Revenue (Tables)

9 Months Ended

Sep. 30, 2022

Revenue

Schedule of disaggregation of revenue

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

Major products/services lines
	Three months ended				Nine months ended
	September 30				September 30
	2022		2021		2022		2021
Sales of fuel cell systems	$	75,919	$	67,032	$	146,859	$	152,620
Sales of hydrogen infrastructure		37,139		48,967		96,641		109,429
Sales of electolyzers		6,842		—		14,576		—
Sales of engineered equipment		25,556		—		76,080		—
Services performed on fuel cell systems and related infrastructure		8,406		6,677		25,468		18,397
Power Purchase Agreements		9,524		9,321		30,730		25,508
Fuel delivered to customers and related equipment		12,389		11,556		40,289		33,804
Sales of cryogenic equipment		12,529		—		48,909		—
Other		324		369		1,146		679
Net revenue	$	188,628	$	143,922	$	480,698	$	340,437

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):

	September 30,		December 31,
	2022		2021
Accounts receivable	$	95,472	$	92,675
Contract assets		70,879		38,757
Contract liabilities		189,145		183,090

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
	September 30, 2022		December 31, 2021
Transferred to receivables from contract assets recognized at the beginning of the period	$	(15,504)	$	(14,638)
Contract assets assumed as part of acquisition		—		9,960
Contract assets related to warrants		25,425		—
Revenue recognized and not billed as of the end of the period		22,201		25,246
Net change in contract assets	$	32,122	$	20,568

Contract liabilities
	September 30, 2022		December 31, 2021
Increases due to cash received, net of amounts recognized as revenue during the period	$	121,683	$	182,052
Contract liabilities assumed as part of acquisitions		—		35,727
Revenue recognized that was included in the contract liability balance as of the beginning of the period		(115,628)		(110,974)
Net change in contract liabilities	$	6,055	$	106,805

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 and hydrogen installations are expected to be recognized as revenue within one year; sales of services and Power Purchase Agreements (“PPAs”) are expected to be recognized as revenue over five to seven years) related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period, net of the provision for common stock warrants (in thousands):

	September 30,
	2022
Sales of fuel cell systems	$	26,551
Sales of hydrogen installations and other infrastructure		28,492
Sales of electrolyzers		266,738
Sales of engineered equipment		26,859
Services performed on fuel cell systems and related infrastructure		121,761
Power Purchase Agreements		319,742
Fuel delivered to customers and related equipment		90,925
Sales of cryogenic equipment		50,674
Total estimated future revenue	$	931,742