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v3.25.2

Segment information | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Segment information | 18. Segment information We currently operate in one business segment, the manufacturing and servicing of solar tracker systems. We consider our segment results to be the same as our consolidated results and our segment accounting policies to be the same as those described in Note 2, "Summary of significant accounting policies" above. We report our revenue based on the products and services we provide. Product revenue is derived from the sale of solar tracker systems and customized components for those systems, individual part sales for certain specific transactions and the sale of term-based software licenses. Service revenue includes revenue from shipping and handling services, engineering consulting and pile testing services, our subscription-based enterprise licensing model and maintenance and support services in connection with the term-based software licenses. Based on certain significant period cost information regularly provided to our Chief Operating Decision Maker, following is a reconciliation of such costs to our consolidated net loss for the three and six months ended June 30, 2025 and 2024:
|  | Three months ended June 30, |  |  | Six months ended June 30, |
($ in thousands) |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |
Product |  | $ | 15,867 |  |  | $ | 8,776 |  |  | $ | 34,069 |  |  | $ | 19,681 |
Service |  |  | 4,126 |  |  |  | 2,654 |  |  |  | 6,727 |  |  |  | 4,336 |
Total revenue |  |  | 19,993 |  |  |  | 11,430 |  |  |  | 40,796 |  |  |  | 24,017 |
Cost of revenue |  |  |  |  |  |  |  |  |  |  |  |
Product |  |  | 18,876 |  |  |  | 10,467 |  |  |  | 38,987 |  |  |  | 22,834 |
Service |  |  | 5,036 |  |  |  | 3,306 |  |  |  | 9,175 |  |  |  | 5,634 |
Total cost of revenue |  |  | 23,912 |  |  |  | 13,773 |  |  |  | 48,162 |  |  |  | 28,468 |
Gross loss |  |  | (3,919 | ) |  |  | (2,343 | ) |  |  | (7,366 | ) |  |  | (4,451 | )
Less: significant segment period costs: |  |  |  |  |  |  |  |  |  |  |  |
Stock-based compensation expense |  |  | (688 | ) |  |  | (1,045 | ) |  |  | (725 | ) |  |  | (2,468 | )
Personnel costs (excluding stock-based compensation) |  |  | (3,516 | ) |  |  | (4,329 | ) |  |  | (7,826 | ) |  |  | (8,599 | )
Credit loss (credits) provisions |  |  | (284 | ) |  |  | 83 |  |  |  | (192 | ) |  |  | (587 | )
Other segment expenses(1) |  |  | (3,092 | ) |  |  | (4,290 | ) |  |  | (5,950 | ) |  |  | (8,321 | )
Interest expense |  |  | (731 | ) |  |  | (117 | ) |  |  | (1,442 | ) |  |  | (434 | )
Interest income |  |  | 5 |  |  |  | 118 |  |  |  | 11 |  |  |  | 299 |
Gain from disposal of investment in unconsolidated subsidiary |  |  | — |  |  |  | — |  |  |  | 3,204 |  |  |  | 4,085 |
Gain on sale of Atlas |  |  | 50 |  |  |  | — |  |  |  | 50 |  |  |  | — |
Gain (loss) from change in fair value of warrant liability |  |  | (2,836 | ) |  |  | — |  |  |  | 1,768 |  |  |  | — |
Other income (expense), net |  |  | 71 |  |  |  | (7 | ) |  |  | 75 |  |  |  | 29 |
Loss from unconsolidated subsidiary |  |  | (451 | ) |  |  | (246 | ) |  |  | (563 | ) |  |  | (511 | )
Provision for income taxes |  |  | (39 | ) |  |  | (65 | ) |  |  | (293 | ) |  |  | (54 | )
Net loss |  | $ | (15,430 | ) |  | $ | (12,241 | ) |  | $ | (19,249 | ) |  | $ | (21,012 | )
Supplemental information: |  |  |  |  |  |  |  |  |  |  |  |
Indirect personnel costs (excluding stock-based compensation) in cost of revenue |  | $ | 2,455 |  |  | $ | 2,816 |  |  | $ | 4,958 |  |  | $ | 5,770 |
Total depreciation and amortization expense |  | $ | 305 |  |  | $ | 408 |  |  | $ | 607 |  |  | $ | 812 |
Capital expenditures |  | $ | 185 |  |  | $ | 699 |  |  | $ | 268 |  |  | $ | 1,131 |
Total assets at period end |  | $ | 82,955 |  |  | $ | 100,350 |  |  | $ | 82,955 |  |  | $ | 100,350 |
(1) - | Other segment expenses include research and development material and lab expenditures, professional services, marketing, employee travel, facility, insurance, depreciation and amortization and certain other period costs.

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