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Revenue Recognition
 6 Months Ended
Jun. 30, 2022
Revenue From Contract With Customer [Abstract]  
Revenue Recognition

3. Revenue Recognition —The Company recognizes revenue from the sale of its products, which include crop and non-crop products. The Company sells its products to customers, which include distributors, retailers, and growers. In addition, the Company recognizes royalty income from licensing agreements. Based on similar economic and operational characteristics, the Company’s business is aggregated into one reportable segment. Selective enterprise information of sales disaggregated by category and geographic region is as follows:

 

 

 

Three Months Ended

June 30,

 

 

Six Months Ended

June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Net sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. crop

 

$

63,195

 

 

$

62,575

 

 

$

151,388

 

 

$

117,330

 

U.S. non-crop

 

 

21,316

 

 

 

21,488

 

 

 

34,712

 

 

 

38,941

 

Total U.S.

 

 

84,511

 

 

 

84,063

 

 

 

186,100

 

 

 

156,271

 

International

 

 

63,573

 

 

 

50,547

 

 

 

111,419

 

 

 

94,494

 

Total net sales:

 

$

148,084

 

 

$

134,610

 

 

$

297,519

 

 

$

250,765

 

Timing of revenue recognition:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goods and services transferred at a point

   in time

 

$

148,047

 

 

$

134,493

 

 

$

297,376

 

 

$

250,464

 

Goods and services transferred over time

 

 

37

 

 

 

117

 

 

 

143

 

 

 

301

 

Total net sales:

 

$

148,084

 

 

$

134,610

 

 

$

297,519

 

 

$

250,765

 

 

Contract assets relate to royalties earned on certain functional licenses granted for the use of the Company’s intellectual property and amounted to $3,000 and $3,900 at June 30, 2022 and December 31, 2021, respectively. The short-term and long-term contract assets of $1,850 and $1,150 are included in other receivables and other assets, respectively, on the condensed consolidated balance sheets as of June 30, 2022. The short-term and long-term assets of $1,825 and $2,075 are included in other receivables and other assets, respectively, on the condensed consolidated balance sheets as of December 31, 2021.

The Company sometimes receives payments from its customers in advance of goods and services being provided in return for early cash incentive programs. These payments are included in Customer prepayments on the condensed consolidated balance sheets. Revenue recognized for the three- and six-month periods ended June 30, 2022, that was included in customer prepayments at the beginning of 2022, was $18,264 and $62,792, respectively. The Company expects to recognize all its remaining customer prepayments as revenue in fiscal 2022.