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Segment Information | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Segment Information | NOTE 17 – SEGMENT INFORMATION The Company’s reportable operating segments for the three months March 31, 2025 and 2024 are Renewable Natural Gas and Renewable Electricity Generation. Renewable Natural Gas includes the production of RNG. Renewable Electricity Generation includes generation of electricity at biogas-to-electricity plants. The Corporate entity is not determined to be an operating segment but is discretely disclosed for purposes of reconciliation of the Company’s consolidated financial statements, and though not denoted as an operating segment, significant expenses are noted within the segment. The following tables are consistent with the manner in which the Chief Executive Officer, who is the Company's chief operating decision maker ("CODM"), evaluates the performance of each segment and allocates the Company's resources. The CODM evaluates the performance of the segments based on segment operating income (loss). The Company maintains discrete financial information for its operating sites, which meet the definition of an operating segment, but are aggregated into reportable segments based on the type of commodity produced. Total Assets and Capital expenditures by segment are also provided within the tables below. “RNG” refers to Renewable Natural Gas and “REG” refer to Renewable Electricity Generation.
|  | Three Months Ended March 31, 2025 |
|  | RNG |  |  | REG |  |  | Corporate |  |  | Total |
Total operating revenue |  | $ | 38,451 |  |  | $ | 4,152 |  |  | $ | — |  |  | $ | 42,603 |
Less (1) |  |  |  |  |  |  |  |  |  |  |  |
Payroll and related expenses |  |  | 2,410 |  |  |  | 683 |  |  |  | 5,158 |  |  |  | 8,251 |
Wellfield operating and maintenance |  |  | 1,655 |  |  |  | 717 |  |  | — |  |  |  | 2,372 |
Plant expense |  |  | 619 |  |  |  | 326 |  |  | — |  |  |  | 945 |
Waste disposal |  |  | 570 |  |  |  | 14 |  |  | — |  |  |  | 584 |
Preventative maintenance |  |  | 3,550 |  |  |  | 609 |  |  | — |  |  |  | 4,159 |
Breakdown expenses |  |  | 445 |  |  |  | 448 |  |  | — |  |  |  | 893 |
Utility expense |  |  | 3,926 |  |  |  | 113 |  |  | — |  |  |  | 4,039 |
Insurance |  | — |  |  | — |  |  |  | 1,330 |  |  |  | 1,330 |
Professional and IT fees |  | — |  |  | — |  |  |  | 1,360 |  |  |  | 1,360 |
Royalties, transportation, gathering and production fuel |  |  | 7,114 |  |  |  | 457 |  |  | — |  |  |  | 7,571 |
Depreciation, depletion and amortization |  |  | 4,900 |  |  |  | 1,310 |  |  |  | 54 |  |  |  | 6,264 |
Impairment |  |  | 1,993 |  |  |  | 54 |  |  | — |  |  |  | 2,047 |
Other operating expenses (2), (3) |  |  | 900 |  |  |  | 442 |  |  |  | 1,036 |  |  |  | 2,378 |
Total operating expenses |  | $ | 28,082 |  |  | $ | 5,173 |  |  | $ | 8,938 |  |  | $ | 42,193 |
Operating income (loss) |  | $ | 10,369 |  |  | $ | (1,021 | ) |  | $ | (8,938 | ) |  | $ | 410 |
Interest expense |  | — |  |  | — |  |  |  | 1,243 |  |  |  | 1,243 |
Other expense (income) |  |  | 8 |  |  |  | 9 |  |  |  | (69 | ) |  |  | (52 | )
Income (loss) before income taxes |  | $ | 10,361 |  |  | $ | (1,030 | ) |  | $ | (10,112 | ) |  | $ | (781 | )
Total assets |  | $ | 188,732 |  |  | $ | 115,729 |  |  | $ | 49,765 |  |  | $ | 354,226 |
Capital expenditures |  |  | 7,568 |  |  |  | 3,983 |  |  |  | 81 |  |  |  | 11,632 |
(1) Significant expenses regularly provided to the CODM. (2) The majority of other operating expenses for RNG and REG are consumables, rent, environmental compliance and general and administrative expenses. (3) The majority of other operating expenses for Corporate are office expenses, board of director and corporate filing fees.
