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Disaggregation of Revenue and Contract Balances
 6 Months Ended
Jun. 30, 2024
Disaggregation of Revenue [Abstract]  
Disaggregation of Revenue and Contract Balances Disaggregation of Revenue and Contract Balances
The Company disaggregates revenues by contract type, see Revenue Recognition in Note 2 for further details. For the three and six months ended June 30, 2024, the Company derived 89.9% and 89.8% of its revenue from contracts classified as lump sum, and 10.1% and 10.2% of its revenue from time and material contracts, respectively. For the three and six months ended June 30, 2023, the Company derived 88.8% and 89.2% of its revenue from contracts classified as lump sum, and 11.2% and 10.8% of its revenue from time and material contracts, respectively. The Company had approximately $273.9 million in remaining performance obligations as of June 30, 2024 of which it expects to recognize approximately 86.3% within the next twelve months and the remaining 13.7% in the next twelve to twenty-four months.
Disaggregated revenues by contract type were as follows (in thousands):
For the Three Months Ended June 30,For the Six Months Ended June 30,
2024202320242023
Fixed fee$93,958 89.9 %$73,508 88.8 %$179,082 89.8 %$141,753 89.2 %
Time-and-materials10,543 10.1 %9,247 11.2 %20,327 10.2 %17,102 10.8 %
Gross contract revenue$104,501 100.0 %$82,755 100.0 %$199,409 100.0 %$158,855 100.0 %
The Company recognized $0.5 million and $3.1 million of revenue for the three and six months ended June 30, 2024, respectively, which were included in the contract liabilities balance as of December 31, 2023, and $0.2 million and $2.8 million of revenue for the three and six months ended June 30, 2023, respectively, which were included in the contract liabilities balance as of December 31, 2022.