$PLUG
PLUG POWER INC

2021 Q4 Form 10-Q Financial Statement

#000155837021015317 Filed on November 09, 2021

View on sec.gov

Income Statement

Concept 2021 Q4 2021 Q3 2020 Q4
Revenue $161.9M $143.9M $309.1M
YoY Change -47.62% 34.45% 237.42%
Cost Of Revenue $249.7M $175.0M $159.6M
YoY Change 56.45% 29.03% 90.31%
Gross Profit -$87.80M -$31.08M -$431.1M
YoY Change -79.63% 8.73% -5665.63%
Gross Profit Margin -54.23% -21.59% -139.47%
Selling, General & Admin $73.20M $42.42M $32.40M
YoY Change 125.93% 146.49% 224.88%
% of Gross Profit
Research & Development $27.10M $16.63M
YoY Change 125.21%
% of Gross Profit
Depreciation & Amortization $6.370M $6.540M $4.870M
YoY Change 30.8% 54.61% 53.14%
% of Gross Profit
Operating Expenses $102.7M $67.59M $46.66M
YoY Change 120.1% 162.71% 214.1%
Operating Profit -$190.5M -$98.66M -$477.8M
YoY Change -60.13% 81.67% 6620.69%
Interest Expense -$8.100M $5.361M -$18.50M
YoY Change -56.22% -68.92% 62.28%
% of Operating Profit
Other Income/Expense, Net -$300.0K -$100.0K $1.100M
YoY Change -127.27% -99.43% -110.0%
Pretax Income -$209.1M -$106.7M -$517.3M
YoY Change -59.58% 48.44% 2768.15%
Income Tax -$16.20M $0.00 -$6.700M
% Of Pretax Income
Net Earnings -$192.9M -$106.7M -$510.6M
YoY Change -62.22% 63.56% 2731.0%
Net Earnings / Revenue -119.15% -74.12% -165.19%
Basic Earnings Per Share -$0.19
Diluted Earnings Per Share -$334.3K -$185.7K -$1.198M
COMMON SHARES
Basic Shares Outstanding 576.4M 574.4M 415.6M
Diluted Shares Outstanding 574.5M

Balance Sheet

Concept 2021 Q4 2021 Q3 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.722B $4.125B $1.312B
YoY Change 183.57% 820.49% 840.79%
Cash & Equivalents $2.481B $3.372B $1.312B
Short-Term Investments $1.240B $752.8M
Other Short-Term Assets $326.5M $301.0M $108.3M
YoY Change 201.48% 265.29% 42.5%
Inventory $269.2M $229.8M $139.4M
Prepaid Expenses
Receivables $131.3M $132.4M $43.00M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.449B $4.788B $1.603B
YoY Change 177.48% 515.2% 411.13%
LONG-TERM ASSETS
Property, Plant & Equipment $255.6M $169.6M $74.55M
YoY Change 242.89% -54.69% -49.53%
Goodwill $220.4M $71.90M $72.40M
YoY Change 204.47% 0.11% 722.73%
Intangibles $158.2M $37.64M $39.25M
YoY Change 303.07% -4.86% 608.63%
Long-Term Investments $12.90M
YoY Change
Other Assets $536.3M $404.4M $263.4M
YoY Change 103.61% 70.49% 43.31%
Total Long-Term Assets $1.502B $952.1M $648.1M
YoY Change 131.69% 64.78% 87.39%
TOTAL ASSETS
Total Short-Term Assets $4.449B $4.788B $1.603B
Total Long-Term Assets $1.502B $952.1M $648.1M
Total Assets $5.950B $5.740B $2.251B
YoY Change 164.3% 323.28% 241.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $92.31M $68.38M $50.20M
YoY Change 83.89% 16.3% 24.33%
Accrued Expenses $79.24M $52.65M $46.08M
YoY Change 71.94% 38.73% 219.82%
Deferred Revenue $35.46M $23.28M
YoY Change 105.87% 99.08%
Short-Term Debt $15.30M $0.00 $25.40M
YoY Change -39.76%
Long-Term Debt Due $15.25M $23.49M $25.39M
YoY Change -39.93% -68.61% -4.05%
Total Short-Term Liabilities $420.6M $269.9M $222.4M
YoY Change 89.13% 7.03% 65.99%
LONG-TERM LIABILITIES
Long-Term Debt $541.7M $505.4M $389.0M
YoY Change 39.25% 124.12% 22.48%
Other Long-Term Liabilities $139.8M $55.11M $40.45M
YoY Change 245.63% 22.01% 1335.31%
Total Long-Term Liabilities $139.8M $55.11M $40.45M
YoY Change 245.63% 22.01% 1335.31%
TOTAL LIABILITIES
Total Short-Term Liabilities $420.6M $269.9M $222.4M
Total Long-Term Liabilities $139.8M $55.11M $40.45M
Total Liabilities $1.344B $1.033B $784.4M
YoY Change 71.4% 34.21% 48.42%
SHAREHOLDERS EQUITY
Retained Earnings -$2.397B -$2.204B -$1.946B
YoY Change 23.14% 50.71% 44.15%
Common Stock $5.947M $5.930M $4.740M
YoY Change 25.46% 46.02% 48.78%
Preferred Stock
YoY Change
Treasury Stock (at cost) $72.53M $71.17M $40.43M
YoY Change 79.37% 76.01% 29.53%
Treasury Stock Shares $17.07M $17.03M $15.93M
Shareholders Equity $4.606B $4.707B $1.467B
YoY Change
Total Liabilities & Shareholders Equity $5.950B $5.740B $2.251B
YoY Change 164.3% 323.28% 241.36%

