v3.25.2
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2025
Accounting Policies [Abstract]  
Schedule of Other Receivables

Other receivables consisted of the following for the periods presented:

 

 

As of

 

 

 

June 30, 2025

 

 

December 31, 2024

 

Payroll tax withholding and exercise proceeds receivable

 

$

 

 

$

834

 

Construction receivable

 

 

3,632

 

 

 

4,584

 

Income tax receivable

 

 

296

 

 

 

1,864

 

Insurance receivable

 

 

5,622

 

 

 

4,250

 

Other

 

 

1,873

 

 

 

1,986

 

Total other receivables

 

$

11,423

 

 

$

13,518

 

 

Schedule of Prepaid and Other Current Assets

Prepaid expenses and other current assets consisted of the following for the periods presented:

 

 

As of

 

 

 

June 30, 2025

 

 

December 31, 2024

 

Spare parts

 

$

3,761

 

 

$

4,801

 

Prepaid insurance

 

 

2,809

 

 

 

2,658

 

Other

 

 

5,222

 

 

 

4,131

 

Total prepaid expenses and other current assets

 

$

11,792

 

 

$

11,590

 

Schedule of Inventory

Inventory consisted of the following for the periods presented:

 

 

As of

 

 

 

June 30, 2025

 

 

December 31, 2024

 

Chemical washing solutions

 

$

5,454

 

 

$

5,831

 

Other

 

 

71

 

 

 

14

 

Total inventory, gross

 

 

5,525

 

 

 

5,845

 

Reserve for obsolescence

 

 

(111

)

 

 

(117

)

Total inventory, net

 

$

5,414

 

 

$

5,728

 

Schedule of Composition of Revenue

The following table summarizes the composition of our net revenues for the periods presented:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Recognized over time

 

$

200,191

 

 

$

184,082

 

 

$

392,039

 

 

$

360,341

 

Recognized at a point in time

 

 

64,917

 

 

 

70,861

 

 

 

134,601

 

 

 

133,707

 

Other revenue

 

 

307

 

 

 

100

 

 

 

431

 

 

 

178

 

Net revenues

 

$

265,415

 

 

$

255,043

 

 

$

527,071

 

 

$

494,226

 

 

Schedule of Reconciliations of Numerators and Denominators of Basic and Diluted Earnings Per Share

Reconciliations of the numerators and denominators of the basic and diluted earnings per share calculations for the periods presented are as follows:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Numerator

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

28,595

 

 

$

22,091

 

 

$

55,595

 

 

$

38,728

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding - basic

 

 

325,561,496

 

 

 

319,415,156

 

 

 

324,884,649

 

 

 

317,626,972

 

Effect of potentially dilutive securities

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

3,721,922

 

 

 

7,509,205

 

 

 

4,046,601

 

 

 

10,097,192

 

Restricted stock units

 

 

2,538,733

 

 

 

1,399,443

 

 

 

2,721,188

 

 

 

1,428,419

 

Stock purchase rights

 

 

2,148

 

 

 

1,331

 

 

 

2,996

 

 

 

16,057

 

Weighted-average common shares outstanding - diluted

 

 

331,824,299

 

 

 

328,325,135

 

 

 

331,655,434

 

 

 

329,168,640

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share - basic

 

$

0.09

 

 

$

0.07

 

 

$

0.17

 

 

$

0.12

 

Earnings per share - diluted

 

$

0.09

 

 

$

0.07

 

 

$

0.17

 

 

$

0.12

 

Schedule of Antidilutive Shares Excluded from Computation of Diluted Earnings Per Share

The following potentially dilutive shares were excluded from the computation of diluted earnings per share for the periods presented because including them would have been antidilutive:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Stock options

 

 

4,864,949

 

 

 

4,153,264

 

 

 

4,894,707

 

 

 

3,909,744

 

Restricted stock units

 

 

1,409,548

 

 

 

1,336,924

 

 

 

704,777

 

 

 

668,462

 

Stock purchase rights

 

 

82,581

 

 

 

95,582

 

 

 

41,293

 

 

 

49,358