ALPHAFORGE RESEARCH · COMPANY FILE · ENERGY, MATERIALS & POWER

$LBRT

Liberty Energy Inc. · NYSE · SIC 1389 · CIK 1694028 · revision 4 as of 2026-09-19

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Business

Liberty supplies hydraulic-fracturing services and related technology to North American producers, and is developing distributed power through Liberty Power Innovations. It reports one consolidated segment. Frac utilization, service pricing and operating efficiency generate the current cash base; power engines, deposits and construction require capital well before new data-center projects begin contributing.

Three drivers

Consolidated activity, pricing and contribution margins
Power-equipment payment milestones and contracted deployments
Gross cash capex, leases and financing ahead of common owners

Thesis

Our view

Power demand creates a substantial addressable opportunity, but supplier orders do not establish customer revenue or an internally funded build. The operating test is whether existing service cash flow can finance the equipment program after leases and other claims.

What changes it

More firm customer contracts, disclosed power margins and cash milestones could strengthen the case. Persistent cash deficits, redacted obligations resolving into larger near-term payments, or weak frac pricing would weaken it.

Scenario ranges

Explicit downside/base/upside business assumptions; not price targets, probabilities or historical market-memory bands.

Model · 8 fiscal quarters (last eight)

Fiscal quarter	2024Q3 2024-09-30	2024Q4 2024-12-31	2025Q1 2025-03-31	2025Q2 2025-06-30	2025Q3 2025-09-30	2025Q4 2025-12-31	2026Q1 2026-03-31	2026Q2 2026-06-30
Revenue ($M)	1,138.6¹	943.6†²	977.5³	1,042.5⁴	947.4¹	1,038.7†²	1,021.2³	1,188.6⁴
Gross profit ($M)	—	—	—	—	—	—	—	—
Operating income ($M)	107.3⁵	24.9†⁶	18.2⁷	37.1⁸	-2.4⁵	19.9†⁶	22.3⁷	12.7⁸
Net income ($M)	73.8⁹	51.9†¹⁰	20.1¹¹	71.0¹²	43.1⁹	13.7†¹⁰	22.6¹¹	43.1¹²
EPS, diluted ($)	0.44¹³	—	0.12¹⁴	0.43¹⁵	0.26¹³	—	0.14¹⁴	0.26¹⁵
Diluted shares (M)	168.6¹⁶	—	165.8¹⁷	164.2¹⁸	165.1¹⁶	—	166.3¹⁷	167.7¹⁸
Cash ($M)	23.0¹⁹	20.0²⁰	24.1²¹	19.6²²	13.5²³	27.6²⁴	699.1²⁵	555.4²⁴
Long-term debt ($M)	123.0²⁶	190.5²⁷	210.0²⁸	160.0²⁹	253.0³⁰	241.5³¹	1,271.3³²	1,279.9³¹
Cash from operations ($M)	244.5†³³	177.3†³⁴	192.1³⁵	170.6†³⁶	51.5†³³	195.4†³⁴	8.4³⁵	133.0†³⁶
Capex ($M)	—	—	—	—	—	—	—	—
Free cash flow ($M)	—	—	—	—	—	—	—	—

† derived (Q4 = fiscal year minus the first three quarters; year-to-date cash flows differenced; FCF = CFO − capex). Superscripts are the provenance notes below.

Estimates · base scenario

Period	Revenue ($M)	EPS ($)	As of	Basis
2026Q3	1,248.5	—	2026-09-19	Desk base scenario. Revenue basis: Consolidated revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance.
2026Q4	1,176.5	—	2026-09-19	Desk base scenario. Revenue basis: Consolidated revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance.
2027Q1	1,236.5	—	2026-09-19	Desk base scenario. Revenue basis: Consolidated revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance.
2027Q2	1,284.5	—	2026-09-19	Desk base scenario. Revenue basis: Consolidated revenue ($M). Calculated from the operating-model inputs below; not consensus or company guidance.

Frac cash generation versus the power-equipment funding cycle

Operating scenarios · reviewed 2026-09-19 · USD millions unless labeled otherwise · our assumptions, not consensus

Use Q2 consolidated revenue as the activity/pricing anchor; Liberty reports one segment, so the forecast does not invent historical frac/power splits. Add only separately identified desk assumptions for incremental new power sales in late 2027. Derive service contribution, overhead, depreciation and equity compensation independently. Bridge EBITDA to CFO using cash interest, taxes and working capital, then deduct cash PP&E, finance-lease principal, TRA, dividends, award taxes, investments and scheduled small-loan principal. Forecast power deposits are included inside cash PP&E, not added twice.

Reported anchors and guidance

Measure	Period	Value	Basis
q2 revenue	June/July 2026	1,188.60	reported. USD millions. Aggregate engine contract prices/remaining commitments are approximate. CAT contract signed July 22. Capped-call and financing cash are H1 flows. Source · 2026-07-23
q2 ebitda	June/July 2026	151.15	reported. USD millions. Aggregate engine contract prices/remaining commitments are approximate. CAT contract signed July 22. Capped-call and financing cash are H1 flows. Source · 2026-07-23
H1 cfo	H1 2026	141.44	reported. Reported consolidated amount, converted from thousands to millions. Source · 2026-07-23
H1 capex	H1 2026	380.86	reported. Reported consolidated amount, converted from thousands to millions. Source · 2026-07-23
H1 CFO less gross PP&E	H1 2026	-239.42	derived. Gross PP&E cash, before asset disposal proceeds.
H1 lease principal	H1 2026	48.34	reported. Reported consolidated amount, converted from thousands to millions. Source · 2026-07-23
H1 cash after modeled claims	H1 2026	-357.76	derived. Before external financing, capped calls and debt issuance costs; not the cash balance change.
cash	June/July 2026	555.36	reported. USD millions. Aggregate engine contract prices/remaining commitments are approximate. CAT contract signed July 22. Capped-call and financing cash are H1 flows. Source · 2026-07-23
convert principal	June/July 2026	1,295.00	reported. USD millions. Aggregate engine contract prices/remaining commitments are approximate. CAT contract signed July 22. Capped-call and financing cash are H1 flows. Source · 2026-07-23
term principal	June/July 2026	32.26	reported. USD millions. Aggregate engine contract prices/remaining commitments are approximate. CAT contract signed July 22. Capped-call and financing cash are H1 flows. Source · 2026-07-23
lease liability	June/July 2026	264.21	reported. USD millions. Aggregate engine contract prices/remaining commitments are approximate. CAT contract signed July 22. Capped-call and financing cash are H1 flows. Source · 2026-07-23
capital deposits	June/July 2026	247.97	reported. USD millions. Aggregate engine contract prices/remaining commitments are approximate. CAT contract signed July 22. Capped-call and financing cash are H1 flows. Source · 2026-07-23
remaining engine commitments	June/July 2026	1,100.00	reported. USD millions. Aggregate engine contract prices/remaining commitments are approximate. CAT contract signed July 22. Capped-call and financing cash are H1 flows. Source · 2026-07-23
cat contract	June/July 2026	801.00	reported. USD millions. Aggregate engine contract prices/remaining commitments are approximate. CAT contract signed July 22. Capped-call and financing cash are H1 flows. Source · 2026-07-23
Jenbacher contract original price	February 2026	493.16	reported. Contract dated February 13, filed September 18; price can adjust for FX/duties. Included within the broader equipment program. May amendment moves notice-to-proceed payment to July 10; percentages redacted. Source · 2026-09-18
H1 investment gain	H1 2026	60.23	reported. Reported consolidated amount, converted from thousands to millions. Source · 2026-07-23
capped calls	June/July 2026	186.51	reported. USD millions. Aggregate engine contract prices/remaining commitments are approximate. CAT contract signed July 22. Capped-call and financing cash are H1 flows. Source · 2026-07-23
financing cash	June/July 2026	752.05	reported. USD millions. Aggregate engine contract prices/remaining commitments are approximate. CAT contract signed July 22. Capped-call and financing cash are H1 flows. Source · 2026-07-23

Downside scenario

Period	Operating cash flow proxy ($M)	CFO less gross cash PP&E ($M)	TRA payments ($M)	Gross cash PP&E and deposits ($M)	Consolidated revenue ($M)	Common dividends and equivalents ($M)	Adjusted EBITDA proxy ($M)	Finance-lease principal ($M)	GAAP operating income proxy ($M)	Cash after investment and capital claims ($M)
2026Q3	46.63	-238.37	0.00	285.00	1,106.82	15.10	124.63	35.00	-4.37	-298.96
2026Q4	73.18	-231.82	0.00	305.00	1,004.13	15.10	106.18	35.00	-26.22	-292.40
2027Q1	35.45	-319.55	4.00	355.00	1,026.95	15.10	108.45	19.00	-26.35	-381.63
2027Q2	66.48	-308.52	0.00	375.00	1,072.59	15.10	114.48	19.00	-23.72	-355.60
FY2026	261.25	-709.61	7.89	970.86	4,320.73	60.52	507.80	118.34	4.40	-949.12
FY2027	237.91	-1,202.09	4.00	1,440.00	4,290.36	60.40	454.91	76.00	-104.69	-1,405.40

Base scenario

Period	Operating cash flow proxy ($M)	CFO less gross cash PP&E ($M)	TRA payments ($M)	Gross cash PP&E and deposits ($M)	Consolidated revenue ($M)	Common dividends and equivalents ($M)	Adjusted EBITDA proxy ($M)	Finance-lease principal ($M)	GAAP operating income proxy ($M)	Cash after investment and capital claims ($M)
2026Q3	117.73	-142.27	0.00	260.00	1,248.50	15.10	167.73	35.00	38.73	-202.85
2026Q4	136.27	-133.73	0.00	270.00	1,176.47	15.10	153.27	35.00	20.87	-194.32
2027Q1	98.57	-216.43	4.00	315.00	1,236.50	15.10	162.57	19.00	27.77	-278.51
2027Q2	128.71	-216.29	0.00	345.00	1,284.52	15.10	169.71	19.00	31.51	-263.36
FY2026	395.44	-515.42	7.89	910.86	4,634.75	60.52	597.99	118.34	94.59	-754.93
FY2027	486.97	-823.03	4.00	1,310.00	5,122.05	60.40	674.97	76.00	115.37	-1,026.34

Upside scenario

Period	Operating cash flow proxy ($M)	CFO less gross cash PP&E ($M)	TRA payments ($M)	Gross cash PP&E and deposits ($M)	Consolidated revenue ($M)	Common dividends and equivalents ($M)	Adjusted EBITDA proxy ($M)	Finance-lease principal ($M)	GAAP operating income proxy ($M)	Cash after investment and capital claims ($M)
2026Q3	137.83	-147.17	0.00	285.00	1,322.19	15.10	197.83	35.00	68.83	-207.75
2026Q4	164.78	-130.22	0.00	295.00	1,273.22	15.10	186.78	35.00	54.38	-190.80
2027Q1	127.76	-227.24	4.00	355.00	1,383.41	15.10	206.76	19.00	71.96	-289.31
2027Q2	166.20	-208.80	0.00	375.00	1,444.62	15.10	217.20	19.00	79.00	-255.88
FY2026	444.05	-516.81	7.89	960.86	4,805.20	60.52	661.60	118.34	158.20	-756.32
FY2027	652.79	-797.21	4.00	1,450.00	5,845.72	60.40	885.79	76.00	326.19	-1,000.52

