Summary of Significant Accounting Policies (Tables)
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9 Months Ended |
Sep. 30, 2024 |
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| Accounting Policies [Abstract] |
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| Schedule of Other Receivables |
Other receivables consisted of the following for the periods presented:
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As of |
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September 30, 2024 |
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December 31, 2023 |
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Construction receivable |
$ |
7,660 |
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|
$ |
6,480 |
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Income tax receivable |
|
1,046 |
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|
|
3,051 |
|
Insurance receivable |
|
3,634 |
|
|
|
3,686 |
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Other |
|
3,082 |
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|
|
1,497 |
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Total other receivables |
$ |
15,422 |
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|
$ |
14,714 |
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| Schedule of Inventory |
Inventory consisted of the following for the periods presented:
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As of |
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September 30, 2024 |
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December 31, 2023 |
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Chemical washing solutions |
$ |
5,607 |
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|
$ |
9,135 |
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Reserve for obsolescence |
|
(116 |
) |
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|
(183 |
) |
Total inventory, net |
$ |
5,491 |
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|
$ |
8,952 |
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| Schedule of Composition of Revenue |
The following table summarizes the composition of our net revenues for the periods presented:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2024 |
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2023 |
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|
2024 |
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|
2023 |
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Recognized over time |
$ |
184,725 |
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|
$ |
167,670 |
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|
$ |
545,066 |
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|
$ |
489,294 |
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Recognized at a point in time |
|
64,441 |
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|
66,320 |
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|
198,148 |
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|
207,319 |
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Other revenue |
|
163 |
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|
|
86 |
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|
|
341 |
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|
|
317 |
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Net revenues |
$ |
249,329 |
|
|
$ |
234,076 |
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|
$ |
743,555 |
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|
$ |
696,930 |
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| Schedule of Reconciliations of Numerators and Denominators of Basic and Diluted Earnings Per Share |
Reconciliations of the numerators and denominators of the basic and diluted earnings per share calculations for the periods presented are as follows:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2024 |
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2023 |
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|
2024 |
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|
2023 |
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Numerator: |
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Net income |
$ |
22,342 |
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|
$ |
19,485 |
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$ |
61,070 |
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$ |
67,753 |
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Denominator: |
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Weighted-average common shares outstanding - basic |
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321,917,525 |
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312,883,586 |
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319,067,596 |
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309,850,600 |
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Effect of potentially dilutive securities: |
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Stock options |
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5,562,479 |
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15,573,984 |
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8,585,621 |
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17,912,009 |
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Restricted stock units |
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1,763,531 |
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289,840 |
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1,540,123 |
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|
463,687 |
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Employee stock purchase plan |
|
55,791 |
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|
97,159 |
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29,301 |
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|
39,582 |
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Weighted-average common shares outstanding - diluted |
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329,299,326 |
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328,844,569 |
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329,222,641 |
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328,265,878 |
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Earnings per share - basic |
$ |
0.07 |
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$ |
0.06 |
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$ |
0.19 |
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$ |
0.22 |
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Earnings per share - diluted |
$ |
0.07 |
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$ |
0.06 |
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$ |
0.19 |
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$ |
0.21 |
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| Schedule of Antidilutive Shares Excluded from Computation of Diluted Earnings Per Share |
The following potentially dilutive shares were excluded from the computation of diluted earnings per share for the periods presented because including them would have been antidilutive:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2024 |
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2023 |
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2024 |
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2023 |
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Stock options |
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5,209,783 |
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3,798,034 |
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4,343,090 |
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3,343,733 |
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Restricted stock units |
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- |
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|
8,049 |
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|
445,641 |
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|
199,888 |
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Employee stock purchase plan |
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- |
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- |
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32,905 |
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|
30,594 |
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