DERIVATIVE FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)
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9 Months Ended |
Sep. 30, 2026 |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] |
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| Schedule of Interest Rate Derivatives |
The location and amounts of interest rate swaps and their fair values in the condensed consolidated balance sheets are: | | | | | | | | | | | | | In | September 30,
2026 | December 31,
2025 | Location of Fair Value Recognized in Balance Sheet | | Derivatives designated as cash flow hedges: | | | | | Short term portion of the interest rate swaps | $ | 2,047 | | $ | 128 | | Prepaid expense and other current assets | | Long term portion of the interest rate swaps | 2,389 | | — | | Other long-term assets | | Long term portion of the interest rate swaps | — | | (301) | | Other long-term liabilities | | $ | 4,436 | | $ | (173) | | |
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| Schedule of Effect of Derivative Instruments on Statement of Operations |
The following table summarizes the effect of commodity swaps on the condensed consolidated statements of operations for the three and nine months ended September 30, 2026 and 2025: | | | | | | | | | | | | | | | | | | | Location of Gain (Loss) Recognized | Three Months Ended
September 30, | Nine Months Ended
September 30, | | 2026 | 2025 | 2026 | 2025 | | Derivatives not designated as hedging instruments: | | | | | | | Commodity swaps - realized | Revenues - Renewable Power | $ | — | | $ | 8 | | $ | (138) | | $ | (52) | | | Commodity swaps - unrealized | Revenues - Renewable Power | — | | 12 | | 92 | | — | | | Commodity swaps - realized | Revenues - RNG Fuel | 1,227 | | 1,029 | | 1,483 | | 1,900 | | | Commodity swaps - unrealized | Revenues - RNG Fuel | (116) | | 313 | | (82) | | 920 | | | Total realized and unrealized gain | | $ | 1,111 | | $ | 1,362 | | $ | 1,355 | | $ | 2,768 | |
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| Schedule of Derivatives Fair Values on Balance Sheet |
The following table summarizes the derivative assets and liabilities related to commodity swaps as of September 30, 2026 and December 31, 2025: | | | | | | | | | | | | | Fair Value | | | September 30,
2026 | December 31,
2025 | Location of Fair value recognized in Balance Sheet | | Derivatives not designated as hedging instruments: | | | | | Current portion of unrealized gain on commodity swaps | $ | 2,000 | | $ | 1,933 | | Prepaid expense and other current assets | | Current portion of unrealized loss on commodity swaps | — | | (92) | | Accrued expenses and other current liabilities | | Non - current portion of unrealized gain on commodity swaps | — | | 149 | | Other long-term assets | | | | | | Total commodity swaps - unrealized gain | $ | 2,000 | | $ | 1,990 | | |
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| Schedule of Fair Value Measurement Inputs and Valuation Techniques |
The key inputs into the Black-Scholes option pricing model for the Warrants were as follows for the relevant periods: | | | | | | | | | | As of September 30, 2026 | As of March 6, 2026 | | Risk-free interest rate | 5.2 | % | 4.0 | % | | Expected term (years) | 7.3 | 8.0 | | Expected volatility | 59.1 | % | 57.7 | % | | Exercise price | $ | 2.7 | $ | 2.7 | | Stock price | $ | 1.8 | $ | 2.1 |
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| Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis |
The Company's assets and liabilities that are measured at fair value on a recurring basis include the following as of September 30, 2026 and December 31, 2025, set forth by level, within the fair value hierarchy: | | | | | | | | | | | | | | | | Fair values as of September 30, 2026 | | Level 1 | Level 2 | Level 3 | Total | | Assets: | | | | | | Money market funds | $ | 48,609 | | $ | — | | $ | — | | $ | 48,609 | | | Interest rate swap contracts | — | | 4,436 | | — | | 4,436 | | | Commodity swap contracts | — | | 2,000 | | — | | 2,000 | | | Liabilities: | | | | | | Warrants | $ | — | | $ | — | | $ | 2,141 | | $ | 2,141 | | | | | | | | | | | |
| | | | | | | | | | | | | | | | Fair values as of December 31, 2025 | | Level 1 | Level 2 | Level 3 | Total | | Assets: | | | | | | Money market funds | $ | 22,969 | | $ | — | | $ | — | | $ | 22,969 | | | | | | | | Commodity swap contracts | $ | — | | $ | 2,082 | | $ | — | | $ | 2,082 | | | | | | | | | | | | | | | | | | | | | |
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