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Revenues | 12 Months Ended
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Dec. 31, 2024
Revenue from Contract with Customer [Abstract] |
Revenues | Revenues Disaggregated Revenue The following table presents disaggregated revenue in the following categories (in thousands):
|  |  | Years Ended December 31,
|  |  |  |  | 2024 |  | 2023
Contract Types: |  |  |  |  |  |  |
Licensing |  |  |  |  | $ | 11,297 |  |  | $ | 3,449 |
Engineering and other services |  |  |  |  | 19,761 |  |  | 39,196 |
Biorefining revenue |  |  |  |  | $ | 31,058 |  |  | $ | 42,645 |
Joint development agreements |  |  |  |  | 6,226 |  |  | 8,416 |
Contract research |  |  |  |  | 4,365 |  |  | 6,233 |
Joint development and contract research revenue |  |  |  |  | $ | 10,591 |  |  | $ | 14,649 |
CarbonSmart product |  |  |  |  | 7,943 |  |  | 5,337 |
Total Revenue |  |  |  |  | $ | 49,592 |  |  | $ | 62,631 |
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):
|  |  | Years Ended December 31,
|  |  |  |  | 2024 |  | 2023
Revenue from partners in collaborative agreements included in the Joint development agreements above |  |  |  |  | $ | 5,573 |  |  | $ | 5,529 |
Revenue from grant contributions included in Engineering and other services above |  |  |  |  | 6,403 |  |  | 24,146 |
Revenue by Geographic Location The following table presents disaggregation of the Company’s revenues by customer location for the years ended December 31, 2024 and 2023 (in thousands):
|  |  | Years Ended December 31,
|  |  |  |  | 2024 |  | 2023
North America |  |  |  |  | $ | 23,587 |  |  | $ | 17,618 |
Europe, Middle East, Africa (EMEA) |  |  |  |  | 16,260 |  |  | 37,447 |
Asia |  |  |  |  | 8,862 |  |  | 3,570 |
Australia |  |  |  |  | 883 |  |  | 3,996 |
Total Revenue |  |  |  |  | $ | 49,592 |  |  | $ | 62,631 |
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 December 31, 2023 | $ | 28,238 |  |  | $ | 3,198 |  |  | $ | 8,233 |
Additions to unbilled accounts receivable | 40,771 |  |  | — |  |  | — |
Increases due to consideration received | — |  |  | 15,823 |  |  | — |
Unbilled accounts receivable recognized in trade receivables | (49,934) |  |  | — |  |  | — |
Decrease on revaluation on currency | (100) |  |  | (27) |  |  | (313) |
Reclassification from long-term to short-term | — |  |  | 4,030 |  |  | (4,030) |
Reclassification to revenue as a result of performance obligations satisfied | — |  |  | (19,543) |  |  | — |
Additions due to LanzaJet sublicense | — |  |  | 2,687 |  |  | 1,343 |
Balance as of December 31, 2024 | $ | 18,975 |  |  | $ | 6,168 |  |  | $ | 5,233 |
The decrease in contract assets was mostly due to billing certain customers and government entities for engineering and other services that were previously recorded as contract assets. As of December 31, 2024 and December 31, 2023 the Company had $9,456 and $11,157, respectively, of billed accounts receivable, net of allowance. The increase in current 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), while the decrease in non-current contract liabilities is primarily due to the reclassification to current liabilities for performance obligations that will be completed within one year. The Company expects to recognize the amounts 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, including unearned revenue to be recognized in future periods. Transaction price allocated to remaining performance obligations is influenced by factors such as project size, duration, contract modifications, and customer-specific acceptance rights. As of December 31, 2024, the Company had approximately $30,179 in contracted revenue remaining to be recognized, of which $22,329 is expected to be recognized in the next twelve months.

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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 -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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