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Segment Information
6 Months Ended
Jun. 30, 2022
Segment Information [Abstract]  
Segment Information
Note 15 - Segment Information

We have two reportable business segments. The Performance Improvement Solutions segment provides simulation, training and engineering products and services delivered across the breadth of industries we serve. Solutions include simulation for both training and engineering applications. Example engineering services include, but are not limited to, plant design verification and validation, thermal performance evaluation and optimization programs, and engineering programs for plants for ASME code and ASME Section XI. The Company provides these services across all market segments through our Performance, True North consulting, and DP Engineering subsidiaries. Example training applications include turnkey and custom training services. Contract terms are typically less than two years.

Workforce Solutions segment provides specialized workforce solutions primarily to the nuclear industry, working at clients’ facilities. This business is managed through our Hyperspring and Absolute subsidiaries. The business model, management focus, margins and other factors clearly separate this business line from the rest of the GSE product and service portfolio.

The following table sets forth the revenue and operating results attributable to each reportable segment and includes a reconciliation of segment revenue to consolidated revenue and operating results to consolidated income before income taxes. Inter-segment revenue is eliminated in consolidation and is not significant:

   
Three months ended
   
Six months ended
 
(in thousands)
 
June 30, 2022
   
June 30, 2021
   
June 30, 2022
   
June 30, 2021
 
                         
Revenue:
                       
Performance
 
$
7,953
   
$
6,862
   
$
14,350
   
$
13,943
 
   Workforce Solutions
   
4,792
     
6,660
     
10,670
     
12,683
 
Total revenue
   
12,745
     
13,522
     
25,020
     
26,626
 
                                 
Operating loss
                               
   Performance
   
(1,713
)
   
(1,131
)
   
(4,108
)
   
(2,534
)
   Workforce Solutions
   
(10
)
   
(230
)
   
(169
)
   
(1,014
)
                                 
Operating loss
   
(1,723
)
   
(1,361
)
   
(4,277
)
   
(3,548
)
                                 
Interest expense, net
   
(358
)
   
(49
)
   
(506
)
   
(103
)
Change in fair value of derivative instruments, net    
695
     
-
     
114
     
-
 
Other (loss) income, net
   
(72
)
   
4,637
     
(56
)
   
4,638
 
(Loss) income before income taxes
 
$
(1,458
)
 
$
3,227
   
$
(4,725
)
 
$
987