XML 40 R4.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Net revenue:      
Net revenue $ 628,814 $ 891,340 $ 701,440
Cost of revenue:      
Provision for loss contracts related to service 48,539 86,346 26,801
Total cost of revenue 1,253,701 1,399,131 895,796
Gross loss (624,887) (507,791) (194,356)
Operating expenses:      
Research and development 77,226 113,745 99,579
Selling, general and administrative 376,110 422,469 363,929
Restructuring 8,153    
Impairment 949,315 269,494 5,218
Impairment of goodwill   249,500  
Change in fair value of contingent consideration (15,847) 30,024 16,468
Total operating expenses 1,394,957 835,732 485,194
Operating loss (2,019,844) (1,343,523) (679,550)
Interest income 30,717 55,829 37,259
Interest expense (46,622) (45,201) (39,037)
Other expense, net (19,963) (131) (1,135)
Realized loss on investments, net   (12,806) (1,395)
Change in fair value of equity securities   11,421 (18,159)
Loss on extinguishment of convertible senior notes and debt (16,278)   (986)
Change in fair value of convertible senior note (3,424)    
Loss on equity method investments (32,177) (41,786) (20,166)
Loss before income taxes (2,107,591) (1,376,197) (723,169)
Income tax benefit/(expense) 2,686 7,364 (839)
Net loss (2,104,905) (1,368,833) (724,008)
Net loss attributable to non-controlling interests (204)    
Net loss attributable to Plug Power Inc. $ (2,104,701) $ (1,368,833) $ (724,008)
Net loss per share attributable to Plug Power Inc.:      
Net loss per share, basic (in dollars per share) $ (2.68) $ (2.3) $ (1.25)
Net loss per share, diluted (in dollars per share) $ (2.68) $ (2.3) $ (1.25)
Weighted average number of common stock outstanding, basic (in shares) 785,024,373 595,468,419 579,716,708
Weighted average number of common stock outstanding, diluted (in shares) 785,024,373 595,468,419 579,716,708
Sales of equipment, related infrastructure and other      
Net revenue:      
Net revenue $ 390,335 $ 711,433 $ 558,932
Cost of revenue:      
Cost of revenue 696,087 765,575 468,057
Services performed on fuel cell systems and related infrastructure      
Net revenue:      
Net revenue 52,169 39,093 35,280
Cost of revenue:      
Cost of revenue 57,766 75,412 59,365
Power purchase agreements      
Net revenue:      
Net revenue 77,842 63,731 47,183
Cost of revenue:      
Cost of revenue 216,947 218,936 144,696
Fuel delivered to customers and related equipment      
Net revenue:      
Net revenue 97,882 66,246 57,196
Cost of revenue:      
Cost of revenue 228,827 246,318 194,255
Other costs of revenue      
Net revenue:      
Net revenue 10,586 10,837 2,849
Cost of revenue:      
Cost of revenue $ 5,535 $ 6,544 $ 2,622