Bloom Energy (BE) 10-Q 7 Nov 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Nov. 04, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-38598
Entity Registrant Name	BLOOM ENERGY CORP
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	77-0565408
Entity Address, Address Line One	4353 North First Street
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95134
City Area Code	408
Local Phone Number	543-1500
Title of 12(b) Security	Class A Common Stock, $0.0001 par value
Trading Symbol	BE
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		228,575,978
Entity Central Index Key	0001664703
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	[1]	$ 495,677	$ 664,593
Restricted cash	[1]	22,548	46,821
Accounts receivable, less allowance for credit losses	[1],[2]	590,794	340,740
Contract assets	[3]	121,074	41,366
Inventories	[1]	584,484	502,515
Deferred cost of revenue	[4]	40,648	45,984
Prepaid expenses and other current assets	[1],[5]	47,663	51,148
Total current assets		1,902,888	1,693,167
Property, plant and equipment, net	[1]	484,505	493,352
Operating lease right-of-use assets	[1],[6]	133,143	139,732
Restricted cash	[1]	30,926	33,764
Deferred cost of revenue		3,539	3,454
Other long-term assets	[1],[7]	49,516	50,208
Total assets		2,604,517	2,413,677
Current liabilities:
Accounts payable	[1],[8]	124,272	132,078
Accrued warranty	[9]	15,009	19,326
Accrued expenses and other current liabilities	[1],[10]	130,331	130,879
Deferred revenue and customer deposits	[1],[11]	142,056	128,922
Operating lease liabilities	[1],[12]	20,195	20,245
Financing obligations		20,921	38,972
Recourse debt		114,139	0
Total current liabilities		566,923	470,422
Deferred revenue and customer deposits	[1],[13]	34,796	19,140
Operating lease liabilities	[1],[14]	135,159	141,939
Financing obligations		390,539	405,824
Recourse debt		1,008,734	842,006
Non-recourse debt	[1],[15]	4,563	4,627
Other long-term liabilities		8,811	9,049
Total liabilities		2,149,525	1,893,007
Commitments and contingencies
Stockholders’ equity:
Common stock: $0.0001 par value; Class A shares — 600,000,000 shares and 600,000,000 shares authorized, and 228,509,625 shares and 224,717,533 shares issued and outstanding, and Class B shares — 470,092,742 shares and 600,000,000 shares authorized, and no shares issued and outstanding at September 30, 2024, and December 31, 2023, respectively		23	21
Additional paid-in capital		4,435,152	4,370,343
Accumulated other comprehensive loss		(1,818)	(1,687)
Accumulated deficit		(4,002,413)	(3,866,599)
Total stockholders’ equity attributable to common stockholders		430,944	502,078
Noncontrolling interest		24,048	18,592
Total stockholders’ equity		454,992	520,670
Total liabilities and stockholders’ equity		$ 2,604,517	$ 2,413,677
[1] We have a variable interest entity related to a joint venture in the Republic of Korea (see Note 15 — SK ecoplant Strategic Investment ), which represents a portion of the consolidated balances recorded within these financial statement line items. 9 Including amounts from related parties of $2.8 million and $1.3 million as of September 30, 2024, and December 31, 2023, respectively.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Allowance for doubtful accounts		$ 119,000	$ 119,000
Accounts receivable	[1],[2]	590,794	340,740
Contract assets	[3]	121,074	41,366
Deferred cost of revenue	[4]	40,648	45,984
Prepaid expenses and other current assets	[1],[5]	47,663	51,148
Operating lease right-of-use assets	[1],[6]	133,143	139,732
Other long-term assets	[1],[7]	49,516	50,208
Accounts payable	[1],[8]	124,272	132,078
Accrued warranty	[9]	15,009	19,326
Accrued expenses and other current liabilities	[1],[10]	130,331	130,879
Deferred revenue and customer deposits	[1],[11]	142,056	128,922
Operating lease liabilities	[1],[12]	20,195	20,245
Deferred revenue and customer deposits	[1],[13]	34,796	19,140
Operating lease liabilities	[1],[14]	135,159	141,939
Non-recourse debt	[1],[15]	4,563	4,627
Related Party
Accounts receivable		349,502	262,031
Contract assets		796	6,872
Deferred cost of revenue		0	875
Prepaid expenses and other current assets		1,101	2,257
Operating lease right-of-use assets		1,674	2,031
Other long-term assets		9,064	9,069
Accounts payable		0	77
Accrued warranty		2,779	1,260
Accrued expenses and other current liabilities		7,624	3,427
Deferred revenue and customer deposits		7,064	1,707
Operating lease liabilities		480	440
Deferred revenue and customer deposits		6,300	6,700
Operating lease liabilities		1,228	1,617
Non-recourse debt		$ 4,600	$ 4,600
Class A common stock
Common stock, par value (in dollars per share)		$ 0.0001	$ 0.0001
Common stock, authorized (in shares)		600,000,000	600,000,000
Common stock, issued (in shares)		228,509,625	224,717,533
Common stock, outstanding (in shares)		228,509,625	224,717,533
Class B common stock
Common stock, par value (in dollars per share)		$ 0.0001	$ 0.0001
Common stock, authorized (in shares)		470,092,742	600,000,000
Common stock, issued (in shares)		0	0
Common stock, outstanding (in shares)		0	0
[1] We have a variable interest entity related to a joint venture in the Republic of Korea (see Note 15 — SK ecoplant Strategic Investment ), which represents a portion of the consolidated balances recorded within these financial statement line items. 9 Including amounts from related parties of $2.8 million and $1.3 million as of September 30, 2024, and December 31, 2023, respectively.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue:
Total revenue	[1]	$ 330,399	$ 400,268	$ 901,463	$ 976,554
Cost of revenue:
Total cost of revenue	[2]	251,665	405,482	716,132	871,151
Gross profit (loss)		78,734	(5,214)	185,331	105,403
Operating expenses:
Research and development		36,315	35,126	109,164	122,309
Sales and marketing		14,667	20,002	46,167	73,935
General and administrative	[3]	37,403	43,366	111,797	131,004
Total operating expenses		88,385	98,494	267,128	327,248
Loss from operations		(9,651)	(103,708)	(81,797)	(221,845)
Interest income		6,456	7,419	20,417	13,771
Interest expense	[4]	(16,763)	(68,037)	(46,685)	(93,736)
Other income (expense), net		5,821	(1,577)	3,667	(3,660)
Loss on extinguishment of debt		0	(1,415)	(27,182)	(4,288)
Loss on revaluation of embedded derivatives		(386)	(114)	(316)	(1,213)
Loss before income taxes		(14,523)	(167,432)	(131,896)	(310,971)
Income tax provision		109	646	464	1,083
Net loss		(14,632)	(168,078)	(132,360)	(312,054)
Less: Net income (loss) attributable to noncontrolling interest		79	921	1,662	(5,427)
Net loss attributable to common stockholders		$ (14,711)	$ (168,999)	$ (134,022)	$ (306,627)
Net loss per share available to common stockholders, basic (in dollars per share)		$ (0.06)	$ (0.80)	$ (0.59)	$ (1.47)
Net loss per share available to common stockholders, diluted (in dollars per share)		$ (0.06)	$ (0.80)	$ (0.59)	$ (1.47)
Weighted average shares used to compute net loss per share available to common stockholders, basic (in shares)		227,957	210,930	226,907	208,798
Weighted average shares used to compute net loss per share available to common stockholders, diluted (in shares)		227,957	210,930	226,907	208,798
Product
Revenue:
Total revenue	[1]	$ 233,770	$ 304,976	$ 613,442	$ 713,427
Cost of revenue:
Total cost of revenue	[2]	155,124	182,832	432,213	457,591
Installation
Revenue:
Total revenue	[1]	32,052	21,916	86,229	66,762
Cost of revenue:
Total cost of revenue	[2]	35,688	25,902	95,339	77,881
Service
Revenue:
Total revenue	[1]	50,761	47,535	159,752	130,496
Cost of revenue:
Total cost of revenue	[2]	51,363	57,370	160,270	165,877
Electricity
Revenue:
Total revenue	[1]	13,816	25,841	42,040	65,869
Cost of revenue:
Total cost of revenue	[2]	$ 9,490	$ 139,378	$ 28,310	$ 169,802
[1] Including related party revenue of $126.6 million and $335.6 million for the three and nine months ended September 30, 2024, respectively, and $125.7 million and $361.0 million for the three and nine months ended September 30, 2023, respectively. 2 Including related party cost of revenue of $0.1 million for the nine months ended September 30, 2024. Related party cost of revenue for the three months ended September 30, 2024 was immaterial. There were no related party cost of revenue for the three and nine months ended September 30, 2023. Including related party cost of revenue of $0.1 million for the nine months ended September 30, 2024. Related party cost of revenue for the three months ended September 30, 2024 was immaterial. There were no related party cost of revenue for the three and nine months ended September 30, 2023. Including related party general and administrative expenses of $0.2 million and $0.5 million for the three and nine months ended September 30, 2024. There were no related party general and administrative expenses for the three and nine months ended September 30, 2023. Including related party interest expense of $0.1 million and $0.2 million for the three and nine months ended September 30, 2024. There was no related party interest expense for the three and nine months ended September 30, 2023.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Parenthetical) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Total revenue	[1]	$ 330,399,000	$ 400,268,000	$ 901,463,000	$ 976,554,000
Cost of revenue	[2]	251,665,000	405,482,000	716,132,000	871,151,000
General and administrative	[3]	37,403,000	43,366,000	111,797,000	131,004,000
Related Party
Total revenue		126,627,000	125,676,000	335,641,000	360,981,000
Cost of revenue		48,000	0	122,000	0
General and administrative		164,000	0	525,000	0
Interest expense		$ 100,000	$ 0	$ 200,000	$ 0
[1] Including related party revenue of $126.6 million and $335.6 million for the three and nine months ended September 30, 2024, respectively, and $125.7 million and $361.0 million for the three and nine months ended September 30, 2023, respectively. 2 Including related party cost of revenue of $0.1 million for the nine months ended September 30, 2024. Related party cost of revenue for the three months ended September 30, 2024 was immaterial. There were no related party cost of revenue for the three and nine months ended September 30, 2023. Including related party cost of revenue of $0.1 million for the nine months ended September 30, 2024. Related party cost of revenue for the three months ended September 30, 2024 was immaterial. There were no related party cost of revenue for the three and nine months ended September 30, 2023. Including related party general and administrative expenses of $0.2 million and $0.5 million for the three and nine months ended September 30, 2024. There were no related party general and administrative expenses for the three and nine months ended September 30, 2023.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (14,632)	$ (168,078)	$ (132,360)	$ (312,054)
Other comprehensive income (loss), net of taxes:
Foreign currency translation adjustment	1,155	(527)	(295)	(1,520)
Other comprehensive income (loss), net of taxes	1,155	(527)	(295)	(1,520)
Comprehensive loss	(13,477)	(168,605)	(132,655)	(313,574)
Less: Comprehensive income (loss) attributable to noncontrolling interest	751	719	1,498	(5,820)
Comprehensive loss attributable to common stockholders	$ (14,228)	$ (169,324)	$ (134,153)	$ (307,754)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Stockholders’ Equity - USD ($) $ in Thousands	Total	Total Equity Attributable to Common Stockholders	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit	Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)			205,664,690
Beginning balance at Dec. 31, 2022	$ 378,816	$ 340,777	$ 20	$ 3,906,491	$ (1,251)	$ (3,564,483)	$ 38,039
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock awards (in shares)			3,496,491
ESPP purchase (in shares)			875,695
ESPP purchase	13,363	13,363		13,363
Exercise of stock options (in shares)			332,293
Exercise of stock options	2,640	2,640		2,640
Stock-based compensation	77,755	77,755		77,755
Derecognition of the pre-modification forward contract fair value	76,242	76,242		76,242
Equity component of Series B redeemable convertible preferred stock	16,145	16,145		16,145
Contributions from noncontrolling interest	6,979						6,979
Purchase of capped call related to convertible notes	(54,522)	(54,522)		(54,522)
Buyout of noncontrolling interest	(6,864)	11,482		11,482			(18,346)
Conversion of Series B redeemable convertible preferred stock (in shares)			13,491,701
Conversion of Series B redeemable convertible preferred stock	310,485	310,485	$ 1	310,484
Distributions and payments to noncontrolling interest	(2,265)						(2,265)
Foreign currency translation adjustment	(1,520)	(1,127)			(1,127)		(393)
Net (loss) income	(312,054)	(306,627)				(306,627)	(5,427)
Ending balance (in shares) at Sep. 30, 2023			223,860,870
Ending balance at Sep. 30, 2023	505,200	486,613	$ 21	4,360,080	(2,378)	(3,871,110)	18,587
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)			209,181,382
Beginning balance at Jun. 30, 2023	346,235	307,756	$ 20	4,011,900	(2,053)	(3,702,111)	38,479
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock awards (in shares)			637,728
ESPP purchase (in shares)			426,170
ESPP purchase	5,607	5,607		5,607
Exercise of stock options (in shares)			123,889
Exercise of stock options	1,138	1,138		1,138
Stock-based compensation	19,469	19,469		19,469
Buyout of noncontrolling interest	(6,864)	11,482		11,482			(18,346)
Conversion of Series B redeemable convertible preferred stock (in shares)			13,491,701
Conversion of Series B redeemable convertible preferred stock	310,485	310,485	$ 1	310,484
Distributions and payments to noncontrolling interest	(2,265)						(2,265)
Foreign currency translation adjustment	(527)	(325)			(325)		(202)
Net (loss) income	(168,078)	(168,999)				(168,999)	921
Ending balance (in shares) at Sep. 30, 2023			223,860,870
Ending balance at Sep. 30, 2023	505,200	486,613	$ 21	4,360,080	(2,378)	(3,871,110)	18,587
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)			223,860,870
Beginning balance (in shares)			224,717,533
Beginning balance at Dec. 31, 2023	520,670	502,078	$ 21	4,370,343	(1,687)	(3,866,599)	18,592
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock awards (in shares)			2,592,393
Issuance of restricted stock awards	2	2	$ 2
ESPP purchase (in shares)			1,049,955
ESPP purchase	10,344	10,344		10,344
Exercise of stock options (in shares)			149,744
Exercise of stock options	770	770		770
Stock-based compensation	53,695	53,695		53,695
Contributions from noncontrolling interest	3,958						3,958
Accrued dividend	(1,620)	(1,620)				(1,620)
Legal reserve	147	147				147
Subsidiary liquidation	(319)	(319)				(319)
Foreign currency translation adjustment	(295)	(131)			(131)		(164)
Net (loss) income	(132,360)	(134,022)				(134,022)	1,662
Ending balance (in shares) at Sep. 30, 2024			228,509,625
Ending balance at Sep. 30, 2024	454,992	430,944	$ 23	4,435,152	(1,818)	(4,002,413)	24,048
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)			227,556,594
Beginning balance at Jun. 30, 2024	446,550	423,253	$ 23	4,413,233	(2,301)	(3,987,702)	23,297
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock awards (in shares)			504,414
ESPP purchase (in shares)			417,267
ESPP purchase	4,047	4,047		4,047
Exercise of stock options (in shares)			31,350
Exercise of stock options	94	94		94
Stock-based compensation	17,778	17,778		17,778
Foreign currency translation adjustment	1,155	483			483		672
Net (loss) income	(14,632)	(14,711)				(14,711)	79
Ending balance (in shares) at Sep. 30, 2024			228,509,625
Ending balance at Sep. 30, 2024	$ 454,992	$ 430,944	$ 23	$ 4,435,152	$ (1,818)	$ (4,002,413)	$ 24,048
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)			228,509,625

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net loss		$ (132,360)	$ (312,054)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		39,165	50,283
Non-cash lease expense		27,106	24,540
(Gain) loss on disposal of property, plant and equipment		(32)	177
Revaluation of derivative contracts		316	1,213
Impairment of assets		0	130,111
Derecognition of loan commitment asset related to SK ecoplant Second Tranche Closing		0	52,792
Stock-based compensation expense		55,016	77,160
Amortization of debt issuance costs		4,936	3,300
Loss on extinguishment of debt		27,182	4,288
Gain on terminations of financing arrangements		(5,003)	0
Unrealized foreign currency exchange loss		58	3,029
Other		5	0
Changes in operating assets and liabilities:
Accounts receivable	[1]	(250,336)	(83,851)
Contract assets	[2]	(79,708)	(97,148)
Inventories		(83,244)	(206,315)
Deferred cost of revenue	[3]	5,205	(15,914)
Prepaid expenses and other current assets	[4]	2,330	(20,849)
Other long-term assets	[5]	691	13,634
Operating lease right-of-use assets and operating lease liabilities		(27,348)	(23,879)
Finance lease liabilities		493	907
Accounts payable	[6]	(1,367)	(5,695)
Accrued warranty	[7]	(4,317)	(795)
Accrued expenses and other current liabilities	[8]	612	(30,937)
Deferred revenue and customer deposits	[9]	28,790	(57,041)
Other long-term liabilities		(420)	(1,320)
Net cash used in operating activities		(392,230)	(494,364)
Cash flows from investing activities:
Purchase of property, plant and equipment		(47,746)	(67,485)
Proceeds from sale of property, plant and equipment		36	3
Net cash used in investing activities		(47,710)	(67,482)
Cash flows from financing activities:
Proceeds from issuance of debt	[10]	402,500	633,983
Payment of debt issuance costs		(12,761)	(19,539)
Repayment of debt		(140,990)	(191,390)
Proceeds from financing obligations		1,798	2,702
Repayment of financing obligations		(19,766)	(13,475)
Proceeds from issuance of common stock		11,116	16,003
Distributions and payments to noncontrolling interests		0	(2,265)
Proceeds from issuance of redeemable convertible preferred stock		0	310,957
Contributions from noncontrolling interest		3,958	6,979
Dividend paid		(1,468)	0
Buyout of noncontrolling interest		0	(6,864)
Purchase of capped call related to convertible notes		0	(54,522)
Other		0	(408)
Net cash provided by financing activities		244,387	682,161
Effect of exchange rate changes on cash, cash equivalent, and restricted cash		(474)	(985)
Net (decrease) increase in cash, cash equivalents, and restricted cash		(196,027)	119,330
Beginning of period		745,178	518,366
End of period		549,151	637,696
Supplemental disclosure of cash flow information:
Cash paid during the period for interest		34,551	32,741
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		27,160	23,684
Operating cash flows from finance leases		187	804
Cash paid during the period for income taxes		1,283	1,332
Non-cash investing and financing activities:
Liabilities recorded for property, plant and equipment, net		2,278	5,702
Recognition of operating lease right-of-use asset during the year-to-date period		8,193	14,157
Recognition of finance lease right-of-use asset during the year-to-date period		493	907
Derecognition of financing obligations		21,387	0
Derecognition of the pre-modified forward contract fair value		0	76,242
Equity component of redeemable convertible preferred stock		0	16,145
Conversion of Series B redeemable convertible preferred stock		$ 0	$ 310,484
[1] Including changes in related party balances of $87.5 million and $243.6 million for the nine months ended September 30, 2024, and 2023, respectively. Including changes in related party balances of $6.1 million and $3.4 million for the nine months ended September 30, 2024, and 2023, respectively. Including changes in related party balances of $0.9 million and $23.4 million for the nine months ended September 30, 2024, and 2023, respectively. Including changes in related party balances of $1.2 million for the nine months ended September 30, 2024. There were no associated related party balances as of September 30, 2023. Including immaterial changes in related party balances for the nine months ended September 30, 2024. There were no associated related party balances as of September 30, 2023. Including changes in related party balances of $0.1 million for the nine months ended September 30, 2024. There were no associated related party balances as of September 30, 2023. Including changes in related party balances of $1.5 million and $0.9 million for the nine months ended September 30, 2024, and 2023, respectively. Including changes in related party balances of $4.2 million and $5.7 million for the nine months ended September 30, 2024, and 2023, respectively. Including changes in related party balances of $4.9 million and $11.1 million for the nine months ended September 30, 2024, and 2023, respectively.

