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Segment Reporting | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Segment Reporting | 11. Segment Reporting In accordance with ASC 280, “Segment Reporting”, the Company defines an operating segment as a business activity: (1) from which we may earn revenue and incur expenses; (2) whose operating results are regularly reviewed by the Chief Operating Decision Maker (“CODM”) to make decisions about resources to be allocated to the segment and assess its performance; and (3) for which discrete financial information is available. The Company has two reporting segments, consisting of the Treatment and Services Segments, which are primarily based on a service offering approach and defined as follow: TREATMENT SEGMENT, which includes:
| - | nuclear, low-level radioactive, mixed waste (containing both hazardous and low-level radioactive constituents), hazardous and non-hazardous waste treatment, processing and disposal services primarily through four uniquely licensed and permitted treatment and storage facilities; and
| - | R&D activities to identify, develop and implement innovative waste processing techniques for problematic waste streams.
SERVICES SEGMENT, which includes:
| - | Technical services, which include:
| o | professional radiological measurement and site survey of large government and commercial installations using advanced methods, technology and engineering;
| o | integrated Occupational Safety and Health services including industrial hygiene (“IH”) assessments; hazardous materials surveys, e.g., exposure monitoring; lead and asbestos management/abatement oversight; indoor air quality evaluations; health risk and exposure assessments; health & safety plan/program development, compliance auditing and training services; and Occupational Safety and Health Administration (“OSHA”) citation assistance;
| o | global technical services providing consulting, engineering, project management, waste management, environmental, and decontamination and decommissioning (“D&D”) field, technical, and management personnel and services to commercial and government customers; and
| o | on-site waste management services to commercial and governmental customers.
| - | Nuclear services, which include:
| o | technology-based services including engineering, D&D, specialty services and construction, logistics, transportation, processing and disposal;
| o | remediation of nuclear licensed and federal facilities and the remediation cleanup of nuclear legacy sites. Such services capability includes: project investigation; radiological engineering; partial and total plant D&D; facility decontamination, dismantling, demolition, and planning; site restoration; logistics; transportation; and emergency response; and
| - | A company owned equipment calibration and maintenance laboratory that services, maintains, calibrates, and sources (i.e., rental) health physics, IH and customized nuclear, environmental, and occupational safety and health (“NEOSH”) instrumentation.
The Company’s reporting segments exclude our corporate headquarter which serves to support its two reporting segments through various functions, such as our executives, finance, treasury, human resources, accounting, and legal departments. Financial results for the corporate headquarter are not considered by the CODM in evaluating the performance of the reportable segments. Our reporting segment also excludes our discontinued operations (see “Note 10 – Discontinued Operations”) which do not generate revenues. The Company’s CODM, which is its chief executive officer, evaluates the performance of the Treatment and Services segments and allocates resources (including financial or capital resources) to each reporting segment based on revenue and (loss) income from operations by comparing actual results for these metrics to budgeted and forecasted amounts for these metrics on a monthly, quarterly and year-to-date basis. The Company’s CODM does not evaluate and allocate resources for the reportable segments using assets; therefore, the Company does not disclosure assets for its reporting segments. The table below summarizes loss from operations for the Company’s two reporting segments and its corporate headquarter and provides reconciliation of such financial metric to the Company’s consolidated totals for the three months ended March 31, 2025, and 2024 for our continuing operations. Significant segment expenses that are included in the measure of segment profit or losses for each reportable segment, and regularly provided to the CODM include payroll and benefit, material and supplies, disposal, transportation and subcontract expenses and are reflected separately, where applicable (in thousands). Schedule of Segment Reporting Information
Segment Reporting for the Quarter Ended March 31, 2025
|  | Treatment |  |  | Services |  |  | Segments Total |  |  | Corporate (1) |  |  | Consolidated Total |
Revenue from external customers |  | $ | 9,186 |  |  | $ | 4,733 |  |  | $ | 13,919 |  |  | $ | — |  |  | $ | 13,919 |
Cost of Goods Sold: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payroll and benefits expenses |  |  | 4,437 |  |  |  | 2,013 |  |  |  | 6,450 |  |  |  | — |  |  |  | 6,450 |
Material and supplies expenses |  |  | 1,351 |  |  |  | — |  |  |  | 1,351 |  |  |  | — |  |  |  | 1,351 |
Disposal expenses |  |  | 220 |  |  |  | — |  |  |  | 220 |  |  |  | — |  |  |  | 220 |
Transportation expenses |  |  | 495 |  |  |  | — |  |  |  | 495 |  |  |  | — |  |  |  | 495 |
Subcontract expenses |  |  | — |  |  |  | 908 |  |  |  | 908 |  |  |  | — |  |  |  | 908 |
