2022 Q2 Form 10-Q Financial Statement

#000155837022009853 Filed on June 09, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2021 Q4 2021 Q2
Revenue $16.38M $13.94M $13.95M
YoY Change 17.42% -18.02% -26.1%
Cost Of Revenue $23.69M $22.30M $18.71M
YoY Change 26.64% -10.94% -0.02%
Gross Profit -$7.310M -$8.365M -$4.756M
YoY Change 53.7% 3.98% -2947.9%
Gross Profit Margin -44.62% -60.03% -34.09%
Selling, General & Admin $13.23M $10.68M $9.670M
YoY Change 36.86% 40.58% 34.91%
% of Gross Profit
Research & Development $7.673M $3.505M $2.964M
YoY Change 158.87% 138.44% 159.77%
% of Gross Profit
Depreciation & Amortization $5.332M $4.951M $4.812M
YoY Change 10.81% -10.79% 7.65%
% of Gross Profit
Operating Expenses $20.91M $14.19M $12.63M
YoY Change 65.48% 56.27% 52.05%
Operating Profit -$28.22M -$22.55M -$17.39M
YoY Change 62.26% 31.73% 113.58%
Interest Expense $1.707M -$1.701M $1.563M
YoY Change 9.21% -16.62% -56.39%
% of Operating Profit
Other Income/Expense, Net -$202.0K $103.0K $32.00K
YoY Change -731.25% -66.77% -90.59%
Pretax Income -$30.13M -$24.15M -$18.92M
YoY Change 59.22% 28.13% 28.21%
Income Tax $0.00 -$1.000K -$4.000K
% Of Pretax Income
Net Earnings -$30.22M -$24.18M -$18.92M
YoY Change 59.73% 28.24% 28.09%
Net Earnings / Revenue -184.43% -173.53% -135.58%
Basic Earnings Per Share -$0.08 -$0.06
Diluted Earnings Per Share -$0.08 -$65.88K -$0.06
COMMON SHARES
Basic Shares Outstanding 372.6M 366.7M 322.5M
Diluted Shares Outstanding 372.6M 322.5M

Balance Sheet

Concept 2022 Q2 2021 Q4 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $467.8M $432.2M $139.1M
YoY Change 236.32% 188.33% 377.96%
Cash & Equivalents $467.8M $432.2M $139.1M
Short-Term Investments
Other Short-Term Assets $13.60M $9.177M $10.32M
YoY Change 31.84% 45.53% 81.89%
Inventory $82.88M $67.07M $58.92M
Prepaid Expenses
Receivables $15.47M $14.73M $12.15M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $595.2M $543.4M $245.6M
YoY Change 142.4% 132.24% 120.47%
LONG-TERM ASSETS
Property, Plant & Equipment $44.77M $39.42M $35.42M
YoY Change 26.4% 8.49% -8.08%
Goodwill $4.100M $4.100M $4.100M
YoY Change 0.0% 0.61% 0.61%
Intangibles $18.00M $18.70M $19.30M
YoY Change -6.74% -6.35% -6.38%
Long-Term Investments
YoY Change
Other Assets $15.54M $17.00M $16.53M
YoY Change -5.95% 10.82% 52.31%
Total Long-Term Assets $351.0M $331.9M $290.0M
YoY Change 21.02% 14.61% 2.39%
TOTAL ASSETS
Total Short-Term Assets $595.2M $543.4M $245.6M
Total Long-Term Assets $351.0M $331.9M $290.0M
Total Assets $946.2M $875.2M $535.6M
YoY Change 76.67% 67.18% 35.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.52M $19.27M $15.88M
YoY Change 22.92% 101.2% 17.08%
Accrued Expenses $24.01M $16.10M $13.42M
YoY Change 78.93% 2.67% 23.05%
Deferred Revenue $25.90M $6.287M $17.46M
YoY Change 48.32% -39.54% 38.28%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $9.919M $10.09M $8.575M
YoY Change 15.67% -54.78% -41.67%
Total Short-Term Liabilities $80.30M $52.77M $56.22M
YoY Change 42.84% -10.41% 6.87%
LONG-TERM LIABILITIES
Long-Term Debt $75.03M $77.62M $74.33M
YoY Change 0.94% -54.04% -61.53%
Other Long-Term Liabilities $79.52M $78.63M $75.58M
YoY Change 5.22% -47.8% 90.86%
Total Long-Term Liabilities $79.52M $78.63M $75.58M
YoY Change 5.22% -47.8% -67.53%
TOTAL LIABILITIES
Total Short-Term Liabilities $80.30M $52.77M $56.22M
Total Long-Term Liabilities $79.52M $78.63M $75.58M
Total Liabilities $185.8M $169.9M $166.7M
YoY Change 11.47% -36.86% -41.61%
SHAREHOLDERS EQUITY
Retained Earnings -$1.336B -$1.265B -$1.229B
YoY Change 8.71% 8.68% 8.77%
Common Stock $2.028B $1.909B $1.539B
YoY Change 31.8% 40.38% 30.41%
Preferred Stock
YoY Change
Treasury Stock (at cost) $718.0K $586.0K $503.0K
YoY Change 42.74% 35.65% 15.1%
Treasury Stock Shares $99.66K $73.43K $61.84K
Shareholders Equity $691.1M $642.4M $309.0M
YoY Change
Total Liabilities & Shareholders Equity $946.2M $875.2M $535.6M
YoY Change 76.67% 67.18% 35.72%

Cashflow Statement

Concept 2022 Q2 2021 Q4 2021 Q2
OPERATING ACTIVITIES
Net Income -$30.22M -$24.18M -$18.92M
YoY Change 59.73% 28.24% 28.09%
Depreciation, Depletion And Amortization $5.332M $4.951M $4.812M
YoY Change 10.81% -10.79% 7.65%
Cash From Operating Activities -$16.95M -$9.853M -$10.84M
YoY Change 56.36% -19.24% 32.06%
INVESTING ACTIVITIES
Capital Expenditures -$13.32M -$29.02M -$17.58M
YoY Change -24.23% 251.36% 193.03%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$13.32M -$29.02M -$17.58M
YoY Change -24.23% 251.36% 193.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 114.5M 5.139M -9.924M
YoY Change -1254.22% -95.11% -172.12%
NET CHANGE
Cash From Operating Activities -16.95M -9.853M -10.84M
Cash From Investing Activities -13.32M -29.02M -17.58M
Cash From Financing Activities 114.5M 5.139M -9.924M
Net Change In Cash 84.27M -33.74M -38.35M
YoY Change -319.75% -139.86% 8421.78%
FREE CASH FLOW
Cash From Operating Activities -$16.95M -$9.853M -$10.84M
Capital Expenditures -$13.32M -$29.02M -$17.58M