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($)		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023
Increase (decrease) in accounts receivable	[1]	$ 250,336,000	$ 83,851,000
Increase in contract assets	[2]	79,708,000	97,148,000
Increase (decrease) in deferred charges	[3]	(5,205,000)	15,914,000
Increase (decrease) in prepaid expense and other assets	[4]	(2,330,000)	20,849,000
Increase (decrease) in other noncurrent assets	[5]	(691,000)	(13,634,000)
Accounts payable	[6]	(1,367,000)	(5,695,000)
Accrued warranty	[7]	(4,317,000)	(795,000)
Accrued expenses and other current liabilities	[8]	612,000	(30,937,000)
Deferred revenue and customer deposits	[9]	28,790,000	(57,041,000)
Proceeds from issuance of debt	[10]	402,500,000	633,983,000
Related Party
Increase (decrease) in accounts receivable		87,500,000	243,600,000
Increase in contract assets		6,100,000	3,400,000
Increase (decrease) in deferred charges		900,000	23,400,000
Increase (decrease) in prepaid expense and other assets		1,200,000	0
Increase (decrease) in other noncurrent assets		0	0
Accounts payable		100,000	0
Accrued warranty		1,500,000	900,000
Accrued expenses and other current liabilities		4,200,000	5,700,000
Deferred revenue and customer deposits		4,900,000	11,100,000
Proceeds from issuance of debt		$ 100,000	$ 0
[1] Including changes in related party balances of $87.5 million and $243.6 million for the nine months ended September 30, 2024, and 2023, respectively. Including changes in related party balances of $6.1 million and $3.4 million for the nine months ended September 30, 2024, and 2023, respectively. Including changes in related party balances of $0.9 million and $23.4 million for the nine months ended September 30, 2024, and 2023, respectively. Including changes in related party balances of $1.2 million for the nine months ended September 30, 2024. There were no associated related party balances as of September 30, 2023. Including immaterial changes in related party balances for the nine months ended September 30, 2024. There were no associated related party balances as of September 30, 2023. Including changes in related party balances of $0.1 million for the nine months ended September 30, 2024. There were no associated related party balances as of September 30, 2023. Including changes in related party balances of $1.5 million and $0.9 million for the nine months ended September 30, 2024, and 2023, respectively. Including changes in related party balances of $4.2 million and $5.7 million for the nine months ended September 30, 2024, and 2023, respectively. Including changes in related party balances of $4.9 million and $11.1 million for the nine months ended September 30, 2024, and 2023, respectively.

Nature of Business, Liquidity a

Nature of Business, Liquidity and Basis of Presentation	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business, Liquidity and Basis of Presentation	Nature of Business, Liquidity and Basis of Presentation Nature of Business For information on the nature of our business, see Part II, Item 8, Note 1 — Nature of Business, Liquidity and Basis of Presentation, Nature of Business section in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Liquidity We have generally incurred operating losses and negative cash flows from operations since our inception. With the series of new debt offerings, debt extinguishments, and conversions to equity that we completed since 2021, we had $1,122.9 million and $4.6 million of total outstanding recourse and non-recourse debt, respectively, as of September 30, 2024, $114.1 million and $1,013.3 million of which was classified as short-term debt and long-term debt, respectively. On May 29, 2024, we issued 3% Green Convertible Senior Notes (the “3% Green Notes due June 2029”) in an aggregate principal amount of $402.5 million due June 2029, unless earlier repurchased, redeemed or converted, less the initial purchasers’ discount of $12.1 million and other issuance costs of $0.7 million, resulting in net proceeds of $389.7 million. On May 29, 2024, we used approximately $141.8 million of the net proceeds from this issuance to repurchase $115.0 million, or 50%, of the outstanding principal amount of our 2.5% Green Convertible Senior Notes due August 2025 (the “2.5% Green Notes”) in privately negotiated transactions. The repurchase amount equaled 122.6% of the principal amount repurchased, plus related accrued and unpaid interest. For additional information, please see Part I, Item 1, Note 7 — Outstanding Loans and Security Agreements . Our future capital requirements depend on many factors, including our rate of revenue growth, the timing and extent of spending on research and development efforts and other business initiatives, the rate of growth in the volume of system builds and the need for additional working capital, the expansion of sales and marketing activities both in domestic and international markets, market acceptance of our products, our ability to secure financing for customer use of our products, the timing of installations and of inventory build in anticipation of future sales and installations, and overall economic conditions. In order to support and achieve our future growth plans, we may need or seek advantageously to obtain additional funding through equity or debt financing. Failure to obtain this financing on favorable terms or at all in future quarters may affect our financial position and results of operations, including our revenues and cash flows. In the opinion of management, the combination of our existing cash and cash equivalents and expected timing of operating cash flows is expected to be sufficient to meet our operational and capital cash flow requirements and other cash flow needs for the next 12 months from the date of issuance of this Quarterly Report on Form 10-Q. Inflation Reduction Act of 2022 On March 29, 2024, we received notification from the Internal Revenue Service (the “IRS”) of the acceptance of our application for a Qualifying Advanced Energy Project Credit of up to $75.3 million. The application for qualifying advanced energy project credit allocation under Internal Revenue Code Section 48C(e) for the manufacturing facility in Fremont, California (the “Facility”), was submitted by Bloom on December 21, 2023. After a technical review of Bloom’s Section 48C(e) application, the Department of Energy provided a recommendation to the IRS to grant a $75.3 million credit allocation for the Facility. The approval is subject to satisfaction of the underlying certification requirements, including the prevailing wage and apprenticeship requirements, within two years from the date of the application acceptance. For information on the Inflation Reduction Act of 2022 (the “IRA”) signed into law on August 16, 2022, and its impact on our business, see Part II, Item 8, Note 1 — Nature of Business, Liquidity and Basis of Presentation, Inflation Reduction Act of 2022 section in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Basis of Presentation We have prepared the unaudited condensed consolidated financial statements included herein pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”), and as permitted by those rules, including all disclosures required by generally accepted accounting principles as applied in the United States (“U.S. GAAP”). Certain prior period amounts have been reclassified to conform to the current period presentation. Principles of Consolidation For information on the principles of consolidation, see Part II, Item 8, Note 1 — Nature of Business, Liquidity and Basis of Presentation, Principles of Consolidation section in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Use of Estimates For information on the use of accounting estimates, see Part II, Item 8, Note 1 — Nature of Business, Liquidity and Basis of Presentation, Use of Estimates section in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Concentration of Risk Geographic Risk — The majority of our revenue and long-lived assets are attributable to operations in the U.S. for all periods presented. In addition to shipments in the U.S., we also ship our products to other countries, primarily, the Republic of Korea, Japan, India, and Taiwan (collectively referred to as the “Asia Pacific region”). For the three and nine months ended September 30, 2024, total revenue in the U.S. was 52% and 60%, respectively, of our total revenue. For the three and nine months ended September 30, 2023, total revenue in the U.S. was 65% and 76%, respectively, of our total revenue. Credit Risk — At September 30, 2024, two customers, the first of which is our related party (see Note 10 — Related Party Transactions ), accounted for approximately 59% and 18% of accounts receivable, respectively. At December 31, 2023, one customer, that is our related party, accounted for approximately 74% of accounts receivable. To date, we have not experienced any credit losses. Customer Risk — During the three months ended September 30, 2024, revenue from three customers, the first of which is our related party (see Note 10 — Related Party Transactions ), accounted for approximately 38%, 20%, and 10% of our total revenue, respectively. During the nine months ended September 30, 2024, two customers, the first of which is our related party (see Note 10 — Related Party Transactions ), represented approximately 37% and 21% of our total revenue, respectively. During the three months ended September 30, 2023, revenue from two customers, the second of which is our related party (see Note 10 — Related Party Transactions ), accounted for approximately 40% and 31% of our total revenue. During the nine months ended September 30, 2023, two customers, the first of which is our related party (see Note 10 — Related Party Transactions ), represented approximately 36% and 24% of our total revenue.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Refer to the accounting policies described in Part II, Item 8, Note 2 — Summary of Significant Accounting Policies in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Accounting Guidance Not Yet Adopted Refer to the accounting guidance not yet adopted described in Part II, Item 8, Note 2 — Summary of Significant Accounting Policies — Accounting Guidance Not Yet Adopted section in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Based on the Company’s continued evaluation, we do not expect a material impact from new accounting guidance not yet adopted to our unaudited condensed consolidated financial statements. Recent Accounting Pronouncements There have been no significant changes in our reported financial position or results of operations and cash flows resulting from the adoption of new accounting pronouncements.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Contract Balances The following table provides information about accounts receivables, contract assets, customer deposits and deferred revenue from contracts with customers (in thousands): September 30, December 31, 2024 2023 Accounts receivable $ 590,794 $ 340,740 Contract assets 121,074 41,366 Customer deposits 121,507 75,734 Deferred revenue 55,345 72,328 The increase in accounts receivable of $250.1 million for the nine months ended September 30, 2024, was driven by the timing of transactions, increase in payment terms, and a change in customer mix. Refer to Note 1 — Nature of Business, Liquidity and Basis of Presentation for discussion of credit risk associated with our accounts receivable. The increase in contract assets of $79.7 million for the nine months ended September 30, 2024, was driven by the timing of achieving billing milestones. The increase in customer deposits of $45.8 million for the nine months ended September 30, 2024, was driven by receipt of new deposits, partially offset by certain deposits becoming non-refundable. For details on nature and balance sheet classification of contract balances, refer to Part II, Item 8, Note 3 — Revenue Recognition — Contract Balances in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Contract Assets Three Months Ended Nine Months Ended 2024 2023 2024 2023 Beginning balance $ 90,388 $ 35,182 $ 41,366 $ 46,727 Transferred to accounts receivable from contract assets recognized at the beginning of the period (17,193) (8,284) (28,926) (31,968) Revenue recognized and not billed as of the end of the period 47,879 116,977 108,634 129,116 Ending balance $ 121,074 $ 143,875 $ 121,074 $ 143,875 Deferred Revenue Deferred revenue activity during the three and nine months ended September 30, 2024, and 2023, consisted of the following (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Beginning balance $ 55,965 $ 85,110 $ 72,328 $ 94,355 Additions 245,547 243,545 651,461 733,891 Revenue recognized (246,167) (261,042) (668,444) (760,633) Ending balance $ 55,345 $ 67,613 $ 55,345 $ 67,613 For details on deferred revenue, refer to Part II, Item 8, Note 3 — Revenue Recognition — Deferred Revenue in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. We do not disclose the value of the unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which we recognize revenue at the amount to which we have the right to invoice for services performed. Disaggregated Revenue We disaggregate revenue from contracts with customers into four revenue categories: product, installation, services and electricity (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Revenue from contracts with customers: Product revenue $ 233,770 $ 304,976 $ 613,442 $ 713,427 Installation revenue 32,052 21,916 86,229 66,762 Services revenue 50,761 47,535 159,752 130,496 Electricity revenue 5,213 9,012 15,012 16,816 Total revenue from contracts with customers 321,796 383,439 874,435 927,501 Revenue from contracts that contain leases: Electricity revenue 8,603 16,829 27,028 49,053 Total revenue $ 330,399 $ 400,268 $ 901,463 $ 976,554

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2024
Cash and Cash Equivalents [Abstract]
Financial Instruments	Financial Instruments Cash, Cash Equivalents, and Restricted Cash The carrying values of cash, cash equivalents, and restricted cash approximate fair values and were as follows (in thousands): September 30, December 31, 2024 2023 As Held: Cash $ 82,492 $ 144,102 Money market funds 466,659 601,076 $ 549,151 $ 745,178 As Reported: Cash and cash equivalents $ 495,677 $ 664,593 Restricted cash 53,474 80,585 $ 549,151 $ 745,178 Restricted cash consisted of the following (in thousands): September 30, December 31, 2024 2023 Restricted cash, current $ 22,548 $ 46,821 Restricted cash, non-current 30,926 33,764 $ 53,474 $ 80,585 Factoring Arrangements We sell certain customer trade receivables on a non-recourse basis under factoring arrangements with a financial institution. These transactions are accounted for as sales, and cash proceeds are included in net cash used in operating activities. We derecognized $81.9 million and $184.2 million of accounts receivable during the three and nine months ended September 30, 2024, respectively. We derecognized $108.0 million and $167.6 million of accounts receivable during the three and nine months ended September 30, 2023, respectively. The cost of factoring such accounts receivable on our condensed consolidated statements of operations for the three and nine months ended September 30, 2024, was $1.6 million and $4.0 million, respectively. The cost of factoring such accounts receivable on our condensed consolidated statements of operations for the three and nine months ended September 30, 2023, was $2.0 million and $2.7 million, respectively. The cost of factoring is recorded in general and administrative expenses.

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value	Fair Value Our accounting policy for the fair value measurement of cash equivalents and embedded Escalation Protection Plan (“EPP”) derivatives is described in Part II, Item 8 Note 2 — Summary of Significant Accounting Policies in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 . Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis The tables below set forth, by level, our financial assets and liabilities that are accounted for at fair value for the respective periods. The table does not include assets and liabilities that are measured at historical cost or any basis other than fair value (in thousands): Fair Value Measured at Reporting Date Using September 30, 2024 Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 466,659 $ — $ — $ 466,659 $ 466,659 $ — $ — $ 466,659 Liabilities Derivatives: Embedded EPP derivatives $ — $ — $ 4,692 $ 4,692 $ — $ — $ 4,692 $ 4,692 Fair Value Measured at Reporting Date Using December 31, 2023 Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 601,076 $ — $ — $ 601,076 $ 601,076 $ — $ — $ 601,076 Liabilities Derivatives: Embedded EPP derivatives $ — $ — $ 4,376 $ 4,376 $ — $ — $ 4,376 $ 4,376 Money Market Funds — Money market funds are valued using quoted market prices for identical securities and are therefore classified as Level 1 financial assets. Embedded Escalation Protection Plan Derivative Liability in Sales Contracts — We estimate the fair value of the embedded EPP derivatives in certain sales contracts using a Monte Carlo simulation model, which considers various potential electricity price curves over the sales contracts’ terms. We use historical grid prices and available forecasts of future electricity prices to estimate future electricity prices. We have classified these derivatives as a Level 3 financial liability. The changes in the Level 3 financial liabilities during the nine months ended September 30, 2024, were as follows (in thousands): Embedded EPP Derivative Liability Liabilities at December 31, 2023 $ 4,376 Changes in fair value 316 Liabilities at September 30, 2024 $ 4,692 For more details on EPP derivatives, refer to Part II, Item 8 Note 5 — Fair Value in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 . Financial Assets and Liabilities Not Measured at Fair Value on a Recurring Basis Debt Instruments — The term loans and convertible senior notes are based on rates currently offered for instruments with similar maturities and terms (Level 2). The following table presents the estimated fair values and carrying values of debt instruments (in thousands): September 30, 2024 December 31, 2023 Net Carrying Fair Value Net Carrying Fair Value Debt instruments Recourse: 3% Green Convertible Senior Notes due June 2029 $ 390,602 $ 337,215 $ — $ — 3% Green Convertible Senior Notes due June 2028 618,132 574,690 615,205 673,613 2.5% Green Convertible Senior Notes due August 2025 114,139 118,013 226,801 260,820 Non-recourse: 4.6% Term Loan due October 2026 $ 3,042 $ 3,028 $ 3,085 $ 2,866 4.6% Term Loan due April 2026 1,521 1,563 1,542 1,479 All financial assets were measured at fair value on a recurring basis as of September 30, 2024, and December 31, 2023.

Balance Sheet Components

Balance Sheet Components	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet Components	Balance Sheet Components Inventories The components of inventory consisted of the following (in thousands): September 30, December 31, 2024 2023 Raw materials $ 339,023 $ 270,414 Work-in-progress 105,207 50,632 Finished goods 140,254 181,469 $ 584,484 $ 502,515 Inventory reserves were $17.3 million and $18.7 million as of September 30, 2024, and December 31, 2023, respectively. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following (in thousands): September 30, December 31, 2024 2023 Prepaid managed services $ 5,682 $ 5,636 Tax receivables 5,413 3,231 Prepaid hardware and software maintenance 4,123 5,202 Receivables from employees 4,028 6,538 Prepaid workers compensation 3,515 6,851 Advance income tax provision 2,819 2,557 Prepaid rent 1,815 1,232 Interest receivable 1,719 1,697 Prepaid deferred commissions 1,123 1,178 Deferred expenses 1,101 2,257 Deposits made 972 1,702 Other prepaid expenses and other current assets 15,353 13,067 $ 47,663 $ 51,148 Property, Plant and Equipment, Net Property, plant and equipment, net consisted of the following (in thousands): September 30, December 31, 2024 2023 Energy Servers $ 290,277 $ 309,770 Vehicles, machinery and equipment 199,541 174,549 Leasehold improvements 122,078 94,646 Construction-in-progress 84,170 104,650 Buildings 53,163 49,477 Computers, software and hardware 34,022 28,901 Furniture and fixtures 10,949 12,541 794,200 774,534 Less: accumulated depreciation (309,695) (281,182) $ 484,505 $ 493,352 Depreciation expense related to property, plant and equipment was $13.3 million and $39.2 million for the three and nine months ended September 30, 2024, respectively. Depreciation expense related to property, plant and equipment for the three and nine months ended September 30, 2023, was $14.6 million and $50.3 million, respectively. Depreciation expense for property, plant and equipment under operating leases by Power Purchase Agreement (“PPA”) entities was $3.7 million and $10.9 million for the three and nine months ended September 30, 2023, respectively. There was no depreciation expense for such assets for the three and nine months ended September 30, 2024. Other Long-Term Assets Other long-term assets consisted of the following (in thousands): September 30, December 31, 2024 2023 Deferred commissions $ 12,500 $ 9,373 Deferred expenses 9,064 9,069 Long-term lease receivable 6,241 7,335 Deposits made 3,157 3,157 Prepaid managed services 1,847 1,646 Deferred tax asset 1,377 1,385 Prepaid and other long-term assets 15,330 18,243 $ 49,516 $ 50,208 Accrued Warranty and Product Performance Liabilities Accrued warranty and product performance liabilities consisted of the following (in thousands): September 30, December 31, 2024 2023 Product performance $ 12,201 $ 18,066 Product warranty 2,808 1,260 $ 15,009 $ 19,326 Changes in the product warranty and product performance liabilities were as follows (in thousands): Balances at December 31, 2023 $ 19,326 Accrued warranty, net and product performance liabilities 14,466 Product performance expenditures during the period (18,783) Balances at September 30, 2024 $ 15,009 Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following (in thousands): September 30, December 31, 2024 2023 Compensation and benefits $ 45,242 $ 47,901 General invoice and purchase order accruals 41,324 36,266 Interest payable 11,018 3,823 Sales tax liabilities 9,357 17,412 Sales-related liabilities 8,862 5,121 Accrued installation 3,471 4,939 Provision for income tax 2,754 3,374 Accrued legal expenses 2,306 1,359 Accrued consulting expenses 1,823 3,244 Finance lease liability 826 1,072 Accrued restructuring costs (Note 11) 481 3,793 Other 2,867 2,575 $ 130,331 $ 130,879

