secwatch.observer — SEC 8-K summary
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Issuer:     PLUG POWER INC (PLUG)
CIK:        0001093691
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0001104659-23-057472
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1093691/000110465923057472/0001104659-23-057472-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1093691/000110465923057472/tm2315057d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-057472

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer