$PLUG
PLUG POWER INC

2021 Q3 Form 10-Q Financial Statement

#000155837021010611 Filed on August 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q2
Revenue $143.9M $124.6M $68.00M
YoY Change 34.45% 83.19% 18.18%
Cost Of Revenue $175.0M $164.9M $68.01M
YoY Change 29.03% 142.4% 32.51%
Gross Profit -$31.08M -$40.30M -$15.00K
YoY Change 8.73% 268553.33% -100.24%
Gross Profit Margin -21.59% -32.35% -0.02%
Selling, General & Admin $42.42M $38.65M $21.64M
YoY Change 146.49% 78.58% 59.0%
% of Gross Profit
Research & Development $16.63M $11.25M $4.873M
YoY Change 125.21% 130.8% 35.06%
% of Gross Profit
Depreciation & Amortization $6.540M $4.590M $3.300M
YoY Change 54.61% 39.09% 14.58%
% of Gross Profit
Operating Expenses $67.59M $49.34M $26.52M
YoY Change 162.71% 86.07% 53.98%
Operating Profit -$98.66M -$89.64M -$26.53M
YoY Change 81.67% 237.84% 139.48%
Interest Expense $5.361M $10.27M $13.37M
YoY Change -68.92% -23.19% -315.61%
% of Operating Profit
Other Income/Expense, Net -$100.0K -$100.0K -$13.46M
YoY Change -99.43% -99.26% 69.01%
Pretax Income -$106.7M -$99.63M -$26.77M
YoY Change 48.44% 272.16% 54.41%
Income Tax $0.00 $0.00 -$17.40M
% Of Pretax Income
Net Earnings -$106.7M -$99.63M -$9.401M
YoY Change 63.56% 959.82% -45.78%
Net Earnings / Revenue -74.12% -79.99% -13.83%
Basic Earnings Per Share -$0.19
Diluted Earnings Per Share -$185.7K -$175.7K -$29.69K
COMMON SHARES
Basic Shares Outstanding 574.4M 568.3M
Diluted Shares Outstanding 574.5M

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $4.125B $4.403B $152.5M
YoY Change 820.49% 2787.14% 670.2%
Cash & Equivalents $3.372B $3.160B $152.5M
Short-Term Investments $752.8M $1.243B
Other Short-Term Assets $301.0M $262.4M $82.00M
YoY Change 265.29% 220.0% 145.51%
Inventory $229.8M $209.8M $114.6M
Prepaid Expenses
Receivables $132.4M $91.40M $45.50M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.788B $4.966B $394.9M
YoY Change 515.2% 1157.59% 157.64%
LONG-TERM ASSETS
Property, Plant & Equipment $169.6M $110.5M $334.7M
YoY Change -54.69% -66.99% 81.21%
Goodwill $71.90M $72.10M $70.26M
YoY Change 0.11% 2.62% 684.09%
Intangibles $37.64M $38.05M $38.97M
YoY Change -4.86% -2.37% 622.01%
Long-Term Investments
YoY Change
Other Assets $404.4M $360.2M $191.9M
YoY Change 70.49% 87.7% 82.94%
Total Long-Term Assets $952.1M $822.4M $503.8M
YoY Change 64.78% 63.24% 106.56%
TOTAL ASSETS
Total Short-Term Assets $4.788B $4.966B $394.9M
Total Long-Term Assets $952.1M $822.4M $503.8M
Total Assets $5.740B $5.789B $898.7M
YoY Change 323.28% 544.12% 126.28%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $68.38M $70.03M $39.81M
YoY Change 16.3% 75.89% 7.76%
Accrued Expenses $52.65M $35.41M $23.92M
YoY Change 38.73% 48.03% 428.9%
Deferred Revenue $35.46M $27.00M $14.90M
YoY Change 105.87% 81.21% 27.04%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $23.49M $30.40M $50.93M
YoY Change -68.61% -40.31% 219.77%
Total Short-Term Liabilities $269.9M $251.1M $187.6M
YoY Change 7.03% 33.86% 101.55%
LONG-TERM LIABILITIES
Long-Term Debt $505.4M $496.4M $244.5M
YoY Change 124.12% 103.03% 62.35%
Other Long-Term Liabilities $55.11M $42.97M $14.48M
YoY Change 22.01% 196.86% 334.32%
Total Long-Term Liabilities $55.11M $42.97M $14.48M
YoY Change 22.01% 196.86% 334.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $269.9M $251.1M $187.6M
Total Long-Term Liabilities $55.11M $42.97M $14.48M
Total Liabilities $1.033B $958.0M $664.2M
YoY Change 34.21% 44.24% 74.17%
SHAREHOLDERS EQUITY
Retained Earnings -$2.204B -$2.097B -$1.397B
YoY Change 50.71% 50.11% 6.29%
Common Stock $5.930M $5.868M $3.482M
YoY Change 46.02% 68.52% 40.97%
Preferred Stock
YoY Change
Treasury Stock (at cost) $71.17M $40.43M $31.36M
YoY Change 76.01% 28.94% 2.21%
Treasury Stock Shares $17.03M $15.93M $15.29M
Shareholders Equity $4.707B $4.831B $234.6M
YoY Change
Total Liabilities & Shareholders Equity $5.740B $5.789B $898.7M
YoY Change 323.28% 544.12% 126.28%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$106.7M -$99.63M -$9.401M
YoY Change 63.56% 959.82% -45.78%
Depreciation, Depletion And Amortization $6.540M $4.590M $3.300M
YoY Change 54.61% 39.09% 14.58%
Cash From Operating Activities -$101.9M -$129.5M -$51.49M
YoY Change 128.28% 151.58% 321.01%
INVESTING ACTIVITIES
Capital Expenditures -$68.62M -$27.45M -$4.910M
YoY Change 347.62% 459.06% 11.09%
Acquisitions
YoY Change
Other Investing Activities $459.5M -$959.4M -$45.29M
YoY Change 255205.56% 2018.33% -12018.42%
Cash From Investing Activities $390.9M -$986.8M -$50.19M
YoY Change -2676.99% 1866.21% 1139.26%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -25.53M 12.92M 177.8M
YoY Change -106.26% -92.73% 319.42%
NET CHANGE
Cash From Operating Activities -101.9M -129.5M -51.49M
Cash From Investing Activities 390.9M -986.8M -50.19M
Cash From Financing Activities -25.53M 12.92M 177.8M
Net Change In Cash 263.5M -1.103B 76.07M
YoY Change -24.31% -1550.58% 191.46%
FREE CASH FLOW
Cash From Operating Activities -$101.9M -$129.5M -$51.49M
