Plug Power Q1 revenue $210.3M (+49% YoY); reaffirms 2023 goals; 2024 revenue target $1.4B

PLUG POWER INC

2023-Q1 EPS reported -$0.35 revenue$210,286,000

Revenue $210.3M, up 49% YoY from $140.8M; gross margin negative 33%, improved 3% sequentially.
Delivered 62MW of electrolyzers in Q1, more than all of 2022; added 14 material handling sites.
Signed STEF as new pedestal customer in France; plans 8 new European sites in 2023.
Gigafactory on track to produce 100MW electrolyzer stacks per month by May 2023; 200+ TPD hydrogen capacity by year-end.
Presentation introduces 2024 revenue target of $1.4B (base case) with gross margin $140M.

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 0.85

PLUG POWER INC updated its first quarter ended March 31, 2023 guidance (reaffirmed).

Period: first quarter ended March 31, 2023
Guidance: reaffirmed
Result: reported results

Exact text from the filing

On May 9, 2023, Plug Power Inc., a Delaware corporation (the “Company”), issued a press release regarding its financial results for the first quarter ended March 31, 2023.

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 0001104659-23-057472

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.