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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net loss $ (307,937) $ (315,086) $ (193,369)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 62,609 61,608 53,454
Non-cash lease expense 33,619 20,155 9,708
Loss on disposal of property, plant and equipment 411 0 0
Revaluation of derivative contracts 1,641 (9,583) 17,532
Impairment of assets related to PPAs 130,088 113,514 0
Derecognition of loan commitment asset related to SK ecoplant Second Tranche Closing 52,792 0 0
Stock-based compensation expense 84,480 112,259 73,274
Amortization of warrants and debt issuance costs 4,772 3,032 3,797
Loss on extinguishment of debt 4,288 8,955 0
Gain on remeasurement of investment 0 0 (1,966)
Contingent consideration remeasurement 0 0 (3,623)
Interest expense on interest rate swap settlement 0 0 (641)
Unrealized foreign currency exchange loss (gain) 618 (3,267) 77
Other 450 3,532 0
Changes in operating assets and liabilities:      
Accounts receivable [1] (89,888) (162,864) 8,608
Contract assets [2] 5,361 (21,525) (21,874)
Inventories (231,689) (124,878) (885)
Deferred cost of revenue [3] 1,655 (24,282) 17,567
Customer financing receivable 0 2,510 5,428
Prepaid expenses and other assets [4] (5,754) (17,590) 1,520
Other long-term assets [5] (3,366) (2,617) (2,854)
Operating lease right-of-use assets and operating lease liabilities (32,801) 3,016 (12,953)
Financing lease liabilities 1,011 896 1,142
Accounts payable (29,080) 86,498 13,017
Accrued warranty 1,994 5,586 1,481
Accrued expenses and other liabilities [6] (13,785) 43,243 (2,144)
Deferred revenue and customer deposits [7] (42,635) 35,156 (22,677)
Other long-term liabilities (1,385) (9,991) (4,300)
Net cash used in operating activities (372,531) (191,723) (60,681)
Cash flows from investing activities:      
Purchase of property, plant and equipment (83,739) (116,823) (49,810)
Proceeds from sale of property, plant and equipment 14 0 0
Net cash acquired from step acquisition 0 0 3,114
Net cash used in investing activities (83,725) (116,823) (46,696)
Cash flows from financing activities:      
Proceeds from issuance of debt [8] 637,127 0 135,989
Payment of debt issuance costs (19,736) 0 (1,950)
Repayment of debt (191,390) (120,586) (123,374)
Make-whole payment related to PPA IIIa and PPA IV debt 0 (6,553) 0
Purchase of capped call options related to convertible notes (54,522) 0 0
Proceeds from financing obligations 4,993 3,261 16,849
Repayment of financing obligations (18,445) (35,543) (13,642)
Distributions and payments to noncontrolling interest (2,265) (6,854) (5,789)
Distributions to redeemable noncontrolling interest 0 0 (49)
Proceeds from issuance of common stock 16,945 15,279 89,790
Proceeds from public share offering 0 385,396 0
Payment of public share offering costs (35) (13,775) 0
Buyout of noncontrolling interest (6,864) (12,000) 0
Proceeds from issuance of redeemable convertible preferred stock 310,957 0 217,861
Payment of issuance costs related to redeemable convertible preferred stock (395) 0 (9,310)
Contributions from noncontrolling interest 6,979 2,815 0
Other 0 (76) 0
Net cash provided by financing activities 683,349 211,364 306,375
Effect of exchange rate changes on cash, cash equivalent and restricted cash (281) 434 (594)
Net increase (decrease) in cash, cash equivalents, and restricted cash 226,812 (96,748) 198,404
Beginning of period 518,366 615,114 416,710
End of period 745,178 518,366 615,114
Supplemental disclosure of cash flow information:      
Cash paid during the period for interest 49,929 48,980 68,739
Cash paid for amounts included in the measurement of lease liabilities:      
Operating cash flows from operating leases 32,538 14,001 17,416
Operating cash flows from finance leases 1,097 1,085 878
Cash paid during the period for income taxes 1,455 1,439 576
Non-cash investing and financing activities:      
Increase in recourse debt, non-current upon adoption of ASU 2020-06, net 0 0 121,491
Transfer from customer financing receivable to property, plant and equipment, net 0 42,758 0
Forward to purchase Class A common stock 0 4,183 0
Liabilities recorded for property, plant and equipment, net 9,297 10,988 6,095
Recognition of operating lease right-of-use asset during the year-to-date period 29,823 36,402 82,802
Recognition of finance lease right-of-use asset during the year-to-date period 1,011 896 2,210
Derecognition of the pre-modified forward contract fair value 76,242 0 0
Equity component of redeemable convertible preferred stock 16,145 0 0
Series A Redeemable Convertible Preferred Stock      
Non-cash investing and financing activities:      
Conversion of redeemable convertible preferred stock   $ 208,551 $ 0
Series B Redeemable Convertible Preferred Stock      
Non-cash investing and financing activities:      
Conversion of redeemable convertible preferred stock $ 310,484    
[1] Including changes in related party balances of $257.8 million, $0.1 million and $2.0 million for the years ended December 31, 2023, 2022 and 2021, respectively.
[2] Including change in related party balances of $6.9 million for the year ended December 31, 2023. There were no associated related party balances as of December 31, 2022 and 2021.
[3] Including change in related party balances of $0.9 million for the year ended December 31, 2023. There were no associated related party balances as of December 31, 2022 and 2021.
[4] Including change in related party balances of $2.3 million for the year ended December 31, 2023. There were no associated related party balances as of December 31, 2022 and 2021.
[5] Including change in related party balances of $9.1 million for the year ended December 31, 2023. There were no associated related party balances as of December 31, 2022 and 2021.
6 Including change in related party balances of $0.1 million for the year ended December 31, 2023. There were no associated related party balances as of December 31, 2022 and 2021.
[6] Including change in related party balances of $3.4 million for the year ended December 31, 2023. There were no associated related party balances as of December 31, 2022 and 2021.
[7] Including change in related party balances of $8.4 million for the year ended December 31, 2023. There were no associated related party balances as of December 31, 2022 and 2021.
[8] Including proceeds from issuance of debt from related party of $4.6 million for the year ended December 31, 2023. There were no proceeds from issuance of debt from related party for the years ended of December 31, 2022 and 2021.