Capital Expenditures -$68.62M -$27.45M -$4.910M
Free Cash Flow -$33.24M -$102.1M -$46.58M
YoY Change 13.49% 119.17% 496.41%

Facts In Submission

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us-gaap Preferred Stock Accretion Of Redemption Discount
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us-gaap Net Income Loss
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us-gaap Amortization Of Intangible Assets
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us-gaap Share Based Compensation
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us-gaap Share Based Compensation
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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2392000
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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PaymentsToAcquireEquipmentOnLease
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us-gaap Payments To Acquire Equipment On Lease
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Issuance Of Debt
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us-gaap Net Cash Provided By Used In Financing Activities
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:31.8pt;margin:0pt;"><i style="font-style:italic;">Available-for-sale securities</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:31.8pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:31.8pt;margin:0pt;"><span style="background-color:#ffffff;">Available-for-sale securities is comprised of commercial paper with original maturities greater than three months, U.S. Treasury securities, municipal debt, certificates of deposit and corporate bonds.  We consider these securities to be </span>available for use in our current year operations, and therefore classify them as current even if we do not dispose of the securities in the following year.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:31.8pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:31.8pt;margin:0pt;"><span style="background-color:#ffffff;">Available-for-sale securities are recorded at fair value as of each balance sheet date. As of each balance sheet date, unrealized gains and losses, with the exception of credit related losses, are recorded to accumulated other comprehensive income. Any credit related losses are recognized as a credit loss allowance on the balance sheet with a corresponding adjustment to operations. Realized gains and losses are due to the sale and maturity of securities classified as available-for-sale and represent the net gain (loss) from accumulated other comprehensive income reclassifications for previously unrealized net gains on available-for-sale debt securities.</span></p>
plug Recognitionofrightofuseassetforoperatingleases
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us-gaap Conversion Of Stock Amount Converted1
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Interest Paid Net
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us-gaap Interest Paid Net
InterestPaidNet
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plug Recognitionofrightofuseassetforfinanceleases
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us-gaap Nature Of Operations
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><b style="font-weight:bold;">1.  </b><b style="font-weight:bold;">Nature of Operations</b><b style="font-weight:bold;"> </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">Plug Power is facilitating the paradigm shift to an increasingly electrified world by innovating cutting-edge hydrogen and fuel cell solutions.  In our core business, we provide and continue to develop commercially viable hydrogen and fuel cell product solutions to replace lead-acid batteries in electric material handling vehicles and industrial trucks for some of the world’s largest retail-distribution and manufacturing businesses. We are focusing our efforts on industrial mobility applications, including electric forklifts and electric industrial vehicles, at multi-shift high volume manufacturing and high throughput distribution sites where we believe our products and services provide a unique combination of productivity, flexibility, and environmental benefits. Additionally, we manufacture and sell fuel cell products to replace batteries and diesel generators in stationary backup power applications. These products have proven valuable with telecommunications, transportation, and utility customers as robust, reliable, and sustainable power solutions.