Outstanding Loans and Security

Outstanding Loans and Security Agreements	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Outstanding Loans and Security Agreements	Outstanding Loans and Security Agreements The following is a summary of our debt as of September 30, 2024 (in thousands, except percentage data): Unpaid Net Carrying Value Interest Maturity Dates Entity Current Long- Total 3% Green Convertible Senior Notes due June 2029 $ 402,500 $ — $ 390,602 $ 390,602 3.0% June 2029 Company 3% Green Convertible Senior Notes due June 2028 632,500 — 618,132 618,132 3.0% June 2028 Company 2.5% Green Convertible Senior Notes due August 2025 115,000 114,139 — 114,139 2.5% August 2025 Company Total recourse debt 1,150,000 114,139 1,008,734 1,122,873 4.6% Term Loan due October 2026 3,042 — 3,042 3,042 4.6% October 2026 Korean JV 4.6% Term Loan due April 2026 1,521 — 1,521 1,521 4.6% April 2026 Korean JV Total non-recourse debt 4,563 — 4,563 4,563 Total debt $ 1,154,563 $ 114,139 $ 1,013,297 $ 1,127,436 The following is a summary of our debt as of December 31, 2023 (in thousands, except percentage data): Unpaid Net Carrying Value Interest Maturity Dates Entity Current Long- Total 3% Green Convertible Senior Notes due June 2028 $ 632,500 $ — $ 615,205 $ 615,205 3.0% June 2028 Company 2.5% Green Convertible Senior Notes due August 2025 230,000 — 226,801 226,801 2.5% August 2025 Company Total recourse debt 862,500 — 842,006 842,006 4.6% Term Loan due October 2026 3,085 — 3,085 3,085 4.6% October 2026 Korean JV 4.6% Term Loan due April 2026 1,542 — 1,542 1,542 4.6% April 2026 Korean JV Total non-recourse debt 4,627 — 4,627 4,627 Total debt $ 867,127 $ — $ 846,633 $ 846,633 Recourse debt refers to debt that we have an obligation to pay. Non-recourse debt refers to debt that is recourse to only our subsidiary, Bloom SK Fuel Cell, LLC, a joint venture in the Republic of Korea with SK ecoplant (the “Korean JV”). The differences between the unpaid principal balances and the net carrying values apply to deferred financing costs. We and our subsidiary were in compliance with all covenants as of September 30, 2024, and December 31, 2023. Recourse Debt Facilities 3% Green Convertible Senior Notes due June 2029 On May 29, 2024, we issued the 3% Green Notes due June 2029 in an aggregate principal amount of $402.5 million due on June 1, 2029, unless earlier repurchased, redeemed or converted, less an initial purchasers’ discount of $12.1 million and other issuance costs of $0.7 million (together, the “Transaction Costs”), resulting in net proceeds of $389.7 million. The 3% Green Notes due June 2029 were issued pursuant to, and are governed by, an indenture (the “Indenture”), dated as of May 29, 2024, between us and U.S. Bank Trust Company, National Association, as Trustee, in private placements to qualified institutional buyers pursuant to Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”). Pursuant to the purchase agreement among the Company and the representatives of the initial purchasers of the 3% Green Notes due June 2029, the Company granted the initial purchasers an option to purchase up to an additional $52.5 million aggregate principal amount of the 3% Green Notes due June 2029 (the “Greenshoe Option”). The 3% Green Notes due June 2029 issued on May 29, 2024, included $52.5 million aggregate principal amount pursuant to the full exercise by the initial purchasers of the Greenshoe Option. The 3% Green Notes due June 2029 are senior, unsecured obligations accruing interest at a rate of 3% per annum, payable semi-annually in arrears on June 1 and December 1 of each year, beginning on December 1, 2024. We may not redeem the 3% Green Notes due June 2029 prior to June 7, 2027, subject to a partial redemption limitation. We may elect to redeem, at face value, all or any portion of the 3% Green Notes due June 2029 at any time, and from time to time, on or after June 7, 2027 and on or before the twenty-first scheduled trading day immediately before the maturity date, provided the share price for our Class A common stock exceeds 130% of the conversion price at redemption. Before March 1, 2029, the noteholders have the right to convert their 3% Green Notes due June 2029 only upon the occurrence of certain events, including satisfaction of a condition relating to the closing price of our common stock (the “Closing Price Condition”) or the trading price of the 3% Green Notes due June 2029 (the “Trading Price Condition”), a redemption event, or other specified corporate events. If the Closing Price Condition is met on at least 20 (whether or not consecutive) of the last 30 consecutive trading days in any calendar quarter, and only during such calendar quarter, the noteholders may convert their 3% Green Notes due June 2029 at any time during the immediately following quarter, commencing after the calendar quarter ending on September 30, 2024, subject to the partial redemption limitation. Subject to the Trading Price Condition, the noteholders may convert their 3% Green Notes due June 2029 during the five business days immediately after any five consecutive trading day period in which the trading price per $1,000 principal amount of the 3% Green Notes due June 2029, as determined following a request by a holder of the 3% Green Notes due June 2029, for each day of that period is less than 98% of the product of the closing price of our common stock and the then applicable conversion rate. From and after March 1, 2029, the noteholders may convert their 3% Green Notes due June 2029 at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. Should the noteholders elect to convert their 3% Green Notes due June 2029, we may elect to settle the conversion by paying or delivering, as applicable, cash, shares of our Class A common stock, $0.0001 par value per share, or a combination thereof, at our election. The initial conversion rate is 47.9795 shares of Class A common stock per $1,000 principal amount of notes, which represents an initial conversion price of approximately $20.84 per share of Class A common stock. The conversion rate and conversion price are subject to customary adjustments upon the occurrence of certain events. Also, we may increase the conversion rate at any time if our Board of Directors determines it is in the best interests of the Company or to avoid or diminish income tax to holders of common stock. In addition, if certain corporate events that constitute a Make-Whole Fundamental Change, as defined below, occur, then the conversion rate applicable to the conversion of the 3% Green Notes due June 2029 will, in certain circumstances, increase by up to 15.5932 shares of Class A common stock per $1,000 principal amount of notes for a specified period of time. At September 30, 2024, the maximum number of shares into which the 3% Green Notes due June 2029 could have been potentially converted if the conversion features were triggered was 25,588,011 shares of Class A common stock. According to the Indenture, a Make-Whole Fundamental Change means (i) a Fundamental Change, that includes certain change-of-control events relating to us, certain business combination transactions involving us and certain delisting events with respect to our Class A common stock, or (ii) the sending of a redemption notice with respect to the 3% Green Notes due June 2029. The 3% Green Notes due June 2029 contain certain customary provisions relating to the occurrence of Events of Default, as defined in the Indenture. If an Event of Default involving bankruptcy, insolvency or reorganization events with respect to us occurs, then the principal amount of, and all accrued and unpaid interest on, all of the 3% Green Notes due June 2029 then outstanding will immediately become due and payable without any further action or notice by any person. However, notwithstanding the foregoing, we may elect, at our option, that the sole remedy for an Event of Default relating to certain failures by us to comply with certain reporting covenants in the Indenture consists exclusively of the right of the noteholders to receive special interest on the 3% Green Notes due June 2029 for up to 180 days at a specified rate per annum not exceeding 0.5% on the principal amount of the 3% Green Notes due June 2029. The Transaction Costs were recorded as debt issuance costs and represented a reduction to the 3% Green Notes due June 2029 on our condensed consolidated balance sheets and are amortized to interest expense at an effective interest rate of 3.8%. Total interest expense recognized related to the 3% Green Notes due June 2029 for the three and nine months ended September 30, 2024, was $3.7 million and $5.0 million, respectively, and was comprised of contractual interest expense of $3.0 million and $4.1 million and amortization of the initial purchasers’ discount and other issuance costs of $0.7 million and $0.9 million, respectively. We have not recognized any special interest expense related to the 3% Green Notes due June 2029 to date. The amount of unamortized debt issuance costs as of September 30, 2024, was $11.9 million. Although the 3% Green Notes due June 2029 contain embedded conversion features, we account for the 3% Green Notes due June 2029 in its entirety as a liability. As of September 30, 2024, the net carrying value of the 3% Green Notes due June 2029 was classified as a long-term liability in our condensed consolidated balance sheets. 3% Green Convertible Senior Notes due June 2028 and Capped Call Transactions Please refer to Part II, Item 8, Note 7 — Outstanding Loans and Security Agreements in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, for discussion of our 3% Green Convertible Senior Notes due June 2028 (the “3% Green Notes due June 2028”) and privately negotiated capped call transactions in connection with the pricing of the 3% Green Notes due June 2028. The noteholders could not convert their 3% Green Notes due June 2028 during the quarter ended September 30, 2024, as the Closing Price Condition, as defined in the indenture, dated as of May 16, 2023, between us and U.S. Bank Trust Company, National Association, as trustee, was not met during the three months ended June 30, 2024, as per the indenture, dated as of May 16, 2023. Total interest expense recognized related to the 3% Green Notes due June 2028 for the three and nine months ended September 30, 2024, was $5.7 million and $17.1 million, respectively, and was comprised of contractual interest expense of $4.7 million and $14.1 million and amortization of the initial purchasers’ discount and other issuance costs of $1.0 million and $3.0 million, respectively. Total interest expense recognized related to the 3% Green Notes due June 2028 for the three and nine months ended September 30, 2023, was $5.7 million and $8.7 million, respectively, and was comprised of contractual interest expense of $4.7 million and $7.2 million and amortization of the initial purchasers’ discount and other issuance costs of $1.0 million and $1.5 million, respectively. We have not recognized any special interest expense related to the 3% Green Notes due June 2028 to date. The amount of unamortized debt issuance costs as of September 30, 2024, and December 31, 2023, was $14.3 million and $17.3 million, respectively. 2.5% Green Convertible Senior Notes due August 2025 Please refer to Part II, Item 8, Note 7 — Outstanding Loans and Security Agreements in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, for discussion of our 2.5% Green Notes. The noteholders could not convert their 2.5% Green Notes during the quarter ended September 30, 2024, as the Closing Price Condition, as defined in the indenture, dated as of August 11, 2020, between us and U.S. Bank National Association, as trustee, was not met during the three months ended June 30, 2024, as per the indenture, dated as of August 11, 2020. On May 29, 2024, we used approximately $141.8 million of the net proceeds from the 3% Green Notes due June 2029 offering to repurchase $115.0 million of the outstanding principal amount of our 2.5% Green Notes in privately negotiated transactions. Half of the original principal balance, $115.0 million of the 2.5% Green Notes, was called and repurchased at 122.6% during the three months ended June 30, 2024. The 22.6% premium of $26.0 million and unpaid accrued interest of $0.8 million related to the repurchased amount were included in the final payment to the noteholders. As a result of partial repurchase of the 2.5% Green Notes, we recognized a loss on extinguishment of debt of $27.2 million. Total interest expense recognized related to the 2.5% Green Notes for the three and nine months ended September 30, 2024, was $1.0 million and $4.5 million, respectively, and was comprised of contractual interest expense of $0.7 million and $3.3 million and amortization of issuance costs of $0.3 million and $1.2 million, respectively. The effective interest rate of the 2.5% Green Notes after partial repurchase was 3.3%. Total interest expense recognized related to the 2.5% Green Notes for the three and nine months ended September 30, 2023, was $1.9 million and $5.8 million, respectively, and was comprised of contractual interest expense of $1.4 million and $4.3 million and amortization of issuance costs of $0.5 million and $1.5 million, respectively. We have not recognized any special interest expense related to the 2.5% Green Notes to date. The amount of unamortized debt issuance costs as of September 30, 2024, and December 31, 2023, was $0.8 million and $3.2 million, respectively. As of September 30, 2024, and December 31, 2023, the net carrying value of the 2.5% Green Notes was classified as a short-term liability and as a long-term liability in our condensed consolidated balance sheets, respectively. Non-recourse Debt Facilities Please refer to Part II, Item 8, Note 7 — Outstanding Loans and Security Agreements in our Annual Form 10-K for the fiscal year ended December 31, 2023, for discussion of our non-recourse debt. Repayment Schedule and Interest Expense The following table presents details of our outstanding loan principal repayment schedule as of September 30, 2024 (in thousands): Remainder of 2024 $ — 2025 115,000 2026 4,563 2027 — 2028 632,500 Thereafter 402,500 $ 1,154,563

