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Revenue
 6 Months Ended
Jun. 30, 2023
Revenue from Contract with Customer [Abstract]  
Revenue

3. Revenue

 

Disaggregation of Revenue

 

In general, the Company’s business segmentation is aligned according to the nature and economic characteristics of our services and provides meaningful disaggregation of each business segment’s results of operations. The nature of the Company’s performance obligations within our Treatment and Services Segments result in the recognition of our revenue primarily over time. The following tables present further disaggregation of our revenues by different categories for our Services and Treatment Segments:

 

                             \ 
Revenue by Contract Type  Three Months Ended   Three Months Ended 
(In thousands)  June 30, 2023   June 30, 2022 
   Treatment   Services   Total   Treatment   Services   Total 
Fixed price  $12,834   $11,161   $23,995   $8,393   $7,916   $16,309 
Time and materials   —    1,037    1,037    —    3,146    3,146 
Total  $12,834   $12,198   $25,032   $8,393   $11,062   $19,455 

 

 

                               
Revenue by Contract Type  Six Months Ended   Six Months Ended 
(In thousands)  June 30, 2023   June 30, 2022 
   Treatment   Services   Total   Treatment   Services   Total 
Fixed price  $22,428   $19,808   $42,236   $15,872   $13,677   $29,549 
Time and materials   —    2,903    2,903    —    5,821    5,821 
Total  $22,428   $22,711   $45,139   $15,872   $19,498   $35,370 

 

                               
 Revenue by generator Three Months Ended   Three Months Ended 
 (In thousands) June 30, 2023   June 30, 2022 
   Treatment   Services   Total   Treatment   Services   Total 
Domestic government  $9,808   $11,441   $21,249   $6,243   $10,649   $16,892 
Domestic commercial   2,269    742    3,011    1,803    384    2,187 
Foreign government   657    (7)   650    153    8    161 
Foreign commercial   100    22    122    194    21    215 
Total  $12,834   $12,198   $25,032   $8,393   $11,062   $19,455 

 

                               
Revenue by generator  Six Months Ended   Six Months Ended 
 (In thousands)   June 30, 2023   June 30, 2022 
   Treatment   Services   Total   Treatment   Services   Total 
Domestic government  $17,065   $21,159   $38,224   $12,058   $18,894   $30,952 
Domestic commercial   4,475    1,339    5,814    3,239    546    3,785 
Foreign government   752    170    922    245    14    259 
Foreign commercial   136    43    179    330    44    374 
Total  $22,428   $22,711   $45,139   $15,872   $19,498   $35,370 

 

Contract Balances

 

The timing of revenue recognition and billings results in unbilled receivables (contract assets). The Company’s contract liabilities consist of deferred revenues which represent payment from customers in advance of the completion of our performance obligation. The following table represents changes in our contract asset and contract liabilities balances:

 

           Year-to-date    Year-to-date  
(In thousands)  June 30, 2023   December 31, 2022   Change ($)   Change (%) 
Contract assets                    
Unbilled receivables - current  $7,121   $6,062   $1,059    17.5%
                     
Contract liabilities                    
Deferred revenue  $4,852   $4,813   $39    0.8%

 

During the three and six months ended June 30, 2023, the Company recognized revenue of $1,098,000 and $4,593,000, respectively, related to untreated waste that was in the Company’s control as of the beginning of each respective year. During the three and six months ended June 30, 2022, the Company recognized revenue of $2,123,000 and $5,644,000, respectively, related to untreated waste that was in the Company’s control as of the beginning of each respective year. Revenue recognized in each period related to performance obligations satisfied within the respective period.

 

Remaining Performance Obligations

 

The Company applies the practical expedient in Accounting Standards Codification (“ASC”) 606-10-50-14 and does not disclose information about remaining performance obligations that have original expected durations of one year or less.

 

Within our Services Segment, there are service contracts which provide that the Company has a right to consideration from a customer in an amount that corresponds directly with the value to the customer of our performance completed to date. For those contracts, the Company has utilized the practical expedient in ASC 606-10-55-18, which allows the Company to recognize revenue in the amount for which we have the right to invoice; accordingly, the Company does not disclose the value of remaining performance obligations for those contracts.

 

 

The Company’s contracts and subcontracts relating to activities at governmental sites generally allow for termination for convenience at any time at the government’s option without payment of a substantial penalty. The Company does not disclose remaining performance obligations on these contracts.