$PLUG
PLUG POWER INC

2024 Q4 Form 10-Q Financial Statement

#000155837024015312 Filed on November 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $173.7M
YoY Change -12.57%
Cost Of Revenue $273.8M
YoY Change -18.69%
Gross Profit -$100.0M
YoY Change -27.5%
Gross Profit Margin -57.57%
Selling, General & Admin $91.59M
YoY Change -13.15%
% of Gross Profit
Research & Development $19.71M
YoY Change -28.71%
% of Gross Profit
Depreciation & Amortization $21.80M
YoY Change 4.05%
% of Gross Profit
Operating Expenses $116.1M
YoY Change -14.6%
Operating Profit -$216.2M
YoY Change -21.1%
Interest Expense $9.148M
YoY Change -22.49%
% of Operating Profit
Other Income/Expense, Net $15.51M
YoY Change 211.01%
Pretax Income -$211.1M
YoY Change -26.76%
Income Tax $100.0K
% Of Pretax Income
Net Earnings -$211.2M
YoY Change -25.51%
Net Earnings / Revenue -121.55%
Basic Earnings Per Share -$0.25
Diluted Earnings Per Share -$0.25
COMMON SHARES
Basic Shares Outstanding 911.2M 879.6M
Diluted Shares Outstanding 858.4M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $93.94M
YoY Change -81.2%
Cash & Equivalents $93.94M
Short-Term Investments
Other Short-Term Assets $341.6M
YoY Change -22.46%
Inventory $885.8M
Prepaid Expenses
Receivables $167.2M
Other Receivables $0.00
Total Short-Term Assets $1.634B
YoY Change -27.05%
LONG-TERM ASSETS
Property, Plant & Equipment $1.534B
YoY Change 22.48%
Goodwill
YoY Change
Intangibles $175.0M
YoY Change -9.41%
Long-Term Investments $90.15M
YoY Change 47.17%
Other Assets $702.5M
YoY Change -16.61%
Total Long-Term Assets $3.091B
YoY Change -3.78%
TOTAL ASSETS
Total Short-Term Assets $1.634B
Total Long-Term Assets $3.091B
Total Assets $4.725B
YoY Change -13.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $207.2M
YoY Change -29.26%
Accrued Expenses $107.4M
YoY Change -30.09%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due $155.5M
YoY Change 5773.19%
Total Short-Term Liabilities $786.9M
YoY Change -15.44%
LONG-TERM LIABILITIES
Long-Term Debt $456.9M
YoY Change -11.87%
Other Long-Term Liabilities $142.9M
YoY Change 17.6%
Total Long-Term Liabilities $142.9M
YoY Change 17.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $786.9M
Total Long-Term Liabilities $142.9M
Total Liabilities $1.696B
YoY Change -12.73%
SHAREHOLDERS EQUITY
Retained Earnings -$5.259B
YoY Change 38.4%
Common Stock $9.003M
YoY Change 44.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.029B
YoY Change
Total Liabilities & Shareholders Equity $4.725B
YoY Change -13.34%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$211.2M
YoY Change -25.51%
Depreciation, Depletion And Amortization $21.80M
YoY Change 4.05%
Cash From Operating Activities -$174.9M
YoY Change -26.78%
INVESTING ACTIVITIES
Capital Expenditures $89.72M
YoY Change -47.69%
Acquisitions
YoY Change
Other Investing Activities -$155.0K
YoY Change -100.59%
Cash From Investing Activities -$89.87M
YoY Change -38.02%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 252.4M
YoY Change -2354.39%
NET CHANGE
Cash From Operating Activities -174.9M
Cash From Investing Activities -89.87M
Cash From Financing Activities 252.4M
Net Change In Cash -12.38M
YoY Change -96.87%
FREE CASH FLOW
Cash From Operating Activities -$174.9M
Capital Expenditures $89.72M
Free Cash Flow -$264.7M
YoY Change -35.51%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Entity Central Index Key
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dei Current Fiscal Year End Date
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--12-31
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dei Entity Address State Or Province
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dei Entity File Number
EntityFileNumber
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dei Entity Registrant Name
EntityRegistrantName
PLUG POWER INC
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
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dei Entity Address Address Line1
EntityAddressAddressLine1
125 VISTA BOULEVARD
dei Entity Address City Or Town
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SLINGERLANDS
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dei City Area Code
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518
dei Local Phone Number
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782-7700
dei Security12b Title
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Common Stock, par value $.01 per share
dei Trading Symbol
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PLUG
