Quarterly report pursuant to Section 13 or 15(d)

Revenue from Contracts with Customers

v3.23.2
Revenue from Contracts with Customers
6 Months Ended
Jun. 30, 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. Segment Information.

Contract balances

Contract assets relate to uncompleted Engineering contracts. As of June 30, 2023 and December 31, 2022, contract assets were $19.1 million and $19.7 million, respectively.

Contract liabilities primarily relate to upfront payments and consideration received for Data Center Hosting services and uncompleted Engineering contracts. The following table presents changes in contract liabilities and deferred revenue:

Six Months Ended

June 30, 2023

Beginning balance

$

29,197

Revenue recognized

(8,763)

Other changes in contract liabilities

2,206

Ending balance

$

22,640

Remaining performance obligation

The following table presents the Company’s remaining performance obligations, which represent the transaction price of contracts for work that has not yet been performed.

    

2023

    

2024

    

2025

    

2026

2027

    

Thereafter

    

Total

Data Center Hosting

 

$

1,394

 

$

2,362

 

$

2,362

 

$

2,362

$

2,362

 

$

8,147

 

$

18,989

Engineering

 

3,117

 

 

 

 

 

3,117

Other

49

97

97

97

97

97

534

Total contract liabilities

$

4,560

$

2,459

$

2,459

$

2,459

$

2,459

$

8,244

$

22,640