Plug Power Reports Q3 2023 Revenue of $199M, Gross Loss Worsens Amid Hydrogen Supply Challenges

PLUG POWER INC

2023-Q3 EPS reported -$1.22 revenue$669,179,000

Revenue of $199M in Q3 2023, up 5% YoY from $189M, but GAAP gross loss widened to (69%) from (24%).
Recorded a non-cash service accrual charge of $41.6M due to hydrogen supply disruptions and cost increases.
Georgia green hydrogen plant expects liquid production between Nov 15 and year-end; Tennessee facility also expected online by year-end.
Electrolyzer sales grew over 3x QoQ; secured 550MW order from Fortescue and 280MW from Arcadia e-Fuels.
Company warns it will need additional capital; pursuing debt financing and DOE loan program.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

PLUG POWER INC reported the third quarter ended September 30, 2023 results: revenue $199M.

Period: the third quarter ended September 30, 2023
Revenue: $199M
Result: reported results

Exact text from the filing

reference in such filing. --- EX-99.1 (EXHIBIT 99.1) --- EX-99.1 2 tm2330218d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Plug Reports Third Quarter 2023 Results with Revenue of $199M 2023 overall financial performance has been negatively impacted by unprecedented supply challenges in the hydrogen network in North America. We believe this hydrogen supply

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Source: SEC EDGAR

accession 0001104659-23-116272

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