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Revenue (Tables) | 12 Months Ended
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Dec. 31, 2023
Revenue |
Schedule of disaggregation of revenue | The following table provides information about disaggregation of revenue (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Major products/services lines | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended December 31,
​ | ​ | 2023 | ​ | 2022 | ​ | 2021
Sales of fuel cell systems | ​ | $ | 181,168 | ​ | $ | 207,691 | ​ | $ | 225,229
Sales of hydrogen infrastructure | ​ | ​ | 183,606 | ​ | ​ | 141,528 | ​ | ​ | 135,055
Sales of electrolyzers | ​ | ​ | 82,611 | ​ | ​ | 28,463 | ​ | ​ | 16,667
Sales of engineered equipment | ​ | ​ | 32,361 | ​ | ​ | 93,489 | ​ | ​ | 7,571
Services performed on fuel cell systems and related infrastructure | ​ | ​ | 39,093 | ​ | ​ | 35,280 | ​ | ​ | 26,706
Power purchase agreements | ​ | ​ | 63,731 | ​ | ​ | 47,183 | ​ | ​ | 35,153
Fuel delivered to customers and related equipment | ​ | ​ | 66,246 | ​ | ​ | 57,196 | ​ | ​ | 46,917
Sales of cryogenic equipment and other | ​ | ​ | 231,687 | ​ | ​ | 87,761 | ​ | ​ | 8,255
Other | ​ | ​ | 10,837 | ​ | ​ | 2,849 | ​ | ​ | 789
Net revenue | ​ | $ | 891,340 | ​ | $ | 701,440 | ​ | $ | 502,342
Schedule of receivables, contract assets and contract liabilities from contracts with customers | The following table provides information about receivables, contract assets, and contract liabilities from contracts with customers (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | December 31,
​ | ​ | 2023 | ​ | 2022
Accounts receivable | ​ | $ | 243,811 | ​ | $ | 129,450
Contract assets | ​ | ​ | 155,989 | ​ | ​ | 104,287
Deferred revenue and contract liabilities | ​ | ​ | 288,302 | ​ | ​ | 229,898
Schedule of changes in contract assets and the contract liabilities | Significant changes in the contract assets and the contract liabilities balances during the period are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
Contract assets | ​ | ​
​ | ​ | December 31, 2023 | ​ | December 31, 2022
Transferred to receivables from contract assets recognized at the beginning of the period | ​ | $ | (94,860) | ​ | $ | (33,394)
Change in contract assets related to warrants | ​ | ​ | 14,260 | ​ | ​ | 26,455
Impairment | ​ | ​ | (2,375) | ​ | ​ | —
Revenue recognized and not billed as of the end of the period | ​ | ​ | 134,677 | ​ | ​ | 72,469
Net change in contract assets | ​ | $ | 51,702 | ​ | $ | 65,530
​
​ | ​ | ​ | ​ | ​ | ​ | ​
Deferred revenue and contract liabilities | ​ | ​
​ | ​ | December 31, 2023 | ​ | December 31, 2022
Increases due to customer billings, net of amounts recognized as revenue during the period | ​ | $ | 151,965 | ​ | $ | 200,347
Change in contract liabilities related to warrants | ​ | ​ | 440 | ​ | ​ | —
Contract liabilities assumed as part of acquisitions | ​ | ​ | — | ​ | ​ | 10,011
Revenue recognized that was included in the contract liability balance as of the beginning of the period | ​ | ​ | (94,001) | ​ | ​ | (163,550)
Net change in deferred revenue and contract liabilities | ​ | $ | 58,404 | ​ | $ | 46,808
Schedule of Estimated future revenue | The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period, including provision for common stock warrants (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | Expected recognition
​ | ​ | 2023 | ​ | period (years)
Sales of fuel cell systems | ​ | $ | 64,954 | ​ | ​ | 1 - 2
Sales of hydrogen installations and other infrastructure | ​ | ​ | 22,860 | ​ | ​ | 1
Sales of electrolyzers | ​ | ​ | 301,323 | ​ | ​ | 1 - 2
Sales of engineered equipment | ​ | ​ | 19,876 | ​ | ​ | 1
Services performed on fuel cell systems and related infrastructure | ​ | ​ | 123,080 | ​ | ​ | 5 - 10
Power purchase agreements | ​ | ​ | 435,967 | ​ | ​ | 5 - 10
Fuel delivered to customers and related equipment | ​ | ​ | 95,444 | ​ | ​ | 5 - 10
Sales of cryogenic equipment and other | ​ | ​ | 87,927 | ​ | ​ | 1
Total estimated future revenue | ​ | $ | 1,151,431 | ​ | ​ | ​
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