Leases

Leases	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Leases	Leases Facilities, Energy Servers, and Vehicles For the three and nine months ended September 30, 2024, rent expense for all occupied facilities was $5.6 million and $16.8 million, respectively. For the three and nine months ended September 30, 2023, rent expense for all occupied facilities was $5.7 million and $17.0 million, respectively. Operating and financing lease right-of-use assets and lease liabilities as of September 30, 2024, and December 31, 2023, were as follows (in thousands): September 30, December 31, 2024 2023 Operating Leases: Operating lease right-of-use assets, net 1, 2 $ 133,143 $ 139,732 Current operating lease liabilities (20,195) (20,245) Non-current operating lease liabilities (135,159) (141,939) Total operating lease liabilities $ (155,354) $ (162,184) Finance Leases: Finance lease right-of-use assets, net 2, 3, 4 $ 2,334 $ 2,708 Current finance lease liabilities 5 (826) (1,072) Non-current finance lease liabilities 6 (1,703) (1,837) Total finance lease liabilities $ (2,529) $ (2,909) Total lease liabilities $ (157,883) $ (165,093) 1 These assets primarily include leases for facilities, Energy Servers, and vehicles. 2 Net of accumulated amortization. 3 These assets primarily include leases for vehicles. 4 Included in property, plant and equipment, net in the condensed consolidated balance sheets. 5 Included in accrued expenses and other current liabilities in the condensed consolidated balance sheets. 6 Included in other long-term liabilities in the condensed consolidated balance sheets. The components of our lease costs for the three and nine months ended September 30, 2024, and 2023, were as follows (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Operating lease costs $ 9,048 $ 8,408 $ 26,990 $ 24,373 Financing lease costs: Amortization of right-of-use assets 120 294 611 689 Interest on lease liabilities 61 72 190 203 Total financing lease costs 181 366 801 892 Short-term lease costs 36 384 68 1,561 Total lease costs $ 9,265 $ 9,158 $ 27,859 $ 26,826 Weighted average remaining lease terms and discount rates for our leases as of September 30, 2024, and December 31, 2023, were as follows: September 30, December 31, 2024 2023 Weighted average remaining lease term: Operating leases 6.9 years 7.4 years Finance leases 3.3 years 3.2 years Weighted average discount rate: Operating leases 10.5 % 10.6 % Finance leases 9.6 % 9.5 % Future lease payments under lease agreements as of September 30, 2024, were as follows (in thousands): Operating Leases Finance Leases Remainder of 2024 $ 9,133 $ 295 2025 34,581 973 2026 34,474 754 2027 33,968 593 2028 27,985 264 2029 21,242 61 Thereafter 61,821 — Total minimum lease payments 223,204 2,940 Less: amounts representing interest or imputed interest (67,850) (411) Present value of lease liabilities $ 155,354 $ 2,529 Managed Services Financing For details on Managed Services Financing refer to Part I, Item 7, Section Purchase and Financing Options, sub-section Managed Services Financing and Part II, Item 8, Note 8 — Leases in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. We recognized $2.3 million and $9.4 million of product revenue, and $2.2 million and $4.5 million of installation revenue from successful sale-and-leaseback transactions for the three and nine months ended September 30, 2024, respectively. The recognized operating lease expense from successful sale-and-leaseback transactions for the three and nine months ended September 30, 2024, was $3.2 million and $9.5 million, respectively. We recognized $15.8 million of product revenue and $4.8 million of installation revenue from successful sale-and-leaseback transactions for the nine months ended September 30, 2023. There were no new successful sale-and-leaseback transactions during the three months ended September 30, 2023. The recognized operating lease expense from successful sale-and-leaseback transactions for the three and nine months ended September 30, 2023, was $2.6 million and $7.0 million, respectively. Operating lease right-of-use assets from successful sale-and-leaseback transactions as of September 30, 2024, and December 31, 2023, was $49.1 million and $47.6 million, respectively. Operating lease liability from successful sale-and-leaseback transactions as of September 30, 2024, and December 31, 2023, was $52.2 million and $50.1 million, including long-term operating lease liability of $44.2 million and $43.7 million, respectively. Financing obligations from successful sale-and-leaseback transactions as of September 30, 2024, and December 31, 2023, was $11.5 million and $10.9 million, including long-term financing obligations of $9.4 million and $9.3 million, respectively. At September 30, 2024, future lease payments under the Managed Services Agreements financing obligations were as follows (in thousands): Financing Obligations Remainder of 2024 $ 10,527 2025 42,541 2026 38,277 2027 22,376 2028 12,474 Thereafter 26,965 Total minimum lease payments 153,160 Less: imputed interest (76,889) Present value of net minimum lease payments 76,271 Less: current financing obligations (20,920) Long-term financing obligations $ 55,351 The total financing obligations, as reflected in our condensed consolidated balance sheets, were $411.5 million and $444.8 million as of September 30, 2024, and December 31, 2023, respectively. We expect the difference between these obligations and the principal obligations in the table above to be offset against the carrying value of the related Energy Servers at the end of the lease and the remainder recognized as either a gain or loss at that point. For the three and nine months ended September 30, 2024, we recognized a $5.0 million gain on failed sale-and-leaseback transactions in other income (expense), net on our condensed consolidated statements of operations. There were no such transactions during the three and nine months ended September 30, 2023.
Leases	Leases Facilities, Energy Servers, and Vehicles For the three and nine months ended September 30, 2024, rent expense for all occupied facilities was $5.6 million and $16.8 million, respectively. For the three and nine months ended September 30, 2023, rent expense for all occupied facilities was $5.7 million and $17.0 million, respectively. Operating and financing lease right-of-use assets and lease liabilities as of September 30, 2024, and December 31, 2023, were as follows (in thousands): September 30, December 31, 2024 2023 Operating Leases: Operating lease right-of-use assets, net 1, 2 $ 133,143 $ 139,732 Current operating lease liabilities (20,195) (20,245) Non-current operating lease liabilities (135,159) (141,939) Total operating lease liabilities $ (155,354) $ (162,184) Finance Leases: Finance lease right-of-use assets, net 2, 3, 4 $ 2,334 $ 2,708 Current finance lease liabilities 5 (826) (1,072) Non-current finance lease liabilities 6 (1,703) (1,837) Total finance lease liabilities $ (2,529) $ (2,909) Total lease liabilities $ (157,883) $ (165,093) 1 These assets primarily include leases for facilities, Energy Servers, and vehicles. 2 Net of accumulated amortization. 3 These assets primarily include leases for vehicles. 4 Included in property, plant and equipment, net in the condensed consolidated balance sheets. 5 Included in accrued expenses and other current liabilities in the condensed consolidated balance sheets. 6 Included in other long-term liabilities in the condensed consolidated balance sheets. The components of our lease costs for the three and nine months ended September 30, 2024, and 2023, were as follows (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Operating lease costs $ 9,048 $ 8,408 $ 26,990 $ 24,373 Financing lease costs: Amortization of right-of-use assets 120 294 611 689 Interest on lease liabilities 61 72 190 203 Total financing lease costs 181 366 801 892 Short-term lease costs 36 384 68 1,561 Total lease costs $ 9,265 $ 9,158 $ 27,859 $ 26,826 Weighted average remaining lease terms and discount rates for our leases as of September 30, 2024, and December 31, 2023, were as follows: September 30, December 31, 2024 2023 Weighted average remaining lease term: Operating leases 6.9 years 7.4 years Finance leases 3.3 years 3.2 years Weighted average discount rate: Operating leases 10.5 % 10.6 % Finance leases 9.6 % 9.5 % Future lease payments under lease agreements as of September 30, 2024, were as follows (in thousands): Operating Leases Finance Leases Remainder of 2024 $ 9,133 $ 295 2025 34,581 973 2026 34,474 754 2027 33,968 593 2028 27,985 264 2029 21,242 61 Thereafter 61,821 — Total minimum lease payments 223,204 2,940 Less: amounts representing interest or imputed interest (67,850) (411) Present value of lease liabilities $ 155,354 $ 2,529 Managed Services Financing For details on Managed Services Financing refer to Part I, Item 7, Section Purchase and Financing Options, sub-section Managed Services Financing and Part II, Item 8, Note 8 — Leases in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. We recognized $2.3 million and $9.4 million of product revenue, and $2.2 million and $4.5 million of installation revenue from successful sale-and-leaseback transactions for the three and nine months ended September 30, 2024, respectively. The recognized operating lease expense from successful sale-and-leaseback transactions for the three and nine months ended September 30, 2024, was $3.2 million and $9.5 million, respectively. We recognized $15.8 million of product revenue and $4.8 million of installation revenue from successful sale-and-leaseback transactions for the nine months ended September 30, 2023. There were no new successful sale-and-leaseback transactions during the three months ended September 30, 2023. The recognized operating lease expense from successful sale-and-leaseback transactions for the three and nine months ended September 30, 2023, was $2.6 million and $7.0 million, respectively. Operating lease right-of-use assets from successful sale-and-leaseback transactions as of September 30, 2024, and December 31, 2023, was $49.1 million and $47.6 million, respectively. Operating lease liability from successful sale-and-leaseback transactions as of September 30, 2024, and December 31, 2023, was $52.2 million and $50.1 million, including long-term operating lease liability of $44.2 million and $43.7 million, respectively. Financing obligations from successful sale-and-leaseback transactions as of September 30, 2024, and December 31, 2023, was $11.5 million and $10.9 million, including long-term financing obligations of $9.4 million and $9.3 million, respectively. At September 30, 2024, future lease payments under the Managed Services Agreements financing obligations were as follows (in thousands): Financing Obligations Remainder of 2024 $ 10,527 2025 42,541 2026 38,277 2027 22,376 2028 12,474 Thereafter 26,965 Total minimum lease payments 153,160 Less: imputed interest (76,889) Present value of net minimum lease payments 76,271 Less: current financing obligations (20,920) Long-term financing obligations $ 55,351 The total financing obligations, as reflected in our condensed consolidated balance sheets, were $411.5 million and $444.8 million as of September 30, 2024, and December 31, 2023, respectively. We expect the difference between these obligations and the principal obligations in the table above to be offset against the carrying value of the related Energy Servers at the end of the lease and the remainder recognized as either a gain or loss at that point. For the three and nine months ended September 30, 2024, we recognized a $5.0 million gain on failed sale-and-leaseback transactions in other income (expense), net on our condensed consolidated statements of operations. There were no such transactions during the three and nine months ended September 30, 2023.
Leases	Leases Facilities, Energy Servers, and Vehicles For the three and nine months ended September 30, 2024, rent expense for all occupied facilities was $5.6 million and $16.8 million, respectively. For the three and nine months ended September 30, 2023, rent expense for all occupied facilities was $5.7 million and $17.0 million, respectively. Operating and financing lease right-of-use assets and lease liabilities as of September 30, 2024, and December 31, 2023, were as follows (in thousands): September 30, December 31, 2024 2023 Operating Leases: Operating lease right-of-use assets, net 1, 2 $ 133,143 $ 139,732 Current operating lease liabilities (20,195) (20,245) Non-current operating lease liabilities (135,159) (141,939) Total operating lease liabilities $ (155,354) $ (162,184) Finance Leases: Finance lease right-of-use assets, net 2, 3, 4 $ 2,334 $ 2,708 Current finance lease liabilities 5 (826) (1,072) Non-current finance lease liabilities 6 (1,703) (1,837) Total finance lease liabilities $ (2,529) $ (2,909) Total lease liabilities $ (157,883) $ (165,093) 1 These assets primarily include leases for facilities, Energy Servers, and vehicles. 2 Net of accumulated amortization. 3 These assets primarily include leases for vehicles. 4 Included in property, plant and equipment, net in the condensed consolidated balance sheets. 5 Included in accrued expenses and other current liabilities in the condensed consolidated balance sheets. 6 Included in other long-term liabilities in the condensed consolidated balance sheets. The components of our lease costs for the three and nine months ended September 30, 2024, and 2023, were as follows (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Operating lease costs $ 9,048 $ 8,408 $ 26,990 $ 24,373 Financing lease costs: Amortization of right-of-use assets 120 294 611 689 Interest on lease liabilities 61 72 190 203 Total financing lease costs 181 366 801 892 Short-term lease costs 36 384 68 1,561 Total lease costs $ 9,265 $ 9,158 $ 27,859 $ 26,826 Weighted average remaining lease terms and discount rates for our leases as of September 30, 2024, and December 31, 2023, were as follows: September 30, December 31, 2024 2023 Weighted average remaining lease term: Operating leases 6.9 years 7.4 years Finance leases 3.3 years 3.2 years Weighted average discount rate: Operating leases 10.5 % 10.6 % Finance leases 9.6 % 9.5 % Future lease payments under lease agreements as of September 30, 2024, were as follows (in thousands): Operating Leases Finance Leases Remainder of 2024 $ 9,133 $ 295 2025 34,581 973 2026 34,474 754 2027 33,968 593 2028 27,985 264 2029 21,242 61 Thereafter 61,821 — Total minimum lease payments 223,204 2,940 Less: amounts representing interest or imputed interest (67,850) (411) Present value of lease liabilities $ 155,354 $ 2,529 Managed Services Financing For details on Managed Services Financing refer to Part I, Item 7, Section Purchase and Financing Options, sub-section Managed Services Financing and Part II, Item 8, Note 8 — Leases in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. We recognized $2.3 million and $9.4 million of product revenue, and $2.2 million and $4.5 million of installation revenue from successful sale-and-leaseback transactions for the three and nine months ended September 30, 2024, respectively. The recognized operating lease expense from successful sale-and-leaseback transactions for the three and nine months ended September 30, 2024, was $3.2 million and $9.5 million, respectively. We recognized $15.8 million of product revenue and $4.8 million of installation revenue from successful sale-and-leaseback transactions for the nine months ended September 30, 2023. There were no new successful sale-and-leaseback transactions during the three months ended September 30, 2023. The recognized operating lease expense from successful sale-and-leaseback transactions for the three and nine months ended September 30, 2023, was $2.6 million and $7.0 million, respectively. Operating lease right-of-use assets from successful sale-and-leaseback transactions as of September 30, 2024, and December 31, 2023, was $49.1 million and $47.6 million, respectively. Operating lease liability from successful sale-and-leaseback transactions as of September 30, 2024, and December 31, 2023, was $52.2 million and $50.1 million, including long-term operating lease liability of $44.2 million and $43.7 million, respectively. Financing obligations from successful sale-and-leaseback transactions as of September 30, 2024, and December 31, 2023, was $11.5 million and $10.9 million, including long-term financing obligations of $9.4 million and $9.3 million, respectively. At September 30, 2024, future lease payments under the Managed Services Agreements financing obligations were as follows (in thousands): Financing Obligations Remainder of 2024 $ 10,527 2025 42,541 2026 38,277 2027 22,376 2028 12,474 Thereafter 26,965 Total minimum lease payments 153,160 Less: imputed interest (76,889) Present value of net minimum lease payments 76,271 Less: current financing obligations (20,920) Long-term financing obligations $ 55,351 The total financing obligations, as reflected in our condensed consolidated balance sheets, were $411.5 million and $444.8 million as of September 30, 2024, and December 31, 2023, respectively. We expect the difference between these obligations and the principal obligations in the table above to be offset against the carrying value of the related Energy Servers at the end of the lease and the remainder recognized as either a gain or loss at that point. For the three and nine months ended September 30, 2024, we recognized a $5.0 million gain on failed sale-and-leaseback transactions in other income (expense), net on our condensed consolidated statements of operations. There were no such transactions during the three and nine months ended September 30, 2023.
Leases	Leases Facilities, Energy Servers, and Vehicles For the three and nine months ended September 30, 2024, rent expense for all occupied facilities was $5.6 million and $16.8 million, respectively. For the three and nine months ended September 30, 2023, rent expense for all occupied facilities was $5.7 million and $17.0 million, respectively. Operating and financing lease right-of-use assets and lease liabilities as of September 30, 2024, and December 31, 2023, were as follows (in thousands): September 30, December 31, 2024 2023 Operating Leases: Operating lease right-of-use assets, net 1, 2 $ 133,143 $ 139,732 Current operating lease liabilities (20,195) (20,245) Non-current operating lease liabilities (135,159) (141,939) Total operating lease liabilities $ (155,354) $ (162,184) Finance Leases: Finance lease right-of-use assets, net 2, 3, 4 $ 2,334 $ 2,708 Current finance lease liabilities 5 (826) (1,072) Non-current finance lease liabilities 6 (1,703) (1,837) Total finance lease liabilities $ (2,529) $ (2,909) Total lease liabilities $ (157,883) $ (165,093) 1 These assets primarily include leases for facilities, Energy Servers, and vehicles. 2 Net of accumulated amortization. 3 These assets primarily include leases for vehicles. 4 Included in property, plant and equipment, net in the condensed consolidated balance sheets. 5 Included in accrued expenses and other current liabilities in the condensed consolidated balance sheets. 6 Included in other long-term liabilities in the condensed consolidated balance sheets. The components of our lease costs for the three and nine months ended September 30, 2024, and 2023, were as follows (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Operating lease costs $ 9,048 $ 8,408 $ 26,990 $ 24,373 Financing lease costs: Amortization of right-of-use assets 120 294 611 689 Interest on lease liabilities 61 72 190 203 Total financing lease costs 181 366 801 892 Short-term lease costs 36 384 68 1,561 Total lease costs $ 9,265 $ 9,158 $ 27,859 $ 26,826 Weighted average remaining lease terms and discount rates for our leases as of September 30, 2024, and December 31, 2023, were as follows: September 30, December 31, 2024 2023 Weighted average remaining lease term: Operating leases 6.9 years 7.4 years Finance leases 3.3 years 3.2 years Weighted average discount rate: Operating leases 10.5 % 10.6 % Finance leases 9.6 % 9.5 % Future lease payments under lease agreements as of September 30, 2024, were as follows (in thousands): Operating Leases Finance Leases Remainder of 2024 $ 9,133 $ 295 2025 34,581 973 2026 34,474 754 2027 33,968 593 2028 27,985 264 2029 21,242 61 Thereafter 61,821 — Total minimum lease payments 223,204 2,940 Less: amounts representing interest or imputed interest (67,850) (411) Present value of lease liabilities $ 155,354 $ 2,529 Managed Services Financing For details on Managed Services Financing refer to Part I, Item 7, Section Purchase and Financing Options, sub-section Managed Services Financing and Part II, Item 8, Note 8 — Leases in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. We recognized $2.3 million and $9.4 million of product revenue, and $2.2 million and $4.5 million of installation revenue from successful sale-and-leaseback transactions for the three and nine months ended September 30, 2024, respectively. The recognized operating lease expense from successful sale-and-leaseback transactions for the three and nine months ended September 30, 2024, was $3.2 million and $9.5 million, respectively. We recognized $15.8 million of product revenue and $4.8 million of installation revenue from successful sale-and-leaseback transactions for the nine months ended September 30, 2023. There were no new successful sale-and-leaseback transactions during the three months ended September 30, 2023. The recognized operating lease expense from successful sale-and-leaseback transactions for the three and nine months ended September 30, 2023, was $2.6 million and $7.0 million, respectively. Operating lease right-of-use assets from successful sale-and-leaseback transactions as of September 30, 2024, and December 31, 2023, was $49.1 million and $47.6 million, respectively. Operating lease liability from successful sale-and-leaseback transactions as of September 30, 2024, and December 31, 2023, was $52.2 million and $50.1 million, including long-term operating lease liability of $44.2 million and $43.7 million, respectively. Financing obligations from successful sale-and-leaseback transactions as of September 30, 2024, and December 31, 2023, was $11.5 million and $10.9 million, including long-term financing obligations of $9.4 million and $9.3 million, respectively. At September 30, 2024, future lease payments under the Managed Services Agreements financing obligations were as follows (in thousands): Financing Obligations Remainder of 2024 $ 10,527 2025 42,541 2026 38,277 2027 22,376 2028 12,474 Thereafter 26,965 Total minimum lease payments 153,160 Less: imputed interest (76,889) Present value of net minimum lease payments 76,271 Less: current financing obligations (20,920) Long-term financing obligations $ 55,351 The total financing obligations, as reflected in our condensed consolidated balance sheets, were $411.5 million and $444.8 million as of September 30, 2024, and December 31, 2023, respectively. We expect the difference between these obligations and the principal obligations in the table above to be offset against the carrying value of the related Energy Servers at the end of the lease and the remainder recognized as either a gain or loss at that point. For the three and nine months ended September 30, 2024, we recognized a $5.0 million gain on failed sale-and-leaseback transactions in other income (expense), net on our condensed consolidated statements of operations. There were no such transactions during the three and nine months ended September 30, 2023.

Stock-Based Compensation and Em

Stock-Based Compensation and Employee Benefit Plans	9 Months Ended
	Sep. 30, 2024
Compensation Related Costs [Abstract]
Stock-Based Compensation and Employee Benefit Plans	Stock-Based Compensation and Employee Benefit Plans Stock-Based Compensation Expense The following table summarizes the components of stock-based compensation expense in the condensed consolidated statements of operations (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Cost of revenue $ 3,778 $ 5,581 $ 11,702 $ 14,809 Research and development 5,313 5,585 16,405 21,673 Sales and marketing 2,684 3,015 8,044 15,089 General and administrative 5,282 7,383 19,189 28,025 $ 17,057 $ 21,564 $ 55,340 $ 79,596 As of September 30, 2024, and December 31, 2023, we capitalized $10.2 million and $8.9 million of stock-based compensation cost, respectively, into inventory and deferred cost of goods sold. Stock Option and Stock Award Activity Stock Options The following table summarizes the stock option activity under our stock plans during the reporting period: Outstanding Options Number of Weighted Remaining Aggregate (in thousands) Balances at December 31, 2023 7,247,624 $ 20.93 3.8 $ 19,446 Granted 1,355,348 9.96 Exercised (149,744) 5.29 Expired (764,033) 27.00 Balances at September 30, 2024 7,689,195 18.68 4.3 11,206 Vested and expected to vest at September 30, 2024 7,357,371 19.10 4.1 10,781 Exercisable at September 30, 2024 6,353,847 $ 20.52 3.2 $ 9,726 During the three and nine months ended September 30, 2024, we recognized $0.9 million and $2.1 million of stock-based compensation costs for stock options, respectively. During the three and nine months ended September 30, 2023, we recognized $0.1 million and $0.3 million of stock-based compensation costs for stock options, respectively. During the three and nine months ended September 30, 2024, we granted 180,000 and 1,355,348 stock options, respectively, including 180,000 and 955,000 stock options granted in the third and the first quarter of fiscal year 2024, respectively, to certain executives to purchase shares of common stock that contain certain performance-based vesting criteria related to corporate milestones (the “performance-based stock options”). The performance-based stock options were granted “at-the-money” and have a term of 10 years. The performance-based stock options vest based over a four-year or a three-year requisite service period. We did not grant stock options in the three and nine months ended September 30, 2023. The fair value of each performance-based stock option is estimated on the date of grant using the Black-Scholes valuation model. Recognition of stock-based compensation expense associated with these performance-based stock options commences when the performance condition is considered probable of achievement, using management’s best estimates, which consider the inherent risk and uncertainty regarding the future outcomes of the milestones. Forfeitures of the performance-based stock options are recognized as they occur. We used the following weighted-average assumptions in applying the Black-Scholes valuation model for determination of the stock options valuation: Risk-free interest rate 3.7% - 4.4% Expected term (years) 6 Expected dividend yield — Expected volatility 95.3% - 97.1% During the three and nine months ended September 30, 2024, the intrinsic value of stock options exercised was $0.1 million and $0.8 million, respectively. During the three and nine months ended September 30, 2023, the intrinsic value of stock options exercised was $1.1 million and $2.6 million, respectively. As of September 30, 2024, and December 31, 2023, we had unrecognized compensation costs related to unvested stock options of $8.1 million and $0.1 million, respectively. This cost is expected to be recognized over the remaining weighted-average period of 2.4 years and 0.3 years, respectively. Cash received from stock options exercised totaled $0.1 million and $0.8 million for the three and nine months ended September 30, 2024, respectively. Cash received from stock options exercised totaled $1.1 million and $2.6 million for the three and nine months ended September 30, 2023, respectively. Stock Awards A summary of our stock awards activity and related information is as follows: Number of Weighted Unvested Balance at December 31, 2023 9,889,341 $ 18.25 Granted 4,952,586 10.05 Vested (2,592,393) 19.71 Forfeited (1,418,278) 19.12 Unvested Balance at September 30, 2024 10,831,256 $ 14.04 Stock Awards — The estimated fair value of restricted stock units (“RSUs”) and performance stock units (“PSUs”) is based on the fair value of our Class A common stock on the date of grant. For the three and nine months ended September 30, 2024, we recognized $13.4 million and $46.8 million of stock-based compensation costs for stock awards, respectively. For the three and nine months ended September 30, 2023, we recognized $19.3 million and $65.0 million of stock-based compensation costs for stock awards, respectively. As of September 30, 2024, and December 31, 2023, we had $99.1 million and $113.5 million of unrecognized stock-based compensation expense related to unvested stock awards, expected to be recognized over a weighted average period of 2.1 years and 2.0 years, respectively. Executive Awards On March 1, 2024, the Company granted RSUs, PSUs, time-based and performance-based stock option awards to certain executive staff; on May 6, 2024, the Company granted RSUs and PSUs to new executive hires, including our new Chief Financial Officer; and on August 29, 2024, the Company granted additional performance-based stock option awards to our Chief Commercial Officer (collectively, the “2024 Executive Awards”), pursuant to the 2018 Equity Incentive Plan. The RSUs have time-based vesting schedules that range from two The time-based stock options started vesting on February 15, 2024, and shall vest over three years. The PSUs have vesting schedules that range from one three The PSUs and performance-based stock options will vest based on a combination of time and achievement against performance metrics targets assuming continued employment and service through each vesting date. Stock-based compensation costs associated with the 2024 Executive Awards are recognized over the service period as we evaluate the probability of the achievement of the performance conditions. As of September 30, 2024, the unamortized compensation expense for the RSUs, the PSUs, the time-based and the performance-based stock options per the 2024 Executive Awards was $14.7 million. For details on the 2023, 2022, and 2021 Executive Awards refer to Part II, Item 8, Note 9 — Stock-Based Compensation and Employee Benefit Plans in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. As of September 30, 2024, and December 31, 2023, the unamortized compensation expense for the RSUs and PSUs per the 2023 Executive Awards was $2.1 million and $7.0 million, respectively. As of September 30, 2024, and December 31, 2023, the unamortized compensation expense for the RSUs and PSUs per the 2022 Executive Awards was $1.4 million and $6.2 million, respectively. As of September 30, 2024, and December 31, 2023, the unamortized compensation expense for the RSUs and PSUs per the 2021 Executive Awards was $4.7 million and $8.2 million. The following table presents the stock activity and the total number of shares available for grant under our stock plans: Plan Shares Available for Grant Balances at December 31, 2023 32,877,906 Added to plan 9,674,114 Granted (6,018,048) Cancelled/Forfeited 1,892,425 Expired (624,136) Balances at September 30, 2024 37,802,261 2018 Employee Stock Purchase Plan For details on the 2018 Employee Stock Purchase Plan (the “2018 ESPP”), refer to Part II, Item 8, Note 9 — Stock-Based Compensation and Employee Benefit Plans in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. During the three and nine months ended September 30, 2024, we recognized $2.7 million and $4.0 million of stock-based compensation costs for the 2018 ESPP, respectively. During the three and nine months ended September 30, 2023, we recognized $0.1 million and $12.5 million of stock-based compensation costs for the 2018 ESPP, respectively. During the three and nine months ended September 30, 2024, we issued 417,467 and 1,049,955 shares, respectively. During the three and nine months ended September 30, 2023, we issued 426,170 and 875,695 shares, respectively. We added 2,418,528 and 2,239,563 shares to the 2018 ESPP for the nine months ended September 30, 2024, and 2023, respectively. We did not add any shares to the 2018 ESPP for the three months ended September 30, 2024, and 2023. There were 16,573,157 and 15,204,584 shares available for issuance as of September 30, 2024, and December 31, 2023, respectively. As of September 30, 2024, and December 31, 2023, we had $7.9 million and $8.8 million of unrecognized stock-based compensation costs, expected to be recognized over a weighted average period of 1.1 years and 0.8 years, respectively.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions There have been no changes in related party relationships during the nine months ended September 30, 2024. For information on our related party transactions, see Part II, Item 8, Note 12 — Related Party Transactions in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Our operations include the following related party transactions (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Total revenue from related parties 1 $ 126,627 $ 125,676 $ 335,641 $ 360,981 Cost of product revenue 2 48 — 122 — General and administrative expenses 3 164 — 525 — Interest expense 4 51 — 153 — 1 Includes revenue from (a) Korean JV and (b) SK ecoplant, which became a related party on September 23, 2023; however we had transactions with SK ecoplant in prior periods. 2 Includes expenses billed by SK ecoplant to Korean JV for headcount support services. 3 Includes rent expenses per operating lease agreements entered between Korean JV and SK ecoplant and miscellaneous expenses billed by SK ecoplant to Korean JV. 4 Interest expense per two term loans entered between Korean JV and SK ecoplant in fiscal year 2023. Below is the summary of outstanding related party balances as of September 30, 2024, and December 31, 2023 (in thousands): September 30, December 31, 2024 2023 Accounts receivable $ 349,502 $ 262,031 Contract assets 796 6,872 Deferred cost of revenue, current — 875 Prepaid expenses and other current assets 1,101 2,257 Operating lease right-of-use assets 1 1,674 2,031 Other long-term assets 9,064 9,069 Accounts payable — 77 Accrued warranty 2,779 1,260 Accrued expenses and other current liabilities 7,624 3,427 Deferred revenue and customer deposits, current 7,064 1,707 Operating lease liabilities, current 1 480 440 Deferred revenue and customer deposits, non-current 6,290 6,709 Operating lease liabilities, non-current 1 1,228 1,617 Non-recourse debt 2 4,563 4,627 1 Balances r elate to operating leases entered between Korean JV and SK ecoplant. 2 Represents the total balance of two term loans entered between Korean JV and SK ecoplant in fiscal year 2023.