All inputs and formulas — reproduce this model

Input / calculation	Period / case	Value / unit	Evidence or assumption
H1 revenue h1_revenue	H1 2026 / shared	2,209.78 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-07-23
H1 operating income h1_operating_income	H1 2026 / shared	34.99 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-07-23
H1 adj ebitda h1_adj_ebitda	H1 2026 / shared	277.00 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-07-23
H1 cfo h1_cfo	H1 2026 / shared	141.44 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-07-23
H1 capex h1_capex	H1 2026 / shared	380.86 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-07-23
H1 lease principal h1_lease_principal	H1 2026 / shared	48.34 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-07-23
H1 tra h1_tra	H1 2026 / shared	7.89 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-07-23
H1 dividends h1_dividends	H1 2026 / shared	30.32 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-07-23
H1 sbc h1_sbc	H1 2026 / shared	18.00 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-07-23
H1 da h1_da	H1 2026 / shared	228.27 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-07-23
H1 awards h1_awards	H1 2026 / shared	18.65 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-07-23
H1 debt principal h1_debt_principal	H1 2026 / shared	3.46 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-07-23
H1 investments h1_investments	H1 2026 / shared	9.70 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-07-23
H1 asset sales h1_asset_sales	H1 2026 / shared	25.95 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-07-23
H1 investment gain h1_investment_gain	H1 2026 / shared	60.23 USD_millions	reported: Reported consolidated amount, converted from thousands to millions. Primary source · 2026-07-23
H1 CFO less gross PP&E h1_fcf	H1 2026 / shared	-239.42 USD_millions	derived: Gross PP&E cash, before asset disposal proceeds. Formula: subtract(h1_cfo, h1_capex).
H1 additional cash uses h1_claims	H1 2026 / shared	118.35 USD_millions	derived: Financing and equity-investment uses after PP&E; excludes capped calls and debt-issuance fees. Formula: sum(h1_lease_principal, h1_tra, h1_dividends, h1_awards, h1_debt_principal, h1_investments).
H1 cash after modeled claims h1_cash_after_claims	H1 2026 / shared	-357.76 USD_millions	derived: Before external financing, capped calls and debt issuance costs; not the cash balance change. Formula: subtract(h1_fcf, h1_claims).
q2 revenue q2_revenue	June/July 2026 / shared	1,188.60 USD_millions	reported: USD millions. Aggregate engine contract prices/remaining commitments are approximate. CAT contract signed July 22. Capped-call and financing cash are H1 flows. Primary source · 2026-07-23
q2 ebitda q2_ebitda	June/July 2026 / shared	151.15 USD_millions	reported: USD millions. Aggregate engine contract prices/remaining commitments are approximate. CAT contract signed July 22. Capped-call and financing cash are H1 flows. Primary source · 2026-07-23
cash cash	June/July 2026 / shared	555.36 USD_millions	reported: USD millions. Aggregate engine contract prices/remaining commitments are approximate. CAT contract signed July 22. Capped-call and financing cash are H1 flows. Primary source · 2026-07-23
convert principal convert_principal	June/July 2026 / shared	1,295.00 USD_millions	reported: USD millions. Aggregate engine contract prices/remaining commitments are approximate. CAT contract signed July 22. Capped-call and financing cash are H1 flows. Primary source · 2026-07-23
term principal term_principal	June/July 2026 / shared	32.26 USD_millions	reported: USD millions. Aggregate engine contract prices/remaining commitments are approximate. CAT contract signed July 22. Capped-call and financing cash are H1 flows. Primary source · 2026-07-23
lease liability lease_liability	June/July 2026 / shared	264.21 USD_millions	reported: USD millions. Aggregate engine contract prices/remaining commitments are approximate. CAT contract signed July 22. Capped-call and financing cash are H1 flows. Primary source · 2026-07-23
tra liability tra_liability	June/July 2026 / shared	66.87 USD_millions	reported: USD millions. Aggregate engine contract prices/remaining commitments are approximate. CAT contract signed July 22. Capped-call and financing cash are H1 flows. Primary source · 2026-07-23
capital deposits capital_deposits	June/July 2026 / shared	247.97 USD_millions	reported: USD millions. Aggregate engine contract prices/remaining commitments are approximate. CAT contract signed July 22. Capped-call and financing cash are H1 flows. Primary source · 2026-07-23
engine contracts engine_contracts	June/July 2026 / shared	1,300.00 USD_millions	reported: USD millions. Aggregate engine contract prices/remaining commitments are approximate. CAT contract signed July 22. Capped-call and financing cash are H1 flows. Primary source · 2026-07-23
remaining engine commitments remaining_engine_commitments	June/July 2026 / shared	1,100.00 USD_millions	reported: USD millions. Aggregate engine contract prices/remaining commitments are approximate. CAT contract signed July 22. Capped-call and financing cash are H1 flows. Primary source · 2026-07-23
cat contract cat_contract	June/July 2026 / shared	801.00 USD_millions	reported: USD millions. Aggregate engine contract prices/remaining commitments are approximate. CAT contract signed July 22. Capped-call and financing cash are H1 flows. Primary source · 2026-07-23
capped calls capped_calls	June/July 2026 / shared	186.51 USD_millions	reported: USD millions. Aggregate engine contract prices/remaining commitments are approximate. CAT contract signed July 22. Capped-call and financing cash are H1 flows. Primary source · 2026-07-23
financing cash financing_cash	June/July 2026 / shared	752.05 USD_millions	reported: USD millions. Aggregate engine contract prices/remaining commitments are approximate. CAT contract signed July 22. Capped-call and financing cash are H1 flows. Primary source · 2026-07-23
Jenbacher contract original price jenbacher_contract	February 2026 / shared	493.16 USD_millions	reported: Contract dated February 13, filed September 18; price can adjust for FX/duties. Included within the broader equipment program. May amendment moves notice-to-proceed payment to July 10; percentages redacted. Primary source · 2026-09-18
Activity versus Q2 downside_2026q3_activity	2026Q3 / downside	97.0% ratio	assumption: Desk assumption; not company guidance.
Pricing/mix versus Q2 downside_2026q3_price	2026Q3 / downside	96.0% ratio	assumption: Desk assumption; not company guidance.
Existing business revenue downside_2026q3_existing_revenue	2026Q3 / downside	1,106.82 USD_millions	derived: Consolidated anchor already includes existing power-related activity. Formula: multiply(q2_revenue, downside_2026q3_activity, downside_2026q3_price).
Incremental new-project power revenue downside_2026q3_new_power	2026Q3 / downside	0.00 USD_millions	assumption: Desk revenue sensitivity only; no customer contract revenue per MW was disclosed for PowerBridge.
Consolidated revenue downside_2026q3_revenue	2026Q3 / downside	1,106.82 USD_millions	derived: No revenue from buying engines or announcing capacity. Formula: sum(downside_2026q3_existing_revenue, downside_2026q3_new_power).
Service contribution margin downside_2026q3_service_margin	2026Q3 / downside	16.5% ratio	assumption: Desk assumption; not company guidance.
Existing-business contribution downside_2026q3_existing_contribution	2026Q3 / downside	182.63 USD_millions	derived: Cost of services excludes D&A. Formula: multiply(downside_2026q3_existing_revenue, downside_2026q3_service_margin).
Incremental power contribution margin downside_2026q3_power_margin	2026Q3 / downside	20.0% ratio	assumption: Desk assumption; not company guidance.
New power contribution downside_2026q3_power_contribution	2026Q3 / downside	0.00 USD_millions	derived: Incremental modeled operations only. Formula: multiply(downside_2026q3_new_power, downside_2026q3_power_margin).
Service contribution before overhead and D&A downside_2026q3_contribution	2026Q3 / downside	182.63 USD_millions	derived: Company does not report these as separate historical segments. Formula: sum(downside_2026q3_existing_contribution, downside_2026q3_power_contribution).
G&A excluding stock compensation downside_2026q3_cash_overhead	2026Q3 / downside	58.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy downside_2026q3_adj_ebitda	2026Q3 / downside	124.63 USD_millions	derived: Excludes equity compensation, D&A and modeled nonrecurring transaction costs; ordinary operating costs remain. Formula: subtract(downside_2026q3_contribution, downside_2026q3_cash_overhead).
Stock compensation expense downside_2026q3_sbc	2026Q3 / downside	10.00 USD_millions	assumption: Desk assumption; not company guidance.
Depreciation depletion and amortization downside_2026q3_da	2026Q3 / downside	116.00 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and other operating expense downside_2026q3_transaction	2026Q3 / downside	3.00 USD_millions	assumption: Desk assumption; not company guidance.
D&A, equity expense and transaction costs downside_2026q3_gaap_deductions	2026Q3 / downside	129.00 USD_millions	derived: No investment fair-value gains in operating earnings. Formula: sum(downside_2026q3_sbc, downside_2026q3_da, downside_2026q3_transaction).
GAAP operating income proxy downside_2026q3_operating_income	2026Q3 / downside	-4.37 USD_millions	derived: Assumes no net disposal gain/loss or impairment; separate downside risks. Formula: subtract(downside_2026q3_adj_ebitda, downside_2026q3_gaap_deductions).
Cash interest net of investment income downside_2026q3_cash_interest	2026Q3 / downside	5.00 USD_millions	assumption: Small-loan and finance-lease interest, less cash yield; convertible notes have no regular coupon.
Cash income taxes downside_2026q3_cash_tax	2026Q3 / downside	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Net operating working-capital use downside_2026q3_wc_use	2026Q3 / downside	65.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash interest taxes working capital and transaction costs downside_2026q3_cfo_uses	2026Q3 / downside	78.00 USD_millions	derived: Lease principal and TRA remain below CFO; transaction costs remain cash uses. Formula: sum(downside_2026q3_cash_interest, downside_2026q3_cash_tax, downside_2026q3_wc_use, downside_2026q3_transaction).
Operating cash flow proxy downside_2026q3_cfo	2026Q3 / downside	46.63 USD_millions	derived: Does not repeat noncash investment marks as cash generation. Formula: subtract(downside_2026q3_adj_ebitda, downside_2026q3_cfo_uses).
Existing fleet and other PP&E cash downside_2026q3_maintenance_capex	2026Q3 / downside	115.00 USD_millions	assumption: Desk assumption; not company guidance.
Power engines deposits and buildout cash downside_2026q3_power_capex	2026Q3 / downside	170.00 USD_millions	assumption: Scenario allocation within aggregate capex; redacted equipment milestones prevent an exact contractual schedule.
Gross cash PP&E and deposits downside_2026q3_capex	2026Q3 / downside	285.00 USD_millions	derived: Includes deposits once; not an additional deduction after capex. Formula: sum(downside_2026q3_maintenance_capex, downside_2026q3_power_capex).
CFO less gross PP&E downside_2026q3_fcf	2026Q3 / downside	-238.37 USD_millions	derived: No disposal proceeds netted against cash PP&E. Formula: subtract(downside_2026q3_cfo, downside_2026q3_capex).
Finance-lease principal downside_2026q3_lease_principal	2026Q3 / downside	35.00 USD_millions	assumption: Desk allocation informed by remaining 2026 gross lease payments $79.705M and 2027 $87.432M, including interest. Interest is separately in CFO.
TRA cash payment downside_2026q3_tra	2026Q3 / downside	0.00 USD_millions	assumption: Desk cash allowance, not a conclusion that the $66.870M liability is extinguished.
Common dividends and equivalents downside_2026q3_dividends	2026Q3 / downside	15.10 USD_millions	assumption: Approximately $0.09 per share quarterly, including allowance for award equivalents; future board declarations required.
Small-loan principal downside_2026q3_debt_principal	2026Q3 / downside	2.48 USD_millions	assumption: Remainder 2026 $4.961M and 2027 $11.906M disclosed debt maturities, evenly allocated.
Employee award withholding downside_2026q3_awards	2026Q3 / downside	3.00 USD_millions	assumption: Desk assumption; not company guidance.
Equity investment purchases downside_2026q3_investments	2026Q3 / downside	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Additional cash uses downside_2026q3_claims	2026Q3 / downside	60.58 USD_millions	derived: Financing/equity-investment outflows; no new borrowing included. Formula: sum(downside_2026q3_lease_principal, downside_2026q3_tra, downside_2026q3_dividends, downside_2026q3_debt_principal, downside_2026q3_awards, downside_2026q3_investments).
Cash after investment and capital claims downside_2026q3_cash_after_claims	2026Q3 / downside	-298.96 USD_millions	derived: Before new financing, acquisitions, optional buybacks and asset-sale proceeds. Formula: subtract(downside_2026q3_fcf, downside_2026q3_claims).
Activity versus Q2 downside_2026q4_activity	2026Q4 / downside	88.0% ratio	assumption: Desk assumption; not company guidance.
Pricing/mix versus Q2 downside_2026q4_price	2026Q4 / downside	96.0% ratio	assumption: Desk assumption; not company guidance.
Existing business revenue downside_2026q4_existing_revenue	2026Q4 / downside	1,004.13 USD_millions	derived: Consolidated anchor already includes existing power-related activity. Formula: multiply(q2_revenue, downside_2026q4_activity, downside_2026q4_price).
Incremental new-project power revenue downside_2026q4_new_power	2026Q4 / downside	0.00 USD_millions	assumption: Desk revenue sensitivity only; no customer contract revenue per MW was disclosed for PowerBridge.
Consolidated revenue downside_2026q4_revenue	2026Q4 / downside	1,004.13 USD_millions	derived: No revenue from buying engines or announcing capacity. Formula: sum(downside_2026q4_existing_revenue, downside_2026q4_new_power).
Service contribution margin downside_2026q4_service_margin	2026Q4 / downside	16.5% ratio	assumption: Desk assumption; not company guidance.
Existing-business contribution downside_2026q4_existing_contribution	2026Q4 / downside	165.68 USD_millions	derived: Cost of services excludes D&A. Formula: multiply(downside_2026q4_existing_revenue, downside_2026q4_service_margin).
Incremental power contribution margin downside_2026q4_power_margin	2026Q4 / downside	20.0% ratio	assumption: Desk assumption; not company guidance.
New power contribution downside_2026q4_power_contribution	2026Q4 / downside	0.00 USD_millions	derived: Incremental modeled operations only. Formula: multiply(downside_2026q4_new_power, downside_2026q4_power_margin).
Service contribution before overhead and D&A downside_2026q4_contribution	2026Q4 / downside	165.68 USD_millions	derived: Company does not report these as separate historical segments. Formula: sum(downside_2026q4_existing_contribution, downside_2026q4_power_contribution).
G&A excluding stock compensation downside_2026q4_cash_overhead	2026Q4 / downside	59.50 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy downside_2026q4_adj_ebitda	2026Q4 / downside	106.18 USD_millions	derived: Excludes equity compensation, D&A and modeled nonrecurring transaction costs; ordinary operating costs remain. Formula: subtract(downside_2026q4_contribution, downside_2026q4_cash_overhead).
Stock compensation expense downside_2026q4_sbc	2026Q4 / downside	10.40 USD_millions	assumption: Desk assumption; not company guidance.
Depreciation depletion and amortization downside_2026q4_da	2026Q4 / downside	119.00 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and other operating expense downside_2026q4_transaction	2026Q4 / downside	3.00 USD_millions	assumption: Desk assumption; not company guidance.
D&A, equity expense and transaction costs downside_2026q4_gaap_deductions	2026Q4 / downside	132.40 USD_millions	derived: No investment fair-value gains in operating earnings. Formula: sum(downside_2026q4_sbc, downside_2026q4_da, downside_2026q4_transaction).
GAAP operating income proxy downside_2026q4_operating_income	2026Q4 / downside	-26.22 USD_millions	derived: Assumes no net disposal gain/loss or impairment; separate downside risks. Formula: subtract(downside_2026q4_adj_ebitda, downside_2026q4_gaap_deductions).
Cash interest net of investment income downside_2026q4_cash_interest	2026Q4 / downside	5.00 USD_millions	assumption: Small-loan and finance-lease interest, less cash yield; convertible notes have no regular coupon.
Cash income taxes downside_2026q4_cash_tax	2026Q4 / downside	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Net operating working-capital use downside_2026q4_wc_use	2026Q4 / downside	20.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash interest taxes working capital and transaction costs downside_2026q4_cfo_uses	2026Q4 / downside	33.00 USD_millions	derived: Lease principal and TRA remain below CFO; transaction costs remain cash uses. Formula: sum(downside_2026q4_cash_interest, downside_2026q4_cash_tax, downside_2026q4_wc_use, downside_2026q4_transaction).
Operating cash flow proxy downside_2026q4_cfo	2026Q4 / downside	73.18 USD_millions	derived: Does not repeat noncash investment marks as cash generation. Formula: subtract(downside_2026q4_adj_ebitda, downside_2026q4_cfo_uses).
Existing fleet and other PP&E cash downside_2026q4_maintenance_capex	2026Q4 / downside	115.00 USD_millions	assumption: Desk assumption; not company guidance.
Power engines deposits and buildout cash downside_2026q4_power_capex	2026Q4 / downside	190.00 USD_millions	assumption: Scenario allocation within aggregate capex; redacted equipment milestones prevent an exact contractual schedule.
Gross cash PP&E and deposits downside_2026q4_capex	2026Q4 / downside	305.00 USD_millions	derived: Includes deposits once; not an additional deduction after capex. Formula: sum(downside_2026q4_maintenance_capex, downside_2026q4_power_capex).
CFO less gross PP&E downside_2026q4_fcf	2026Q4 / downside	-231.82 USD_millions	derived: No disposal proceeds netted against cash PP&E. Formula: subtract(downside_2026q4_cfo, downside_2026q4_capex).
Finance-lease principal downside_2026q4_lease_principal	2026Q4 / downside	35.00 USD_millions	assumption: Desk allocation informed by remaining 2026 gross lease payments $79.705M and 2027 $87.432M, including interest. Interest is separately in CFO.
TRA cash payment downside_2026q4_tra	2026Q4 / downside	0.00 USD_millions	assumption: Desk cash allowance, not a conclusion that the $66.870M liability is extinguished.
Common dividends and equivalents downside_2026q4_dividends	2026Q4 / downside	15.10 USD_millions	assumption: Approximately $0.09 per share quarterly, including allowance for award equivalents; future board declarations required.
Small-loan principal downside_2026q4_debt_principal	2026Q4 / downside	2.48 USD_millions	assumption: Remainder 2026 $4.961M and 2027 $11.906M disclosed debt maturities, evenly allocated.
Employee award withholding downside_2026q4_awards	2026Q4 / downside	3.00 USD_millions	assumption: Desk assumption; not company guidance.
Equity investment purchases downside_2026q4_investments	2026Q4 / downside	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Additional cash uses downside_2026q4_claims	2026Q4 / downside	60.58 USD_millions	derived: Financing/equity-investment outflows; no new borrowing included. Formula: sum(downside_2026q4_lease_principal, downside_2026q4_tra, downside_2026q4_dividends, downside_2026q4_debt_principal, downside_2026q4_awards, downside_2026q4_investments).
Cash after investment and capital claims downside_2026q4_cash_after_claims	2026Q4 / downside	-292.40 USD_millions	derived: Before new financing, acquisitions, optional buybacks and asset-sale proceeds. Formula: subtract(downside_2026q4_fcf, downside_2026q4_claims).
Activity versus Q2 downside_2027q1_activity	2027Q1 / downside	90.0% ratio	assumption: Desk assumption; not company guidance.
Pricing/mix versus Q2 downside_2027q1_price	2027Q1 / downside	96.0% ratio	assumption: Desk assumption; not company guidance.
Existing business revenue downside_2027q1_existing_revenue	2027Q1 / downside	1,026.95 USD_millions	derived: Consolidated anchor already includes existing power-related activity. Formula: multiply(q2_revenue, downside_2027q1_activity, downside_2027q1_price).
Incremental new-project power revenue downside_2027q1_new_power	2027Q1 / downside	0.00 USD_millions	assumption: Desk revenue sensitivity only; no customer contract revenue per MW was disclosed for PowerBridge.
Consolidated revenue downside_2027q1_revenue	2027Q1 / downside	1,026.95 USD_millions	derived: No revenue from buying engines or announcing capacity. Formula: sum(downside_2027q1_existing_revenue, downside_2027q1_new_power).
Service contribution margin downside_2027q1_service_margin	2027Q1 / downside	16.5% ratio	assumption: Desk assumption; not company guidance.
Existing-business contribution downside_2027q1_existing_contribution	2027Q1 / downside	169.45 USD_millions	derived: Cost of services excludes D&A. Formula: multiply(downside_2027q1_existing_revenue, downside_2027q1_service_margin).
Incremental power contribution margin downside_2027q1_power_margin	2027Q1 / downside	20.0% ratio	assumption: Desk assumption; not company guidance.
New power contribution downside_2027q1_power_contribution	2027Q1 / downside	0.00 USD_millions	derived: Incremental modeled operations only. Formula: multiply(downside_2027q1_new_power, downside_2027q1_power_margin).
Service contribution before overhead and D&A downside_2027q1_contribution	2027Q1 / downside	169.45 USD_millions	derived: Company does not report these as separate historical segments. Formula: sum(downside_2027q1_existing_contribution, downside_2027q1_power_contribution).
G&A excluding stock compensation downside_2027q1_cash_overhead	2027Q1 / downside	61.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy downside_2027q1_adj_ebitda	2027Q1 / downside	108.45 USD_millions	derived: Excludes equity compensation, D&A and modeled nonrecurring transaction costs; ordinary operating costs remain. Formula: subtract(downside_2027q1_contribution, downside_2027q1_cash_overhead).
Stock compensation expense downside_2027q1_sbc	2027Q1 / downside	10.80 USD_millions	assumption: Desk assumption; not company guidance.
Depreciation depletion and amortization downside_2027q1_da	2027Q1 / downside	122.00 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and other operating expense downside_2027q1_transaction	2027Q1 / downside	2.00 USD_millions	assumption: Desk assumption; not company guidance.
D&A, equity expense and transaction costs downside_2027q1_gaap_deductions	2027Q1 / downside	134.80 USD_millions	derived: No investment fair-value gains in operating earnings. Formula: sum(downside_2027q1_sbc, downside_2027q1_da, downside_2027q1_transaction).