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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 Inc. (the “Company”, “Plug”, “we” or “our”) is facilitating the paradigm shift to an increasingly electrified world by innovating cutting-edge hydrogen and fuel cell solutions. While we continue to develop commercially viable hydrogen and fuel cell product solutions, we have expanded our offerings to support a variety of commercial operations that can be powered with clean hydrogen. We provide electrolyzers that allow customers — such as refineries, producers of chemicals, steel, fertilizer and commercial refueling stations — to generate hydrogen on-site. We are focusing our efforts on (a) 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; (b) production of hydrogen; and (c) stationary power systems that will support critical operations, such as data centers, microgrids, and generation facilities, in either a backup power or continuous power role, and replace batteries, diesel generators or the grid for telecommunication logistics, transportation, and utility customers. Plug expects to support these products and customers with an ecosystem of vertically integrated products that produce, transport, store and handle, dispense, and use hydrogen for mobility and power applications.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;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;"><b style="font-weight:bold;">Liquidity and Capital Resources</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;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;">The Company’s working capital was $847.1 million as of September 30, 2024, which included unrestricted cash and cash equivalents of $93.9 million and restricted cash of $906.3 million. On January 17, 2024, the Company entered into the At Market Issuance Sales Agreement (the “Original ATM Agreement”) with B. Riley Securities, Inc. (“B. Riley”), pursuant to which the Company may, from time to time, offer and sell through or to B. Riley, as sales agent or principal, shares of the Company’s common stock, having an aggregate gross sales price of up to $1.0 billion. As of February 23, 2024, the Company had $697.9 million remaining authorized for issuance under the Original ATM Agreement. On February 23, 2024, the Company and B. Riley entered into Amendment No. 1 to the Original ATM Agreement (“Amendment No. 1” and, together with the Original ATM Agreement, the “ATM Agreement”) to increase the aggregate gross sales price of shares of the Company’s common stock available for future issuance under the Original ATM Agreement to $1.0 billion. Under the ATM Agreement, the Company has the right at its sole discretion to direct B. Riley to act on a principal basis and purchase directly from the Company up to $11.0 million of shares of its common stock on any trading day (the “Maximum Commitment Advance Purchase Amount”) if the Company’s market capitalization is more than $1.0 billion (or up to $10.0 million if the Company’s market capitalization is less than $1.0 billion) and up to $55.0 million of shares in any calendar week (the “Maximum Commitment Advance Purchase Amount Cap”) if the Company’s market capitalization is more than $1.0 billion (or up to $30.0 million if the Company’s market capitalization is less than $1.0 billion). As of November 7, 2024, the Company had offered and sold 219,835,221 shares of common stock having an aggregate gross sales price of approximately $677.2 million under the ATM Agreement and shares of the Company’s common stock having an aggregate gross sales price of approximately $624.8 million remained available for issuance and sale under the ATM Agreement.</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;">On November 7, 2024, the Company entered into Amendment No. 2 to the Original ATM Agreement (“Amendment No. 2” and together with the ATM Agreement, the “Amended ATM Agreement”) with B. Riley. Amendment No. 2 increased the aggregate gross sales price of the Company’s common stock the Company may offer and sell pursuant to the Amended ATM Agreement by approximately $375.2 million to $1.0 billion. From and after November 7, 2024, through and including February 7, 2025, the Company has the right at its sole discretion to direct B. Riley to act on a principal basis and purchase from the Company up to the Maximum Commitment Advance Purchase Amount of $11.0 million and up to the Maximum Commitment Advance Purchase Amount Cap of $55.0 million (including any shares sold by B. Riley in agency transactions) in any calendar week. If the Company’s market capitalization is less than $1.0 billion on and after February 8, 2025, the Maximum Commitment Advance Purchase Amount shall be decreased to $10.0 million and the Maximum Commitment Advance Purchase Amount Cap shall be decreased to $30.0 million.</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;">On November 11, 2024, the Company entered into a Debenture Purchase Agreement with YA II PN, Ltd. under which the Company agreed to sell and issue to the Investor an unsecured convertible debenture in aggregate principal amount of $200.0 million in exchange for the payment by the Investor to the Company of $190.0 million. The Company </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">expects to close the issuance of the Convertible Debenture on or about November 12, 2024, subject to customary closing conditions. For more information, see Note 24, “Subsequent Events”.