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SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION

9 Months Ended

Sep. 30, 2022

SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION

SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION

4. SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION

Disaggregated Revenues

The Company has one line of business, acquiring and processing seismic data in North America. Our chief operating decision maker (President and Chief Executive Officer) makes operating decisions and assesses performance based on the Company as a whole. Accordingly, the Company is considered to be in a single reportable segment. The following table presents the Company’s operating revenues (unaudited and in thousands) disaggregated by geographic region:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021			2022	2021
Operating Revenues
United States	$	3,462	$	1,914	$	11,067	$	10,891
Canada		76		—		11,751		2,964
Total	$	3,538	$	1,914	$	22,818	$	13,855

Deferred Costs (in thousands)

Deferred costs were $972 and $1,847 at January 1, 2022 and 2021, respectively. The Company’s prepaid expenses and other current assets at September 30, 2022 and 2021 included deferred costs incurred to fulfill contracts with customers of $3,636 and $210, respectively.

Deferred costs at September 30, 2022 compared to January 1, 2022 increased primarily as a result of new projects for clients with significant deferred fulfillment costs at September 30, 2022. Deferred costs at September 30, 2021 compared to January 1, 2021 decreased primarily as a result of the completion of several projects during that nine month period that had deferred fulfillment costs at January 1, 2021.

The amount of total deferred costs amortized for the three and nine months ended September 30, 2022 was $992 and $2,661, respectively. The amount of total deferred costs amortized for the three and nine months ended September 30, 2021 was $453 and $4,360, respectively. There were no material impairment losses incurred during these periods.

Deferred Revenue (in thousands)

Deferred revenue was $1,344 and $1,779 at January 1, 2022 and 2021, respectively. The Company’s deferred revenue at September 30, 2022 and 2021 was $4,378 and $96, respectively.

Deferred revenue at September 30, 2022 compared to January 1, 2022 increased primarily as a result of client prepayments for third party reimbursables for projects to be completed in the future. Deferred revenue at September 30, 2021 compared to January 1, 2021 decreased primarily as a result of completing projects for clients with prepayments for third party reimbursables.

Revenue recognized for the three and nine months ended September 30, 2022 that was included in the contract liability balance at the beginning of 2022 was $0 and $936, respectively. Revenue recognized for the three and nine months ended September 30, 2021 that was included in the contract liability balance at the beginning of 2021 was $0 and $1,779, respectively.