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Revenue from Contracts with Customers (Tables) | 12 Months Ended
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Dec. 31, 2024
Revenue from Contract with Customer [Abstract] |
Disaggregation of revenue | The table below presents the Company’s revenue disaggregated by revenue source (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Year Ended December 31,
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ |  | 2022 |  | 2023 |  | 2024
Product revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Volume-related | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fuel sales(1) (3) | ​ | ​ | $ | 281,103 | ​ | $ | 286,956 | ​ | $ | 258,858
Change in fair value of derivative instruments(2) | ​ | ​ | ​ | 517 | ​ | ​ | (158) | ​ | ​ | (131)
RIN Credits | ​ | ​ | ​ | 34,635 | ​ | ​ | 25,860 | ​ | ​ | 39,019
LCFS Credits | ​ | ​ | ​ | 12,634 | ​ | ​ | 9,885 | ​ | ​ | 9,954
AFTC (4) | ​ | ​ |  | 21,760 | ​ |  | 20,854 | ​ |  | 23,817
Total volume-related product revenue | ​ | ​ | ​ | 350,649 | ​ | ​ | 343,397 | ​ | ​ | 331,517
Station construction sales | ​ | ​ | ​ | 22,346 | ​ | ​ | 26,427 | ​ | ​ | 25,192
Total product revenue | ​ | ​ |  | 372,995 | ​ |  | 369,824 | ​ |  | 356,709
Service revenue: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Volume-related, O&M services | ​ | ​ | ​ | 45,901 | ​ | ​ | 52,660 | ​ | ​ | 56,886
Other services | ​ | ​ | ​ | 1,268 | ​ | ​ | 2,675 | ​ | ​ | 2,270
Total service revenue | ​ | ​ | ​ | 47,169 | ​ | ​ | 55,335 | ​ | ​ | 59,156
Total revenue | ​ | ​ | $ | 420,164 | ​ | $ | 425,159 | ​ | $ | 415,865
(1) | Includes non-cash stock-based sales incentive contra-revenue charges associated with the Amazon Warrant for the years ended December 31, 2022, 2023 and 2024 of $24.3 million, $60.6 million and $60.8 million, respectively. See Note 12 for more information.
(2) | Represents changes in fair value of derivative instruments related to the Company’s commodity swap and customer fueling contracts associated with the Company’s Zero Now 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 Zero Now truck financing program. See Note 1 and Note 6 for more information about these derivative instruments.
(3) | Includes net settlement of the Company’s commodity swap derivative instruments. For the year ended December 31, 2022, 2023 and 2024, net settlement payments recognized in fuel revenue were $7.8 million, $4.9 million and $2.4 million, respectively
(4) | Represents AFTC. See Note 1 for more information.
The table below presents the financial information of the Joint Development with Tourmaline included in the consolidated statements of operations (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31,
​ |  | 2023 |  | 2024
Revenue | ​ | $ | 322 | ​ | $ | 588
Gross profit | ​ | ​ | 98 | ​ | ​ | 203
Operating loss | ​ | ​ | (310) | ​ | $ | (511)
Summary of contract balances | As of December 31, 2023 and 2024, the Company’s contract balances were as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, |  | December 31,
​ | ​ | 2023 | ​ | 2024
Accounts receivable, net | ​ | $ | 98,426 | ​ | $ | 107,683
​ | ​ | ​ | ​ |  | ​ | ​
Contract assets - current | ​ | $ | 7,823 | ​ | $ | 2,987
Contract assets - non-current | ​ |  | 2,433 | ​ |  | 1,945
Contract assets - total | ​ | $ | 10,256 | ​ | $ | 4,932
​ | ​ | ​ | ​ |  | ​ | ​
Contract liabilities - current | ​ | $ | 4,936 | ​ | $ | 6,870
Contract liabilities - non-current | ​ |  | 151 | ​ |  | 76
Contract liabilities - total | ​ | $ | 5,087 | ​ | $ | 6,946

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
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