2014 Q4 Form 10-Q Financial Statement
#000110465914080963 Filed on November 14, 2014
Income Statement
| Concept | 2014 Q4 | 2014 Q3 | 2014 Q2 |
|---|---|---|---|
| Revenue | $21.50M | $19.88M | $17.32M |
| YoY Change | 168.75% | 329.69% | 131.03% |
| Cost Of Revenue | $23.10M | $9.217M | $5.908M |
| YoY Change | 106.25% | 17.99% | 62.64% |
| Gross Profit | -$1.700M | $10.66M | $11.41M |
| YoY Change | -45.16% | -434.8% | 195.31% |
| Gross Profit Margin | -7.91% | 53.64% | 65.89% |
| Selling, General & Admin | $8.800M | $4.951M | $4.831M |
| YoY Change | 151.43% | 79.82% | 50.26% |
| % of Gross Profit | 46.42% | 42.33% | |
| Research & Development | $2.200M | $1.644M | $1.398M |
| YoY Change | 175.0% | 113.73% | 69.77% |
| % of Gross Profit | 15.41% | 12.25% | |
| Depreciation & Amortization | $1.120M | $1.110M | $1.080M |
| YoY Change | 6.67% | 5.71% | 11.34% |
| % of Gross Profit | 10.41% | 9.46% | |
| Operating Expenses | $11.60M | $6.594M | $6.230M |
| YoY Change | 141.67% | 87.23% | 54.24% |
| Operating Profit | -$13.30M | -$10.70M | -$6.642M |
| YoY Change | 68.35% | 33.69% | 0.39% |
| Interest Expense | $6.100M | $1.000M | $9.500M |
| YoY Change | -129.19% | -112.05% | -451.85% |
| % of Operating Profit | |||
| Other Income/Expense, Net | |||
| YoY Change | |||
| Pretax Income | -$7.200M | -$9.676M | $3.900M |
| YoY Change | -75.09% | -40.66% | -141.94% |
| Income Tax | $0.00 | -$324.7K | $0.00 |
| % Of Pretax Income | 0.0% | ||
| Net Earnings | -$7.200M | -$9.351M | $3.877M |
| YoY Change | -75.09% | -41.17% | -141.59% |
| Net Earnings / Revenue | -33.49% | -47.03% | 22.38% |
| Basic Earnings Per Share | $0.02 | ||
| Diluted Earnings Per Share | -$41.55K | -$55.42K | $0.02 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 173.1M shares | 167.3M shares | 159.9M shares |
| Diluted Shares Outstanding | 176.2M shares |
Balance Sheet
| Concept | 2014 Q4 | 2014 Q3 | 2014 Q2 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $146.2M | $156.5M | $168.6M |
| YoY Change | 2824.0% | 1322.73% | 2178.38% |
| Cash & Equivalents | $146.2M | $156.5M | $168.6M |
| Short-Term Investments | |||
| Other Short-Term Assets | $5.700M | $6.000M | $5.100M |
| YoY Change | 200.0% | 185.71% | 155.0% |
| Inventory | $24.70M | $21.93M | $19.76M |
| Prepaid Expenses | |||
| Receivables | $16.10M | $15.00M | $16.50M |
| Other Receivables | $0.00 | $0.00 | $0.00 |
| Total Short-Term Assets | $192.7M | $199.5M | $209.9M |
| YoY Change | 712.63% | 634.7% | 841.37% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $7.200M | $5.590M | $5.285M |
| YoY Change | 36.42% | -3.74% | -39.95% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | $2.099M | $2.707M | |
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $2.200M | $2.100M | $500.0K |
| YoY Change | 340.0% | 320.0% | -37.5% |
| Total Long-Term Assets | $11.50M | $12.34M | $11.18M |
| YoY Change | -1.22% | -4.22% | -20.69% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $192.7M | $199.5M | $209.9M |
| Total Long-Term Assets | $11.50M | $12.34M | $11.18M |
| Total Assets | $204.2M | $211.8M | $221.1M |
| YoY Change | 477.56% | 429.1% | 507.44% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $10.20M | $7.903M | $9.303M |
| YoY Change | 229.63% | 91.39% | 181.91% |
| Accrued Expenses | $8.700M | $5.763M | $2.791M |
| YoY Change | 183.5% | 210.52% | 99.34% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Long-Term Debt Due | $600.0K | $800.0K | $800.0K |
| YoY Change | -14.29% | 14.29% | 14.29% |
| Total Short-Term Liabilities | $25.70M | $21.88M | $19.49M |
| YoY Change | 103.92% | 74.1% | 74.03% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $2.400M | $2.400M | $2.700M |
| YoY Change | -22.58% | -27.27% | -22.86% |
| Other Long-Term Liabilities | $16.60M | $408.8K | $1.202M |
| YoY Change | 2069.14% | -48.55% | -90.23% |
| Total Long-Term Liabilities | $19.00M | $408.8K | $1.202M |
| YoY Change | 2382.75% | -48.55% | -92.39% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $25.70M | $21.88M | $19.49M |
| Total Long-Term Liabilities | $19.00M | $408.8K | $1.202M |
| Total Liabilities | $44.70M | $46.81M | $47.85M |
| YoY Change | -12.11% | 32.37% | 77.23% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$930.9M | -$921.5M | |
| YoY Change | 13.45% | ||
| Common Stock | $1.735M | $1.674M | |
| YoY Change | -99.79% | ||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | $2.572M | $2.122M | |
| YoY Change | 65.66% | ||
| Treasury Stock Shares | 362.2K shares | 282.3K shares | |
| Shareholders Equity | $159.4M | $163.8M | $170.9M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $204.2M | $211.8M | $221.1M |
| YoY Change | 477.56% | 429.1% | 507.44% |
Cashflow Statement
| Concept | 2014 Q4 | 2014 Q3 | 2014 Q2 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$7.200M | -$9.351M | $3.877M |
| YoY Change | -75.09% | -41.17% | -141.59% |
| Depreciation, Depletion And Amortization | $1.120M | $1.110M | $1.080M |
| YoY Change | 6.67% | 5.71% | 11.34% |
| Cash From Operating Activities | -$9.750M | -$11.10M | -$11.04M |
| YoY Change | 9.06% | 58.35% | 120.8% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$210.0K | -$680.0K | -$230.0K |
| YoY Change | -800.0% | 871.43% | 228.57% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $0.00 | $10.00K | $440.0K |
| YoY Change | -100.0% | -86.63% | |
| Cash From Investing Activities | -$220.0K | -$670.0K | $210.0K |
| YoY Change | -466.67% | 857.14% | -93.48% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | $116.4M | ||
| YoY Change | |||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | -290.0K | -390.0K | 116.2M |
| YoY Change | -109.7% | -103.67% | 2377.61% |
| NET CHANGE | |||
| Cash From Operating Activities | -9.750M | -11.10M | -11.04M |
| Cash From Investing Activities | -220.0K | -670.0K | 210.0K |
| Cash From Financing Activities | -290.0K | -390.0K | 116.2M |
| Net Change In Cash | -10.26M | -12.16M | 105.4M |
| YoY Change | 74.19% | -442.54% | 3520.96% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$9.750M | -$11.10M | -$11.04M |
| Capital Expenditures | -$210.0K | -$680.0K | -$230.0K |
| Free Cash Flow | -$9.540M | -$10.42M | -$10.81M |
| YoY Change | 6.35% | 50.14% | 119.27% |
Facts In Submission
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|---|---|---|---|---|
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Net Income Loss
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Retained Earnings Accumulated Deficit
