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Segment Information (Tables)
 9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Components of Segment Revenues and Adjusted EBITDA

Segment revenues and Adjusted EBITDA for the three and nine months ended September 30, 2020 and September 30, 2019 were as follows:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

 

 

 

 

 

 

Segment

 

 

 

 

 

 

Segment

 

 

 

 

 

 

Segment

 

 

 

 

 

 

Segment

 

 

 

Segment

 

 

Adjusted

 

 

Segment

 

 

Adjusted

 

 

Segment

 

 

Adjusted

 

 

Segment

 

 

Adjusted

 

 

 

Revenues

 

 

EBITDA

 

 

Revenues

 

 

EBITDA

 

 

Revenues

 

 

EBITDA

 

 

Revenues

 

 

EBITDA

 

Assessment, Permitting and Response

 

$

26,593

 

 

$

8,230

 

 

$

5,413

 

 

$

1,695

 

 

$

49,768

 

 

$

14,665

 

 

$

15,017

 

 

$

5,693

 

Measurement and Analysis

 

 

39,770

 

 

 

11,226

 

 

 

35,672

 

 

 

7,691

 

 

 

113,130

 

 

 

30,422

 

 

 

98,521

 

 

 

19,761

 

Remediation and Reuse

 

 

18,342

 

 

 

2,012

 

 

 

16,538

 

 

 

2,400

 

 

 

56,604

 

 

 

6,495

 

 

 

52,440

 

 

 

7,317

 

Total Operating Segments

 

 

84,705

 

 

 

21,468

 

 

 

57,623

 

 

 

11,786

 

 

 

219,502

 

 

 

51,582

 

 

 

165,978

 

 

 

32,771

 

Corporate and Other

 

 

—

 

 

 

(4,762

)

 

 

—

 

 

 

(3,567

)

 

 

—

 

 

 

(15,425

)

 

 

—

 

 

 

(10,935

)

Total

 

$

84,705

 

 

$

16,706

 

 

$

57,623

 

 

$

8,219

 

 

$

219,502

 

 

$

36,157

 

 

$

165,978

 

 

$

21,836

 
Reconciliation of Segment Measure to Loss Before Benefit from Income Taxes

Presented below is a reconciliation of the Company’s segment measure to loss before benefit from income taxes for the three and nine months ended September 30, 2020 and September 30, 2019:

 

 

 

For the Three Months

Ended September 30,

 

 

For the Nine Months

Ended September 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Total

 

$

16,706

 

 

$

8,219

 

 

$

36,157

 

 

$

21,836

 

Interest expense, net

 

 

(3,043

)

 

 

(2,130

)

 

 

(10,896

)

 

 

(4,590

)

Income tax (expense) benefit

 

 

(3,348

)

 

 

412

 

 

 

1,563

 

 

 

1,308

 

Depreciation and amortization

 

 

(9,740

)

 

 

(7,412

)

 

 

(27,084

)

 

 

(20,262

)

Stock-based compensation

 

 

(1,149

)

 

 

(1,055

)

 

 

(3,439

)

 

 

(3,577

)

Start-up losses and investment in new services

 

 

(602

)

 

 

(634

)

 

 

(1,283

)

 

 

(1,091

)

Acquisition costs

 

 

(6

)

 

 

(1,278

)

 

 

(3,767

)

 

 

(2,350

)

Fair value changes in contingent put option

 

 

26,265

 

 

 

—

 

 

 

19,240

 

 

 

—

 

Fair value changes in warrant options

 

 

(9,311

)

 

 

(2,510

)

 

 

(9,312

)

 

 

(4,059

)

Fair value changes in compound embedded option

 

 

(26,664

)

 

 

—

 

 

 

(27,420

)

 

 

—

 

Fair value changes in business acquisitions contingent consideration

 

 

(13,404

)

 

 

(256

)

 

 

(17,387

)

 

 

670

 

Short term purchase accounting fair value adjustment

   to deferred revenue

 

 

—

 

 

 

—

 

 

 

(243

)

 

 

—

 

IPO preparation costs and IPO related bonuses

 

 

(6,378

)

 

 

(20

)

 

 

(6,908

)

 

 

(105

)

Discontinued services (i)

 

 

(30

)

 

 

—

 

 

 

(7,526

)

 

 

—

 

Expenses related to financing transactions

 

 

—

 

 

 

—

 

 

 

(277

)

 

 

—

 

Other expenses

 

 

(33

)

 

 

(19

)

 

 

(179

)

 

 

(27

)

Net loss

 

$

(30,737

)

 

$

(6,683

)

 

$

(58,761

)

 

$

(12,247

)

 

(i)During the first quarter of 2020, the Company determined to reduce the footprint of its environmental lab in Berkeley, California, and to exit its non-specialized municipal water engineering service line and its food waste biogas engineering service line. As a part of discontinuing service lines, the Company made the decision to book an additional bad debt reserve related to the uncertainty around the ability to collect on receivables related to these service lines (Note 3). It was determined that the discontinuation of these service lines did not represent a strategic shift that had (or will have) a major effect on the Company’s operations and financial results therefore did not meet the requirements to be classified as discontinued operations.