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">Our current products and services include:</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 36pt;">GenDrive: GenDrive is our hydrogen fueled Proton Exchange Membrane (“PEM”) fuel cell system providing power to material handling electric vehicles, including class 1, 2, 3 and 6 electric forklifts, Automated Guided Vehicles (“AGVs”) and ground support equipment;</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">GenFuel:  GenFuel is our liquid hydrogen fueling delivery, generation, storage, and dispensing system;</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 36pt;">GenCare: GenCare is our ongoing ‘internet of things’-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products and ProGen fuel cell engines;</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 36pt;">GenSure:  GenSure is our stationary fuel cell solution providing scalable, modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; GenSure High Power Fuel Cell Platform will support large scale stationary power and data center markets;</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 36pt;">GenKey: GenKey is our vertically integrated “turn-key” solution combining either GenDrive or GenSure fuel cell power with GenFuel fuel and GenCare aftermarket service, offering complete simplicity to customers transitioning to fuel cell power;</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 36pt;">ProGen:  ProGen is our fuel cell stack and engine technology currently used globally in mobility and stationary fuel cell systems, and as engines in electric delivery vans. This includes the Plug Power membrane electrode assembly (“MEA”), a critical component of the fuel cell stack used in zero-emission fuel cell electric vehicle engines; and</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 36pt;">GenFuel Electrolyzers: <span style="background-color:#ffffff;color:#333333;">GenFuel electrolyzers are modular, scalable hydrogen generators optimized for clean hydrogen production. </span>Electrolyzers generate hydrogen from water using electricity and a special membrane and “green” hydrogen is generated by using renewable energy inputs, such as solar or wind power.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">We provide our products worldwide through our direct product sales force, and by leveraging relationships with original equipment manufacturers (“OEMs”) and their dealer networks. Plug Power is targeting Asia and Europe for expansion in adoption. Europe has rolled out ambitious targets for the hydrogen economy and Plug Power is executing on its strategy to become one of the European leaders. This includes a targeted account strategy for material handling as well as securing strategic partnerships with European OEMs, energy companies, utility leaders and accelerating our electrolyzer business. We manufacture our commercially viable products in Latham, New York, Rochester, New York and Spokane, Washington and support liquid hydrogen generation and logistics in Charleston, Tennessee.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">Our wholly-owned subsidiary, Plug Power France, has created a joint venture with Renault SAS (“Renault”) named HyVia, a French société par actions simplifiée (“HyVia”).  HyVia plans to manufacture and sell fuel cell powered electric light commercial vehicles (“FCELCVs”) and to supply hydrogen fuel and fueling stations to support the FCE-LCV market, in each case primarily in Europe. HyVia is owned 50% by Plug Power France and 50% by Renault.</p>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><b style="font-weight:bold;">Restatement </b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="font-weight:bold;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">As previously disclosed in the Explanatory Note to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020 (the “2020 10-K”), the Company restated its previously issued audited consolidated financial statements as of and for the years ended December 31, 2019 and 2018 and its unaudited interim condensed consolidated financial statements as of and for each of the quarterly periods ended March 31, 2020 and 2019, June 30, 2020 and 2019, September 30, 2020 and 2019 and December 31, 2019. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;">Previously filed annual reports on Form 10-K and quarterly reports on Form 10-Q for the periods affected by the restatement have not been amended. Accordingly, investors should not rely upon the Company’s previously released financial statements for these periods and any earnings releases or other communications relating to these periods, and, for these periods, investors should rely solely on the financial statements and other financial data for the relevant periods included in the 2020 10-K. Commencing with our quarterly report on Form 10-Q for the quarterly period ended March 31, 2021, we are including in our quarterly reports for fiscal 2021 restated results for the corresponding interim periods of fiscal 2020.</p>
CY2021Q1 us-gaap Debt Instrument Interest Rate Stated Percentage
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CY2021Q1 us-gaap Convertible Debt
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LossContingencyAccrualAtCarryingValue
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us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
