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SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION | 6 Months Ended
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Jun. 30, 2025
SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION |
SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION | 10. SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION Contract Assets (in thousands) Contract assets were $0.4 million and $4.3 million at January 1, 2025 and 2024, respectively. The Company’s contract assets incurred to fulfill contracts with customers at June 30, 2025 and 2024, were $7.5 million and $3.7 million, respectively. Contract assets at June 30, 2025, compared to January 1, 2025, increased primarily as a result of new projects for clients with large third party reimbursables where data had not yet been recorded. Contract assets at June 30, 2024, compared to January 1, 2024, decreased primarily as a result of the completion of several projects during that six month period that had deferred fulfillment costs at January 1, 2025. The amount of total contract assets amortized for the six months ended June 30, 2025, and 2024, was $1.9 million and $12.9 million, respectively. There were no material impairment losses incurred during these periods. Deferred Revenue (in thousands) Deferred revenue was $1.6 million and $11.8 million at January 1, 2025 and 2024, respectively. The Company’s deferred revenue at June 30, 2025 and 2024 was $17.9 million and $5.7 million, respectively. Deferred revenue at June 30, 2025 compared to January 1, 2025 increased primarily as a result of new projects for clients with large third party reimbursables where data had not yet been recorded. Deferred revenue at June 30, 2024, compared to January 1, 2024, decreased primarily as a result of completing projects for clients with prepayments for third party reimbursables. Revenue recognized for the six months ended June 30, 2025 and 2024 that was included in the contract liability balance at the beginning of 2025 and 2024 was $1.6 million and $11.4 million, respectively. Accounts Receivable (in thousands) Accounts receivable related to contracts with customers was $9.9 million and $12.5 million at January 1, 2025 and 2024, respectively. Accounts receivable related to contracts with customers was $3.5 million and $4.4 million at June 30, 2025 and 2024, respectively. Related Party Transactions For the three and six months ended June 30, 2025, the Company incurred related party expenses totaling approximately $21,000 and $95,000, respectively. These are charges by various commonly controlled companies of Wilks Brothers, LLC, the holder of approximately 80% of the Company’s outstanding stock. All transactions for the year consisted of trucking charges. As of June 30, 2025, the Company had approximately $21,000 outstanding related party accounts payable. For the three and six months ended June 30, 2024, the Company incurred related party expenses totaling approximately $0 and $106,000, respectively. These transactions consisted of trucking charges of $97,000 and client hosting expenses of $9,000. For the three and six months ended June 30, 2024, the Company received related party revenue of $9,000 and $14,000, respectively, for partial use of leased office space.

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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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