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;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;">On July 22, 2024, the Company sold 78,740,157 shares of its common stock at a public offering price of $2.54 per share for net proceeds of $191.0 million after deducting the underwriting discount and related offering expenses.</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;">The Company believes that its working capital and cash position, together with its right to direct B. Riley to purchase shares directly from the Company under the Amended ATM Agreement, will be sufficient to fund its on-going operations for a period of at least 12 months subsequent to the issuance of the accompanying unaudited interim condensed consolidated financial statements.</p>
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81066000
us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
37997000
CY2023 us-gaap Loss Contingency Accrual Provision
LossContingencyAccrualProvision
85375000
plug Loss Contingency Accrual Payments Related To Service Cost Of Sales
LossContingencyAccrualPaymentsRelatedToServiceCostOfSales
38823000
CY2023 plug Loss Contingency Accrual Payments Related To Service Cost Of Sales
LossContingencyAccrualPaymentsRelatedToServiceCostOfSales
29713000
plug Loss Contingency Accrual Payments Related To Provision For Warrants
LossContingencyAccrualPaymentsRelatedToProvisionForWarrants
268000
CY2023 plug Loss Contingency Accrual Payments Related To Provision For Warrants
LossContingencyAccrualPaymentsRelatedToProvisionForWarrants
971000
plug Loss Contingency Accrual Related To Foreign Currency Translation Adjustment
LossContingencyAccrualRelatedToForeignCurrencyTranslationAdjustment
214000
CY2023 plug Loss Contingency Accrual Related To Foreign Currency Translation Adjustment
LossContingencyAccrualRelatedToForeignCurrencyTranslationAdjustment
154000
CY2024Q3 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
137509000
CY2023Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
137853000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
164688972
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
160456920
CY2024Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1726500
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
2255096
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
9147125
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
9131689
CY2024Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
3461371
CY2024Q3 plug Inventory Raw Materials And Supplies Production Locations Net Of Reserves
InventoryRawMaterialsAndSuppliesProductionLocationsNetOfReserves
522332000
CY2023Q4 plug Inventory Raw Materials And Supplies Production Locations Net Of Reserves
InventoryRawMaterialsAndSuppliesProductionLocationsNetOfReserves
564818000
CY2024Q3 plug Inventory Raw Materials And Supplies Customer Locations Net Of Reserves
InventoryRawMaterialsAndSuppliesCustomerLocationsNetOfReserves
26988000
CY2023Q4 plug Inventory Raw Materials And Supplies Customer Locations Net Of Reserves
InventoryRawMaterialsAndSuppliesCustomerLocationsNetOfReserves
20751000
CY2024Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
146441000
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
149574000
CY2024Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
190003000
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
226110000
CY2024Q3 us-gaap Inventory Net
InventoryNet
885764000
CY2023Q4 us-gaap Inventory Net
InventoryNet
961253000
CY2024Q3 us-gaap Inventory Adjustments
InventoryAdjustments
89500000
CY2023Q4 us-gaap Inventory Adjustments
InventoryAdjustments
85200000
CY2024Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1652567000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1517633000
CY2024Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
118511000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
81456000
CY2024Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1534056000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1436177000
plug Number Of Hydrogen Production Plant
NumberOfHydrogenProductionPlant
3
CY2024Q3 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
3100000
CY2023Q3 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
2000000.0
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
8300000
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
6000000.0
CY2024Q3 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
12600000
CY2023Q3 us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
10200000
us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
37300000
us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
23000000.0
CY2024Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
236617000
CY2024Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
61611000
CY2024Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
175006000
