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Revenues from Contracts with Customers | 3 Months Ended
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Mar. 31, 2025
Revenue from Contract with Customer [Abstract] |
Revenues from Contracts with Customers | NOTE 4 – REVENUES FROM CONTRACTS WITH CUSTOMERS The majority of the Company’s revenues are comprised of renewable energy and related Environmental Attribute sales provided under short, medium and long term contracts with its customers. All revenue is recognized when (or as) the Company satisfies its performance obligation(s) under the contract (either implicit or explicit) by transferring the promised product or service to its customer either when (or as) its customer obtains control of the product or service. A performance obligation is a promise in a contract to transfer a distinct product or service to a customer. A contract’s transaction price is allocated to each distinct performance obligation. The Company allocates the contract’s transaction price to each performance obligation using the product’s observable market standalone selling price for each distinct product in the contract. The Company's typical invoicing terms are payment due within 30 days. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring its products or services. As such, revenue is recorded net of allowances and customer discounts as well as net of transportation and gathering costs incurred by the customer following the transfer of control of the commodities sold. To the extent applicable, sales, value add and other taxes collected from customers and remitted to governmental authorities are accounted for on a net (excluded from revenues) basis. The Company’s performance obligations related to the sale of renewable energy (i.e. RNG and Renewable Electricity) are generally satisfied over time. Revenue related to the sale of renewable energy is generally recognized over time using an output based upon the product quantity delivered to the customer. This measure is used to best depict the Company’s performance to date under the terms of the contract. Revenue from products transferred to customers over time accounted for approximately 36% and 27% of revenue for the three months ended March 31, 2025 and 2024, respectively. The nature of the Company’s long-term contracts may give rise to several types of variable consideration, such as periodic price increases. This variable consideration is outside of the Company’s influence as the variable consideration is dictated by the market. Therefore, the variable consideration associated with the long-term contracts is considered fully constrained. The Company’s performance obligations related to the sale of Environmental Attributes are generally satisfied at a point in time and were approximately 64%, and 73% of revenue for the three months ended March 31, 2025 and 2024, respectively. The Company recognizes Environmental Attribute revenue at the point in time in which the customer obtains control of the Environmental Attributes, which is generally when the title of the Environmental Attribute passes to the customer upon delivery. In limited cases, title does not transfer to the customer and revenue is not recognized until the customer has accepted the Environmental Attributes. The Company’s performance obligations under its counterparty sharing agreements are generally satisfied at a point in time when the earnings process is completed by the counterparty. Counterparty sharing arrangement revenues were approximately 1.2% and 0.1% of revenue for the three months ended March 31, 2025 and 2024, respectively. The following tables display the Company’s disaggregated revenue by major source based on product type and timing of transfer of goods and services for the three months ended March 31, 2025 and 2024:
|  | Three Months Ended March 31, 2025 |
|  | Goods transferred at a point in time |  |  | Goods transferred over time |  |  | Total |
Major goods/Service line: |  |  |  |  |  |  |  |  |
Natural gas commodity |  | $ | 498 |  |  | $ | 12,749 |  |  | $ | 13,247 |
Natural gas environmental attributes |  |  | 24,991 |  |  |  | — |  |  |  | 24,991 |
Electric commodity |  |  | — |  |  |  | 2,657 |  |  |  | 2,657 |
Electric environmental attributes |  |  | 1,708 |  |  |  | — |  |  |  | 1,708 |
|  | $ | 27,197 |  |  | $ | 15,406 |  |  | $ | 42,603 |
Operating segment: |  |  |  |  |  |  |  |  |
RNG |  | $ | 25,489 |  |  | $ | 12,749 |  |  | $ | 38,238 |
REG |  |  | 1,708 |  |  |  | 2,657 |  |  |  | 4,365 |
|  | $ | 27,197 |  |  | $ | 15,406 |  |  | $ | 42,603 |
|  | Three Months Ended March 31, 2024 |
|  | Goods transferred at a point in time |  |  | Goods transferred over time |  |  | Total |
Major goods/Service line: |  |  |  |  |  |  |  |  |
Natural gas commodity |  | $ | 19 |  |  | $ | 7,516 |  |  | $ | 7,535 |
Natural gas environmental attributes |  |  | 26,332 |  |  |  | — |  |  |  | 26,332 |
Electric commodity |  |  | — |  |  |  | 3,031 |  |  |  | 3,031 |
Electric environmental attributes |  |  | 1,889 |  |  |  | — |  |  |  | 1,889 |
|  | $ | 28,240 |  |  | $ | 10,547 |  |  | $ | 38,787 |
Operating segment: |  |  |  |  |  |  |  |  |
RNG |  | $ | 26,351 |  |  | $ | 7,516 |  |  | $ | 33,867 |
REG |  |  | 1,889 |  |  |  | 3,031 |  |  |  | 4,920 |
|  | $ | 28,240 |  |  | $ | 10,547 |  |  | $ | 38,787 |
Practical expedients and remaining performance obligations The Company recognizes the sale of natural gas and electric commodities using the right to invoice practical expedient. The Company determined that the revenues recognized as of period end correspond directly with the value transferred to customers and the Company's satisfaction of the performance obligations to date. Furthermore, with the application of the right to invoice practical expedient and in consideration that contracts related to future environmental attributes sales do not exceed one year, there are no remaining unsatisfied or partially satisfied performance obligations as of March 31, 2025.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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