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Revenue from Contracts with Customers | 6 Months Ended
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Jun. 30, 2025
Revenue from Contracts with Customers |
Revenue from Contracts with Customers | ​ Note 4. Revenue from Contracts with Customers Disaggregated revenue Revenue disaggregated by reportable segment is presented in Note 19. Segment Information. Contract balances Contract assets relate to uncompleted Engineering contracts. As of June 30, 2025 and December 31, 2024, contract assets were $6.5 million and $6.5 million, respectively. Contract liabilities primarily relate to uncompleted Engineering contracts. As of June 30, 2025 and December 31, 2024, contract liabilities and deferred revenue were $22.7 million and $26.1 million, respectively. In connection with the Rhodium Settlement described in Note 3. Acquisitions, the legacy hosting contract with Rhodium was terminated, thereby eliminating the Company’s future obligations under the contract. As a result, approximately $14.9 million of previously recognized deferred revenue was relieved and is included in Loss on contract settlement on the Condensed Consolidated Statements of Operations. During the three months ended June 30, 2025 and 2024, $2.4 million and $2.2 million, respectively, and during the six months ended June 30, 2025 and 2024, $6.9 million and $3.8 million, respectively, of the beginning balance of contract liabilities and deferred revenue, in aggregate, was recognized as revenue. During the three months ended June 30, 2025 and 2024, $0.1 million and $0.8 million, respectively, and during the six months ended June 30, 2025 and 2024, ($0.4) million and $0.9 million, respectively, were recognized as revenue as a result of satisfying performance obligations in previous periods. As of June 30, 2025 and December 31, 2024, retainage of $0.9 million and $1.0 million, respectively, were included in Accounts receivable, net on the Condensed Consolidated Balance Sheets. Remaining performance obligation The following table presents the estimated future recognition of the Company’s remaining performance obligations, which represent the transaction price of current contracts for work to be performed. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Remainder of | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2025 |  | 2026 |  | 2027 |  | 2028 | ​ | Total
Engineering |  | $ | 68,446 |  | $ | 44,173 |  | $ | 6,766 |  | $ | — | ​ | $ | 119,385
Other | ​ | ​ | 49 | ​ | ​ | 97 | ​ | ​ | 97 | ​ | ​ | 97 | ​ | ​ | 340
Total remaining performance obligations | ​ | $ | 68,495 | ​ | $ | 44,270 | ​ | $ | 6,863 | ​ | $ | 97 | ​ | $ | 119,725
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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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