v3.26.1
REVENUE RECOGNITION (Tables)
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The Company recognized revenue for the product and service categories as follows for the three and six months ended June 30, 2026 and 2025 (amounts in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Sale of energy storage products$14,696 $7,711 $34,406 $12,602 
Tolling and power purchase agreement (“PPA”) revenue (1)
2,026 390 3,554 390 
Operation and maintenance services445 277 889 553 
Software licensing187 120 369 232 
Intellectual property (“IP”) licensing15 14 30 3,269 
Total revenue$17,369 $8,512 $39,248 $17,046 
__________________
(1) Revenue from the arrangement accounted for as an operating lease was $1.1 million and $1.6 million for the three and six months ended June 30, 2026, respectively, and was $0.4 million for each of the three and six months ended June 30, 2025.
Schedule of Contract Assets and Contract Liabilities
The following table provides information about contract assets and contract liabilities from contracts with customers accounted for under ASC 606 (amounts in thousands):
June 30,
2026		December 31,
2025
Refundable contribution$25,000 $25,000 
Unbilled receivables15,228 20,732 
Less allowance for credit losses(25,163)(25,101)
Contract assets, net of allowance for credit losses$15,065 $20,631 
Contract liabilities$29,726 $6,610 
Schedule of Remaining Expected Revenue Floor Payments to be Received
The aggregate remaining Monthly Floor payments as of June 30, 2026 presented in the table below do not reflect potential reductions due to performance-based adjustments that may occur throughout the contract term (amounts in thousands) (1):
20262027202820292030ThereafterTotal
$2,394 $4,788 $4,788 $4,788 $4,446 $18,468 $39,672 
__________________
(1) The table reflects contractual Monthly Floor payments due under the lease agreement for each fiscal year. These amounts represent the stated floor amounts prior to any performance-based adjustments. Actual lease payments may be lower in any given period based on the lessee’s achievement of availability and round-trip efficiency thresholds. Additionally, the timing of cash receipts within a year may vary, as monthly payments are dependent on the lessee's net market revenue. Pursuant to the agreement, if cumulative lease payments for the contract year are less than the aggregate Effective Monthly Floors earned, the lessee is required to pay the shortfall to the Company in an annual true-up following the end of each contract year in May.