GAAP operating income proxy downside_2027q1_operating_income	2027Q1 / downside	-26.35 USD_millions	derived: Assumes no net disposal gain/loss or impairment; separate downside risks. Formula: subtract(downside_2027q1_adj_ebitda, downside_2027q1_gaap_deductions).
Cash interest net of investment income downside_2027q1_cash_interest	2027Q1 / downside	6.00 USD_millions	assumption: Small-loan and finance-lease interest, less cash yield; convertible notes have no regular coupon.
Cash income taxes downside_2027q1_cash_tax	2027Q1 / downside	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Net operating working-capital use downside_2027q1_wc_use	2027Q1 / downside	60.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash interest taxes working capital and transaction costs downside_2027q1_cfo_uses	2027Q1 / downside	73.00 USD_millions	derived: Lease principal and TRA remain below CFO; transaction costs remain cash uses. Formula: sum(downside_2027q1_cash_interest, downside_2027q1_cash_tax, downside_2027q1_wc_use, downside_2027q1_transaction).
Operating cash flow proxy downside_2027q1_cfo	2027Q1 / downside	35.45 USD_millions	derived: Does not repeat noncash investment marks as cash generation. Formula: subtract(downside_2027q1_adj_ebitda, downside_2027q1_cfo_uses).
Existing fleet and other PP&E cash downside_2027q1_maintenance_capex	2027Q1 / downside	125.00 USD_millions	assumption: Desk assumption; not company guidance.
Power engines deposits and buildout cash downside_2027q1_power_capex	2027Q1 / downside	230.00 USD_millions	assumption: Scenario allocation within aggregate capex; redacted equipment milestones prevent an exact contractual schedule.
Gross cash PP&E and deposits downside_2027q1_capex	2027Q1 / downside	355.00 USD_millions	derived: Includes deposits once; not an additional deduction after capex. Formula: sum(downside_2027q1_maintenance_capex, downside_2027q1_power_capex).
CFO less gross PP&E downside_2027q1_fcf	2027Q1 / downside	-319.55 USD_millions	derived: No disposal proceeds netted against cash PP&E. Formula: subtract(downside_2027q1_cfo, downside_2027q1_capex).
Finance-lease principal downside_2027q1_lease_principal	2027Q1 / downside	19.00 USD_millions	assumption: Desk allocation informed by remaining 2026 gross lease payments $79.705M and 2027 $87.432M, including interest. Interest is separately in CFO.
TRA cash payment downside_2027q1_tra	2027Q1 / downside	4.00 USD_millions	assumption: Desk cash allowance, not a conclusion that the $66.870M liability is extinguished.
Common dividends and equivalents downside_2027q1_dividends	2027Q1 / downside	15.10 USD_millions	assumption: Approximately $0.09 per share quarterly, including allowance for award equivalents; future board declarations required.
Small-loan principal downside_2027q1_debt_principal	2027Q1 / downside	2.98 USD_millions	assumption: Remainder 2026 $4.961M and 2027 $11.906M disclosed debt maturities, evenly allocated.
Employee award withholding downside_2027q1_awards	2027Q1 / downside	14.00 USD_millions	assumption: Desk assumption; not company guidance.
Equity investment purchases downside_2027q1_investments	2027Q1 / downside	7.00 USD_millions	assumption: Desk assumption; not company guidance.
Additional cash uses downside_2027q1_claims	2027Q1 / downside	62.08 USD_millions	derived: Financing/equity-investment outflows; no new borrowing included. Formula: sum(downside_2027q1_lease_principal, downside_2027q1_tra, downside_2027q1_dividends, downside_2027q1_debt_principal, downside_2027q1_awards, downside_2027q1_investments).
Cash after investment and capital claims downside_2027q1_cash_after_claims	2027Q1 / downside	-381.63 USD_millions	derived: Before new financing, acquisitions, optional buybacks and asset-sale proceeds. Formula: subtract(downside_2027q1_fcf, downside_2027q1_claims).
Activity versus Q2 downside_2027q2_activity	2027Q2 / downside	94.0% ratio	assumption: Desk assumption; not company guidance.
Pricing/mix versus Q2 downside_2027q2_price	2027Q2 / downside	96.0% ratio	assumption: Desk assumption; not company guidance.
Existing business revenue downside_2027q2_existing_revenue	2027Q2 / downside	1,072.59 USD_millions	derived: Consolidated anchor already includes existing power-related activity. Formula: multiply(q2_revenue, downside_2027q2_activity, downside_2027q2_price).
Incremental new-project power revenue downside_2027q2_new_power	2027Q2 / downside	0.00 USD_millions	assumption: Desk revenue sensitivity only; no customer contract revenue per MW was disclosed for PowerBridge.
Consolidated revenue downside_2027q2_revenue	2027Q2 / downside	1,072.59 USD_millions	derived: No revenue from buying engines or announcing capacity. Formula: sum(downside_2027q2_existing_revenue, downside_2027q2_new_power).
Service contribution margin downside_2027q2_service_margin	2027Q2 / downside	16.5% ratio	assumption: Desk assumption; not company guidance.
Existing-business contribution downside_2027q2_existing_contribution	2027Q2 / downside	176.98 USD_millions	derived: Cost of services excludes D&A. Formula: multiply(downside_2027q2_existing_revenue, downside_2027q2_service_margin).
Incremental power contribution margin downside_2027q2_power_margin	2027Q2 / downside	20.0% ratio	assumption: Desk assumption; not company guidance.
New power contribution downside_2027q2_power_contribution	2027Q2 / downside	0.00 USD_millions	derived: Incremental modeled operations only. Formula: multiply(downside_2027q2_new_power, downside_2027q2_power_margin).
Service contribution before overhead and D&A downside_2027q2_contribution	2027Q2 / downside	176.98 USD_millions	derived: Company does not report these as separate historical segments. Formula: sum(downside_2027q2_existing_contribution, downside_2027q2_power_contribution).
G&A excluding stock compensation downside_2027q2_cash_overhead	2027Q2 / downside	62.50 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy downside_2027q2_adj_ebitda	2027Q2 / downside	114.48 USD_millions	derived: Excludes equity compensation, D&A and modeled nonrecurring transaction costs; ordinary operating costs remain. Formula: subtract(downside_2027q2_contribution, downside_2027q2_cash_overhead).
Stock compensation expense downside_2027q2_sbc	2027Q2 / downside	11.20 USD_millions	assumption: Desk assumption; not company guidance.
Depreciation depletion and amortization downside_2027q2_da	2027Q2 / downside	125.00 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and other operating expense downside_2027q2_transaction	2027Q2 / downside	2.00 USD_millions	assumption: Desk assumption; not company guidance.
D&A, equity expense and transaction costs downside_2027q2_gaap_deductions	2027Q2 / downside	138.20 USD_millions	derived: No investment fair-value gains in operating earnings. Formula: sum(downside_2027q2_sbc, downside_2027q2_da, downside_2027q2_transaction).
GAAP operating income proxy downside_2027q2_operating_income	2027Q2 / downside	-23.72 USD_millions	derived: Assumes no net disposal gain/loss or impairment; separate downside risks. Formula: subtract(downside_2027q2_adj_ebitda, downside_2027q2_gaap_deductions).
Cash interest net of investment income downside_2027q2_cash_interest	2027Q2 / downside	6.00 USD_millions	assumption: Small-loan and finance-lease interest, less cash yield; convertible notes have no regular coupon.
Cash income taxes downside_2027q2_cash_tax	2027Q2 / downside	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Net operating working-capital use downside_2027q2_wc_use	2027Q2 / downside	35.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash interest taxes working capital and transaction costs downside_2027q2_cfo_uses	2027Q2 / downside	48.00 USD_millions	derived: Lease principal and TRA remain below CFO; transaction costs remain cash uses. Formula: sum(downside_2027q2_cash_interest, downside_2027q2_cash_tax, downside_2027q2_wc_use, downside_2027q2_transaction).
Operating cash flow proxy downside_2027q2_cfo	2027Q2 / downside	66.48 USD_millions	derived: Does not repeat noncash investment marks as cash generation. Formula: subtract(downside_2027q2_adj_ebitda, downside_2027q2_cfo_uses).
Existing fleet and other PP&E cash downside_2027q2_maintenance_capex	2027Q2 / downside	125.00 USD_millions	assumption: Desk assumption; not company guidance.
Power engines deposits and buildout cash downside_2027q2_power_capex	2027Q2 / downside	250.00 USD_millions	assumption: Scenario allocation within aggregate capex; redacted equipment milestones prevent an exact contractual schedule.
Gross cash PP&E and deposits downside_2027q2_capex	2027Q2 / downside	375.00 USD_millions	derived: Includes deposits once; not an additional deduction after capex. Formula: sum(downside_2027q2_maintenance_capex, downside_2027q2_power_capex).
CFO less gross PP&E downside_2027q2_fcf	2027Q2 / downside	-308.52 USD_millions	derived: No disposal proceeds netted against cash PP&E. Formula: subtract(downside_2027q2_cfo, downside_2027q2_capex).
Finance-lease principal downside_2027q2_lease_principal	2027Q2 / downside	19.00 USD_millions	assumption: Desk allocation informed by remaining 2026 gross lease payments $79.705M and 2027 $87.432M, including interest. Interest is separately in CFO.
TRA cash payment downside_2027q2_tra	2027Q2 / downside	0.00 USD_millions	assumption: Desk cash allowance, not a conclusion that the $66.870M liability is extinguished.
Common dividends and equivalents downside_2027q2_dividends	2027Q2 / downside	15.10 USD_millions	assumption: Approximately $0.09 per share quarterly, including allowance for award equivalents; future board declarations required.
Small-loan principal downside_2027q2_debt_principal	2027Q2 / downside	2.98 USD_millions	assumption: Remainder 2026 $4.961M and 2027 $11.906M disclosed debt maturities, evenly allocated.
Employee award withholding downside_2027q2_awards	2027Q2 / downside	3.00 USD_millions	assumption: Desk assumption; not company guidance.
Equity investment purchases downside_2027q2_investments	2027Q2 / downside	7.00 USD_millions	assumption: Desk assumption; not company guidance.
Additional cash uses downside_2027q2_claims	2027Q2 / downside	47.08 USD_millions	derived: Financing/equity-investment outflows; no new borrowing included. Formula: sum(downside_2027q2_lease_principal, downside_2027q2_tra, downside_2027q2_dividends, downside_2027q2_debt_principal, downside_2027q2_awards, downside_2027q2_investments).
Cash after investment and capital claims downside_2027q2_cash_after_claims	2027Q2 / downside	-355.60 USD_millions	derived: Before new financing, acquisitions, optional buybacks and asset-sale proceeds. Formula: subtract(downside_2027q2_fcf, downside_2027q2_claims).
Activity versus Q2 downside_2027q3_activity	2027Q3 / downside	96.0% ratio	assumption: Desk assumption; not company guidance.
Pricing/mix versus Q2 downside_2027q3_price	2027Q3 / downside	96.0% ratio	assumption: Desk assumption; not company guidance.
Existing business revenue downside_2027q3_existing_revenue	2027Q3 / downside	1,095.41 USD_millions	derived: Consolidated anchor already includes existing power-related activity. Formula: multiply(q2_revenue, downside_2027q3_activity, downside_2027q3_price).
Incremental new-project power revenue downside_2027q3_new_power	2027Q3 / downside	0.00 USD_millions	assumption: Desk revenue sensitivity only; no customer contract revenue per MW was disclosed for PowerBridge.
Consolidated revenue downside_2027q3_revenue	2027Q3 / downside	1,095.41 USD_millions	derived: No revenue from buying engines or announcing capacity. Formula: sum(downside_2027q3_existing_revenue, downside_2027q3_new_power).
Service contribution margin downside_2027q3_service_margin	2027Q3 / downside	16.5% ratio	assumption: Desk assumption; not company guidance.
Existing-business contribution downside_2027q3_existing_contribution	2027Q3 / downside	180.74 USD_millions	derived: Cost of services excludes D&A. Formula: multiply(downside_2027q3_existing_revenue, downside_2027q3_service_margin).
Incremental power contribution margin downside_2027q3_power_margin	2027Q3 / downside	20.0% ratio	assumption: Desk assumption; not company guidance.
New power contribution downside_2027q3_power_contribution	2027Q3 / downside	0.00 USD_millions	derived: Incremental modeled operations only. Formula: multiply(downside_2027q3_new_power, downside_2027q3_power_margin).
Service contribution before overhead and D&A downside_2027q3_contribution	2027Q3 / downside	180.74 USD_millions	derived: Company does not report these as separate historical segments. Formula: sum(downside_2027q3_existing_contribution, downside_2027q3_power_contribution).
G&A excluding stock compensation downside_2027q3_cash_overhead	2027Q3 / downside	64.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy downside_2027q3_adj_ebitda	2027Q3 / downside	116.74 USD_millions	derived: Excludes equity compensation, D&A and modeled nonrecurring transaction costs; ordinary operating costs remain. Formula: subtract(downside_2027q3_contribution, downside_2027q3_cash_overhead).
Stock compensation expense downside_2027q3_sbc	2027Q3 / downside	11.60 USD_millions	assumption: Desk assumption; not company guidance.
Depreciation depletion and amortization downside_2027q3_da	2027Q3 / downside	128.00 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and other operating expense downside_2027q3_transaction	2027Q3 / downside	2.00 USD_millions	assumption: Desk assumption; not company guidance.
D&A, equity expense and transaction costs downside_2027q3_gaap_deductions	2027Q3 / downside	141.60 USD_millions	derived: No investment fair-value gains in operating earnings. Formula: sum(downside_2027q3_sbc, downside_2027q3_da, downside_2027q3_transaction).
GAAP operating income proxy downside_2027q3_operating_income	2027Q3 / downside	-24.86 USD_millions	derived: Assumes no net disposal gain/loss or impairment; separate downside risks. Formula: subtract(downside_2027q3_adj_ebitda, downside_2027q3_gaap_deductions).
Cash interest net of investment income downside_2027q3_cash_interest	2027Q3 / downside	6.00 USD_millions	assumption: Small-loan and finance-lease interest, less cash yield; convertible notes have no regular coupon.
Cash income taxes downside_2027q3_cash_tax	2027Q3 / downside	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Net operating working-capital use downside_2027q3_wc_use	2027Q3 / downside	40.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash interest taxes working capital and transaction costs downside_2027q3_cfo_uses	2027Q3 / downside	53.00 USD_millions	derived: Lease principal and TRA remain below CFO; transaction costs remain cash uses. Formula: sum(downside_2027q3_cash_interest, downside_2027q3_cash_tax, downside_2027q3_wc_use, downside_2027q3_transaction).
Operating cash flow proxy downside_2027q3_cfo	2027Q3 / downside	63.74 USD_millions	derived: Does not repeat noncash investment marks as cash generation. Formula: subtract(downside_2027q3_adj_ebitda, downside_2027q3_cfo_uses).
Existing fleet and other PP&E cash downside_2027q3_maintenance_capex	2027Q3 / downside	125.00 USD_millions	assumption: Desk assumption; not company guidance.
Power engines deposits and buildout cash downside_2027q3_power_capex	2027Q3 / downside	240.00 USD_millions	assumption: Scenario allocation within aggregate capex; redacted equipment milestones prevent an exact contractual schedule.
Gross cash PP&E and deposits downside_2027q3_capex	2027Q3 / downside	365.00 USD_millions	derived: Includes deposits once; not an additional deduction after capex. Formula: sum(downside_2027q3_maintenance_capex, downside_2027q3_power_capex).
CFO less gross PP&E downside_2027q3_fcf	2027Q3 / downside	-301.26 USD_millions	derived: No disposal proceeds netted against cash PP&E. Formula: subtract(downside_2027q3_cfo, downside_2027q3_capex).
Finance-lease principal downside_2027q3_lease_principal	2027Q3 / downside	19.00 USD_millions	assumption: Desk allocation informed by remaining 2026 gross lease payments $79.705M and 2027 $87.432M, including interest. Interest is separately in CFO.
TRA cash payment downside_2027q3_tra	2027Q3 / downside	0.00 USD_millions	assumption: Desk cash allowance, not a conclusion that the $66.870M liability is extinguished.
Common dividends and equivalents downside_2027q3_dividends	2027Q3 / downside	15.10 USD_millions	assumption: Approximately $0.09 per share quarterly, including allowance for award equivalents; future board declarations required.
Small-loan principal downside_2027q3_debt_principal	2027Q3 / downside	2.98 USD_millions	assumption: Remainder 2026 $4.961M and 2027 $11.906M disclosed debt maturities, evenly allocated.
Employee award withholding downside_2027q3_awards	2027Q3 / downside	3.00 USD_millions	assumption: Desk assumption; not company guidance.
Equity investment purchases downside_2027q3_investments	2027Q3 / downside	7.00 USD_millions	assumption: Desk assumption; not company guidance.
Additional cash uses downside_2027q3_claims	2027Q3 / downside	47.08 USD_millions	derived: Financing/equity-investment outflows; no new borrowing included. Formula: sum(downside_2027q3_lease_principal, downside_2027q3_tra, downside_2027q3_dividends, downside_2027q3_debt_principal, downside_2027q3_awards, downside_2027q3_investments).
Cash after investment and capital claims downside_2027q3_cash_after_claims	2027Q3 / downside	-348.33 USD_millions	derived: Before new financing, acquisitions, optional buybacks and asset-sale proceeds. Formula: subtract(downside_2027q3_fcf, downside_2027q3_claims).
Activity versus Q2 downside_2027q4_activity	2027Q4 / downside	96.0% ratio	assumption: Desk assumption; not company guidance.
Pricing/mix versus Q2 downside_2027q4_price	2027Q4 / downside	96.0% ratio	assumption: Desk assumption; not company guidance.
Existing business revenue downside_2027q4_existing_revenue	2027Q4 / downside	1,095.41 USD_millions	derived: Consolidated anchor already includes existing power-related activity. Formula: multiply(q2_revenue, downside_2027q4_activity, downside_2027q4_price).
Incremental new-project power revenue downside_2027q4_new_power	2027Q4 / downside	0.00 USD_millions	assumption: Desk revenue sensitivity only; no customer contract revenue per MW was disclosed for PowerBridge.
Consolidated revenue downside_2027q4_revenue	2027Q4 / downside	1,095.41 USD_millions	derived: No revenue from buying engines or announcing capacity. Formula: sum(downside_2027q4_existing_revenue, downside_2027q4_new_power).
Service contribution margin downside_2027q4_service_margin	2027Q4 / downside	16.5% ratio	assumption: Desk assumption; not company guidance.
Existing-business contribution downside_2027q4_existing_contribution	2027Q4 / downside	180.74 USD_millions	derived: Cost of services excludes D&A. Formula: multiply(downside_2027q4_existing_revenue, downside_2027q4_service_margin).
Incremental power contribution margin downside_2027q4_power_margin	2027Q4 / downside	20.0% ratio	assumption: Desk assumption; not company guidance.
New power contribution downside_2027q4_power_contribution	2027Q4 / downside	0.00 USD_millions	derived: Incremental modeled operations only. Formula: multiply(downside_2027q4_new_power, downside_2027q4_power_margin).
Service contribution before overhead and D&A downside_2027q4_contribution	2027Q4 / downside	180.74 USD_millions	derived: Company does not report these as separate historical segments. Formula: sum(downside_2027q4_existing_contribution, downside_2027q4_power_contribution).
G&A excluding stock compensation downside_2027q4_cash_overhead	2027Q4 / downside	65.50 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy downside_2027q4_adj_ebitda	2027Q4 / downside	115.24 USD_millions	derived: Excludes equity compensation, D&A and modeled nonrecurring transaction costs; ordinary operating costs remain. Formula: subtract(downside_2027q4_contribution, downside_2027q4_cash_overhead).
Stock compensation expense downside_2027q4_sbc	2027Q4 / downside	12.00 USD_millions	assumption: Desk assumption; not company guidance.
Depreciation depletion and amortization downside_2027q4_da	2027Q4 / downside	131.00 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and other operating expense downside_2027q4_transaction	2027Q4 / downside	2.00 USD_millions	assumption: Desk assumption; not company guidance.
D&A, equity expense and transaction costs downside_2027q4_gaap_deductions	2027Q4 / downside	145.00 USD_millions	derived: No investment fair-value gains in operating earnings. Formula: sum(downside_2027q4_sbc, downside_2027q4_da, downside_2027q4_transaction).
GAAP operating income proxy downside_2027q4_operating_income	2027Q4 / downside	-29.76 USD_millions	derived: Assumes no net disposal gain/loss or impairment; separate downside risks. Formula: subtract(downside_2027q4_adj_ebitda, downside_2027q4_gaap_deductions).
Cash interest net of investment income downside_2027q4_cash_interest	2027Q4 / downside	6.00 USD_millions	assumption: Small-loan and finance-lease interest, less cash yield; convertible notes have no regular coupon.
Cash income taxes downside_2027q4_cash_tax	2027Q4 / downside	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Net operating working-capital use downside_2027q4_wc_use	2027Q4 / downside	30.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash interest taxes working capital and transaction costs downside_2027q4_cfo_uses	2027Q4 / downside	43.00 USD_millions	derived: Lease principal and TRA remain below CFO; transaction costs remain cash uses. Formula: sum(downside_2027q4_cash_interest, downside_2027q4_cash_tax, downside_2027q4_wc_use, downside_2027q4_transaction).
Operating cash flow proxy downside_2027q4_cfo	2027Q4 / downside	72.24 USD_millions	derived: Does not repeat noncash investment marks as cash generation. Formula: subtract(downside_2027q4_adj_ebitda, downside_2027q4_cfo_uses).
Existing fleet and other PP&E cash downside_2027q4_maintenance_capex	2027Q4 / downside	125.00 USD_millions	assumption: Desk assumption; not company guidance.
Power engines deposits and buildout cash downside_2027q4_power_capex	2027Q4 / downside	220.00 USD_millions	assumption: Scenario allocation within aggregate capex; redacted equipment milestones prevent an exact contractual schedule.
Gross cash PP&E and deposits downside_2027q4_capex	2027Q4 / downside	345.00 USD_millions	derived: Includes deposits once; not an additional deduction after capex. Formula: sum(downside_2027q4_maintenance_capex, downside_2027q4_power_capex).
CFO less gross PP&E downside_2027q4_fcf	2027Q4 / downside	-272.76 USD_millions	derived: No disposal proceeds netted against cash PP&E. Formula: subtract(downside_2027q4_cfo, downside_2027q4_capex).
Finance-lease principal downside_2027q4_lease_principal	2027Q4 / downside	19.00 USD_millions	assumption: Desk allocation informed by remaining 2026 gross lease payments $79.705M and 2027 $87.432M, including interest. Interest is separately in CFO.
TRA cash payment downside_2027q4_tra	2027Q4 / downside	0.00 USD_millions	assumption: Desk cash allowance, not a conclusion that the $66.870M liability is extinguished.