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
236041000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
47155000
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
188886000
CY2024Q3 plug Amortization Of Acquired Intangible Assets
AmortizationOfAcquiredIntangibleAssets
4800000
CY2023Q3 plug Amortization Of Acquired Intangible Assets
AmortizationOfAcquiredIntangibleAssets
4400000
plug Amortization Of Acquired Intangible Assets
AmortizationOfAcquiredIntangibleAssets
14200000
plug Amortization Of Acquired Intangible Assets
AmortizationOfAcquiredIntangibleAssets
14200000
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
4724000
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
18228000
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
16603000
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
16596000
CY2024Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
16187000
CY2024Q3 plug Finite Lived Intangible Assets Amortization Expense Year Five And After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFiveAndAfterYearFive
102668000
CY2024Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
175006000
CY2024Q3 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
23699000
CY2023Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
32584000
CY2024Q3 plug Accrued Expenses On Capital Projects
AccruedExpensesOnCapitalProjects
16378000
CY2023Q4 plug Accrued Expenses On Capital Projects
AccruedExpensesOnCapitalProjects
83781000
CY2024Q3 plug Accrued Accounts Payable Current
AccruedAccountsPayableCurrent
40249000
CY2023Q4 plug Accrued Accounts Payable Current
AccruedAccountsPayableCurrent
64767000
CY2024Q3 us-gaap Taxes Payable Current
TaxesPayableCurrent
22301000
CY2023Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
17207000
CY2024Q3 us-gaap Interest Payable Current
InterestPayableCurrent
4107000
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
562000
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
668000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1643000
CY2024Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
107402000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
200544000
CY2024Q3 us-gaap Long Term Debt
LongTermDebt
3900000
CY2024Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
4900000
CY2024Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
1000000.0
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
2757000
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
1200000
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
900000
CY2024Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
4857000
CY2024Q3 us-gaap Debt Instrument Interest Rate Stated Percentage
DebtInstrumentInterestRateStatedPercentage
0.0700
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
0
CY2024Q3 us-gaap Revenues
Revenues
173730000
CY2023Q3 us-gaap Revenues
Revenues
198711000
us-gaap Revenues
Revenues
437344000
us-gaap Revenues
Revenues
669179000
plug Contract With Customer Asset Increase Decrease For Cash Received
ContractWithCustomerAssetIncreaseDecreaseForCashReceived
-19936000
CY2023 plug Contract With Customer Asset Increase Decrease For Cash Received
ContractWithCustomerAssetIncreaseDecreaseForCashReceived
-151965000
plug Contract With Customer Liability Increase Decrease Related To Warrants
ContractWithCustomerLiabilityIncreaseDecreaseRelatedToWarrants
-330000
CY2023 plug Contract With Customer Liability Increase Decrease Related To Warrants
ContractWithCustomerLiabilityIncreaseDecreaseRelatedToWarrants
-440000
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
116694000
CY2023 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
94001000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-96428000
CY2023 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
58404000
CY2024Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
995502000
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
100000
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4700000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-100000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-6900000
plug Fair Value Assets And Liabilities Transfers Between Level1 Level2 Level3 Amount
FairValueAssetsAndLiabilitiesTransfersBetweenLevel1Level2Level3Amount
0
CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
126216000
CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
10000000
CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
-9200000
CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Other Comprehensive Income
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInOtherComprehensiveIncome
690000
CY2024Q1 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
106326000
CY2024Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
1000000
CY2024Q2 plug Shares Issued During Period Value Earnouts From Prior Acquisitions Paid In Stock
SharesIssuedDuringPeriodValueEarnoutsFromPriorAcquisitionsPaidInStock
18241000
CY2024Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