Cashflow Statement

Concept 2021 Q4 2021 Q3 2020 Q4
OPERATING ACTIVITIES
Net Income -$192.9M -$106.7M -$510.6M
YoY Change -62.22% 63.56% 2731.0%
Depreciation, Depletion And Amortization $6.370M $6.540M $4.870M
YoY Change 30.8% 54.61% 53.14%
Cash From Operating Activities -$9.680M -$101.9M $1.030M
YoY Change -1039.81% 128.28% -167.76%
INVESTING ACTIVITIES
Capital Expenditures -$83.99M -$68.62M -$23.62M
YoY Change 255.59% 347.62% 348.2%
Acquisitions
YoY Change
Other Investing Activities -$642.6M $459.5M $0.00
YoY Change 255205.56%
Cash From Investing Activities -$726.6M $390.9M -$23.61M
YoY Change 2977.51% -2676.99% 348.01%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $927.3M
YoY Change 670.18%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 16.02M -25.53M 925.4M
YoY Change -98.27% -106.26% 420.12%
NET CHANGE
Cash From Operating Activities -9.680M -101.9M 1.030M
Cash From Investing Activities -726.6M 390.9M -23.61M
Cash From Financing Activities 16.02M -25.53M 925.4M
Net Change In Cash -720.3M 263.5M 902.8M
YoY Change -179.78% -24.31% 427.57%
FREE CASH FLOW
Cash From Operating Activities -$9.680M -$101.9M $1.030M
Capital Expenditures -$83.99M -$68.62M -$23.62M
Free Cash Flow $74.31M -$33.24M $24.65M
YoY Change 201.46% 13.49% 557.33%

