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Revenue from Contracts with Customers (Tables)
3 Months Ended
Mar. 31, 2022
Revenue From Contract With Customer [Abstract]  
Summary of Revenue Disaggregated by Geographical Region and Source of Revenue

In the following tables, revenue is disaggregated by primary geographical region and source of revenue:

 

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

 

 

U.S.

 

 

International

 

 

Total

 

 

U.S.

 

 

International

 

 

Total

 

 

 

(In thousands)

 

Geographical region

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Asia

 

$

 

 

$

7,324

 

 

$

7,324

 

 

$

 

 

$

5,588

 

 

$

5,588

 

Canada

 

 

 

 

 

860

 

 

 

860

 

 

 

 

 

 

964

 

 

 

964

 

Europe

 

 

 

 

 

3,911

 

 

 

3,911

 

 

 

 

 

 

7,246

 

 

 

7,246

 

Latin America

 

 

 

 

 

1,606

 

 

 

1,606

 

 

 

 

 

 

1,544

 

 

 

1,544

 

U.S.

 

 

24,706

 

 

 

 

 

 

24,706

 

 

 

12,755

 

 

 

 

 

 

12,755

 

Total revenue

 

$

24,706

 

 

$

13,701

 

 

$

38,407

 

 

$

12,755

 

 

$

15,342

 

 

$

28,097

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Source of revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Energy industrial

 

$

17,650

 

 

$

12,489

 

 

$

30,139

 

 

$

12,662

 

 

$

14,887

 

 

$

27,549

 

Subsea projects

 

 

548

 

 

 

11

 

 

 

559

 

 

 

 

 

 

407

 

 

 

407

 

Research services

 

 

77

 

 

 

 

 

 

77

 

 

 

41

 

 

 

 

 

 

41

 

Thermal barrier

 

 

6,431

 

 

 

1,201

 

 

 

7,632

 

 

 

52

 

 

 

48

 

 

 

100

 

Total revenue

 

$

24,706

 

 

$

13,701

 

 

$

38,407

 

 

$

12,755

 

 

$

15,342

 

 

$

28,097

 

Summary of Changes in Contract Assets and Contract Liabilities

The following table presents changes in the Company’s contract assets and contract liabilities during the three months ended March 31, 2022:

 

 

 

Balance at

December 31,

2021

 

 

Additions

 

 

Deductions

 

 

Balance at

March 31,

2022

 

 

 

(In thousands)

 

Contract assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Subsea projects

 

$

1,448

 

 

$

965

 

 

$

(1,671

)

 

$

742

 

Research services

 

 

148

 

 

 

77

 

 

 

(209

)

 

 

16

 

Thermal barrier

 

 

235

 

 

 

 

 

 

 

 

 

235

 

Total contract assets

 

$

1,831

 

 

$

1,042

 

 

$

(1,880

)

 

$

993

 

Contract liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Energy industrial

 

$

1,321

 

 

$

782

 

 

$

(1,308

)

 

$

795

 

Subsea projects

 

 

 

 

 

954

 

 

 

(548

)

 

 

406

 

Prepayment liability

 

 

9,728

 

 

 

 

 

 

(4,728

)

 

 

5,000

 

Total contract liabilities

 

$

11,049

 

 

$

1,736

 

 

$

(6,584

)

 

$

6,201