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Net Cash Provided By Used In Operating Activities
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Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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Net Working Capital
NetWorkingCapital
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177600000 | USD |
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Net Working Capital
NetWorkingCapital
|
11100000 | USD |
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Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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Stock Issued During Period Shares New Issues
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Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
4000000 | shares |
| CY2014Q1 | plug |
Share Of Common Stock In Each Fixed Combination Of Shares And Warrants Sold
ShareOfCommonStockInEachFixedCombinationOfSharesAndWarrantsSold
|
1 | shares |
| CY2014Q1 | plug |
Warrants To Purchase One Share Of Common Stock In Each Fixed Combination Of Shares And Warrants Sold
WarrantsToPurchaseOneShareOfCommonStockInEachFixedCombinationOfSharesAndWarrantsSold
|
0.40 | shares |
| CY2014Q1 | plug |
Price Fixed Combination Of Shares And Warrants Sold
PriceFixedCombinationOfSharesAndWarrantsSold
|
3.00 | |
| CY2014Q1 | plug |
Proceeds From Issuance Or Sale Of Equity Gross
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|
30000000 | USD |
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Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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Proceeds From Issuance Or Sale Of Equity
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Stock Issued During Period Shares New Issues
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|
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Shares Issued Price Per Share
SharesIssuedPricePerShare
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5.74 | |
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Proceeds From Issuance Of Common Stock Gross
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Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
22600000 | shares |
| CY2014Q2 | us-gaap |
Shares Issued Price Per Share
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Proceeds From Issuance Of Common Stock Gross
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Proceeds From Issuance Of Common Stock
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Use Of Estimates
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<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt; punctuation-wrap: simple;"><b><i><font style="FONT-STYLE: italic; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold;" size="2">Use of Management Estimates:</font></i></b> <font style="FONT-SIZE: 10pt;" size="2">The unaudited condensed interim consolidated financial statements have been prepared in conformity with GAAP, which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</font></p> </div> | ||
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Payments Of Preference Stock Issuance Costs
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Proceeds From Issuance Of Common Stock
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Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
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Stock Issued During Period Value Acquisitions
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|
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Stock Issued During Period Value Stock Options Exercised
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Term Of Extended Warranty Contracts Minimum
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|
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Term Of Extended Warranty Contracts Maximum
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|
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Unbilled Product And Service Revenues
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Unbilled Product And Service Revenues
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Deferred Revenue
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Deferred Revenue
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Business Combination Bargain Purchase Gain Recognized Amount
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Business Acquisitions Pro Forma Revenue
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Business Acquisitions Pro Forma Revenue
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Business Acquisitions Pro Forma Revenue
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Business Acquisitions Pro Forma Net Income Loss
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Business Acquisitions Pro Forma Net Income Loss
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Business Acquisitions Pro Forma Net Income Loss
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Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
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|
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| plug |
Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
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|
-0.54 | ||
| plug |
Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
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|
-0.58 | ||
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Inventory Raw Materials And Supplies Net Of Reserves
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Inventory Work In Process Net Of Reserves
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Inventory Finished Goods Net Of Reserves
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Inventory Net
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Stockholders Equity
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Stockholders Equity
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|
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Common Stock Shares Issued
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|
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Common Stock Shares Issued
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|
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Proceeds From Issuance Of Common Stock
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|
