2023 Q4 Form 10-K Financial Statement

#000155837023019892 Filed on December 19, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023
Revenue $22.46M $123.4M
YoY Change -42.7% -5.43%
Cost Of Revenue $23.93M $133.9M
YoY Change -56.01% -16.33%
Gross Profit -$1.464M -$10.54M
YoY Change -90.36% -64.38%
Gross Profit Margin -6.52% -8.54%
Selling, General & Admin $16.89M $64.53M
YoY Change 10.67% -18.96%
% of Gross Profit
Research & Development $18.02M $61.02M
YoY Change 47.56% 76.72%
% of Gross Profit
Depreciation & Amortization $6.715M $25.38M
YoY Change 36.9% 19.28%
% of Gross Profit
Operating Expenses $34.91M $125.5M
YoY Change 27.06% 9.99%
Operating Profit -$36.38M -$136.1M
YoY Change -14.74% -5.32%
Interest Expense $2.410M $7.247M
YoY Change -247.22% 13.34%
% of Operating Profit
Other Income/Expense, Net $4.508M $4.724M
YoY Change 72.13% 27.5%
Pretax Income -$29.46M -$107.5M
YoY Change -29.33% -26.59%
Income Tax $0.00 $600.0K
% Of Pretax Income
Net Earnings -$31.16M -$107.6M
YoY Change -26.62% -24.63%
Net Earnings / Revenue -138.74% -87.17%
Basic Earnings Per Share -$0.26
Diluted Earnings Per Share -$0.07 -$0.26
COMMON SHARES
Basic Shares Outstanding 451.8M 419.7M
Diluted Shares Outstanding 419.7M

Balance Sheet

Concept 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $353.7M $353.7M
YoY Change -22.78% -22.78%
Cash & Equivalents $250.0M $250.0M
Short-Term Investments $103.8M $103.8M
Other Short-Term Assets $12.88M $18.04M
YoY Change 17.22% 17.05%
Inventory $84.46M $84.46M
Prepaid Expenses
Receivables $3.809M $20.11M
Other Receivables $0.00 $0.00
Total Short-Term Assets $476.3M $476.3M
YoY Change -17.92% -17.92%
LONG-TERM ASSETS
Property, Plant & Equipment $89.67M $356.1M
YoY Change 54.24% 19.41%
Goodwill $4.075M
YoY Change 0.0%
Intangibles $16.08M
YoY Change -7.47%
Long-Term Investments
YoY Change
Other Assets $51.18M $77.17M
YoY Change 274.59% 94.01%
Total Long-Term Assets $479.2M $479.2M
YoY Change 33.32% 33.32%
TOTAL ASSETS
Total Short-Term Assets $476.3M $476.3M
Total Long-Term Assets $479.2M $479.2M
Total Assets $955.5M $955.5M
YoY Change 1.68% 1.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $26.52M $26.52M
YoY Change -5.95% -5.95%
Accrued Expenses $26.31M $23.05M
YoY Change -4.02% 9.45%
Deferred Revenue $2.406M
YoY Change -85.28%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $10.07M $10.07M
YoY Change -23.72% -23.72%
Total Short-Term Liabilities $65.90M $65.90M
YoY Change -23.19% -23.19%
LONG-TERM LIABILITIES
Long-Term Debt $109.4M $109.4M
YoY Change 58.15% 58.15%
Other Long-Term Liabilities $119.6M $19.91M
YoY Change 44.32% -34.41%
Total Long-Term Liabilities $119.6M $129.3M
YoY Change 44.32% 29.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $65.90M $65.90M
Total Long-Term Liabilities $119.6M $129.3M
Total Liabilities $195.2M $213.2M
YoY Change 5.33% 9.06%
SHAREHOLDERS EQUITY
Retained Earnings -$1.516B
YoY Change 7.64%
Common Stock $2.200B
YoY Change 5.04%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $682.5M $742.4M
YoY Change
Total Liabilities & Shareholders Equity $955.5M $955.5M
YoY Change 1.68% 1.68%

Cashflow Statement

Concept 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$31.16M -$107.6M
YoY Change -26.62% -24.63%
Depreciation, Depletion And Amortization $6.715M $25.38M
YoY Change 36.9% 19.28%
Cash From Operating Activities -$15.83M -$140.3M
YoY Change -34.26% 25.04%
INVESTING ACTIVITIES
Capital Expenditures $328.0M $391.5M
YoY Change -4675.4% -939.11%
Acquisitions
YoY Change
Other Investing Activities $274.1M $199.1M
YoY Change
Cash From Investing Activities -$53.88M -$192.4M
YoY Change 651.6% 312.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $47.83M
YoY Change 401.15%
Cash From Financing Activities 32.91M 151.1M
YoY Change -1.06% -16.34%
NET CHANGE
Cash From Operating Activities -15.83M -140.3M
Cash From Investing Activities -53.88M -192.4M
Cash From Financing Activities 32.91M 151.1M
Net Change In Cash -36.80M -181.5M
YoY Change -1928.02% -971.1%
FREE CASH FLOW
Cash From Operating Activities -$15.83M -$140.3M
Capital Expenditures $328.0M $391.5M
Free Cash Flow -$343.8M -$531.7M
YoY Change 1932.97% 711.57%

Facts In Submission

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CY2022 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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CY2021 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
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CY2023 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-107488000
CY2022 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-143655000
CY2021 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-101135000
CY2020Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
194548000
CY2021 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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CY2021 fcel Exercise Of Warrants
ExerciseOfWarrants
22093000
CY2021 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
