Revenue, Unearned Revenue and Unbilled Accounts Receivable |
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| Revenue, Unearned Revenue and Unbilled Accounts Receivable | Note 6 – Revenue, Unearned Revenue and Unbilled Accounts Receivable
Revenue
The following is a summary of our revenues by type for the years ended December 31, 2025 and 2024:
Unearned Revenue
The following is a summary of our unearned revenue activity for the years ended December 31, 2025 and 2024:
At December 31, 2025, we anticipate recognizing approximately $313,000 of unearned revenue in the following fiscal year which has been presented as a current liability at December 31, 2025. The remaining balance of $30,000 has been classified as a long-term liability as the timing of revenue recognition is unknown.
Unbilled Accounts Receivable
The following is a summary of our unbilled accounts receivable activity during the years ended December 31, 2025 and 2024:
As discussed in Note 2, we anticipated delivering the AirSCWO equipment to OC San during the year ended December 31, 2025. Due to the delays we have encountered in delivering the equipment, we reassessed the variable consideration at December 31, 2025. The changes in facts and circumstances have resulted in us fully constraining the variable consideration at December 31, 2025. This resulted in the reduction of unbilled accounts receivable and reduction in equipment revenue in the amount of approximately $1.9 million. |
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