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Revenue (Tables)
12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following table presents total revenues by geographic area based on the location products were shipped to and services provided (in thousands):
Year Ended December 31,
20242023
Americas$58,429 $45,744 
Asia and Pacific20,158 12,929 
Europe, Middle East and Africa32,513 24,606 
Total$111,101 $83,279 
Schedules of Concentration of Risk
Accounts receivable from the Company’s major customers representing 10% or more of total accounts receivable and unbilled receivable was as follows:
December 31,
20242023
Customer A39 %42 %
Customer B— %12 %
Purchases from the Company’s suppliers and vendors representing 10% or more of total purchases were as follows:
Year Ended December 31,
20242023
Supplier A11 %11 %
Supplier B15 %17 %
Customers that accounted for more than 10% of revenue during the years ended December 31, 2024 and 2023 were as follows:
Year Ended December 31,
20242023
Customer E12 %— %
Countries that accounted for more than 10% of revenue was as follows:
Year Ended December 31,
20242023
United States49 %53 %
Sweden10 %— %
Schedule of Remaining Performance Obligations
Contract assets and liabilities are presented net at the individual contract level in the consolidated balance sheet and are classified as current or long-term based on the nature of the underlying contractual rights and obligations.
December 31,
2024
December 31,
2023
Contract liabilities, current
Deferred revenues from multi-year licensing contracts$10,922 $4,723 
Other contract liabilities23,429 8,162 
Contract liabilities, non-current portion
Deferred revenues from multi-year licensing contracts$627 $3,997 
Other contract liabilities1,911 970 
Total contract liabilities$36,889 $17,852 
The following table provides information about contract liabilities (remaining performance obligations) and the significant changes in the balances during the years ended December 31, 2024 and 2023 (in thousands).
Contract Liabilities
Ending balance as of December 31, 2022$744 
Net revenue deferred in the period9,126 
Revenue recognized that was included in the contract liability balance at the beginning of the period(402)
Contract liabilities acquired in the Velodyne Merger8,384 
Ending balance as of December 31, 2023$17,852 
Net revenue deferred in the period21,031 
Revenue recognized that was included in the contract liability balance at the beginning of the period(1,994)
Ending balance as of December 31, 2024$36,889