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Revenue from Contracts with Customers (Tables)

6 Months Ended

Jun. 30, 2024

Revenue from Contract with Customer [Abstract]

Disaggregation of revenue


		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2023			2024			2023			2024
Product revenue:
Volume-related
Fuel sales^{(1) (3)}		$	53,267		$	57,398		$	160,162		$	125,601
Change in fair value of derivative instruments⁽²⁾			3,600			61			1,068			1,683
RIN Credits			5,377			9,523			9,880			18,335
LCFS Credits			2,474			4,319			4,772			4,155
AFTC ⁽⁴⁾			5,059			6,003			9,555			11,360
Total volume-related product revenue			69,777			77,304			185,437			161,134
Station construction sales			5,852			5,656			9,919			11,240
Total product revenue			75,629			82,960			195,356			172,374
Service revenue:
Volume-related, O&M services			13,913			14,422			25,957			28,157
Other services			1,006			572			1,418			1,132
Total service revenue			14,919			14,994			27,375			29,289
Total revenue		$	90,548		$	97,954		$	222,731		$	201,663

(1)

Includes non-cash stock-based sales incentive contra-revenue charges associated with the Amazon Warrant. For the three and six months ended June 30, 2023, contra-revenue charges recognized in fuel revenue were $13.9 million and $27.7 million, respectively. For the three and six months ended June 30, 2024, contra-revenue charges recognized in fuel revenue were $14.1 million and $27.0 million, respectively. See Note 14 for more information.

(2)

Represents changes in fair value of unsettled derivative instruments relating to the Company’s commodity swap and customer fueling contracts associated with the Company’s truck financing program. The amounts are classified as revenue because the Company’s commodity swap contracts are used to economically offset the risk associated with the diesel-to-natural gas price spread resulting from customer fueling contracts under the Company’s truck financing program. See Note 6 for more information about these derivative instruments.

(3)

Includes net settlement of the Company’s commodity swap derivative instruments. For the three and six months ended June 30, 2023, net settlement payments recognized in fuel revenue were $1.4 million and $1.0 million, respectively. For the three and six months ended June 30, 2024, net settlement payments recognized in fuel revenue were $0.9 million and $2.4 million, respectively.

(4)	Represents the federal alternative fuel excise tax credit (“AFTC”). See Note 19 for more information.

Summary of contract balances

As of December 31, 2023 and June 30, 2024, the Company’s contract balances were as follows (in thousands):


		December 31,			June 30,
		2023			2024
Accounts receivable, net		$	98,426		$	92,108

Contract assets - current		$	7,823		$	6,317
Contract assets - non-current			2,433			2,174
Contract assets - total		$	10,256		$	8,491

Contract liabilities - current		$	4,936		$	7,794
Contract liabilities - non-current			151			113
Contract liabilities - total		$	5,087		$	7,907