Restructuring

Restructuring	9 Months Ended
	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring In September 2023, as a result of a review of current strategic priorities and resource allocation, we approved the restructuring plan intended to realign our operational focus to support our multi-year growth, scale the business, and improve our cost structure and operating margins. Please refer to Part II, Item 8, Note 12 — Restructuring in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, for details. For the nine months ended September 30, 2024, the impact from the restructuring on our condensed consolidated statements of operations was not material. We expect to incur $4.0 million in restructuring costs in subsequent quarters, out of which we expect $3.5 million will relate to relocation costs and $0.5 million will relate to other restructuring costs. However, the actual timing and amount of costs associated with these restructuring actions may differ from our current expectations and estimates and such differences may be material. The following table presents our current liability as accrued for restructuring charges on our condensed consolidated balance sheets. The table sets forth an analysis of the components of the restructuring charges and payments made against the accrual for the nine months ended September 30, 2024 (in thousands): Nine Months Ended September 30, 2024 Facility Closure Severance Other Total Balance at December 31, 2023 $ 2,577 $ 464 $ 752 $ 3,793 Restructuring accrual (release) (35) (385) 293 (127) Payments (2,529) (79) (577) (3,185) Balance at September 30, 2024 $ 13 $ — $ 468 $ 481 At September 30, 2024, and December 31, 2023, facility closure costs, severance, and other restructuring costs were included in accrued expenses and other current liabilities in our condensed consolidated balance sheets.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments Purchase Commitments with Suppliers and Contract Manufacturers — In order to reduce manufacturing lead-times for an adequate supply of inventories, we have agreements with our component suppliers and contract manufacturers to allow long lead-time component inventory procurement based on a rolling production forecast. We are contractually obligated to purchase long lead-time component inventory procured by certain manufacturers in accordance with our forecasts. We can generally give notice of order cancellation at least 90 days prior to the delivery date. However, we occasionally issue purchase orders to our component suppliers and third-party manufacturers that are not cancellable. As of September 30, 2024, and December 31, 2023, we had no material open purchase orders with our component suppliers and third-party manufacturers that are expected to be realized within more than a 12-month period and are not cancellable. Performance Guarantees — We guarantee the performance of the Energy Servers at certain levels of output and efficiency to our customers over the contractual term. We monitor the need for any accruals arising from such guaranties, which are calculated as the difference between committed and actual power output or between natural gas consumption at warranted efficiency levels and actual consumption, multiplied by the contractual rates with the customer. Amounts payable under these guaranties are accrued in periods when the guaranties are not met and are recorded as service revenue in the condensed consolidated statements of operations. We paid $1.9 million and $18.8 million for the three and nine months ended September 30, 2024, respectively, for such performance guarantees. For the three and nine months ended September 30, 2023, we paid $4.5 million and $24.4 million, respectively, for such performance guarantees. Letters of Credit — In 2019, pursuant to the PPA II upgrade of the Energy Servers, we agreed to indemnify our financing partner for losses that may be incurred in the event of certain regulatory, legal or legislative developments and established a cash-collateralized letter of credit facility for this purpose. As of September 30, 2024, and December 31, 2023, the balance of this cash-collateralized letter of credit was $20.5 million and $40.4 million, respectively. In addition, we have other outstanding letters of credit issued to our customers and other counterparties in the U.S. and international locations under different performance and financial obligations. These letters of credit are collateralized through cash deposited in the controlled bank accounts with the issuing banks and are classified as restricted cash in our condensed consolidated balance sheets. As of September 30, 2024, and December 31, 2023, the balances of the cash-collateralized letters of credit issued to our customers and other counterparties in the U.S. and international locations were $25.6 million and $32.6 million, respectively. Pledged Funds — In 2019, pursuant to the PPA IIIb upgrade of the Energy Servers, we established a restricted cash fund of $20.0 million, which had been pledged for a seven-year period to secure our operations and maintenance obligations with respect to the totality of our obligations to the financier. All or a portion of such funds would be released if we meet certain credit rating and/or market capitalization milestones prior to the end of the pledge period. If we do not meet the required criteria within the first five-year period, the funds would still be released to us over the following two years as long as the Energy Servers continue to perform in compliance with our warranty obligations. As of September 30, 2024, and December 31, 2023, the balance of the restricted cash fund was $7.4 million and $7.6 million, respectively. Contingencies Indemnification Agreements — We enter into standard indemnification agreements with our customers and certain other business partners in the ordinary course of business. Our exposure under these agreements is unknown because it involves future claims that may be made against us but have not yet been made. To date, we have not paid any claims or been required to defend any action related to our indemnification obligations. However, we may record charges in the future as a result of these indemnification obligations. Investment Tax Credits — Our Energy Servers are eligible for federal Investment Tax Credits (the “ITC”) that accrued to qualified property under Internal Revenue Code Section 48 when placed into service. However, the ITC program has operational criteria that extend for five years. If the energy property is disposed of or otherwise ceases to be qualified investment credit property before the close of the five-year recapture period is fulfilled, it could result in a partial reduction of the incentives. Legal Matters — We are involved in various legal proceedings that arise in the ordinary course of business. We review all legal matters at least quarterly and assess whether an accrual for loss contingencies needs to be recorded. We record an accrual for loss contingencies when management believes that it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Legal matters are subject to uncertainties and are inherently unpredictable, so the actual liability in any such matter may be materially different from our estimates. If an unfavorable resolution were to occur, there exists the possibility of a material adverse impact on our consolidated financial condition, results of operations or cash flows for the period in which the resolution occurs or in future periods. In June 2021, we filed a petition for writ of mandate and a complaint for declaratory and injunctive relief in the Santa Clara Superior Court against the City of Santa Clara for failure to issue building permits for two of our customer installations and asking the court to require the City of Santa Clara to process and issue the building permits. In October 2021, we filed an amended petition and complaint that asserts additional constitutional and tort claims based on the City’s failure to timely issue the Energy Server permits. On April 21, 2023, the parties executed a settlement agreement which allows our two pending customer installations to proceed under building permits and requires the City of Santa Clara to amend its zoning code so that future installations of Bloom Energy Servers in Santa Clara require only building permits. In February 2022, Plansee SE/Global Tungsten & Powders Corp. (“Plansee/GTP”), a former supplier, filed a request for expedited arbitration with the World Intellectual Property Organization Arbitration and Mediation Center in Geneva Switzerland (“WIPO”), for various claims allegedly in relation to an Intellectual Property and Confidential Disclosure Agreement between Plansee/GTP and Bloom Energy Corporation. Plansee/GTP’s statement of claims includes allegations of infringement of U.S. Patent Nos. 8,802,328, 8,753,785 and 9,434,003. On April 3, 2022, we filed a complaint against Plansee/GTP in the Eastern District of Texas to address the dispute between Plansee/GTP and Bloom Energy Corporation in a proper forum before a U.S. Federal District Court. Our complaint seeks the correction of inventorship of U.S. Patent Nos. 8,802,328, 8,753,785 and 9,434,003 (the “Patents-in-Suit”); declaratory judgment of invalidity, unenforceability, and non-infringement of the Patents-in-Suit; and declaratory judgment of no misappropriation. Further, our complaint seeks to recover damages we have suffered in relation to Plansee/GTP’s business dealings that, as alleged, constitute acts of unfair competition, tortious interference contract, breach of contract, violations of the Racketeer Influenced and Corrupt Organizations (RICO) Act and violations of the Clayton Antitrust Act. On June 9, 2022, Plansee/GTP filed a motion to dismiss the complaint filed in the Eastern District of Texas and compel arbitration (or alternatively to stay). We filed our opposition on June 30, 2022, Plansee/GTP filed its reply on July 14, 2022, and we filed our sur-reply on July 22, 2022. On February 9, 2023, Magistrate Judge Payne issued a report and recommendation to stay the district court action pending an arbitrability determination by the arbitrator for each claim. On February 23, 2023, we filed an amended complaint adding additional causes of action and filed objections to the Magistrate’s report and recommendation. On April 26, 2023, Judge Gilstrap overruled our objections to the Magistrate’s report and recommendation and stayed the district court action pending arbitrability determinations by the arbitrator in the WIPO proceeding. The arbitration had been held in abeyance awaiting the decision of the Eastern District of Texas. A hearing by the arbitrator in WIPO on arbitrability took place on June 27, 2023. On October 2, 2023, the arbitrator in the WIPO proceeding issued a ruling concluding that all the parties’ claims were arbitrable. On November 18, 2023, the arbitrator bifurcated the arbitration into a first phase that will focus on Bloom’s claims directed to improper inventorship of the Patents-in-Suit and Bloom’s defective product claims. Briefing on the first phase will take place throughout 2024 with a potential evidentiary hearing to be scheduled in 2025. We are unable to predict the ultimate outcome of the arbitration at this time.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three and nine months ended September 30, 2024, we recorded an income tax provisions of $0.1 million and $0.5 million on pre-tax losses of $14.5 million and $131.9 million for effective tax rates of (0.8)% and (0.4)%, respectively. For the three and nine months ended September 30, 2023, we recorded an income tax provisions of $0.6 million and $1.1 million, respectively, on pre-tax losses of $167.4 million and $311.0 million for effective tax rates of (0.4)% and (0.3)%, respectively. The effective tax rate for the three and nine months ended September 30, 2024, and 2023, is lower than the statutory federal tax rate primarily due to a full valuation allowance against U.S. deferred tax assets.

Net Loss per Share Available to

Net Loss per Share Available to Common Stockholders	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Net Loss per Share Available to Common Stockholders	Net Loss per Share Available to Common Stockholders Please refer to the condensed consolidated statements of operations for computation of our net loss per share available to common stockholders, basic and diluted. The following common stock equivalents (in thousands) were excluded from the computation of our net loss per share available to common stockholders, diluted, for the three and nine months presented as their inclusion would have been antidilutive (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Convertible notes 59,955 47,736 53,357 31,146 Redeemable convertible preferred stock — 12,319 — 13,096 Stock options and awards 2,764 3,352 3,084 4,880 62,719 63,407 56,441 49,122

SK ecoplant Strategic Investmen

SK ecoplant Strategic Investment	9 Months Ended
	Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
SK ecoplant Strategic Investment	SK ecoplant Strategic Investment In September 2023, we entered into the Amended and Restated Joint Venture Agreement (the “JVA”) and the Share Purchase Agreement (together, the “Amended JV Agreements”) with SK ecoplant which allowed SK ecoplant to increase its share of the voting rights in the Korean JV to 60% and increased the scope of assembly done by the joint venture facility in the Republic of Korea to full assembly. In January 2024, SK ecoplant increased its capital contribution to Korean JV by $3.9 million, which increased its voting rights in the Korean JV to 60%. However, as of September 30, 2024, we continue to consolidate the Korean JV in our financial statements as we remain a primary beneficiary of this joint venture. The following are the aggregate carrying values of the Korean JV’s assets and liabilities in our condensed consolidated balance sheets, after eliminations of intercompany transactions and balances, as of September 30, 2024, and December 31, 2023 (in thousands): September 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 8,981 $ 3,003 Accounts receivable 19,100 19,567 Inventories 8,364 8,156 Prepaid expenses and other current assets 2,433 644 Total current assets 38,878 31,370 Property and equipment, net 1,969 2,519 Operating lease right-of-use assets 1,786 2,138 Other long-term assets 45 46 Total assets $ 42,678 $ 36,073 Liabilities Current liabilities: Accounts payable $ 3,861 $ 3,480 Accrued expenses and other current liabilities 2,856 2,347 Operating lease liabilities 480 440 Total current liabilities 7,197 6,267 Operating lease liabilities 1,228 1,617 Non-recourse debt 4,563 4,627 Total liabilities $ 12,988 $ 12,511 For a description of the strategic investment with SK ecoplant Co., Ltd. (“SK ecoplant”, formerly known as SK Engineering & Construction Co., Ltd.), a subsidiary of the SK Group, please refer to Part II, Item 8, Note 17 — SK ecoplant Strategic Investment in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events There have been no subsequent events that occurred during the period subsequent to the date of these unaudited condensed consolidated financial statements that would require adjustment to our disclosure in the unaudited condensed consolidated financial statements as presented.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation We have prepared the unaudited condensed consolidated financial statements included herein pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”), and as permitted by those rules, including all disclosures required by generally accepted accounting principles as applied in the United States (“U.S. GAAP”). Certain prior period amounts have been reclassified to conform to the current period presentation.
Principles of Consolidation	Principles of Consolidation For information on the principles of consolidation, see Part II, Item 8, Note 1 — Nature of Business, Liquidity and Basis of Presentation, Principles of Consolidation section in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023.
Use of Estimates	Use of Estimates For information on the use of accounting estimates, see Part II, Item 8, Note 1 — Nature of Business, Liquidity and Basis of Presentation, Use of Estimates section in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023.
Accounting Guidance Not Yet Adopted & Recent Accounting Pronouncements	Accounting Guidance Not Yet Adopted Refer to the accounting guidance not yet adopted described in Part II, Item 8, Note 2 — Summary of Significant Accounting Policies — Accounting Guidance Not Yet Adopted section in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Based on the Company’s continued evaluation, we do not expect a material impact from new accounting guidance not yet adopted to our unaudited condensed consolidated financial statements. Recent Accounting Pronouncements There have been no significant changes in our reported financial position or results of operations and cash flows resulting from the adoption of new accounting pronouncements.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Contract with Customer, Asset and Liability	The following table provides information about accounts receivables, contract assets, customer deposits and deferred revenue from contracts with customers (in thousands): September 30, December 31, 2024 2023 Accounts receivable $ 590,794 $ 340,740 Contract assets 121,074 41,366 Customer deposits 121,507 75,734 Deferred revenue 55,345 72,328 Three Months Ended Nine Months Ended 2024 2023 2024 2023 Beginning balance $ 90,388 $ 35,182 $ 41,366 $ 46,727 Transferred to accounts receivable from contract assets recognized at the beginning of the period (17,193) (8,284) (28,926) (31,968) Revenue recognized and not billed as of the end of the period 47,879 116,977 108,634 129,116 Ending balance $ 121,074 $ 143,875 $ 121,074 $ 143,875 Deferred revenue activity during the three and nine months ended September 30, 2024, and 2023, consisted of the following (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Beginning balance $ 55,965 $ 85,110 $ 72,328 $ 94,355 Additions 245,547 243,545 651,461 733,891 Revenue recognized (246,167) (261,042) (668,444) (760,633) Ending balance $ 55,345 $ 67,613 $ 55,345 $ 67,613
Schedule of Disaggregation of Revenue	We disaggregate revenue from contracts with customers into four revenue categories: product, installation, services and electricity (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Revenue from contracts with customers: Product revenue $ 233,770 $ 304,976 $ 613,442 $ 713,427 Installation revenue 32,052 21,916 86,229 66,762 Services revenue 50,761 47,535 159,752 130,496 Electricity revenue 5,213 9,012 15,012 16,816 Total revenue from contracts with customers 321,796 383,439 874,435 927,501 Revenue from contracts that contain leases: Electricity revenue 8,603 16,829 27,028 49,053 Total revenue $ 330,399 $ 400,268 $ 901,463 $ 976,554

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2024
Cash and Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents	The carrying values of cash, cash equivalents, and restricted cash approximate fair values and were as follows (in thousands): September 30, December 31, 2024 2023 As Held: Cash $ 82,492 $ 144,102 Money market funds 466,659 601,076 $ 549,151 $ 745,178 As Reported: Cash and cash equivalents $ 495,677 $ 664,593 Restricted cash 53,474 80,585 $ 549,151 $ 745,178
Schedule of Restrictions on Cash and Cash Equivalents	The carrying values of cash, cash equivalents, and restricted cash approximate fair values and were as follows (in thousands): September 30, December 31, 2024 2023 As Held: Cash $ 82,492 $ 144,102 Money market funds 466,659 601,076 $ 549,151 $ 745,178 As Reported: Cash and cash equivalents $ 495,677 $ 664,593 Restricted cash 53,474 80,585 $ 549,151 $ 745,178 Restricted cash consisted of the following (in thousands): September 30, December 31, 2024 2023 Restricted cash, current $ 22,548 $ 46,821 Restricted cash, non-current 30,926 33,764 $ 53,474 $ 80,585

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The tables below set forth, by level, our financial assets and liabilities that are accounted for at fair value for the respective periods. The table does not include assets and liabilities that are measured at historical cost or any basis other than fair value (in thousands): Fair Value Measured at Reporting Date Using September 30, 2024 Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 466,659 $ — $ — $ 466,659 $ 466,659 $ — $ — $ 466,659 Liabilities Derivatives: Embedded EPP derivatives $ — $ — $ 4,692 $ 4,692 $ — $ — $ 4,692 $ 4,692 Fair Value Measured at Reporting Date Using December 31, 2023 Level 1 Level 2 Level 3 Total Assets Cash equivalents: Money market funds $ 601,076 $ — $ — $ 601,076 $ 601,076 $ — $ — $ 601,076 Liabilities Derivatives: Embedded EPP derivatives $ — $ — $ 4,376 $ 4,376 $ — $ — $ 4,376 $ 4,376
Schedule of Change in Level 3 Financial Liabilities	The changes in the Level 3 financial liabilities during the nine months ended September 30, 2024, were as follows (in thousands): Embedded EPP Derivative Liability Liabilities at December 31, 2023 $ 4,376 Changes in fair value 316 Liabilities at September 30, 2024 $ 4,692
Schedule of Fair Values and Carrying Values of Customer Receivables and Debt Instruments	The following table presents the estimated fair values and carrying values of debt instruments (in thousands): September 30, 2024 December 31, 2023 Net Carrying Fair Value Net Carrying Fair Value Debt instruments Recourse: 3% Green Convertible Senior Notes due June 2029 $ 390,602 $ 337,215 $ — $ — 3% Green Convertible Senior Notes due June 2028 618,132 574,690 615,205 673,613 2.5% Green Convertible Senior Notes due August 2025 114,139 118,013 226,801 260,820 Non-recourse: 4.6% Term Loan due October 2026 $ 3,042 $ 3,028 $ 3,085 $ 2,866 4.6% Term Loan due April 2026 1,521 1,563 1,542 1,479

