Revenue from Contracts with Customers (Tables)

6 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of revenue

The Company is generally the principal in its customer contracts because it has control over the goods and services prior to their transfer to the customer, and as such, revenue is recognized on a gross basis. Sales and usage-based taxes are excluded from revenue. Revenue is recognized net of allowances for returns and any taxes collected from customers, which

are subsequently remitted to governmental authorities. The table below presents the Company’s revenue disaggregated by revenue source (in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2021		2022		2021		2022
Volume-related (1) (2)	$	(10,829)	$	91,266	$	57,297	$	171,205
Station construction sales		6,071		5,967		10,606		9,294
AFTC (3)		5,238		(9)		9,720		222
Total revenue	$	480	$	97,224	$	77,623	$	180,721

(1) Includes changes in fair value of derivative instruments related to the Company’s commodity swap and customer fueling contracts associated with the Company’s Zero Now truck financing program. The amounts are classified as revenue because the Company’s commodity swap contracts are used to economically offset the risk associated with the diesel-to-natural gas price spread resulting from customer fueling contracts under the Company’s Zero Now truck financing program. See Note 6 for more information about these derivative instruments. For the three and six months ended June 30, 2021, aggregate changes in the fair value of commodity swaps and customer fueling contracts amounted to a loss of $0.5 million and $2.5 million, respectively. For the three and six months ended June 30, 2022, aggregate changes in the fair value of commodity swaps and customer fueling contracts amounted to a loss of $1.1 million and $2.1 million, respectively.

(2) Includes non-cash stock-based sales incentive contra-revenue charges associated with the Amazon Warrant. For the three and six months ended June 30, 2021, $78.1 million of contra-revenue charges were recognized in volume-related revenue. For the three and six months ended June 30, 2022, contra-revenue charges recognized in volume-related revenue were $4.8 million and $8.5 million, respectively. See Note 14 for more information.

(3) Represents the federal alternative fuel excise tax credit (“AFTC”), which was available for vehicle fuel sales made beginning January 1, 2021 through December 31, 2021. See Note 19 for more information.

Summary of contract balances

As of December 31, 2021 and June 30, 2022, the Company’s contract balances were as follows (in thousands):

	December 31,		June 30,
	2021		2022
Accounts receivable, net	$	87,433	$	83,356
Contract assets - current	$	966	$	2,277
Contract assets - non-current		3,532		3,254
Contract assets - total	$	4,498	$	5,531
Contract liabilities - current	$	5,523	$	5,613
Contract liabilities - non-current		—		—
Contract liabilities - total	$	5,523	$	5,613