| 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, 2025 |
|
|
December
31, 2024 |
|
| |
|
Treatment |
|
|
Services |
|
|
Total |
|
|
Treatment |
|
|
Services |
|
|
Total |
|
| Fixed price |
|
$ |
45,097 |
|
|
$ |
4,491 |
|
|
$ |
49,588 |
|
|
$ |
34,953 |
|
|
$ |
18,750 |
|
|
$ |
53,703 |
|
| Time and materials |
|
|
— |
|
|
|
12,086 |
|
|
|
12,086 |
|
|
|
— |
|
|
|
5,414 |
|
|
|
5,414 |
|
| Total |
|
$ |
45,097 |
|
|
$ |
16,577 |
|
|
$ |
61,674 |
|
|
$ |
34,953 |
|
|
$ |
24,164 |
|
|
$ |
59,117 |
|
| |
|
Treatment |
|
|
Services |
|
|
Total |
|
|
Treatment |
|
|
Services |
|
|
Total |
|
| Revenue by generator |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (In thousands) |
|
Twelve
Months Ended |
|
|
Twelve
Months Ended |
|
| |
|
December
31, 2025 |
|
|
December
31, 2024 |
|
| |
|
Treatment |
|
|
Services |
|
|
Total |
|
|
Treatment |
|
|
Services |
|
|
Total |
|
| Domestic government |
|
$ |
29,093 |
|
|
$ |
14,247 |
|
|
$ |
43,340 |
|
|
$ |
24,487 |
|
|
$ |
22,389 |
|
|
$ |
46,876 |
|
| Domestic commercial |
|
|
10,272 |
|
|
|
1,622 |
|
|
|
11,894 |
|
|
|
8,566 |
|
|
|
1,223 |
|
|
|
9,789 |
|
| Foreign government |
|
|
4,686 |
|
|
|
489 |
|
|
|
5,175 |
|
|
|
509 |
|
|
|
463 |
|
|
|
972 |
|
| Foreign commercial |
|
|
1,046 |
|
|
|
219 |
|
|
|
1,265 |
|
|
|
1,391 |
|
|
|
89 |
|
|
|
1,480 |
|
| Total |
|
$ |
45,097 |
|
|
$ |
16,577 |
|
|
$ |
61,674 |
|
|
$ |
34,953 |
|
|
$ |
24,164 |
|
|
$ |
59,117 |
|
|
| SCHEDULE OF CONTRACT BALANCES |
SCHEDULE
OF CONTRACT BALANCES
| |
|
|
|
|
|
|
|
Year-to-date |
|
|
Year-to-date |
|
| (In thousands) |
|
December
31, 2025 |
|
|
December
31, 2024 |
|
|
Change
($) |
|
|
Change
(%) |
|
| Contract assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Unbilled receivables - current |
|
$ |
8,781 |
|
|
$ |
4,990 |
|
|
$ |
3,791 |
|
|
|
76.0 |
% |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Deferred revenue |
|
$ |
7,007 |
|
|
$ |
6,711 |
|
|
$ |
296 |
|
|
|
4.4 |
% |
The
increase in unbilled receivables from 2024 to 2025 was primarily due to timing difference between completion of revenue recognition and
agreed upon invoicing terms at one of our Treatment facilities.
| |
|
|
|
|
|
|
|
Year-to-date |
|
|
Year-to-date |
|
| (In thousands) |
|
December
31, 2024 |
|
|
December
31, 2023 |
|
|
Change
($) |
|
|
Change
(%) |
|
| Contract assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Unbilled receivables - current |
|
$ |
4,990 |
|
|
$ |
8,432 |
|
|
$ |
(3,442 |
) |
|
|
(40.8 |
)% |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contract liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Deferred revenue |
|
$ |
6,711 |
|
|
$ |
6,815 |
|
|
$ |
(104 |
) |
|
|
(1.5 |
)% |
|
| SCHEDULE OF CHANGES IN ACCOUNTS RECEIVABLE, NET OF CREDIT LOSSES |
The
following table represents changes in accounts receivable, net of credit losses, for the periods noted:
SCHEDULE OF CHANGES IN ACCOUNTS RECEIVABLE, NET OF CREDIT LOSSES
| |
|
|
|
|
|
|
|
Year-to-date |
|
|
Year-to-date |
|
| (In thousands) |
|
December
31, 2025 |
|
|
December
31, 2024 |
|
|
Change
($) |
|
|
Change
(%) |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accounts Receivable (net) |
|
$ |
11,228 |
|
|
$ |
11,579 |
|
|
$ |
(351 |
) |
|
|
(3.0 |
)% |
| |
|
|
|
|
|
|
|
Year-to-date |
|
|
Year-to-date |
|
| |
|
December
31, 2024 |
|
|
December
31, 2023 |
|
|
Change
($) |
|
|
Change
(%) |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accounts Receivable (net) |
|
$ |
11,579 |
|
|
$ |
9,722 |
|
|
$ |
1,857 |
|
|
|
19.1 |
% |
|