Revenue from Contracts with Customers

6 Months Ended

Jun. 30, 2025

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

13.REVENUE FROM CONTRACTS WITH CUSTOMERS

As of June 30, 2025 and December 31, 2024, the Company had $307,000 and $689,000 of contract liabilities and no contract assets, respectively. A contract liability would typically arise when an advance or deposit is received from a customer before the Company recognizes revenue. In practice, this is rare as it would require a customer to make a payment prior to a performance obligation being satisfied. When such situations do arise, the Company maintains a deferred revenue liability until the time a performance obligation has been satisfied. The Company recognized $689,000 of revenue in the first six months of 2025 from pre-existing contract liabilities at December 31, 2024.

In addition, during 2020, the Company recorded $10,709,000 of long-term deferred revenue associated with a payment received to defray the cost of capital expenditures necessary to service a customer’s future product needs. At June 30, 2025, $3,323,000 was classified as long-term and $2,216,000 was classified as short-term. This deferred revenue is being recognized over the period of the contract and $5,170,000 of revenue has been recognized from the beginning of the contract term through June 30, 2025.

The tables below provide a geographic disaggregation of net sales for the three and six months ended June 30, 2025 and 2024. The Company’s business segmentation by geographic region most effectively captures the nature and economic characteristics of the Company’s revenue streams impacted by economic factors.

(In thousands)	For the Three Months Ended June 30, 2025
Geographic Market	Surfactants		Polymers		Specialty		Total
North America	$	234,364	$	88,251	$	16,833	$	339,448
Europe		74,605		63,296		3,514		141,415
Latin America		90,527		204		135		90,866
Asia		11,960		11,000		—		22,960
Total	$	411,456	$	162,751	$	20,482	$	594,689

(In thousands)	For the Six Months Ended June 30, 2025
Geographic Market	Surfactants		Polymers		Specialty		Total
North America	$	486,099	$	161,044	$	30,297	$	677,440
Europe		156,203		124,438		6,781		287,422
Latin America		173,291		500		206		173,997
Asia		26,200		22,885		—		49,085
Total	$	841,793	$	308,867	$	37,284	$	1,187,944

(In thousands)	For the Three Months Ended June 30, 2024
Geographic Market	Surfactants		Polymers		Specialty		Total
North America	$	220,520	$	79,828	$	15,395	$	315,743
Europe		63,460		67,401		1,322		132,183
Latin America		83,569		326		136		84,031
Asia		12,246		12,202		—		24,448
Total	$	379,795	$	159,757	$	16,853	$	556,405

(In thousands)	For the Six Months Ended June 30, 2024
Geographic Market	Surfactants		Polymers		Specialty		Total
North America	$	450,110	$	149,637	$	28,641	$	628,388
Europe		134,238		131,278		3,157		268,672
Latin America		161,437		743		145		162,325
Asia		24,830		23,607		—		48,437
Total	$	770,615	$	305,265	$	31,943	$	1,107,823