PLUG POWER INC

For the period ended Sep 30, 2024. Filed Nov 12, 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.

Sep 30, 2024 · Filed Nov 12, 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 · · Nine months ended
· September 30, · · September 30,
· 2024 · 2023 · 2024 · 2023
Net revenue:
Sales of equipment, related infrastructure and other	$107,141	$145,130	$252,224	$543,510
Services performed on fuel cell systems and related infrastructure	14,148	9,290	40,205	27,088
Power purchase agreements	20,459	20,068	58,437	44,135
Fuel delivered to customers and related equipment	29,791	19,371	77,964	47,391
Other	2,191	4,852	8,514	7,055
Net revenue	173,730	198,711	437,344	669,179
Cost of revenue:
Sales of equipment, related infrastructure and other	149,912	158,989	414,948	504,717
Services performed on fuel cell systems and related infrastructure	9,086	17,916	35,773	53,586
Provision for loss contracts related to service	6,036	41,581	38,265	55,801
Power purchase agreements	51,782	56,981	161,322	157,773
Fuel delivered to customers and related equipment	55,538	59,012	172,428	177,963
Other	1,401	2,197	4,963	4,843
Total cost of revenue	273,755	336,676	827,699	954,683

Gross loss	(100,025)	(137,965)	(390,355)	(285,504)

Operating expenses:
Research and development	19,712	27,651	63,932	83,437
Selling, general and administrative	91,586	105,451	254,689	310,621
Restructuring	514	—	8,154	—
Impairment	4,185	665	8,406	11,734
Change in fair value of contingent consideration	146	2,239	(5,286)	26,316
Total operating expenses	116,143	136,006	329,895	432,108

Operating loss	(216,168)	(273,971)	(720,250)	(717,612)

Interest income	7,423	10,369	24,495	44,392
Interest expense	(9,148)	(11,802)	(29,984)	(33,717)
Other income/(expense), net	15,510	4,987	(566)	(4,866)
Realized gain on investments, net	—	—	—	263
Other-than-temporary impairment of available-for-sale securities	—	(10,831)	—	(10,831)
Change in fair value of equity securities	—	70	—	8,987
Loss on equity method investments	(8,690)	(7,030)	(29,043)	(19,970)
Loss on extinguishment of convertible senior notes	—	—	(14,047)	—

Loss before income taxes	$(211,073)	$(288,208)	$(769,395)	$(733,354)

Income tax (expense)/benefit	(95)	4,729	118	6,916

Net loss	$(211,168)	$(283,479)	$(769,277)	$(726,438)

Net loss per share:
Basic and diluted	$(0.25)	$(0.47)	$(1.03)	$(1.22)

Weighted average number of common stock outstanding	858,442,951	599,465,146	745,827,431	593,417,595

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.