Revenue from Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

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				Nine Months Ended
	September 30,				September 30,
	2021		2022		2021		2022
Product revenue:
Volume-related
Fuel sales⁽¹⁾	$	52,343	$	78,512	$	72,237	$	204,224
Change in fair value of derivative instruments⁽²⁾		268		508		(2,240)		(1,606)
RIN Credits		8,134		9,270		21,916		26,997
LCFS Credits		5,744		2,595		12,976		10,114
AFTC ⁽³⁾		5,287		16,057		15,008		16,279
Total volume-related product revenue		71,776		106,942		119,897		256,008
Station construction sales		2,578		6,418		13,184		15,712
Total product revenue		74,354		113,360		133,081		271,720
Service revenue:
Volume-related, O&M services		11,676		11,982		30,506		33,727
Other services		65		345		131		961
Total service revenue		11,741		12,327		30,637		34,688
Total revenue	$	86,095	$	125,687	$	163,718	$	306,408

(1)

Includes non-cash stock-based sales incentive contra-revenue charges associated with the Amazon Warrant. For the three and nine months ended September 30, 2021, contra-revenue charges recognized in fuel revenue were $2.2 million and $80.2 million, respectively. For the three and nine months ended September 30, 2022, contra-revenue charges recognized in fuel revenue were $7.0 million and $15.5 million, respectively. See Note 14 for more information.

(2)

Represents 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.

(3)	Represents the federal alternative fuel excise tax credit (“AFTC”), which was renewed and extended for three years beginning retroactively to January 1, 2022. See Note 19 for more information.

Summary of contract balances

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


	December 31,		September 30,
	2021		2022
Accounts receivable, net	$	87,433	$	92,161

Contract assets - current	$	966	$	2,046
Contract assets - non-current		3,532		3,115
Contract assets - total	$	4,498	$	5,161

Contract liabilities - current	$	5,523	$	4,583
Contract liabilities - non-current		—		—
Contract liabilities - total	$	5,523	$	4,583