Common dividends and equivalents downside_2027q4_dividends	2027Q4 / downside	15.10 USD_millions	assumption: Approximately $0.09 per share quarterly, including allowance for award equivalents; future board declarations required.
Small-loan principal downside_2027q4_debt_principal	2027Q4 / downside	2.98 USD_millions	assumption: Remainder 2026 $4.961M and 2027 $11.906M disclosed debt maturities, evenly allocated.
Employee award withholding downside_2027q4_awards	2027Q4 / downside	3.00 USD_millions	assumption: Desk assumption; not company guidance.
Equity investment purchases downside_2027q4_investments	2027Q4 / downside	7.00 USD_millions	assumption: Desk assumption; not company guidance.
Additional cash uses downside_2027q4_claims	2027Q4 / downside	47.08 USD_millions	derived: Financing/equity-investment outflows; no new borrowing included. Formula: sum(downside_2027q4_lease_principal, downside_2027q4_tra, downside_2027q4_dividends, downside_2027q4_debt_principal, downside_2027q4_awards, downside_2027q4_investments).
Cash after investment and capital claims downside_2027q4_cash_after_claims	2027Q4 / downside	-319.83 USD_millions	derived: Before new financing, acquisitions, optional buybacks and asset-sale proceeds. Formula: subtract(downside_2027q4_fcf, downside_2027q4_claims).
Consolidated revenue ($M) downside_fy2026_revenue	FY2026 / downside	4,320.73 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_revenue, downside_2026q3_revenue, downside_2026q4_revenue).
GAAP operating income proxy ($M) downside_fy2026_operating_income	FY2026 / downside	4.40 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_operating_income, downside_2026q3_operating_income, downside_2026q4_operating_income).
Adjusted EBITDA proxy ($M) downside_fy2026_adj_ebitda	FY2026 / downside	507.80 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_adj_ebitda, downside_2026q3_adj_ebitda, downside_2026q4_adj_ebitda).
Operating cash flow proxy ($M) downside_fy2026_cfo	FY2026 / downside	261.25 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cfo, downside_2026q3_cfo, downside_2026q4_cfo).
Gross cash PP&E and deposits ($M) downside_fy2026_capex	FY2026 / downside	970.86 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_capex, downside_2026q3_capex, downside_2026q4_capex).
CFO less gross cash PP&E ($M) downside_fy2026_fcf	FY2026 / downside	-709.61 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_fcf, downside_2026q3_fcf, downside_2026q4_fcf).
Finance-lease principal ($M) downside_fy2026_lease_principal	FY2026 / downside	118.34 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_lease_principal, downside_2026q3_lease_principal, downside_2026q4_lease_principal).
TRA payments ($M) downside_fy2026_tra	FY2026 / downside	7.89 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_tra, downside_2026q3_tra, downside_2026q4_tra).
Common dividends and equivalents ($M) downside_fy2026_dividends	FY2026 / downside	60.52 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_dividends, downside_2026q3_dividends, downside_2026q4_dividends).
Cash after investment and capital claims ($M) downside_fy2026_cash_after_claims	FY2026 / downside	-949.12 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cash_after_claims, downside_2026q3_cash_after_claims, downside_2026q4_cash_after_claims).
Consolidated revenue ($M) downside_fy2027_revenue	FY2027 / downside	4,290.36 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_revenue, downside_2027q2_revenue, downside_2027q3_revenue, downside_2027q4_revenue).
GAAP operating income proxy ($M) downside_fy2027_operating_income	FY2027 / downside	-104.69 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_operating_income, downside_2027q2_operating_income, downside_2027q3_operating_income, downside_2027q4_operating_income).
Adjusted EBITDA proxy ($M) downside_fy2027_adj_ebitda	FY2027 / downside	454.91 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_adj_ebitda, downside_2027q2_adj_ebitda, downside_2027q3_adj_ebitda, downside_2027q4_adj_ebitda).
Operating cash flow proxy ($M) downside_fy2027_cfo	FY2027 / downside	237.91 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_cfo, downside_2027q2_cfo, downside_2027q3_cfo, downside_2027q4_cfo).
Gross cash PP&E and deposits ($M) downside_fy2027_capex	FY2027 / downside	1,440.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_capex, downside_2027q2_capex, downside_2027q3_capex, downside_2027q4_capex).
CFO less gross cash PP&E ($M) downside_fy2027_fcf	FY2027 / downside	-1,202.09 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_fcf, downside_2027q2_fcf, downside_2027q3_fcf, downside_2027q4_fcf).
Finance-lease principal ($M) downside_fy2027_lease_principal	FY2027 / downside	76.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_lease_principal, downside_2027q2_lease_principal, downside_2027q3_lease_principal, downside_2027q4_lease_principal).
TRA payments ($M) downside_fy2027_tra	FY2027 / downside	4.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_tra, downside_2027q2_tra, downside_2027q3_tra, downside_2027q4_tra).
Common dividends and equivalents ($M) downside_fy2027_dividends	FY2027 / downside	60.40 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_dividends, downside_2027q2_dividends, downside_2027q3_dividends, downside_2027q4_dividends).
Cash after investment and capital claims ($M) downside_fy2027_cash_after_claims	FY2027 / downside	-1,405.40 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(downside_2027q1_cash_after_claims, downside_2027q2_cash_after_claims, downside_2027q3_cash_after_claims, downside_2027q4_cash_after_claims).
Activity versus Q2 base_2026q3_activity	2026Q3 / base	104.0% ratio	assumption: Desk assumption; not company guidance.
Pricing/mix versus Q2 base_2026q3_price	2026Q3 / base	101.0% ratio	assumption: Desk assumption; not company guidance.
Existing business revenue base_2026q3_existing_revenue	2026Q3 / base	1,248.50 USD_millions	derived: Consolidated anchor already includes existing power-related activity. Formula: multiply(q2_revenue, base_2026q3_activity, base_2026q3_price).
Incremental new-project power revenue base_2026q3_new_power	2026Q3 / base	0.00 USD_millions	assumption: Desk revenue sensitivity only; no customer contract revenue per MW was disclosed for PowerBridge.
Consolidated revenue base_2026q3_revenue	2026Q3 / base	1,248.50 USD_millions	derived: No revenue from buying engines or announcing capacity. Formula: sum(base_2026q3_existing_revenue, base_2026q3_new_power).
Service contribution margin base_2026q3_service_margin	2026Q3 / base	18.0% ratio	assumption: Desk assumption; not company guidance.
Existing-business contribution base_2026q3_existing_contribution	2026Q3 / base	224.73 USD_millions	derived: Cost of services excludes D&A. Formula: multiply(base_2026q3_existing_revenue, base_2026q3_service_margin).
Incremental power contribution margin base_2026q3_power_margin	2026Q3 / base	28.0% ratio	assumption: Desk assumption; not company guidance.
New power contribution base_2026q3_power_contribution	2026Q3 / base	0.00 USD_millions	derived: Incremental modeled operations only. Formula: multiply(base_2026q3_new_power, base_2026q3_power_margin).
Service contribution before overhead and D&A base_2026q3_contribution	2026Q3 / base	224.73 USD_millions	derived: Company does not report these as separate historical segments. Formula: sum(base_2026q3_existing_contribution, base_2026q3_power_contribution).
G&A excluding stock compensation base_2026q3_cash_overhead	2026Q3 / base	57.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy base_2026q3_adj_ebitda	2026Q3 / base	167.73 USD_millions	derived: Excludes equity compensation, D&A and modeled nonrecurring transaction costs; ordinary operating costs remain. Formula: subtract(base_2026q3_contribution, base_2026q3_cash_overhead).
Stock compensation expense base_2026q3_sbc	2026Q3 / base	10.00 USD_millions	assumption: Desk assumption; not company guidance.
Depreciation depletion and amortization base_2026q3_da	2026Q3 / base	116.00 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and other operating expense base_2026q3_transaction	2026Q3 / base	3.00 USD_millions	assumption: Desk assumption; not company guidance.
D&A, equity expense and transaction costs base_2026q3_gaap_deductions	2026Q3 / base	129.00 USD_millions	derived: No investment fair-value gains in operating earnings. Formula: sum(base_2026q3_sbc, base_2026q3_da, base_2026q3_transaction).
GAAP operating income proxy base_2026q3_operating_income	2026Q3 / base	38.73 USD_millions	derived: Assumes no net disposal gain/loss or impairment; separate downside risks. Formula: subtract(base_2026q3_adj_ebitda, base_2026q3_gaap_deductions).
Cash interest net of investment income base_2026q3_cash_interest	2026Q3 / base	5.00 USD_millions	assumption: Small-loan and finance-lease interest, less cash yield; convertible notes have no regular coupon.
Cash income taxes base_2026q3_cash_tax	2026Q3 / base	12.00 USD_millions	assumption: Desk assumption; not company guidance.
Net operating working-capital use base_2026q3_wc_use	2026Q3 / base	30.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash interest taxes working capital and transaction costs base_2026q3_cfo_uses	2026Q3 / base	50.00 USD_millions	derived: Lease principal and TRA remain below CFO; transaction costs remain cash uses. Formula: sum(base_2026q3_cash_interest, base_2026q3_cash_tax, base_2026q3_wc_use, base_2026q3_transaction).
Operating cash flow proxy base_2026q3_cfo	2026Q3 / base	117.73 USD_millions	derived: Does not repeat noncash investment marks as cash generation. Formula: subtract(base_2026q3_adj_ebitda, base_2026q3_cfo_uses).
Existing fleet and other PP&E cash base_2026q3_maintenance_capex	2026Q3 / base	115.00 USD_millions	assumption: Desk assumption; not company guidance.
Power engines deposits and buildout cash base_2026q3_power_capex	2026Q3 / base	145.00 USD_millions	assumption: Scenario allocation within aggregate capex; redacted equipment milestones prevent an exact contractual schedule.
Gross cash PP&E and deposits base_2026q3_capex	2026Q3 / base	260.00 USD_millions	derived: Includes deposits once; not an additional deduction after capex. Formula: sum(base_2026q3_maintenance_capex, base_2026q3_power_capex).
CFO less gross PP&E base_2026q3_fcf	2026Q3 / base	-142.27 USD_millions	derived: No disposal proceeds netted against cash PP&E. Formula: subtract(base_2026q3_cfo, base_2026q3_capex).
Finance-lease principal base_2026q3_lease_principal	2026Q3 / base	35.00 USD_millions	assumption: Desk allocation informed by remaining 2026 gross lease payments $79.705M and 2027 $87.432M, including interest. Interest is separately in CFO.
TRA cash payment base_2026q3_tra	2026Q3 / base	0.00 USD_millions	assumption: Desk cash allowance, not a conclusion that the $66.870M liability is extinguished.
Common dividends and equivalents base_2026q3_dividends	2026Q3 / base	15.10 USD_millions	assumption: Approximately $0.09 per share quarterly, including allowance for award equivalents; future board declarations required.
Small-loan principal base_2026q3_debt_principal	2026Q3 / base	2.48 USD_millions	assumption: Remainder 2026 $4.961M and 2027 $11.906M disclosed debt maturities, evenly allocated.
Employee award withholding base_2026q3_awards	2026Q3 / base	3.00 USD_millions	assumption: Desk assumption; not company guidance.
Equity investment purchases base_2026q3_investments	2026Q3 / base	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Additional cash uses base_2026q3_claims	2026Q3 / base	60.58 USD_millions	derived: Financing/equity-investment outflows; no new borrowing included. Formula: sum(base_2026q3_lease_principal, base_2026q3_tra, base_2026q3_dividends, base_2026q3_debt_principal, base_2026q3_awards, base_2026q3_investments).
Cash after investment and capital claims base_2026q3_cash_after_claims	2026Q3 / base	-202.85 USD_millions	derived: Before new financing, acquisitions, optional buybacks and asset-sale proceeds. Formula: subtract(base_2026q3_fcf, base_2026q3_claims).
Activity versus Q2 base_2026q4_activity	2026Q4 / base	98.0% ratio	assumption: Desk assumption; not company guidance.
Pricing/mix versus Q2 base_2026q4_price	2026Q4 / base	101.0% ratio	assumption: Desk assumption; not company guidance.
Existing business revenue base_2026q4_existing_revenue	2026Q4 / base	1,176.47 USD_millions	derived: Consolidated anchor already includes existing power-related activity. Formula: multiply(q2_revenue, base_2026q4_activity, base_2026q4_price).
Incremental new-project power revenue base_2026q4_new_power	2026Q4 / base	0.00 USD_millions	assumption: Desk revenue sensitivity only; no customer contract revenue per MW was disclosed for PowerBridge.
Consolidated revenue base_2026q4_revenue	2026Q4 / base	1,176.47 USD_millions	derived: No revenue from buying engines or announcing capacity. Formula: sum(base_2026q4_existing_revenue, base_2026q4_new_power).
Service contribution margin base_2026q4_service_margin	2026Q4 / base	18.0% ratio	assumption: Desk assumption; not company guidance.
Existing-business contribution base_2026q4_existing_contribution	2026Q4 / base	211.77 USD_millions	derived: Cost of services excludes D&A. Formula: multiply(base_2026q4_existing_revenue, base_2026q4_service_margin).
Incremental power contribution margin base_2026q4_power_margin	2026Q4 / base	28.0% ratio	assumption: Desk assumption; not company guidance.
New power contribution base_2026q4_power_contribution	2026Q4 / base	0.00 USD_millions	derived: Incremental modeled operations only. Formula: multiply(base_2026q4_new_power, base_2026q4_power_margin).
Service contribution before overhead and D&A base_2026q4_contribution	2026Q4 / base	211.77 USD_millions	derived: Company does not report these as separate historical segments. Formula: sum(base_2026q4_existing_contribution, base_2026q4_power_contribution).
G&A excluding stock compensation base_2026q4_cash_overhead	2026Q4 / base	58.50 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy base_2026q4_adj_ebitda	2026Q4 / base	153.27 USD_millions	derived: Excludes equity compensation, D&A and modeled nonrecurring transaction costs; ordinary operating costs remain. Formula: subtract(base_2026q4_contribution, base_2026q4_cash_overhead).
Stock compensation expense base_2026q4_sbc	2026Q4 / base	10.40 USD_millions	assumption: Desk assumption; not company guidance.
Depreciation depletion and amortization base_2026q4_da	2026Q4 / base	119.00 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and other operating expense base_2026q4_transaction	2026Q4 / base	3.00 USD_millions	assumption: Desk assumption; not company guidance.
D&A, equity expense and transaction costs base_2026q4_gaap_deductions	2026Q4 / base	132.40 USD_millions	derived: No investment fair-value gains in operating earnings. Formula: sum(base_2026q4_sbc, base_2026q4_da, base_2026q4_transaction).
GAAP operating income proxy base_2026q4_operating_income	2026Q4 / base	20.87 USD_millions	derived: Assumes no net disposal gain/loss or impairment; separate downside risks. Formula: subtract(base_2026q4_adj_ebitda, base_2026q4_gaap_deductions).
Cash interest net of investment income base_2026q4_cash_interest	2026Q4 / base	5.00 USD_millions	assumption: Small-loan and finance-lease interest, less cash yield; convertible notes have no regular coupon.
Cash income taxes base_2026q4_cash_tax	2026Q4 / base	14.00 USD_millions	assumption: Desk assumption; not company guidance.
Net operating working-capital use base_2026q4_wc_use	2026Q4 / base	-5.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash interest taxes working capital and transaction costs base_2026q4_cfo_uses	2026Q4 / base	17.00 USD_millions	derived: Lease principal and TRA remain below CFO; transaction costs remain cash uses. Formula: sum(base_2026q4_cash_interest, base_2026q4_cash_tax, base_2026q4_wc_use, base_2026q4_transaction).
Operating cash flow proxy base_2026q4_cfo	2026Q4 / base	136.27 USD_millions	derived: Does not repeat noncash investment marks as cash generation. Formula: subtract(base_2026q4_adj_ebitda, base_2026q4_cfo_uses).
Existing fleet and other PP&E cash base_2026q4_maintenance_capex	2026Q4 / base	115.00 USD_millions	assumption: Desk assumption; not company guidance.
Power engines deposits and buildout cash base_2026q4_power_capex	2026Q4 / base	155.00 USD_millions	assumption: Scenario allocation within aggregate capex; redacted equipment milestones prevent an exact contractual schedule.
Gross cash PP&E and deposits base_2026q4_capex	2026Q4 / base	270.00 USD_millions	derived: Includes deposits once; not an additional deduction after capex. Formula: sum(base_2026q4_maintenance_capex, base_2026q4_power_capex).
CFO less gross PP&E base_2026q4_fcf	2026Q4 / base	-133.73 USD_millions	derived: No disposal proceeds netted against cash PP&E. Formula: subtract(base_2026q4_cfo, base_2026q4_capex).
Finance-lease principal base_2026q4_lease_principal	2026Q4 / base	35.00 USD_millions	assumption: Desk allocation informed by remaining 2026 gross lease payments $79.705M and 2027 $87.432M, including interest. Interest is separately in CFO.
TRA cash payment base_2026q4_tra	2026Q4 / base	0.00 USD_millions	assumption: Desk cash allowance, not a conclusion that the $66.870M liability is extinguished.
Common dividends and equivalents base_2026q4_dividends	2026Q4 / base	15.10 USD_millions	assumption: Approximately $0.09 per share quarterly, including allowance for award equivalents; future board declarations required.
Small-loan principal base_2026q4_debt_principal	2026Q4 / base	2.48 USD_millions	assumption: Remainder 2026 $4.961M and 2027 $11.906M disclosed debt maturities, evenly allocated.
Employee award withholding base_2026q4_awards	2026Q4 / base	3.00 USD_millions	assumption: Desk assumption; not company guidance.
Equity investment purchases base_2026q4_investments	2026Q4 / base	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Additional cash uses base_2026q4_claims	2026Q4 / base	60.58 USD_millions	derived: Financing/equity-investment outflows; no new borrowing included. Formula: sum(base_2026q4_lease_principal, base_2026q4_tra, base_2026q4_dividends, base_2026q4_debt_principal, base_2026q4_awards, base_2026q4_investments).
Cash after investment and capital claims base_2026q4_cash_after_claims	2026Q4 / base	-194.32 USD_millions	derived: Before new financing, acquisitions, optional buybacks and asset-sale proceeds. Formula: subtract(base_2026q4_fcf, base_2026q4_claims).
Activity versus Q2 base_2027q1_activity	2027Q1 / base	103.0% ratio	assumption: Desk assumption; not company guidance.
Pricing/mix versus Q2 base_2027q1_price	2027Q1 / base	101.0% ratio	assumption: Desk assumption; not company guidance.
Existing business revenue base_2027q1_existing_revenue	2027Q1 / base	1,236.50 USD_millions	derived: Consolidated anchor already includes existing power-related activity. Formula: multiply(q2_revenue, base_2027q1_activity, base_2027q1_price).
Incremental new-project power revenue base_2027q1_new_power	2027Q1 / base	0.00 USD_millions	assumption: Desk revenue sensitivity only; no customer contract revenue per MW was disclosed for PowerBridge.
Consolidated revenue base_2027q1_revenue	2027Q1 / base	1,236.50 USD_millions	derived: No revenue from buying engines or announcing capacity. Formula: sum(base_2027q1_existing_revenue, base_2027q1_new_power).
Service contribution margin base_2027q1_service_margin	2027Q1 / base	18.0% ratio	assumption: Desk assumption; not company guidance.
Existing-business contribution base_2027q1_existing_contribution	2027Q1 / base	222.57 USD_millions	derived: Cost of services excludes D&A. Formula: multiply(base_2027q1_existing_revenue, base_2027q1_service_margin).
Incremental power contribution margin base_2027q1_power_margin	2027Q1 / base	28.0% ratio	assumption: Desk assumption; not company guidance.
New power contribution base_2027q1_power_contribution	2027Q1 / base	0.00 USD_millions	derived: Incremental modeled operations only. Formula: multiply(base_2027q1_new_power, base_2027q1_power_margin).
Service contribution before overhead and D&A base_2027q1_contribution	2027Q1 / base	222.57 USD_millions	derived: Company does not report these as separate historical segments. Formula: sum(base_2027q1_existing_contribution, base_2027q1_power_contribution).
G&A excluding stock compensation base_2027q1_cash_overhead	2027Q1 / base	60.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy base_2027q1_adj_ebitda	2027Q1 / base	162.57 USD_millions	derived: Excludes equity compensation, D&A and modeled nonrecurring transaction costs; ordinary operating costs remain. Formula: subtract(base_2027q1_contribution, base_2027q1_cash_overhead).
Stock compensation expense base_2027q1_sbc	2027Q1 / base	10.80 USD_millions	assumption: Desk assumption; not company guidance.
Depreciation depletion and amortization base_2027q1_da	2027Q1 / base	122.00 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and other operating expense base_2027q1_transaction	2027Q1 / base	2.00 USD_millions	assumption: Desk assumption; not company guidance.
D&A, equity expense and transaction costs base_2027q1_gaap_deductions	2027Q1 / base	134.80 USD_millions	derived: No investment fair-value gains in operating earnings. Formula: sum(base_2027q1_sbc, base_2027q1_da, base_2027q1_transaction).
GAAP operating income proxy base_2027q1_operating_income	2027Q1 / base	27.77 USD_millions	derived: Assumes no net disposal gain/loss or impairment; separate downside risks. Formula: subtract(base_2027q1_adj_ebitda, base_2027q1_gaap_deductions).
Cash interest net of investment income base_2027q1_cash_interest	2027Q1 / base	6.00 USD_millions	assumption: Small-loan and finance-lease interest, less cash yield; convertible notes have no regular coupon.
Cash income taxes base_2027q1_cash_tax	2027Q1 / base	16.00 USD_millions	assumption: Desk assumption; not company guidance.
Net operating working-capital use base_2027q1_wc_use	2027Q1 / base	40.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash interest taxes working capital and transaction costs base_2027q1_cfo_uses	2027Q1 / base	64.00 USD_millions	derived: Lease principal and TRA remain below CFO; transaction costs remain cash uses. Formula: sum(base_2027q1_cash_interest, base_2027q1_cash_tax, base_2027q1_wc_use, base_2027q1_transaction).
Operating cash flow proxy base_2027q1_cfo	2027Q1 / base	98.57 USD_millions	derived: Does not repeat noncash investment marks as cash generation. Formula: subtract(base_2027q1_adj_ebitda, base_2027q1_cfo_uses).
Existing fleet and other PP&E cash base_2027q1_maintenance_capex	2027Q1 / base	125.00 USD_millions	assumption: Desk assumption; not company guidance.
Power engines deposits and buildout cash base_2027q1_power_capex	2027Q1 / base	190.00 USD_millions	assumption: Scenario allocation within aggregate capex; redacted equipment milestones prevent an exact contractual schedule.
Gross cash PP&E and deposits base_2027q1_capex	2027Q1 / base	315.00 USD_millions	derived: Includes deposits once; not an additional deduction after capex. Formula: sum(base_2027q1_maintenance_capex, base_2027q1_power_capex).
CFO less gross PP&E base_2027q1_fcf	2027Q1 / base	-216.43 USD_millions	derived: No disposal proceeds netted against cash PP&E. Formula: subtract(base_2027q1_cfo, base_2027q1_capex).
Finance-lease principal base_2027q1_lease_principal	2027Q1 / base	19.00 USD_millions	assumption: Desk allocation informed by remaining 2026 gross lease payments $79.705M and 2027 $87.432M, including interest. Interest is separately in CFO.
TRA cash payment base_2027q1_tra	2027Q1 / base	4.00 USD_millions	assumption: Desk cash allowance, not a conclusion that the $66.870M liability is extinguished.
Common dividends and equivalents base_2027q1_dividends	2027Q1 / base	15.10 USD_millions	assumption: Approximately $0.09 per share quarterly, including allowance for award equivalents; future board declarations required.
Small-loan principal base_2027q1_debt_principal	2027Q1 / base	2.98 USD_millions	assumption: Remainder 2026 $4.961M and 2027 $11.906M disclosed debt maturities, evenly allocated.
Employee award withholding base_2027q1_awards	2027Q1 / base	14.00 USD_millions	assumption: Desk assumption; not company guidance.
Equity investment purchases base_2027q1_investments	2027Q1 / base	7.00 USD_millions	assumption: Desk assumption; not company guidance.
Additional cash uses base_2027q1_claims	2027Q1 / base	62.08 USD_millions	derived: Financing/equity-investment outflows; no new borrowing included. Formula: sum(base_2027q1_lease_principal, base_2027q1_tra, base_2027q1_dividends, base_2027q1_debt_principal, base_2027q1_awards, base_2027q1_investments).
Cash after investment and capital claims base_2027q1_cash_after_claims	2027Q1 / base	-278.51 USD_millions	derived: Before new financing, acquisitions, optional buybacks and asset-sale proceeds. Formula: subtract(base_2027q1_fcf, base_2027q1_claims).
Activity versus Q2 base_2027q2_activity	2027Q2 / base	107.0% ratio	assumption: Desk assumption; not company guidance.
Pricing/mix versus Q2 base_2027q2_price	2027Q2 / base	101.0% ratio	assumption: Desk assumption; not company guidance.
Existing business revenue base_2027q2_existing_revenue	2027Q2 / base	1,284.52 USD_millions	derived: Consolidated anchor already includes existing power-related activity. Formula: multiply(q2_revenue, base_2027q2_activity, base_2027q2_price).
Incremental new-project power revenue base_2027q2_new_power	2027Q2 / base	0.00 USD_millions	assumption: Desk revenue sensitivity only; no customer contract revenue per MW was disclosed for PowerBridge.
Consolidated revenue base_2027q2_revenue	2027Q2 / base	1,284.52 USD_millions	derived: No revenue from buying engines or announcing capacity. Formula: sum(base_2027q2_existing_revenue, base_2027q2_new_power).
Service contribution margin base_2027q2_service_margin	2027Q2 / base	18.0% ratio	assumption: Desk assumption; not company guidance.
Existing-business contribution base_2027q2_existing_contribution	2027Q2 / base	231.21 USD_millions	derived: Cost of services excludes D&A. Formula: multiply(base_2027q2_existing_revenue, base_2027q2_service_margin).
Incremental power contribution margin base_2027q2_power_margin	2027Q2 / base	28.0% ratio	assumption: Desk assumption; not company guidance.
New power contribution base_2027q2_power_contribution	2027Q2 / base	0.00 USD_millions	derived: Incremental modeled operations only. Formula: multiply(base_2027q2_new_power, base_2027q2_power_margin).
Service contribution before overhead and D&A base_2027q2_contribution	2027Q2 / base	231.21 USD_millions	derived: Company does not report these as separate historical segments. Formula: sum(base_2027q2_existing_contribution, base_2027q2_power_contribution).
G&A excluding stock compensation base_2027q2_cash_overhead	2027Q2 / base	61.50 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy base_2027q2_adj_ebitda	2027Q2 / base	169.71 USD_millions	derived: Excludes equity compensation, D&A and modeled nonrecurring transaction costs; ordinary operating costs remain. Formula: subtract(base_2027q2_contribution, base_2027q2_cash_overhead).
Stock compensation expense base_2027q2_sbc	2027Q2 / base	11.20 USD_millions	assumption: Desk assumption; not company guidance.
Depreciation depletion and amortization base_2027q2_da	2027Q2 / base	125.00 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and other operating expense base_2027q2_transaction	2027Q2 / base	2.00 USD_millions	assumption: Desk assumption; not company guidance.
D&A, equity expense and transaction costs base_2027q2_gaap_deductions	2027Q2 / base	138.20 USD_millions	derived: No investment fair-value gains in operating earnings. Formula: sum(base_2027q2_sbc, base_2027q2_da, base_2027q2_transaction).
GAAP operating income proxy base_2027q2_operating_income	2027Q2 / base	31.51 USD_millions	derived: Assumes no net disposal gain/loss or impairment; separate downside risks. Formula: subtract(base_2027q2_adj_ebitda, base_2027q2_gaap_deductions).
Cash interest net of investment income base_2027q2_cash_interest	2027Q2 / base	6.00 USD_millions	assumption: Small-loan and finance-lease interest, less cash yield; convertible notes have no regular coupon.
Cash income taxes base_2027q2_cash_tax	2027Q2 / base	18.00 USD_millions	assumption: Desk assumption; not company guidance.
Net operating working-capital use base_2027q2_wc_use	2027Q2 / base	15.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash interest taxes working capital and transaction costs base_2027q2_cfo_uses	2027Q2 / base	41.00 USD_millions	derived: Lease principal and TRA remain below CFO; transaction costs remain cash uses. Formula: sum(base_2027q2_cash_interest, base_2027q2_cash_tax, base_2027q2_wc_use, base_2027q2_transaction).
Operating cash flow proxy base_2027q2_cfo	2027Q2 / base	128.71 USD_millions	derived: Does not repeat noncash investment marks as cash generation. Formula: subtract(base_2027q2_adj_ebitda, base_2027q2_cfo_uses).
Existing fleet and other PP&E cash base_2027q2_maintenance_capex	2027Q2 / base	125.00 USD_millions	assumption: Desk assumption; not company guidance.
Power engines deposits and buildout cash base_2027q2_power_capex	2027Q2 / base	220.00 USD_millions	assumption: Scenario allocation within aggregate capex; redacted equipment milestones prevent an exact contractual schedule.
Gross cash PP&E and deposits base_2027q2_capex	2027Q2 / base	345.00 USD_millions	derived: Includes deposits once; not an additional deduction after capex. Formula: sum(base_2027q2_maintenance_capex, base_2027q2_power_capex).
CFO less gross PP&E base_2027q2_fcf	2027Q2 / base	-216.29 USD_millions	derived: No disposal proceeds netted against cash PP&E. Formula: subtract(base_2027q2_cfo, base_2027q2_capex).
Finance-lease principal base_2027q2_lease_principal	2027Q2 / base	19.00 USD_millions	assumption: Desk allocation informed by remaining 2026 gross lease payments $79.705M and 2027 $87.432M, including interest. Interest is separately in CFO.
TRA cash payment base_2027q2_tra	2027Q2 / base	0.00 USD_millions	assumption: Desk cash allowance, not a conclusion that the $66.870M liability is extinguished.
Common dividends and equivalents base_2027q2_dividends	2027Q2 / base	15.10 USD_millions	assumption: Approximately $0.09 per share quarterly, including allowance for award equivalents; future board declarations required.
Small-loan principal base_2027q2_debt_principal	2027Q2 / base	2.98 USD_millions	assumption: Remainder 2026 $4.961M and 2027 $11.906M disclosed debt maturities, evenly allocated.
Employee award withholding base_2027q2_awards	2027Q2 / base	3.00 USD_millions	assumption: Desk assumption; not company guidance.
Equity investment purchases base_2027q2_investments	2027Q2 / base	7.00 USD_millions	assumption: Desk assumption; not company guidance.
Additional cash uses base_2027q2_claims	2027Q2 / base	47.08 USD_millions	derived: Financing/equity-investment outflows; no new borrowing included. Formula: sum(base_2027q2_lease_principal, base_2027q2_tra, base_2027q2_dividends, base_2027q2_debt_principal, base_2027q2_awards, base_2027q2_investments).
Cash after investment and capital claims base_2027q2_cash_after_claims	2027Q2 / base	-263.36 USD_millions	derived: Before new financing, acquisitions, optional buybacks and asset-sale proceeds. Formula: subtract(base_2027q2_fcf, base_2027q2_claims).
Activity versus Q2 base_2027q3_activity	2027Q3 / base	109.0% ratio	assumption: Desk assumption; not company guidance.
Pricing/mix versus Q2 base_2027q3_price	2027Q3 / base	101.0% ratio	assumption: Desk assumption; not company guidance.
Existing business revenue base_2027q3_existing_revenue	2027Q3 / base	1,308.53 USD_millions	derived: Consolidated anchor already includes existing power-related activity. Formula: multiply(q2_revenue, base_2027q3_activity, base_2027q3_price).
Incremental new-project power revenue base_2027q3_new_power	2027Q3 / base	0.00 USD_millions	assumption: Desk revenue sensitivity only; no customer contract revenue per MW was disclosed for PowerBridge.
Consolidated revenue base_2027q3_revenue	2027Q3 / base	1,308.53 USD_millions	derived: No revenue from buying engines or announcing capacity. Formula: sum(base_2027q3_existing_revenue, base_2027q3_new_power).
Service contribution margin base_2027q3_service_margin	2027Q3 / base	18.0% ratio	assumption: Desk assumption; not company guidance.
Existing-business contribution base_2027q3_existing_contribution	2027Q3 / base	235.53 USD_millions	derived: Cost of services excludes D&A. Formula: multiply(base_2027q3_existing_revenue, base_2027q3_service_margin).
Incremental power contribution margin base_2027q3_power_margin	2027Q3 / base	28.0% ratio	assumption: Desk assumption; not company guidance.
New power contribution base_2027q3_power_contribution	2027Q3 / base	0.00 USD_millions	derived: Incremental modeled operations only. Formula: multiply(base_2027q3_new_power, base_2027q3_power_margin).
Service contribution before overhead and D&A base_2027q3_contribution	2027Q3 / base	235.53 USD_millions	derived: Company does not report these as separate historical segments. Formula: sum(base_2027q3_existing_contribution, base_2027q3_power_contribution).
G&A excluding stock compensation base_2027q3_cash_overhead	2027Q3 / base	63.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy base_2027q3_adj_ebitda	2027Q3 / base	172.53 USD_millions	derived: Excludes equity compensation, D&A and modeled nonrecurring transaction costs; ordinary operating costs remain. Formula: subtract(base_2027q3_contribution, base_2027q3_cash_overhead).
Stock compensation expense base_2027q3_sbc	2027Q3 / base	11.60 USD_millions	assumption: Desk assumption; not company guidance.
Depreciation depletion and amortization base_2027q3_da	2027Q3 / base	128.00 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and other operating expense base_2027q3_transaction	2027Q3 / base	2.00 USD_millions	assumption: Desk assumption; not company guidance.
D&A, equity expense and transaction costs base_2027q3_gaap_deductions	2027Q3 / base	141.60 USD_millions	derived: No investment fair-value gains in operating earnings. Formula: sum(base_2027q3_sbc, base_2027q3_da, base_2027q3_transaction).
GAAP operating income proxy base_2027q3_operating_income	2027Q3 / base	30.93 USD_millions	derived: Assumes no net disposal gain/loss or impairment; separate downside risks. Formula: subtract(base_2027q3_adj_ebitda, base_2027q3_gaap_deductions).
Cash interest net of investment income base_2027q3_cash_interest	2027Q3 / base	6.00 USD_millions	assumption: Small-loan and finance-lease interest, less cash yield; convertible notes have no regular coupon.
Cash income taxes base_2027q3_cash_tax	2027Q3 / base	20.00 USD_millions	assumption: Desk assumption; not company guidance.
Net operating working-capital use base_2027q3_wc_use	2027Q3 / base	20.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash interest taxes working capital and transaction costs base_2027q3_cfo_uses	2027Q3 / base	48.00 USD_millions	derived: Lease principal and TRA remain below CFO; transaction costs remain cash uses. Formula: sum(base_2027q3_cash_interest, base_2027q3_cash_tax, base_2027q3_wc_use, base_2027q3_transaction).
Operating cash flow proxy base_2027q3_cfo	2027Q3 / base	124.53 USD_millions	derived: Does not repeat noncash investment marks as cash generation. Formula: subtract(base_2027q3_adj_ebitda, base_2027q3_cfo_uses).
Existing fleet and other PP&E cash base_2027q3_maintenance_capex	2027Q3 / base	125.00 USD_millions	assumption: Desk assumption; not company guidance.
Power engines deposits and buildout cash base_2027q3_power_capex	2027Q3 / base	210.00 USD_millions	assumption: Scenario allocation within aggregate capex; redacted equipment milestones prevent an exact contractual schedule.
Gross cash PP&E and deposits base_2027q3_capex	2027Q3 / base	335.00 USD_millions	derived: Includes deposits once; not an additional deduction after capex. Formula: sum(base_2027q3_maintenance_capex, base_2027q3_power_capex).
CFO less gross PP&E base_2027q3_fcf	2027Q3 / base	-210.47 USD_millions	derived: No disposal proceeds netted against cash PP&E. Formula: subtract(base_2027q3_cfo, base_2027q3_capex).
Finance-lease principal base_2027q3_lease_principal	2027Q3 / base	19.00 USD_millions	assumption: Desk allocation informed by remaining 2026 gross lease payments $79.705M and 2027 $87.432M, including interest. Interest is separately in CFO.
TRA cash payment base_2027q3_tra	2027Q3 / base	0.00 USD_millions	assumption: Desk cash allowance, not a conclusion that the $66.870M liability is extinguished.
Common dividends and equivalents base_2027q3_dividends	2027Q3 / base	15.10 USD_millions	assumption: Approximately $0.09 per share quarterly, including allowance for award equivalents; future board declarations required.
Small-loan principal base_2027q3_debt_principal	2027Q3 / base	2.98 USD_millions	assumption: Remainder 2026 $4.961M and 2027 $11.906M disclosed debt maturities, evenly allocated.
Employee award withholding base_2027q3_awards	2027Q3 / base	3.00 USD_millions	assumption: Desk assumption; not company guidance.
Equity investment purchases base_2027q3_investments	2027Q3 / base	7.00 USD_millions	assumption: Desk assumption; not company guidance.
Additional cash uses base_2027q3_claims	2027Q3 / base	47.08 USD_millions	derived: Financing/equity-investment outflows; no new borrowing included. Formula: sum(base_2027q3_lease_principal, base_2027q3_tra, base_2027q3_dividends, base_2027q3_debt_principal, base_2027q3_awards, base_2027q3_investments).
Cash after investment and capital claims base_2027q3_cash_after_claims	2027Q3 / base	-257.54 USD_millions	derived: Before new financing, acquisitions, optional buybacks and asset-sale proceeds. Formula: subtract(base_2027q3_fcf, base_2027q3_claims).
Activity versus Q2 base_2027q4_activity	2027Q4 / base	106.0% ratio	assumption: Desk assumption; not company guidance.
Pricing/mix versus Q2 base_2027q4_price	2027Q4 / base	101.0% ratio	assumption: Desk assumption; not company guidance.
Existing business revenue base_2027q4_existing_revenue	2027Q4 / base	1,272.51 USD_millions	derived: Consolidated anchor already includes existing power-related activity. Formula: multiply(q2_revenue, base_2027q4_activity, base_2027q4_price).
Incremental new-project power revenue base_2027q4_new_power	2027Q4 / base	20.00 USD_millions	assumption: Desk revenue sensitivity only; no customer contract revenue per MW was disclosed for PowerBridge.
Consolidated revenue base_2027q4_revenue	2027Q4 / base	1,292.51 USD_millions	derived: No revenue from buying engines or announcing capacity. Formula: sum(base_2027q4_existing_revenue, base_2027q4_new_power).
Service contribution margin base_2027q4_service_margin	2027Q4 / base	18.0% ratio	assumption: Desk assumption; not company guidance.
Existing-business contribution base_2027q4_existing_contribution	2027Q4 / base	229.05 USD_millions	derived: Cost of services excludes D&A. Formula: multiply(base_2027q4_existing_revenue, base_2027q4_service_margin).
Incremental power contribution margin base_2027q4_power_margin	2027Q4 / base	28.0% ratio	assumption: Desk assumption; not company guidance.
New power contribution base_2027q4_power_contribution	2027Q4 / base	5.60 USD_millions	derived: Incremental modeled operations only. Formula: multiply(base_2027q4_new_power, base_2027q4_power_margin).
Service contribution before overhead and D&A base_2027q4_contribution	2027Q4 / base	234.65 USD_millions	derived: Company does not report these as separate historical segments. Formula: sum(base_2027q4_existing_contribution, base_2027q4_power_contribution).
G&A excluding stock compensation base_2027q4_cash_overhead	2027Q4 / base	64.50 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy base_2027q4_adj_ebitda	2027Q4 / base	170.15 USD_millions	derived: Excludes equity compensation, D&A and modeled nonrecurring transaction costs; ordinary operating costs remain. Formula: subtract(base_2027q4_contribution, base_2027q4_cash_overhead).
Stock compensation expense base_2027q4_sbc	2027Q4 / base	12.00 USD_millions	assumption: Desk assumption; not company guidance.
Depreciation depletion and amortization base_2027q4_da	2027Q4 / base	131.00 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and other operating expense base_2027q4_transaction	2027Q4 / base	2.00 USD_millions	assumption: Desk assumption; not company guidance.
D&A, equity expense and transaction costs base_2027q4_gaap_deductions	2027Q4 / base	145.00 USD_millions	derived: No investment fair-value gains in operating earnings. Formula: sum(base_2027q4_sbc, base_2027q4_da, base_2027q4_transaction).
GAAP operating income proxy base_2027q4_operating_income	2027Q4 / base	25.15 USD_millions	derived: Assumes no net disposal gain/loss or impairment; separate downside risks. Formula: subtract(base_2027q4_adj_ebitda, base_2027q4_gaap_deductions).
Cash interest net of investment income base_2027q4_cash_interest	2027Q4 / base	6.00 USD_millions	assumption: Small-loan and finance-lease interest, less cash yield; convertible notes have no regular coupon.
Cash income taxes base_2027q4_cash_tax	2027Q4 / base	22.00 USD_millions	assumption: Desk assumption; not company guidance.
Net operating working-capital use base_2027q4_wc_use	2027Q4 / base	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash interest taxes working capital and transaction costs base_2027q4_cfo_uses	2027Q4 / base	35.00 USD_millions	derived: Lease principal and TRA remain below CFO; transaction costs remain cash uses. Formula: sum(base_2027q4_cash_interest, base_2027q4_cash_tax, base_2027q4_wc_use, base_2027q4_transaction).
Operating cash flow proxy base_2027q4_cfo	2027Q4 / base	135.15 USD_millions	derived: Does not repeat noncash investment marks as cash generation. Formula: subtract(base_2027q4_adj_ebitda, base_2027q4_cfo_uses).
Existing fleet and other PP&E cash base_2027q4_maintenance_capex	2027Q4 / base	125.00 USD_millions	assumption: Desk assumption; not company guidance.
Power engines deposits and buildout cash base_2027q4_power_capex	2027Q4 / base	190.00 USD_millions	assumption: Scenario allocation within aggregate capex; redacted equipment milestones prevent an exact contractual schedule.
Gross cash PP&E and deposits base_2027q4_capex	2027Q4 / base	315.00 USD_millions	derived: Includes deposits once; not an additional deduction after capex. Formula: sum(base_2027q4_maintenance_capex, base_2027q4_power_capex).
CFO less gross PP&E base_2027q4_fcf	2027Q4 / base	-179.85 USD_millions	derived: No disposal proceeds netted against cash PP&E. Formula: subtract(base_2027q4_cfo, base_2027q4_capex).
Finance-lease principal base_2027q4_lease_principal	2027Q4 / base	19.00 USD_millions	assumption: Desk allocation informed by remaining 2026 gross lease payments $79.705M and 2027 $87.432M, including interest. Interest is separately in CFO.
TRA cash payment base_2027q4_tra	2027Q4 / base	0.00 USD_millions	assumption: Desk cash allowance, not a conclusion that the $66.870M liability is extinguished.
Common dividends and equivalents base_2027q4_dividends	2027Q4 / base	15.10 USD_millions	assumption: Approximately $0.09 per share quarterly, including allowance for award equivalents; future board declarations required.
Small-loan principal base_2027q4_debt_principal	2027Q4 / base	2.98 USD_millions	assumption: Remainder 2026 $4.961M and 2027 $11.906M disclosed debt maturities, evenly allocated.
Employee award withholding base_2027q4_awards	2027Q4 / base	3.00 USD_millions	assumption: Desk assumption; not company guidance.
Equity investment purchases base_2027q4_investments	2027Q4 / base	7.00 USD_millions	assumption: Desk assumption; not company guidance.
Additional cash uses base_2027q4_claims	2027Q4 / base	47.08 USD_millions	derived: Financing/equity-investment outflows; no new borrowing included. Formula: sum(base_2027q4_lease_principal, base_2027q4_tra, base_2027q4_dividends, base_2027q4_debt_principal, base_2027q4_awards, base_2027q4_investments).
Cash after investment and capital claims base_2027q4_cash_after_claims	2027Q4 / base	-226.92 USD_millions	derived: Before new financing, acquisitions, optional buybacks and asset-sale proceeds. Formula: subtract(base_2027q4_fcf, base_2027q4_claims).
Consolidated revenue ($M) base_fy2026_revenue	FY2026 / base	4,634.75 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_revenue, base_2026q3_revenue, base_2026q4_revenue).
GAAP operating income proxy ($M) base_fy2026_operating_income	FY2026 / base	94.59 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_operating_income, base_2026q3_operating_income, base_2026q4_operating_income).
Adjusted EBITDA proxy ($M) base_fy2026_adj_ebitda	FY2026 / base	597.99 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_adj_ebitda, base_2026q3_adj_ebitda, base_2026q4_adj_ebitda).
Operating cash flow proxy ($M) base_fy2026_cfo	FY2026 / base	395.44 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cfo, base_2026q3_cfo, base_2026q4_cfo).
Gross cash PP&E and deposits ($M) base_fy2026_capex	FY2026 / base	910.86 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_capex, base_2026q3_capex, base_2026q4_capex).
CFO less gross cash PP&E ($M) base_fy2026_fcf	FY2026 / base	-515.42 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_fcf, base_2026q3_fcf, base_2026q4_fcf).
Finance-lease principal ($M) base_fy2026_lease_principal	FY2026 / base	118.34 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_lease_principal, base_2026q3_lease_principal, base_2026q4_lease_principal).
TRA payments ($M) base_fy2026_tra	FY2026 / base	7.89 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_tra, base_2026q3_tra, base_2026q4_tra).
Common dividends and equivalents ($M) base_fy2026_dividends	FY2026 / base	60.52 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_dividends, base_2026q3_dividends, base_2026q4_dividends).
Cash after investment and capital claims ($M) base_fy2026_cash_after_claims	FY2026 / base	-754.93 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cash_after_claims, base_2026q3_cash_after_claims, base_2026q4_cash_after_claims).
Consolidated revenue ($M) base_fy2027_revenue	FY2027 / base	5,122.05 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_revenue, base_2027q2_revenue, base_2027q3_revenue, base_2027q4_revenue).
