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SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION | 3 Months Ended
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Mar. 31, 2024
SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION |
Supplemental Consolidated Financial Statement Information | 10. SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION Deferred Costs (in thousands) Deferred costs were $4.3 million and $5.4 million at January 1, 2024 and 2023, respectively. The Company’s prepaid expenses and other current assets at March 31, 2024 and 2023 included deferred costs incurred to fulfill contracts with customers of $2.8 million and $8.6 million, respectively. Deferred costs at March 31, 2024 compared to January 1, 2024 decreased primarily as a result of the completion of several projects during that three month period that had deferred fulfillment costs at January 1, 2024. Deferred costs at March 31, 2023 compared to January 1, 2023 increased primarily as a result of new projects for clients with significant deferred fulfillment costs at March 31, 2023. The amount of total deferred costs amortized for the three months ended March 31, 2024 and 2023 was $7.9 million and $7.4 million, respectively. There were no material impairment losses incurred during these periods. Deferred Revenue (in thousands) Deferred revenue was $11.8 million and $7.4 million at January 1, 2024 and 2023, respectively. The Company’s deferred revenue at March 31, 2024 and 2023 was $5.3 million and $8.3 million, respectively. Deferred revenue at March 31, 2024 compared to January 1, 2024 decreased primarily as a result of completing projects for clients with prepayments for third party reimbursables. Deferred revenue at March 31, 2023 compared to January 1, 2023 increased primarily as a result of new projects for clients with large third party reimbursables where data had not yet been recorded. Revenue recognized for the three months ended March 31, 2024 and 2023 that was included in the contract liability balance at the beginning of 2024 and 2023 was $9.7 million and $3.0 million, respectively. Related Party Transactions For the three months ended March 31, 2024, the Company incurred related party expenses totaling approximately $106,000. These are charges by various commonly controlled companies of Wilks Brothers, LLC, the holder of approximately 80% of the Company’s outstanding stock. These transactions consisted of trucking charges of $97,000 and client hosting expenses of $9,000. For the three months ended March 31, 2024, the Company received related party revenue of $5,000 for partial use of leased office space. For the three months ended March 31, 2023, the Company did not have any related party transactions. As of March 31, 2024, the Company had approximately $48,000 of outstanding related party accounts payable and no outstanding related party accounts receivable. For the three months ended March 31, 2023, Breckenridge incurred related party expenses totaling approximately $110,000. These charges by various commonly controlled companies of Wilks Brothers, LLC consisted of trucking charges of $60,000, management charges of $44,000, and payroll administration charges of $6,000.

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//210/tableOfContent + Details
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