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CY2021 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4293000
CY2021 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
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CY2021 us-gaap Dividends Preferred Stock
DividendsPreferredStock
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CY2021 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-80000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-101055000
CY2021Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2022 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
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CY2022 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
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CY2022 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
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CY2022 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6792000
CY2022 us-gaap Dividends Preferred Stock
DividendsPreferredStock
3200000
CY2022 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-933000
CY2022 fcel Noncontrolling Interest Increase From Reclassification
NoncontrollingInterestIncreaseFromReclassification
12419000
CY2022 us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
496000
CY2022 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
308000
CY2022 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
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CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2023 us-gaap Stock Issued During Period Value New Issues
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CY2023 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
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CY2023 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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CY2023 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2023 us-gaap Dividends Preferred Stock
DividendsPreferredStock
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CY2023 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
80000
CY2023 fcel Contributions Received For Sale Of Noncontrolling Interest
ContributionsReceivedForSaleOfNoncontrollingInterest
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CY2023 fcel Noncontrolling Interest Increase From Reclassification
NoncontrollingInterestIncreaseFromReclassification
3030000
CY2023 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
744000
CY2023 us-gaap Income Loss From Continuing Operations Including Portion Attributable To Noncontrolling Interest
IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
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CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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CY2023 us-gaap Profit Loss
ProfitLoss
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CY2022 us-gaap Profit Loss
ProfitLoss
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CY2021 us-gaap Profit Loss
ProfitLoss
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CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
25375000
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
21274000
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
19872000
CY2021 us-gaap Fair Value Adjustment Of Warrants
FairValueAdjustmentOfWarrants
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CY2021 fcel Gain Loss On Series1 Preferred Stock Extinguishment
GainLossOnSeries1PreferredStockExtinguishment
-934000
CY2023 fcel Amortization Of Bond Premium
AmortizationOfBondPremium
3228000
CY2022 fcel Amortization Of Bond Premium
AmortizationOfBondPremium
4210000
CY2021 fcel Amortization Of Bond Premium
AmortizationOfBondPremium
4438000
CY2023 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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CY2021 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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CY2023 fcel Unrealized Gain Loss On Derivative Asset
UnrealizedGainLossOnDerivativeAsset
7441000
CY2022 fcel Unrealized Gain Loss On Derivative Asset
UnrealizedGainLossOnDerivativeAsset
779000
CY2021 fcel Unrealized Gain Loss On Derivative Asset
UnrealizedGainLossOnDerivativeAsset
478000
CY2023 us-gaap Operating Lease Expense
OperatingLeaseExpense
1486000
CY2022 us-gaap Operating Lease Expense
OperatingLeaseExpense
1521000
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
1545000
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
1226000
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
1438000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
1226000
CY2023 fcel Impairment Of Property Plant And Equipment And Project Assets
ImpairmentOfPropertyPlantAndEquipmentAndProjectAssets
2375000
CY2022 fcel Impairment Of Property Plant And Equipment And Project Assets
ImpairmentOfPropertyPlantAndEquipmentAndProjectAssets
1782000
CY2021 fcel Impairment Of Property Plant And Equipment And Project Assets