GAAP operating income proxy ($M) base_fy2027_operating_income	FY2027 / base	115.37 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_operating_income, base_2027q2_operating_income, base_2027q3_operating_income, base_2027q4_operating_income).
Adjusted EBITDA proxy ($M) base_fy2027_adj_ebitda	FY2027 / base	674.97 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_adj_ebitda, base_2027q2_adj_ebitda, base_2027q3_adj_ebitda, base_2027q4_adj_ebitda).
Operating cash flow proxy ($M) base_fy2027_cfo	FY2027 / base	486.97 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_cfo, base_2027q2_cfo, base_2027q3_cfo, base_2027q4_cfo).
Gross cash PP&E and deposits ($M) base_fy2027_capex	FY2027 / base	1,310.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_capex, base_2027q2_capex, base_2027q3_capex, base_2027q4_capex).
CFO less gross cash PP&E ($M) base_fy2027_fcf	FY2027 / base	-823.03 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_fcf, base_2027q2_fcf, base_2027q3_fcf, base_2027q4_fcf).
Finance-lease principal ($M) base_fy2027_lease_principal	FY2027 / base	76.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_lease_principal, base_2027q2_lease_principal, base_2027q3_lease_principal, base_2027q4_lease_principal).
TRA payments ($M) base_fy2027_tra	FY2027 / base	4.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_tra, base_2027q2_tra, base_2027q3_tra, base_2027q4_tra).
Common dividends and equivalents ($M) base_fy2027_dividends	FY2027 / base	60.40 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_dividends, base_2027q2_dividends, base_2027q3_dividends, base_2027q4_dividends).
Cash after investment and capital claims ($M) base_fy2027_cash_after_claims	FY2027 / base	-1,026.34 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(base_2027q1_cash_after_claims, base_2027q2_cash_after_claims, base_2027q3_cash_after_claims, base_2027q4_cash_after_claims).
Activity versus Q2 upside_2026q3_activity	2026Q3 / upside	108.0% ratio	assumption: Desk assumption; not company guidance.
Pricing/mix versus Q2 upside_2026q3_price	2026Q3 / upside	103.0% ratio	assumption: Desk assumption; not company guidance.
Existing business revenue upside_2026q3_existing_revenue	2026Q3 / upside	1,322.19 USD_millions	derived: Consolidated anchor already includes existing power-related activity. Formula: multiply(q2_revenue, upside_2026q3_activity, upside_2026q3_price).
Incremental new-project power revenue upside_2026q3_new_power	2026Q3 / upside	0.00 USD_millions	assumption: Desk revenue sensitivity only; no customer contract revenue per MW was disclosed for PowerBridge.
Consolidated revenue upside_2026q3_revenue	2026Q3 / upside	1,322.19 USD_millions	derived: No revenue from buying engines or announcing capacity. Formula: sum(upside_2026q3_existing_revenue, upside_2026q3_new_power).
Service contribution margin upside_2026q3_service_margin	2026Q3 / upside	19.5% ratio	assumption: Desk assumption; not company guidance.
Existing-business contribution upside_2026q3_existing_contribution	2026Q3 / upside	257.83 USD_millions	derived: Cost of services excludes D&A. Formula: multiply(upside_2026q3_existing_revenue, upside_2026q3_service_margin).
Incremental power contribution margin upside_2026q3_power_margin	2026Q3 / upside	32.0% ratio	assumption: Desk assumption; not company guidance.
New power contribution upside_2026q3_power_contribution	2026Q3 / upside	0.00 USD_millions	derived: Incremental modeled operations only. Formula: multiply(upside_2026q3_new_power, upside_2026q3_power_margin).
Service contribution before overhead and D&A upside_2026q3_contribution	2026Q3 / upside	257.83 USD_millions	derived: Company does not report these as separate historical segments. Formula: sum(upside_2026q3_existing_contribution, upside_2026q3_power_contribution).
G&A excluding stock compensation upside_2026q3_cash_overhead	2026Q3 / upside	60.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy upside_2026q3_adj_ebitda	2026Q3 / upside	197.83 USD_millions	derived: Excludes equity compensation, D&A and modeled nonrecurring transaction costs; ordinary operating costs remain. Formula: subtract(upside_2026q3_contribution, upside_2026q3_cash_overhead).
Stock compensation expense upside_2026q3_sbc	2026Q3 / upside	10.00 USD_millions	assumption: Desk assumption; not company guidance.
Depreciation depletion and amortization upside_2026q3_da	2026Q3 / upside	116.00 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and other operating expense upside_2026q3_transaction	2026Q3 / upside	3.00 USD_millions	assumption: Desk assumption; not company guidance.
D&A, equity expense and transaction costs upside_2026q3_gaap_deductions	2026Q3 / upside	129.00 USD_millions	derived: No investment fair-value gains in operating earnings. Formula: sum(upside_2026q3_sbc, upside_2026q3_da, upside_2026q3_transaction).
GAAP operating income proxy upside_2026q3_operating_income	2026Q3 / upside	68.83 USD_millions	derived: Assumes no net disposal gain/loss or impairment; separate downside risks. Formula: subtract(upside_2026q3_adj_ebitda, upside_2026q3_gaap_deductions).
Cash interest net of investment income upside_2026q3_cash_interest	2026Q3 / upside	5.00 USD_millions	assumption: Small-loan and finance-lease interest, less cash yield; convertible notes have no regular coupon.
Cash income taxes upside_2026q3_cash_tax	2026Q3 / upside	12.00 USD_millions	assumption: Desk assumption; not company guidance.
Net operating working-capital use upside_2026q3_wc_use	2026Q3 / upside	40.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash interest taxes working capital and transaction costs upside_2026q3_cfo_uses	2026Q3 / upside	60.00 USD_millions	derived: Lease principal and TRA remain below CFO; transaction costs remain cash uses. Formula: sum(upside_2026q3_cash_interest, upside_2026q3_cash_tax, upside_2026q3_wc_use, upside_2026q3_transaction).
Operating cash flow proxy upside_2026q3_cfo	2026Q3 / upside	137.83 USD_millions	derived: Does not repeat noncash investment marks as cash generation. Formula: subtract(upside_2026q3_adj_ebitda, upside_2026q3_cfo_uses).
Existing fleet and other PP&E cash upside_2026q3_maintenance_capex	2026Q3 / upside	115.00 USD_millions	assumption: Desk assumption; not company guidance.
Power engines deposits and buildout cash upside_2026q3_power_capex	2026Q3 / upside	170.00 USD_millions	assumption: Scenario allocation within aggregate capex; redacted equipment milestones prevent an exact contractual schedule.
Gross cash PP&E and deposits upside_2026q3_capex	2026Q3 / upside	285.00 USD_millions	derived: Includes deposits once; not an additional deduction after capex. Formula: sum(upside_2026q3_maintenance_capex, upside_2026q3_power_capex).
CFO less gross PP&E upside_2026q3_fcf	2026Q3 / upside	-147.17 USD_millions	derived: No disposal proceeds netted against cash PP&E. Formula: subtract(upside_2026q3_cfo, upside_2026q3_capex).
Finance-lease principal upside_2026q3_lease_principal	2026Q3 / upside	35.00 USD_millions	assumption: Desk allocation informed by remaining 2026 gross lease payments $79.705M and 2027 $87.432M, including interest. Interest is separately in CFO.
TRA cash payment upside_2026q3_tra	2026Q3 / upside	0.00 USD_millions	assumption: Desk cash allowance, not a conclusion that the $66.870M liability is extinguished.
Common dividends and equivalents upside_2026q3_dividends	2026Q3 / upside	15.10 USD_millions	assumption: Approximately $0.09 per share quarterly, including allowance for award equivalents; future board declarations required.
Small-loan principal upside_2026q3_debt_principal	2026Q3 / upside	2.48 USD_millions	assumption: Remainder 2026 $4.961M and 2027 $11.906M disclosed debt maturities, evenly allocated.
Employee award withholding upside_2026q3_awards	2026Q3 / upside	3.00 USD_millions	assumption: Desk assumption; not company guidance.
Equity investment purchases upside_2026q3_investments	2026Q3 / upside	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Additional cash uses upside_2026q3_claims	2026Q3 / upside	60.58 USD_millions	derived: Financing/equity-investment outflows; no new borrowing included. Formula: sum(upside_2026q3_lease_principal, upside_2026q3_tra, upside_2026q3_dividends, upside_2026q3_debt_principal, upside_2026q3_awards, upside_2026q3_investments).
Cash after investment and capital claims upside_2026q3_cash_after_claims	2026Q3 / upside	-207.75 USD_millions	derived: Before new financing, acquisitions, optional buybacks and asset-sale proceeds. Formula: subtract(upside_2026q3_fcf, upside_2026q3_claims).
Activity versus Q2 upside_2026q4_activity	2026Q4 / upside	104.0% ratio	assumption: Desk assumption; not company guidance.
Pricing/mix versus Q2 upside_2026q4_price	2026Q4 / upside	103.0% ratio	assumption: Desk assumption; not company guidance.
Existing business revenue upside_2026q4_existing_revenue	2026Q4 / upside	1,273.22 USD_millions	derived: Consolidated anchor already includes existing power-related activity. Formula: multiply(q2_revenue, upside_2026q4_activity, upside_2026q4_price).
Incremental new-project power revenue upside_2026q4_new_power	2026Q4 / upside	0.00 USD_millions	assumption: Desk revenue sensitivity only; no customer contract revenue per MW was disclosed for PowerBridge.
Consolidated revenue upside_2026q4_revenue	2026Q4 / upside	1,273.22 USD_millions	derived: No revenue from buying engines or announcing capacity. Formula: sum(upside_2026q4_existing_revenue, upside_2026q4_new_power).
Service contribution margin upside_2026q4_service_margin	2026Q4 / upside	19.5% ratio	assumption: Desk assumption; not company guidance.
Existing-business contribution upside_2026q4_existing_contribution	2026Q4 / upside	248.28 USD_millions	derived: Cost of services excludes D&A. Formula: multiply(upside_2026q4_existing_revenue, upside_2026q4_service_margin).
Incremental power contribution margin upside_2026q4_power_margin	2026Q4 / upside	32.0% ratio	assumption: Desk assumption; not company guidance.
New power contribution upside_2026q4_power_contribution	2026Q4 / upside	0.00 USD_millions	derived: Incremental modeled operations only. Formula: multiply(upside_2026q4_new_power, upside_2026q4_power_margin).
Service contribution before overhead and D&A upside_2026q4_contribution	2026Q4 / upside	248.28 USD_millions	derived: Company does not report these as separate historical segments. Formula: sum(upside_2026q4_existing_contribution, upside_2026q4_power_contribution).
G&A excluding stock compensation upside_2026q4_cash_overhead	2026Q4 / upside	61.50 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy upside_2026q4_adj_ebitda	2026Q4 / upside	186.78 USD_millions	derived: Excludes equity compensation, D&A and modeled nonrecurring transaction costs; ordinary operating costs remain. Formula: subtract(upside_2026q4_contribution, upside_2026q4_cash_overhead).
Stock compensation expense upside_2026q4_sbc	2026Q4 / upside	10.40 USD_millions	assumption: Desk assumption; not company guidance.
Depreciation depletion and amortization upside_2026q4_da	2026Q4 / upside	119.00 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and other operating expense upside_2026q4_transaction	2026Q4 / upside	3.00 USD_millions	assumption: Desk assumption; not company guidance.
D&A, equity expense and transaction costs upside_2026q4_gaap_deductions	2026Q4 / upside	132.40 USD_millions	derived: No investment fair-value gains in operating earnings. Formula: sum(upside_2026q4_sbc, upside_2026q4_da, upside_2026q4_transaction).
GAAP operating income proxy upside_2026q4_operating_income	2026Q4 / upside	54.38 USD_millions	derived: Assumes no net disposal gain/loss or impairment; separate downside risks. Formula: subtract(upside_2026q4_adj_ebitda, upside_2026q4_gaap_deductions).
Cash interest net of investment income upside_2026q4_cash_interest	2026Q4 / upside	5.00 USD_millions	assumption: Small-loan and finance-lease interest, less cash yield; convertible notes have no regular coupon.
Cash income taxes upside_2026q4_cash_tax	2026Q4 / upside	14.00 USD_millions	assumption: Desk assumption; not company guidance.
Net operating working-capital use upside_2026q4_wc_use	2026Q4 / upside	0.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash interest taxes working capital and transaction costs upside_2026q4_cfo_uses	2026Q4 / upside	22.00 USD_millions	derived: Lease principal and TRA remain below CFO; transaction costs remain cash uses. Formula: sum(upside_2026q4_cash_interest, upside_2026q4_cash_tax, upside_2026q4_wc_use, upside_2026q4_transaction).
Operating cash flow proxy upside_2026q4_cfo	2026Q4 / upside	164.78 USD_millions	derived: Does not repeat noncash investment marks as cash generation. Formula: subtract(upside_2026q4_adj_ebitda, upside_2026q4_cfo_uses).
Existing fleet and other PP&E cash upside_2026q4_maintenance_capex	2026Q4 / upside	115.00 USD_millions	assumption: Desk assumption; not company guidance.
Power engines deposits and buildout cash upside_2026q4_power_capex	2026Q4 / upside	180.00 USD_millions	assumption: Scenario allocation within aggregate capex; redacted equipment milestones prevent an exact contractual schedule.
Gross cash PP&E and deposits upside_2026q4_capex	2026Q4 / upside	295.00 USD_millions	derived: Includes deposits once; not an additional deduction after capex. Formula: sum(upside_2026q4_maintenance_capex, upside_2026q4_power_capex).
CFO less gross PP&E upside_2026q4_fcf	2026Q4 / upside	-130.22 USD_millions	derived: No disposal proceeds netted against cash PP&E. Formula: subtract(upside_2026q4_cfo, upside_2026q4_capex).
Finance-lease principal upside_2026q4_lease_principal	2026Q4 / upside	35.00 USD_millions	assumption: Desk allocation informed by remaining 2026 gross lease payments $79.705M and 2027 $87.432M, including interest. Interest is separately in CFO.
TRA cash payment upside_2026q4_tra	2026Q4 / upside	0.00 USD_millions	assumption: Desk cash allowance, not a conclusion that the $66.870M liability is extinguished.
Common dividends and equivalents upside_2026q4_dividends	2026Q4 / upside	15.10 USD_millions	assumption: Approximately $0.09 per share quarterly, including allowance for award equivalents; future board declarations required.
Small-loan principal upside_2026q4_debt_principal	2026Q4 / upside	2.48 USD_millions	assumption: Remainder 2026 $4.961M and 2027 $11.906M disclosed debt maturities, evenly allocated.
Employee award withholding upside_2026q4_awards	2026Q4 / upside	3.00 USD_millions	assumption: Desk assumption; not company guidance.
Equity investment purchases upside_2026q4_investments	2026Q4 / upside	5.00 USD_millions	assumption: Desk assumption; not company guidance.
Additional cash uses upside_2026q4_claims	2026Q4 / upside	60.58 USD_millions	derived: Financing/equity-investment outflows; no new borrowing included. Formula: sum(upside_2026q4_lease_principal, upside_2026q4_tra, upside_2026q4_dividends, upside_2026q4_debt_principal, upside_2026q4_awards, upside_2026q4_investments).
Cash after investment and capital claims upside_2026q4_cash_after_claims	2026Q4 / upside	-190.80 USD_millions	derived: Before new financing, acquisitions, optional buybacks and asset-sale proceeds. Formula: subtract(upside_2026q4_fcf, upside_2026q4_claims).
Activity versus Q2 upside_2027q1_activity	2027Q1 / upside	113.0% ratio	assumption: Desk assumption; not company guidance.
Pricing/mix versus Q2 upside_2027q1_price	2027Q1 / upside	103.0% ratio	assumption: Desk assumption; not company guidance.
Existing business revenue upside_2027q1_existing_revenue	2027Q1 / upside	1,383.41 USD_millions	derived: Consolidated anchor already includes existing power-related activity. Formula: multiply(q2_revenue, upside_2027q1_activity, upside_2027q1_price).
Incremental new-project power revenue upside_2027q1_new_power	2027Q1 / upside	0.00 USD_millions	assumption: Desk revenue sensitivity only; no customer contract revenue per MW was disclosed for PowerBridge.
Consolidated revenue upside_2027q1_revenue	2027Q1 / upside	1,383.41 USD_millions	derived: No revenue from buying engines or announcing capacity. Formula: sum(upside_2027q1_existing_revenue, upside_2027q1_new_power).
Service contribution margin upside_2027q1_service_margin	2027Q1 / upside	19.5% ratio	assumption: Desk assumption; not company guidance.
Existing-business contribution upside_2027q1_existing_contribution	2027Q1 / upside	269.76 USD_millions	derived: Cost of services excludes D&A. Formula: multiply(upside_2027q1_existing_revenue, upside_2027q1_service_margin).
Incremental power contribution margin upside_2027q1_power_margin	2027Q1 / upside	32.0% ratio	assumption: Desk assumption; not company guidance.
New power contribution upside_2027q1_power_contribution	2027Q1 / upside	0.00 USD_millions	derived: Incremental modeled operations only. Formula: multiply(upside_2027q1_new_power, upside_2027q1_power_margin).
Service contribution before overhead and D&A upside_2027q1_contribution	2027Q1 / upside	269.76 USD_millions	derived: Company does not report these as separate historical segments. Formula: sum(upside_2027q1_existing_contribution, upside_2027q1_power_contribution).
G&A excluding stock compensation upside_2027q1_cash_overhead	2027Q1 / upside	63.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy upside_2027q1_adj_ebitda	2027Q1 / upside	206.76 USD_millions	derived: Excludes equity compensation, D&A and modeled nonrecurring transaction costs; ordinary operating costs remain. Formula: subtract(upside_2027q1_contribution, upside_2027q1_cash_overhead).
Stock compensation expense upside_2027q1_sbc	2027Q1 / upside	10.80 USD_millions	assumption: Desk assumption; not company guidance.
Depreciation depletion and amortization upside_2027q1_da	2027Q1 / upside	122.00 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and other operating expense upside_2027q1_transaction	2027Q1 / upside	2.00 USD_millions	assumption: Desk assumption; not company guidance.
D&A, equity expense and transaction costs upside_2027q1_gaap_deductions	2027Q1 / upside	134.80 USD_millions	derived: No investment fair-value gains in operating earnings. Formula: sum(upside_2027q1_sbc, upside_2027q1_da, upside_2027q1_transaction).
GAAP operating income proxy upside_2027q1_operating_income	2027Q1 / upside	71.96 USD_millions	derived: Assumes no net disposal gain/loss or impairment; separate downside risks. Formula: subtract(upside_2027q1_adj_ebitda, upside_2027q1_gaap_deductions).
Cash interest net of investment income upside_2027q1_cash_interest	2027Q1 / upside	6.00 USD_millions	assumption: Small-loan and finance-lease interest, less cash yield; convertible notes have no regular coupon.
Cash income taxes upside_2027q1_cash_tax	2027Q1 / upside	16.00 USD_millions	assumption: Desk assumption; not company guidance.
Net operating working-capital use upside_2027q1_wc_use	2027Q1 / upside	55.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash interest taxes working capital and transaction costs upside_2027q1_cfo_uses	2027Q1 / upside	79.00 USD_millions	derived: Lease principal and TRA remain below CFO; transaction costs remain cash uses. Formula: sum(upside_2027q1_cash_interest, upside_2027q1_cash_tax, upside_2027q1_wc_use, upside_2027q1_transaction).
Operating cash flow proxy upside_2027q1_cfo	2027Q1 / upside	127.76 USD_millions	derived: Does not repeat noncash investment marks as cash generation. Formula: subtract(upside_2027q1_adj_ebitda, upside_2027q1_cfo_uses).
Existing fleet and other PP&E cash upside_2027q1_maintenance_capex	2027Q1 / upside	125.00 USD_millions	assumption: Desk assumption; not company guidance.
Power engines deposits and buildout cash upside_2027q1_power_capex	2027Q1 / upside	230.00 USD_millions	assumption: Scenario allocation within aggregate capex; redacted equipment milestones prevent an exact contractual schedule.
Gross cash PP&E and deposits upside_2027q1_capex	2027Q1 / upside	355.00 USD_millions	derived: Includes deposits once; not an additional deduction after capex. Formula: sum(upside_2027q1_maintenance_capex, upside_2027q1_power_capex).
CFO less gross PP&E upside_2027q1_fcf	2027Q1 / upside	-227.24 USD_millions	derived: No disposal proceeds netted against cash PP&E. Formula: subtract(upside_2027q1_cfo, upside_2027q1_capex).
Finance-lease principal upside_2027q1_lease_principal	2027Q1 / upside	19.00 USD_millions	assumption: Desk allocation informed by remaining 2026 gross lease payments $79.705M and 2027 $87.432M, including interest. Interest is separately in CFO.
TRA cash payment upside_2027q1_tra	2027Q1 / upside	4.00 USD_millions	assumption: Desk cash allowance, not a conclusion that the $66.870M liability is extinguished.
Common dividends and equivalents upside_2027q1_dividends	2027Q1 / upside	15.10 USD_millions	assumption: Approximately $0.09 per share quarterly, including allowance for award equivalents; future board declarations required.
Small-loan principal upside_2027q1_debt_principal	2027Q1 / upside	2.98 USD_millions	assumption: Remainder 2026 $4.961M and 2027 $11.906M disclosed debt maturities, evenly allocated.
Employee award withholding upside_2027q1_awards	2027Q1 / upside	14.00 USD_millions	assumption: Desk assumption; not company guidance.
Equity investment purchases upside_2027q1_investments	2027Q1 / upside	7.00 USD_millions	assumption: Desk assumption; not company guidance.
Additional cash uses upside_2027q1_claims	2027Q1 / upside	62.08 USD_millions	derived: Financing/equity-investment outflows; no new borrowing included. Formula: sum(upside_2027q1_lease_principal, upside_2027q1_tra, upside_2027q1_dividends, upside_2027q1_debt_principal, upside_2027q1_awards, upside_2027q1_investments).
Cash after investment and capital claims upside_2027q1_cash_after_claims	2027Q1 / upside	-289.31 USD_millions	derived: Before new financing, acquisitions, optional buybacks and asset-sale proceeds. Formula: subtract(upside_2027q1_fcf, upside_2027q1_claims).
Activity versus Q2 upside_2027q2_activity	2027Q2 / upside	118.0% ratio	assumption: Desk assumption; not company guidance.
Pricing/mix versus Q2 upside_2027q2_price	2027Q2 / upside	103.0% ratio	assumption: Desk assumption; not company guidance.
Existing business revenue upside_2027q2_existing_revenue	2027Q2 / upside	1,444.62 USD_millions	derived: Consolidated anchor already includes existing power-related activity. Formula: multiply(q2_revenue, upside_2027q2_activity, upside_2027q2_price).
Incremental new-project power revenue upside_2027q2_new_power	2027Q2 / upside	0.00 USD_millions	assumption: Desk revenue sensitivity only; no customer contract revenue per MW was disclosed for PowerBridge.
Consolidated revenue upside_2027q2_revenue	2027Q2 / upside	1,444.62 USD_millions	derived: No revenue from buying engines or announcing capacity. Formula: sum(upside_2027q2_existing_revenue, upside_2027q2_new_power).
Service contribution margin upside_2027q2_service_margin	2027Q2 / upside	19.5% ratio	assumption: Desk assumption; not company guidance.
Existing-business contribution upside_2027q2_existing_contribution	2027Q2 / upside	281.70 USD_millions	derived: Cost of services excludes D&A. Formula: multiply(upside_2027q2_existing_revenue, upside_2027q2_service_margin).
