v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Operating activities:    
Net loss $ (25,707) $ (70,053)
Add back: Net loss (income) from discontinued operations 64 (25)
Adjustments to reconcile net loss to net cash used in operating activities:    
Stock-based compensation, net 2,961 2,712
Bad debt expense 1,301 1,386
Amortization of deferred revenue (317) (1,193)
Depreciation and amortization expense 30,191 24,381
Amortization related to unfavorable solar renewable energy agreements (2,993) (3,097)
Impairment of goodwill 0 28,757
Accretion expense 328 236
Change in fair value of interest rate swaps 12,684 2,753
Change in fair value of warrant liabilities 0 (17)
Interest income related to SEMTH master lease agreement (18,085) (16,823)
Gain on disposal of assets (1,855) (2,504)
Change in operating right-of-use assets and lease liability (72) 26
Amortization of debt discount and deferred financing costs 6,536 6,026
Changes in operating assets and liabilities:    
Accounts receivable, net (2,040) (3,490)
Deferred rent assets (1,155) (1,263)
Prepaid expenses and other current assets 2,825 3,707
Other assets (13) 2
Accounts payable 929 (133)
Accrued expenses and other current liabilities (10,361) (15,571)
Other long-term liabilities 0 (9)
Deferred revenue 1,374 2,506
Net cash used in continuing operating activities (3,405) (41,686)
Net cash used in discontinued operating activities (125) (125)
Net cash used in operating activities (3,530) (41,811)
Investing activities:    
Proceeds from sale of solar energy systems 5,609 6,091
Proceeds from investment related to SEMTH master lease agreement 24,726 25,614
Cash paid for acquisitions (5,334) (132,763)
Purchases of other property and equipment (221) (354)
Net cash provided by (used in) continuing investing activities 24,780 (101,412)
Financing activities:    
Proceeds from issuance of non-recourse debt 0 239,842
Payment of deferred financing costs 0 (3,374)
Repayments of non-recourse debt (35,099) (155,943)
Share repurchases (1,818) (853)
Capital distributions to noncontrolling interests (336) (323)
Net cash provided by (used in) continuing financing activities (37,253) 79,349
Net cash provided by discontinued financing activities 0 81
Net cash provided by (used in) financing activities (37,253) 79,430
Net change in cash and cash equivalents and restricted cash: (16,003) (63,793)
Cash and cash equivalents and restricted cash, beginning of period 109,148 172,941
Cash and cash equivalents and restricted cash, end of period 93,145 109,148
Supplemental disclosure of cash flow information:    
Cash paid for interest 42,978 35,060
Supplemental disclosure of noncash investing and financing information:    
Right-of-use asset obtained in exchange for lease liability $ 307 $ 0