Revenue Recognition |
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| Revenue Recognition | Revenue Recognition The Company is in the business of developing geologic repository technology for the purpose of nuclear waste storage or disposal activities, including any related consulting services for such activities. Disaggregation of Revenue The Company’s business segments are organized based on the nature and economic characteristics of our services, ensuring meaningful disaggregation of each segment’s operational results. The following tables provide a detailed breakdown of our revenue: Revenue by Contract Type (in thousands)
Contract Balances The timing of revenue recognition and billings results in unbilled receivables (contract assets). The Company’s contract liabilities consist of deferred revenues which represent advance payments from customers in advance of the completion of our performance obligations. The following table represents changes in our contract assets. Our contract assets as of June 30, 2026 relate to various customers for nuclear waste disposal services which are expected to be completed in 2026.
Revenue recognized in each period relates to performance obligations satisfied within the respective period. The Company has no contract liabilities as of June 30, 2026 and $150 thousand as of December 31, 2025. Allowance for Credit Losses An allowance of $124 thousand and $118 thousand has been recorded as of June 30, 2026 and December 31, 2025, respectively.
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