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Revenues
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
Disaggregated Revenue
The following table presents disaggregated revenue in the following categories (in thousands):
 Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Contract Types:
Licensing$8,541 $815 $9,121 $1,369 
Engineering and other services5,122 8,878 9,578 14,678 
Biorefining revenue$13,663 $9,693 $18,699 $16,047 
Joint development agreements1,333 1,080 4,205 3,116 
Contract research1,441 1,137 2,914 2,393 
Joint development and contract research revenue$2,774 $2,217 $7,119 $5,509 
CarbonSmart product938 1,007 1,801 1,007 
Total Revenue
$17,375 $12,917 $27,619 $22,563 
The following table presents revenue from partners in collaborative arrangements and from grant contributions which are included in the table above as follows (in thousands):
 
Three Months Ended June 30,
Six Months Ended June 30,
2024
2023
2024
2023
Revenue from partners in collaborative agreements included in the Joint development agreements above
$1,329 $462 $3,552 $1,550 
Revenue from grant contributions included in Engineering and other services above
2,997 6,646 4,153 9,713 
The following table presents disaggregation of the Company’s revenues by customer location for the three and six months ended June 30, 2024 and 2023 (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
20242023
2024
2023
North America$11,131 $2,314 $15,589 $6,547 
Europe, Middle East, Africa (EMEA)5,014 9,646 9,594 14,356 
Asia826 418 2,032 468 
Australia404 539 404 1,192 
Total Revenue
$17,375 $12,917 $27,619 $22,563 
Contract balances
The following table provides changes in contract assets and liabilities (in thousands):
Current Contract AssetsCurrent Contract LiabilitiesNon-current Contract Liabilities
Balance as of December 31, 2023$28,238 $3,198 $8,233 
Additions to unbilled accounts receivable19,460 — — 
Increases due to consideration received— 7,089 — 
Unbilled accounts receivable recognized in trade receivables(20,494)— — 
Decrease on revaluation on currency(109)(1)(162)
Reclassification from long-term to short-term— 1,344 (1,344)
Reclassification to revenue as a result of performance obligations satisfied— (8,305)— 
Additions due to LanzaJet sublicense
— 2,687 1,343 
Balance as of June 30, 2024$27,095 $6,012 $8,070 
The increase in contract assets was mostly due to unbilled accounts receivable resulting from revenue recorded under contracts with customers and grants where the Company performed engineering and other services, and primarily relates to contracts with government entities. As of June 30, 2024 and December 31, 2023 the Company had $8,162 and $11,157, respectively, of billed accounts receivable, net of allowance.
The overall increase in contract liabilities was primarily due to the recognition of the portion of payments in shares received in advance from LanzaJet for the remaining sublicensing performance obligation (refer to Note 6 - Investments for further details). 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 obligations 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
June 30, 2024December 31, 2023
Current$6,012 $3,198 
Non-current8,0708,233
Total
$14,082 $11,431