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Revenue from Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

Disaggregation of revenue


		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2023			2024			2023			2024
Product revenue:
Volume-related
Fuel sales^{(1) (3)}		$	60,006		$	64,116		$	220,168		$	189,717
Change in fair value of derivative instruments⁽²⁾			(1,372)			(1,416)			(304)			267
RIN Credits			6,784			11,066			16,664			29,401
LCFS Credits			2,846			1,924			7,618			6,079
AFTC ⁽⁴⁾			5,422			6,390			14,977			17,750
Total volume-related product revenue			73,686			82,080			259,123			243,214
Station construction sales			7,593			7,820			17,512			19,060
Total product revenue			81,279			89,900			276,635			262,274
Service revenue:
Volume-related, O&M services			13,646			14,406			39,603			42,563
Other services			646			570			2,064			1,702
Total service revenue			14,292			14,976			41,667			44,265
Total revenue		$	95,571		$	104,876		$	318,302		$	306,539

(1)

Includes non-cash stock-based sales incentive contra-revenue charges associated with the Amazon Warrant. For the three and nine months ended September 30, 2023, contra-revenue charges recognized in fuel revenue were $16.8 million and $44.5 million, respectively. For the three and nine months ended September 30, 2024, contra-revenue charges recognized in fuel revenue were $15.8 million and $42.7 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 nine months ended September 30, 2023, net settlement payments recognized in fuel revenue were $1.9 million and $2.9 million, respectively. For the three and nine months ended September 30, 2024, net settlement payments recognized in fuel revenue were $0.0 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 September 30, 2024, the Company’s contract balances were as follows (in thousands):


		December 31,			September 30,
		2023			2024
Accounts receivable, net		$	98,426		$	93,046

Contract assets - current		$	7,823		$	4,951
Contract assets - non-current			2,433			2,045
Contract assets - total		$	10,256		$	6,996

Contract liabilities - current		$	4,936		$	5,842
Contract liabilities - non-current			151			95
Contract liabilities - total		$	5,087		$	5,937