XML 17 R2.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Current assets:    
Cash and cash equivalents $ 78,618 $ 56,664
Restricted cash 1,006 1,004
Accounts receivable, net of allowance for doubtful accounts of $6,299 at June 30, 2020 and $4,797 at December 31, 2019 68,043 113,635
Accounts receivable—affiliates 4,148 2,032
Inventory 972 2,954
Fair value of derivative assets 312 464
Customer acquisition costs, net 10,382 8,649
Customer relationships, net 12,159 13,607
Deposits 6,086 6,806
Renewable energy credit asset 12,175 24,204
Other current assets 7,623 6,109
Total current assets 201,524 236,128
Property and equipment, net 2,779 3,267
Fair value of derivative assets 221 106
Customer acquisition costs, net 2,049 9,845
Customer relationships, net 11,729 17,767
Deferred tax assets 28,890 29,865
Goodwill 120,343 120,343
Other assets 4,477 5,647
Total assets 372,012 422,968
Current liabilities:    
Accounts payable 31,979 48,245
Accounts payable—affiliates 717 1,009
Accrued liabilities 38,289 37,941
Renewable energy credit liability 18,696 33,120
Fair value of derivative liabilities 11,282 19,943
Other current liabilities 1,461 1,697
Total current liabilities 102,424 141,955
Long-term liabilities:    
Fair value of derivative liabilities 408 495
Long-term portion of Senior Credit Facility 100,000 123,000
Other long-term liabilities 73 217
Total liabilities 202,905 265,667
Commitments and Contingencies
Series A Preferred Stock, par value $0.01 per share, 20,000,000 shares authorized, 3,707,256 shares issued and 3,567,543 shares outstanding at June 30, 2020 and 3,707,256 shares issued and 3,677,318 shares outstanding at December 31, 2019 87,288 90,015
Stockholders' equity:    
Additional paid-in capital 53,409 51,842
Accumulated other comprehensive loss (40) (40)
Retained earnings 7,275 1,074
Treasury stock, at cost, 99,446 shares at June 30, 2020 and December 31, 2019 (2,011) (2,011)
Total stockholders' equity 58,990 51,219
Non-controlling interest in Spark HoldCo, LLC 22,829 16,067
Total equity 81,819 67,286
Total liabilities, Series A Preferred Stock and Stockholders' equity 372,012 422,968
Class A Common Stock    
Stockholders' equity:    
Common Stock 148 145
Class B Common Stock    
Stockholders' equity:    
Common Stock $ 209 $ 209