Summary of Significant Accounting Policies (Tables)
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6 Months Ended |
Jun. 30, 2025 |
Accounting Policies [Abstract] |
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Schedule of Other Receivables |
Other receivables consisted of the following for the periods presented:
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As of |
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June 30, 2025 |
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December 31, 2024 |
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Payroll tax withholding and exercise proceeds receivable |
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$ |
— |
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|
$ |
834 |
|
Construction receivable |
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|
3,632 |
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|
|
4,584 |
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Income tax receivable |
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|
296 |
|
|
|
1,864 |
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Insurance receivable |
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|
5,622 |
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|
|
4,250 |
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Other |
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|
1,873 |
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|
|
1,986 |
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Total other receivables |
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$ |
11,423 |
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|
$ |
13,518 |
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Schedule of Prepaid and Other Current Assets |
Prepaid expenses and other current assets consisted of the following for the periods presented:
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As of |
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June 30, 2025 |
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December 31, 2024 |
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Spare parts |
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$ |
3,761 |
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|
$ |
4,801 |
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Prepaid insurance |
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|
2,809 |
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|
2,658 |
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Other |
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|
5,222 |
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|
|
4,131 |
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Total prepaid expenses and other current assets |
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$ |
11,792 |
|
|
$ |
11,590 |
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|
Schedule of Inventory |
Inventory consisted of the following for the periods presented:
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As of |
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June 30, 2025 |
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December 31, 2024 |
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Chemical washing solutions |
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$ |
5,454 |
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$ |
5,831 |
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Other |
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|
71 |
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|
14 |
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Total inventory, gross |
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|
5,525 |
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|
|
5,845 |
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Reserve for obsolescence |
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|
(111 |
) |
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|
(117 |
) |
Total inventory, net |
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$ |
5,414 |
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|
$ |
5,728 |
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Schedule of Composition of Revenue |
The following table summarizes the composition of our net revenues for the periods presented:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2025 |
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|
2024 |
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|
2025 |
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|
2024 |
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Recognized over time |
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$ |
200,191 |
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|
$ |
184,082 |
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$ |
392,039 |
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$ |
360,341 |
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Recognized at a point in time |
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|
64,917 |
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|
70,861 |
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|
134,601 |
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|
133,707 |
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Other revenue |
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|
307 |
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|
100 |
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|
431 |
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|
178 |
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Net revenues |
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$ |
265,415 |
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$ |
255,043 |
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$ |
527,071 |
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$ |
494,226 |
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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:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2025 |
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2024 |
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2025 |
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|
2024 |
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Numerator |
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Net income |
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$ |
28,595 |
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$ |
22,091 |
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$ |
55,595 |
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$ |
38,728 |
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Denominator |
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Weighted-average common shares outstanding - basic |
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325,561,496 |
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319,415,156 |
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324,884,649 |
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317,626,972 |
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Effect of potentially dilutive securities |
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Stock options |
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3,721,922 |
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7,509,205 |
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4,046,601 |
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10,097,192 |
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Restricted stock units |
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2,538,733 |
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1,399,443 |
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2,721,188 |
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1,428,419 |
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Stock purchase rights |
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2,148 |
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1,331 |
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2,996 |
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|
16,057 |
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Weighted-average common shares outstanding - diluted |
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331,824,299 |
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328,325,135 |
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331,655,434 |
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329,168,640 |
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Earnings per share - basic |
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$ |
0.09 |
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$ |
0.07 |
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$ |
0.17 |
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$ |
0.12 |
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Earnings per share - diluted |
|
$ |
0.09 |
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$ |
0.07 |
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$ |
0.17 |
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$ |
0.12 |
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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:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2025 |
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|
2024 |
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|
2025 |
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|
2024 |
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Stock options |
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4,864,949 |
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4,153,264 |
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4,894,707 |
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3,909,744 |
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Restricted stock units |
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1,409,548 |
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1,336,924 |
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|
704,777 |
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|
668,462 |
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Stock purchase rights |
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|
82,581 |
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|
95,582 |
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41,293 |
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49,358 |
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