Other cost of goods sold (2) |  |  | 2,433 |  |  |  | 1,405 |  |  |  | 3,838 |  |  |  | — |  |  |  | 3,838 |
Total cost of goods sold |  |  | 8,936 |  |  |  | 4,326 |  |  |  | 13,262 |  |  |  | — |  |  |  | 13,262 |
Gross profit |  |  | 250 |  |  |  | 407 |  |  |  | 657 |  |  |  | — |  |  |  | 657 |
Selling, general and administrative expenses (“SG&A”): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payroll and benefits |  |  | 873 |  |  |  | 538 |  |  |  | 1,411 |  |  |  | 931 |  |  |  | 2,342 |
Other SG&A (3) |  |  | 483 |  |  |  | 198 |  |  |  | 681 |  |  |  | 992 |  |  |  | 1,673 |
Total SG&A |  |  | 1,356 |  |  |  | 736 |  |  |  | 2,092 |  |  |  | 1,923 |  |  |  | 4,015 |
Research and development |  |  | 291 |  |  |  | 23 |  |  |  | 314 |  |  |  | 69 |  |  |  | 383 |
Gain on disposal of property and equipment |  |  | — |  |  |  | (5 | ) |  |  | (5 | ) |  |  | — |  |  |  | (5 | )
Loss from operations |  | $ | (1,397 | ) |  | $ | (347 | ) |  | $ | (1,744 | ) |  | $ | (1,992 | ) |  |  | (3,736 | )
Interest income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 335 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (112 | )
Interest expense-financing fees |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (20 | )
Other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 33 |
Loss from continuing operations before taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,500 | )
Income tax expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | — |
Loss from continuing operations, net of taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (3,500 | )
Segment Reporting for the quarter ended March 31, 2024
|  | Treatment |  |  | Services |  |  | Segments Total |  |  | Corporate (1) |  |  | Consolidated Total |
Revenue from external customers |  | $ | 8,709 |  |  | $ | 4,908 |  |  | $ | 13,617 |  |  | $ | — |  |  | $ | 13,617 |
Cost of goods sold: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payroll and benefit expenses |  |  | 3,751 |  |  |  | 2,452 |  |  |  | 6,203 |  |  |  | — |  |  |  | 6,203 |
Material and supplies expenses |  |  | 763 |  |  |  | — |  |  |  | 763 |  |  |  | — |  |  |  | 763 |
Disposal expenses |  |  | 1,569 |  |  |  | — |  |  |  | 1,569 |  |  |  | — |  |  |  | 1,569 |
Transportation expenses |  |  | 298 |  |  |  | — |  |  |  | 298 |  |  |  | — |  |  |  | 298 |
Subcontract expenses |  |  | — |  |  |  | 1,810 |  |  |  | 1,810 |  |  |  | — |  |  |  | 1,810 |
Other cost of goods sold (2) |  |  | 2,380 |  |  |  | 1,214 |  |  |  | 3,594 |  |  |  | — |  |  |  | 3,594 |
Total cost of goods sold |  |  | 8,761 |  |  |  | 5,476 |  |  |  | 14,237 |  |  |  | — |  |  |  | 14,237 |
Gross loss |  |  | (52 | ) |  |  | (568 | ) |  |  | (620 | ) |  |  | — |  |  |  | (620 | )
SG&A: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payroll and benefits |  |  | 670 |  |  |  | 655 |  |  |  | 1,325 |  |  |  | 834 |  |  |  | 2,159 |
Other SG&A (3) |  |  | 395 |  |  |  | 137 |  |  |  | 532 |  |  |  | 853 |  |  |  | 1,385 |
Total SG&A |  |  | 1,065 |  |  |  | 792 |  |  |  | 1,857 |  |  |  | 1,687 |  |  |  | 3,544 |
Research and development |  |  | 218 |  |  |  | 28 |  |  |  | 246 |  |  |  | 50 |  |  |  | 296 |
Loss from operations |  | $ | (1,335 | ) |  | $ | (1,388 | ) |  | $ | (2,723 | ) |  | $ | (1,737 | ) |  |  | (4,460 | )
Interest income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 174 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (116 | )
Interest expense-financing fees |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (13 | )
Other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1 |
Loss from continuing operations before taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (4,414 | )
Income tax benefit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (956 | )
Loss from continuing operations, net of taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (3,458 | )
(1) | Amounts reflect the activity for corporate headquarters not included in the segment reporting information.
(2) | Other cost of goods sold for each reportable segment includes:
| Treatment - lab, regulatory, maintenance, depreciation and amortization, travel, outside services and general expenses. Services - material and supplies, disposal, transportation, lab, regulatory, maintenance, depreciation and amortization, travel, outside services and general expenses.
(3) | Other SG&A for each reportable segment and Corporate includes:
| Treatment-depreciation and amortization, travel, outside services, maintenance and general expenses.
| Services- travel, outside services, maintenance and general expenses.
| Corporate-maintenance, depreciation and amortization, travel, public company, outside services and general expenses.
The following table presents depreciation and amortization for the three months ended March 31, (in thousand): Schedule of depreciation and amortization
|  | 2025 |  |  | 2024 |
Treatment |  | $ | 381 |  |  | $ | 366 |
Services |  |  | 44 |  |  |  | 44 |
Total segment |  |  | 425 |  |  |  | 410 |
Corporate |  |  | 11 |  |  |  | 21 |
Total |  | $ | 436 |  |  | $ | 431 |
The following table presents capital expenditures for the three months ended March 31, (net of financed amount of $132 and $44 for the three months ended March 31, 2025, and 2024, respectively) (in thousand): SCHEDULE OF CAPITAL EXPENDITURES
|  | 2025 |  |  | 2024 |
Treatment |  | $ | 487 |  |  | $ | 160 |
Services |  |  | 36 |  |  |  | 84 |
Total segment |  |  | 523 |  |  |  | 244 |
Corporate |  |  | — |  |  |  | — |
Total |  | $ | 523 |  |  | $ | 244 |

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