Annual report pursuant to Section 13 and 15(d)

Revenue

v3.20.1
Revenue
 12 Months Ended
Dec. 31, 2019
Revenue from Contract with Customer [Abstract]  
Revenue

NOTE 3

REVENUE

 

Disaggregation of Revenue

 

In general, the Company’s business segmentation is aligned according to the nature and economic characteristics of our services and provides meaningful disaggregation of each business segment’s results of operations. The following tables present further disaggregation of our revenues by different categories for our Services and Treatment Segments:

 

Revenue by Contract Type   Twelve Months Ended     Tweleve Months Ended  
(In thousands)   December 31, 2019     December 31, 2018  
    Treatment     Services     Total     Treatment     Services     Total  
Fixed price   $ 40,364     $ 12,162     $ 52,526     $ 36,271     $ 1,575     $ 37,846  
Time and materials      ―       20,788       20,788       ―       11,693       11,693  
Cost reimbursement      ―       145       145       ―       ―       ―  
Total   $ 40,364     $ 33,095     $ 73,459     $ 36,271     $ 13,268     $ 49,539  

 

Revenue by generator   Twelve Months Ended     Twelve Months Ended  
(In thousands)   December 31, 2019     December 31, 2018  
    Treatment     Services     Total     Treatment     Services     Total  
Domestic government   $ 29,420     $ 25,077     $ 54,497     $ 25,181     $ 9,630     $ 34,811  
Domestic commercial     10,601       2,724       13,325       10,969       2,521       13,490  
Foreign government     279       5,209       5,488       114       1,019       1,133  
Foreign commercial     64       85       149       7       98       105  
Total   $ 40,364     $ 33,095     $ 73,459     $ 36,271     $ 13,268     $ 49,539  

 

Contract Balances

 

The timing of revenue recognition, billings, and cash collections results in accounts receivable and unbilled receivables (contract assets). The Company’s contract liabilities consist of deferred revenues which represents advance payment from customers in advance of the completion of our performance obligation.

 

The following table represents changes in our contract assets and contract liabilities balances:

 

                Year-to-date     Year-to-date  
(In thousands)   December 31, 2019     December 31, 2018     Change ($)     Change (%)  
Contract assets                                
Account receivables, net of allowance   $ 13,178     $ 7,735     $ 5,443       70.4 %
Unbilled receivables - current     7,894       3,105       4,789       154.2 %
                                 
Contract liabilities                                
Deferred revenue   $ 5,456     $ 6,595     $ (1,139 )     (17.3 )%

 

During the twelve months ended December 31, 2019 and 2018, the Company recognized revenue of $10,354,000 and $8,052,000, respectively, related to untreated waste that was in the Company’s control as of the beginning of each respective year. Revenue recognized in each period related to performance obligations satisfied within the respective period.