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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 45,162 $ 33,658
Restricted cash 0 1,693
Accounts receivable, net of allowance for doubtful accounts of $4,612 at March 31, 2023 and $4,335 at December 31, 2022 65,309 81,466
Accounts receivable—affiliates 5,805 6,455
Inventory 556 4,405
Fair value of derivative assets, net 43 1,632
Customer acquisition costs, net 4,283 3,530
Customer relationships, net 704 2,520
Deposits 9,591 10,568
Renewable energy credit asset 24,877 24,251
Other current assets 8,878 8,749
Total current assets 165,208 178,927
Property and equipment, net 4,686 4,691
Fair value of derivative assets, net 0 666
Customer acquisition costs, net 1,756 1,683
Customer relationships, net 396 481
Deferred tax assets 23,181 20,437
Goodwill 120,343 120,343
Other assets 3,403 3,722
Total assets 318,973 330,950
Current liabilities:    
Accounts payable 28,139 53,296
Accounts payable—affiliates 322 265
Accrued liabilities 8,808 8,431
Renewable energy credit liability 17,107 13,722
Fair value of derivative liabilities, net 33,120 16,132
Other current liabilities 81 322
Total current liabilities 87,577 92,168
Long-term liabilities:    
Fair value of derivative liabilities, net 4,313 2,715
Long-term portion of Senior Credit Facility 111,000 100,000
Subordinated debt—affiliates 15,000 20,000
Other long-term liabilities 0 18
Total liabilities 217,890 214,901
Commitments and contingencies (Note 12)
Series A Preferred Stock, par value $0.01 per share, 20,000,000 shares authorized, 3,567,543 shares issued and outstanding at March 31, 2023 and December 31, 2022 87,880 87,713
Stockholders' equity:    
Additional paid-in capital 38,244 42,871
Accumulated other comprehensive loss (40) (40)
Retained earnings 1,886 2,073
Treasury stock, at cost, 28,919 shares at March 31, 2023 and December 31, 2022 (2,406) (2,406)
Total stockholders' equity 37,756 42,570
Non-controlling interest in Spark HoldCo, LLC (24,553) (14,234)
Total equity 13,203 28,336
Total liabilities, Series A Preferred Stock and Stockholders' equity 318,973 330,950
Common Class A    
Stockholders' equity:    
Common stock 32 32
Common Class B    
Stockholders' equity:    
Common stock $ 40 $ 40