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Business Segment, Geographic and Major Customer Information
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Business Segment, Geographic and Major Customer Information Business Segment, Geographic and Major Customer Information
Segment Information
Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the chief operating decision-maker in deciding how to allocate resources and assess performance. The operations of the Company are categorized into the following reportable segments: CT and DA.
Chemistry Technologies. The CT segment includes green specialty chemistries, logistics and technology services, which enable its customers to pursue improved efficiencies and performance throughout the life cycle of their wells, helping customers improve their environmental, social and governance (“ESG) and operational goals. This segment also includes a portfolio of specialty chemical products to address the long-term challenges of in the janitorial, sanitization, food services, and adjacent markets. Customers of the CT segment include major integrated oil and gas companies, oilfield services companies, independent oil and gas companies, national and state-owned oil companies, and international supply chain management companies.

Data Analytics. The DA segment, created in the second quarter of 2020 in conjunction with the acquisition of JP3 on May 18, 2020, includes the design, development, production, sale and support of equipment and services that create and provide valuable information on the composition and properties of energy customers’ hydrocarbon fluids. The company markets products and services that support in-line data analysis of hydrocarbon components and properties. Customers of the DA segment span across the entire oil and gas market, from upstream production to midstream facilities to refineries and distribution networks

Performance based upon a variety of criteria. The primary financial measure is segment operating income (loss). Various functions, including certain sales and marketing activities and general and administrative activities, are provided centrally by the corporate office. Costs associated with corporate office functions, other corporate income and expense items, and income taxes are not allocated to the reportable segment.
Summarized financial information of the reportable segments is as follows (in thousands):
As of and for the three months ended June 30,
Chemistry Technologies
Data Analytics (1)
Corporate and OtherTotal
2022
Revenue from external customers$12,111 $713 $— $12,824 
Revenue from related party16,549 — — 16,549 
Change in fair value of contract consideration convertible notes(17,158)— — (17,158)
Income (loss) from operations14,944 (1,198)(5,707)8,039 
Depreciation and amortization166 15 1 182 
Additions to long-lived assets5 — — 5 
2021
Revenue from external customers$7,688 $1,477 $— $9,165 
Revenue from related party— — — — 
Income (loss) from operations(3,819)(773)(2,869)(7,461)
Depreciation and amortization233 20 — 253 
Additions to long-lived assets13 — — 13 

As of and for the six months ended June 30,
Chemistry Technologies
Data Analytics (1)
Corporate and OtherTotal
2022
Revenue from external customers$21,422 $1,784 $— $23,206 
Revenue from related party19,046 — — 19,046 
Change in fair value of contract consideration convertible notes(13,266)— — (13,266)
Income (loss) from operations8,887 (2,006)(9,126)(2,245)
Depreciation and amortization345 31 1 377 
Additions to long-lived assets5 — — 5 
2021
Revenue from external customers$17,990 $2,945 $— $20,935 
Revenue from related party— — — — 
Income (loss) from operations(7,407)(1,067)(7,230)(15,704)
Depreciation and amortization524 35 1 560 
Additions to long-lived assets31 — — 31 

Assets of the Company by reportable segments are as follows (in thousands):
June 30, 2022December 31, 2021
Chemistry Technologies$127,398 $34,387 
Data Analytics4,787 7,329 
Corporate and Other31,286 8,528 
Total assets$163,471 $50,244 
The increase in Chemistry Technologies assets is primarily due to contact assets of $83.3 million.
Geographic Information
Revenue by country is based on the location where services are provided and products are sold. No individual countries other than the U.S. and the United Arab Emirates (“UAE”) accounted for more than 10% of revenue. Revenue by geographic location is as follows (in thousands):
 Three months ended June 30,Six months ended June 30,
 2022202120222021
U.S.$25,955 $6,869 $36,289 $16,530 
UAE3,139 1,319 4,450 2,422 
Other countries279 977 1,513 1,983 
Total revenue$29,373 $9,165 $42,252 $20,935 
Long-lived assets held in countries other than the U.S. are not considered material to the consolidated financial statements.
Major Customers
Revenue from major customers, as a percentage of consolidated revenue, is as follows (in thousands):
Three months ended June 30,Revenue% of Total Revenue
2022
Customer A (Related Party)$16,549 52.2 %
Customer B5,611 19.1 %
2021
Customer C$1,038 11.3 %
Customer D1,810 19.8 %

Six months ended June 30,Revenue% of Total Revenue
2022
Customer A (Related Party)$17,657 38.9 %
Customer B8,218 19.5 %
2021
Customer C$4,067 19.4 %
Customer D4,660 22.3 %
The majority of the Company’s revenue consists predominantly of customers within the oil and gas industry. Customers within the oil and gas industry include ProFrac and other oilfield services companies, integrated oil and natural gas companies, independent oil and natural gas companies, and state-owned national oil companies. The concentration with ProFrac and in the oil and gas industry increases credit and business risk.