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Revenues | 9 Months Ended
--- | ---
Sep. 30, 2022
Revenue from Contract with Customer [Abstract] |
Revenues | Note 4 — Revenues Disaggregated Revenue The following table presents disaggregated revenue in the following categories (in thousands):
| Nine months ended September 30,
| 2022 |  | 2021
Contract Types: |  |  |
Joint development agreements | $ | 4,018 |  |  | $ | 10,660 |
Other contract research | 4,100 |  |  | 1,393 |
Research and development revenue | 8,118 |  |  | 12,053 |
Licensing | 1,620 |  |  | 1,518 |
CarbonSmart | 3,413 |  |  | — |
Engineering and other services | 12,630 |  |  | 4,756 |
Carbon capture and transformation revenue | 17,663 |  |  | 6,274 |
Total Revenue | $ | 25,781 |  |  | $ | 18,327 |
Revenue from collaborative partners of $1,733 and $2,662 for the nine months ended September 30, 2022 and 2021, is included in the table above within joint development agreements. Revenue from related parties is included in licensing for $1,620 and $1,518 with the remaining revenue of $496 and $830 in Engineering and other services, for the nine months ended September 30, 2022 and 2021, respectively. The following table presents disaggregation of the Company’s revenues by customer location for the nine months ended September 30, 2022 and 2021 (in thousands):
| Nine months ended September 30,
| 2022 |  | 2021
North America | $ | 12,361 |  |  | $ | 12,725 |
Europe, Middle East, Africa (EMEA) | 7,894 |  |  | 5,210 |
Asia | 4,151 |  |  | 242 |
Australia | 1,375 |  |  | 150 |
Total Revenue | $ | 25,781 |  |  | $ | 18,327 |
Contract balances The following table provides changes in contract assets and liabilities (in thousands):
| Current Contract Assets |  | Current Contract Liabilities |  | Non-current Contract Liabilities
Balance as of January 1, 2022 as Restated | $ | 11,700 |  |  | $ | 3,476 |  |  | $ | 13,901 |
Additions to unbilled accounts receivable | 19,355 |  |  | — |  |  | — |
Increases due to cash received | — |  |  | 775 |  |  | 37 |
Unbilled accounts receivable recognized in trade receivables | (16,085) |  |  | — |  |  | — |
Decrease on revaluation on currency | (122) |  |  | — |  |  | (804) |
Reclassification from non-current to current contract liabilities | — |  |  | 2,015 |  |  | (2,015) |
Reclassification to revenue as a result of performance obligations satisfied | — |  |  | (3,298) |  |  | — |
Balance as of September 30, 2022 | $ | 14,848 |  |  | $ | 2,968 |  |  | $ | 11,119 |
The increase in contract assets was mostly due to unbilled accounts receivables from contracts with customers where the Company performed engineering and other services, while the decrease in contract liabilities was primarily due to the recognition of revenue during the period related to advance payments previously received by the Company for engineering and other services contracts with customers. As of September 30, 2022 and December 31, 2021 the Company had $11,588 and $2,878, respectively, of billed accounts receivable, net of allowance. The contract liability balance is comprised of unconditional payments received from the Company’s customers prior to the satisfaction of the related performance obligations. Such amounts are anticipated to be recorded as revenues when services are performed in subsequent periods. The Company expects to recognize the amounts classified as current contract liabilities, in revenue within one year or less and those classified as non-current within two to three years. Remaining performance obligations Transaction price allocated to the remaining performance obligation represents contracted revenue that has not yet been recognized, which includes unearned revenue that will be recognized as revenue in future periods. Transaction price allocated to remaining performance obligations is influenced by several factors, including the length of the contract term compared to the research term and the existence of customer specific acceptance rights. Remaining performance obligations consisted of the following (in thousands):
| As of
| September 30, 2022 |  | December 31, 2021
Current | $ | 2,968 |  |  | $ | 3,476 |
Non-current | 11,119 |  |  | 13,901 |
Total | $ | 14,087 |  |  | $ | 17,377 |
Revenues Disaggregated Revenue The following table presents disaggregated revenue in the following categories (in thousands):
| Year Ended December 31,
| 2021 |  | 2020
| as Restated |  | as Restated
Contract Types: |  |  |
Joint development agreements | $ | 11,700 |  |  | $ | 6,928 |
Other contract research | $ | 2,197 |  |  | 1,982 |
Research and development revenue | $ | 13,897 |  |  | 8,910 |
Licensing | $ | 2,025 |  |  | 1,018 |
Engineering and other services | $ | 9,539 |  |  | 8,425 |
Carbon capture and transformation revenue | $ | 11,564 |  |  | 9,443 |
Total Revenue | $ | 25,461 |  |  | $ | 18,353 |
Revenue from collaborative partners is included in the table above within joint development agreements. The following table presents disaggregation of the Company’s revenues by customer location for the years ended December 31, 2021 and 2020 (in thousands):
| Year Ended December 31,
| 2021 |  | 2020
| as Restated |  | as Restated
North America | $ | 15,825 |  |  | $ | 15,732 |
Europe | 7,522 |  |  | 2,117 |
Asia | 1,477 |  |  | 504 |
Australia | 637 |  |  | — |
Total Revenue | $ | 25,461 |  |  | $ | 18,353 |
Contract balances The following table provides changes in contract assets and liabilities during the year ended December 31, 2021.
| Current Contract Assets |  | Current Contract Liabilities |  | Non-current Contract Liabilities
Balance as of December 31, 2020 as Restated | $ | 6,186 |  |  | $ | 5,480 |  |  | $ | 11,291 |
Additions to unbilled accounts receivable as Restated | 8,516 |  |  | — |  |  | — |
Increases due to cash received | — |  |  | 20 |  |  | 5,690 |
Unbilled accounts receivable recognized in trade receivables as Restated | (3,002) |  |  | — |  |  | — |
Reclassification from long-term to short-term | — |  |  | 3,080 |  |  | (3,080) |
Reclassification to revenue as a result of performance obligations satisfied | — |  |  | (5,104) |  |  | — |
Balance as of December 31, 2021 | $ | 11,700 |  |  | $ | 3,476 |  |  | $ | 13,901 |
The increase in contract assets was mostly due to unbilled accounts receivables from contracts with customers where the Company performed engineering and other services, while the increase in contract liabilities was primarily due to advance payments received under engineering and other services. As of December 31, 2021 and 2020 the Company had $2,878 and $5,521, respectively, of billed accounts receivable. The contract liability balance is comprised of unconditional payments received from the Company’s customers prior to the satisfaction of the related performance obligations. Such amounts are anticipated to be recorded as revenues when services are performed in subsequent periods. The Company expects to recognize the amounts classified as current contract liabilities, in revenue within one year or less and those classified as non-current within two and three years. Remaining performance obligations Transaction price allocated to the remaining performance obligation represents contracted revenue that has not yet been recognized, which includes unearned revenue that will be recognized as revenue in future periods. Transaction price allocated to remaining performance obligations is influenced by several factors, including the length of the contract term compared to the research term and the existence of customer specific acceptance rights. Remaining performance obligations consisted of the following (in thousands):
| Year Ended December 31,
| 2021 |  | 2020
Current | $ | 3,476 |  |  | $ | 5,480 |
Non-current | 13,901 |  |  | 11,291 |
Total | $ | 17,377 |  |  | $ | 16,771 |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI https://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
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