Facts In Submission

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us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
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us-gaap Net Income Loss
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plug Increase Decrease In Fair Value Of Contingent Consideration
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plug Increase Decrease In Fair Value Of Contingent Consideration
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us-gaap Debt Securities Available For Sale Realized Gain Loss
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us-gaap Increase Decrease In Equity Securities Fv Ni
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us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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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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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></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, created a joint venture with Renault SAS (“Renault”) named HyVia, a French société par actions simplifiée (“HyVia”) in the second quarter 2021.  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>
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2020Q4 plug Inventory Raw Materials And Supplies Production Locations Net Of Reserves
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CY2021Q3 plug Inventory Raw Materials And Supplies Customer Locations Net Of Reserves
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13611000
CY2020Q4 plug Inventory Raw Materials And Supplies Customer Locations Net Of Reserves
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16929000
CY2021Q3 plug Property Plant And Equipment Lessor Asset Under Operating Lease After Accumulated Depreciation
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78711000
CY2020Q4 plug Property Plant And Equipment Lessor Asset Under Operating Lease After Accumulated Depreciation
PropertyPlantAndEquipmentLessorAssetUnderOperatingLeaseAfterAccumulatedDepreciation
75807000
CY2021Q3 plug Property Plant And Equipment Lessor Asset Under Operating Lease Depreciation
PropertyPlantAndEquipmentLessorAssetUnderOperatingLeaseDepreciation
1900000
CY2020Q3 plug Property Plant And Equipment Lessor Asset Under Operating Lease Depreciation
PropertyPlantAndEquipmentLessorAssetUnderOperatingLeaseDepreciation
2300000
plug Property Plant And Equipment Lessor Asset Under Operating Lease Depreciation
PropertyPlantAndEquipmentLessorAssetUnderOperatingLeaseDepreciation
5700000
plug Property Plant And Equipment Lessor Asset Under Operating Lease Depreciation
PropertyPlantAndEquipmentLessorAssetUnderOperatingLeaseDepreciation
6600000
CY2021Q3 plug Fuel Tanks Purchased
FuelTanksPurchased
0
CY2021Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
196941000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
96735000
CY2021Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
27355000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
22186000
CY2021Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
169586000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
74549000
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
2600000
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
0
CY2021Q3 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
1900000
CY2020Q3 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
1400000
us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
5200000
us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
3200000
CY2021Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
42930000
CY2021Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5286000
CY2021Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
37644000
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
CY2021Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
400000
CY2020Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
300000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1100000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
800000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
363000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1453000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1453000
CY2021Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1431000
CY2021Q3 plug Finite Lived Intangible Assets Amortization Expense After Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour
3944000
CY2021Q3 plug Finite Lived Intangible Assets Amortization Expense Net
FiniteLivedIntangibleAssetsAmortizationExpenseNet
8644000
CY2021Q3 us-gaap Goodwill
Goodwill
71900000
CY2020Q4 us-gaap Goodwill
Goodwill
72400000
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-531000
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
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
127317000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
93321000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
62920000
CY2021Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
33692000
CY2021Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000.0
CY2021Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2021Q3 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
CY2021Q3 plug Class Of Warrant Or Right Exercised
ClassOfWarrantOrRightExercised
3501640
plug Class Of Warrant Or Right Exercised
ClassOfWarrantOrRightExercised
24736559
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 Expected Average Term
WarrantAssumptionsExpectedAverageTerm
P6Y5M1D
CY2020Q4 plug Warrant Assumptions Exercise Price
WarrantAssumptionsExercisePrice
13.81
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
CY2021Q3 us-gaap Revenues
Revenues
143922000
CY2020Q3 us-gaap Revenues
Revenues
107048000
us-gaap Revenues
Revenues
340437000
CY2021Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
9284000
us-gaap Revenues
Revenues
215862000
CY2021Q3 us-gaap Accounts Receivable Net
AccountsReceivableNet
132370000
CY2020Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
43041000
CY2020Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
18189000
CY2021Q3 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
115595000
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
76285000
us-gaap Contract With Customer Asset Reclassified To Receivable
ContractWithCustomerAssetReclassifiedToReceivable
13344000
plug Contract With Customer Asset Revenue Recognized And Unbilled
ContractWithCustomerAssetRevenueRecognizedAndUnbilled
4439000
us-gaap Increase Decrease In Contract With Customer Asset
IncreaseDecreaseInContractWithCustomerAsset
8905000
plug Contract With Customer Asset Increase Decrease For Cash Received
ContractWithCustomerAssetIncreaseDecreaseForCashReceived
91985000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
