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Segment Information (Tables)
6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Components of Segment Revenues and Adjusted EBITDA

Segment revenues and Adjusted EBITDA consisted of the following:

 

 

 

Three Months Ended June 30,

 

 

 

 

2023

 

 

2022

 

 

 

 

 

 

 

Segment

 

 

 

 

 

Segment

 

 

 

 

Segment

 

 

Adjusted

 

 

Segment

 

 

Adjusted

 

 

 

 

Revenues

 

 

EBITDA

 

 

Revenues

 

 

EBITDA(4)

 

 

Assessment, Permitting and Response

 

$

61,411

 

 

$

13,833

 

 

$

50,037

 

 

$

10,809

 

 

Measurement and Analysis

 

 

50,055

 

(1)

 

10,789

 

 

 

42,224

 

(1)

 

7,047

 

(3)

Remediation and Reuse

 

 

47,635

 

 

 

6,043

 

 

 

47,649

 

 

 

7,056

 

 

Total Operating Segments

 

 

159,101

 

 

 

30,665

 

 

 

139,910

 

 

 

24,912

 

 

Corporate and Other

 

 

 

 

 

(9,474

)

 

 

 

 

 

(8,399

)

 

Total

 

$

159,101

 

 

$

21,191

 

 

$

139,910

 

 

$

16,513

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30,

 

 

 

 

2023

 

 

2022

 

 

 

 

 

 

 

Segment

 

 

 

 

 

Segment

 

 

 

 

Segment

 

 

Adjusted

 

 

Segment

 

 

Adjusted

 

 

 

 

Revenues

 

 

EBITDA

 

 

Revenues

 

 

EBITDA(4)

 

 

Assessment, Permitting and Response

 

$

113,625

 

 

$

28,099

 

 

$

95,637

 

 

$

20,432

 

 

Measurement and Analysis

 

 

92,582

 

(2)

 

17,176

 

 

 

81,985

 

(2)

 

13,369

 

(3)

Remediation and Reuse

 

 

84,322

 

 

 

11,321

 

 

 

96,968

 

 

 

15,049

 

 

Total Operating Segments

 

 

290,529

 

 

 

56,596

 

 

 

274,590

 

 

 

48,850

 

 

Corporate and Other

 

 

 

 

 

(18,802

)

 

 

 

 

 

(15,886

)

 

Total

 

$

290,529

 

 

$

37,794

 

 

$

274,590

 

 

$

32,964

 

 

 

_____________________________________

(1) Includes revenue of $2.4 million and $3.4 million from the Discontinuing Specialty Lab, for the three months ended June 30, 2023 and June 30, 2022, respectively.

(2) Includes revenue of $3.9 million and $9.0 million from the Discontinuing Specialty Lab, for the six months ended June 30, 2023 and June 30, 2022, respectively.
(3)
Includes Adjusted EBITDA loss of $(0.9) million and Adjusted EBITDA of $0.4 million from the Discontinuing Specialty Lab for the three and six months ended June 30, 2022, respectively.

(4) Includes the add back of start-up losses and investment in new services of $0.9 million and $1.7 million for the three and six months ended June 30, 2022, respectively .

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 June 30,

 

 

For the Six Months
Ended June 30,

 

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

 

Total

 

$

21,191

 

 

$

16,513

 

 

$

37,794

 

 

$

32,964

 

 

Interest expense, net

 

 

(1,877

)

 

 

(1,518

)

 

 

(3,418

)

 

 

(2,610

)

 

Income tax expense

 

 

(151

)

 

 

(831

)

 

 

(1,518

)

 

 

(2,100

)

 

Depreciation and amortization

 

 

(11,398

)

 

 

(12,280

)

 

 

(21,953

)

 

 

(24,424

)

 

Stock-based compensation

 

 

(11,090

)

 

 

(10,932

)

 

 

(24,125

)

 

 

(21,357

)

 

Start-up losses and investment in new services

 

 

 

 

 

(885

)

 

 

 

 

 

(1,671

)

 

Acquisition costs

 

 

(2,696

)

 

 

(519

)

 

 

(3,471

)

 

 

(986

)

 

Fair value changes in financial instruments

 

 

865

 

 

 

407

 

 

 

(1,008

)

 

 

2,856

 

 

Fair value changes in business acquisition
   contingencies

 

 

(353

)

 

 

3,510

 

 

 

45

 

 

 

3,531

 

 

Expenses related to financing transactions

 

 

 

 

 

 

 

 

(4

)

 

 

(7

)

 

Discontinuing Specialty Lab

 

 

(1,583

)

(1)

 

 

 

 

(4,019

)

(1)

 

 

 

Other losses or expenses

 

 

(82

)

 

 

(1,216

)

(2)

 

(216

)

 

 

(1,483

)

(2)

Net loss

 

$

(7,174

)

 

$

(7,751

)

 

$

(21,893

)

 

$

(15,287

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

__________________________

(1) Amounts consist of operating losses before depreciation related to the Discontinuing Specialty Lab.

(2) Amounts include costs associated with the closing of a lab.