PLUG Stock Income Statements

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Revenue

Gross Profit

Operating Profit

Net Income

Quarterly

Annual

Quarterly Income Statements

Quarterly

Annual

Unit: USD	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2016-06-30	2016-03-31	2015-09-30	2015-06-30	2015-03-31	2014-09-30	2013-12-31	2013-09-30	2012-06-30	2012-03-31	2011-12-31	2009-12-31	2009-06-30	2009-03-31	2008-12-31	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30	2003-03-31	2002-12-31	2002-09-30

net revenue:
sales of equipment, related infrastructure and other	167,923,000	145,130,000	216,286,000	182,094,000
services performed on fuel cell systems and related infrastructure		17,916,000	23,449,000	12,221,000	21,259,000	12,619,000	11,612,000	13,875,000	16,471,000	18,697,000	15,475,000	13,086,000	20,778,000	7,074,000	6,491,000	6,521,000	7,802,000	5,920,000	5,282,000	6,213,000	5,672,000	5,156,000	7,188,000	5,360,000	5,273,000
power purchase agreements		20,068,000	16,130,000	7,937,000	16,453,000	9,524,000	11,169,000	10,037,000	9,645,000	9,321,000	8,361,000	7,826,000	6,766,000	6,704,000	6,654,000	6,496,000	9,240,000	5,599,000	6,307,000	4,707,000	6,504,000	5,555,000	5,629,000	3,062,000	2,706,000
fuel delivered to customers and related equipment		19,371,000	17,878,000	10,142,000	16,907,000	12,389,000	14,472,000	13,429,000
other		2,197,000	1,711,000	935,000	1,559,000	286,000	400,000	377,000	309,000	550,000	208,000	98,000	48,000	131,000	63,000	76,000	51,000	135,000						278,000	125,000
net revenue																40,813,000	98,202,000	56,376,000	57,068,000	18,593,000	59,820,000	53,165,000	36,006,000
cost of revenue:
benefit from loss contracts related to service																								-1,071,000
total cost of revenue		336,676,000	338,325,000	279,682,000	301,220,000	234,691,000	183,732,000	176,153,000	249,668,000	175,000,000	164,855,000	84,129,000	159,622,000	108,279,000	62,994,000	45,284,000	78,882,000	51,114,000	46,914,000	25,363,000	55,313,000	48,756,000	38,316,000	20,075,000	15,162,000