Balance Sheet Components (Table

Balance Sheet Components (Tables)	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Inventory	The components of inventory consisted of the following (in thousands): September 30, December 31, 2024 2023 Raw materials $ 339,023 $ 270,414 Work-in-progress 105,207 50,632 Finished goods 140,254 181,469 $ 584,484 $ 502,515
Schedule of Prepaid Expense and Other Current Assets	Prepaid expenses and other current assets consisted of the following (in thousands): September 30, December 31, 2024 2023 Prepaid managed services $ 5,682 $ 5,636 Tax receivables 5,413 3,231 Prepaid hardware and software maintenance 4,123 5,202 Receivables from employees 4,028 6,538 Prepaid workers compensation 3,515 6,851 Advance income tax provision 2,819 2,557 Prepaid rent 1,815 1,232 Interest receivable 1,719 1,697 Prepaid deferred commissions 1,123 1,178 Deferred expenses 1,101 2,257 Deposits made 972 1,702 Other prepaid expenses and other current assets 15,353 13,067 $ 47,663 $ 51,148
Schedule of Property, Plant and Equipment	Property, plant and equipment, net consisted of the following (in thousands): September 30, December 31, 2024 2023 Energy Servers $ 290,277 $ 309,770 Vehicles, machinery and equipment 199,541 174,549 Leasehold improvements 122,078 94,646 Construction-in-progress 84,170 104,650 Buildings 53,163 49,477 Computers, software and hardware 34,022 28,901 Furniture and fixtures 10,949 12,541 794,200 774,534 Less: accumulated depreciation (309,695) (281,182) $ 484,505 $ 493,352
Schedule of Other Long-Term Assets	Other long-term assets consisted of the following (in thousands): September 30, December 31, 2024 2023 Deferred commissions $ 12,500 $ 9,373 Deferred expenses 9,064 9,069 Long-term lease receivable 6,241 7,335 Deposits made 3,157 3,157 Prepaid managed services 1,847 1,646 Deferred tax asset 1,377 1,385 Prepaid and other long-term assets 15,330 18,243 $ 49,516 $ 50,208
Schedule of Product Warranty Liability And Product Performance Liabilities	Accrued warranty and product performance liabilities consisted of the following (in thousands): September 30, December 31, 2024 2023 Product performance $ 12,201 $ 18,066 Product warranty 2,808 1,260 $ 15,009 $ 19,326 Changes in the product warranty and product performance liabilities were as follows (in thousands): Balances at December 31, 2023 $ 19,326 Accrued warranty, net and product performance liabilities 14,466 Product performance expenditures during the period (18,783) Balances at September 30, 2024 $ 15,009
Schedule of Accrued Other Current Liabilities	Accrued expenses and other current liabilities consisted of the following (in thousands): September 30, December 31, 2024 2023 Compensation and benefits $ 45,242 $ 47,901 General invoice and purchase order accruals 41,324 36,266 Interest payable 11,018 3,823 Sales tax liabilities 9,357 17,412 Sales-related liabilities 8,862 5,121 Accrued installation 3,471 4,939 Provision for income tax 2,754 3,374 Accrued legal expenses 2,306 1,359 Accrued consulting expenses 1,823 3,244 Finance lease liability 826 1,072 Accrued restructuring costs (Note 11) 481 3,793 Other 2,867 2,575 $ 130,331 $ 130,879

Outstanding Loans and Securit_2

Outstanding Loans and Security Agreements (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	The following is a summary of our debt as of September 30, 2024 (in thousands, except percentage data): Unpaid Net Carrying Value Interest Maturity Dates Entity Current Long- Total 3% Green Convertible Senior Notes due June 2029 $ 402,500 $ — $ 390,602 $ 390,602 3.0% June 2029 Company 3% Green Convertible Senior Notes due June 2028 632,500 — 618,132 618,132 3.0% June 2028 Company 2.5% Green Convertible Senior Notes due August 2025 115,000 114,139 — 114,139 2.5% August 2025 Company Total recourse debt 1,150,000 114,139 1,008,734 1,122,873 4.6% Term Loan due October 2026 3,042 — 3,042 3,042 4.6% October 2026 Korean JV 4.6% Term Loan due April 2026 1,521 — 1,521 1,521 4.6% April 2026 Korean JV Total non-recourse debt 4,563 — 4,563 4,563 Total debt $ 1,154,563 $ 114,139 $ 1,013,297 $ 1,127,436 The following is a summary of our debt as of December 31, 2023 (in thousands, except percentage data): Unpaid Net Carrying Value Interest Maturity Dates Entity Current Long- Total 3% Green Convertible Senior Notes due June 2028 $ 632,500 $ — $ 615,205 $ 615,205 3.0% June 2028 Company 2.5% Green Convertible Senior Notes due August 2025 230,000 — 226,801 226,801 2.5% August 2025 Company Total recourse debt 862,500 — 842,006 842,006 4.6% Term Loan due October 2026 3,085 — 3,085 3,085 4.6% October 2026 Korean JV 4.6% Term Loan due April 2026 1,542 — 1,542 1,542 4.6% April 2026 Korean JV Total non-recourse debt 4,627 — 4,627 4,627 Total debt $ 867,127 $ — $ 846,633 $ 846,633
Schedule of Repayment and Interest Expense	The following table presents details of our outstanding loan principal repayment schedule as of September 30, 2024 (in thousands): Remainder of 2024 $ — 2025 115,000 2026 4,563 2027 — 2028 632,500 Thereafter 402,500 $ 1,154,563

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Schedule of Assets and Liabilities Leases	Operating and financing lease right-of-use assets and lease liabilities as of September 30, 2024, and December 31, 2023, were as follows (in thousands): September 30, December 31, 2024 2023 Operating Leases: Operating lease right-of-use assets, net 1, 2 $ 133,143 $ 139,732 Current operating lease liabilities (20,195) (20,245) Non-current operating lease liabilities (135,159) (141,939) Total operating lease liabilities $ (155,354) $ (162,184) Finance Leases: Finance lease right-of-use assets, net 2, 3, 4 $ 2,334 $ 2,708 Current finance lease liabilities 5 (826) (1,072) Non-current finance lease liabilities 6 (1,703) (1,837) Total finance lease liabilities $ (2,529) $ (2,909) Total lease liabilities $ (157,883) $ (165,093) 1 These assets primarily include leases for facilities, Energy Servers, and vehicles. 2 Net of accumulated amortization. 3 These assets primarily include leases for vehicles. 4 Included in property, plant and equipment, net in the condensed consolidated balance sheets. 5 Included in accrued expenses and other current liabilities in the condensed consolidated balance sheets. 6 Included in other long-term liabilities in the condensed consolidated balance sheets.
Schedule of Lease, Cost	The components of our lease costs for the three and nine months ended September 30, 2024, and 2023, were as follows (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Operating lease costs $ 9,048 $ 8,408 $ 26,990 $ 24,373 Financing lease costs: Amortization of right-of-use assets 120 294 611 689 Interest on lease liabilities 61 72 190 203 Total financing lease costs 181 366 801 892 Short-term lease costs 36 384 68 1,561 Total lease costs $ 9,265 $ 9,158 $ 27,859 $ 26,826 Weighted average remaining lease terms and discount rates for our leases as of September 30, 2024, and December 31, 2023, were as follows: September 30, December 31, 2024 2023 Weighted average remaining lease term: Operating leases 6.9 years 7.4 years Finance leases 3.3 years 3.2 years Weighted average discount rate: Operating leases 10.5 % 10.6 % Finance leases 9.6 % 9.5 %
Schedule of Finance Lease, Liability, Fiscal Year Maturity	Future lease payments under lease agreements as of September 30, 2024, were as follows (in thousands): Operating Leases Finance Leases Remainder of 2024 $ 9,133 $ 295 2025 34,581 973 2026 34,474 754 2027 33,968 593 2028 27,985 264 2029 21,242 61 Thereafter 61,821 — Total minimum lease payments 223,204 2,940 Less: amounts representing interest or imputed interest (67,850) (411) Present value of lease liabilities $ 155,354 $ 2,529 At September 30, 2024, future lease payments under the Managed Services Agreements financing obligations were as follows (in thousands): Financing Obligations Remainder of 2024 $ 10,527 2025 42,541 2026 38,277 2027 22,376 2028 12,474 Thereafter 26,965 Total minimum lease payments 153,160 Less: imputed interest (76,889) Present value of net minimum lease payments 76,271 Less: current financing obligations (20,920) Long-term financing obligations $ 55,351
Schedule of Lessee, Operating Lease, Liability, Maturity	Future lease payments under lease agreements as of September 30, 2024, were as follows (in thousands): Operating Leases Finance Leases Remainder of 2024 $ 9,133 $ 295 2025 34,581 973 2026 34,474 754 2027 33,968 593 2028 27,985 264 2029 21,242 61 Thereafter 61,821 — Total minimum lease payments 223,204 2,940 Less: amounts representing interest or imputed interest (67,850) (411) Present value of lease liabilities $ 155,354 $ 2,529 At September 30, 2024, future lease payments under the Managed Services Agreements financing obligations were as follows (in thousands): Financing Obligations Remainder of 2024 $ 10,527 2025 42,541 2026 38,277 2027 22,376 2028 12,474 Thereafter 26,965 Total minimum lease payments 153,160 Less: imputed interest (76,889) Present value of net minimum lease payments 76,271 Less: current financing obligations (20,920) Long-term financing obligations $ 55,351

Stock-Based Compensation and _2

Stock-Based Compensation and Employee Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2024
Compensation Related Costs [Abstract]
Schedule of Employee and Non-Employee Stock-Based Compensation Expense	The following table summarizes the components of stock-based compensation expense in the condensed consolidated statements of operations (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Cost of revenue $ 3,778 $ 5,581 $ 11,702 $ 14,809 Research and development 5,313 5,585 16,405 21,673 Sales and marketing 2,684 3,015 8,044 15,089 General and administrative 5,282 7,383 19,189 28,025 $ 17,057 $ 21,564 $ 55,340 $ 79,596
Schedule of Stock Option Activity	The following table summarizes the stock option activity under our stock plans during the reporting period: Outstanding Options Number of Weighted Remaining Aggregate (in thousands) Balances at December 31, 2023 7,247,624 $ 20.93 3.8 $ 19,446 Granted 1,355,348 9.96 Exercised (149,744) 5.29 Expired (764,033) 27.00 Balances at September 30, 2024 7,689,195 18.68 4.3 11,206 Vested and expected to vest at September 30, 2024 7,357,371 19.10 4.1 10,781 Exercisable at September 30, 2024 6,353,847 $ 20.52 3.2 $ 9,726 The following table presents the stock activity and the total number of shares available for grant under our stock plans: Plan Shares Available for Grant Balances at December 31, 2023 32,877,906 Added to plan 9,674,114 Granted (6,018,048) Cancelled/Forfeited 1,892,425 Expired (624,136) Balances at September 30, 2024 37,802,261
Schedule of Weighted-Average Valuation Assumptions	We used the following weighted-average assumptions in applying the Black-Scholes valuation model for determination of the stock options valuation: Risk-free interest rate 3.7% - 4.4% Expected term (years) 6 Expected dividend yield — Expected volatility 95.3% - 97.1%
Schedule of Stock Award Activity	A summary of our stock awards activity and related information is as follows: Number of Weighted Unvested Balance at December 31, 2023 9,889,341 $ 18.25 Granted 4,952,586 10.05 Vested (2,592,393) 19.71 Forfeited (1,418,278) 19.12 Unvested Balance at September 30, 2024 10,831,256 $ 14.04

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Our operations include the following related party transactions (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Total revenue from related parties 1 $ 126,627 $ 125,676 $ 335,641 $ 360,981 Cost of product revenue 2 48 — 122 — General and administrative expenses 3 164 — 525 — Interest expense 4 51 — 153 — 1 Includes revenue from (a) Korean JV and (b) SK ecoplant, which became a related party on September 23, 2023; however we had transactions with SK ecoplant in prior periods. 2 Includes expenses billed by SK ecoplant to Korean JV for headcount support services. 3 Includes rent expenses per operating lease agreements entered between Korean JV and SK ecoplant and miscellaneous expenses billed by SK ecoplant to Korean JV. 4 Interest expense per two term loans entered between Korean JV and SK ecoplant in fiscal year 2023. Below is the summary of outstanding related party balances as of September 30, 2024, and December 31, 2023 (in thousands): September 30, December 31, 2024 2023 Accounts receivable $ 349,502 $ 262,031 Contract assets 796 6,872 Deferred cost of revenue, current — 875 Prepaid expenses and other current assets 1,101 2,257 Operating lease right-of-use assets 1 1,674 2,031 Other long-term assets 9,064 9,069 Accounts payable — 77 Accrued warranty 2,779 1,260 Accrued expenses and other current liabilities 7,624 3,427 Deferred revenue and customer deposits, current 7,064 1,707 Operating lease liabilities, current 1 480 440 Deferred revenue and customer deposits, non-current 6,290 6,709 Operating lease liabilities, non-current 1 1,228 1,617 Non-recourse debt 2 4,563 4,627 1 Balances r elate to operating leases entered between Korean JV and SK ecoplant. 2 Represents the total balance of two term loans entered between Korean JV and SK ecoplant in fiscal year 2023.

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Sep. 30, 2024
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs	The following table presents our current liability as accrued for restructuring charges on our condensed consolidated balance sheets. The table sets forth an analysis of the components of the restructuring charges and payments made against the accrual for the nine months ended September 30, 2024 (in thousands): Nine Months Ended September 30, 2024 Facility Closure Severance Other Total Balance at December 31, 2023 $ 2,577 $ 464 $ 752 $ 3,793 Restructuring accrual (release) (35) (385) 293 (127) Payments (2,529) (79) (577) (3,185) Balance at September 30, 2024 $ 13 $ — $ 468 $ 481

Net Loss per Share Available _2

Net Loss per Share Available to Common Stockholders (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Diluted Net Loss Per Share	The following common stock equivalents (in thousands) were excluded from the computation of our net loss per share available to common stockholders, diluted, for the three and nine months presented as their inclusion would have been antidilutive (in thousands): Three Months Ended Nine Months Ended 2024 2023 2024 2023 Convertible notes 59,955 47,736 53,357 31,146 Redeemable convertible preferred stock — 12,319 — 13,096 Stock options and awards 2,764 3,352 3,084 4,880 62,719 63,407 56,441 49,122

SK ecoplant Strategic Investm_2

SK ecoplant Strategic Investment (Tables)	9 Months Ended
	Sep. 30, 2024
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Condensed Balance Sheet	The following are the aggregate carrying values of the Korean JV’s assets and liabilities in our condensed consolidated balance sheets, after eliminations of intercompany transactions and balances, as of September 30, 2024, and December 31, 2023 (in thousands): September 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 8,981 $ 3,003 Accounts receivable 19,100 19,567 Inventories 8,364 8,156 Prepaid expenses and other current assets 2,433 644 Total current assets 38,878 31,370 Property and equipment, net 1,969 2,519 Operating lease right-of-use assets 1,786 2,138 Other long-term assets 45 46 Total assets $ 42,678 $ 36,073 Liabilities Current liabilities: Accounts payable $ 3,861 $ 3,480 Accrued expenses and other current liabilities 2,856 2,347 Operating lease liabilities 480 440 Total current liabilities 7,197 6,267 Operating lease liabilities 1,228 1,617 Non-recourse debt 4,563 4,627 Total liabilities $ 12,988 $ 12,511

Nature of Business, Liquidity_2

Nature of Business, Liquidity and Basis of Presentation (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
	May 29, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Mar. 29, 2024	Aug. 31, 2020
Subsidiary, Sale of Stock [Line Items]
Long-term debt		$ 1,127,436		$ 1,127,436		$ 846,633
Short-term debt		114,100		114,100
Long- Term		1,013,297		1,013,297		846,633
Unpaid Principal Balance		$ 1,154,563		$ 1,154,563		$ 867,127
Government assistance, award amount							$ 75,300
Sales Revenue, Net | Customer Concentration Risk | Customer One
Subsidiary, Sale of Stock [Line Items]
Concentration risk, percentage		38%	40%	37%	36%
Sales Revenue, Net | Customer Concentration Risk | Customer Two
Subsidiary, Sale of Stock [Line Items]
Concentration risk, percentage		20%	31%	21%	24%
Sales Revenue, Net | Customer Concentration Risk | Customer Three
Subsidiary, Sale of Stock [Line Items]
Concentration risk, percentage		10%
Accounts Receivable | Customer Concentration Risk | Customer One
Subsidiary, Sale of Stock [Line Items]
Concentration risk, percentage				59%		74%
Accounts Receivable | Customer Concentration Risk | Customer Two
Subsidiary, Sale of Stock [Line Items]
Concentration risk, percentage				18%
Asia Pacific | Sales Revenue, Net | Geographic Concentration Risk
Subsidiary, Sale of Stock [Line Items]
Concentration risk, percentage		52%	65%	60%	76%
2.5% Green Convertible Senior Notes due August 2025
Subsidiary, Sale of Stock [Line Items]
Interest Rate		3.30%		3.30%
Total recourse debt
Subsidiary, Sale of Stock [Line Items]
Long-term debt		$ 1,122,873		$ 1,122,873		$ 842,006
Long- Term		1,008,734		1,008,734		842,006
Unpaid Principal Balance		1,150,000		1,150,000		862,500
Total non-recourse debt
Subsidiary, Sale of Stock [Line Items]
Long-term debt		4,563		4,563		4,627
Long- Term		4,563		4,563		4,627
Unpaid Principal Balance		4,563		4,563		4,627
Senior Secured Notes | 3% Green Convertible Senior Notes due June 2029
Subsidiary, Sale of Stock [Line Items]
Long- Term		$ 390,602		$ 390,602
Interest Rate	3%	3%		3%
Unpaid Principal Balance	$ 402,500	$ 402,500		$ 402,500
Debt instrument, unamortized discount	12,100
Debt other issuance costs, net	700
Proceeds from debt, net of issuance costs	389,700
Debt instrument, covenant, event of default, special interest received by noteholders, not To exceed		0.50%		0.50%
Senior Secured Notes | 2.5% Green Convertible Senior Notes due August 2025
Subsidiary, Sale of Stock [Line Items]
Long- Term		$ 0		$ 0		$ 226,801
Interest Rate		2.50%	2.50%	2.50%	2.50%	2.50%		2.50%
Unpaid Principal Balance		$ 115,000		$ 115,000		$ 230,000
Proceeds from debt, net of issuance costs	$ 141,800
Debt instrument, covenant, event of default, special interest received by noteholders, not To exceed	50%
Debt instrument, repurchased notes percentage	1.226
Notes | 2.5% Green Convertible Senior Notes due August 2025
Subsidiary, Sale of Stock [Line Items]
Secured long-term debt, noncurrent	$ 115,000

Revenue Recognition - Contract

Revenue Recognition - Contract Balances (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Accounts receivable	$ 590,794		$ 340,740
Contract assets	121,074	$ 90,388	41,366	$ 143,875	$ 35,182	$ 46,727
Customer deposits	121,507		75,734
Deferred revenue	$ 55,345		$ 72,328

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Increase (decrease) in accounts receivable, excluding foreign exchange transactions		$ 250,100
Contract assets	[1]	79,708	$ 97,148
Increase (decrease) in contract with customer, liability, customer deposits		$ 45,800
[1] Including changes in related party balances of $6.1 million and $3.4 million for the nine months ended September 30, 2024, and 2023, respectively.

Revenue Recognition - Contrac_2

Revenue Recognition - Contract Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Contract With Customer, Asset, After Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 90,388	$ 35,182	$ 41,366	$ 46,727
Transferred to accounts receivable from contract assets recognized at the beginning of the period	(17,193)	(8,284)	(28,926)	(31,968)
Revenue recognized and not billed as of the end of the period	47,879	116,977	108,634	129,116
Ending balance	$ 121,074	$ 143,875	$ 121,074	$ 143,875

Revenue Recognition - Contrac_3

Revenue Recognition - Contract Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Contract With Customer, Liability, Deferred Revenue [Roll Forward]
Beginning balance	$ 55,965	$ 85,110	$ 72,328	$ 94,355
Additions	245,547	243,545	651,461	733,891
Revenue recognized	(246,167)	(261,042)	(668,444)	(760,633)
Ending balance	$ 55,345	$ 67,613	$ 55,345	$ 67,613

Revenue Recognition - Revenue b

Revenue Recognition - Revenue by Source (Details) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) category	Sep. 30, 2023 USD ($)
Disaggregation of Revenue [Line Items]
Number of revenue streams | category				4
Total revenue from contracts with customers		$ 321,796	$ 383,439	$ 874,435	$ 927,501
Total revenue	[1]	330,399	400,268	901,463	976,554
Product revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers		233,770	304,976	613,442	713,427
Total revenue	[1]	233,770	304,976	613,442	713,427
Installation revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers		32,052	21,916	86,229	66,762
Total revenue	[1]	32,052	21,916	86,229	66,762
Services revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers		50,761	47,535	159,752	130,496
Total revenue	[1]	50,761	47,535	159,752	130,496
Electricity revenue
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers		5,213	9,012	15,012	16,816
Revenue from contracts that contain leases		8,603	16,829	27,028	49,053
Total revenue	[1]	$ 13,816	$ 25,841	$ 42,040	$ 65,869
[1] Including related party revenue of $126.6 million and $335.6 million for the three and nine months ended September 30, 2024, respectively, and $125.7 million and $361.0 million for the three and nine months ended September 30, 2023, respectively. 2 Including related party cost of revenue of $0.1 million for the nine months ended September 30, 2024. Related party cost of revenue for the three months ended September 30, 2024 was immaterial. There were no related party cost of revenue for the three and nine months ended September 30, 2023.