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Stock Issued During Period Value Share Based Compensation
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|
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Stock Issued During Period Value New Issues
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Stock Issued During Period Value Exercise Of Warrants
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|
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Proceeds From Issuance Or Sale Of Equity
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Proceeds From Issuance Of Warrants
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Stock Issued During Period Shares New Issues
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Fair Value Adjustment Of Warrants
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Stock Issued During Period Shares New Issues
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Shares Issued Price Per Share
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|
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Proceeds From Issuance Or Sale Of Equity
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|
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Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
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Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
18910000 | shares |
| CY2013Q1 | plug |
Share Of Common Stock In Each Fixed Combination Of Shares And Warrants Sold
ShareOfCommonStockInEachFixedCombinationOfSharesAndWarrantsSold
|
1 | shares |
| CY2013Q1 | plug |
Warrants To Purchase One Share Of Common Stock In Each Fixed Combination Of Shares And Warrants Sold
WarrantsToPurchaseOneShareOfCommonStockInEachFixedCombinationOfSharesAndWarrantsSold
|
1 | shares |
| CY2013Q1 | plug |
Price Fixed Combination Of Shares And Warrants Sold
PriceFixedCombinationOfSharesAndWarrantsSold
|
0.15 | |
| CY2013Q1 | us-gaap |
Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
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| CY2013Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
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Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
|
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| CY2014Q3 | plug |
Convertible Preferred Stock Conversion Price After Adjustment
ConvertiblePreferredStockConversionPriceAfterAdjustment
|
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Net Income Loss Available To Common Stockholders Basic
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|
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Net Income Loss Available To Common Stockholders Basic
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Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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| CY2013Q3 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
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| CY2014Q3 | plug |
Stock Options Outstanding
StockOptionsOutstanding
|
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| CY2013Q3 | plug |
Stock Options Outstanding
StockOptionsOutstanding
|
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| CY2014Q3 | plug |
Restricted Stock Outstanding
RestrictedStockOutstanding
|
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| CY2014Q3 | plug |
Common Stock Warrants1
CommonStockWarrants1
|
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Finite Lived Intangible Assets Gross
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| CY2013Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
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Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
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| CY2013Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
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| CY2014Q3 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
2098763 | USD |
| CY2013Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
2901595 | USD |
| CY2014Q3 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
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| CY2014Q3 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
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| CY2013Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
5277667 | USD |
| CY2013Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
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| CY2014Q3 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
26632409 | USD |
| CY2013Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
25726628 | USD |
| CY2012Q4 | us-gaap |
Capital Leased Assets Number Of Units
CapitalLeasedAssetsNumberOfUnits
|
255 | item |
| CY2012Q4 | us-gaap |
Capital Leased Assets Number Of Units
CapitalLeasedAssetsNumberOfUnits
|
255 | item |
| plug |
Capital Leases Term Of Agreement
CapitalLeasesTermOfAgreement
|
P3Y | ||
| plug |
Capital Leases Automatic Renewal Term Of Agreement
CapitalLeasesAutomaticRenewalTermOfAgreement
|
P3Y | ||
| CY2014Q3 | us-gaap |
Capital Leased Assets Gross
CapitalLeasedAssetsGross
|
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| CY2013Q4 | us-gaap |
Capital Leased Assets Gross
CapitalLeasedAssetsGross
|
3098921 | USD |
| CY2014Q3 | us-gaap |
Capital Leases Lessee Balance Sheet Assets By Major Class Accumulated Deprecation
CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation
|
1032974 | USD |
| CY2013Q4 | us-gaap |
Capital Leases Lessee Balance Sheet Assets By Major Class Accumulated Deprecation
CapitalLeasesLesseeBalanceSheetAssetsByMajorClassAccumulatedDeprecation
|
645609 | USD |
| CY2014Q3 | us-gaap |
Capital Leases Balance Sheet Assets By Major Class Net
CapitalLeasesBalanceSheetAssetsByMajorClassNet
|
2065947 | USD |
| CY2013Q4 | us-gaap |
Capital Leases Balance Sheet Assets By Major Class Net
CapitalLeasesBalanceSheetAssetsByMajorClassNet
|
2453312 | USD |
| CY2013Q1 | plug |
Financing Transaction Aggregate Sale Price Amount
FinancingTransactionAggregateSalePriceAmount
|
4500000 | USD |
| CY2013Q1 | plug |
Financing Transaction Cash Proceeds
FinancingTransactionCashProceeds
|
2750000 | USD |
| CY2013Q1 | plug |
Financing Transaction Amount Receivable
FinancingTransactionAmountReceivable
|
1750000 | USD |
| us-gaap |
Sale Leaseback Transaction Imputed Interest Rate
SaleLeasebackTransactionImputedInterestRate
|
0.05 | pure | |
| plug |