gross loss		-137,965,000	-78,143,000	-69,396,000	-80,478,000	-46,063,000	-32,465,000	-35,349,000	-83,547,000	-31,078,000	-40,298,000	-12,171,000				-4,471,000				-6,770,000			-2,310,000
operating expenses:
research and development																10,412,000	9,341,000	8,028,000	8,933,000	7,373,000	8,430,000	8,402,000	8,427,000	5,201,000	4,830,000
selling, general and administrative																11,013,000	10,982,000	10,400,000	13,627,000	9,324,000	8,996,000	8,652,000	12,241,000	8,559,000	8,290,000
impairment
change in fair value of contingent consideration
total operating expenses																21,425,000	20,323,000	18,428,000	22,560,000	16,697,000	17,426,000	17,054,000	20,668,000	13,760,000	13,120,000
operating income																-25,896,000	-1,003,000	-13,166,000	-12,406,000	-23,467,000	-12,919,000	-12,645,000	-22,978,000	-13,376,000	-12,950,000										-31,078,560	-10,192,210	-8,291,346	-106,486,755	-19,947,054	-20,219,273	-17,726,857	-19,325,848	-15,056,630	-16,256,560	-15,353,828	-13,969,001	-12,899,613	-12,919,050	-12,043,488	-10,690,747	-12,325,976	-11,724,757	-11,466,466	-11,298,481	-11,837,209	-13,863,170	-12,058,688	-12,521,708	-13,466,811	-12,378,595	-10,545,042
yoy																10.35%	-92.24%	4.12%	-46.01%	75.44%	-0.24%														55.81%	-49.59%	-53.23%	451.01%	32.48%	24.38%	15.46%	38.35%	16.72%	25.83%	27.49%	30.66%	4.65%	10.19%	5.03%	-5.38%	4.13%	-15.43%	-4.91%	-9.77%	-12.10%	11.99%	14.35%
qoq																2481.85%	-92.38%	6.13%	-47.13%	81.65%	2.17%	-44.97%	71.79%	3.29%											204.92%	22.93%	-92.21%	433.85%	-1.35%	14.06%	-8.27%	28.35%	-7.38%	5.88%	9.91%	8.29%	-0.15%	7.27%	12.65%	-13.27%	5.13%	2.25%	1.49%	-4.55%	-14.61%	14.96%	-3.70%	-7.02%	8.79%	17.39%
interest income		10,369,000	16,391,000	17,632,000	17,938,000	13,429,000	3,838,000	2,054,000																																				5,353,011	3,532,965	997,441	822,605	941,834	669,182	285,476	270,248	380,957	262,242	442,576	366,818	295,287	144,798	190,692	202,237	221,342	352,079
interest expense																																								-220,591	-114,061	-106,530		-12,549	-55,932	-53,443	-48,911	-37,464	-45,257	-33,892	-28,970	-7,581	-27,953	-9,561	-15,879	-13,679	-14,781	-15,988	-17,120	-172,279	24,897
other income/(expense)		4,987,000
realized gain/(loss) on investments
other-than-temporary impairment of available-for-sale securities
change in fair value of equity securities
loss on equity method investments
income before income taxes	-642,843,000	-288,208,000	-237,315,000	-207,831,000	-224,156,000	-169,237,000	-172,873,000	-156,903,000	-209,111,000	-106,671,000	-99,634,000	-60,746,000	-517,304,000	-45,902,000	-26,315,000	-37,479,000	-11,737,000	-21,229,000	-18,561,000	-33,938,000	-18,483,000	-17,281,000	-28,780,000	-13,128,000	-12,146,000
income tax (benefit)/expense		-4,729,000
net income		-283,479,000	-236,398,000	-206,561,000	-500,543,000	-170,758,000	-173,296,000	-156,489,000																											-30,459,044	-10,249,508	-8,157,449	-100,972,338	-20,727,686	-17,484,853	-15,176,246	-16,726,710	-11,183,007	-13,281,870	-11,876,795	-13,025,003	-12,125,919	-16,453,035	-11,867,837	-10,887,437	-12,535,153	-11,804,431	-11,683,319	-11,298,989	-11,952,088	-14,039,505	-12,405,511	-12,826,891	-13,766,895	-12,719,075	-10,674,366
yoy		66.01%	36.41%	32.00%																															46.95%	-41.38%	-46.25%	503.66%	85.35%	31.64%	27.78%	28.42%	-7.78%	-19.27%	0.08%	19.63%	-3.26%	39.38%	1.58%	-3.64%	4.88%	-15.92%	-5.82%	-11.91%	-13.18%	10.38%	16.22%
qoq		19.92%	14.44%	-58.73%	193.13%	-1.46%	10.74%																												197.18%	25.65%	-91.92%	387.14%	18.55%	15.21%	-9.27%	49.57%	-15.80%	11.83%	-8.82%	7.41%	-26.30%	38.64%	9.00%	-13.14%	6.19%	1.04%	3.40%	-5.46%	-14.87%	13.17%	-3.29%	-6.83%	8.24%	19.16%
net income per share
