Plug Power continues to lose money, and that's become a bigger problem as the stock falls.Plug Power (PLUG -1.47%) has long been a high-potential company, but it hasn't translated that potential into profits for investors. In this video, Travis Hoium shows why the company's options are running out as the stock drops.*Stock prices used were end-of-day prices of Aug. 12, 2024. The video was published on Aug. 12, 2024. ...

Are the company's problems fixable?The problems that have plagued Plug Power (PLUG -1.01%) persisted in its second quarter as the company once again posted poor results. The stock has lost about 80% of its value in the past year.Let's take a closer look at the issues the company is facing and whether it has an opportunity to stage a turnaround.Plug Power's problemsThe biggest issues facing Plug Power are negative gross margins and cash outflows. The company found a niche selling fuel cells used in forklifts ...

Investment Rating - The report does not explicitly state an investment rating for Plug Power, but it indicates that the company's performance is expected to be negatively viewed by the market due to underperformance in revenue and higher-than-expected losses [2][3]. Core Insights - Plug Power reported a net loss of $262.3 million for Q2 2024, significantly worse than the market expectation of a $211.2 million loss, attributed to "market dynamics" leading to declining revenues and $86 million in non-cash expenses [2][3]. - Revenue for Q2 2024 was $143.4 million, falling short of the market consensus of $186 million, representing a 23% miss [3]. - The company's EBITDA loss was $222 million, compared to the market expectation of a $184 million loss, indicating ongoing operational challenges [3]. - The gross margin for Q2 2024 was reported at -92%, significantly worse than the forecast of -55% [3]. - For the fiscal year 2024, Plug Power provided revenue guidance of $825 million to $925 million, which is below the market consensus of $912 million [3]. - The company has made progress in securing funding from the U.S. Department of Energy, having received up to $163 million for clean hydrogen projects and is awaiting approval for a $1.6 billion loan application [3]. Financial Summary - Q2 2024 net revenue was $143.4 million, a 45% decrease year-over-year from $260.2 million in Q2 2023 [4]. - Operating costs for Q2 2024 were $274.6 million, down 19% from the previous quarter [4]. - The reported net income for Q2 2024 was a loss of $262.3 million, compared to a loss of $236.4 million in Q2 2023, reflecting an 11% increase in losses year-over-year [4]. - The GAAP earnings per share for Q2 2024 was -$0.36, which is a 22% improvement from the expected -$0.30 [4].

Table of Contents Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered Common Stock, par value $.01 per share PLUG The NASDAQ Capital Market UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PER ...