ImpairmentOfPropertyPlantAndEquipmentAndProjectAssets
5024000
CY2023 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
57000
CY2022 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
-583000
CY2023 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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CY2022 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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CY2021 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-996000
CY2023 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1076000
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-9199000
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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CY2023 fcel Increase Decrease In Contract With Customer Unbilled Receivables
IncreaseDecreaseInContractWithCustomerUnbilledReceivables
21921000
CY2022 fcel Increase Decrease In Contract With Customer Unbilled Receivables
IncreaseDecreaseInContractWithCustomerUnbilledReceivables
231000
CY2021 fcel Increase Decrease In Contract With Customer Unbilled Receivables
IncreaseDecreaseInContractWithCustomerUnbilledReceivables
3609000
CY2023 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-4686000
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
28058000
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
18755000
CY2023 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
13090000
CY2022 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
2092000
CY2021 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1529000
CY2023 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
3001000
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
6332000
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1988000
CY2023 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-4461000
CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
24616000
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
317000
CY2023 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-22298000
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-11278000
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-5186000
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-140250000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2023 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
39355000
CY2022 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
21078000
CY2021 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
6353000
CY2023 fcel Investment In Long Term Project Assets
InvestmentInLongTermProjectAssets
53007000
CY2022 fcel Investment In Long Term Project Assets
InvestmentInLongTermProjectAssets
25573000
CY2021 fcel Investment In Long Term Project Assets
InvestmentInLongTermProjectAssets
66877000
CY2023 us-gaap Proceeds From Sale Of Held To Maturity Securities
ProceedsFromSaleOfHeldToMaturitySecurities
199090000
CY2023 us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
299093000
CY2023 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-192365000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2023 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
47830000
CY2022 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
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CY2021 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
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CY2023 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
100500000
CY2021 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
10175000
CY2023 fcel Proceeds From Issuance Of Common Stock Issued For Stock Plans And Related Expenses
ProceedsFromIssuanceOfCommonStockIssuedForStockPlansAndRelatedExpenses
56000
CY2022 fcel Proceeds From Issuance Of Common Stock Issued For Stock Plans And Related Expenses
ProceedsFromIssuanceOfCommonStockIssuedForStockPlansAndRelatedExpenses
47000
CY2021 fcel Proceeds From Issuance Of Common Stock Issued For Stock Plans And Related Expenses
ProceedsFromIssuanceOfCommonStockIssuedForStockPlansAndRelatedExpenses
18000
CY2023 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
9052000
CY2022 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
11923000
CY2021 us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
3000000
CY2023 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
596000
CY2022 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
308000
CY2023 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
885000
CY2022 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1887000
CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
339000
CY2021 us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
4000000
CY2023 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
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CY2021 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
363000
CY2021 fcel Repayment Of Preferred Share Obligation
RepaymentOfPreferredShareObligation
21541000
CY2023 fcel Proceeds From Sale Of Common Stock And Warrant Exercises Net
