XML 33 R25.htm IDEA: XBRL DOCUMENT
v3.26.1

Segment information | 6 Months Ended
--- | ---
Jun. 30, 2026
Segment Reporting [Abstract] |
Segment information | 17. 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 income (loss) for the three and six months ended June 30, 2026 and 2025:
|  | Three months ended June 30, |  |  | Six months ended June 30, |
($ in thousands) |  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |
Product |  | $ | 22,405 |  |  | $ | 15,867 |  |  | $ | 34,167 |  |  | $ | 34,069 |
Service |  |  | 3,752 |  |  |  | 4,126 |  |  |  | 9,255 |  |  |  | 6,727 |
Total revenue |  |  | 26,157 |  |  |  | 19,993 |  |  |  | 43,422 |  |  |  | 40,796 |
Cost of revenue |  |  |  |  |  |  |  |  |  |  |  |
Product |  |  | 24,605 |  |  |  | 18,876 |  |  |  | 38,413 |  |  |  | 38,987 |
Service |  |  | 3,786 |  |  |  | 5,036 |  |  |  | 8,470 |  |  |  | 9,175 |
Total cost of revenue |  |  | 28,391 |  |  |  | 23,912 |  |  |  | 46,883 |  |  |  | 48,162 |
Gross loss |  |  | (2,234 | ) |  |  | (3,919 | ) |  |  | (3,461 | ) |  |  | (7,366 | )
Less: significant segment period costs: |  |  |  |  |  |  |  |  |  |  |  |
Stock-based compensation expense |  |  | (1,519 | ) |  |  | (688 | ) |  |  | (4,211 | ) |  |  | (725 | )
Personnel costs (excluding stock-based compensation) |  |  | (5,409 | ) |  |  | (3,516 | ) |  |  | (9,137 | ) |  |  | (7,826 | )
Credit loss credits (provisions) |  |  | 40 |  |  |  | (284 | ) |  |  | 38 |  |  |  | (192 | )
Other segment expenses(1) |  |  | (4,605 | ) |  |  | (3,092 | ) |  |  | (9,014 | ) |  |  | (5,950 | )
Interest expense |  |  | (4,333 | ) |  |  | (731 | ) |  |  | (8,229 | ) |  |  | (1,442 | )
Interest income |  |  | 5 |  |  |  | 5 |  |  |  | 10 |  |  |  | 11 |
Gain from disposal of investment in unconsolidated subsidiary |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,204 |
Gain on sale of Atlas |  |  | 26 |  |  |  | 50 |  |  |  | 26 |  |  |  | 50 |
Gain (loss) from change in fair value of warrant liability |  |  | (8,887 | ) |  |  | (2,836 | ) |  |  | 39,855 |  |  |  | 1,768 |
Other income, net |  |  | 9 |  |  |  | 71 |  |  |  | 10 |  |  |  | 75 |
Loss from unconsolidated subsidiary |  |  | — |  |  |  | (451 | ) |  |  | — |  |  |  | (563 | )
Provision for income taxes |  |  | (217 | ) |  |  | (39 | ) |  |  | (412 | ) |  |  | (293 | )
Net income (loss) |  | $ | (27,124 | ) |  | $ | (15,430 | ) |  | $ | 5,475 |  |  | $ | (19,249 | )
Supplemental information: |  |  |  |  |  |  |  |  |  |  |  |
Indirect personnel costs (excluding stock-based compensation) in cost of revenue |  | $ | 2,515 |  |  | $ | 2,455 |  |  | $ | 5,161 |  |  | $ | 4,958 |
Total depreciation and amortization expense |  | $ | 430 |  |  | $ | 305 |  |  | $ | 795 |  |  | $ | 607 |
Capital expenditures |  | $ | 319 |  |  | $ | 185 |  |  | $ | 595 |  |  | $ | 268 |
Total assets at period end |  | $ | 98,059 |  |  | $ | 82,955 |  |  | $ | 98,059 |  |  | $ | 82,955 |
(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.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for segment reporting. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 18: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 19: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 20: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 21: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 22: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration