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Revenue (Tables)
3 Months Ended
Mar. 31, 2019
Revenue  
Schedule of disaggregation of revenue

 

 

 

 

 

 

 

Major products/services lines

 

 

 

 

 

 

 

 

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):

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

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