Financing Transaction Term Of Equal Monthly Installments
FinancingTransactionTermOfEqualMonthlyInstallments
|
P15Y | ||
| CY2014Q3 | plug |
Financing Transaction Equal Monthly Installments Amount
FinancingTransactionEqualMonthlyInstallmentsAmount
|
13839 | USD |
| CY2014Q3 | plug |
Financing Transaction Finance Obligation Amount Current
FinancingTransactionFinanceObligationAmountCurrent
|
64511 | USD |
| CY2013Q4 | plug |
Financing Transaction Finance Obligation Amount Current
FinancingTransactionFinanceObligationAmountCurrent
|
59375 | USD |
| plug |
Sale Leaseback Transaction Lease Term
SaleLeasebackTransactionLeaseTerm
|
P15Y | ||
| CY2014Q3 | plug |
Sale Leaseback Transaction Standby Letter Of Credit Amount
SaleLeasebackTransactionStandbyLetterOfCreditAmount
|
500000 | USD |
| plug |
Sale Leaseback Transaction Standby Letter Of Credit Collateralization Percentage
SaleLeasebackTransactionStandbyLetterOfCreditCollateralizationPercentage
|
1.00 | pure | |
| plug |
Sale Leaseback Transaction Standby Letter Of Credit Renewal Period
SaleLeasebackTransactionStandbyLetterOfCreditRenewalPeriod
|
P10Y | ||
| CY2014Q3 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
500000 | USD |
| CY2013Q4 | plug |
Operating Loss Carryforwards Subject To Limitations
OperatingLossCarryforwardsSubjectToLimitations
|
728000000 | USD |
| CY2013Q4 | us-gaap |
Operating Loss Carryforwards
OperatingLossCarryforwards
|
741000000 | USD |
| CY2014Q3 | plug |
Operating Loss Carryforwards Subject To Limitations Expiration Prior To Utilization Amount
OperatingLossCarryforwardsSubjectToLimitationsExpirationPriorToUtilizationAmount
|
715000000 | USD |
| plug |
Period Of Recognition For Net Unrealized Built In Losses
PeriodOfRecognitionForNetUnrealizedBuiltInLosses
|
P5Y | ||
| plug |
Realized Built In Losses Unfavorable Book To Tax Add Backs Amount
RealizedBuiltInLossesUnfavorableBookToTaxAddBacksAmount
|
28000000 | USD | |
| CY2014Q3 | us-gaap |
Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
|
10700000 | USD |
| CY2011Q3 | us-gaap |
Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
|
525000 | USD |
| CY2013Q4 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
1608131 | USD |
| CY2012Q4 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
2671409 | USD |
| CY2014Q3 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
1306520 | USD |
| CY2013Q3 | us-gaap |
Standard Product Warranty Accrual
StandardProductWarrantyAccrual
|
1413225 | USD |
| us-gaap |
Standard Product Warranty Accrual Additions From Business Acquisition
StandardProductWarrantyAccrualAdditionsFromBusinessAcquisition
|
233528 | USD | |
| CY2013Q3 | plug |
Common Stock Warrants1
CommonStockWarrants1
|
27636465 | shares |
| us-gaap |
Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
|
735907 | USD | |
| us-gaap |
Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
|
590056 | USD | |
| us-gaap |
Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
|
1271046 | USD | |
| us-gaap |
Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
|
1848240 | USD | |
| us-gaap |
Interest Paid
InterestPaid
|
336864 | USD | |
| us-gaap |
Interest Paid
InterestPaid
|
354723 | USD | |
| dei |
Entity Registrant Name
EntityRegistrantName
|
PLUG POWER INC | ||
| dei |
Document Type
DocumentType
|
10-Q | ||
| dei |
Document Period End Date
DocumentPeriodEndDate
|
2014-09-30 | ||
| dei |
Amendment Flag
AmendmentFlag
|
false | ||
| dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001093691 | ||
| dei |
Current Fiscal Year End Date
CurrentFiscalYearEndDate
|
--12-31 | ||
| CY2014Q4 | dei |
Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
|
173125897 | shares |
| dei |
Entity Filer Category
EntityFilerCategory
|
Non-accelerated Filer | ||
| dei |
Entity Current Reporting Status
EntityCurrentReportingStatus
|
Yes | ||
| dei |
Document Fiscal Year Focus
DocumentFiscalYearFocus
|
2014 | ||
| dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
Q3 | ||
| CY2014Q3 | us-gaap |
Accounts Receivable Net
AccountsReceivableNet
|
15032920 | USD |
| CY2014Q3 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
6049407 | USD |
| CY2014Q3 | us-gaap |
Assets Current
AssetsCurrent
|
199469688 | USD |
| CY2014Q3 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
7902787 | USD |
| CY2014Q3 | us-gaap |
Notes Receivable Net
NotesReceivableNet
|
463212 | USD |
| CY2014Q3 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
2098763 | USD |
| CY2014Q3 | us-gaap |
Other Assets
OtherAssets
|
1620342 | USD |
| CY2014Q3 | us-gaap |
Assets
Assets
|
211807521 | USD |
| CY2014Q3 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
5762871 | USD |
| CY2014Q3 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
1306520 | USD |
| CY2014Q3 | us-gaap |
Deferred Revenue Current
DeferredRevenueCurrent
|
4180848 | USD |
| CY2014Q3 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
1950519 | USD |
| CY2014Q3 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
21876590 | USD |
| CY2014Q3 | us-gaap |
Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
|
6552980 | USD |
| CY2014Q3 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
15529387 | USD |
| CY2014Q3 | plug |
Finance Obligation
FinanceObligation
|
2443289 | USD |
| CY2014Q3 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
408847 | USD |
| CY2014Q3 | us-gaap |
Liabilities
Liabilities
|
46811093 | USD |
| CY2014Q3 | plug |
Preferred Stock2
PreferredStock2
|
5554594 | shares |
| CY2014Q3 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
1152720 | USD |
| CY2014Q3 | us-gaap |
Common Stock Value
CommonStockValue
|
1734806 | USD |
| CY2014Q3 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
1094680811 | USD |
| CY2013Q3 | plug |
Preferred Stock2
PreferredStock2
|
10972859 | shares |
| CY2014Q3 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
897807 | USD |
| CY2014Q3 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
2571626 | USD |
| CY2014Q3 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
211807521 | USD |
| CY2013Q4 | us-gaap |
Accounts Receivable Net
AccountsReceivableNet
|
6429400 | USD |
| CY2013Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
1850859 | USD |
| CY2013Q4 | us-gaap |
Assets Current
AssetsCurrent
|
23713102 | USD |
| CY2013Q4 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
500000 | USD |
| CY2013Q4 | plug |
Leased Property Under Capital Lease Net1
LeasedPropertyUnderCapitalLeaseNet1
|
2453312 | USD |
| CY2013Q4 | us-gaap |