3768000
CY2024Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Other Comprehensive Income
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInOtherComprehensiveIncome
233000
CY2024Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
90620000
CY2024Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Settlements
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilitySettlements
57000
CY2024Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Earnings
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInEarnings
146000
CY2024Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Gain Loss Included In Other Comprehensive Income
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityGainLossIncludedInOtherComprehensiveIncome
-1278000
CY2024Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
91987000
CY2024Q3 us-gaap Equity Method Investments
EquityMethodInvestments
90148000
CY2023Q4 us-gaap Equity Method Investments
EquityMethodInvestments
56096000
CY2024Q3 plug Equity Method Investment Capital Commitment Due Remainder Of Fiscal Year
EquityMethodInvestmentCapitalCommitmentDueRemainderOfFiscalYear
38900000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
25078000
CY2024Q3 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
2978000
CY2024Q3 plug Operating And Finance Lease Liability To Be Paid Remainder Year One
OperatingAndFinanceLeaseLiabilityToBePaidRemainderYearOne
28056000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
95840000
CY2024Q3 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
14792000
CY2024Q3 plug Operating And Finance Lease Liability To Be Paid Next Twelve Months
OperatingAndFinanceLeaseLiabilityToBePaidNextTwelveMonths
110632000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
86964000
CY2024Q3 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
11934000
CY2024Q3 plug Operating And Finance Lease Liability To Be Paid Year Two
OperatingAndFinanceLeaseLiabilityToBePaidYearTwo
98898000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
73267000
CY2024Q3 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
8256000
CY2024Q3 plug Operating And Finance Lease Liability To Be Paid Year Three
OperatingAndFinanceLeaseLiabilityToBePaidYearThree
81523000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
50874000
CY2024Q3 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
1941000
CY2024Q3 plug Operating And Finance Lease Liability To Be Paid Year Four
OperatingAndFinanceLeaseLiabilityToBePaidYearFour
52815000
CY2024Q3 plug Lessee Operating Lease Liability Payments Due Year Five And After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFiveAndAfterYearFive
151713000
CY2024Q3 plug Finance Lease Liability Payments Due Year Five And After Year Five
FinanceLeaseLiabilityPaymentsDueYearFiveAndAfterYearFive
3299000
CY2024Q3 plug Operating And Finance Lease Liability To Be Paid Year Five And After Year Five
OperatingAndFinanceLeaseLiabilityToBePaidYearFiveAndAfterYearFive
155012000
CY2024Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
483736000
CY2024Q3 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
43200000
CY2024Q3 plug Operating And Finance Lease Liability Payment Due Total
OperatingAndFinanceLeaseLiabilityPaymentDueTotal
526936000
CY2024Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
167572000
CY2024Q3 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
5244000
CY2024Q3 plug Operating And Finance Lease Liability Undiscounted Excess Amount
OperatingAndFinanceLeaseLiabilityUndiscountedExcessAmount
172816000
CY2024Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
316164000
CY2024Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
37956000
CY2024Q3 plug Operating And Finance Lease Liability
OperatingAndFinanceLeaseLiability
354120000
CY2024Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
26000000.0
CY2023Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
25000000.0
us-gaap Operating Lease Expense
OperatingLeaseExpense
78200000
us-gaap Operating Lease Expense
OperatingLeaseExpense
70200000
us-gaap Operating Lease Payments
OperatingLeasePayments
75057000
us-gaap Operating Lease Payments
OperatingLeasePayments
66970000
CY2024Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y1M20D
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y3D
CY2024Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.113
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.113
CY2024Q3 plug Finance Lease Right Of Use Asset Amortization And Interest Expense
FinanceLeaseRightOfUseAssetAmortizationAndInterestExpense
1800000
CY2023Q3 plug Finance Lease Right Of Use Asset Amortization And Interest Expense
FinanceLeaseRightOfUseAssetAmortizationAndInterestExpense
1900000
plug Finance Lease Right Of Use Asset Amortization And Interest Expense
FinanceLeaseRightOfUseAssetAmortizationAndInterestExpense
5500000
plug Finance Lease Right Of Use Asset Amortization And Interest Expense