|  | Three Months Ended March 31, 2024 |
|  | RNG |  |  | REG |  |  | Corporate |  |  | Total |
Total operating revenue |  | $ | 33,988 |  |  | $ | 4,799 |  |  | $ | — |  |  | $ | 38,787 |
Less (1) |  |  |  |  |  |  |  |  |  |  |  |
Payroll and related expenses |  |  | 2,168 |  |  |  | 602 |  |  |  | 5,873 |  |  |  | 8,643 |
Wellfield operating and maintenance |  |  | 1,048 |  |  |  | 571 |  |  | — |  |  |  | 1,619 |
Plant expense |  |  | 494 |  |  |  | 307 |  |  | — |  |  |  | 801 |
Waste disposal |  |  | 428 |  |  |  | 13 |  |  | — |  |  |  | 441 |
Preventative maintenance |  |  | 2,728 |  |  |  | 456 |  |  | — |  |  |  | 3,184 |
Breakdown expenses |  |  | 295 |  |  |  | 81 |  |  | — |  |  |  | 376 |
Utility expense |  |  | 3,942 |  |  |  | 61 |  |  | — |  |  |  | 4,003 |
Insurance |  | — |  |  | — |  |  |  | 1,532 |  |  |  | 1,532 |
Professional and IT fees |  | — |  |  | — |  |  |  | 1,282 |  |  |  | 1,282 |
Royalties, transportation, gathering and production fuel |  |  | 5,997 |  |  |  | 521 |  |  | — |  |  |  | 6,518 |
Depreciation, depletion and amortization |  |  | 4,076 |  |  |  | 1,297 |  |  |  | 61 |  |  |  | 5,434 |
Impairment |  |  | 216 |  |  |  | 312 |  |  | — |  |  |  | 528 |
Other operating expenses (2), (3) |  |  | 1,016 |  |  |  | 200 |  |  |  | 842 |  |  |  | 2,058 |
Total operating expenses |  | $ | 22,408 |  |  | $ | 4,421 |  |  | $ | 9,590 |  |  | $ | 36,419 |
Operating income (loss) |  | $ | 11,580 |  |  | $ | 378 |  |  | $ | (9,590 | ) |  | $ | 2,368 |
Interest expense |  | — |  |  |  | 1 |  |  |  | 1,164 |  |  |  | 1,165 |
Other expense (income) |  |  | 22 |  |  |  | (1,011 | ) |  |  | (71 | ) |  |  | (1,060 | )
Income (loss) before income taxes |  | $ | 11,558 |  |  | $ | 1,388 |  |  | $ | (10,683 | ) |  | $ | 2,263 |
Total assets |  | $ | 181,150 |  |  | $ | 87,071 |  |  | $ | 86,468 |  |  | $ | 354,689 |
Capital expenditures |  |  | 9,041 |  |  |  | 12,826 |  |  |  | 119 |  |  |  | 21,986 |
(1) Significant expenses regularly provided to the CODM. (2) The majority of other operating expenses for RNG and REG are consumables, rent, environmental compliance and general and administrative expenses. (3) The majority of other operating expenses for Corporate are office expenses, board of director and corporate filing fees. For the three months ended March 31, 2025 and 2024, three and four customers, respectively, made up greater than 10% of total revenues.
|  | Three Months Ended March 31, 2025 |
|  | RNG |  |  | REG |  |  | Corporate |  |  | Total |
Customer A |  |  | 19.1 | % |  |  | — |  |  |  | — |  |  |  | 19.1 | %
Customer B |  |  | 13.4 | % |  |  | — |  |  |  | — |  |  |  | 13.4 | %
Customer C |  |  | 10.9 | % |  |  | — |  |  |  | — |  |  |  | 10.9 | %
|  | Three Months Ended March 31, 2024 |
|  | RNG |  |  | REG |  |  | Corporate |  |  | Total |
Customer A |  |  | 40.6 | % |  |  | — |  |  |  | — |  |  |  | 40.6 | %
Customer B |  |  | 12.8 | % |  |  | — |  |  |  | — |  |  |  | 12.8 | %
Customer C |  |  | 12.8 | % |  |  | — |  |  |  | — |  |  |  | 12.8 | %
Customer D |  |  | — |  |  |  | 10.9 | % |  |  | — |  |  |  | 10.9 | %

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- Definition The entire disclosure for reporting segments including data and tables. 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