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LossContingencyAccrualAtCarryingValue
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
204174726
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InventoryRawMaterialsAndSuppliesProductionLocationsNetOfReserves
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CY2020Q4 plug Inventory Raw Materials And Supplies Production Locations Net Of Reserves
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CY2021Q2 plug Inventory Raw Materials And Supplies Customer Locations Net Of Reserves
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CY2020Q4 plug Inventory Raw Materials And Supplies Customer Locations Net Of Reserves
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CY2021Q2 us-gaap Inventory Work In Process Net Of Reserves
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58147000
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
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InventoryFinishedGoodsNetOfReserves
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CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
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CY2021Q2 us-gaap Inventory Net
InventoryNet
209820000
CY2020Q4 us-gaap Inventory Net
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CY2020Q4 plug Property Plant And Equipment Lessor Asset Under Operating Lease Before Accumulated Depreciation
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92736000
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PropertyPlantAndEquipmentLessorAssetUnderOperatingLeaseAccumulatedDepreciation
18629000
CY2020Q4 plug Property Plant And Equipment Lessor Asset Under Operating Lease Accumulated Depreciation
PropertyPlantAndEquipmentLessorAssetUnderOperatingLeaseAccumulatedDepreciation
16929000
CY2021Q2 plug Property Plant And Equipment Lessor Asset Under Operating Lease After Accumulated Depreciation
PropertyPlantAndEquipmentLessorAssetUnderOperatingLeaseAfterAccumulatedDepreciation
78918000
CY2020Q4 plug Property Plant And Equipment Lessor Asset Under Operating Lease After Accumulated Depreciation
PropertyPlantAndEquipmentLessorAssetUnderOperatingLeaseAfterAccumulatedDepreciation
75807000
CY2021Q2 plug Property Plant And Equipment Lessor Asset Under Operating Lease Depreciation
PropertyPlantAndEquipmentLessorAssetUnderOperatingLeaseDepreciation
2000000.0
plug Property Plant And Equipment Lessor Asset Under Operating Lease Depreciation
PropertyPlantAndEquipmentLessorAssetUnderOperatingLeaseDepreciation
3800000
CY2021Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
135915000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
96735000
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
25440000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
22186000
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
110475000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
74549000
CY2021Q2 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
1600000
CY2020Q2 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
900000
us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
3300000
us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
1800000
CY2021Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
43040000
CY2021Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
4988000
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
38052000
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
43587000
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
4336000
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
39251000
CY2021Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
400000
CY2020Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
200000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
700000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
400000
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
732000
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1463000
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1463000
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1442000
CY2021Q2 plug Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
3952000
CY2021Q2 plug Finite Lived Intangible Assets Amortization Expense Net
FiniteLivedIntangibleAssetsAmortizationExpenseNet
9052000
CY2021Q2 us-gaap Goodwill
Goodwill
72100000
CY2020Q4 us-gaap Goodwill
Goodwill
72400000
CY2020 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-304000
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2020 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
plug Secured Debt Percentage Of Securities In Foreign Subsidiaries Securing Debt
SecuredDebtPercentageOfSecuritiesInForeignSubsidiariesSecuringDebt
0.65
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
127317000
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
93321000
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
62920000
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
33692000
