Business Segment, Geographic and Major Customer Information (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Schedule of financial information regarding reportable segments

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		Corporate and Other		Total
2023
Revenue from external customers
Products	$	15,095	$	1,620	$	—	$	16,715
Services	374		731		—		1,105
Total revenue from external customers	15,469		2,351		—		17,820
Revenue from related party							—
Products	32,345		2		—		32,347
Services	272		155		—		427
Total revenue from related parties	32,617		157		—		32,774
Gross profit	2,603		1,301		—		3,904
Change in fair value of Contract Consideration Convertible Notes Payable	(3,874)		—		—		(3,874)
Income (loss) from operations	3,795		129		(3,252)		672
Paid-in-kind interest on Contract Consideration Convertible Notes Payable	712		—		—		712
Depreciation	155		18		1		174
Additions to long-lived assets	—		135		—		135
2022
Revenue from external customers
Products	$	11,740	$	299	$	—	$	12,039
Services	371		414		—		785
Total revenue from external customers	12,111		713		—		12,824
Revenue from related party
Products	16,549		—		—		16,549
Services	—		—		—		—
Total revenue from related parties	16,549		—		—		16,549
Gross loss	(1,568)		(737)		—		(2,305)
Change in fair value of Contract Consideration Convertible Notes Payable	(17,158)		—		—		(17,158)
Loss from operations	14,944		(1,198)		(5,707)		8,039
Paid-in-kind interest on Contract Consideration Convertible Notes Payable	868		—		—		868
Paid-in-kind interest on convertible notes payable	—		—		466		466
Depreciation	166		15		1		182
Additions to long-lived assets	5		—		—		5

As of and for the six months ended June 30,	Chemistry Technologies		Data Analytics		Corporate and Other		Total
2023
Revenue from external customers
Products	$	23,654	$	3,562	$	—	$	27,216
Services	1,039		1,217		—		2,256
Total revenue from external customers	24,693		4,779		—		29,472
Revenue from related party							—
Products	68,611		2		—		68,613
Services	272		245		—		517
Total revenue from related parties	68,883		247		—		69,130
Gross profit	3,038		2,747		—		5,785
Change in fair value of Contract Consideration Convertible Notes Payable	(29,969)		—		—		(29,969)
Income (loss) from operations	27,174		587		(8,577)		19,184
Paid-in-kind interest on Contract Consideration Convertible Notes Payable	2,129		—		—		2,129
Paid-in-kind interest on convertible notes payable	—		—		155		155
Depreciation	312		36		1		349
Additions to long-lived assets	30		230		32		292
2022
Revenue from external customers
Products	$	20,650	$	1,091	$	—	$	21,741
Services	772		693		—		1,465
Total revenue from external customers	21,422		1,784		—		23,206
Revenue from related party
Products	19,046		—		—		19,046
Services	—		—		—		—
Total revenue from related parties	19,046		—		—		19,046
Gross loss	(2,231)		(553)		—		(2,784)
Change in fair value of Contract Consideration Convertible Notes Payable	(13,266)		—		—		(13,266)
Loss from operations	8,887		(2,006)		(9,126)		(2,245)
Paid-in-kind interest on Contract Consideration Convertible Notes Payable	1,026		—		—		1,026
Paid-in-kind interest on convertible notes payable	—		—		793		793
Depreciation	345		31		1		377
Additions to long-lived assets	5		—		—		5

Assets of the Company by reportable segments are as follows (in thousands):

	June 30, 2023		December 31, 2022
Chemistry Technologies	$	139,921	$	146,542
Data Analytics	7,382		5,645
Corporate and Other	10,727		12,623
Total assets	$	158,030	$	164,810

Schedule of revenue by geographic location

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

	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
U.S. (1)	$	48,725	$	25,955	$	94,851	$	36,289
UAE	1,509		3,139		2,912		4,450
Other countries	360		279		839		1,513
Total revenue	$	50,594	$	29,373	$	98,602	$	42,252

(1) Includes revenue from related party

Schedule of revenue by 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
2023
Customer A (Related Party)	$	32,774	64.8	%
2022
Customer A (Related Party)	$	16,549	52.2	%
Customer B	5,611		19.1	%

Six months ended June 30,	Revenue		% of Total Revenue
2023
Customer A (Related Party)	$	69,129	70.1	%
2022
Customer A (Related Party)	$	17,657	38.9	%
Customer B	8,218		19.5	%

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
Three months ended June 30,
2023
Supplier A	$	13,155	32.6	%
Supplier B	8,049		20.0	%
Supplier C	4,489		11.1	%
2022
Supplier A	7,576		31.9	%
Supplier B	4,036		17.0	%
Supplier C	2,679		11.3	%

	Expenditure		% of Total Expenditure
Six months ended June 30,
2023
Supplier A	$	30,109	36.4	%
Supplier B	15,194		18.4	%
Supplier C	8,993		10.9	%
2022
Supplier A	7,624		24.2	%
Supplier B	6,154		19.5%