Business Segment, Geographic and Major Customer and Supplier Information (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of financial information regarding reportable segments

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 Other		Total
2022
Revenue from external customers
Products	$	47,004	$	3,903	$	—	$	50,907
Services	1,956		1,481		—		3,437
Total revenue from external customers	48,960		5,384		—		54,344
Revenue from related party
Products	81,614		—		—		81,614
Services	4		130		—		134
Total revenue from related parties	81,618		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 payable	4,185		—		—		4,185
Paid-in-kind interest on convertible notes payable	—		—		1,771		1,771
Depreciation	668		63		3		734
Additions to long-lived assets	56		134		231		421

2021
Revenue from external customers
Product	$	32,984	$	3,640	$	—	$	36,624
Service	2,304		699		—		3,003
Total revenue from external customers	35,288		4,339		—		39,627
Revenue from related party
Product	3,641		—		—		3,641
Service	—		—		—		—
Total revenue from related parties	3,641		—		—		3,641
Gross profit (loss)	5,430		(2,174)		—		3,256
Loss from operations (1)	(5,466)		(12,168)		(13,822)		(31,456)
Depreciation	939		70		2		1,011
Additions to long-lived assets	39		—		—		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,
	2022		2021
Chemistry Technologies	$	146,542	$	34,387
Data Analytics	5,645		7,329
Corporate and Other	12,623		8,528
Total assets	$	164,810	$	50,244

Schedule of revenue by geographic location

Revenue by geographic location is as follows (in thousands):


	Years ended December 31,
	2022		2021
U.S. (1)	$	124,399	$	33,187
UAE	9,257		4,512
Other countries	2,436		5,569
Total revenue	$	136,092	$	43,268

(1) Includes revenue from related parties of $81,748 and $3,641, respectively.

Schedule of revenue by 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 B	14,395		10.6	%


Year ended December 31, 2021
Customer B	$	11,632	26.0	%

Schedule of expenditure with major suppliers by reporting segments

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 B	15,302		16.9	%
Supplier C	15,255		16.8	%


Year ended December 31, 2021
Supplier C	$	3,643	17.0	%
Supplier D	4,562		21.3	%