Financial Instruments - Cash an

Financial Instruments - Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Cash and cash equivalents	[1]	$ 495,677	$ 664,593
Restricted cash		53,474	80,585
Cash, cash equivalents and restricted cash		549,151	745,178	$ 637,696	$ 518,366
Cash
Debt Securities, Available-for-sale [Line Items]
Cash, cash equivalents and restricted cash		82,492	144,102
Money market funds
Debt Securities, Available-for-sale [Line Items]
Cash, cash equivalents and restricted cash		$ 466,659	$ 601,076
[1] We have a variable interest entity related to a joint venture in the Republic of Korea (see Note 15 — SK ecoplant Strategic Investment ), which represents a portion of the consolidated balances recorded within these financial statement line items.

Financial Instruments - Restric

Financial Instruments - Restricted Cash (Details) - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Cash and Cash Equivalents [Abstract]
Restricted cash, current	[1]	$ 22,548	$ 46,821
Restricted cash, non-current	[1]	30,926	33,764
Restricted cash		$ 53,474	$ 80,585
[1] We have a variable interest entity related to a joint venture in the Republic of Korea (see Note 15 — SK ecoplant Strategic Investment ), which represents a portion of the consolidated balances recorded within these financial statement line items.

Financial Instruments - Narrati

Financial Instruments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Cash and Cash Equivalents [Abstract]
Cash proceeds from derecognition of accounts receivable	$ 81.9	$ 108	$ 184.2	$ 167.6
Cost of factoring	$ 1.6	$ 2	$ 4	$ 2.7

Fair Value - Financial Assets a

Fair Value - Financial Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets
Total assets	$ 466,659	$ 601,076
Liabilities
Total liabilities	4,692	4,376
Money market funds
Assets
Money market funds	466,659	601,076
Embedded EPP derivatives
Liabilities
Derivatives	4,692	4,376
Level 1
Assets
Total assets	466,659	601,076
Liabilities
Total liabilities	0	0
Level 1 | Money market funds
Assets
Money market funds	466,659	601,076
Level 1 | Embedded EPP derivatives
Liabilities
Derivatives	0	0
Level 2
Assets
Total assets	0	0
Liabilities
Total liabilities	0	0
Level 2 | Money market funds
Assets
Money market funds	0	0
Level 2 | Embedded EPP derivatives
Liabilities
Derivatives	0	0
Level 3
Assets
Total assets	0	0
Liabilities
Total liabilities	4,692	4,376
Level 3 | Money market funds
Assets
Money market funds	0	0
Level 3 | Embedded EPP derivatives
Liabilities
Derivatives	$ 4,692	$ 4,376

Fair Value - Change in Level 3

Fair Value - Change in Level 3 Financial Assets (Details) - Embedded EPP derivatives $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 4,376
Changes in fair value	316
Ending balance	$ 4,692

Fair Value - Estimated Fair Val

Fair Value - Estimated Fair Values and Carrying Values for Customer Receivables and Debt Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	May 29, 2024	Dec. 31, 2023	Sep. 30, 2023	Aug. 31, 2020
3% Green Convertible Senior Notes due June 2029 | Senior Secured Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate	3%	3%
3% Green Convertible Senior Notes due June 2029 | Senior Secured Notes | Net Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate	3%
Total	$ 390,602		$ 0
3% Green Convertible Senior Notes due June 2029 | Senior Secured Notes | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	$ 337,215		$ 0
3% Green Convertible Senior Notes due June 2028 | Senior Secured Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate	3%		3%
3% Green Convertible Senior Notes due June 2028 | Senior Secured Notes | Net Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate	3%
Total	$ 618,132		$ 615,205
3% Green Convertible Senior Notes due June 2028 | Senior Secured Notes | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	$ 574,690		$ 673,613
2.5% Green Convertible Senior Notes due August 2025
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate	3.30%
2.5% Green Convertible Senior Notes due August 2025 | Senior Secured Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate	2.50%		2.50%	2.50%	2.50%
2.5% Green Convertible Senior Notes due August 2025 | Senior Secured Notes | Net Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	$ 114,139		$ 226,801
2.5% Green Convertible Senior Notes due August 2025 | Senior Secured Notes | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	$ 118,013		$ 260,820
4.6% Term Loan due October 2026 | Term Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate	4.60%		4.60%
4.6% Term Loan due October 2026 | Term Loan | Net Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate	4.60%
Total	$ 3,042		$ 3,085
4.6% Term Loan due October 2026 | Term Loan | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	$ 3,028		$ 2,866
4.6% Term Loan due April 2026 | Term Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate	4.60%		4.60%
4.6% Term Loan due April 2026 | Term Loan | Net Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate	4.60%
Total	$ 1,521		$ 1,542
4.6% Term Loan due April 2026 | Term Loan | Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Total	$ 1,563		$ 1,479

Balance Sheet Components - Narr

Balance Sheet Components - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Property Subject to or Available for Operating Lease [Line Items]
Inventory reserves	$ 17,300,000		$ 17,300,000		$ 18,700,000
Depreciation and amortization			39,165,000	$ 50,283,000
Variable Interest Entity, Primary Beneficiary
Property Subject to or Available for Operating Lease [Line Items]
Operating leases, depreciation expense	0	$ 3,700,000	0	10,900,000
Property, plant and equipment
Property Subject to or Available for Operating Lease [Line Items]
Depreciation and amortization	$ 13,300,000	$ 14,600,000	$ 39,200,000	$ 50,300,000

Balance Sheet Components - Inve

Balance Sheet Components - Inventories, Net (Details) - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials		$ 339,023	$ 270,414
Work-in-progress		105,207	50,632
Finished goods		140,254	181,469
Inventory, net	[1]	$ 584,484	$ 502,515
[1] We have a variable interest entity related to a joint venture in the Republic of Korea (see Note 15 — SK ecoplant Strategic Investment ), which represents a portion of the consolidated balances recorded within these financial statement line items.

Balance Sheet Components - Prep

Balance Sheet Components - Prepaid Expense and Other Current Assets (Details) - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid managed services		$ 5,682	$ 5,636
Tax receivables		5,413	3,231
Prepaid hardware and software maintenance		4,123	5,202
Receivables from employees		4,028	6,538
Prepaid workers compensation		3,515	6,851
Advance income tax provision		2,819	2,557
Prepaid rent		1,815	1,232
Interest receivable		1,719	1,697
Prepaid deferred commissions		1,123	1,178
Deferred expenses		1,101	2,257
Deposits made		972	1,702
Other prepaid expenses and other current assets		15,353	13,067
Total prepaid expenses and other current assets	[1],[2]	$ 47,663	$ 51,148
[1] We have a variable interest entity related to a joint venture in the Republic of Korea (see Note 15 — SK ecoplant Strategic Investment ), which represents a portion of the consolidated balances recorded within these financial statement line items.

Balance Sheet Components - Prop

Balance Sheet Components - Property, Plant and Equipment (Details) - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		$ 794,200	$ 774,534
Less: accumulated depreciation		(309,695)	(281,182)
Property, plant and equipment, net	[1]	484,505	493,352
Energy Servers
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		290,277	309,770
Vehicles, machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		199,541	174,549
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		122,078	94,646
Construction-in-progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		84,170	104,650
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		53,163	49,477
Computers, software and hardware
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		34,022	28,901
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross		$ 10,949	$ 12,541
[1] We have a variable interest entity related to a joint venture in the Republic of Korea (see Note 15 — SK ecoplant Strategic Investment ), which represents a portion of the consolidated balances recorded within these financial statement line items.

Balance Sheet Components - Othe

Balance Sheet Components - Other Long-Term Assets (Details) - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Deferred commissions		$ 12,500	$ 9,373
Deferred expenses		9,064	9,069
Long-term lease receivable		6,241	7,335
Deposits made		3,157	3,157
Prepaid managed services		1,847	1,646
Deferred tax asset		1,377	1,385
Prepaid and other long-term assets		15,330	18,243
Other long-term assets	[1],[2]	$ 49,516	$ 50,208
[1] We have a variable interest entity related to a joint venture in the Republic of Korea (see Note 15 — SK ecoplant Strategic Investment ), which represents a portion of the consolidated balances recorded within these financial statement line items.

Balance Sheet Components - Accr

Balance Sheet Components - Accrued Warranty and Product Performance Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Product performance	$ 12,201	$ 18,066
Product warranty	2,808	1,260
Accrued warranty liabilities	$ 15,009	$ 19,326

Balance Sheet Components - Stan

Balance Sheet Components - Standard Product Warranty Liability (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Movement in Standard Product Warranty Accrual [Roll Forward]
Accrued warranty and product performance liabilities, beginning balance	$ 19,326
Accrued warranty, net and product performance liabilities	14,466
Product performance expenditures during the period	(18,783)
Accrued warranty and product performance liabilities, ending balance	$ 15,009

Balance Sheet Components - Ac_2

Balance Sheet Components - Accrued Other Current Liabilities (Details) - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Compensation and benefits		$ 45,242	$ 47,901
General invoice and purchase order accruals		41,324	36,266
Interest payable		11,018	3,823
Sales tax liabilities		9,357	17,412
Sales-related liabilities		8,862	5,121
Accrued installation		3,471	4,939
Provision for income tax		2,754	3,374
Accrued legal expenses		2,306	1,359
Accrued consulting expenses		1,823	3,244
Finance lease liability		826	1,072
Accrued restructuring costs (Note 11)		481	3,793
Other		2,867	2,575
Accrued other current liabilities	[1],[2]	$ 130,331	$ 130,879
[1] We have a variable interest entity related to a joint venture in the Republic of Korea (see Note 15 — SK ecoplant Strategic Investment ), which represents a portion of the consolidated balances recorded within these financial statement line items.

Outstanding Loans and Securit_3

Outstanding Loans and Security Agreements - Schedule of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2024	May 29, 2024	Dec. 31, 2023	Sep. 30, 2023	Aug. 31, 2020
Debt Instrument [Line Items]
Unpaid Principal Balance	$ 1,154,563		$ 867,127
Current	114,139		0
Long- Term	1,013,297		846,633
Total	1,127,436		846,633
Total recourse debt
Debt Instrument [Line Items]
Unpaid Principal Balance	1,150,000		862,500
Current	114,139		0
Long- Term	1,008,734		842,006
Total	1,122,873		842,006
Total non-recourse debt
Debt Instrument [Line Items]
Unpaid Principal Balance	4,563		4,627
Current	0		0
Long- Term	4,563		4,627
Total	$ 4,563		4,627
3% Green Convertible Senior Notes due June 2029 | Senior Secured Notes
Debt Instrument [Line Items]
Interest Rate	3%	3%
Unpaid Principal Balance	$ 402,500	$ 402,500
Current	0
Long- Term	$ 390,602
3% Green Convertible Senior Notes due June 2029 | Senior Secured Notes | Net Carrying Value
Debt Instrument [Line Items]
Interest Rate	3%
Total	$ 390,602		$ 0
3% Green Convertible Senior Notes due June 2028 | Senior Secured Notes
Debt Instrument [Line Items]
Interest Rate	3%		3%
Unpaid Principal Balance	$ 632,500		$ 632,500
Current	0		0
Long- Term	$ 618,132		615,205
3% Green Convertible Senior Notes due June 2028 | Senior Secured Notes | Net Carrying Value
Debt Instrument [Line Items]
Interest Rate	3%
Total	$ 618,132		$ 615,205
2.5% Green Convertible Senior Notes due August 2025
Debt Instrument [Line Items]
Interest Rate	3.30%
2.5% Green Convertible Senior Notes due August 2025 | Senior Secured Notes
Debt Instrument [Line Items]
Interest Rate	2.50%		2.50%	2.50%	2.50%
Unpaid Principal Balance	$ 115,000		$ 230,000
Current	114,139		0
Long- Term	0		226,801
2.5% Green Convertible Senior Notes due August 2025 | Senior Secured Notes | Net Carrying Value
Debt Instrument [Line Items]
Total	$ 114,139		$ 226,801
4.6% Term Loan due October 2026 | Term Loan
Debt Instrument [Line Items]
Interest Rate	4.60%		4.60%
Unpaid Principal Balance	$ 3,042		$ 3,085
Current	0		0
Long- Term	$ 3,042		3,085
4.6% Term Loan due October 2026 | Term Loan | Net Carrying Value
Debt Instrument [Line Items]
Interest Rate	4.60%
Total	$ 3,042		$ 3,085
4.6% Term Loan due April 2026 | Term Loan
Debt Instrument [Line Items]
Interest Rate	4.60%		4.60%
Unpaid Principal Balance	$ 1,521		$ 1,542
Current	0		0
Long- Term	$ 1,521		1,542
4.6% Term Loan due April 2026 | Term Loan | Net Carrying Value
Debt Instrument [Line Items]
Interest Rate	4.60%
Total	$ 1,521		$ 1,542

Outstanding Loans and Securit_4

Outstanding Loans and Security Agreements - Recourse Debt Facilities Narrative (Details)		3 Months Ended		9 Months Ended
	May 29, 2024 USD ($) $ / shares	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) day $ / shares shares	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) $ / shares	Aug. 31, 2020 USD ($)
Debt Instrument [Line Items]
Gain (loss) on extinguishment of debt		$ 0	$ 1,415,000	$ 27,182,000	$ 4,288,000
Long-term debt		$ 1,127,436,000		$ 1,127,436,000		$ 846,633,000
Class A common stock
Debt Instrument [Line Items]
Common stock, par value (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001		$ 0.0001		$ 0.0001
3% Green Convertible Senior Notes due June 2029
Debt Instrument [Line Items]
Redemption price, percentage	130%
3% Green Convertible Senior Notes due June 2029 | Senior Secured Notes
Debt Instrument [Line Items]
Interest Rate	3%	3%		3%
Debt face amount	$ 402,500,000
Debt instrument, unamortized discount	12,100,000
Other issuance costs	700,000	$ 700,000		$ 900,000
Proceeds from debt, net of issuance costs	389,700,000
Debt instrument, face amount, additional purchase option	$ 52,500,000
Debt instrument, percentage of product closing price	98%
Convertible, conversion ratio	0.0479795
Debt instrument, covenant, event of default, special interest received by noteholders, period				180 days
Debt instrument, covenant, event of default, special interest received by noteholders, not To exceed		0.50%		0.50%
Debt instrument, interest rate, effective percentage	3.80%
Interest expense		$ 3,700,000		$ 5,000,000
Interest expense, contractual		3,000,000		4,100,000
Unamortized debt issuance costs		$ 11,900,000		$ 11,900,000
3% Green Convertible Senior Notes due June 2029 | Senior Secured Notes | Class A common stock
Debt Instrument [Line Items]
Debt instrument, convertible, stock price trigger (usd per share) | $ / shares	$ 20.84
Debt instrument, convertible, number of shares available for conversion | shares		25,588,011		25,588,011
3% Green Convertible Senior Notes due June 2029 | Senior Secured Notes | Class A common stock | Maximum
Debt Instrument [Line Items]
Convertible, conversion ratio	0.0155932
3% Green Convertible Senior Notes due June 2029 | Senior Secured Notes | Debt Conversion Terms One
Debt Instrument [Line Items]
Threshold trading day | day				20
Threshold consecutive trading days | day				30
3% Green Convertible Senior Notes due June 2029 | Senior Secured Notes | Debt Conversion Terms Two
Debt Instrument [Line Items]
Threshold trading day | day				5
Threshold consecutive trading days | day				5
2.5% Green Convertible Senior Notes due August 2025
Debt Instrument [Line Items]
Interest Rate		3.30%		3.30%
2.5% Green Convertible Senior Notes due August 2025 | Senior Secured Notes
Debt Instrument [Line Items]
Interest Rate		2.50%	2.50%	2.50%	2.50%	2.50%	2.50%
Proceeds from debt, net of issuance costs	$ 141,800,000
Debt instrument, covenant, event of default, special interest received by noteholders, not To exceed	50%
Interest expense		$ 1,000,000	$ 1,900,000	$ 4,500,000	$ 5,800,000
Interest expense, contractual		700,000	1,400,000	3,300,000	4,300,000
Unamortized debt issuance costs		800,000		800,000		$ 3,200,000
Debt instrument, repurchased notes percentage	1.226
Amortization of issuance costs		$ 300,000	500,000	1,200,000	1,500,000
2.5% Green Convertible Senior Notes due August 2025 | Notes
Debt Instrument [Line Items]
Secured long-term debt, noncurrent	$ 115,000,000
Debt instrument premium percentage							0.226
Debt instrument, unamortized premium							$ 26,000,000
Accrued interest							$ 800,000
Gain (loss) on extinguishment of debt				$ 27,200,000
3% Green Convertible Senior Notes due June 2028 | Senior Secured Notes
Debt Instrument [Line Items]
Interest Rate		3%		3%		3%
Other issuance costs		$ 1,000,000	1,000,000	$ 3,000,000	1,500,000
Interest expense		5,700,000	5,700,000	17,100,000	8,700,000
Interest expense, contractual		4,700,000	$ 4,700,000	14,100,000	$ 7,200,000
Unamortized debt issuance costs		$ 14,300,000		$ 14,300,000		$ 17,300,000

Outstanding Loans and Securit_5

Outstanding Loans and Security Agreements - Schedule of Repayments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Long-term Debt, Fiscal Year Maturity [Abstract]
Remainder of 2024	$ 0
2025	115,000
2026	4,563
2027	0
2028	632,500
Thereafter	402,500
Total	$ 1,154,563	$ 867,127

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Lessee, Lease, Description [Line Items]
Rent expense		$ 5,600	$ 5,700	$ 16,800	$ 17,000
Total revenue from contracts with customers		321,796	383,439	874,435	927,501
Total lease costs		9,265	9,158	27,859	26,826
Operating lease right-of-use assets	[1],[2]	133,143		133,143		$ 139,732
Operating lease, liability		155,354		155,354		162,184
Operating lease liabilities, non-current	[1],[3]	135,159		135,159		141,939
Financing obligations		390,539		390,539		405,824
Gain (loss) on financing obligations		5,000	0	5,000	0
Product
Lessee, Lease, Description [Line Items]
Total revenue from contracts with customers		233,770	304,976	613,442	713,427
Installation
Lessee, Lease, Description [Line Items]
Total revenue from contracts with customers		32,052	21,916	86,229	66,762
Sale-and-leaseback Transactions
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets		49,100		49,100		47,600
Operating lease, liability		52,200		52,200		50,100
Operating lease liabilities, non-current		44,200		44,200		43,700
Financing obligations				11,500		10,900
Financing obligations		9,400		9,400		9,300
Managed Services | Variable Interest Entity, Primary Beneficiary
Lessee, Lease, Description [Line Items]
Total lease costs		3,200	2,600	9,500	7,000
Recognition of right-of-use assets and lease liabilities from sale and leaseback transactions			$ 0
Financing obligations		411,500		411,500		$ 444,800
Managed Services | Variable Interest Entity, Primary Beneficiary | Product
Lessee, Lease, Description [Line Items]
Total revenue from contracts with customers		2,300		9,400	15,800
Managed Services | Variable Interest Entity, Primary Beneficiary | Installation
Lessee, Lease, Description [Line Items]
Total revenue from contracts with customers		$ 2,200		$ 4,500	$ 4,800
[1] We have a variable interest entity related to a joint venture in the Republic of Korea (see Note 15 — SK ecoplant Strategic Investment ), which represents a portion of the consolidated balances recorded within these financial statement line items.

