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Revenue (Tables)
6 Months Ended
Jun. 30, 2019
Revenue  
Schedule of disaggregation of revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

Major products/services lines

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended  June 30,

 

Six months ended June 30,

 

 

2019

 

2018

 

2019

 

2018

Sales of fuel cell systems

 

$

38,547

 

$

13,371

 

$

40,767

 

$

19,354

Sale of hydrogen installations and other infrastructure

 

 

 —

 

 

5,449

 

 

 —

 

 

10,079

Services performed on fuel cell systems and related infrastructure

 

 

5,282

 

 

5,691

 

 

11,495

 

 

11,174

Power Purchase Agreements

 

 

6,307

 

 

5,438

 

 

11,014

 

 

10,810

Fuel delivered to customers

 

 

6,932

 

 

5,280

 

 

12,385

 

 

10,230

    Net revenue

 

$

57,068

 

$

35,229

 

$

75,661

 

$

61,647

 

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):

 

 

 

 

 

 

 

 

 

 

June 30,

 

December 31,

 

 

2019

 

2018

Accounts receivable

 

$

26,592

 

$

37,347

Contract assets

 

 

4,372

 

 

3,328

Contract liabilities

 

 

36,652

 

 

40,476

 

Schedule of changes in contract assets and the contract liabilities

 

 

 

 

 

 

 

 

Contract assets

 

Six months ended

 

 

June 30, 2019

Transferred to receivables from contract assets recognized at the beginning of the period

 

$

(137)

Revenue recognized and not billed as of the end of the period

 

 

1,181

    Net change in contract assets

 

$

1,044

 

 

 

 

Contract liabilities

 

Six months ended

 

 

June 30, 2019

Revenue recognized that was included in the contract liability balance as of the beginning of the period

 

$

4,456

Increases due to cash received, net of amounts recognized as revenue during the period

 

 

(1,792)

    Net change in contract liabilities

 

$

2,664

 

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):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30,

 

 

2019

 

2018

Sales of fuel cell systems

 

$

16,467

 

$

13,478

Sale of hydrogen installations and other infrastructure

 

 

10,072

 

 

8,281

Services performed on fuel cell systems and related infrastructure

 

 

61,596

 

 

77,496

Power Purchase Agreements

 

 

121,744

 

 

122,659

Other rental income

 

 

5,793

 

 

5,463

    Total estimated future revenue

 

$

215,672

 

$

227,377