CY2021Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000.0
CY2021Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
plug Number Of Votes Per Share
NumberOfVotesPerShare
1
CY2020Q4 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
43700000
CY2020Q4 us-gaap Share Price
SharePrice
22.25
CY2020Q4 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
927300000
CY2020Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
35276250
CY2020Q3 us-gaap Share Price
SharePrice
10.25
CY2020Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
344400000
CY2021Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
570922157
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
458051401
CY2021Q1 plug Class Of Warrant Or Right Exercised
ClassOfWarrantOrRightExercised
16489014
CY2020Q4 plug Warrant Assumptions Risk Free Interest Rate
WarrantAssumptionsRiskFreeInterestRate
0.0058
CY2020Q4 plug Warrant Assumptions Risk Free Interest Rate
WarrantAssumptionsRiskFreeInterestRate
0.0058
CY2020Q4 plug Warrant Assumptions Volatility Rate
WarrantAssumptionsVolatilityRate
0.7500
CY2020Q4 plug Warrant Assumptions Volatility Rate
WarrantAssumptionsVolatilityRate
0.7500
CY2020 plug Warrant Assumptions Expected Average Term
WarrantAssumptionsExpectedAverageTerm
P6Y3M3D
CY2020Q4 plug Warrant Assumptions Exercise Price
WarrantAssumptionsExercisePrice
13.81
CY2020Q4 plug Warrant Assumptions Expected Average Term
WarrantAssumptionsExpectedAverageTerm
P6Y5M1D
CY2020Q4 plug Warrant Assumptions Exercise Price
WarrantAssumptionsExercisePrice
13.81
CY2020Q4 plug Warrant Assumptions Stock Price
WarrantAssumptionsStockPrice
33.91
CY2020Q4 plug Warrant Assumptions Stock Price
WarrantAssumptionsStockPrice
15.47
CY2021Q2 us-gaap Revenues
Revenues
124557000
CY2020Q2 us-gaap Revenues
Revenues
67995000
us-gaap Revenues
Revenues
196515000
us-gaap Revenues
Revenues
108814000
CY2021Q2 us-gaap Accounts Receivable Net
AccountsReceivableNet
91359000
CY2020Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
43041000
CY2021Q2 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
11549000
CY2020Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
18189000
CY2021Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
93665000
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
76285000
us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
7106000
plug Contract With Customer Asset Revenue Recognized And Unbilled
ContractWithCustomerAssetRevenueRecognizedAndUnbilled
466000
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
6640000
plug Contract With Customer Asset Increase Decrease For Cash Received
ContractWithCustomerAssetIncreaseDecreaseForCashReceived
49628000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-32248000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-17380000
CY2021Q2 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
474085000
CY2021Q2 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
1200000
CY2020Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
1500000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-17400000
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-17400000
us-gaap Income Tax Expense Benefit Intraperiod Tax Allocation
IncomeTaxExpenseBenefitIntraperiodTaxAllocation
12200000
CY2020Q2 us-gaap Income Tax Expense Benefit Intraperiod Tax Allocation
IncomeTaxExpenseBenefitIntraperiodTaxAllocation
12200000
CY2021Q2 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
17298000
CY2021Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
1826000
CY2021Q2 plug Operating And Finance Lease Liability To Be Paid Remainder Of Fiscal Year
OperatingAndFinanceLeaseLiabilityToBePaidRemainderOfFiscalYear
19124000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
34579000
CY2021Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
3731000
CY2021Q2 plug Operating And Finance Lease Liability To Be Paid Year One
OperatingAndFinanceLeaseLiabilityToBePaidYearOne
38310000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
34636000
CY2021Q2 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
3708000
CY2021Q2 plug Operating And Finance Lease Liability To Be Paid Year Two
OperatingAndFinanceLeaseLiabilityToBePaidYearTwo
38344000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
34636000
CY2021Q2 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
3715000
CY2021Q2 plug Operating And Finance Lease Liability To Be Paid Year Three
OperatingAndFinanceLeaseLiabilityToBePaidYearThree
38351000
CY2021Q2 plug Lessee Operating Lease Liability Payments Due Year Four And After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFourAndAfterYearFour
73276000
CY2021Q2 plug Finance Lease Liability Payments Due Year Four And After Year Four
FinanceLeaseLiabilityPaymentsDueYearFourAndAfterYearFour
4921000
CY2021Q2 plug Operating And Finance Lease Liability To Be Paid Year Four And After Year Four
OperatingAndFinanceLeaseLiabilityToBePaidYearFourAndAfterYearFour
78197000
