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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents [1] $ 492,120,000 $ 396,035,000
Restricted cash [1] 42,104,000 92,540,000
Accounts receivable less allowance for doubtful accounts of $119 as of September 30, 2022 and December 31, 2021 [1] 71,184,000 87,789,000
Contract assets 25,768,000 25,201,000
Inventories 254,895,000 143,370,000
Deferred cost of revenue 31,812,000 25,040,000
Customer financing receivable [1] 0 5,784,000
Prepaid expense and other current assets [1] 46,489,000 30,661,000
Total current assets 964,372,000 806,420,000
Property, plant and equipment, net [1] 646,768,000 604,106,000
Operating lease right-of-use assets 114,053,000 106,660,000
Customer financing receivable [1] 0 39,484,000
Restricted cash [1] 135,098,000 126,539,000
Deferred cost of revenue 3,462,000 1,289,000
Other long-term assets [1] 38,316,000 41,073,000
Total assets 1,902,069,000 1,725,571,000
Current liabilities:    
Accounts payable 120,444,000 72,967,000
Accrued warranty 13,344,000 11,746,000
Accrued expenses and other current liabilities [1] 102,010,000 114,138,000
Deferred revenue and customer deposits [1] 98,841,000 89,975,000
Operating lease liabilities 12,671,000 13,101,000
Financing obligations 16,682,000 14,721,000
Recourse debt 12,792,000 8,348,000
Non-recourse debt [1] 15,943,000 17,483,000
Total current liabilities 392,727,000 342,479,000
Deferred revenue and customer deposits [1] 68,727,000 90,310,000
Operating lease liabilities 122,412,000 106,187,000
Financing obligations 443,665,000 461,900,000
Recourse debt 274,742,000 283,483,000
Non-recourse debt [1] 179,955,000 217,416,000
Other long-term liabilities 8,917,000 16,772,000
Total liabilities 1,491,145,000 1,518,547,000
Commitments and contingencies (Note 13)
Redeemable convertible preferred stock, Series A: 10,000,000 shares authorized and 10,000,000 shares and no shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively. 208,551,000 208,551,000
Redeemable noncontrolling interest 0 300,000
Stockholders’ equity (deficit):    
Common stock: $0.0001 par value; Class A shares - 600,000,000 shares authorized and 179,165,539 shares and 160,627,544 shares issued and outstanding and Class B shares - 600,000,000 shares authorized and 15,802,146 shares and 15,832,863 shares issued and outstanding at September 30, 2022 and December 31, 2021, respectively. 19,000 18,000
Additional paid-in capital 3,691,715,000 3,219,081,000
Accumulated other comprehensive loss (1,531,000) (350,000)
Accumulated deficit (3,517,311,000) (3,263,075,000)
Total equity (deficit) attributable to Class A and Class B common stockholders 172,892,000 (44,326,000)
Noncontrolling interest 29,481,000 42,499,000
Total stockholders' equity (deficit) 202,373,000 (1,827,000)
Total liabilities, redeemable convertible preferred stock, redeemable noncontrolling interest and stockholders' equity (deficit) $ 1,902,069,000 $ 1,725,571,000
[1] We have variable interest entities related to PPAs, which represent a portion of the consolidated balances recorded within these financial statement line items in the condensed consolidated balance sheets (see Note 11 - Portfolio Financings).