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PLUG • CIK 0001093691
| (in thousands, except per share data) | FY 2023 | FY 2024 | FY 2025 | TTM |
|---|---|---|---|---|
| Gross Profit | $-507,791 | $-624,887 | $-242,040 | $-137,996 |
| Operating Income (Loss) | $-1,343,523 | $-2,019,844 | $-1,467,385 | $-1,285,580 |
| Investment Income, Interest | — | — | $19,429 | $14,868 |
| Interest Expense | $45,201 | $46,622 | $65,127 | $71,943 |
| Other Nonoperating Income (Expense) | $-131 | $-19,963 | $7,609 | $-3,611 |
| Gain (Loss) on Investments | — | — | $-12,806 | $-12,806 |
| Equity Securities, FV-NI, Unrealized Gain (Loss) | $11,421 | $11,421 | $11,421 | $11,421 |
| Gain (Loss) on Extinguishment of Debt | $-986 | $-16,278 | $-31,501 | $-20,659 |
| Fair Value Adjustment of Warrants | — | — | $-128,101 | $-128,101 |
| Income (Loss) from Equity Method Investments | $-41,786 | $-32,177 | $-55,061 | $-7,986 |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | $-1,376,197 | $-2,107,591 | $-1,693,312 | $-1,703,629 |
| Income Tax Expense (Benefit) | $-7,364 | $-2,686 | $356 | $592 |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $-1,368,833 | $-2,104,905 | $-1,693,668 | $-1,704,221 |
| Net Income (Loss) Attributable to Noncontrolling Interest | — | $-204 | $-62,074 | $-62,871 |
| Net Income (Loss) Attributable to Parent | $-1,368,833 | $-2,104,701 | $-1,631,594 | $-1,641,350 |
| Revenues | $891,340 | $628,814 | $709,919 | $744,087 |
| Cost of Revenue | $1,399,131 | $1,253,701 | $951,959 | $882,083 |
| Research and Development Expense | $113,745 | $77,226 | $57,960 | $53,943 |
| Selling, General and Administrative Expense | $422,469 | $376,110 | $379,570 | $310,313 |
| Restructuring and Related Cost, Incurred Cost | — | $8,153 | $25,857 | $7,348 |
| Asset Impairment Charges | $3,100 | $949,300 | $785,444 | $787,002 |
| Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $30,024 | $-15,847 | $-23,486 | $-11,022 |
| Operating Expenses | $835,732 | $1,394,957 | $1,225,345 | $1,147,584 |
| Weighted Average Number of Shares Outstanding, Basic | 595,468,419 | 785,024,373 | 1,146,691,189 | 1,500,440,722 |
| (in thousands, except per share data) | FY 2023 | FY 2024 | FY 2025 | TTM |
|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | $135,033 | $205,693 | $368,540 | $161,894 |
| Restricted Cash and Investments, Current | $216,552 | $198,008 | $186,746 | $155,523 |
| Restricted Cash and Investments, Noncurrent | $817,559 | $637,008 | $438,698 | $354,111 |
| Accounts Receivable, after Allowance for Credit Loss, Current | $243,811 | $157,244 | $134,758 | $125,861 |
| Property, Plant and Equipment, Net | $1,436,177 | $866,329 | $281,001 | $243,995 |
| Inventory, Net | $961,253 | $682,642 | $520,968 | $493,445 |
| Finance Lease, Right-of-Use Asset, after Accumulated Amortization | $57,281 | $51,822 | $44,852 | $35,938 |
| Contract with Customer, Asset, after Allowance for Credit Loss, Current | $126,248 | $94,052 | $105,268 | $103,178 |
| Operating Lease, Right-of-Use Asset | $399,969 | $218,081 | $182,206 | $157,370 |
| Prepaid Expense and Other Assets, Current | $104,068 | $139,845 | $93,988 | $106,436 |
| Assets, Current | $1,786,965 | $1,477,484 | $1,410,268 | $1,146,337 |
| Contract with Customer, Asset, after Allowance for Credit Loss, Noncurrent | $29,741 | $23,963 | $24,137 | $18,493 |
| Intangible Assets, Net (Excluding Goodwill) | $188,886 | $84,660 | $29,228 | $27,292 |
| Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | $63,783 | $85,494 | $46,909 | $50,705 |
| Other Assets | $11,116 | $13,933 | $14,343 | $15,975 |
| Assets | $4,902,738 | $3,602,846 | $2,594,568 | $2,192,566 |
| Deferred Revenue, Noncurrent | $84,163 | $58,532 | $34,203 | $26,145 |
| Operating Lease, Liability, Noncurrent | $292,002 | $242,148 | $194,709 | $158,512 |
| Finance Lease, Liability, Noncurrent | $36,133 | $22,778 | $17,627 | $19,343 |
| Warrants and Rights Outstanding | — | — | $52,323 | $136,254 |
| Convertible Notes Payable, Noncurrent | $195,264 | $321,060 | $431,014 | $577,998 |
| Business Combination, Contingent Consideration, Liability, Noncurrent | — | — | $57,678 | $35,750 |
| Liabilities | $2,004,613 | $1,795,090 | $1,591,254 | $1,605,276 |
| Accounts Payable, Current | $257,828 | $180,966 | $168,744 | $144,259 |
| Accrued Liabilities, Current | $200,544 | $103,145 | $128,010 | $105,692 |
| Deferred Revenue, Current | $204,139 | $144,093 | $66,742 | $60,304 |
| Operating Lease, Liability, Current | $63,691 | $71,250 | $70,407 | $56,200 |
| Finance Lease, Liability, Current | $9,441 | $12,802 | $10,934 | $9,523 |
| Convertible Notes Payable, Current | — | $58,273 | $2,583 | $2,495 |
| Business Combination, Contingent Consideration, Liability, Current | — | — | $86,382 | $59,921 |
| Liabilities, Current | $964,800 | $748,489 | $610,588 | $493,883 |
| Common Stock, Value, Issued | $6,254 | $9,342 | $13,943 | $13,980 |
| Additional Paid in Capital | $7,494,685 | $8,430,537 | $9,186,314 | $9,227,977 |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $-6,802 | $-2,502 | $6,796 | $2,450 |
| Retained Earnings (Accumulated Deficit) | $-4,489,744 | $-6,594,445 | $-8,226,039 | $-8,659,550 |
| Treasury Stock, Common, Value | $106,268 | $108,795 | $2,945 | $3,104 |
| Stockholders' Equity Attributable to Parent | $2,898,125 | $1,734,137 | $978,069 | $581,753 |
| Stockholders' Equity Attributable to Noncontrolling Interest | — | $73,619 | $25,245 | $5,537 |
| Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | — | $1,807,756 | $1,003,314 | $587,290 |
| Accounts Receivable, Allowance for Credit Loss, Current | — | — | $46,805 | $39,278 |
| Common Stock, Shares Authorized | 1,500,000,000 | 1,500,000,000 | 1,500,000,000 | 3,000,000,000 |
| Common Stock, Shares, Issued | 625,305,025 | 934,126,897 | 1,394,241,538 | 1,397,924,047 |
| Treasury Stock, Common, Shares | 19,169,366 | 20,230,043 | 970,588 | 1,025,649 |
| (in thousands, except per share data) | FY 2023 | FY 2024 | FY 2025 | TTM |
|---|---|---|---|---|
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations | $-7,799 | $19,402 | $-1,835 | $1,204 |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $-555,597 | $70,660 | $162,847 | $21,158 |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $1,169,144 | $1,040,709 | $993,984 | $719,387 |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $-1,368,833 | $-2,104,905 | $-1,693,668 | $-1,704,221 |
| Payments to Acquire Property, Plant, and Equipment | $665,208 | $287,098 | $111,164 | $40,806 |
| Payments to Acquire Equipment on Lease | $30,918 | $47,150 | $14,476 | $37,131 |
| Proceeds from Sale of Productive Assets | $1,104 | $500 | $500 | $500 |
| Proceeds from Sale of Debt Securities, Available-for-sale | $345,264 | $345,264 | $345,264 | $345,264 |
| Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale | $1,006,161 | $1,006,161 | $1,006,161 | $1,006,161 |
| ProceedsFromSaleOfEquitySecuritiesFvNi | $144,250 | $144,250 | $144,250 | $144,250 |
| Proceeds from Sale of Equity Method Investments | — | — | $6,500 | $6,500 |
| Net Cash Provided by (Used in) Investing Activities | $728,052 | $-402,364 | $-139,008 | $-59,884 |
| Payment for Contingent Consideration Liability, Financing Activities | $10,105 | $19,901 | $18,602 | $18,602 |
| Proceeds from Issuance of Common Stock | $3,587,833 | $857,872 | $322,353 | $322,353 |
| Payment, Tax Withholding, Share-based Payment Arrangement | $10,007 | $2,527 | $3,646 | $3,598 |
| Proceeds from Noncontrolling Interests | — | $10,163 | $1,780 | $1,330 |
| Proceeds from Warrant Exercises | $15,445 | — | — | $15,445 |
| Proceeds from Convertible Debt | — | $190,000 | $399,984 | $399,984 |
| Payment for Debt Extinguishment or Debt Prepayment Cost | — | — | $17,802 | $17,802 |
| Proceeds from Issuance of Secured Debt | — | — | $243,306 | $243,306 |
| Repayments of Long-term Debt | — | $3,526 | $263,877 | $263,881 |
| Proceeds from Issuance of Debt | $104,251 | $60,287 | $60,287 | $60,287 |
| Net Cash Provided by (Used in) Financing Activities | $6,117 | $983,170 | $629,953 | $335,969 |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $41,811 | $44,962 | $59,673 | $63,467 |
| Contribution of Property | — | — | $2,833 | $2,833 |
| Capital Expenditures Incurred but Not yet Paid | $160,578 | $54,948 | $25,845 | $7,316 |
| Depreciation | $51,986 | $61,115 | $37,610 | $25,571 |
| Amortization of Intangible Assets | $19,097 | $23,441 | $6,950 | $4,764 |
| Inventory Write-down | $93,742 | $171,980 | $97,062 | $91,062 |
| Share-based Payment Arrangement, Noncash Expense | $162,908 | $82,203 | $50,545 | $53,266 |
| Accounts Receivable, Credit Loss Expense (Reversal) | $8,407 | $28,914 | $28,455 | $26,177 |
| Amortization of Debt Issuance Costs and Discounts | — | $-2,826 | $1,256 | $3,551 |
| Asset Impairment Charges | $3,100 | $949,300 | $785,444 | $787,002 |
| Gain (Loss) on Disposition of Property Plant Equipment | $-268 | $-2,885 | $-2,885 | $-2,885 |
| Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | $30,024 | $-15,847 | $-23,486 | $-11,022 |
| Debt Securities, Available-for-sale, Realized Gain (Loss) | $-12,806 | $-12,806 | $-12,806 | $-12,806 |
| Investment Income, Net, Amortization of Discount and Premium | $6,610 | $6,610 | $6,610 | $6,610 |
| Increase (Decrease) in Equity Securities, FV-NI | $11,421 | $11,421 | $11,421 | $11,421 |
| Income (Loss) from Equity Method Investments | $-41,786 | $-32,177 | $-55,061 | $-7,986 |
| Derivative, Gain (Loss) on Derivative, Net | — | $-1,665 | $-1,665 | $-1,665 |
| Increase (Decrease) in Accounts Receivable | $122,768 | $-57,653 | $5,351 | $12,677 |
| Increase (Decrease) in Inventories | $408,631 | $-129,291 | $-51,894 | $-39,068 |
| Increase (Decrease) in Contract with Customer, Asset | $40,258 | $2,493 | $42,016 | $43,748 |
| Increase (Decrease) in Prepaid Expense and Other Assets | $-32,549 | $31,175 | $-24,779 | $28,101 |
| Increase (Decrease) in Accounts Payable and Accrued Liabilities | $21,722 | $-59,464 | $83,678 | $38,361 |
| Net Cash Provided by (Used in) Operating Activities | $-1,106,570 | $-728,643 | $-535,835 | $-482,562 |
| Interest Paid, Capitalized, Investing Activities | $8,100 | $8,300 | $14,800 | $5,900 |