Disaggregation of Revenue and Contract Balances

6 Months Ended

Jun. 30, 2022

Disaggregation Of Revenue [Abstract]

Disaggregation of Revenue and Contract Balances

5. Disaggregation of Revenue and Contract Balances

The Company disaggregates revenues by contract type, see Revenue Recognition in Note 2 for further details. For the three and six months ended June 30, 2022, the Company derived 93.7% and 94.1% of its revenue from contracts classified as lump sum, and 6.3% and 5.9% of its revenue from exclusively time and material contracts, respectively. The Company had approximately $165.8 million in remaining performance obligations as of June 30, 2022 of which it expects to recognize approximately 90.8% within the next twelve months and the remaining 9.2% thereafter.

Disaggregated revenues by contract type were as follows (in thousands):

	For the Three Months Ended June 30,								For the Six Months Ended June 30,
	2022				2021				2022				2021
Fixed fee	$	58,488	93.7	%	$	33,456	91.6	%	$	108,074	94.1	%	$	64,829	94.9	%
Time-and-materials		3,911	6.3	%		3,068	8.4	%		6,786	5.9	%		3,497	5.1	%
Gross contract revenue	$	62,399	100.0	%	$	36,524	100.0	%	$	114,860	100.0	%	$	68,326	100.0	%

The Company recognized $1.1 and $2.5 million of revenue for the three and six months ended June 30, 2022, which was included in the contract liabilities balance as of December 31, 2021, and $0.9 and $1.2 million of revenue for the three and six months ended June 30, 2021 which was included in the contract liabilities balance as of December 31, 2020.