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
194425000
CY2021Q2 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
17901000
CY2021Q2 plug Operating And Finance Lease Liability Payment Due Total
OperatingAndFinanceLeaseLiabilityPaymentDueTotal
212326000
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
52307000
CY2021Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
2793000
CY2021Q2 plug Operating And Finance Lease Liability Undiscounted Excess Amount
OperatingAndFinanceLeaseLiabilityUndiscountedExcessAmount
55100000
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
142118000
CY2021Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
15108000
CY2021Q2 plug Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
157226000
CY2021Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
8200000
CY2020Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
7800000
us-gaap Operating Lease Expense
OperatingLeaseExpense
16300000
us-gaap Operating Lease Expense
OperatingLeaseExpense
12500000
CY2021Q2 us-gaap Sale And Leaseback Transaction Gain Loss Net
SaleAndLeasebackTransactionGainLossNet
19500000
CY2020Q2 us-gaap Sale And Leaseback Transaction Gain Loss Net
SaleAndLeasebackTransactionGainLossNet
14400000
us-gaap Sale And Leaseback Transaction Gain Loss Net
SaleAndLeasebackTransactionGainLossNet
35400000
us-gaap Sale And Leaseback Transaction Gain Loss Net
SaleAndLeasebackTransactionGainLossNet
19700000
CY2021Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
24000000.0
CY2020Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2900000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
35900000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
8100000
CY2021Q2 plug Operating Ease Right Of Use Asset Before Accumulated Amortization
OperatingEaseRightOfUseAssetBeforeAccumulatedAmortization
172300000
CY2020Q4 plug Operating Ease Right Of Use Asset Before Accumulated Amortization
OperatingEaseRightOfUseAssetBeforeAccumulatedAmortization
136900000
CY2021Q2 plug Operating Lease Right Of Use Asset Accumulated Amortization
OperatingLeaseRightOfUseAssetAccumulatedAmortization
26500000
CY2020Q4 plug Operating Lease Right Of Use Asset Accumulated Amortization
OperatingLeaseRightOfUseAssetAccumulatedAmortization
19900000
CY2021Q2 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
17300000
CY2020Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
5700000
CY2021Q2 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
380000
CY2020Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
102000
CY2021Q2 plug Prepaid Rent And Security Deposit
PrepaidRentAndSecurityDeposit
3100000
CY2020Q4 plug Prepaid Rent And Security Deposit
PrepaidRentAndSecurityDeposit
5800000
us-gaap Operating Lease Payments
OperatingLeasePayments
16081000
us-gaap Operating Lease Payments
OperatingLeasePayments
9674000
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y9M25D
CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y4M2D
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.114
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.121
CY2021Q2 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
6500000
CY2020Q2 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
700000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
12100000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
700000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
1166000000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
132000000
CY2021Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P4Y10M9D
CY2020Q2 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P6Y8M26D
CY2021Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.069
CY2020Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.096
CY2021Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
1244618000
CY2021Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
304000
CY2021Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
2201000
CY2021Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1242721000
CY2021Q2 us-gaap Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
119978000
us-gaap Equity Securities Fv Ni Unrealized Gain
EquitySecuritiesFvNiUnrealizedGain
405000
us-gaap Equity Securities Fv Ni Unrealized Loss
EquitySecuritiesFvNiUnrealizedLoss
81000
CY2021Q2 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
120302000
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
717531000
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
717285000
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
527087000
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
525436000
CY2021Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
1244618000
CY2021Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
1242721000
CY2021Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
243500000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
698500
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
174649

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