Company: BWNB
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001630805-25-000090
Chunk: 131

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 131
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 environmental and auxiliary equipment. A performance obligation is a contractual promise to transfer a distinct product or service to the customer. A contract's transaction price is allocated to each distinct performance obligation and is recognized as revenue when (point in time) or as (over time) the performance obligation is satisfied.Revenue from products and services transferred to customers at a point in time, which includes certain aftermarket parts and services, accounted for 7% and 7% of revenue for the three months ended September 30, 2025 and 2024, and 6% and 8% of revenue for the nine months ended September 30, 2025 and 2024, respectively. Revenue from products and services transferred to customers over time, which primarily relates to customized, engineered solutions and construction services, accounted for 93% and 93% of revenue for the three months ended September 30, 2025 and 2024, respectively, and 94% and 92% of revenue for the nine months ended September 30, 2025 and 2024, respectively.Refer to Note 5 to the Condensed Consolidated Financial Statements for further disaggregation of revenue.Contract BalancesThe following represents the components of Accounts receivable - trade, net, Contracts in progress and Advance billings on contracts included in the Condensed Consolidated Balance Sheets. We are also including accrued contract losses included in Other accrued liabilities in the Condensed Consolidated Balance Sheets.(in thousands)September 30, 2025December 31, 2024$ Change% ChangeAccounts receivable - trade, net$101,662 $94,509 $7,153 8 %Contracts in progress$70,757 $79,392 $(8,635)(11)%Advance billings on contracts$79,439 $57,814 $21,625 37 %Accrued contract losses$1 $217 $(216)(100)%(in thousands)September 30, 2024December 31, 2023$ Change% ChangeAccounts receivable - trade, net$90,026 $80,474 $9,552 12 %Contracts in progress$68,339 $47,454 $20,885 44 %Advance billings on contracts$37,553 $60,280 $(22,727)(38)%Accrued contract losses$42 $46 $(4)(9)%For the nine months ended September