Annual report pursuant to Section 13 and 15(d)

Revenue

v3.21.1
Revenue
 12 Months Ended
Dec. 31, 2020
Revenue from Contract with Customer [Abstract]  
Revenue

NOTE 4

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
(In thousands)   Twelve Months Ended     Tweleve Months Ended  
    December 31, 2020     December 31, 2019  
    Treatment     Services     Total     Treatment     Services     Total  
Fixed price   $ 30,143     $ 8,970     $ 39,113     $ 40,364     $ 12,162     $ 52,526  
Time and materials     —       66,313       66,313       —       20,788       20,788  
Cost reimbursement     —       —       —       —       145       145  
Total   $ 30,143     $ 75,283     $ 105,426     $ 40,364     $ 33,095     $ 73,459  

 

Revenue by generator
(In thousands)   Twelve Months Ended     Twelve Months Ended  
    December 31, 2020     December 31, 2019  
    Treatment     Services     Total     Treatment     Services     Total  
Domestic government   $ 22,795     $ 68,237     $ 91,032     $ 29,420     $ 25,077     $ 54,497  
Domestic commercial     6,933       1,825       8,758       10,601       2,724       13,325  
Foreign government     415       5,135       5,550       279       5,209       5,488  
Foreign commercial     —        86       86       64       85       149  
Total   $ 30,143     $ 75,283     $ 105,426     $ 40,364     $ 33,095     $ 73,459  

 

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, 2020     December 31, 2019     Change ($)     Change (%)  
Contract assets                                
Account receivables, net of allowance   $ 9,659     $ 13,178     $ (3,519 )     (26.7 )%
Unbilled receivables - current     14,453       7,984       6,469       81.0 %
                                 
Contract liabilities                                
Deferred revenue   $ 4,614     $ 5,456     $ (842 )     (15.4 )%

 

During the twelve months ended December 31, 2020 and 2019, the Company recognized revenue of $8,094,000 and $10,354,000, 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.