Incremental power contribution margin upside_2027q2_power_margin	2027Q2 / upside	32.0% ratio	assumption: Desk assumption; not company guidance.
New power contribution upside_2027q2_power_contribution	2027Q2 / upside	0.00 USD_millions	derived: Incremental modeled operations only. Formula: multiply(upside_2027q2_new_power, upside_2027q2_power_margin).
Service contribution before overhead and D&A upside_2027q2_contribution	2027Q2 / upside	281.70 USD_millions	derived: Company does not report these as separate historical segments. Formula: sum(upside_2027q2_existing_contribution, upside_2027q2_power_contribution).
G&A excluding stock compensation upside_2027q2_cash_overhead	2027Q2 / upside	64.50 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy upside_2027q2_adj_ebitda	2027Q2 / upside	217.20 USD_millions	derived: Excludes equity compensation, D&A and modeled nonrecurring transaction costs; ordinary operating costs remain. Formula: subtract(upside_2027q2_contribution, upside_2027q2_cash_overhead).
Stock compensation expense upside_2027q2_sbc	2027Q2 / upside	11.20 USD_millions	assumption: Desk assumption; not company guidance.
Depreciation depletion and amortization upside_2027q2_da	2027Q2 / upside	125.00 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and other operating expense upside_2027q2_transaction	2027Q2 / upside	2.00 USD_millions	assumption: Desk assumption; not company guidance.
D&A, equity expense and transaction costs upside_2027q2_gaap_deductions	2027Q2 / upside	138.20 USD_millions	derived: No investment fair-value gains in operating earnings. Formula: sum(upside_2027q2_sbc, upside_2027q2_da, upside_2027q2_transaction).
GAAP operating income proxy upside_2027q2_operating_income	2027Q2 / upside	79.00 USD_millions	derived: Assumes no net disposal gain/loss or impairment; separate downside risks. Formula: subtract(upside_2027q2_adj_ebitda, upside_2027q2_gaap_deductions).
Cash interest net of investment income upside_2027q2_cash_interest	2027Q2 / upside	6.00 USD_millions	assumption: Small-loan and finance-lease interest, less cash yield; convertible notes have no regular coupon.
Cash income taxes upside_2027q2_cash_tax	2027Q2 / upside	18.00 USD_millions	assumption: Desk assumption; not company guidance.
Net operating working-capital use upside_2027q2_wc_use	2027Q2 / upside	25.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash interest taxes working capital and transaction costs upside_2027q2_cfo_uses	2027Q2 / upside	51.00 USD_millions	derived: Lease principal and TRA remain below CFO; transaction costs remain cash uses. Formula: sum(upside_2027q2_cash_interest, upside_2027q2_cash_tax, upside_2027q2_wc_use, upside_2027q2_transaction).
Operating cash flow proxy upside_2027q2_cfo	2027Q2 / upside	166.20 USD_millions	derived: Does not repeat noncash investment marks as cash generation. Formula: subtract(upside_2027q2_adj_ebitda, upside_2027q2_cfo_uses).
Existing fleet and other PP&E cash upside_2027q2_maintenance_capex	2027Q2 / upside	125.00 USD_millions	assumption: Desk assumption; not company guidance.
Power engines deposits and buildout cash upside_2027q2_power_capex	2027Q2 / upside	250.00 USD_millions	assumption: Scenario allocation within aggregate capex; redacted equipment milestones prevent an exact contractual schedule.
Gross cash PP&E and deposits upside_2027q2_capex	2027Q2 / upside	375.00 USD_millions	derived: Includes deposits once; not an additional deduction after capex. Formula: sum(upside_2027q2_maintenance_capex, upside_2027q2_power_capex).
CFO less gross PP&E upside_2027q2_fcf	2027Q2 / upside	-208.80 USD_millions	derived: No disposal proceeds netted against cash PP&E. Formula: subtract(upside_2027q2_cfo, upside_2027q2_capex).
Finance-lease principal upside_2027q2_lease_principal	2027Q2 / upside	19.00 USD_millions	assumption: Desk allocation informed by remaining 2026 gross lease payments $79.705M and 2027 $87.432M, including interest. Interest is separately in CFO.
TRA cash payment upside_2027q2_tra	2027Q2 / upside	0.00 USD_millions	assumption: Desk cash allowance, not a conclusion that the $66.870M liability is extinguished.
Common dividends and equivalents upside_2027q2_dividends	2027Q2 / upside	15.10 USD_millions	assumption: Approximately $0.09 per share quarterly, including allowance for award equivalents; future board declarations required.
Small-loan principal upside_2027q2_debt_principal	2027Q2 / upside	2.98 USD_millions	assumption: Remainder 2026 $4.961M and 2027 $11.906M disclosed debt maturities, evenly allocated.
Employee award withholding upside_2027q2_awards	2027Q2 / upside	3.00 USD_millions	assumption: Desk assumption; not company guidance.
Equity investment purchases upside_2027q2_investments	2027Q2 / upside	7.00 USD_millions	assumption: Desk assumption; not company guidance.
Additional cash uses upside_2027q2_claims	2027Q2 / upside	47.08 USD_millions	derived: Financing/equity-investment outflows; no new borrowing included. Formula: sum(upside_2027q2_lease_principal, upside_2027q2_tra, upside_2027q2_dividends, upside_2027q2_debt_principal, upside_2027q2_awards, upside_2027q2_investments).
Cash after investment and capital claims upside_2027q2_cash_after_claims	2027Q2 / upside	-255.88 USD_millions	derived: Before new financing, acquisitions, optional buybacks and asset-sale proceeds. Formula: subtract(upside_2027q2_fcf, upside_2027q2_claims).
Activity versus Q2 upside_2027q3_activity	2027Q3 / upside	122.0% ratio	assumption: Desk assumption; not company guidance.
Pricing/mix versus Q2 upside_2027q3_price	2027Q3 / upside	103.0% ratio	assumption: Desk assumption; not company guidance.
Existing business revenue upside_2027q3_existing_revenue	2027Q3 / upside	1,493.59 USD_millions	derived: Consolidated anchor already includes existing power-related activity. Formula: multiply(q2_revenue, upside_2027q3_activity, upside_2027q3_price).
Incremental new-project power revenue upside_2027q3_new_power	2027Q3 / upside	10.00 USD_millions	assumption: Desk revenue sensitivity only; no customer contract revenue per MW was disclosed for PowerBridge.
Consolidated revenue upside_2027q3_revenue	2027Q3 / upside	1,503.59 USD_millions	derived: No revenue from buying engines or announcing capacity. Formula: sum(upside_2027q3_existing_revenue, upside_2027q3_new_power).
Service contribution margin upside_2027q3_service_margin	2027Q3 / upside	19.5% ratio	assumption: Desk assumption; not company guidance.
Existing-business contribution upside_2027q3_existing_contribution	2027Q3 / upside	291.25 USD_millions	derived: Cost of services excludes D&A. Formula: multiply(upside_2027q3_existing_revenue, upside_2027q3_service_margin).
Incremental power contribution margin upside_2027q3_power_margin	2027Q3 / upside	32.0% ratio	assumption: Desk assumption; not company guidance.
New power contribution upside_2027q3_power_contribution	2027Q3 / upside	3.20 USD_millions	derived: Incremental modeled operations only. Formula: multiply(upside_2027q3_new_power, upside_2027q3_power_margin).
Service contribution before overhead and D&A upside_2027q3_contribution	2027Q3 / upside	294.45 USD_millions	derived: Company does not report these as separate historical segments. Formula: sum(upside_2027q3_existing_contribution, upside_2027q3_power_contribution).
G&A excluding stock compensation upside_2027q3_cash_overhead	2027Q3 / upside	66.00 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy upside_2027q3_adj_ebitda	2027Q3 / upside	228.45 USD_millions	derived: Excludes equity compensation, D&A and modeled nonrecurring transaction costs; ordinary operating costs remain. Formula: subtract(upside_2027q3_contribution, upside_2027q3_cash_overhead).
Stock compensation expense upside_2027q3_sbc	2027Q3 / upside	11.60 USD_millions	assumption: Desk assumption; not company guidance.
Depreciation depletion and amortization upside_2027q3_da	2027Q3 / upside	128.00 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and other operating expense upside_2027q3_transaction	2027Q3 / upside	2.00 USD_millions	assumption: Desk assumption; not company guidance.
D&A, equity expense and transaction costs upside_2027q3_gaap_deductions	2027Q3 / upside	141.60 USD_millions	derived: No investment fair-value gains in operating earnings. Formula: sum(upside_2027q3_sbc, upside_2027q3_da, upside_2027q3_transaction).
GAAP operating income proxy upside_2027q3_operating_income	2027Q3 / upside	86.85 USD_millions	derived: Assumes no net disposal gain/loss or impairment; separate downside risks. Formula: subtract(upside_2027q3_adj_ebitda, upside_2027q3_gaap_deductions).
Cash interest net of investment income upside_2027q3_cash_interest	2027Q3 / upside	6.00 USD_millions	assumption: Small-loan and finance-lease interest, less cash yield; convertible notes have no regular coupon.
Cash income taxes upside_2027q3_cash_tax	2027Q3 / upside	20.00 USD_millions	assumption: Desk assumption; not company guidance.
Net operating working-capital use upside_2027q3_wc_use	2027Q3 / upside	30.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash interest taxes working capital and transaction costs upside_2027q3_cfo_uses	2027Q3 / upside	58.00 USD_millions	derived: Lease principal and TRA remain below CFO; transaction costs remain cash uses. Formula: sum(upside_2027q3_cash_interest, upside_2027q3_cash_tax, upside_2027q3_wc_use, upside_2027q3_transaction).
Operating cash flow proxy upside_2027q3_cfo	2027Q3 / upside	170.45 USD_millions	derived: Does not repeat noncash investment marks as cash generation. Formula: subtract(upside_2027q3_adj_ebitda, upside_2027q3_cfo_uses).
Existing fleet and other PP&E cash upside_2027q3_maintenance_capex	2027Q3 / upside	125.00 USD_millions	assumption: Desk assumption; not company guidance.
Power engines deposits and buildout cash upside_2027q3_power_capex	2027Q3 / upside	250.00 USD_millions	assumption: Scenario allocation within aggregate capex; redacted equipment milestones prevent an exact contractual schedule.
Gross cash PP&E and deposits upside_2027q3_capex	2027Q3 / upside	375.00 USD_millions	derived: Includes deposits once; not an additional deduction after capex. Formula: sum(upside_2027q3_maintenance_capex, upside_2027q3_power_capex).
CFO less gross PP&E upside_2027q3_fcf	2027Q3 / upside	-204.55 USD_millions	derived: No disposal proceeds netted against cash PP&E. Formula: subtract(upside_2027q3_cfo, upside_2027q3_capex).
Finance-lease principal upside_2027q3_lease_principal	2027Q3 / upside	19.00 USD_millions	assumption: Desk allocation informed by remaining 2026 gross lease payments $79.705M and 2027 $87.432M, including interest. Interest is separately in CFO.
TRA cash payment upside_2027q3_tra	2027Q3 / upside	0.00 USD_millions	assumption: Desk cash allowance, not a conclusion that the $66.870M liability is extinguished.
Common dividends and equivalents upside_2027q3_dividends	2027Q3 / upside	15.10 USD_millions	assumption: Approximately $0.09 per share quarterly, including allowance for award equivalents; future board declarations required.
Small-loan principal upside_2027q3_debt_principal	2027Q3 / upside	2.98 USD_millions	assumption: Remainder 2026 $4.961M and 2027 $11.906M disclosed debt maturities, evenly allocated.
Employee award withholding upside_2027q3_awards	2027Q3 / upside	3.00 USD_millions	assumption: Desk assumption; not company guidance.
Equity investment purchases upside_2027q3_investments	2027Q3 / upside	7.00 USD_millions	assumption: Desk assumption; not company guidance.
Additional cash uses upside_2027q3_claims	2027Q3 / upside	47.08 USD_millions	derived: Financing/equity-investment outflows; no new borrowing included. Formula: sum(upside_2027q3_lease_principal, upside_2027q3_tra, upside_2027q3_dividends, upside_2027q3_debt_principal, upside_2027q3_awards, upside_2027q3_investments).
Cash after investment and capital claims upside_2027q3_cash_after_claims	2027Q3 / upside	-251.63 USD_millions	derived: Before new financing, acquisitions, optional buybacks and asset-sale proceeds. Formula: subtract(upside_2027q3_fcf, upside_2027q3_claims).
Activity versus Q2 upside_2027q4_activity	2027Q4 / upside	120.0% ratio	assumption: Desk assumption; not company guidance.
Pricing/mix versus Q2 upside_2027q4_price	2027Q4 / upside	103.0% ratio	assumption: Desk assumption; not company guidance.
Existing business revenue upside_2027q4_existing_revenue	2027Q4 / upside	1,469.10 USD_millions	derived: Consolidated anchor already includes existing power-related activity. Formula: multiply(q2_revenue, upside_2027q4_activity, upside_2027q4_price).
Incremental new-project power revenue upside_2027q4_new_power	2027Q4 / upside	45.00 USD_millions	assumption: Desk revenue sensitivity only; no customer contract revenue per MW was disclosed for PowerBridge.
Consolidated revenue upside_2027q4_revenue	2027Q4 / upside	1,514.10 USD_millions	derived: No revenue from buying engines or announcing capacity. Formula: sum(upside_2027q4_existing_revenue, upside_2027q4_new_power).
Service contribution margin upside_2027q4_service_margin	2027Q4 / upside	19.5% ratio	assumption: Desk assumption; not company guidance.
Existing-business contribution upside_2027q4_existing_contribution	2027Q4 / upside	286.48 USD_millions	derived: Cost of services excludes D&A. Formula: multiply(upside_2027q4_existing_revenue, upside_2027q4_service_margin).
Incremental power contribution margin upside_2027q4_power_margin	2027Q4 / upside	32.0% ratio	assumption: Desk assumption; not company guidance.
New power contribution upside_2027q4_power_contribution	2027Q4 / upside	14.40 USD_millions	derived: Incremental modeled operations only. Formula: multiply(upside_2027q4_new_power, upside_2027q4_power_margin).
Service contribution before overhead and D&A upside_2027q4_contribution	2027Q4 / upside	300.88 USD_millions	derived: Company does not report these as separate historical segments. Formula: sum(upside_2027q4_existing_contribution, upside_2027q4_power_contribution).
G&A excluding stock compensation upside_2027q4_cash_overhead	2027Q4 / upside	67.50 USD_millions	assumption: Desk assumption; not company guidance.
Adjusted EBITDA proxy upside_2027q4_adj_ebitda	2027Q4 / upside	233.38 USD_millions	derived: Excludes equity compensation, D&A and modeled nonrecurring transaction costs; ordinary operating costs remain. Formula: subtract(upside_2027q4_contribution, upside_2027q4_cash_overhead).
Stock compensation expense upside_2027q4_sbc	2027Q4 / upside	12.00 USD_millions	assumption: Desk assumption; not company guidance.
Depreciation depletion and amortization upside_2027q4_da	2027Q4 / upside	131.00 USD_millions	assumption: Desk assumption; not company guidance.
Transaction and other operating expense upside_2027q4_transaction	2027Q4 / upside	2.00 USD_millions	assumption: Desk assumption; not company guidance.
D&A, equity expense and transaction costs upside_2027q4_gaap_deductions	2027Q4 / upside	145.00 USD_millions	derived: No investment fair-value gains in operating earnings. Formula: sum(upside_2027q4_sbc, upside_2027q4_da, upside_2027q4_transaction).
GAAP operating income proxy upside_2027q4_operating_income	2027Q4 / upside	88.38 USD_millions	derived: Assumes no net disposal gain/loss or impairment; separate downside risks. Formula: subtract(upside_2027q4_adj_ebitda, upside_2027q4_gaap_deductions).
Cash interest net of investment income upside_2027q4_cash_interest	2027Q4 / upside	6.00 USD_millions	assumption: Small-loan and finance-lease interest, less cash yield; convertible notes have no regular coupon.
Cash income taxes upside_2027q4_cash_tax	2027Q4 / upside	22.00 USD_millions	assumption: Desk assumption; not company guidance.
Net operating working-capital use upside_2027q4_wc_use	2027Q4 / upside	15.00 USD_millions	assumption: Desk assumption; not company guidance.
Cash interest taxes working capital and transaction costs upside_2027q4_cfo_uses	2027Q4 / upside	45.00 USD_millions	derived: Lease principal and TRA remain below CFO; transaction costs remain cash uses. Formula: sum(upside_2027q4_cash_interest, upside_2027q4_cash_tax, upside_2027q4_wc_use, upside_2027q4_transaction).
Operating cash flow proxy upside_2027q4_cfo	2027Q4 / upside	188.38 USD_millions	derived: Does not repeat noncash investment marks as cash generation. Formula: subtract(upside_2027q4_adj_ebitda, upside_2027q4_cfo_uses).
Existing fleet and other PP&E cash upside_2027q4_maintenance_capex	2027Q4 / upside	125.00 USD_millions	assumption: Desk assumption; not company guidance.
Power engines deposits and buildout cash upside_2027q4_power_capex	2027Q4 / upside	220.00 USD_millions	assumption: Scenario allocation within aggregate capex; redacted equipment milestones prevent an exact contractual schedule.
Gross cash PP&E and deposits upside_2027q4_capex	2027Q4 / upside	345.00 USD_millions	derived: Includes deposits once; not an additional deduction after capex. Formula: sum(upside_2027q4_maintenance_capex, upside_2027q4_power_capex).
CFO less gross PP&E upside_2027q4_fcf	2027Q4 / upside	-156.62 USD_millions	derived: No disposal proceeds netted against cash PP&E. Formula: subtract(upside_2027q4_cfo, upside_2027q4_capex).
Finance-lease principal upside_2027q4_lease_principal	2027Q4 / upside	19.00 USD_millions	assumption: Desk allocation informed by remaining 2026 gross lease payments $79.705M and 2027 $87.432M, including interest. Interest is separately in CFO.
TRA cash payment upside_2027q4_tra	2027Q4 / upside	0.00 USD_millions	assumption: Desk cash allowance, not a conclusion that the $66.870M liability is extinguished.
Common dividends and equivalents upside_2027q4_dividends	2027Q4 / upside	15.10 USD_millions	assumption: Approximately $0.09 per share quarterly, including allowance for award equivalents; future board declarations required.
Small-loan principal upside_2027q4_debt_principal	2027Q4 / upside	2.98 USD_millions	assumption: Remainder 2026 $4.961M and 2027 $11.906M disclosed debt maturities, evenly allocated.
Employee award withholding upside_2027q4_awards	2027Q4 / upside	3.00 USD_millions	assumption: Desk assumption; not company guidance.
Equity investment purchases upside_2027q4_investments	2027Q4 / upside	7.00 USD_millions	assumption: Desk assumption; not company guidance.
Additional cash uses upside_2027q4_claims	2027Q4 / upside	47.08 USD_millions	derived: Financing/equity-investment outflows; no new borrowing included. Formula: sum(upside_2027q4_lease_principal, upside_2027q4_tra, upside_2027q4_dividends, upside_2027q4_debt_principal, upside_2027q4_awards, upside_2027q4_investments).
Cash after investment and capital claims upside_2027q4_cash_after_claims	2027Q4 / upside	-203.70 USD_millions	derived: Before new financing, acquisitions, optional buybacks and asset-sale proceeds. Formula: subtract(upside_2027q4_fcf, upside_2027q4_claims).
Consolidated revenue ($M) upside_fy2026_revenue	FY2026 / upside	4,805.20 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_revenue, upside_2026q3_revenue, upside_2026q4_revenue).
GAAP operating income proxy ($M) upside_fy2026_operating_income	FY2026 / upside	158.20 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_operating_income, upside_2026q3_operating_income, upside_2026q4_operating_income).
Adjusted EBITDA proxy ($M) upside_fy2026_adj_ebitda	FY2026 / upside	661.60 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_adj_ebitda, upside_2026q3_adj_ebitda, upside_2026q4_adj_ebitda).
Operating cash flow proxy ($M) upside_fy2026_cfo	FY2026 / upside	444.05 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cfo, upside_2026q3_cfo, upside_2026q4_cfo).
Gross cash PP&E and deposits ($M) upside_fy2026_capex	FY2026 / upside	960.86 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_capex, upside_2026q3_capex, upside_2026q4_capex).
CFO less gross cash PP&E ($M) upside_fy2026_fcf	FY2026 / upside	-516.81 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_fcf, upside_2026q3_fcf, upside_2026q4_fcf).
Finance-lease principal ($M) upside_fy2026_lease_principal	FY2026 / upside	118.34 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_lease_principal, upside_2026q3_lease_principal, upside_2026q4_lease_principal).
TRA payments ($M) upside_fy2026_tra	FY2026 / upside	7.89 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_tra, upside_2026q3_tra, upside_2026q4_tra).
Common dividends and equivalents ($M) upside_fy2026_dividends	FY2026 / upside	60.52 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_dividends, upside_2026q3_dividends, upside_2026q4_dividends).
Cash after investment and capital claims ($M) upside_fy2026_cash_after_claims	FY2026 / upside	-756.32 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(h1_cash_after_claims, upside_2026q3_cash_after_claims, upside_2026q4_cash_after_claims).
Consolidated revenue ($M) upside_fy2027_revenue	FY2027 / upside	5,845.72 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_revenue, upside_2027q2_revenue, upside_2027q3_revenue, upside_2027q4_revenue).
GAAP operating income proxy ($M) upside_fy2027_operating_income	FY2027 / upside	326.19 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_operating_income, upside_2027q2_operating_income, upside_2027q3_operating_income, upside_2027q4_operating_income).
Adjusted EBITDA proxy ($M) upside_fy2027_adj_ebitda	FY2027 / upside	885.79 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_adj_ebitda, upside_2027q2_adj_ebitda, upside_2027q3_adj_ebitda, upside_2027q4_adj_ebitda).
Operating cash flow proxy ($M) upside_fy2027_cfo	FY2027 / upside	652.79 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_cfo, upside_2027q2_cfo, upside_2027q3_cfo, upside_2027q4_cfo).
Gross cash PP&E and deposits ($M) upside_fy2027_capex	FY2027 / upside	1,450.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_capex, upside_2027q2_capex, upside_2027q3_capex, upside_2027q4_capex).
CFO less gross cash PP&E ($M) upside_fy2027_fcf	FY2027 / upside	-797.21 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_fcf, upside_2027q2_fcf, upside_2027q3_fcf, upside_2027q4_fcf).
Finance-lease principal ($M) upside_fy2027_lease_principal	FY2027 / upside	76.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_lease_principal, upside_2027q2_lease_principal, upside_2027q3_lease_principal, upside_2027q4_lease_principal).
TRA payments ($M) upside_fy2027_tra	FY2027 / upside	4.00 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_tra, upside_2027q2_tra, upside_2027q3_tra, upside_2027q4_tra).
Common dividends and equivalents ($M) upside_fy2027_dividends	FY2027 / upside	60.40 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_dividends, upside_2027q2_dividends, upside_2027q3_dividends, upside_2027q4_dividends).
Cash after investment and capital claims ($M) upside_fy2027_cash_after_claims	FY2027 / upside	-1,000.52 USD_millions	derived: Reported year-to-date amount plus remaining forecast quarters, or sum of four forecast quarters. Formula: sum(upside_2027q1_cash_after_claims, upside_2027q2_cash_after_claims, upside_2027q3_cash_after_claims, upside_2027q4_cash_after_claims).

