v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities    
Net loss $ (246,037) $ (196,859)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation of long-lived assets 6,312 12,134
Amortization of intangible assets 908 2,007
Lower of cost or net realizable value inventory adjustments and provision for excess and obsolete inventory 7,271 8,262
Stock-based compensation 13,938 11,087
(Gain)/loss on extinguishment of convertible debt instruments and finance obligations (1,805) 3,652
Provision for losses on accounts receivable 2,394 40
Amortization of discount/(premium) of debt issuance costs on convertible debt instruments and long-term debt 997 (320)
Provision for common stock warrants 4,561 9,124
Impairment 3,856 1,064
Recovery on service contracts (14,685) (2,937)
Change in fair value of contingent consideration 280 (11,819)
Change in fair value of convertible debt instruments 70,782 7,338
Change in fair value of warrant liabilities 54,640  
Loss on equity method investments 470 2,370
Changes in operating assets and liabilities that provide/(use) cash:    
Accounts receivable 25,853 12,251
Inventory (6,860) (18,357)
Contract assets 1,561 580
Prepaid expenses and other assets (9,337) 40,576
Accounts payable, accrued expenses, and other liabilities (43,343) 47,578
Payments of contingent consideration (1,918) (6,024)
Payments of operating lease liability, net (17,523) (5,618)
Deferred revenue and other contract liabilities (2,356) (21,697)
Net cash used in operating activities (150,041) (105,568)
Investing activities    
Purchases of property, plant and equipment (2,407) (40,451)
Purchases of equipment related to power purchase agreements and equipment related to fuel delivered to customers (5,707) (5,608)
Cash paid for non-consolidated entities and non-marketable securities (367) (514)
Net cash used in investing activities (8,481) (46,573)
Financing activities    
Payments of contingent consideration (2,330)  
Proceeds from public and private offerings, net of transaction costs   276,053
Payments of tax withholding on behalf of employees for net stock settlement of stock-based compensation (37) (49)
Proceeds from exercise of stock options 90  
Contributions by non-controlling interest 300  
Principal payments on convertible debt instruments   (45,000)
Premium on principal of convertible debt instruments settled in cash   (1,238)
Principal payments on long-term debt (346) (344)
Cash paid for capitalized closing fees related to DOE loan guarantee   (12,817)
Principal repayments of finance obligations and finance leases (29,419) (23,373)
Net cash (used in)/provided by financing activities (31,742) 193,232
Effect of exchange rate changes on cash (1,706) (5,189)
(Decrease)/increase in cash and cash equivalents (145,351) 90,151
Decrease in restricted cash (46,619) (54,249)
Cash, cash equivalents, and restricted cash beginning of period 993,984 1,040,709
Cash, cash equivalents, and restricted cash end of period 802,014 1,076,611
Supplemental disclosure of cash flow information    
Cash paid for interest, net of capitalized interest of $0 and $5.0 million, respectively 8,992 6,692
Summary of non-cash activity    
Recognition of right of use asset - finance leases 2,876  
Recognition of right of use asset - operating leases 1,533 9,428
Principal payment on convertible debenture paid in common stock   30,000
Increase to other current assets due to net transfers between other current assets and long-lived assets 39,200  
(Decrease)/increase to inventory due to net transfers between inventory and long-lived assets (4,617) 476
Accrued purchase of fixed assets, cash to be paid in subsequent period $ 26,066 $ 47,447