Free Cash Flow -$3.631M $19.17M $6.740M
YoY Change -153.87% -586.52% -404.98%

Facts In Submission

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fcel Loss On Extinguishment Of Preferred Stock Obligation Of Subsidiary
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us-gaap Fair Value Adjustment Of Warrants
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2022Q1 us-gaap Stock Issued During Period Value Issued For Services
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CY2022Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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1470000
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CY2022Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
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CY2022Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2022Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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CY2022Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
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1695000
CY2022Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
800000
CY2022Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
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CY2022Q2 fcel Noncontrolling Interest Increase From Reclassfication
NoncontrollingInterestIncreaseFromReclassfication
12419000
CY2022Q2 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
496000
CY2022Q2 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
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CY2022Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
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CY2022Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
194548000
CY2021Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
156366000
CY2021Q1 fcel Exercise Of Warrants
ExerciseOfWarrants
21824000
CY2021Q1 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
45000
CY2021Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
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CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1417000
CY2021Q1 us-gaap Dividends Preferred Stock
DividendsPreferredStock
800000
CY2021Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
58000
CY2021Q1 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
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CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2021Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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CY2021Q2 fcel Exercise Of Warrants
ExerciseOfWarrants
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CY2021Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
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CY2021Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
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CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1253000
CY2021Q2 us-gaap Dividends Preferred Stock
DividendsPreferredStock
800000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
10412000
CY2021Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-60000
CY2021Q2 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
-18917000
CY2021Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
309049000
us-gaap Profit Loss
ProfitLoss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Share Based Compensation
ShareBasedCompensation
3165000
us-gaap Share Based Compensation
ShareBasedCompensation
2670000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
11103000
us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
15974000
fcel Non Cash Charge Benefit For Extinguishment Of Preferred Stock Obligation Of Subsidiary
NonCashChargeBenefitForExtinguishmentOfPreferredStockObligationOfSubsidiary
-934000
fcel Amortization Of Bond Premium
AmortizationOfBondPremium
2099000
fcel Amortization Of Bond Premium
AmortizationOfBondPremium
2475000
fcel Non Cash Charge For Extinguishment Of Debt
NonCashChargeForExtinguishmentOfDebt
7156000
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
523000
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
228000
us-gaap Operating Lease Expense
OperatingLeaseExpense
779000
us-gaap Operating Lease Expense
OperatingLeaseExpense
761000
us-gaap Operating Lease Payments
OperatingLeasePayments
730000
us-gaap Operating Lease Payments
OperatingLeasePayments
586000
fcel Impairment Of Property Plant And Equipment And Project Assets
ImpairmentOfPropertyPlantAndEquipmentAndProjectAssets
976000
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-578000
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
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us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
134000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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us-gaap Increase Decrease In Accounts Receivable