basic and diluted		-0.47	-0.4	-0.35	-0.38	-0.3	-0.3	-0.27	-0.34	-0.19	-0.18	-0.12	-1.42	-0.11	-0.03	-0.12	-0.04	-0.09	-0.08	-0.15	-0.08	-0.07	-0.12	-0.07	-0.07	-0.06
weighted-average number of common stock outstanding		599,465,146	598,053,390	589,205,165	579,716,708	578,043,278	578,043,278	577,866,983	558,182,177	574,520,806	567,033,722	513,458,287	354,790,106	371,010,544	316,645,050	305,192,201	237,152,780	236,759,521
other income			-5,082,000	-4,771,000	6,861,000	-5,399,000	-2,456,000	-1,309,000	-318,000	-50,000	-70,000	-198,000																												-33,423	-95,381	61,958
income tax (benefit) expense			-917,000
impairment of long-lived assets
realized loss on investments
income tax benefit				-1,270,000				-414,000					6,663,000	6,523,000	17,659,000						1,636,000	1,716,000	2,912,000		392,000				324,680		410,259
sales of fuel cell systems, related infrastructure and equipment					175,867,000	157,985,000	116,233,000	108,847,000
income tax expense					1,530,000	1,521,000	423,000
sales of fuel cell systems and related infrastructure									262,049,000	115,999,000	99,278,000	46,772,000	-245,956,000	83,528,000	47,746,000	20,387,000	70,952,000	38,165,000	38,547,000	2,220,000	41,191,000	36,668,000	20,622,000	9,121,000	5,218,000
fuel delivered to customers									93,392,000	11,556,000	11,121,000	11,127,000	-40,608,000	9,831,000	7,372,000	7,333,000	10,157,000	6,557,000	6,932,000	5,453,000	6,453,000	5,786,000	6,488,000	2,638,000	2,010,000
interest									-27,895,000	-5,361,000	-10,268,000	-12,266,000
gain on extinguishment of debt													4,464,000		13,222,000
net income attributable to the company									-192,914,000	-106,671,000	-99,634,000	-60,746,000	-510,641,000	-39,379,000	-8,656,000	-37,479,000	-11,737,000	-21,229,000	-18,561,000	-33,938,000	-16,847,000	-15,565,000	-25,868,000	-13,128,000	-11,754,000	-10,213,000	-9,226,000	-11,051,821	-9,351,034
preferred stock dividends declared																								-26,000	-26,000
net income attributable to common stockholders									-192,914,000	-106,671,000	-99,634,000	-60,746,000	-510,648,000	-39,379,000	-8,669,000	-37,492,000	-11,750,000	-21,242,000
realized gain on investments
gross profit													-468,731,000	-1,290,000	5,076,000		19,320,000	5,262,000	10,154,000		4,507,000	4,409,000		384,000	170,000
yoy													-2526.14%	-124.52%	-50.01%		328.67%	19.35%			2551.18%
qoq													36235.74%	-125.41%			267.16%	-48.18%			2.22%			125.88%
interest and other income													-18,462,000	-17,241,000	-13,198,000	-11,583,000	-10,806,000	-8,490,000	-7,861,000	-8,345,000	-6,542,000	-6,352,000	-6,136,000	-1,208,000	87,000	28,000	32,000	31,176	628,339	66,897	26,028				-809,527	-317,554	-296,295	-293,746	-106,911
change in fair value of common stock warrant liability																	72,000	427,000	1,706,000	-2,126,000	978,000	1,716,000	334,000	1,456,000	1,278,000	2,167,000	667,000	1,768,795	485,471	-20,930,757	-8,206,429	1,053,051	1,238,750
preferred stock dividends declared and accretion of discount													-19,000		-13,000	-13,000	-13,000	-13,000	-26,000	-52,000	-13,000	-13,000	-13,000
net income attributable to common shareholders																			-18,587,000	-33,990,000	-16,860,000	-15,578,000	-25,881,000	-13,154,000	-11,780,000	-10,238,000	-9,253,000	-11,077,851	-9,377,064
weighted-average number of common shares outstanding																			231,114,868	220,605,068	218,882,337	218,953,106	214,315,312	180,282,904	180,125,763	177,369,017		173,365,830	169,557,223	76,436,408	84,150,851								88,071,196	87,341,717	86,894,954	86,656,349	86,448,152	86,100,326				78,463,236				73,125,957				60,145,940			51,664,671	50,644,950	50,818,978
revenue:
gross revenue																							39,927,000
benefit from common stock warrants																							-3,921,000
