Quarterly report pursuant to Section 13 or 15(d)

Revenue from Contracts with Customers (Tables)

v3.24.2.u1
Revenue from Contracts with Customers (Tables)
 6 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Summary of Disaggregation of Revenue
The following table presents our revenue disaggregated by line of business and reportable segment for the three months ended June 30, 2024:
North America Regions U.S. Federal Europe Alternative Fuels All Other Total
Project revenue $ 178,742  $ 68,080  $ 70,064  $ 13,884  $ (7) $ 330,763 
O&M revenue 8,511  14,628  895  2,136  —  26,170 
Energy assets 19,746  3,724  189  29,728  29  53,416 
Other 1,132  305  1,911  104  24,181  27,633 
Total revenues $ 208,131  $ 86,737  $ 73,059  $ 45,852  $ 24,203  $ 437,982 
The following table presents our revenue disaggregated by line of business and reportable segment for the three months ended June 30, 2023:
North America Regions U.S. Federal Europe Alternative Fuels All Other Total
Project revenue $ 124,584  $ 63,904  $ 40,399  $ —  $ —  $ 228,887 
O&M revenue 6,362  13,901  460  2,295  —  23,018 
Energy assets 19,391  2,164  452  28,021  (22) 50,006 
Other 1,434  50  2,214  —  21,465  25,163 
Total revenues $ 151,771  $ 80,019  $ 43,525  $ 30,316  $ 21,443  $ 327,074 
The following table presents our revenue disaggregated by line of business and reportable segment for the six months ended June 30, 2024:
North America Regions U.S. Federal Europe Alternative Fuels All Other Total
Project revenue $ 294,953  $ 111,559  $ 111,488  $ 17,047  $ —  $ 535,047 
O&M revenue 15,444  29,906  1,642  4,513  —  51,505 
Energy assets 33,500  5,653  360  57,028  29  96,570 
Other 2,519  509  3,691  123  46,424  53,266 
Total revenues $ 346,416  $ 147,627  $ 117,181  $ 78,711  $ 46,453  $ 736,388 
The following table presents our revenue disaggregated by line of business and reportable segment for the six months ended June 30, 2023:
North America Regions U.S. Federal Europe Alternative Fuels All Other Total
Project revenue $ 243,815  $ 109,453  $ 57,599  $ —  $ 1,250  $ 412,117 
O&M revenue 11,901  26,601  793  5,981  —  45,276 
Energy assets 33,798  3,240  971  52,674  95  90,778 
Other 2,799  281  3,258  —  43,607  49,945 
Total revenues $ 292,313  $ 139,575  $ 62,621  $ 58,655  $ 44,952  $ 598,116 

The following table presents information related to our revenue recognized over time:
Three Months Ended June 30, Six Months Ended June 30,
2024 2023 2024 2023
Percentage of revenue recognized over time 96% 95% 95% 94%
The remainder of our revenue is for products and services transferred at a point in time, at which point revenue is recognized.
We attribute revenues to customers based on the location of the customer. The following table presents information related to our revenues by geographic area:
Three Months Ended June 30, Six Months Ended June 30,
2024 2023 2024 2023
United States $ 349,500  $ 270,957  $ 588,599  $ 504,041 
Canada 15,416  13,566  30,596  30,800 
Europe 73,066  42,551  117,193  63,275 
Total revenues $ 437,982  $ 327,074  $ 736,388  $ 598,116 
Summary of Contract with Customer, Asset and Liability
The following tables provide information about receivables, contract assets and contract liabilities from contracts with customers:
  June 30, 2024 December 31, 2023
Accounts receivable, net $ 154,665  $ 153,362 
Accounts receivable retainage, net 39,225  33,826 
Contract Assets:
Costs and estimated earnings in excess of billings $ 651,748  $ 636,163 
Contract Liabilities:
Billings in excess of cost and estimated earnings $ 97,493  $ 52,903 
Billings in excess of cost and estimated earnings, non-current (1)
20,340  18,688 
Total contract liabilities $ 117,833  $ 71,591 
June 30, 2023 December 31, 2022
Accounts receivable, net $ 123,361  $ 174,009 
Accounts receivable retainage, net 37,803  38,057 
Contract Assets:
Costs and estimated earnings in excess of billings $ 575,113  $ 576,363 
Contract Liabilities:
Billings in excess of cost and estimated earnings $ 40,459  $ 34,796 
Billings in excess of cost and estimated earnings, non-current (1)
15,659  7,617 
Total contract liabilities $ 56,118  $ 42,413 
(1) Performance obligations that are expected to be completed beyond the next twelve months and are included in other liabilities in the condensed consolidated balance sheets.