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Disaggregation of Revenue and Contract Balances
 3 Months Ended
Mar. 31, 2021
Disaggregation Of Revenue [Abstract]  
Disaggregation of Revenue and Contract Balances

5. Disaggregation of Revenue and Contract Balances

Contracts are considered lump sum and evaluated for cost-basis percentage completion revenue calculation if any of the components of the contract are subject to fixed fee or unit pricing. As such, a contract containing a mix of hourly and fixed fee assignments may be characterized as one lump sum contract for purposes of ASC Topic 606. A contract must contain hourly billed components exclusively to qualify for the as-billed practical expedient in ASC Topic 606. For the three months ended March 31, 2021, the Company derived 91.6% of its revenue from contracts classified as lump sum, and 8.4% of its revenue from exclusively time and material contracts. The Company had approximately $94.8 million in remaining performance obligations as of March 31, 2021 of which it expects to recognize approximately 77% within the next twelve months and the remaining 23% thereafter.

The Company recognized $0.9 million of revenue for the three months ended March 31, 2021, which was included in the contract liabilities balance as of December 31, 2020, and $2.9 million of revenue for the three months ended March 31, 2020, which was included in the contract liabilities balance as of December 31, 2019.