Plug Power reports $701M revenue in 2022, reaffirms 2023 guidance of $1.4B revenue and 10% gross margin

PLUG POWER INC

2022-FY EPS reported -$1.25 revenue$701,440,000

Revenue $701.4M in 2022 ($220.7M Q4), up 40% YoY; gross margin improved to (28)% from (34)%.
Reaffirms 2023 guidance: $1.4B revenue, 10% gross margin; long-term targets $5B/30% by 2026, $20B/35% by 2030.
Green hydrogen plant commissioning: Georgia on track for liquid H2 by end of March; Olin JV targeting production by Q3 2023.
Electrolyzer backlog 2GW, opportunity funnel >$30B; stationary fuel cell deployments of 30MW planned in 2023.
Partnership with Johnson Matthey for largest CCM manufacturing facility (5GW scaling to 10GW) in US, production likely in 2025.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PLUG POWER INC reported the fourth quarter ended December 31, 2022 results: revenue $220.7M. Guidance reaffirmed.

Period: the fourth quarter ended December 31, 2022
Revenue: $220.7M
Guidance: reaffirmed
Result: reported results

Exact text from the filing

$701.4M Revenue in 2022 with $220.7M in Q4 — Up 40% and 36% Respectively Year-Over-Year

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PLUG POWER INC reported the year ended December 31, 2022 results: revenue $701.4M. Guidance reaffirmed.

Period: the year ended December 31, 2022
Revenue: $701.4M
Guidance: reaffirmed
Result: reported results

Exact text from the filing

$701.4M Revenue in 2022 with $220.7M in Q4 — Up 40% and 36% Respectively Year-Over-Year

View on SEC.gov

51 earnings releases filed in the last 30 days. Browse all earnings releases →

PLUG POWER INC filing history →

Source: SEC EDGAR

accession 0001104659-23-027333

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