v3.26.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenue:        
Total revenue $ 869,988 $ 569,336 $ 1,592,219 $ 1,073,607
Operating expenses:        
Sales and marketing 190,681 152,459 369,214 298,449
Research and development 10,234 8,063 20,377 18,042
General and administrative 92,521 71,543 167,156 129,306
Total operating expenses 835,200 681,585 1,600,941 1,300,744
Income (loss) from operations 34,788 (112,249) (8,722) (227,137)
Interest expense, net (264,428) (247,137) (528,371) (474,571)
Other income (expense), net 17,495 (14,528) 34,681 (59,927)
Loss before income taxes (212,145) (373,914) (502,412) (761,635)
Income tax (benefit) expense (3,972) (94,930) 3,094 (205,480)
Net loss (208,173) (278,984) (505,506) (556,155)
Net loss attributable to noncontrolling interests and redeemable noncontrolling interests (323,325) (558,757) (788,302) (885,939)
Net income attributable to common stockholders $ 115,152 $ 279,773 $ 282,796 $ 329,784
Net income per share attributable to common stockholders        
Basic (in dollars per share) $ 0.48 $ 1.22 $ 1.19 $ 1.45
Diluted (in dollars per share) $ 0.42 $ 1.07 $ 1.04 $ 1.28
Weighted average shares used to compute net income per share attributable to common stockholders        
Basic (in shares) 238,997 229,167 236,804 227,794
Diluted (in shares) 273,999 261,152 273,189 259,539
Customer agreements and incentives        
Revenue:        
Total revenue $ 543,730 $ 458,000 $ 1,011,552 $ 860,920
Operating expenses:        
Costs 342,452 345,376 657,194 654,005
Energy systems and product sales        
Revenue:        
Total revenue 326,258 111,336 580,667 212,687
Operating expenses:        
Costs $ 199,312 $ 104,144 $ 387,000 $ 200,942