Model boundaries

Consolidated activity/pricing factors are analytical sensitivities, not a disclosed fleet count, reported segment revenue or company revenue guidance. No independent 2027 revenue guidance is asserted.
New power revenue is incremental to existing consolidated activity. The PowerBridge initial greater-than-300MW phase targets late 2027; no full-year revenue is booked from its announcement.
Equipment commitments are supplier purchases, not customer backlog. The $493.1554M Jenbacher contract is within the equipment program, not added to the $1.3B aggregate. July CAT $801M is a separate contract. Payment milestones are partly redacted.
Cash PP&E is a gross investing outflow. Management reported capex nets disposal proceeds; the two measures differ. Deposits and future fleet finance leases can make cash needs differ from accounting depreciation.
Forecast dividends, TRA and investment spending are explicit desk cash assumptions, not board commitments or a full liabilities roll-forward. New financing, asset-sale proceeds and optional buybacks are outside the cash-after-claims measure.
Convertible principal totals $1.295B at zero regular coupon, due 2031/2032 beyond the horizon. Zero coupon does not remove future repayment, conversion/dilution or capped-call counterparty risk. No fully diluted EPS or valuation is supplied.

The cash cost of moving from frac services into power

Research reviewed 2026-09-19

Can the existing service business fund the power-equipment program before new sites produce material cash?

H1 revenue was $2.210B and adjusted EBITDA $277.0M, but CFO was $141.4M against gross PP&E cash spending of $380.9M. Company reported capex of $354.9M nets $26.0M asset-sale proceeds. Another $48.3M finance-lease principal, $7.9M TRA and $30.3M dividends sit below CFO. Cash of $555.4M follows $1.295B convertible issuance and $186.5M capped-call spending; the notes have zero regular coupon and mature in 2031/2032. June remaining power-equipment commitments were approximately $1.1B, with a separate $801M CAT contract signed July 22. Capital deposits already totaled $248.0M. The September 18-filed Jenbacher agreement has original price $493.1554M for 2028 delivery; it is part of the broader program, and its May amendment changes payment timing, with percentages redacted. PowerBridge initial capacity targets late 2027. Noncash investment gains of $60.2M supported H1 net income but are not operating cash.

The competing explanation

Frac cash generation may recover while power investment still consumes more capital than it produces. Engine commitments carry currency, tariff and delivery exposure. Site readiness, grid/fuel access, commercial terms and customer acceptance can delay monetization beyond equipment payments.

Risks to track

Producer activity and service pricing are cyclical.
Power buildouts need customers, fuel and site execution in addition to purchased engines.
Supplier milestone percentages are partly redacted and the equipment program extends through 2030.
Leases, TRA, small-loan principal and dividend choices use cash beyond PP&E.
Zero-coupon convertibles still create repayment and dilution risk.
Investment marks can move net income without improving service economics.

Next checkpoints

Power commitments and customers · Next quarterly filing and contract announcements (estimated). Reconcile deposits, remaining commitments and actual contracted cash terms; do not count equipment orders as backlog.
Frac cash generation · Each earnings release (estimated). Compare consolidated margins and cash conversion, including receivables and unbilled revenue.
Deployment timing · Late 2027 company target (estimated). Check the first PowerBridge phase against actual deliveries and acceptance.

Data coverage and open work

Consolidated activity/pricing factors are analytical sensitivities, not a disclosed fleet count, reported segment revenue or company revenue guidance. No independent 2027 revenue guidance is asserted.
New power revenue is incremental to existing consolidated activity. The PowerBridge initial greater-than-300MW phase targets late 2027; no full-year revenue is booked from its announcement.
Equipment commitments are supplier purchases, not customer backlog. The $493.1554M Jenbacher contract is within the equipment program, not added to the $1.3B aggregate. July CAT $801M is a separate contract. Payment milestones are partly redacted.
Cash PP&E is a gross investing outflow. Management reported capex nets disposal proceeds; the two measures differ. Deposits and future fleet finance leases can make cash needs differ from accounting depreciation.
Forecast dividends, TRA and investment spending are explicit desk cash assumptions, not board commitments or a full liabilities roll-forward. New financing, asset-sale proceeds and optional buybacks are outside the cash-after-claims measure.
Convertible principal totals $1.295B at zero regular coupon, due 2031/2032 beyond the horizon. Zero coupon does not remove future repayment, conversion/dilution or capped-call counterparty risk. No fully diluted EPS or valuation is supplied.

This review: Completed consolidated service and power-funding model with gross capex, leases, TRA and zero-coupon note context.

What the memory says

State as of the 2026-09-18 close: in a 120-day downtrend, below its 200-day, off the 52-week high, with overhead supply, ordinary volume, closed mid-range, and some peers moving

300 similar days

Vs the market, in points	Low	Middle	High	Share up
1 session	-1.8	+0.0	+2.4	50%
5 sessions	-4.5	+0.3	+5.7	56%
10 sessions	-6.3	-0.0	+7.7	50%

Historical distributions of what followed similar states, measured before today's news. Not a forecast; no side.

Notes on this name

No published notes on this name yet.

Scorecard: 0 notes scored

Next report: 2026-10-21 (source: estimated from 10-Q filed 2026-07-23 plus 90 days)

Provenance

[1] reported: Revenues, accession 0001694028-25-000115, 10-Q filed 2025-10-17; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[2] derived: Revenues, accession 0001694028-26-000006, 10-K filed 2026-02-02; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[3] reported: Revenues, accession 0001694028-26-000023, 10-Q filed 2026-04-23; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[4] reported: Revenues, accession 0001694028-26-000039, 10-Q filed 2026-07-23; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[5] reported: OperatingIncomeLoss, accession 0001694028-25-000115, 10-Q filed 2025-10-17; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[6] derived: OperatingIncomeLoss, accession 0001694028-26-000006, 10-K filed 2026-02-02; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[7] reported: OperatingIncomeLoss, accession 0001694028-26-000023, 10-Q filed 2026-04-23; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[8] reported: OperatingIncomeLoss, accession 0001694028-26-000039, 10-Q filed 2026-07-23; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[9] reported: NetIncomeLoss, accession 0001694028-25-000115, 10-Q filed 2025-10-17; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[10] derived: NetIncomeLoss, accession 0001694028-26-000006, 10-K filed 2026-02-02; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[11] reported: NetIncomeLoss, accession 0001694028-26-000023, 10-Q filed 2026-04-23; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[12] reported: NetIncomeLoss, accession 0001694028-26-000039, 10-Q filed 2026-07-23; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[13] reported: EarningsPerShareDiluted, accession 0001694028-25-000115, 10-Q filed 2025-10-17; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[14] reported: EarningsPerShareDiluted, accession 0001694028-26-000023, 10-Q filed 2026-04-23; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[15] reported: EarningsPerShareDiluted, accession 0001694028-26-000039, 10-Q filed 2026-07-23; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[16] reported: WeightedAverageNumberOfDilutedSharesOutstanding, accession 0001694028-25-000115, 10-Q filed 2025-10-17; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[17] reported: WeightedAverageNumberOfDilutedSharesOutstanding, accession 0001694028-26-000023, 10-Q filed 2026-04-23; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[18] reported: WeightedAverageNumberOfDilutedSharesOutstanding, accession 0001694028-26-000039, 10-Q filed 2026-07-23; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[19] reported: CashAndCashEquivalentsAtCarryingValue, accession 0001694028-24-000112, 10-Q filed 2024-10-17; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[20] reported: CashAndCashEquivalentsAtCarryingValue, accession 0001694028-26-000006, 10-K filed 2026-02-02; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[21] reported: CashAndCashEquivalentsAtCarryingValue, accession 0001694028-25-000083, 10-Q filed 2025-04-17; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[22] reported: CashAndCashEquivalentsAtCarryingValue, accession 0001694028-25-000100, 10-Q filed 2025-07-25; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[23] reported: CashAndCashEquivalentsAtCarryingValue, accession 0001694028-25-000115, 10-Q filed 2025-10-17; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[24] reported: CashAndCashEquivalentsAtCarryingValue, accession 0001694028-26-000039, 10-Q filed 2026-07-23; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[25] reported: CashAndCashEquivalentsAtCarryingValue, accession 0001694028-26-000023, 10-Q filed 2026-04-23; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[26] reported: LongTermDebtNoncurrent, accession 0001694028-24-000112, 10-Q filed 2024-10-17; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[27] reported: LongTermDebtNoncurrent, accession 0001694028-26-000006, 10-K filed 2026-02-02; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[28] reported: LongTermDebtNoncurrent, accession 0001694028-25-000083, 10-Q filed 2025-04-17; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[29] reported: LongTermDebtNoncurrent, accession 0001694028-25-000100, 10-Q filed 2025-07-25; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[30] reported: LongTermDebtNoncurrent, accession 0001694028-25-000115, 10-Q filed 2025-10-17; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[31] reported: LongTermDebtNoncurrent, accession 0001694028-26-000039, 10-Q filed 2026-07-23; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[32] reported: LongTermDebtNoncurrent, accession 0001694028-26-000023, 10-Q filed 2026-04-23; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[33] derived: NetCashProvidedByUsedInOperatingActivities, accession 0001694028-25-000115, 10-Q filed 2025-10-17; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[34] derived: NetCashProvidedByUsedInOperatingActivities, accession 0001694028-26-000006, 10-K filed 2026-02-02; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[35] reported: NetCashProvidedByUsedInOperatingActivities, accession 0001694028-26-000023, 10-Q filed 2026-04-23; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json
[36] derived: NetCashProvidedByUsedInOperatingActivities, accession 0001694028-26-000039, 10-Q filed 2026-07-23; retrieved 2026-09-19T22:22:01+00:00 from https://data.sec.gov/api/xbrl/companyfacts/CIK0001694028.json

What the author read

July 23 filing, cash flow, equipment commitments and notes · retrieved 2026-09-19
Q2 earnings and PowerBridge timing · retrieved 2026-09-19
September 18-filed original Jenbacher equipment contract · retrieved 2026-09-19
Filed May amendment moves notice-to-proceed milestone · retrieved 2026-09-19

Compiled 2026-09-19T22:22:02.719991+00:00 · authored abf4c6a9b749 · generated b68fd39f9075 · JSON

Daily notes · Scorecard