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Business Segment, Geographic and Major Customer and Supplier Information
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Business Segment, Geographic and Major Customer and Supplier Information Business Segment, Geographic and Major Customer and Supplier 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:

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 ESG and operational goals. 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 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 is 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 years ended December 31,Chemistry Technologies
Data Analytics
Corporate and OtherTotal
2022
Revenue from external customers
Products$47,004 $3,903 $— $50,907 
Services1,956 1,481 — 3,437 
Total revenue from external customers48,960 5,384 — 54,344 
Revenue from related party
Products81,614 — — 81,614 
Services4 130 — 134 
Total revenue from related parties81,618 130 — 81,748 
Gross profit (loss)(7,317)617 — (6,700)
Change in fair value of contract consideration convertible notes(75)— — (75)
Loss from operations(14,729)(2,877)(17,815)(35,421)
Paid-in-kind interest on contract consideration convertible notes payable4,185 — — 4,185 
Paid-in-kind interest on convertible notes payable— — 1,771 1,771 
Depreciation 668 63 3 734 
Additions to long-lived assets56 134 231 421 
2021
Revenue from external customers
Product$32,984 $3,640 $— $36,624 
Service2,304 699 — 3,003 
Total revenue from external customers35,288 4,339 — 39,627 
Revenue from related party
Product3,641 — — 3,641 
Service— — — — 
Total revenue from related parties3,641 — — 3,641 
Gross profit (loss)5,430 (2,174)— 3,256 
Loss from operations (1)(5,466)(12,168)(13,822)(31,456)
Depreciation939 70 2 1,011 
Additions to long-lived assets39 — — 39 
(1) CT loss from operations includes a credit of $7.6 million from the release of accrued costs relating to the ADM settlement, see Note 13, “Commitments and Contingencies”.
Assets of the Company by reportable segments are as follows (in thousands):
December 31,
20222021
Chemistry Technologies$146,542 $34,387 
Data Analytics5,645 7,329 
Corporate and Other12,623 8,528 
Total assets$164,810 $50,244 
The increase in Chemistry Technologies assets is primarily due to contract asset of $79.7 million
Geographic Information
Revenue by country is based on the location where services are provided and products are sold. For the year ended December 31, 2022 no individual countries other than the U.S accounted for more than 10% of revenue. For the year ended December 31, 2021 no individual countries other than the U.S and United Arab Emirates (“UAE”) accounted for more than 10% of revenue. Revenue by geographic location is as follows (in thousands):
 Years ended December 31,
 20222021
U.S. (1)
$124,399 $33,187 
UAE9,257 4,512 
Other countries2,436 5,569 
Total revenue$136,092 $43,268 
(1) Includes revenue from related parties of $81,748 and $3,641, respectively.
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):
Revenue% of Total Revenue
Year ended December 31, 2022
Customer A (related party - ProFrac Services, LLC)$80,359 59.0 %
Customer B14,395 10.6 %
Year ended December 31, 2021
  
Customer B$11,632 26.0 %

The concentration with ProFrac Services, LLC and in the oil and gas industry increases credit, commodity and business risk.
Major Suppliers
Expenditure with major suppliers, as a percentage of consolidated supplier expenditure, is as follows (in thousands):
Expenditure% of Total Expenditure
Year ended December 31, 2022
Supplier A$25,057 27.7 %
Supplier B15,302 16.9 %
Supplier C15,255 16.8 %
Year ended December 31, 2021
Supplier C$3,643 17.0 %
Supplier D4,562 21.3 %