FinanceLeaseRightOfUseAssetAmortizationAndInterestExpense
5600000
CY2024Q3 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
52900000
CY2023Q4 us-gaap Finance Lease Right Of Use Asset Before Accumulated Amortization
FinanceLeaseRightOfUseAssetBeforeAccumulatedAmortization
57300000
CY2024Q3 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
12000000.0
CY2023Q4 us-gaap Finance Lease Right Of Use Asset Accumulated Amortization
FinanceLeaseRightOfUseAssetAccumulatedAmortization
9000000.0
plug Finance Lease Payments Operating Cash Flow
FinanceLeasePaymentsOperatingCashFlow
2119000
plug Finance Lease Payments Operating Cash Flow
FinanceLeasePaymentsOperatingCashFlow
2329000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
6988000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
6345000
CY2024Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y3M10D
CY2023Q3 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P3Y3M3D
CY2024Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.068
CY2023Q3 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.069
CY2024Q3 us-gaap Sale And Leaseback Transaction Gain Loss Net
SaleAndLeasebackTransactionGainLossNet
0
CY2024Q3 plug Finance Obligation Future Minimum Payments Due Remainder Of Fiscal Year
FinanceObligationFutureMinimumPaymentsDueRemainderOfFiscalYear
32881000
CY2024Q3 plug Finance Obligation Due In Next Twelve Months
FinanceObligationDueInNextTwelveMonths
120100000
CY2024Q3 plug Finance Obligation Due In Second Year
FinanceObligationDueInSecondYear
101778000
CY2024Q3 plug Finance Obligation Due In Third Year
FinanceObligationDueInThirdYear
85207000
CY2024Q3 plug Finance Obligation Due In Fourth Year
FinanceObligationDueInFourthYear
64929000
CY2024Q3 plug Finance Obligation Due In Fifth Year And Thereafter
FinanceObligationDueInFifthYearAndThereafter
47541000
CY2024Q3 plug Finance Obligation Payments Due
FinanceObligationPaymentsDue
452436000
CY2024Q3 plug Finance Obligation Imputed Interest
FinanceObligationImputedInterest
124442000
CY2024Q3 plug Financing Transaction Finance Obligation Amount Excluding Portion To Be Written Off
FinancingTransactionFinanceObligationAmountExcludingPortionToBeWrittenOff
327994000
plug Finance Obligations Payments
FinanceObligationsPayments
86397000
plug Finance Obligations Payments
FinanceObligationsPayments
76747000
plug Finance Obligations Weighted Average Remaining Term
FinanceObligationsWeightedAverageRemainingTerm
P4Y3M
plug Finance Obligations Weighted Average Remaining Term
FinanceObligationsWeightedAverageRemainingTerm
P4Y7M13D
CY2024Q3 plug Finance Obligations Weighted Average Discount Rate
FinanceObligationsWeightedAverageDiscountRate
0.123
CY2023Q3 plug Finance Obligations Weighted Average Discount Rate
FinanceObligationsWeightedAverageDiscountRate
0.113
CY2024Q3 us-gaap Security Deposit
SecurityDeposit
307900000
CY2023Q4 us-gaap Security Deposit
SecurityDeposit
370700000
CY2024Q3 us-gaap Escrow Deposit
EscrowDeposit
80000000.0
CY2023Q4 us-gaap Escrow Deposit
EscrowDeposit
76800000
CY2024Q3 us-gaap Litigation Reserve
LitigationReserve
600000
CY2024Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000
CY2023Q2 us-gaap Guarantee Obligations Current Carrying Value
GuaranteeObligationsCurrentCarryingValue
20000000
plug Payments Related To Guarantor Obligations
PaymentsRelatedToGuarantorObligations
0
CY2024Q3 us-gaap Recorded Unconditional Purchase Obligation Due In Remainder Of Fiscal Year
RecordedUnconditionalPurchaseObligationDueInRemainderOfFiscalYear
25989000
CY2024Q3 us-gaap Recorded Unconditional Purchase Obligation Due Within One Year
RecordedUnconditionalPurchaseObligationDueWithinOneYear
8023000
CY2024Q3 us-gaap Recorded Unconditional Purchase Obligation Due In Second Year
RecordedUnconditionalPurchaseObligationDueInSecondYear
8023000
CY2024Q3 us-gaap Recorded Unconditional Purchase Obligation Due In Third Year
RecordedUnconditionalPurchaseObligationDueInThirdYear
2638000
CY2024Q3 us-gaap Recorded Unconditional Purchase Obligation
RecordedUnconditionalPurchaseObligation
44673000
CY2024Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
21271000
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
42442000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
54389000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
119491000
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2024Q3 us-gaap Revenues
Revenues
173730000
CY2023Q3 us-gaap Revenues
Revenues
198711000
us-gaap Revenues
Revenues
437344000
us-gaap Revenues
Revenues
669179000
CY2024Q3 us-gaap Noncurrent Assets
NoncurrentAssets
2090250000
CY2023Q4 us-gaap Noncurrent Assets
NoncurrentAssets
2004688000
CY2024Q3 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
500000
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
8200000
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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Financial_Report.xlsx Edgar Link pending
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