Notes Receivable Net
NotesReceivableNet
|
509945 | USD |
| CY2013Q4 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
2901595 | USD |
| CY2013Q4 | us-gaap |
Assets
Assets
|
35355621 | USD |
| CY2013Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
3094385 | USD |
| CY2013Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
3068774 | USD |
| CY2013Q4 | us-gaap |
Product Warranty Accrual
ProductWarrantyAccrual
|
1608131 | USD |
| CY2013Q4 | us-gaap |
Deferred Revenue Current
DeferredRevenueCurrent
|
3434735 | USD |
| CY2013Q4 | us-gaap |
Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
|
717870 | USD |
| CY2013Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
679176 | USD |
| CY2013Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
12603071 | USD |
| CY2013Q4 | us-gaap |
Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
|
586879 | USD |
| CY2013Q4 | us-gaap |
Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
|
5579281 | USD |
| CY2013Q4 | us-gaap |
Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
|
28829849 | USD |
| CY2013Q4 | plug |
Finance Obligation
FinanceObligation
|
2492330 | USD |
| CY2014Q3 | plug |
Number Of Dilutive Potential Common Shares
NumberOfDilutivePotentialCommonShares
|
17474776 | shares |
| CY2013Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
765281 | USD |
| CY2013Q4 | us-gaap |
Liabilities
Liabilities
|
50856691 | USD |
| CY2013Q4 | us-gaap |
Temporary Equity Carrying Amount Attributable To Parent
TemporaryEquityCarryingAmountAttributableToParent
|
2371080 | USD |
| CY2013Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
1063566 | USD |
| CY2013Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
831155925 | USD |
| CY2013Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
897807 | USD |
| CY2013Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-849437066 | USD |
| CY2013Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
1552382 | USD |
| CY2013Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
35355621 | USD |
| CY2014Q3 | us-gaap |
Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
|
0.01 | |
| CY2013Q4 | us-gaap |
Temporary Equity Par Or Stated Value Per Share
TemporaryEquityParOrStatedValuePerShare
|
0.01 | |
| CY2014Q3 | us-gaap |
Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
|
10431 | shares |
| CY2013Q4 | us-gaap |
Temporary Equity Shares Authorized
TemporaryEquitySharesAuthorized
|
10431 | shares |
| CY2014Q3 | us-gaap |
Temporary Equity Shares Issued
TemporaryEquitySharesIssued
|
5231 | shares |
| CY2013Q4 | us-gaap |
Temporary Equity Shares Issued
TemporaryEquitySharesIssued
|
10431 | shares |
| CY2014Q3 | us-gaap |
Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
|
5231 | shares |
| CY2013Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
245000000 | shares |
| CY2014Q3 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
362227 | shares |
| CY2013Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
165906 | shares |
| CY2014Q3 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
12595044 | USD |
| CY2013Q3 | us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
2535153 | USD |
| CY2013Q4 | us-gaap |
Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
|
10431 | shares |
| CY2014Q3 | us-gaap |
Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
|
25495586 | USD |
| CY2013Q4 | us-gaap |
Temporary Equity Liquidation Preference
TemporaryEquityLiquidationPreference
|
25495586 | USD |
| CY2014Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2013Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2014Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
450000000 | shares |
| us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
28336212 | USD | |
| us-gaap |
Sales Revenue Goods Net
SalesRevenueGoodsNet
|
12786935 | USD | |
| CY2014Q3 | us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
6914933 | USD |
| CY2013Q3 | us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
1629855 | USD |
| us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
13395506 | USD | |
| us-gaap |
Sales Revenue Services Net
SalesRevenueServicesNet
|
4552528 | USD | |
| CY2014Q3 | plug |
Service Revenue
ServiceRevenue
|
371117 | USD |
| CY2013Q3 | plug |
Service Revenue
ServiceRevenue
|
461808 | USD |
| plug |
Service Revenue
ServiceRevenue
|
1045059 | USD | |
| plug |
Service Revenue
ServiceRevenue
|
1229734 | USD | |
| CY2014Q3 | us-gaap |
Revenues
Revenues
|
19881094 | USD |
| CY2013Q3 | us-gaap |
Revenues
Revenues
|
4626816 | USD |
| us-gaap |
Revenues
Revenues
|
42776777 | USD | |
| us-gaap |
Revenues
Revenues
|
18569197 | USD | |
| CY2014Q3 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
11058189 | USD |
| CY2013Q3 | us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
3909606 | USD |
| us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
24950538 | USD | |
| us-gaap |
Cost Of Goods Sold
CostOfGoodsSold
|
14339351 | USD | |
| CY2014Q3 | us-gaap |
Cost Of Services
CostOfServices
|
9217120 | USD |
| CY2013Q3 | us-gaap |
Cost Of Services
CostOfServices
|
3902412 | USD |
| us-gaap |
Cost Of Services
CostOfServices
|
19143276 | USD | |
| us-gaap |
Cost Of Services
CostOfServices
|
10444167 | USD | |
| CY2014Q3 | plug |
Cost Of Research And Development Contract Revenue
CostOfResearchAndDevelopmentContractRevenue
|
699490 | USD |
| CY2013Q3 | plug |
Cost Of Research And Development Contract Revenue
CostOfResearchAndDevelopmentContractRevenue
|
730486 | USD |
| plug |
Cost Of Research And Development Contract Revenue
CostOfResearchAndDevelopmentContractRevenue
|
1887516 | USD | |
| plug |
Cost Of Research And Development Contract Revenue
CostOfResearchAndDevelopmentContractRevenue
|
1883361 | USD | |
| CY2014Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
1643526 | USD |
| CY2014Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.06 | |
| CY2013Q3 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
768965 | USD |
| us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
4295153 | USD | |
| us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
2343030 | USD | |
| CY2014Q3 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
4950594 | USD |
| CY2013Q3 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
2753030 | USD |
| us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
13033958 | USD | |
| us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
8849730 | USD | |
| CY2014Q3 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
