Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.22.2
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2022
Accounting Policies [Abstract]  
Schedule of Other Receivables

 

As of

 

 

June 30, 2022

 

 

December 31, 2021

 

Payroll tax withholding and exercise proceeds receivable

$

4

 

 

$

8,477

 

Construction receivable

 

7,643

 

 

 

5,574

 

Income tax receivable

 

2,535

 

 

 

4,935

 

Insurance receivable

 

2,653

 

 

 

2,594

 

Other

 

1,508

 

 

 

1,216

 

Total other receivables

$

14,343

 

 

$

22,796

 

Schedule of Inventory

Inventory consisted of the following for the periods presented:

 

As of

 

 

June 30, 2022

 

 

December 31, 2021

 

Chemical washing solutions

$

7,248

 

 

$

6,406

 

Other

 

-

 

 

 

52

 

Total inventory, gross

 

7,248

 

 

 

6,458

 

Reserve for obsolescence

 

(146

)

 

 

(124

)

Total inventory, net

$

7,102

 

 

$

6,334

 

Schedule of Composition of Revenue

The following table summarizes the composition of the Company’s net revenues for the periods presented:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Recognized over time

$

149,062

 

 

$

122,362

 

 

$

289,936

 

 

$

230,630

 

Recognized at a point in time

 

75,822

 

 

 

73,734

 

 

 

153,830

 

 

 

140,057

 

Other revenue

 

275

 

 

 

984

 

 

 

812

 

 

 

1,901

 

Net revenues

$

225,159

 

 

$

197,080

 

 

$

444,578

 

 

$

372,588

 

 

Schedule of Reconciliations of Numerators and Denominators of Basic and Diluted Net (Loss) Income Per Share Reconciliations of the numerators and denominators of the basic and diluted net income per share calculations for the periods presented are as follows:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

$

35,659

 

 

$

(110,300

)

 

$

71,147

 

 

$

(85,716

)

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding - basic

 

302,666,291

 

 

 

264,274,968

 

 

 

301,803,664

 

 

 

263,218,870

 

Effect of potentially dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

23,912,934

 

 

 

-

 

 

 

25,461,476

 

 

 

-

 

Restricted stock units

 

648,060

 

 

 

-

 

 

 

939,513

 

 

 

-

 

Employee stock purchase plan

 

2,246

 

 

 

-

 

 

 

1,123

 

 

 

-

 

Weighted-average common shares outstanding - diluted

 

327,229,531

 

 

 

264,274,968

 

 

 

328,205,776

 

 

 

263,218,870

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share - basic

$

0.12

 

 

$

(0.42

)

 

$

0.24

 

 

$

(0.33

)

Net income (loss) per share - diluted

$

0.11

 

 

$

(0.42

)

 

$

0.22

 

 

$

(0.33

)

Schedule of Antidilutive Shares Excluded from Computation of Diluted (Loss) Net Income Per Share

The following potentially dilutive shares were excluded from the computation of diluted net income per share for the periods presented because including them would have been antidilutive:

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Stock options

 

2,139,197

 

 

 

34,522,248

 

 

 

2,090,169

 

 

 

34,522,248

 

Restricted stock units

 

166,672

 

 

 

1,632,188

 

 

 

83,336

 

 

 

1,632,188

 

Employee stock purchase plan

 

96,212

 

 

 

-

 

 

 

48,106

 

 

 

-