Revenue (Tables)

12 Months Ended

Dec. 31, 2023

Revenue

Schedule of disaggregation of revenue

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

Major products/services lines
	Year ended December 31,
	2023		2022		2021
Sales of fuel cell systems	$	181,168	$	207,691	$	225,229
Sales of hydrogen infrastructure		183,606		141,528		135,055
Sales of electrolyzers		82,611		28,463		16,667
Sales of engineered equipment		32,361		93,489		7,571
Services performed on fuel cell systems and related infrastructure		39,093		35,280		26,706
Power purchase agreements		63,731		47,183		35,153
Fuel delivered to customers and related equipment		66,246		57,196		46,917
Sales of cryogenic equipment and other		231,687		87,761		8,255
Other		10,837		2,849		789
Net revenue	$	891,340	$	701,440	$	502,342

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):

	December 31,		December 31,
	2023		2022
Accounts receivable	$	243,811	$	129,450
Contract assets		155,989		104,287
Deferred revenue and contract liabilities		288,302		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
	December 31, 2023		December 31, 2022
Transferred to receivables from contract assets recognized at the beginning of the period	$	(94,860)	$	(33,394)
Change in contract assets related to warrants		14,260		26,455
Impairment		(2,375)		—
Revenue recognized and not billed as of the end of the period		134,677		72,469
Net change in contract assets	$	51,702	$	65,530

Deferred revenue and contract liabilities
	December 31, 2023		December 31, 2022
Increases due to customer billings, net of amounts recognized as revenue during the period	$	151,965	$	200,347
Change in contract liabilities related to warrants		440		—
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		(94,001)		(163,550)
Net change in deferred revenue and contract liabilities	$	58,404	$	46,808

Schedule of Estimated future revenue

The following table includes estimated revenue expected to be recognized in the future 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):

	December 31,		Expected recognition
	2023		period (years)
Sales of fuel cell systems	$	64,954		1 - 2
Sales of hydrogen installations and other infrastructure		22,860		1
Sales of electrolyzers		301,323		1 - 2
Sales of engineered equipment		19,876		1
Services performed on fuel cell systems and related infrastructure		123,080		5 - 10
Power purchase agreements		435,967		5 - 10
Fuel delivered to customers and related equipment		95,444		5 - 10
Sales of cryogenic equipment and other		87,927		1
Total estimated future revenue	$	1,151,431