608444 | USD |
| CY2013Q3 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
562896 | USD |
| us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
1782832 | USD | |
| us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
1704917 | USD | |
| CY2014Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-10696269 | USD |
| CY2013Q3 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-8000579 | USD |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-24716496 | USD | |
| us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-20995359 | USD | |
| CY2014Q3 | us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
628339 | USD |
| CY2013Q3 | us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
26028 | USD |
| us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
722118 | USD | |
| us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
83109 | USD | |
| CY2013Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.19 | |
| CY2014Q3 | plug |
Change In Fair Value Of Common Stock Warrant Liability
ChangeInFairValueOfCommonStockWarrantLiability
|
485471 | USD |
| CY2013Q3 | plug |
Change In Fair Value Of Common Stock Warrant Liability
ChangeInFairValueOfCommonStockWarrantLiability
|
-8206429 | USD |
| plug |
Change In Fair Value Of Common Stock Warrant Liability
ChangeInFairValueOfCommonStockWarrantLiability
|
-58370871 | USD | |
| plug |
Change In Fair Value Of Common Stock Warrant Liability
ChangeInFairValueOfCommonStockWarrantLiability
|
-16171061 | USD | |
| CY2014Q3 | us-gaap |
Interest Expense Other
InterestExpenseOther
|
93255 | USD |
| CY2013Q3 | us-gaap |
Interest Expense Other
InterestExpenseOther
|
124651 | USD |
| us-gaap |
Interest Expense Other
InterestExpenseOther
|
304863 | USD | |
| us-gaap |
Interest Expense Other
InterestExpenseOther
|
354180 | USD | |
| us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.53 | ||
| us-gaap |
Gain Loss On Sale Of Equity Investments
GainLossOnSaleOfEquityInvestments
|
3234717 | USD | |
| CY2014Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-9351034 | USD |
| CY2013Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-15895372 | USD |
| us-gaap |
Net Income Loss
NetIncomeLoss
|
-33792515 | USD | |
| CY2014Q3 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
26030 | USD |
| CY2013Q3 | us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
51908 | USD |
| us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
129848 | USD | |
| us-gaap |
Preferred Stock Dividends Income Statement Impact
PreferredStockDividendsIncomeStatementImpact
|
69211 | USD | |
| CY2013Q3 | plug |
Number Of Dilutive Potential Common Shares
NumberOfDilutivePotentialCommonShares
|
42755013 | shares |
| us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.50 | ||
| CY2014Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
169557223 | shares |
| CY2013Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
84150851 | shares |
| us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
154539225 | shares | |
| us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
67194806 | shares | |
| CY2013Q3 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
25268 | USD |
| us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
-56828 | USD | |
| CY2014Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-9351034 | USD |
| CY2013Q3 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-15870104 | USD |
| us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-81331176 | USD | |
| us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-33849343 | USD | |
| us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
1438457 | USD | |
| us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
1432698 | USD | |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
2402994 | USD | |
| us-gaap |
Share Based Compensation
ShareBasedCompensation
|
1576577 | USD | |
| us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
31792 | USD | |
| us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
55768 | USD | |
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
8287545 | USD | |
| us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
279308 | USD | |
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
6358086 | USD | |
| us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
1218197 | USD | |
| us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
5729996 | USD | |
| us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
131670 | USD | |
| us-gaap |
Increase Decrease In Notes Receivable Current
IncreaseDecreaseInNotesReceivableCurrent
|
-46733 | USD | |
| us-gaap |
Increase Decrease In Notes Receivable Current
IncreaseDecreaseInNotesReceivableCurrent
|
-45399 | USD | |
| us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
6031273 | USD | |
| us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-2065461 | USD | |
| us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
1654631 | USD | |
| us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
1902239 | USD | |
| us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-17944745 | USD | |
| us-gaap |
Proceeds From Divestiture Of Interest In Joint Venture
ProceedsFromDivestitureOfInterestInJointVenture
|
3234717 | USD | |
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
1200003 | USD | |
| us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
144752 | USD | |
| us-gaap |
Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
|
-414000 | USD | |
| us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
31792 | USD | |
| us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
56700 | USD | |
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-754211 | USD | |
| us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
3146665 | USD | |
| us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
500000 | USD | |
| us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
18340534 | USD | |
| us-gaap |
Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
|
2849460 | USD | |
| us-gaap |
Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
|
513661 | USD | |
| us-gaap |
Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
|
2595400 | USD | |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-410259 | USD | |
| plug |
Payments Of Common Stock Issuance Costs
PaymentsOfCommonStockIssuanceCosts
|
10977387 | USD | |
| plug |
Payments Of Common Stock Issuance Costs
PaymentsOfCommonStockIssuanceCosts
|
1934265 | USD | |
| us-gaap |
Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
|
3380835 | USD | |
| us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
2600000 | USD | |
| us-gaap |
Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
|
575609 | USD | |
| us-gaap |
Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
|
516177 | USD | |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
183214480 | USD | |
| us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
16376979 | USD | |
| us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
997 | USD | |
| us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
151435209 | USD | |
| us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
1579896 | USD | |
| CY2012Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
9380059 | USD |
| CY2013Q3 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
10959955 | USD |
| us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="font-size:10.0pt;font-family:Times New Roman;"> <p style="MARGIN: 0in 0in 0pt;"><b><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold;" size="2">1.  Nature of Operations</font></b></p> <p style="MARGIN: 0in 0in 0pt;"> </p> <p style="MARGIN: 0in 0in 0pt 14pt;"><b><i><font style="FONT-STYLE: italic; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold;" size="2">Description of Business</font></i></b></p> <p style="MARGIN: 0in 0in 0pt 14pt;"> </p> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt; punctuation-wrap: simple;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">Plug Power Inc. is a leading provider of alternative energy technology focused on the design, development, commercialization and manufacture of fuel cell systems for the industrial off-road (forklift or material handling) market.</font></p> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt; punctuation-wrap: simple;"> </p> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt; punctuation-wrap: simple;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">We are focused on proton exchange membrane, or PEM, fuel cell and fuel processing technologies and fuel cell/battery hybrid technologies, from which multiple products are available. A fuel cell is an electrochemical device that combines hydrogen and oxygen to produce electricity and heat without combustion. Hydrogen is derived from hydrocarbon fuels such as liquid petroleum gas, or LPG, natural gas, propane, methanol, ethanol, gasoline or biofuels. Hydrogen can also be obtained from the electrolysis of water. Hydrogen can be purchased directly from industrial gas providers or can be produced on-site at consumer locations.</font></p> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt; punctuation-wrap: simple;"> </p> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt; punctuation-wrap: simple;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">We sell and continue to develop fuel cell product solutions to replace lead-acid batteries in material handling vehicles and industrial trucks for some of North America’s largest distribution and manufacturing businesses. We are focusing our efforts on material handling applications (forklifts) at multi-shift high volume manufacturing and high throughput distribution sites where our products and services provide a unique combination of productivity, flexibility and environmental benefits. Our current product line includes: GenDrive, a hydrogen fueled PEM fuel cell system providing power to material handling vehicles; GenKey, our turn-key solution offering complete simplicity to customers transitioning their material handling vehicles to fuel cell power; GenFuel, our hydrogen fueling delivery system; and GenCare, our ongoing maintenance program for both the GenDrive fuel cells and GenFuel products.</font></p> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt; punctuation-wrap: simple;"> </p> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt; punctuation-wrap: simple;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">We sell our products worldwide, with a primary focus on North America, through our direct product sales force, leveraging relationships with original equipment manufacturers, or OEMs, and their dealer networks. We are party to a joint venture based in France with Axane, S.A. under the name HyPulsion, S.A.S., to develop and sell hydrogen fuel cell systems for the European material handling market. We sell to businesses, government agencies and commercial consumers.</font></p> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt; punctuation-wrap: simple;"> </p> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">On April 2, 2014, we acquired substantially all of the assets of ReliOn, a developer of hydrogen fuel cell stack technology based in Spokane, Washington.  As consideration for the acquisition, we issued 530,504 shares of our common stock and assumed certain specified liabilities of ReliOn. The shares were valued at $4,000,000 based on the $7.54 closing sale price of our common stock on the Nasdaq Capital Market on April 1, 2014.</font></p> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt;"> </p> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt; punctuation-wrap: simple;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">Unless the context indicates otherwise, the terms “Company,” “Plug Power,” “we,” “our” or “us” as used herein refers to Plug Power Inc. and its subsidiaries.</font></p> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt; punctuation-wrap: simple;"> </p> <p style="MARGIN: 0in 0in 0pt 17pt;"><b><i><font style="FONT-STYLE: italic; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold;" size="2">Liquidity</font></i></b></p> <p style="MARGIN: 0in 0in 0pt 17pt;"> </p> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">Our cash requirements relate primarily to working capital needed to operate and grow our business, including funding operating expenses, growth in inventory to support both shipments of new units and servicing the installed base, funding the growth in our GenKey “turn-key” solution which also includes the installation of our customer’s hydrogen infrastructure as well as delivery of the hydrogen molecule, and continued development and expansion of our products. Our ability to achieve profitability and meet future liquidity needs and capital requirements will depend upon numerous factors, including the timing and quantity of product orders and shipments; the timing and amount of our operating expenses; the timing and costs of working capital needs; the timing and costs of building a sales base; the timing and costs of developing marketing and distribution channels; the timing and costs of product service requirements; the timing and costs of hiring and training product staff; the extent to which our products gain market acceptance; the timing and costs of product development and introductions; the extent of our ongoing and any new research and development programs; and changes in our strategy or our planned activities. If we are unable to fund our operations, we may be required to delay, reduce and/or cease our operations and/or seek bankruptcy protection.