v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
OPERATING ACTIVITIES    
Net loss $ (18,925) $ (25,000)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization expense 10,481 10,996
Non-cash interest expense, including interest expenses associated with debt issuance costs 383 289
Stock-based compensation 2,047 4,317
Change in fair value of warrant liability (2,411) 0
Non-cash lease expense 625 679
Accretion of asset retirement obligations 57 60
Impairment loss of energy storage systems 33 0
Gain on disposal and abandonment of property, plant and equipment (39) 0
Impairment loss of project assets 4 699
Impairment of assets held for sale 3,315 0
Provision for credit losses on accounts receivable 0 78
Other 37 63
Changes in operating assets and liabilities:    
Accounts receivable 5,008 24,351
Inventory (1,111) 2,084
Other assets 171 2,025
Contract origination costs, net (241) (324)
Project assets (4) (1,516)
Accounts payable (3,265) (10,538)
Accrued expenses and other liabilities (629) 3,861
Deferred revenue (3,063) (3,046)
Lease liabilities (790) (542)
Net cash (used in) provided by operating activities (8,317) 8,536
INVESTING ACTIVITIES    
Purchase of energy storage systems 0 (7)
Capital expenditures on internally-developed software (1,346) (3,583)
Net cash used in investing activities (1,346) (3,590)
FINANCING ACTIVITIES    
Repayment of financing obligations (2,805) (2,819)
Net cash used in financing activities (2,805) (2,819)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 139 158
Net (decrease) increase in cash, cash equivalents and restricted cash (12,329) 2,285
Cash, cash equivalents and restricted cash, beginning of year 50,701 58,085
Cash, cash equivalents and restricted cash, end of period 38,372 60,370
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Cash paid for interest 8,077 1,048
RECONCILIATION OF CASH, CASH EQUIVALENTS, AND RESTRICTED CASH WITHIN THE UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS TO THE AMOUNTS SHOWN IN THE STATEMENTS OF CASH FLOWS ABOVE:    
Cash and cash equivalents 36,586 58,584
Restricted cash included in other noncurrent assets 1,786 1,786
Total cash, cash equivalents, and restricted cash $ 38,372 $ 60,370

Source

10-Q XBRL Zip