Financial Data and Key Metrics Changes - In Q2 2024, Plug Power reached the final commissioning stage of 55 megawatts of electrolyzers, representing an expected $70 million in revenue, although much of this revenue was not recognized in the quarter [9][11] - Net cash used in operations, combined with CapEx, decreased year-over-year by 30% due to lower CapEx and inventory reductions [23] - The company expects to improve cash burn rates further in the second half of the year as it continues to curtail CapEx and leverage working capital [23] Business Line Data and Key Metrics Changes - The hydrogen fuel cell market has not progressed as rapidly as expected, but the company remains committed to strengthening its leadership position and focusing on operational improvements [11] - The company has scaled up numerous product offerings, including electrolyzer products, hydrogen storage, and distribution solutions, setting the stage for continued sales expansion in the latter half of 2024 and into 2025 [17] - The first green hydrogen plant has been commissioned, providing 25 tons per day of capacity, with a third facility in Louisiana expected to add another 15 tons per day by year-end [18] Market Data and Key Metrics Changes - The electrolyzer market in Europe is beginning to see demand, with final investment decisions coming along, indicating a growing market [12] - The company has secured 7.5 gigawatts in basic design and engineering package contracts, with potential revenue exceeding $1.5 billion if a quarter of this activity leads to revenue [13] Company Strategy and Development Direction - Plug Power is focused on operational improvements and cash management while building its leadership position in the hydrogen economy [9] - The company aims to enhance hydrogen production capabilities and accelerate the adoption of clean energy solutions across various sectors through partnerships, such as with Olin Corporation [10] - The company is committed to strengthening cash management practices and ensuring profitable growth, with a focus on operational efficiency and reducing operational expenses [13] Management's Comments on Operating Environment and Future Outlook - Management acknowledges that government policy ambiguity has impacted the timing of customer decision-making processes, but expresses confidence in strategic initiatives ensuring profitable growth as the market develops [11] - The company anticipates continuous improvement in margins driven by price increases and increased output from operational facilities [34] - Management is optimistic about the potential for looser regulations post-election, which could accelerate the hydrogen economy [80] Other Important Information - The company has reduced its global workforce by over 15% to optimize resources and maximize leverage [19] - Significant progress has been made in remediating material weaknesses in accounting processes, which will be reflected in the second quarter 10-Q filing [21] Q&A Session All Questions and Answers Question: Confirmation of unrecognized revenue from electrolyzer sales - Yes, it is just over $50 million that reflects a significant change in the deployment of electrolyzers and will be recognized in the second half [31] Question: Improvement in hydrogen fuel sales margins - Continuous improvement in margins is expected due to price increases and operational efficiency from facilities in Tennessee and Georgia [34] Question: Supply chain challenges and supplier commitments - There are challenges, particularly on the fuel cell side, but no suppliers have backed away from commitments [36] Question: Diversity of hydrogen customers and off-take sizes - The company is working with a diverse range of customers, starting with smaller deals that could grow into larger agreements [39] Question: Level of PTC for Georgia and eligibility for other plants - The PTC amounts to about $2.60 per kilogram, and the company is optimistic about eligibility for other facilities [42] Question: Cash management and restricted cash - The company is exploring ways to leverage restricted cash for liquidity and may approach institutions for flexibility [46][47] Question: Revenue guidance and factors driving towards the top end - Key factors include the timely commissioning of electrolyzers, demand in the material handling industry, and successful transitions to third-party leasing partners [48][50] Question: Core materials handling business performance - The company expects material handling revenues in the second half to be significantly higher than the first half, with new customer engagements driving growth [58] Question: Cost efficiency and low-hanging fruit - Focus areas include reducing inventory and improving cost structures in manufacturing and hydrogen production [62] Question: Inventory levels and product line context - The company aims to reduce inventory to about $700 million by year-end, supporting all product lines [78]

Plug Power (PLUG) reported $143.35 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 44.9%. EPS of -$0.36 for the same period compares to -$0.35 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $180.23 million, representing a surprise of -20.46%. The company delivered an EPS surprise of -20.00%, with the consensus EPS estimate being -$0.30.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wal ...

Plug Power (PLUG) came out with a quarterly loss of $0.36 per share versus the Zacks Consensus Estimate of a loss of $0.30. This compares to loss of $0.35 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -20%. A quarter ago, it was expected that this alternative energy company would post a loss of $0.32 per share when it actually produced a loss of $0.43, delivering a surprise of -34.38%.Over the last four quarters, the company ...

Exhibit 99.1 Plug Power Announces Key Developments and Strategic Milestones in Second Quarter 2024 SLINGERLANDS, N.Y., August 8, 2024 — Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the green hydrogen economy, today announced significant progress and strategic initiatives in the second quarter of 2024. These developments underscore the Company's commitment to advancing the hydrogen economy and solidifying its leadership position in the industry. Financial Highlights ...

Plug Power Inc. (PLUG) is scheduled to release second-quarter 2024 results on Aug 8, before market open.The company has a bleak earnings surprise history, having missed the Zacks Consensus Estimate in each of the preceding four quarters. The negative earnings surprise was 49.3%, on average.Let’s see how things have shaped up for Plug Power this earnings season.Factors to NoteWeak demand for the company’s GenDrive units, GenSure stationary backup power units and cryogenic stationery is expected to have hurt ...

Vancouver, British Columbia--(Newsfile Corp. - August 2, 2024) - Energy Plug Technologies Corp. (CSE: PLUG) (OTCQB: PLGGF) (FSE: 6GQ) ("Energy Plug" or the "Company"), an energy technology company dedicated to innovation and sustainability, is pleased to announce several key additions to our advisory board. These strategic appointments will significantly enhance our capabilities and support our ambitious growth plans in Canada, the US, and internationally. New AdvisorsJack Lee, Advisor - Certifications and ...