Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of reconciliation of cash, cash equivalents, and restricted cash

The following table provides a reconciliation of cash and cash equivalents and restricted cash to the total amounts shown within the unaudited condensed consolidated statements of cash flows for each period ended:


	As of
(Amounts in thousands)	March 31, 2025		March 31, 2024
Cash and cash equivalents	$	61,924	$	120,581
Restricted cash	34,545		29,087
Total cash, cash equivalents and restricted cash	$	96,469	$	149,668

Restrictions on Cash and Cash Equivalents


	As of
(Amounts in thousands)	March 31, 2025		March 31, 2024
Cash and cash equivalents	$	61,924	$	120,581
Restricted cash	34,545		29,087
Total cash, cash equivalents and restricted cash	$	96,469	$	149,668

Changes in financing receivables for accounting standards update

The following table presents the changes in the allowance for credit losses recorded against accounts receivable, net on the unaudited condensed consolidated balance sheets:


	As of
(Amounts in thousands)	March 31, 2025		December 31, 2024
Balance at the beginning of the period	$	757	$	1,693

Write-off of uncollectible accounts	(405)		(2,322)

Provision for current expected credit losses	244		1,386
Balance at the end of the period	$	596	$	757

Disaggregation of revenue

The following table presents the detail of the Company’s revenues as reflected within the unaudited condensed consolidated statements of operations for the three months ended March 31, 2025 and 2024:


	Three Months Ended March 31,
(Amounts in thousands)	2025		2024
PPA revenues	$	7,896	$	7,519
SLA revenues	9,940		7,291
Solar renewable energy credit revenues	3,855		1,837
Government incentives	68		77
Servicing revenues	649		—
Intangibles amortization, unfavorable solar renewable energy revenue agreements	748		746
Other revenue	662		817
Total	$	23,818	$	18,287