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Revenues, Trade Accounts Receivable, Contract Assets and Contract Liabilities (Tables)

3 Months Ended

Mar. 31, 2023

Operating revenues:

Schedule of Disaggregation by Revenue

The Company disaggregates its sales with customers by the revenue recognition method for its only segment, as the Company believes these factors affect the nature, amount, timing and uncertainty of the Company’s revenue and cash flows.

 Schedule of Disaggregation by Revenue

		2023				2022
		Three months ended
		March 31,
		2023				2022
Fixed price contracts		$	29,093			$	18,851
Product sales			173,546				115,697
Total Revenues		$	202,639			$	134,548

Schedule of Geographic Information

The following table presents geographical information about revenues:

 Schedule of Geographic Information

		Three months ended
		March 31,
		2023				2022
Colombia		$	5,740			$	4,025
United States			194,839				126,984
Panama			270				799
Other			1,790				2,740
Total Revenues		$	202,639			$	134,548

Schedule of Trade Accounts Receivable

Trade accounts receivable consist of the following:

 Schedule of Trade Accounts Receivable

			2023				2022
		March 31, 2023				December 31, 2022
Trade accounts receivable			167,818				158,974
Less: Allowance for credit losses			(681	)			(577	)
Total		$	167,137			$	158,397

Schedule of Changes in Allowance for Doubtful Accounts Receivable

The changes in the allowance for credit losses for the three months ended March 31, 2023, are:

Schedule of Changes in Allowance for Doubtful Accounts Receivable 

		Three months ended March 31, 2023
Balance at beginning of period		$	577
Provisions for credit losses			914
Deductions and write-offs, net of foreign currency adjustment			(810	)
Balance at end of period		$	681

Schedule of Contract Assets and Liabilities

The table below presents the components of net contract assets (liabilities):

 Schedule of Contract Assets and Liabilities

		March 31, 2023				December 31, 2022
Contract assets — current		$	18,982			$	12,610
Contract assets — non-current			4,415				8,875
Contract liabilities — current			(58,591	)			(49,601	)
Contract liabilities — non-current			(11	)			(11	)
Net contract assets		$	(35,205	)		$	(28,127	)

The components of contract assets are presented in the table below:

		March 31, 2023				December 31, 2022
Unbilled contract receivables, gross		$	6,448			$	5,738
Retainage			16,949				15,747
Total contract assets			23,397				21,485
Less: current portion			18,982				12,610
Contract Assets – non-current		$	4,415			$	8,875

The components of contract liabilities are presented in the table below:

		March 31, 2023				December 31, 2022
Billings in excess of costs		$	18,292				14,724
Advances from customers on uncompleted contracts			40,310				34,888
Total contract liabilities			58,602				49,612
Less: current portion			58,591				49,601
Contract liabilities – non-current		$	11				11

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