Concentrations |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Concentrations | |
| Concentrations | 16. Concentrations
Concentration Risks
Major Customers
For the three months ended June 30, 2026 and 2025, there were no customers that accounted for 10% or more of the Company’s revenues or accounts receivable.
For the six months ended June 30, 2026 one customer, Longfellow, accounted for $6.0 million, or 24.0%, of the revenues, $9.4 million, or 52.5%, of accounts receivable, and $51.9 million, or 94.7% of total current and noncurrent contract assets (see Note 8). For the six months ended June 30, 2025, there were no customers that accounted for 10% or more of the Company’s revenues or accounts receivable.
Major Suppliers
During the three months ended June 30, 2026, Supplier A accounted for purchases of $828,000, or 18.1%, of the Company’s purchases, and $56.4 million, or 89%, of total current and noncurrent accounts payable at June 30, 2026. Supplier A is the supplier for materials required for the Longfellow EPC project. During the three months ended June 30, 2026, Supplier B accounted for purchases of $2.4 million, or 54.0%, of purchases, and $2.5 million, or 3.9%, of accounts payable at June 30, 2026.
During the six months ended June 30, 2026, Supplier A accounted for purchases of $5.8 million, or 38.1%, of the Company’s purchases, and $56.4 million, or 89%, of total current and noncurrent accounts payable at June 30, 2026. Supplier A is the supplier for materials required for the Longfellow EPC project. During the six months ended June 30, 2026, Supplier B accounted for purchases of $4.8 million, or 31.9%, of purchases, and $2.5 million, or 3.9%, of accounts payable at June 30, 2026.
During the three months ended June 30, 2025, Supplier B accounted for purchases of $1.9 million, or 53.0%, of purchases, and $1.8 million, or 45.8%, of accounts payable at June 30, 2025, and Supplier C accounted for purchases of $1.2 million, or 33.0%, of purchases. The Company did not have an accounts payable balance owed to Supplier C at June 30, 2025.
During the six months ended June 30, 2025, Supplier B accounted for purchases of $4.2 million, or 23.0%, of purchases, and $1.8 million, or 45.8%, of accounts payable at June 30, 2025. |