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Segment Information (Tables)
9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Components of Segment Revenues and Adjusted EBITDA

Segment revenues and Adjusted EBITDA consisted of the following:

 

 

 

Three Months Ended September 30,

 

 

 

2022

 

 

2021

 

 

 

 

 

 

Segment

 

 

 

 

 

Segment

 

 

 

Segment

 

 

Adjusted

 

 

Segment

 

 

Adjusted

 

 

 

Revenues

 

 

EBITDA

 

 

Revenues

 

 

EBITDA

 

Assessment, Permitting and Response

 

$

46,414

 

 

$

9,820

 

 

$

63,412

 

 

$

15,719

 

Measurement and Analysis

 

 

43,754

 

 

 

8,483

 

 

 

38,752

 

 

 

8,283

 

Remediation and Reuse

 

 

40,144

 

 

 

7,010

 

 

 

30,414

 

 

 

5,472

 

Total Operating Segments

 

 

130,312

 

 

 

25,313

 

 

 

132,578

 

 

 

29,474

 

Corporate and Other

 

 

 

 

 

(6,940

)

 

 

 

 

 

(7,987

)

Total

 

$

130,312

 

 

$

18,373

 

 

$

132,578

 

 

$

21,487

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30,

 

 

 

2022

 

 

2021

 

 

 

 

 

 

Segment

 

 

 

 

 

Segment

 

 

 

Segment

 

 

Adjusted

 

 

Segment

 

 

Adjusted

 

 

 

Revenues

 

 

EBITDA

 

 

Revenues

 

 

EBITDA

 

Assessment, Permitting and Response

 

$

142,051

 

 

$

30,252

 

 

$

209,379

 

 

$

46,379

 

Measurement and Analysis

 

 

125,739

 

 

 

21,852

 

 

 

111,309

 

 

 

22,634

 

Remediation and Reuse

 

 

137,112

 

 

 

22,059

 

 

 

81,931

 

 

 

12,262

 

Total Operating Segments

 

 

404,902

 

 

 

74,163

 

 

 

402,619

 

 

 

81,275

 

Corporate and Other

 

 

 

 

 

(22,826

)

 

 

 

 

 

(22,026

)

Total

 

$

404,902

 

 

$

51,337

 

 

$

402,619

 

 

$

59,249

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciliation of Segment Measure to Net Loss

Presented below is a reconciliation of the Company’s segment measure to net loss:

 

 

 

For the Three Months
Ended September 30,

 

 

For the Nine Months
Ended September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Total

 

$

18,373

 

 

$

21,487

 

 

$

51,337

 

 

$

59,249

 

Interest expense, net

 

 

(1,400

)

 

 

(1,722

)

 

 

(4,010

)

 

 

(11,208

)

Income tax benefit (expense)

 

 

208

 

 

 

(902

)

 

 

(1,892

)

 

 

(648

)

Depreciation and amortization

 

 

(11,504

)

 

 

(11,471

)

 

 

(35,928

)

 

 

(33,145

)

Stock-based compensation

 

 

(11,018

)

 

 

(2,365

)

 

 

(32,375

)

 

 

(6,587

)

Start-up losses and investment in new services

 

 

(1,278

)

 

 

(1,186

)

 

 

(2,949

)

 

 

(3,276

)

Acquisition costs

 

 

(368

)

 

 

(913

)

 

 

(1,354

)

 

 

(1,656

)

Fair value changes in financial instruments

 

 

1,808

 

 

 

(531

)

 

 

4,664

 

 

 

(1,651

)

Fair value changes in business acquisition
   contingencies

 

 

(59

)

 

 

 

 

 

3,472

 

 

 

(24,035

)

Expenses related to financing transactions

 

 

 

 

 

 

 

 

(7

)

 

 

(50

)

Other losses or expenses (1)

 

 

(482

)

 

 

(171

)

 

 

(1,965

)

 

 

(846

)

Net (loss) income

 

$

(5,720

)

 

$

2,226

 

 

$

(21,007

)

 

$

(23,853

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) In 2022, amounts include costs associated with the closing of a lab and severance costs related to a restructuring within our soil remediation business. In 2021, amounts include non-operational charges incurred due to the remeasurement of finance leases as a result of the adoption of ASC 842 and costs related to the implementation of a new ERP.