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1382000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
2584000
fcel Increase Decrease In Contract With Customer Unbilled Receivables
IncreaseDecreaseInContractWithCustomerUnbilledReceivables
242000
fcel Increase Decrease In Contract With Customer Unbilled Receivables
IncreaseDecreaseInContractWithCustomerUnbilledReceivables
645000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
20021000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
13617000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
6154000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2930000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2568000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
3280000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
8057000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
11400000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
2262000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
10395000
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
960000
fcel Investment In Long Term Project Assets
InvestmentInLongTermProjectAssets
18693000
fcel Investment In Long Term Project Assets
InvestmentInLongTermProjectAssets
21212000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-29088000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
4857000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
91669000
fcel Proceeds From Issuance Of Common Stock Issued For Stock Plans And Related Expenses
ProceedsFromIssuanceOfCommonStockIssuedForStockPlansAndRelatedExpenses
26000
fcel Proceeds From Issuance Of Common Stock Issued For Stock Plans And Related Expenses
ProceedsFromIssuanceOfCommonStockIssuedForStockPlansAndRelatedExpenses
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CY2022Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
44200000
us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
12419000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
496000
us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
95000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
286000
fcel Repayment Of Preferred Share Obligation
RepaymentOfPreferredShareObligation
21541000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
118264000
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
156368000
fcel Proceeds From Sale Of Common Stock And Warrant Exercises Net
ProceedsFromSaleOfCommonStockAndWarrantExercisesNet
923000
fcel Payment Of Preferred Dividends And Return Of Capital
PaymentOfPreferredDividendsAndReturnOfCapital
1600000
fcel Payment Of Preferred Dividends And Return Of Capital
PaymentOfPreferredDividendsAndReturnOfCapital
1600000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
123375000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
42466000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
29340000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
460212000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
192052000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
489552000
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
171182000
us-gaap Interest Paid Net
InterestPaidNet
815000
us-gaap Interest Paid Net
InterestPaidNet
8790000
fcel Noncash Operating Lease Liabilities
NoncashOperatingLeaseLiabilities
1459000
fcel Noncash Operating Lease Right Of Use Assets
NoncashOperatingLeaseRightOfUseAssets
1459000
fcel Net Noncash Reclassifications Of Project Assets To Inventory
NetNoncashReclassificationsOfProjectAssetsToInventory
4217000
fcel Net Noncash Reclassifications Of Project Assets To Inventory
NetNoncashReclassificationsOfProjectAssetsToInventory
8929000
fcel Net Non Cash Reclassifications Of Other Assets To Project Assets
NetNonCashReclassificationsOfOtherAssetsToProjectAssets
2375000
fcel Noncash Warrant Exercises
NoncashWarrantExercises
21170000
fcel Accrued Purchase Of Fixed Assets
AccruedPurchaseOfFixedAssets
848000
fcel Accrued Purchase Of Fixed Assets
AccruedPurchaseOfFixedAssets
491000
fcel Accrued Purchase Of Project Assets
AccruedPurchaseOfProjectAssets
5085000
fcel Accrued Purchase Of Project Assets
AccruedPurchaseOfProjectAssets
3078000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
36700000
us-gaap Use Of Estimates
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 0pt;"><span style="font-style:italic;font-weight:bold;">Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 10pt 0pt;">The preparation of financial statements and related disclosures in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosure of contingent assets and liabilities. Estimates are used in accounting for, among other things, revenue recognition, excess, slow-moving and obsolete inventories, product warranty accruals, loss accruals on service agreements, share-based compensation expense, allowance for doubtful accounts, depreciation and amortization, impairment of goodwill and in-process research and development intangible assets, impairment of long-lived assets (including project assets), lease liabilities and right-of-use (“ROU”) assets, and contingencies. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the consolidated financial statements in the period they are determined to be necessary. Due to the inherent uncertainty involved in making estimates, actual results in future periods may differ from those estimates.</p>