ProceedsFromSaleOfCommonStockAndWarrantExercisesNet
97439000
CY2022 fcel Proceeds From Sale Of Common Stock And Warrant Exercises Net
ProceedsFromSaleOfCommonStockAndWarrantExercisesNet
183552000
CY2021 fcel Proceeds From Sale Of Common Stock And Warrant Exercises Net
ProceedsFromSaleOfCommonStockAndWarrantExercisesNet
526800000
CY2023 fcel Payment Of Preferred Dividends And Return Of Capital
PaymentOfPreferredDividendsAndReturnOfCapital
3200000
CY2022 fcel Payment Of Preferred Dividends And Return Of Capital
PaymentOfPreferredDividendsAndReturnOfCapital
3200000
CY2021 fcel Payment Of Preferred Dividends And Return Of Capital
PaymentOfPreferredDividendsAndReturnOfCapital
3200000
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
151067000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
180583000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
411908000
CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
80000
CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-933000
CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-80000
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-181468000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
20832000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
268160000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
481044000
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
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
299576000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
481044000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
460212000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
250000000.0
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
458100000
CY2023Q4 fcel Number Of Term Loan Facilities
NumberOfTermLoanFacilities
2
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2022Q4 us-gaap Sale Leaseback Transaction Net Book Value
SaleLeasebackTransactionNetBookValue
125200000
CY2023Q4 fcel Long Term Project Assets Construction In Progress
LongTermProjectAssetsConstructionInProgress
90600000
CY2022Q4 fcel Long Term Project Assets Construction In Progress
LongTermProjectAssetsConstructionInProgress
107700000
CY2023 us-gaap Asset Impairment Charges
AssetImpairmentCharges
2400000
CY2021 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0
CY2022 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0
CY2023 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0
CY2023 fcel Percentage Of Electricity Output Provided To Customers
PercentageOfElectricityOutputProvidedToCustomers
1
CY2023 us-gaap Revenue Recognition Leases
RevenueRecognitionLeases
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;"><i style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Sale-Leaseback Accounting</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Company, through certain wholly-owned subsidiaries, has entered into sale-leaseback transactions for commissioned project assets where we have entered into a PPA with a customer who is both the site host and end user of the power. Due to the Company not meeting criteria to account for the transfer of the project assets as a sale since the leases include a repurchase right, sale accounting is precluded. Accordingly, the Company uses the financing method to account for these transactions.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Under the financing method of accounting for a sale-leaseback, the Company does not derecognize the project assets and does not recognize as revenue any of the sale proceeds received from the lessor that contractually constitutes payment to acquire the assets subject to these arrangements. Instead, the sale proceeds received are accounted for as finance obligations and leaseback payments made by the Company are allocated between interest expense and a reduction to the finance obligation. Interest on the finance obligation is calculated using the Company’s incremental borrowing rate at the inception </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">of the arrangement on the outstanding finance obligation. While we receive financing for the related project asset, we have not recognized revenue on the sale-leaseback transactions. Instead, revenue is recognized with respect to the related PPAs in accordance with the Company’s accounting policies for recognizing generation revenue.</p>
CY2023 fcel Depreciation Expense On Project Assets
DepreciationExpenseOnProjectAssets
19000000.0
CY2022 fcel Depreciation Expense On Project Assets
DepreciationExpenseOnProjectAssets
14200000
CY2021 fcel Depreciation Expense On Project Assets
DepreciationExpenseOnProjectAssets
13700000
CY2023 us-gaap Extended Product Warranty Description
ExtendedProductWarrantyDescription
We warranty our products for a specific period of time against manufacturing or performance defects. Our U.S. warranty is generally limited to a term of 15 months after shipment or 12 months after acceptance of our products.