Leases - Operating and Financin

Leases - Operating and Financing Lease Right-of-Use Assets and Lease Liabilities (Details) - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Assets and Liabilities, Lessee:
Operating lease right-of-use assets, net	[1],[2]	$ 133,143	$ 139,732
Current operating lease liabilities	[1],[3]	(20,195)	(20,245)
Non-current operating lease liabilities	[1],[4]	(135,159)	(141,939)
Total operating lease liabilities		$ (155,354)	$ (162,184)
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]		Property, plant and equipment, net	Property, plant and equipment, net
Finance lease right-of-use assets, net		$ 2,334	$ 2,708
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]		Accrued expenses and other current liabilities	Accrued expenses and other current liabilities
Current finance lease liabilities		$ (826)	$ (1,072)
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]		Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Non-current finance lease liabilities		$ (1,703)	$ (1,837)
Total finance lease liabilities		(2,529)	(2,909)
Total lease liabilities		$ (157,883)	$ (165,093)
[1] We have a variable interest entity related to a joint venture in the Republic of Korea (see Note 15 — SK ecoplant Strategic Investment ), which represents a portion of the consolidated balances recorded within these financial statement line items.

Leases - Costs (Details)

Leases - Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Operating lease costs	$ 9,048	$ 8,408	$ 26,990	$ 24,373
Amortization of right-of-use assets	120	294	611	689
Interest on lease liabilities	61	72	190	203
Total financing lease costs	181	366	801	892
Short-term lease costs	36	384	68	1,561
Total lease costs	$ 9,265	$ 9,158	$ 27,859	$ 26,826

Leases - Weighted Average Remai

Leases - Weighted Average Remaining Lease Terms and Discount Rates (Details)	Sep. 30, 2024	Dec. 31, 2023
Weighted average remaining lease term:
Operating leases	6 years 10 months 24 days	7 years 4 months 24 days
Finance leases	3 years 3 months 18 days	3 years 2 months 12 days
Weighted average discount rate:
Operating leases	10.50%	10.60%
Finance leases	9.60%	9.50%

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Operating Leases
Remainder of 2024	$ 9,133
2025	34,581
2026	34,474
2027	33,968
2028	27,985
2029	21,242
Thereafter	61,821
Total minimum lease payments	223,204
Less: amounts representing interest or imputed interest	(67,850)
Present value of lease liabilities	155,354	$ 162,184
Finance Leases
Remainder of 2024	295
2025	973
2026	754
2027	593
2028	264
2029	61
Thereafter	0
Total minimum lease payments	2,940
Less: amounts representing interest or imputed interest	(411)
Present value of lease liabilities	$ 2,529	$ 2,909

Leases - Financial Obligations

Leases - Financial Obligations and Sublease Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finance Leases
Remainder of 2024	$ 295
2025	973
2026	754
2027	593
2028	264
Total minimum lease payments	2,940
Less: imputed interest	(411)
Present value of lease liabilities	2,529	$ 2,909
Less: current financing obligations	(826)	(1,072)
Long-term financing obligations	1,703	$ 1,837
Variable Interest Entity, Primary Beneficiary | Managed Services
Finance Leases
Remainder of 2024	10,527
2025	42,541
2026	38,277
2027	22,376
2028	12,474
Thereafter	26,965
Total minimum lease payments	153,160
Less: imputed interest	(76,889)
Present value of lease liabilities	76,271
Less: current financing obligations	(20,920)
Long-term financing obligations	$ 55,351

Stock-Based Compensation and _3

Stock-Based Compensation and Employee Benefit Plans - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	$ 17,057	$ 21,564	$ 55,340	$ 79,596
Share-based payment arrangement, amount capitalized	10,200		10,200		$ 8,900
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	3,778	5,581	11,702	14,809
Research and development
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	5,313	5,585	16,405	21,673
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	2,684	3,015	8,044	15,089
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Share-based compensation expense	$ 5,282	$ 7,383	$ 19,189	$ 28,025

Stock-Based Compensation and _4

Stock-Based Compensation and Employee Benefit Plans - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Outstanding Options/RSUs, Number of Shares
Granted (in shares)	180,000	0	1,355,348	0
Stock options and awards
Outstanding Options/RSUs, Number of Shares
Outstanding, beginning (in shares)			7,247,624
Exercised (in shares)			(149,744)
Expired (in Shares)			(764,033)
Outstanding, ending (in shares)	7,689,195		7,689,195		7,247,624
Vested and expected to vest (in shares)	7,357,371		7,357,371
Exercisable (in shares)	6,353,847		6,353,847
Outstanding Options Weighted Average Exercise Price
Outstanding, beginning (in dollars per share)			$ 20.93
Granted (in dollars per share)			9.96
Exercised (in dollar per shares)			5.29
Expired (in dollar per shares)			27
Outstanding, ending (in dollars per share)	$ 18.68		18.68		$ 20.93
Vested and expected to vest (in dollars per share)	19.10		19.10
Exercisable (in dollars per share)	$ 20.52		$ 20.52
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Outstanding, remaining contractual life			4 years 3 months 18 days		3 years 9 months 18 days
Outstanding, aggregate intrinsic value	$ 11,206		$ 11,206		$ 19,446
Vested and expected to vest, remaining contractual life			4 years 1 month 6 days
Vested and expected to vest, aggregate intrinsic value	10,781		$ 10,781
Exercisable, remaining contractual life			3 years 2 months 12 days
Exercisable, aggregate intrinsic value	$ 9,726		$ 9,726

Stock-Based Compensation and _5

Stock-Based Compensation and Employee Benefit Plans - Stock Options Narrative (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended		12 Months Ended
	Sep. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	180,000		0	1,355,348	0
Stock options and awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 0.9		$ 0.1	$ 2.1	$ 0.3
Stock options exercised, intrinsic value	0.1		$ 1.1	0.8	$ 2.6
Unrecognized compensation cost related to unvested stock options	8.1			$ 8.1		$ 0.1
Expense expected to be recognized over remaining weighted-average period				2 years 4 months 24 days		3 months 18 days
Cash received	$ 0.1			$ 0.8
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	180,000	955,000
Expiration period				10 years
Stock-based compensation vesting period				4 years
Requisite service period				3 years

Stock-Based Compensation and _6

Stock-Based Compensation and Employee Benefit Plans - Fair Value of Shares Purchased Under Performance-based Stock Options (Details) (Details) - Performance Shares	9 Months Ended
	Sep. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate (minimum)	3.70%
Risk-free interest rate (maximum)	4.40%
Expected term (years)	6 years
Expected dividend yield	0%
Expected volatility (minimum)	95.30%
Expected volatility (maximum)	97.10%

Stock-Based Compensation and _7

Stock-Based Compensation and Employee Benefit Plans - Stock Award Activity (Details) - RSUs	9 Months Ended
	Sep. 30, 2024 $ / shares shares
Number of Awards Outstanding
Unvested balance (in shares) | shares	9,889,341
Granted (in shares) | shares	4,952,586
Vested (in shares) | shares	(2,592,393)
Forfeited (in shares) | shares	(1,418,278)
Unvested balance (in shares) | shares	10,831,256
Weighted Average Grant Date Fair Value
Unvested balance (in dollars per share) | $ / shares	$ 18.25
Granted (in dollars per share) | $ / shares	10.05
Vested (in dollars per share) | $ / shares	19.71
Forfeited (in dollars per share) | $ / shares	19.12
Unvested balance (in dollars per share) | $ / shares	$ 14.04

Stock-Based Compensation and _8

Stock-Based Compensation and Employee Benefit Plans - Stock Awards Narrative (Details) - RSUs - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 13.4	$ 19.3	$ 46.8	$ 65
Unrecognized stock-based compensation cost	$ 99.1		$ 99.1		$ 113.5
Expense expected to be recognized over a weighted-average period			2 years 1 month 6 days		2 years

Stock-Based Compensation and _9

Stock-Based Compensation and Employee Benefit Plans - Executive Awards Narrative (Details) $ in Millions		2 Months Ended	3 Months Ended
	Feb. 15, 2024	May 06, 2024	May 15, 2024	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Time Based Stock Options | 2024 Executive Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation vesting period	3 years
PSUs and Performance-based Stock Options | 2024 Executive Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation threshold vesting period		0.50
Stock-based compensation threshold target percentage		1
Stock-based compensation potential granted percentage		1.50
Restricted Stock Units, Performance Stock Units and Performance Shares | 2024 Executive Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized compensation expense				$ 14.7
Restricted Stock Units and Performance Stock Units | 2023 Executive Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized compensation expense				2.1	$ 7
Restricted Stock Units and Performance Stock Units | 2022 Executive Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized compensation expense				1.4	6.2
Restricted Stock Units and Performance Stock Units | 2021 Executive Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unamortized compensation expense				$ 4.7	$ 8.2
Minimum | RSUs | 2024 Executive Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation vesting period			2 years
Minimum | Performance Stock Units | 2024 Executive Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation vesting period	1 year
Minimum | Performance-based Stock Options | 2024 Executive Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation vesting period	3 years
Maximum | RSUs | 2024 Executive Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation vesting period			4 years
Maximum | Performance Stock Units | 2024 Executive Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation vesting period	3 years
Maximum | Performance-based Stock Options | 2024 Executive Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation vesting period	4 years

Stock-Based Compensation and_10

Stock-Based Compensation and Employee Benefit Plans - Number of Shares Available for Grant (Details)	9 Months Ended
	Sep. 30, 2024 shares
Share-based Compensation Arrangement by Share-based Payment Award, Available for Grant [Roll Forward]
Beginning balance (in shares)	32,877,906
Added to plan (in shares)	9,674,114
Granted (in shares)	(6,018,048)
Cancelled/Forfeited (in shares)	1,892,425
Expired (in shares)	(624,136)
Ending Balance (in shares)	37,802,261

Stock-Based Compensation and_11

Stock-Based Compensation and Employee Benefit Plans - Employee Stock Purchase Plan (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional shares authorized (in shares)	0	0
2018 ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock ownership plan (ESOP), compensation expense (reversal)	$ 2.7	$ 0.1	$ 4	$ 12.5
Number of shares issued (in shares)	417,467	426,170	1,049,955	875,695
Number of additional shares authorized (in shares)			2,418,528	2,239,563
Number of common stock reserved for issuance (in shares)	16,573,157		16,573,157		15,204,584
Unrecognized stock-based compensation cost	$ 7.9		$ 7.9		$ 8.8
Expense expected to be recognized over a weighted-average period			1 year 1 month 6 days		9 months 18 days

Related Party Transactions - Re

Related Party Transactions - Results of Operations (Details) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Related Party Transaction [Line Items]
Total revenue from related parties	[1]	$ 330,399,000	$ 400,268,000	$ 901,463,000	$ 976,554,000
Cost of revenue	[2]	251,665,000	405,482,000	716,132,000	871,151,000
General and administrative expenses	[3]	37,403,000	43,366,000	111,797,000	131,004,000
Related Party
Related Party Transaction [Line Items]
Total revenue from related parties		126,627,000	125,676,000	335,641,000	360,981,000
Cost of revenue		48,000	0	122,000	0
General and administrative expenses		164,000	0	525,000	0
Interest expense		$ 51,000	$ 0	153,000	$ 0
Equity Method Investee
Related Party Transaction [Line Items]
Total revenue from related parties				$ 0
[1] Including related party revenue of $126.6 million and $335.6 million for the three and nine months ended September 30, 2024, respectively, and $125.7 million and $361.0 million for the three and nine months ended September 30, 2023, respectively. 2 Including related party cost of revenue of $0.1 million for the nine months ended September 30, 2024. Related party cost of revenue for the three months ended September 30, 2024 was immaterial. There were no related party cost of revenue for the three and nine months ended September 30, 2023. Including related party cost of revenue of $0.1 million for the nine months ended September 30, 2024. Related party cost of revenue for the three months ended September 30, 2024 was immaterial. There were no related party cost of revenue for the three and nine months ended September 30, 2023. Including related party general and administrative expenses of $0.2 million and $0.5 million for the three and nine months ended September 30, 2024. There were no related party general and administrative expenses for the three and nine months ended September 30, 2023.

Related Party Transactions - _2

Related Party Transactions - Related Party Transactions and Balances (Details) $ in Thousands		12 Months Ended
		Dec. 31, 2023 USD ($) Loan	Sep. 30, 2024 USD ($)
Related Party Transaction [Line Items]
Accounts receivable	[1],[2]	$ 340,740	$ 590,794
Contract assets	[3]	41,366	121,074
Deferred cost of revenue, current	[4]	45,984	40,648
Prepaid expenses and other current assets	[1],[5]	51,148	47,663
Operating lease right-of-use assets	[1],[6]	139,732	133,143
Other long-term assets	[1],[7]	50,208	49,516
Accounts payable	[1],[8]	132,078	124,272
Accrued warranty	[9]	19,326	15,009
Accrued expenses and other current liabilities	[1],[10]	130,879	130,331
Deferred revenue and customer deposits, current	[1],[11]	128,922	142,056
Operating lease liabilities, current	[1],[12]	20,245	20,195
Operating lease liabilities, non-current	[1],[13]	141,939	135,159
Non-recourse debt		846,633	1,127,436
SK Ecoplant
Related Party Transaction [Line Items]
Accounts receivable		19,567	19,100
Prepaid expenses and other current assets		644	2,433
Operating lease right-of-use assets		2,138	1,786
Other long-term assets		46	45
Accounts payable		3,480	3,861
Accrued expenses and other current liabilities		2,347	2,856
Operating lease liabilities, current		440	480
Operating lease liabilities, non-current		$ 1,617	1,228
SK Ecoplant | Korean Joint Venture
Related Party Transaction [Line Items]
Number of term loans | Loan		2
Related Party
Related Party Transaction [Line Items]
Accounts receivable		$ 262,031	349,502
Contract assets		6,872	796
Deferred cost of revenue, current		875	0
Prepaid expenses and other current assets		2,257	1,101
Operating lease right-of-use assets		2,031	1,674
Other long-term assets		9,069	9,064
Accounts payable		77	0
Accrued warranty		1,260	2,779
Accrued expenses and other current liabilities		3,427	7,624
Deferred revenue and customer deposits, current		1,707	7,064
Operating lease liabilities, current		440	480
Deferred revenue and customer deposits, non-current		6,709	6,290
Operating lease liabilities, non-current		1,617	1,228
Non-recourse debt		$ 4,627	$ 4,563
[1] We have a variable interest entity related to a joint venture in the Republic of Korea (see Note 15 — SK ecoplant Strategic Investment ), which represents a portion of the consolidated balances recorded within these financial statement line items. 9 Including amounts from related parties of $2.8 million and $1.3 million as of September 30, 2024, and December 31, 2023, respectively.

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) $ in Millions	Sep. 30, 2024 USD ($)
Restructuring Cost and Reserve [Line Items]
Remaining restructuring cost	$ 4
Relocation
Restructuring Cost and Reserve [Line Items]
Remaining restructuring cost	3.5
Other
Restructuring Cost and Reserve [Line Items]
Remaining restructuring cost	$ 0.5

Restructuring - Restructuring C

Restructuring - Restructuring Charges and Payments and Other Deductions (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 3,793
Restructuring accrual (release)	(127)
Payments	(3,185)
Ending balance	481
Facility Closure
Restructuring Reserve [Roll Forward]
Beginning balance	2,577
Restructuring accrual (release)	(35)
Payments	(2,529)
Ending balance	13
Severance
Restructuring Reserve [Roll Forward]
Beginning balance	464
Restructuring accrual (release)	(385)
Payments	(79)
Ending balance	0
Other
Restructuring Reserve [Roll Forward]
Beginning balance	752
Restructuring accrual (release)	293
Payments	(577)
Ending balance	$ 468

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)		3 Months Ended		9 Months Ended		12 Months Ended
		Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2019	Dec. 31, 2023
Operating Leased Assets [Line Items]
Purchase obligation		$ 0		$ 0			$ 0
PPA expenses		1,900,000	$ 4,500,000	18,800,000	$ 24,400,000
Restricted cash		53,474,000		53,474,000			80,585,000
Restricted cash, non-current	[1]	30,926,000		30,926,000			33,764,000
Variable Interest Entity, Primary Beneficiary | PPA II
Operating Leased Assets [Line Items]
Restricted cash		20,500,000		20,500,000			40,400,000
Variable Interest Entity, Primary Beneficiary | PPA Company 5
Operating Leased Assets [Line Items]
Restricted cash		25,600,000		25,600,000			32,600,000
Restricted cash, non-current		$ 7,400,000		$ 7,400,000			$ 7,600,000
Variable Interest Entity, Primary Beneficiary | PPA IIIB
Operating Leased Assets [Line Items]
Restricted cash						$ 20,000,000
Restricted cash, pledged as collateral, term						7 years
Restricted cash, pledged as collateral, initial pledge period for release, term						5 years
Restricted cash, pledged as collateral, secondary pledge period for release, term						2 years
[1] We have a variable interest entity related to a joint venture in the Republic of Korea (see Note 15 — SK ecoplant Strategic Investment ), which represents a portion of the consolidated balances recorded within these financial statement line items.

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income tax (benefit)	$ 109	$ 646	$ 464	$ 1,083
Pre-tax loss	$ (14,523)	$ (167,432)	$ (131,896)	$ (310,971)
Effective income tax rate	(0.80%)	(0.40%)	(0.40%)	(0.30%)

Net Loss per Share Available _3

Net Loss per Share Available to Common Stockholders - Schedule of Antidilutive Securities (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	62,719	63,407	56,441	49,122
Convertible notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	59,955	47,736	53,357	31,146
Redeemable convertible preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	0	12,319	0	13,096
Stock options and awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities (in shares)	2,764	3,352	3,084	4,880

SK ecoplant Strategic Investm_3

SK ecoplant Strategic Investment - Narrative (Details) - Korean Joint Venture - SK Ecoplant - USD ($) $ in Millions	Jan. 31, 2024	Sep. 30, 2023
Schedule of Equity Method Investments [Line Items]
Interest owns percentage	60%	60%
Increase in aggregate capital	$ 3.9

SK ecoplant Strategic Investm_4

SK ecoplant Strategic Investment - Schedule of Aggregate Carrying Values (Details) - USD ($) $ in Thousands		Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	[1]	$ 495,677	$ 664,593
Accounts receivable	[1],[2]	590,794	340,740
Inventories	[1]	584,484	502,515
Prepaid expenses and other current assets	[1],[3]	47,663	51,148
Total current assets		1,902,888	1,693,167
Operating lease right-of-use assets	[1],[4]	133,143	139,732
Other long-term assets	[1],[5]	49,516	50,208
Total assets		2,604,517	2,413,677
Current liabilities:
Accounts payable	[1],[6]	124,272	132,078
Accrued expenses and other current liabilities	[1],[7]	130,331	130,879
Operating lease liabilities	[1],[8]	20,195	20,245
Total current liabilities		566,923	470,422
Operating lease liabilities	[1],[9]	135,159	141,939
Non-recourse debt	[1],[10]	4,563	4,627
Total liabilities		2,149,525	1,893,007
SK Ecoplant
Current assets:
Cash and cash equivalents		8,981	3,003
Accounts receivable		19,100	19,567
Inventories		8,364	8,156
Prepaid expenses and other current assets		2,433	644
Total current assets		38,878	31,370
Property and equipment, net		1,969	2,519
Operating lease right-of-use assets		1,786	2,138
Other long-term assets		45	46
Total assets		42,678	36,073
Current liabilities:
Accounts payable		3,861	3,480
Accrued expenses and other current liabilities		2,856	2,347
Operating lease liabilities		480	440
Total current liabilities		7,197	6,267
Operating lease liabilities		1,228	1,617
Non-recourse debt		4,563	4,627
Total liabilities		$ 12,988	$ 12,511
[1] We have a variable interest entity related to a joint venture in the Republic of Korea (see Note 15 — SK ecoplant Strategic Investment ), which represents a portion of the consolidated balances recorded within these financial statement line items. 9 Including amounts from related parties of $2.8 million and $1.3 million as of September 30, 2024, and December 31, 2023, respectively.