Unaudited Quarterly Financial Data (Tables)
12 Months Ended
Dec. 31, 2018
Quarterly Financial Information Disclosure  
Schedule of Quarterly Financial Information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarters ended

 

 

    

March 31,

    

June 30,

    

September 30,

    

December 31,

 

 

 

2018

 

2018

 

2018

 

2018

 

Net revenue (1):

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales of fuel cell systems and related infrastructure

 

$

10,613

 

$

18,820

 

$

36,668

 

$

41,191

 

Services performed on fuel cell systems and related infrastructure (2)

 

 

5,483

 

 

5,691

 

 

5,156

 

 

5,672

 

Power Purchase Agreements

 

 

5,372

 

 

5,438

 

 

5,555

 

 

6,504

 

Fuel delivered to customers

 

 

4,950

 

 

5,280

 

 

5,786

 

 

6,453

 

Net revenue

 

 

26,418

 

 

35,229

 

 

53,165

 

 

59,820

 

Gross (loss) profit

 

 

(3,984)

 

 

(2,310)

 

 

4,409

 

 

4,507

 

Operating expenses

 

 

16,957

 

 

20,668

 

 

17,054

 

 

17,426

 

Operating loss

 

 

(20,941)

 

 

(22,978)

 

 

(12,645)

 

 

(12,919)

 

Net loss attributable to common shareholders

 

 

(19,848)

 

 

(25,881)

 

 

(15,578)

 

 

(16,860)

 

Loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and Diluted

 

$

(0.09)

 

$

(0.12)

 

$

(0.07)

 

$

(0.08)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarters ended

 

 

    

March 31,

    

June 30,

    

September 30,

    

December 31,

 

 

 

2017

 

2017

 

2017

 

2017

 

Net revenue (1):

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales of fuel cell systems and related infrastructure

 

$

2,197

 

$

7,650

 

$

38,060

 

$

14,724

 

Services performed on fuel cell systems and related infrastructure (2)

 

 

4,372

 

 

3,908

 

 

2,217

 

 

5,706

 

Power Purchase Agreements

 

 

4,311

 

 

4,945

 

 

(1,663)

 

 

5,276

 

Fuel delivered to customers

 

 

3,491

 

 

3,440

 

 

(4,149)

 

 

5,384

 

Other

 

 

87

 

 

64

 

 

128

 

 

 5

 

Net revenue

 

 

14,458

 

 

20,007

 

 

34,593

 

 

31,095

 

Gross loss

 

 

(4,479)

 

 

(3,543)

 

 

(19,410)

 

 

(657)

 

Operating expenses (3)

 

 

15,143

 

 

24,529

 

 

16,971

 

 

17,060

 

Operating loss

 

 

(19,622)

 

 

(28,072)

 

 

(36,381)

 

 

(17,717)

 

Net loss attributable to common shareholders

 

 

(27,074)

 

 

(42,645)

 

 

(41,008)

 

 

(19,451)

 

Loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and Diluted

 

$

(0.14)

 

$

(0.19)

 

$

(0.18)

 

$

(0.09)

 

 

(1)

Revenue amounts reported in prior periods have been reclassified to be presented net of provision for common stock warrants, as referenced in Note 2, Summary of Significant Accounting Policies.

 

(2)

Presentation of certain service arrangements and the amortization of the associated finance obligations for 2018 and 2017 has been corrected resulting in changes to previously reported interim financial information.  See Note 2, Summary of Significant Accounting Policies, for details.

 

(3)

Operating expenses in the second quarter of 2017 includes the impact of $7.1 million charge related to the fair value of Amazon Warrant Shares as discussed in Note 13, Warrant Transaction Agreements.