</font></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt;" align="center"> </p> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt; punctuation-wrap: simple;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">We have experienced and continue to experience negative cash flows from operations and net losses attributable to common shareholders. We incurred a net loss attributable to common shareholders of $81.5 million for the nine months ended September 30, 2014, and net losses attributable to common shareholders of $62.8 million, $31.9 million and $27.5 million for the years ended December 31, 2013, 2012 and 2011, respectively, and we have an accumulated deficit of $930.9 million at September 30, 2014. Substantially all of our accumulated deficit has been incurred in connection with our operating expenses, research and development expenses, and from general and administrative costs associated with our operations.</font></p> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt; punctuation-wrap: simple;"> </p> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt; punctuation-wrap: simple;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">Net cash used in operating activities for the nine months ended September 30, 2014 was $31.0 million. Additionally, on September 30, 2014, we had cash and cash equivalents of $156.5 million and net working capital of $177.6 million. This compares to $5.0 million and $11.1 million, respectively, at December 31, 2013.</font></p> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt; punctuation-wrap: simple;"> </p> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt; punctuation-wrap: simple;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">On January 15, 2014 we completed an underwritten public offering of 10,000,000 shares of common stock and accompanying warrants to purchase 4,000,000 shares of common stock. The shares and the warrants were sold together in a fixed combination, with each combination consisting of one share of common stock and 0.40 of a warrant to purchase one share of common stock, at a price of $3.00 per fixed combination for gross proceeds of $30.0 million. The securities were placed with a single institutional investor. The warrants have an exercise price of $4.00 per share, are immediately exercisable and will expire on January 15, 2019. The total net proceeds to Plug Power from the January 2014 public offering were $27,970,256.</font></p> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt; punctuation-wrap: simple;"> </p> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt; punctuation-wrap: simple;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">On March 11, 2014, we completed an underwritten public offering of 3,902,440 shares of common stock. The shares were sold at $5.74 per share for gross proceeds of approximately $22.4 million. The shares were placed with a single institutional investor. The total net proceeds to Plug Power from the March 2014 public offering were $21,308,987.</font></p> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt; punctuation-wrap: simple;"> </p> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt; punctuation-wrap: simple;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">On April 30, 2014, we completed an underwritten public offering of 22,600,000 shares of common stock. The shares were sold at $5.50 per share for gross proceeds of approximately $124.3 million. The total net proceeds to Plug Power from the April 2014 public offering were $116,443,375.</font></p> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt; punctuation-wrap: simple;"> </p> <p style="TEXT-INDENT: 0.4in; MARGIN: 0in 0in 0pt; punctuation-wrap: simple;"><font style="FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt;" size="2">To date, we have funded our operations primarily through public and private offerings of common and preferred stock, a sale-leaseback of our building, our previous line of credit and maturities and sales of our available-for-sale securities. We believe that our current cash, cash equivalents, cash generated from future sales, and cash generated from the exercise of outstanding warrants will provide sufficient liquidity to fund operations for at least the next twelve months. This projection is based on our current expectations regarding product sales, cost structure, cash burn rate and operating assumptions.</font></p> </div> | ||
| us-gaap |
Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
|
300000 | USD | |
| CY2014Q3 | us-gaap |
Income Tax Examination Penalties And Interest Accrued
IncomeTaxExaminationPenaltiesAndInterestAccrued
|
400000 | USD |
| CY2014Q3 | plug |
Leased Property Under Capital Lease Net1
LeasedPropertyUnderCapitalLeaseNet1
|
2065947 | USD |
| CY2014Q3 | us-gaap |
Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
|
773045 | USD |
| CY2014Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-9675714 | USD |
| CY2013Q3 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-16305631 | USD |
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-81655856 | USD | |
| us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
-34202774 | USD | |
| CY2014Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-324680 | USD |
| CY2013Q3 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-410259 | USD |
| us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
-324680 | USD | |
| us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
240598 | USD | |
| plug |
Minimum Period For Which Entity Believes That Existing Resources Will Provide Sufficient Liquidity To Fund Operations
MinimumPeriodForWhichEntityBelievesThatExistingResourcesWillProvideSufficientLiquidityToFundOperations
|
P12M |
