XML 23 R4.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenue:    
Total revenue [1] $ 235,298 $ 275,191
Cost of revenue:    
Total cost of revenue 197,222 220,924
Gross profit 38,076 54,267
Operating expenses:    
Research and development 35,485 45,690
Sales and marketing 13,599 27,111
General and administrative [2] 38,009 45,147
Total operating expenses 87,093 117,948
Loss from operations (49,017) (63,681)
Interest income 7,531 1,995
Interest expense [3] (14,546) (11,746)
Other expense, net [4] (1,170) (1,343)
Gain on revaluation of embedded derivatives 158 117
Loss before income taxes (57,044) (74,658)
Income tax (benefit) provision (501) 259
Net loss (56,543) (74,917)
Less: Net income (loss) attributable to noncontrolling interest 981 (3,350)
Net loss attributable to common stockholders $ (57,524) $ (71,567)
Net loss per share available to common stockholders, basic (in dollars per share) $ (0.25) $ (0.35)
Net loss per share available to common stockholders, diluted (in dollars per share) $ (0.25) $ (0.35)
Weighted average shares used to compute net loss per share available to common stockholders, basic (in shares) 225,587 206,724
Weighted average shares used to compute net loss per share available to common stockholders, diluted (in shares) 225,587 206,724
Product    
Revenue:    
Total revenue [1] $ 153,364 $ 193,745
Cost of revenue:    
Total cost of revenue 115,757 129,613
Installation    
Revenue:    
Total revenue [1] 11,444 20,525
Cost of revenue:    
Total cost of revenue 15,353 25,100
Service    
Revenue:    
Total revenue [1] 56,460 40,663
Cost of revenue:    
Total cost of revenue 56,506 51,244
Electricity    
Revenue:    
Total revenue [1] 14,030 20,258
Cost of revenue:    
Total cost of revenue $ 9,606 $ 14,967
[1] Including related party revenue of $122.2 million and $0.8 million for the three months ended March 31, 2024, and 2023, respectively.
[2] Including related party general and administrative expenses of $0.2 million for the three months ended March 31, 2024. There were no related party general and administrative expenses for the three months ended March 31, 2023.
[3] Including related party interest expense of $0.1 million for the three months ended March 31, 2024. There was no related party interest expense for the three months ended March 31, 2023.
[4] Including related party other expense, net of $(0.5) million for the three months ended March 31, 2024. There was no related party other expense, net for the three months ended March 31, 2023.