Revenue (Tables)
|
3 Months Ended |
Mar. 31, 2019 |
|---|
| Revenue |
|
| Schedule of disaggregation of revenue |
|
|
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|
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|
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Major products/services lines
|
|
|
|
|
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|
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Three months ended March 31,
|
|
|
|
2019
|
|
2018
|
|
Sales of fuel cell systems
|
|
$
|
2,220
|
|
$
|
5,983
|
|
Sale of hydrogen installations and other infrastructure
|
|
|
—
|
|
|
4,630
|
|
Services performed on fuel cell systems and related infrastructure
|
|
|
6,213
|
|
|
5,483
|
|
Power Purchase Agreements
|
|
|
4,707
|
|
|
5,372
|
|
Fuel delivered to customers
|
|
|
5,453
|
|
|
4,950
|
|
Net revenue
|
|
$
|
18,593
|
|
$
|
26,418
|
|
| 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):
|
|
|
|
|
|
|
|
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|
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March 31,
|
|
December 31,
|
|
|
|
2019
|
|
2018
|
|
Accounts receivable
|
|
$
|
32,062
|
|
$
|
37,347
|
|
Contract assets
|
|
|
3,521
|
|
|
3,328
|
|
Contract liabilities
|
|
|
38,104
|
|
|
40,476
|
|
| Schedule of changes in contract assets and the contract liabilities |
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|
|
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Contract assets
|
|
Three months ended
|
|
|
|
March 31, 2019
|
|
Transferred to receivables from contract assets recognized at the beginning of the period
|
|
$
|
(94)
|
|
Revenue recognized and not billed as of the end of the period
|
|
|
287
|
|
Net change in contract assets
|
|
$
|
193
|
|
|
|
|
|
|
Contract liabilities
|
|
Three months ended
|
|
|
|
March 31, 2019
|
|
Revenue recognized that was included in the contract liability balance as of the beginning of the period
|
|
$
|
2,819
|
|
Increases due to cash received, net of amounts recognized as revenue during the period
|
|
|
(447)
|
|
Net change in contract liabilities
|
|
$
|
2,372
|
|
| Schedule of Estimated future revenue |
The following table includes estimated revenue 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 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, excluding provision for common stock warrants as it is not readily estimable as it depends on the valuation of the common stock warrants when revenue is recognized (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31,
|
|
|
|
2019
|
|
2018
|
|
Sales of fuel cell systems
|
|
$
|
26,354
|
|
$
|
17,318
|
|
Sale of hydrogen installations and other infrastructure
|
|
|
9,072
|
|
|
9,141
|
|
Services performed on fuel cell systems and related infrastructure
|
|
|
68,878
|
|
|
73,381
|
|
Power Purchase Agreements
|
|
|
105,441
|
|
|
111,533
|
|
Other rental income
|
|
|
6,427
|
|
|
6,633
|
|
Total estimated future revenue
|
|
$
|
216,171
|
|
$
|
218,005
|
|