total revenue																								20,459,000	15,332,000	31,432,000	24,009,000	9,415,539	19,881,094	8,032,231	4,626,816	7,659,097	7,752,142		9,071,341	3,221,215	2,621,400	14,164,431	3,736,886	5,098,312	4,535,031	4,007,102	2,630,177	1,040,346	1,755,539	2,764,157	2,275,708	2,728,359	3,880,675	3,656,684	3,220,687	4,541,861	4,628,823	3,685,014	3,285,605	2,980,584	3,465,104	3,104,174	2,952,355	3,376,535	2,993,687
yoy																								117.29%	-22.88%	291.32%	418.91%	22.93%	156.46%		-49.00%	137.77%	195.73%		142.75%	-36.82%	-42.20%	253.48%	42.08%	390.06%	158.33%	44.97%	15.58%	-61.87%	-54.76%	-24.41%	-29.34%	-39.93%	-16.16%	-0.77%	-1.98%	52.38%	33.58%	18.71%	11.29%	-11.73%	15.75%
qoq																								33.44%	-51.22%	30.92%	154.99%	-52.64%	147.52%	73.60%	-39.59%	-1.20%			181.61%	22.88%	-81.49%	279.04%	-26.70%	12.42%	13.17%	52.35%	152.82%	-40.74%	-36.49%	21.46%	-16.59%	-29.69%	6.13%	13.54%	-29.09%	-1.88%	25.61%	12.16%	10.23%	-13.98%	11.63%	5.14%	-12.56%	12.79%
product revenue																										17,976,000	15,324,000	4,067,476	12,595,044
service revenue																										13,446,000	8,428,000	5,303,063	6,914,933
research and development contract revenue																										10,000	257,000	45,000	371,117	266,796	461,808	457,693	515,376		5,523,261	1,936,522	1,338,678	10,347,470	2,886,552	4,353,658	3,335,541	3,331,325	2,168,143	659,829	1,079,161	2,021,307	1,418,978	1,687,611	2,570,957	2,183,015	2,164,317	3,430,358	3,293,805	2,176,974	1,934,518	1,630,211	1,477,011	958,643	919,292	1,331,130	374,577
cost of product revenue																										15,145,000	11,653,000	3,837,935	11,058,189
cost of service revenue																										16,201,000	10,483,000	7,637,863	9,217,120
cost of research and development contract revenue																										10,000	311,000	51,153	699,490	622,628	730,486	832,564	765,958					4,973,808	4,973,808	6,470,323	5,198,167	4,723,078	2,653,279	1,413,159	1,335,963	2,350,841	2,536,699	2,541,063	3,364,876	3,255,333	2,914,459	3,558,640	4,260,544	3,065,020	2,589,886
research and development expense																										4,131,000	3,425,000	2,900,944	1,643,526	777,977	768,965	1,577,077	1,227,457		12,366,804	3,957,569	4,464,962	24,950,712	10,036,495
legal reserve																													2,400,000
selling, general and administrative expenses																										8,201,000	8,002,000	7,140,969	4,950,594	3,475,736	2,753,030	3,567,268	3,935,793		10,972,754	4,454,052	3,238,864	21,872,364	6,460,787
gain on acquisition activity
gain on bargain purchase
net income per share
basic																											-0.05
diluted																											-0.05
basic weighted-average number of common shares outstanding																											173,439,391
diluted weighted-average number of common shares outstanding																											173,439,391
amortization of intangible assets																												608,444	608,444	565,941	562,896	572,991	575,773		1,607,179	525,154	506,198	1,649,952	575,002	585,939	571,914	456,250
loss per share:
basic and diluted																												-0.06	-0.06						-0.24	-0.08	-0.06	-1.12	-0.24	-0.19	-0.17	-0.19	-0.13	-0.15	-0.14	-0.15	-0.14	-0.19	-0.15	-0.15	-0.17	-0.16	-0.16	-0.15	-0.16	-0.2	-0.2	-0.21	-0.27	-0.25	-0.21
gain on sale of equity interest in joint venture
product and service revenue																														17,339,463	4,165,008	7,201,404	7,236,766		3,548,080	1,284,693	1,282,722	3,816,961	850,334	744,654	1,199,490	675,777	462,034	380,517	676,378	742,850	856,730	1,040,748	1,309,718	1,473,669	1,056,370	1,111,503	1,335,018	1,508,040	1,351,087	1,350,373	1,988,093	2,145,531	2,033,063	2,045,405	2,619,110
cost of product and service revenue																														24,783,518	7,812,018	8,642,527	9,060,689		5,498,185	1,748,268	483,515	9,804,384	1,637,848	1,368,722	1,963,490	4,381,985	1,684,577	1,514,181	761,453	1,336,366	1,220,994
