For the three months ended September 30, 2024 and 2023, we generated $3,185,778 and $3,041,007 of revenues from 33 and 18 customers, respectively, representing an increase of $144,771, or 5%. For the nine months ended September 30, 2024 and 2023, we generated $7,366,887 and $7,496,315 of revenues from 62 and 37 customers, respectively, representing a decrease of $129,428, or 2%.
Revenue from product sales during the three months ended September 30, 2024, decreased by $1,131,269 or 60% compared to the three months ended September 30, 2023. Product sales include the sales of our component product, internal short circuit (“ISC”) battery cells and devices, and safe cases. We had 20 product sales customers in the third quarter of 2024, compared with 13 in the third quarter of 2023. The decline in product revenue can be attributed to several expected third quarter 2024 orders, which management now expects to receive in a later period. We can provide no assurance as to when we will receive the expected orders.
Revenue from product sales during the nine months ended September 30, 2024, decreased by $2,968,035 or 54% compared to the nine months ended September 30, 2023. We had 47 product sales customers in the nine months of 2024, compared with 29 in the nine months of 2023. The decline in product revenue can be attributed to several expected third quarter 2024 orders, which management now expects to receive in a later period. We can provide no assurance as to when we will receive the expected orders.
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