CY2023 fcel Extended Product Warranty Period After Shipment
ExtendedProductWarrantyPeriodAfterShipment
P15M
CY2023 fcel Extended Product Warranty Period After Acceptance Of Products
ExtendedProductWarrantyPeriodAfterAcceptanceOfProducts
P12M
CY2022Q4 fcel Reserve For Performance Guarantees
ReserveForPerformanceGuarantees
4100000
CY2023Q4 fcel Reserve For Performance Guarantees
ReserveForPerformanceGuarantees
1200000
CY2021 us-gaap Operating Lease Expense
OperatingLeaseExpense
1500000
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;"><i style="text-decoration-color:#000000;text-decoration-line:underline;text-decoration-style:solid;">Use of Estimates</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements and related disclosures in conformity with accounting principles generally accepted in the U.S. (“U.S. 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, lease right-of-use assets and liabilities, 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), valuation of derivatives 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>
CY2023 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-400000
CY2022 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-900000
CY2021 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-900000
CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
42100000
CY2023Q4 us-gaap Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
25800000
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
20700000
CY2022Q4 us-gaap Contract With Customer Asset Net Noncurrent
ContractWithCustomerAssetNetNoncurrent
9700000
CY2023 us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
12900000
CY2022 us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
5300000
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
3100000
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
25400000
CY2023Q4 us-gaap Contract With Customer Refund Liability
ContractWithCustomerRefundLiability
6300000
CY2023Q4 us-gaap Contract With Customer Refund Liability Noncurrent
ContractWithCustomerRefundLiabilityNoncurrent
6000000.0
CY2023 fcel Proceeds From Sale Of Investment Tax Credit
ProceedsFromSaleOfInvestmentTaxCredit
6300000
CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
36200000
CY2022Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
30624000
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
55585000
CY2022Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
67834000
CY2023Q4 fcel Inventory Current And Non Current
InventoryCurrentAndNonCurrent
91785000
CY2022Q4 fcel Inventory Current And Non Current
InventoryCurrentAndNonCurrent
98458000
CY2023Q4 us-gaap Inventory Net
InventoryNet
84456000
CY2022Q4 us-gaap Inventory Net
InventoryNet
90909000
CY2023Q4 us-gaap Inventory Noncurrent
InventoryNoncurrent
7329000
CY2022Q4 us-gaap Inventory Noncurrent
InventoryNoncurrent
7549000
CY2023Q4 fcel Project Asset Accumulated Depreciation
ProjectAssetAccumulatedDepreciation
46263000
CY2022Q4 fcel Project Asset Accumulated Depreciation
ProjectAssetAccumulatedDepreciation
29546000
CY2023Q4 fcel Long Term Project Assets
LongTermProjectAssets
258066000
CY2022Q4 fcel Long Term Project Assets
LongTermProjectAssets
232886000
CY2023 fcel Number Of Project Assets
NumberOfProjectAssets
9
CY2022 fcel Number Of Project Assets
NumberOfProjectAssets
8
CY2023Q4 us-gaap Sale Leaseback Transaction Net Book Value
SaleLeasebackTransactionNetBookValue
167500000
CY2023Q4 us-gaap Property Plant And Equipment Gross
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CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2578949
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3553868
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
49600000
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
23000000.0
CY2023Q4 fcel Cash Restricted For Outstanding Letters Of Credit
CashRestrictedForOutstandingLettersOfCredit
14152000
CY2022Q4 fcel Cash Restricted For Outstanding Letters Of Credit
CashRestrictedForOutstandingLettersOfCredit
4993000
CY2022Q4 fcel Cash Restricted For Pnc Sale Leaseback Transactions