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
467800000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
432200000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-5400000
CY2022Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
20700000
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
20500000
CY2022Q2 us-gaap Accounts Receivable Billed For Long Term Contracts Or Programs
AccountsReceivableBilledForLongTermContractsOrPrograms
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CY2021Q4 us-gaap Accounts Receivable Billed For Long Term Contracts Or Programs
AccountsReceivableBilledForLongTermContractsOrPrograms
13854000
CY2022Q2 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
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CY2021Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
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CY2022Q2 fcel Commercial Customers Accounts Receivable
CommercialCustomersAccountsReceivable
19472000
CY2021Q4 fcel Commercial Customers Accounts Receivable
CommercialCustomersAccountsReceivable
21029000
CY2022Q2 fcel Advanced Technologies Including Us Government Amount Billed Receivable
AdvancedTechnologiesIncludingUSGovernmentAmountBilledReceivable
4585000
CY2021Q4 fcel Advanced Technologies Including Us Government Amount Billed Receivable
AdvancedTechnologiesIncludingUSGovernmentAmountBilledReceivable
876000
CY2022Q2 fcel Advanced Technologies Including Us Government Unbilled Receivables
AdvancedTechnologiesIncludingUSGovernmentUnbilledReceivables
1614000
CY2021Q4 fcel Advanced Technologies Including Us Government Unbilled Receivables
AdvancedTechnologiesIncludingUSGovernmentUnbilledReceivables
1749000
CY2022Q2 fcel Advanced Technologies Including Us Government Accounts Receivable
AdvancedTechnologiesIncludingUSGovernmentAccountsReceivable
6199000
CY2021Q4 fcel Advanced Technologies Including Us Government Accounts Receivable
AdvancedTechnologiesIncludingUSGovernmentAccountsReceivable
2625000
CY2022Q2 fcel Accounts Receivable Net And Unbilled Receivables
AccountsReceivableNetAndUnbilledReceivables
25671000
CY2021Q4 fcel Accounts Receivable Net And Unbilled Receivables
AccountsReceivableNetAndUnbilledReceivables
23654000
CY2022Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
0
CY2022Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
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CY2021Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
25968000
CY2022Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
59249000
CY2021Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
45692000
CY2022Q2 fcel Inventory Current And Non Current
InventoryCurrentAndNonCurrent
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CY2021Q4 fcel Inventory Current And Non Current
InventoryCurrentAndNonCurrent
71660000
CY2022Q2 us-gaap Inventory Net
InventoryNet
82878000
CY2021Q4 us-gaap Inventory Net
InventoryNet
67074000
CY2022Q2 us-gaap Inventory Noncurrent
InventoryNoncurrent
4586000
CY2021Q4 us-gaap Inventory Noncurrent
InventoryNoncurrent
4586000
CY2022Q2 fcel Completed Standard Component And Modules
CompletedStandardComponentAndModules
45700000
CY2021Q4 fcel Completed Standard Component And Modules
CompletedStandardComponentAndModules
39700000
CY2022Q2 fcel Project Asset Accumulated Depreciation
ProjectAssetAccumulatedDepreciation
24268000
CY2021Q4 fcel Project Asset Accumulated Depreciation
ProjectAssetAccumulatedDepreciation
19844000
CY2022Q2 fcel Long Term Project Assets
LongTermProjectAssets
239864000
CY2021Q4 fcel Long Term Project Assets
LongTermProjectAssets
223277000
fcel Number Of Project Assets
NumberOfProjectAssets
10
CY2021 fcel Number Of Project Assets
NumberOfProjectAssets
9
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.21
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.08
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.06
CY2022Q2 fcel Long Term Project Assets Construction In Progress
LongTermProjectAssetsConstructionInProgress
98800000
CY2021Q4 fcel Long Term Project Assets Construction In Progress
LongTermProjectAssetsConstructionInProgress
126800000
CY2022Q2 us-gaap Goodwill
Goodwill
4100000
CY2021Q4 us-gaap Goodwill
Goodwill
4100000
CY2022Q2 us-gaap Intangible Assets Net Excluding Goodwill
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18000000.0
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
18700000
CY2022Q2 us-gaap Finite Lived Intangible Assets Gross
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21912000
CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3891000
CY2022Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
18021000
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
21912000
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
3242000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
18670000
CY2022Q2 fcel Advance Payments To Vendors
AdvancePaymentsToVendors
7097000
CY2021Q4 fcel Advance Payments To Vendors
AdvancePaymentsToVendors
4005000
CY2022Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
6505000
CY2021Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
5172000
CY2022Q2 us-gaap Other Assets Current
OtherAssetsCurrent
13602000
CY2021Q4 us-gaap Other Assets Current
OtherAssetsCurrent
9177000
CY2021Q4 fcel Long Term Stack Residual Value
LongTermStackResidualValue
263000
CY2022Q2 fcel Contract With Customer Unbilled Receivables Noncurrent
ContractWithCustomerUnbilledReceivablesNoncurrent
10542000
CY2021Q4 fcel Contract With Customer Unbilled Receivables Noncurrent
ContractWithCustomerUnbilledReceivablesNoncurrent
11581000
CY2022Q2 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
5000000
CY2021Q4 us-gaap Other Assets Miscellaneous Noncurrent
OtherAssetsMiscellaneousNoncurrent
5154000
CY2022Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
15542000
CY2021Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
16998000
CY2016Q2 fcel Number Of Customers Under Agreement
NumberOfCustomersUnderAgreement
1
CY2022Q2 us-gaap Contractual Obligation
ContractualObligation
2400000
CY2021Q4 us-gaap Contractual Obligation
ContractualObligation
2200000
CY2022Q2 us-gaap Contractual Obligation
ContractualObligation
2400000
CY2022Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5035000
CY2021Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2544000
CY2022Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
247000
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
72000
CY2022Q2 fcel Accrued Service And Performance
AccruedServiceAndPerformance
8934000
CY2021Q4 fcel Accrued Service And Performance
AccruedServiceAndPerformance
9112000
CY2022Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
9795000
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4371000
CY2022Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
24011000
CY2021Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
16099000
CY2022Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
200000
CY2021Q2 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
6000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
200000
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
12000
CY2022Q2 fcel Loss Reserve On Service Agreements
LossReserveOnServiceAgreements
6200000
CY2021Q4 fcel Loss Reserve On Service Agreements
LossReserveOnServiceAgreements
6500000
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
400000
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
400000
us-gaap Operating Lease Expense
OperatingLeaseExpense
800000
us-gaap Operating Lease Expense
OperatingLeaseExpense
800000
CY2022Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P20Y
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.083
CY2022Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.083
CY2021Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
300000
CY2022Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
300000
us-gaap Operating Lease Payments
OperatingLeasePayments
700000
us-gaap Operating Lease Payments
OperatingLeasePayments
600000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1426000
CY2022Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
51000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
914000
CY2022Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
37000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
841000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
765000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
780000
CY2022Q2 fcel Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
13803000
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
18529000
CY2022Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
88000
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
9874000
CY2022Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
8000
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
8655000
CY2022Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
80000
CY2022Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-30217000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-18917000
us-gaap Net Income Loss
NetIncomeLoss
-70841000
us-gaap Net Income Loss
NetIncomeLoss
-64877000
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-31017000
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-19717000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-72441000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-66477000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
372615824
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