loss per share:
licensed technology revenue
interest and other income and net realized losses
from available-for-sale securities																																43,690	47,524
interest and other income and foreign currency gain																																-42,965	-55,848
weighted-average number of common shares
outstanding																																37,853,358	23,437,600		66,528	129,044,133	128,472,637
cost of research and development contract
revenue																																			9,704,979	2,728,382	2,219,207
in-process research and development																																																											3,000,000
goodwill impairment
interest and other income and net realized gains
(losses) from available-for-sale securities																																			1,429,043	260,256	430,192
change in fair value of auction rate securities repurchase agreement																																			-3,732,763	-513,761	-3,049,994
net trading gain																																			3,732,763	513,761
impairment loss on available-for-sale securities																																						-7,429,700	-2,794,646
income before equity in losses of affiliates																																			-30,459,044	-10,249,508	-8,157,449	-100,972,338	-20,727,686	-17,484,853	-15,176,246	-16,726,710	-11,183,007	-13,281,870	-11,876,795	-13,025,003	-12,125,919	-12,014,680	-11,419,563	-10,439,163	-12,084,698	-11,351,381	-11,232,177	-10,865,466	-11,486,270	-13,581,562	-11,928,671	-12,347,004	-13,281,694	-12,253,888	-10,192,963
equity in losses of affiliates																																																-4,438,355	-448,274	-448,274	-450,455	-453,050	-451,142	-433,523	-465,818	-457,943	-476,840	-479,877	-485,201	-465,187	-481,403
net unrealized gains on trading securities																																					3,049,994
interest income and net realized gains from available-for-sale securities																																						2,120,925	2,120,925
cost of revenue and expenses
research and development expense:
noncash stock-based compensation																																								2,656,975	928,305	852,301	876,369	726,242	712,851	716,915	663,360	437,970	386,777	377,080	372,274	932,087	663,748	521,138	474,183	318,448	500,596	288,667	226,125	483,610	269,836
other research and development																																								24,789,707	8,433,526	7,934,155	8,422,026	10,261,389	10,855,776	9,319,301	8,321,400	8,810,867	9,121,130	7,364,196	9,448,988	8,083,505	7,932,783	7,338,143	9,257,202	8,979,105	9,727,157	10,124,310	9,905,330	9,879,824	8,411,249
general and administrative expense:
other general and administrative																																								12,773,906	4,682,351	4,553,559	3,537,995	3,020,888	3,123,729	2,438,249	2,238,234	1,591,422	1,980,584	1,907,101	1,967,733	1,848,435	1,695,064	1,827,074	1,654,490	1,559,145	1,505,024	1,788,355	1,500,727	1,785,763	1,667,745
interest income and net realized gains/(losses) from the sale of available-for-sale securities																																								9,277,386	2,760,053	2,643,710
interest income and net realized gains/losses from the sale of available-for-sale securities																																											3,873,623
weighted-average number of shares outstanding																																													86,184,390	86,020,770	85,927,896		80,193,623	73,493,993	73,449,444		73,173,913	73,054,440	72,922,796		60,958,387	60,368,062
cost of product and service revenues																																																2,479,038	796,057	975,316	707,665	3,887,000	1,239,102	1,753,054	894,844
cost of revenues																																																								8,713,044	3,606,186	3,340,875	1,765,983	3,614,958	3,142,867