XML 16 R4.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue:        
Total revenue [1] $ 400,268 $ 292,274 $ 976,554 $ 736,549
Cost of revenue:        
Total cost of revenue 405,482 241,330 871,151 659,638
Gross (loss) profit (5,214) 50,944 105,403 76,911
Operating expenses:        
Research and development 35,126 36,146 122,309 112,286
Sales and marketing 20,002 23,275 73,935 65,084
General and administrative 43,366 44,115 131,004 119,965
Total operating expenses 98,494 103,536 327,248 297,335
Loss from operations (103,708) (52,592) (221,845) (220,424)
Interest income 7,419 1,109 13,771 1,364
Interest expense (68,037) (13,099) (93,736) (41,000)
Other (expense) income, net (1,577) 4,472 (3,660) 254
Loss on extinguishment of debt (1,415) 0 (4,288) (4,233)
(Loss) gain on revaluation of embedded derivatives (114) 54 (1,213) 623
Loss before income taxes (167,432) (60,056) (310,971) (263,416)
Income tax provision 646 336 1,083 888
Net loss (168,078) (60,392) (312,054) (264,304)
Less: Net gain (loss) attributable to noncontrolling interest 921 (3,315) (5,427) (9,768)
Net loss attributable to common stockholders (168,999) (57,077) (306,627) (254,536)
Less: Net loss attributable to redeemable noncontrolling interest 0 0 0 (300)
Net loss before portion attributable to redeemable noncontrolling interest and noncontrolling interest $ (168,999) $ (57,077) $ (306,627) $ (254,236)
Net loss per share available to common stockholders, basic (in dollars per share) $ (0.80) $ (0.31) $ (1.47) $ (1.41)
Net loss per share available to common stockholders, diluted (in dollars per share) $ (0.80) $ (0.31) $ (1.47) $ (1.41)
Weighted average shares used to compute net loss per share available to common stockholders, basic (in shares) 210,930 186,487 208,798 180,762
Weighted average shares used to compute net loss per share available to common stockholders, diluted (in shares) 210,930 186,487 208,798 180,762
Product        
Revenue:        
Total revenue $ 304,976 $ 213,243 $ 713,427 $ 520,415
Cost of revenue:        
Total cost of revenue 182,832 158,176 457,591 393,337
Installation        
Revenue:        
Total revenue 21,916 22,682 66,762 48,964
Cost of revenue:        
Total cost of revenue 25,902 28,333 77,881 57,836
Service        
Revenue:        
Total revenue 47,535 37,347 130,496 111,012
Cost of revenue:        
Total cost of revenue 57,370 41,792 165,877 124,646
Electricity        
Revenue:        
Total revenue 25,841 19,002 65,869 56,158
Cost of revenue:        
Total cost of revenue $ 139,378 $ 13,029 $ 169,802 $ 83,819
[1] Including related party revenue of $125.7 million and $361.0 million for the three and nine months ended September 30, 2023, respectively, and $12.5 million and $30.2 million for the three and nine months ended September 30, 2022, respectively.