322500592
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
369626543
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
317219129
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
372615824
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
322500592
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
369626543
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
317219129
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.08
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.06
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.20
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.20
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.21
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4323727
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3827464
CY2022Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
21800000
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
28000000.0
CY2022Q2 fcel Cash Restricted For Outstanding Letters Of Credit
CashRestrictedForOutstandingLettersOfCredit
4844000
CY2021Q4 fcel Cash Restricted For Outstanding Letters Of Credit
CashRestrictedForOutstandingLettersOfCredit
6478000
CY2022Q2 fcel Cash Restricted For Pnc Sale Leaseback Transactions
CashRestrictedForPNCSaleLeasebackTransactions
4191000
CY2021Q4 fcel Cash Restricted For Pnc Sale Leaseback Transactions
CashRestrictedForPNCSaleLeasebackTransactions
5514000
CY2022Q2 fcel Cash Restricted For Crestmark Sale Leaseback Transaction
CashRestrictedForCrestmarkSaleLeasebackTransaction
2891000
CY2021Q4 fcel Cash Restricted For Crestmark Sale Leaseback Transaction
CashRestrictedForCrestmarkSaleLeasebackTransaction
2887000
CY2022Q2 fcel Bridgeport Fuel Cell Park Project Debt Service And Performance Reserves
BridgeportFuelCellParkProjectDebtServiceAndPerformanceReserves
8836000
CY2021Q4 fcel Bridgeport Fuel Cell Park Project Debt Service And Performance Reserves
BridgeportFuelCellParkProjectDebtServiceAndPerformanceReserves
11937000
CY2022Q2 fcel Other Restricted Cash
OtherRestrictedCash
1016000
CY2021Q4 fcel Other Restricted Cash
OtherRestrictedCash
1183000
CY2022Q2 us-gaap Restricted Cash
RestrictedCash
21778000
CY2021Q4 us-gaap Restricted Cash
RestrictedCash
27999000
CY2022Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
5301000
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
11268000
CY2022Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
16477000
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
16731000
CY2022Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
80000
CY2021Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
102000
CY2022Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1346000
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
1556000
CY2022Q2 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
84949000
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
87708000
CY2022Q2 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
9919000
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
10085000
CY2022Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
75030000
CY2021Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
77623000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Expiration Date
ShareBasedCompensationArrangementByShareBasedPaymentAwardExpirationDate
2024-10-31
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Description
ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription
Should the Company’s share price achieve the 200% performance level, awardees will receive up to 169,026 additional performance units.
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1641000
CY2021Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1226000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3050000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2618000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
2543541
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
5.08
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
3276776
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
6.27
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
3315557
CY2022Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
6.21
fcel Number Of Project Under Power Purchase Agreement
NumberOfProjectUnderPowerPurchaseAgreement
3
fcel Number Of Project Under Power Purchase Agreement
NumberOfProjectUnderPowerPurchaseAgreement
3
fcel Number Of Project Under Power Purchase Agreement
NumberOfProjectUnderPowerPurchaseAgreement
3
us-gaap Asset Impairment Charges
AssetImpairmentCharges
10000000.0
CY2021 us-gaap Asset Impairment Charges
AssetImpairmentCharges
2800000
us-gaap Asset Impairment Charges
AssetImpairmentCharges
7200000
CY2022Q2 us-gaap Recorded Unconditional Purchase Obligation
RecordedUnconditionalPurchaseObligation
95800000
CY2020Q4 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
880000000

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