v3.26.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Schedule of reconciliation of cash, cash equivalents, and restricted cash
The following table provides a reconciliation of cash and cash equivalents and restricted cash reflected on the consolidated balance sheets to the total amounts shown within the consolidated statements of cash flows for each year:

As of December 31,
(Amounts in thousands)20252024
Cash and cash equivalents$54,842 $72,802 
Restricted cash38,303 36,346 
Total cash, cash equivalents and restricted cash$93,145 $109,148 
Restrictions on Cash and Cash Equivalents
The following table provides a reconciliation of cash and cash equivalents and restricted cash reflected on the consolidated balance sheets to the total amounts shown within the consolidated statements of cash flows for each year:

As of December 31,
(Amounts in thousands)20252024
Cash and cash equivalents$54,842 $72,802 
Restricted cash38,303 36,346 
Total cash, cash equivalents and restricted cash$93,145 $109,148 
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 consolidated balance sheets:
As of December 31,
(Amounts in thousands)20252024
Balance at the beginning of the period$757 $1,693 
Write-off of uncollectible accounts(1,268)(2,322)
Provision for current expected credit losses1,301 1,386 
Balance at the end of the period$790 $757 
Property and equipment, schedule of useful lives Depreciation is calculated using the straight-line method, based upon the following estimated useful lives:
Equipment5 years
Furniture and fixtures3 years
Computer and related equipment2 years
Software2 years
Vehicles5 years
Leasehold improvementsLesser of useful life of the asset or remaining life of the lease
Property and equipment, net consisted of the following as of December 31, 2025 and 2024:
As of December 31,
(Amounts in thousands)20252024
Solar energy systems$642,299 $641,245 
Less: Accumulated depreciation(81,430)(52,817)
Solar energy systems, net$560,869 $588,428 
Furniture and fixtures529 551 
Computers and related equipment306 324 
Leasehold improvements113 30 
Gross other property and equipment948 905 
Less: Accumulated depreciation(429)(319)
Other property and equipment, net$519 $586 
Property and equipment, net$561,388 $589,014 
Schedule of Change in Asset Retirement Obligation The following is a roll forward of the Company’s ARO:
Years Ended
December 31,
(Amounts in thousands)20252024
Balance at the beginning of the period$3,536 $3,033 
Additions
— 267 
Accretion expense328 236 
Balance at the end of the period$3,864 $3,536 
Schedule of accrued warranty liability
The following is a roll forward of the Company’s accrued warranty liability:

As of December 31,
(Amounts in thousands)20252024
Balance at the beginning of the period$216 $602 
Warranty fulfillment charges(216)(386)
Balance at the end of the period$— $216 
Disaggregation of revenue
The following table presents the detail of the Company’s revenues as reflected within the consolidated statements of operations for the years ended December 31, 2025 and 2024:

Years Ended
December 31,
(Amounts in thousands)20252024
PPA revenues$37,969 $38,391 
SLA revenues39,915 28,978 
Solar renewable energy credit revenues21,358 7,205 
Performance-based incentives2,145 425 
Servicing revenues3,803 778 
Intangibles amortization, unfavorable solar renewable energy revenue agreements2,993 3,097 
Other revenue3,629 3,233 
Total$111,812 $82,107