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

6 Months Ended

Jun. 30, 2023

Operating revenues:

Schedule of Disaggregation by Revenue

The Company disaggregates its sales with customers by 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				2023				2022
		Three months ended								Six months ended
		June 30,								June 30,
		2023				2022				2023				2022
Fixed price contracts		$	32,330			$	22,525			$	61,423			$	41,376
Product sales			192,950				146,599				366,496				262,296
Total Revenues		$	225,280			$	169,124			$	427,919			$	303,672

Schedule of Geographic Information

The following table presents geographical information about revenues.

Schedule of Geographic Information 

		2023				2022				2023				2022
		Three months ended June 30,								Six months ended June 30,
		2023				2022				2023				2022
Colombia		$	5,962			$	4,816			$	11,702			$	8,841
United States			214,725				161,478				409,565				288,461
Panama			314				1,003				584				1,803
Other			4,279				1,827				6,068				4,567
Total Revenues		$	225,280			$	169,124			$	427,919			$	303,672

Schedule of Trade Accounts Receivable

Trade accounts receivable consist of the following:

Schedule of Trade Accounts Receivable 

		June 30, 2023				December 31, 2022
Trade accounts receivable			187,545				159,068
Less: Allowance for credit losses			(1,549	)			(671	)
Total		$	185,996			$	158,397

Schedule of Changes in Allowance for Doubtful Accounts Receivable

The changes in the allowance for credit losses for the six months ended June 30, 2023, are:

Schedule of Changes in Allowance for Doubtful Accounts Receivable 

		Six months ended June 30, 2023
Balance at beginning of period		$	671
Provisions for credit losses			1,899
Deductions and write-offs, net of foreign currency adjustment			(1,021	)
Balance at end of period		$	1,549

Schedule of Contract Assets and Liabilities

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

Schedule of Contract Assets and Liabilities 

		June 30, 2023				December 31, 2023
Contract assets — current		$	18,077			$	12,610
Contract assets — non-current			6,089				8,875
Contract liabilities — current			(62,907	)			(49,601	)
Contract liabilities — non-current			(12	)			(11	)
Net contract assets		$	(38,753	)		$	(28,127	)

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

		June 30, 2023				December 31, 2022
Unbilled contract receivables, gross		$	7,142			$	5,738
Retainage			17,024				15,747
Total contract assets			24,166				21,485
Less: current portion			18,077				12,610
Contract Assets – non-current		$	6,089			$	8,875

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

		June 30, 2022				December 31, 2022
Billings in excess of costs		$	23,308				14,724
Advances from customers on uncompleted contracts			39,611				34,888
Total contract liabilities			62,919				49,612
Less: current portion			62,907				49,601
Contract liabilities – non-current		$	12				11

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