Revenue (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of disaggregation of revenue

The following table provides information about disaggregation of revenue (in thousands):


Major products/services lines
		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2023			2022			2023			2022
Sales of fuel cell systems		$	72,181		$	33,411		$	101,033		$	70,940
Sales of hydrogen infrastructure			58,647			32,414			107,515			59,502
Sales of electrolyzers			6,966			3,675			46,998			7,734
Sales of engineered equipment			8,819			28,556			16,572			50,524
Services performed on fuel cell systems and related infrastructure			8,701			8,822			17,798			17,062
Power Purchase Agreements			16,130			11,169			24,067			21,206
Fuel delivered to customers and related equipment			17,878			14,472			28,020			27,900
Sales of cryogenic equipment and other			69,673			18,177			126,262			36,380
Other			1,187			571			2,203			822
Net revenue		$	260,182		$	151,267		$	470,468		$	292,070

Schedule of receivables, contract assets and contract liabilities from contracts with customers

The following table provides information about receivables, contract assets and contract liabilities from contracts with customers (in thousands):


		June 30,			December 31,
		2023			2022
Accounts receivable		$	216,645		$	129,450
Contract assets			124,585			104,287
Deferred revenue and contract liabilities			251,736			229,898

Schedule of changes in contract assets and the contract liabilities

Significant changes in the contract assets and the contract liabilities balances during the period are as follows (in thousands):


Contract assets
		June 30,			December 31,
		2023			2022
Transferred to receivables from contract assets recognized at the beginning of the period		$	(34,966)		$	(33,394)
Contract assets related to warrants			6,510			26,455
Impairment			(9,799)			—
Revenue recognized and not billed as of the end of the period			58,553			72,469
Net change in contract assets		$	20,298		$	65,530


Deferred revenue and contract liabilities
		June 30,			December 31,
		2023			2022
Increases due to cash received, net of amounts recognized as revenue during the period		$	137,526		$	200,347
Contract liabilities assumed as part of acquisitions			—			10,011
Revenue recognized that was included in the contract liability balance as of the beginning of the period			(115,688)			(163,550)
Net change in deferred revenue and contract liabilities		$	21,838		$	46,808

Schedule of Estimated future revenue

The following table includes estimated revenue included in the backlog expected to be recognized in the future (sales of fuel cell systems, equipment, and hydrogen installations are expected to be recognized as revenue within one year; sales of electrolyzers are expected to be recognized as revenue within two years; sales of services, Power Purchase Agreements (“PPAs”), and fuel are expected to be recognized as revenue over five to ten years) related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period, including provision for common stock warrants (in thousands):


		June 30,
		2023
Sales of fuel cell systems		$	65,210
Sales of hydrogen installations and other infrastructure			19,311
Sales of electrolyzers			224,301
Sales of engineered equipment			19,210
Services performed on fuel cell systems and related infrastructure			124,765
Power Purchase Agreements			402,755
Fuel delivered to customers and related equipment			95,184
Sales of cryogenic equipment			120,701
Total estimated future revenue		$	1,071,437