PLUG POWER INC

For the period ended Jun 30, 2024. Filed Aug 8, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 8, 2024

PLUG$1.50+3.4%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Condensed Consolidated Statements of Operations

(In thousands, except share and per share amounts)


· Three months ended · · Six months ended
· June 30, · · June 30,
· 2024 · 2023 · 2024 · 2023
Net revenue:
Sales of equipment, related infrastructure and other	$76,788	$216,286	$145,083	$398,380
Services performed on fuel cell systems and related infrastructure	13,034	8,701	26,057	17,798
Power purchase agreements	19,674	16,130	37,978	24,067
Fuel delivered to customers and related equipment	29,887	17,878	48,173	28,020
Other	3,967	1,187	6,323	2,203
Net revenue	143,350	260,182	263,614	470,468
Cost of revenue:
Sales of equipment, related infrastructure and other	129,911	187,408	265,036	345,728
Services performed on fuel cell systems and related infrastructure	13,730	23,449	26,687	35,670
Provision for loss contracts related to service	16,484	7,331	32,229	14,220
Power purchase agreements	54,312	53,976	109,540	100,792
Fuel delivered to customers and related equipment	58,317	64,450	116,890	118,951
Other	1,851	1,711	3,562	2,646
Total cost of revenue	274,605	338,325	553,944	618,007

Gross loss	(131,255)	(78,143)	(290,330)	(147,539)

Operating expenses:
Research and development	18,940	29,251	44,220	55,786
Selling, general and administrative	85,144	101,154	163,103	205,170
Restructuring	1,629	—	7,640	—
Impairment	3,937	9,986	4,221	11,069
Change in fair value of contingent consideration	3,768	15,308	(5,432)	24,077
Total operating expenses	113,418	155,699	213,752	296,102

Operating loss	(244,673)	(233,842)	(504,082)	(443,641)

Interest income	7,795	16,391	17,072	34,023
Interest expense	(9,511)	(11,265)	(20,836)	(21,915)
Other expense, net	(9,080)	(5,082)	(16,076)	(9,853)
Realized gain on investments, net	—	264	—	263
Change in fair value of equity securities	—	3,842	—	8,917
Loss on equity method investments	(7,240)	(7,623)	(20,353)	(12,940)
Loss on extinguishment of convertible senior notes	—	—	(14,047)	—

Loss before income taxes	$(262,709)	$(237,315)	$(558,322)	$(445,146)

Income tax benefit	376	917	213	2,187

Net loss	$(262,333)	$(236,398)	$(558,109)	$(442,959)

Net loss per share:
Basic and diluted	$(0.36)	$(0.40)	$(0.81)	$(0.75)

Weighted average number of common stock outstanding	736,848,684	598,053,390	688,900,904	593,653,720

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.