Quarterly report pursuant to Section 13 or 15(d)

Revenue from Contracts with Customers

v3.23.1
Revenue from Contracts with Customers
3 Months Ended
Mar. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers

Note 4. Revenue from Contracts with Customers

Disaggregated revenue

Revenue disaggregated by reportable segment is presented in Note 19. Segments Information.

Contract balances

Contract assets relate to uncompleted Engineering contracts. As of March 31, 2023 and December 31, 2022, contract assets were $13.7 million and $19.7 million, respectively.

Contract liabilities primarily relate to upfront payments and consideration received from customers for data center hosting and uncompleted Engineering contracts. The following table presents changes in contract liabilities:

Three Months Ended

March 31, 2023

Beginning balance

$

29,197

Revenue recognized

(610)

Other changes in contract liabilities

(3,101)

Ending balance

$

25,486

Remaining performance obligation

Remaining performance obligations represent the transaction price of contracts for work that has not yet been performed. Amounts related to Bitcoin mining are not included because the Company elected the practical expedient to not disclose amounts related to contracts with a duration of one year or less.

    

2023

    

2024

    

2025

    

2026

    

Thereafter

    

Total

Data Center Hosting

 

$

2,089

 

$

2,362

 

$

2,362

 

$

2,362

 

$

10,408

 

$

19,583

Engineering

 

5,345

 

 

 

 

 

5,345

Other

73

97

97

97

194

558

Total contract liabilities

$

7,507

$

2,459

$

2,459

$

2,459

$

10,602

$

25,486