CashRestrictedForPNCSaleLeasebackTransactions
5010000
CY2023Q4 fcel Cash Restricted For Crestmark Sale Leaseback Transaction
CashRestrictedForCrestmarkSaleLeasebackTransaction
2901000
CY2022Q4 fcel Cash Restricted For Crestmark Sale Leaseback Transaction
CashRestrictedForCrestmarkSaleLeasebackTransaction
2894000
CY2022Q4 fcel Bridgeport Fuel Cell Park Project Debt Service And Performance Reserves
BridgeportFuelCellParkProjectDebtServiceAndPerformanceReserves
8746000
CY2023Q4 fcel Other Restricted Cash
OtherRestrictedCash
3579000
CY2022Q4 fcel Other Restricted Cash
OtherRestrictedCash
1346000
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
49624000
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
22989000
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
5159000
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
4423000
CY2023Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
44465000
CY2022Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
18566000
CY2023 fcel Number Of Project Under Power Purchase Agreement
NumberOfProjectUnderPowerPurchaseAgreement
3
CY2023 fcel Derivative Gain Net Settlement
DerivativeGainNetSettlement
4100000
CY2023Q4 us-gaap Recorded Unconditional Purchase Obligation
RecordedUnconditionalPurchaseObligation
102200000
CY2023 us-gaap Interest Paid Net
InterestPaidNet
3088000
CY2022 us-gaap Interest Paid Net
InterestPaidNet
1556000
CY2021 us-gaap Interest Paid Net
InterestPaidNet
5765000
CY2023 us-gaap Income Taxes Paid
IncomeTaxesPaid
6000
CY2022 us-gaap Income Taxes Paid
IncomeTaxesPaid
2000
CY2021 us-gaap Income Taxes Paid
IncomeTaxesPaid
6000
CY2023 fcel Noncash Reclassification Between Inventory And Project Assets
NoncashReclassificationBetweenInventoryAndProjectAssets
1987000
CY2022 fcel Noncash Reclassification Between Inventory And Project Assets
NoncashReclassificationBetweenInventoryAndProjectAssets
1260000
CY2021 fcel Noncash Reclassification Between Inventory And Project Assets
NoncashReclassificationBetweenInventoryAndProjectAssets
7052000
CY2022 fcel Net Noncash Reclassifications Of Project Assets To Inventory
NetNoncashReclassificationsOfProjectAssetsToInventory
1552000
CY2022 fcel Net Non Cash Reclassifications Of Other Assets To Project Assets
NetNonCashReclassificationsOfOtherAssetsToProjectAssets
2375000
CY2023 fcel Director Stock Compensation
DirectorStockCompensation
225000
CY2022 fcel Director Stock Compensation
DirectorStockCompensation
305000
CY2021 fcel Director Stock Compensation
DirectorStockCompensation
275000
CY2023 fcel Accrued Non Controlling Interest Distribution
AccruedNonControllingInterestDistribution
148000
CY2023 fcel Noncash Addition Of Operating Lease Liabilities
NoncashAdditionOfOperatingLeaseLiabilities
1952000
CY2021 fcel Noncash Addition Of Operating Lease Liabilities
NoncashAdditionOfOperatingLeaseLiabilities
1459000
CY2023 fcel Noncash Addition Of Operating Lease Right Of Use Assets
NoncashAdditionOfOperatingLeaseRightOfUseAssets
1952000
CY2021 fcel Noncash Addition Of Operating Lease Right Of Use Assets
NoncashAdditionOfOperatingLeaseRightOfUseAssets
1459000
CY2021 us-gaap Warrant Down Round Feature Increase Decrease In Equity Amount1
WarrantDownRoundFeatureIncreaseDecreaseInEquityAmount1
21170000
CY2023 fcel Reclassification Between Project Assets And Other Assets
ReclassificationBetweenProjectAssetsAndOtherAssets
6330000
CY2023 fcel Accrued Purchase Of Fixed Assets
AccruedPurchaseOfFixedAssets
1646000
CY2022 fcel Accrued Purchase Of Fixed Assets
AccruedPurchaseOfFixedAssets
4396000
CY2021 fcel Accrued Purchase Of Fixed Assets
AccruedPurchaseOfFixedAssets
1537000
CY2023 fcel Accrued Purchase Of Project Assets
AccruedPurchaseOfProjectAssets
4515000
CY2022 fcel Accrued Purchase Of Project Assets
AccruedPurchaseOfProjectAssets
6444000
CY2021 fcel Accrued Purchase Of Project Assets
AccruedPurchaseOfProjectAssets
6707000
CY2023Q4 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q4 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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