Revenue (Tables) |
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Dec. 31, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Disaggregation of Revenue |
The following table disaggregates revenue by type for the years ended December 31, 2024 and 2023:
The approximate revenue based on geographic location of end customers was as follows for the years ended December 31, 2024 and 2023:
(1) For the year ended December 31, 2024, Middle East revenue included $12.3 million of revenue from Country A; the amount of revenue from Country A for the year ended December 31, 2023 was not individually significant to the Company. The remaining Middle East countries were not individually significant to the Company.
(2) For the years ended December 31, 2024 and 2023, Asia Pacific revenue included $16.5 million and $13.3 million of revenue, respectively, from Country B. Asia Pacific revenue included $11.5 million of revenue from Country C for the year ended December 31, 2023; the amount of revenue from Country C for the year ended December 31, 2024 was not individually significant to the Company. The remaining Asia Pacific countries were not individually significant to the Company.
Backlog
Backlog represents the future sales the Company expects to recognize on firm orders it receives and is equivalent to the Company’s remaining performance obligations at the end of each period. It comprises both funded backlog (firm orders for which funding is authorized and appropriated) and unfunded backlog. The Company's backlog excludes unexercised contract options. As of December 31, 2024, the Company had $261.7 million of backlog, which represents the transaction price of executed contracts less inception to date
revenue recognized. The Company expects to recognize revenue relating to its backlog, of which a portion is recorded in deferred revenue in the consolidated balance sheets, of $75.9 million, $45.2 million, and $140.6 million in fiscal year 2025, fiscal year 2026, and thereafter, respectively.
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| Schedules of Concentration of Risk, by Risk Factor |
Revenue from categories of end customers for the years ended December 31, 2024 and 2023 was as follows:
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