173 |
|
|
$ |
109,686 |
|
|
$ |
528 |
|
Europe |
|
|
36,826 |
|
|
|
3 |
|
|
|
68,281 |
|
|
|
3,114 |
|
Israel |
|
|
27,924 |
|
|
|
9,358 |
|
|
|
86,980 |
|
|
|
13,105 |
|
Asia - Other |
|
|
8,020 |
|
|
|
564 |
|
|
|
25,162 |
|
|
|
3,873 |
|
Africa |
|
|
2,625 |
|
|
|
- |
|
|
|
7,577 |
|
|
|
- |
|
North America - Other |
|
|
403 |
|
|
|
- |
|
|
|
2,721 |
|
|
|
- |
|
Other |
|
|
458 |
|
|
|
- |
|
|
|
976 |
|
|
|
- |
|
Total revenues, net |
|
$ |
167,489 |
|
|
$ |
10,098 |
|
|
$ |
301,383 |
|
|
$ |
20,620 |
|
|
| Schedule of Contract Assets and Liabilities |
The table below details the activity in our contract assets during the nine months ended September 30, 2026 and the year ended December 31, 2025.
|
|
|
|
|
|
|
|
|
(dollars in thousands) |
|
Nine Months Ended
September 30,
2026 |
|
|
Year Ended
December 31,
2025 |
|
Balance, beginning of period |
|
$ |
3,171 |
|
|
$ |
206 |
|
Contract assets acquired in business combination |
|
|
22,821 |
|
|
|
- |
|
Contract assets recognized |
|
|
73,894 |
|
|
|
8,476 |
|
Reclassification to accounts receivable, net |
|
|
(27,216 |
) |
|
|
(5,511 |
) |
Balance, end of period |
|
$ |
72,670 |
|
|
$ |
3,171 |
|
The table below details the activity in our contract liabilities during the nine months ended September 30, 2026 and the year ended December 31, 2025.
|
|
|
|
|
|
|
|
|
(dollars in thousands) |
|
Nine Months Ended
September 30,
2026 |
|
|
Year Ended
December 31,
2025 |
|
Balance, beginning of period |
|
$ |
8,501 |
|
|
$ |
329 |
|
Contract liabilities acquired in business combinations |
|
|
34,292 |
|
|
|
7,374 |
|
Effect of deconsolidation of subsidiary |
|
|
(337 |
) |
|
|
- |
|
Additions |
|
|
29,565 |
|
|
|
9,542 |
|
Recognized as revenue |
|
|
(30,880 |
) |
|
|
(8,744 |
) |
Balance, end of period |
|
$ |
41,141 |
|
|
$ |
8,501 |
|
|