| SCHEDULE OF DISAGGREGATION OF REVENUE |
SCHEDULE
OF DISAGGREGATION OF REVENUE
| |
|
Treatment |
|
|
Services |
|
|
Total |
|
|
Treatment |
|
|
Services |
|
|
Total |
|
| Revenue by Contract Type |
|
|
|
|
|
|
| (In thousands) |
|
Twelve
Months Ended |
|
|
Twelve
Months Ended |
|
| |
|
December
31, 2023 |
|
|
December
31, 2022 |
|
| |
|
Treatment |
|
|
Services |
|
|
Total |
|
|
Treatment |
|
|
Services |
|
|
Total |
|
| Fixed price |
|
$ |
43,477 |
|
|
$ |
41,540 |
|
|
$ |
85,017 |
|
|
$ |
33,358 |
|
|
$ |
26,960 |
|
|
$ |
60,318 |
|
| Time and materials |
|
|
— |
|
|
|
4,718 |
|
|
|
4,718 |
|
|
|
— |
|
|
|
10,281 |
|
|
|
10,281 |
|
| Total |
|
$ |
43,477 |
|
|
$ |
46,258 |
|
|
$ |
89,735 |
|
|
$ |
33,358 |
|
|
$ |
37,241 |
|
|
$ |
70,599 |
|
| |
|
Treatment |
|
|
Services |
|
|
Total |
|
|
Treatment |
|
|
Services |
|
|
Total |
|
| Revenue by generator |
|
|
|
|
|
|
| (In thousands) |
|
Twelve
Months Ended |
|
|
Twelve
Months Ended |
|
| |
|
December
31, 2023 |
|
|
December
31, 2022 |
|
| |
|
Treatment |
|
|
Services |
|
|
Total |
|
|
Treatment |
|
|
Services |
|
|
Total |
|
| Domestic government |
|
$ |
31,448 |
|
|
$ |
39,194 |
|
|
$ |
70,642 |
|
|
$ |
23,752 |
|
|
$ |
35,906 |
|
|
$ |
59,658 |
|
| Domestic commercial |
|
|
10,670 |
|
|
|
6,357 |
|
|
|
17,027 |
|
|
|
8,307 |
|
|
|
1,408 |
|
|
|
9,715 |
|
| Foreign government |
|
|
1,001 |
|
|
|
619 |
|
|
|
1,620 |
|
|
|
574 |
|
|
|
(202 |
) |
|
|
372 |
|
| Foreign commercial |
|
|
358 |
|
|
|
88 |
|
|
|
446 |
|
|
|
725 |
|
|
|
129 |
|
|
|
854 |
|
| Total |
|
$ |
43,477 |
|
|
$ |
46,258 |
|
|
$ |
89,735 |
|
|
$ |
33,358 |
|
|
$ |
37,241 |
|
|
$ |
70,599 |
|
|
| SCHEDULE OF CONTRACT BALANCES |
The
timing of revenue recognition and billings results in unbilled receivables (contract assets). The Company’s contract liabilities
consist of deferred revenues which represent advance payment from customers in advance of the completion of our performance obligation.
The following table represents changes in our contract asset and contract liabilities balances: Our deferred revenue as of December 31,
2023, included a remaining prepayment of approximately $2,031,000 by a certain customer for a waste treatment project which is expected
to be completed in 2024.
SCHEDULE
OF CONTRACT BALANCES
| (In thousands) |
|
December
31, 2023 |
|
|
December
31, 2022 |
|
|
Year-to-date
Change ($) |
|
|
Year-to-date
Change (%) |
|
| Contract assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Unbilled receivables - current |
|
$ |
8,432 |
|
|
$ |
6,062 |
|
|
$ |
2,370 |
|
|
|
39.1 |
% |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Deferred revenue |
|
$ |
6,815 |
|
|
$ |
4,813 |
|
|
$ |
2,002 |
|
|
|
41.6 |
% |
|