-52675000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-39310000
CY2021Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
464881000
CY2021Q3 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
807000
CY2020Q4 us-gaap Capitalized Contract Cost Net
CapitalizedContractCostNet
1300000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-6600000
CY2021Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
9929000
CY2021Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
1019000
CY2021Q3 plug Operating And Finance Lease Liability To Be Paid Remainder Of Fiscal Year
OperatingAndFinanceLeaseLiabilityToBePaidRemainderOfFiscalYear
10948000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
39932000
CY2021Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
4012000
CY2021Q3 plug Operating And Finance Lease Liability To Be Paid Year One
OperatingAndFinanceLeaseLiabilityToBePaidYearOne
43944000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
39989000
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
3989000
CY2021Q3 plug Operating And Finance Lease Liability To Be Paid Year Two
OperatingAndFinanceLeaseLiabilityToBePaidYearTwo
43978000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
39957000
CY2021Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
3996000
CY2021Q3 plug Operating And Finance Lease Liability To Be Paid Year Three
OperatingAndFinanceLeaseLiabilityToBePaidYearThree
43953000
CY2021Q3 plug Lessee Operating Lease Liability Payments Due Year Four And After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFourAndAfterYearFour
90241000
CY2021Q3 plug Finance Lease Liability Payments Due Year Four And After Year Four
FinanceLeaseLiabilityPaymentsDueYearFourAndAfterYearFour
10843000
CY2021Q3 plug Operating And Finance Lease Liability To Be Paid Year Four And After Year Four
OperatingAndFinanceLeaseLiabilityToBePaidYearFourAndAfterYearFour
101084000
CY2021Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
220048000
CY2021Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
23859000
CY2021Q3 plug Operating And Finance Lease Liability Payment Due Total
OperatingAndFinanceLeaseLiabilityPaymentDueTotal
243907000
CY2021Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
57364000
CY2021Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
4074000
CY2021Q3 plug Operating And Finance Lease Liability Undiscounted Excess Amount
OperatingAndFinanceLeaseLiabilityUndiscountedExcessAmount
61438000
CY2021Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
162684000
CY2021Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
19785000
CY2021Q3 plug Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
182469000
CY2021Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
9600000
CY2020Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
8100000
us-gaap Operating Lease Expense
OperatingLeaseExpense
25800000
us-gaap Operating Lease Expense
OperatingLeaseExpense
20600000
CY2021Q3 us-gaap Sale And Leaseback Transaction Gain Loss Net
SaleAndLeasebackTransactionGainLossNet
30700000
CY2020Q3 us-gaap Sale And Leaseback Transaction Gain Loss Net
SaleAndLeasebackTransactionGainLossNet
25200000
us-gaap Sale And Leaseback Transaction Gain Loss Net
SaleAndLeasebackTransactionGainLossNet
66100000
us-gaap Sale And Leaseback Transaction Gain Loss Net
SaleAndLeasebackTransactionGainLossNet
44900000
CY2021Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
26600000
CY2020Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
24600000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
62500000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
32700000
CY2021Q3 plug Operating Ease Right Of Use Asset Before Accumulated Amortization
OperatingEaseRightOfUseAssetBeforeAccumulatedAmortization
200200000
CY2020Q4 plug Operating Ease Right Of Use Asset Before Accumulated Amortization
OperatingEaseRightOfUseAssetBeforeAccumulatedAmortization
136900000
CY2021Q3 plug Operating Lease Right Of Use Asset Accumulated Amortization
OperatingLeaseRightOfUseAssetAccumulatedAmortization
32300000
CY2020Q4 plug Operating Lease Right Of Use Asset Accumulated Amortization
OperatingLeaseRightOfUseAssetAccumulatedAmortization
19900000
CY2021Q3 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
22800000
CY2020Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
5700000
CY2021Q3 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
757000
CY2020Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
102000
CY2021Q3 plug Prepaid Rent And Security Deposit
PrepaidRentAndSecurityDeposit
3300000
CY2020Q4 plug Prepaid Rent And Security Deposit
PrepaidRentAndSecurityDeposit
5800000
us-gaap Operating Lease Payments
OperatingLeasePayments
25726000
us-gaap Operating Lease Payments
OperatingLeasePayments
14954000
CY2021Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y8M19D
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y6M18D
CY2021Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.112
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.118
CY2021Q3 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
5800000
CY2020Q3 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
17900000
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
686000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
2128000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
252000
CY2021Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P4Y6M25D
CY2020Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P6Y6M3D
CY2021Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.069
CY2020Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.096
CY2021Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
756841000
CY2021Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
170000
CY2021Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
4245000
CY2021Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
752766000
CY2021Q3 us-gaap Equity Securities Fv Ni Cost
EquitySecuritiesFvNiCost
147933000
us-gaap Equity Securities Fv Ni Unrealized Loss
EquitySecuritiesFvNiUnrealizedLoss
284000
CY2021Q3 us-gaap Equity Securities Fv Ni
EquitySecuritiesFvNi
147649000
CY2021Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
447479000
CY2021Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
446011000
CY2021Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
309362000
CY2021Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
306755000
CY2021Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
756841000
CY2021Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
752766000
CY2021Q3 us-gaap Interest Receivable
InterestReceivable
4900000
CY2021Q3 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
301300000
CY2021Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000

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