Basis of Presentation and Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2022

The Company determined that disaggregating revenue into these categories achieves the disclosure objective of depicting how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.

Revenues for the three months ended March 31, 2022


(in thousands)
Region	North America (1)	EMEA (2)	Latin America (3)	Asia Pacific (4)	Total Revenues
Product
1-MCP based	$1,531	$6,567	$16,539	$6,114	$30,751
Fungicides, disinfectants and coatings	—	5,853	2,120	—	7,973
Other*	314	398	384	69	1,165
	$1,845	$12,818	$19,043	$6,183	$39,889

Pattern of Revenue Recognition
Products transferred at a point in time	$1,656	$12,431	$18,935	$6,140	$39,162
Services transferred over time	189	387	108	43	727
	$1,845	$12,818	$19,043	$6,183	$39,889

Revenues for the three months ended March 31, 2021


(in thousands)
Region	North America (1)	EMEA (2)	Latin America (3)	Asia Pacific (4)	Total Revenues
Product
1-MCP based	$1,764	$5,362	$18,741	$5,963	$31,830
Fungicides, disinfectants and coatings	14	4,546	1,547	—	6,107
Other*	156	400	451	48	1,055
	$1,934	$10,308	$20,739	$6,011	$38,992

Pattern of Revenue Recognition
Products transferred at a point in time	$1,767	$9,908	$20,627	$5,972	$38,274
Services transferred over time	167	400	112	39	718
	$1,934	$10,308	$20,739	$6,011	$38,992

*Other includes FreshCloud, technical services and sales-type equipment leases related to AgroFresh Fruit Protection.



(1)			North America includes the United States and Canada.
(2)			EMEA includes Europe, the Middle East and Africa.
(3)			Latin America includes Argentina, Brazil, Chile, Costa Rica, Colombia, Dominican Republic, Ecuador, Guatemala, Mexico, Peru and Uruguay.

(4)			Asia Pacific includes Australia, China, India, Japan, New Zealand, the Philippines, South Korea, Taiwan and Thailand.

Schedule of changes in contract assets and liabilities

The following table presents changes in the Company’s contract assets and liabilities during the three months ended March 31, 2022 and the year ended December 31, 2021:


(in thousands)	Balance at December 31, 2021	Additions	Deductions	Balance at March 31, 2022
Contract assets:
Unbilled revenue	$795	4,244	(2,587)	$2,452
Contract liabilities:
Deferred revenue	$635	1,766	(702)	$1,699


(in thousands)	Balance at December 31, 2020	Additions	Deductions	Balance at December 31, 2021
Contract assets:
Unbilled revenue	$1,484	17,617	(18,306)	$795
Contract liabilities:
Deferred revenue	$1,474	4,123	(4,962)	$635