Summary of Significant Accounting Policies (Tables)
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6 Months Ended |
Jun. 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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June 30, 2024 |
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December 31, 2023 |
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Construction receivable |
$ |
7,097 |
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$ |
6,480 |
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Income tax receivable |
|
1,500 |
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|
3,051 |
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Insurance receivable |
|
4,118 |
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|
|
3,686 |
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Employee retention credit receivable |
|
5,189 |
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|
|
- |
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Other |
|
1,539 |
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|
1,497 |
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Total other receivables |
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19,443 |
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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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June 30, 2024 |
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December 31, 2023 |
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Chemical washing solutions |
$ |
5,979 |
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|
$ |
9,135 |
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Reserve for obsolescence |
|
(120 |
) |
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|
(183 |
) |
Total inventory, net |
$ |
5,859 |
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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 June 30, |
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Six Months Ended June 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 |
$ |
184,082 |
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|
$ |
164,733 |
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|
$ |
360,341 |
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|
$ |
321,624 |
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Recognized at a point in time |
|
70,861 |
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|
72,029 |
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133,707 |
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|
140,999 |
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Other revenue |
|
100 |
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|
132 |
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|
178 |
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|
|
231 |
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Net revenues |
$ |
255,043 |
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|
$ |
236,894 |
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|
$ |
494,226 |
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|
$ |
462,854 |
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| Schedule of Reconciliations of Numerators and Denominators of Basic and Diluted Net 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:
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Three Months Ended June 30, |
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Six Months Ended June 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 |
$ |
22,091 |
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|
$ |
27,132 |
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$ |
38,728 |
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$ |
48,268 |
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Denominator: |
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Weighted-average common shares outstanding - basic |
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319,415,156 |
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309,314,858 |
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317,626,972 |
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308,308,972 |
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Effect of potentially dilutive securities: |
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Stock options |
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7,509,205 |
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18,363,467 |
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10,097,192 |
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19,081,022 |
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Restricted stock units |
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1,399,443 |
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603,008 |
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1,428,419 |
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|
550,611 |
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Employee stock purchase plan |
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1,331 |
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|
2,020 |
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16,057 |
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|
10,794 |
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Weighted-average common shares outstanding - diluted |
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328,325,135 |
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328,283,353 |
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329,168,640 |
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327,951,399 |
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Net income per share - basic |
$ |
0.07 |
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$ |
0.09 |
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$ |
0.12 |
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$ |
0.16 |
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Net income per share - diluted |
$ |
0.07 |
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$ |
0.08 |
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$ |
0.12 |
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$ |
0.15 |
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| Schedule of Antidilutive Shares Excluded from Computation of Diluted 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:
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Three Months Ended June 30, |
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Six Months Ended June 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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4,153,264 |
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3,555,410 |
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3,909,744 |
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3,116,583 |
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Restricted stock units |
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1,336,924 |
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|
235,216 |
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668,462 |
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|
295,808 |
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Employee stock purchase plan |
|
95,582 |
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|
88,163 |
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|
49,358 |
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|
45,891 |
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