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Plug Power | 10-Q: Q3 2024 Earnings Report

Plug Power | 10-Q: Q3 2024 Earnings Report

普拉格能源 | 10-Q：2024财年三季报
美股SEC公告 ·  2024/11/13 05:51

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Plug Power reported Q3 2024 revenue of $173.7 million, down 12.6% from $198.7 million in Q3 2023, while net loss widened to $211.2 million from $283.5 million. The quarter saw gross margin deteriorate to -57.6% compared to -69.4% in the prior year period, impacted by lower sales volumes and inventory valuation adjustments. Revenue declines were seen across hydrogen infrastructure and fuel cell systems sales.The company made progress on strategic initiatives, including electrolyzer sales which increased significantly with 16 systems sold in Q3 2024 versus one system in Q3 2023. Fuel delivery revenue grew 53.6% to $29.8 million, driven by increased customer sites and improved pricing. The company also recognized $1.6 million in clean hydrogen production tax credits during the quarter.As of September 30, 2024, Plug Power maintained $93.9 million in cash and $906.3 million in restricted cash. The company raised additional capital through ATM stock sales of $30.7 million in Q3 and secured a new $200 million convertible debenture in November 2024. Management believes current liquidity and financing options are sufficient to fund operations for at least 12 months.
Plug Power reported Q3 2024 revenue of $173.7 million, down 12.6% from $198.7 million in Q3 2023, while net loss widened to $211.2 million from $283.5 million. The quarter saw gross margin deteriorate to -57.6% compared to -69.4% in the prior year period, impacted by lower sales volumes and inventory valuation adjustments. Revenue declines were seen across hydrogen infrastructure and fuel cell systems sales.The company made progress on strategic initiatives, including electrolyzer sales which increased significantly with 16 systems sold in Q3 2024 versus one system in Q3 2023. Fuel delivery revenue grew 53.6% to $29.8 million, driven by increased customer sites and improved pricing. The company also recognized $1.6 million in clean hydrogen production tax credits during the quarter.As of September 30, 2024, Plug Power maintained $93.9 million in cash and $906.3 million in restricted cash. The company raised additional capital through ATM stock sales of $30.7 million in Q3 and secured a new $200 million convertible debenture in November 2024. Management believes current liquidity and financing options are sufficient to fund operations for at least 12 months.
普拉格能源发布了2024年第三季度的营业收入为17370万美元，比2023年第三季度的19870万美元下降了12.6%，同时净亏损扩大至21120万美元，之前为28350万美元。本季度毛利率下降至-57.6%，而去年同期为-69.4%，受到了销售量降低和库存估值调整的影响。氢气制造行业和燃料电池系统销售均出现营业收入下降。公司在战略举措方面取得了进展，包括电解槽销售大幅增加，2024年第三季度售出16个系统，而2023年第三季度仅售出一个。燃料交付收入增长了53.6%，达到2980万美元，这得益于客户地点的增加和价格的改善。公司在本季度还认定了160万美元的清洁氢生产税收抵免。截至2024年9...展开全部
普拉格能源发布了2024年第三季度的营业收入为17370万美元，比2023年第三季度的19870万美元下降了12.6%，同时净亏损扩大至21120万美元，之前为28350万美元。本季度毛利率下降至-57.6%，而去年同期为-69.4%，受到了销售量降低和库存估值调整的影响。氢气制造行业和燃料电池系统销售均出现营业收入下降。公司在战略举措方面取得了进展，包括电解槽销售大幅增加，2024年第三季度售出16个系统，而2023年第三季度仅售出一个。燃料交付收入增长了53.6%，达到2980万美元，这得益于客户地点的增加和价格的改善。公司在本季度还认定了160万美元的清洁氢生产税收抵免。截至2024年9月30日，普拉格能源拥有现金9390万美元和限制性现金90630万美元。公司通过2024年第三季度的ATM股票销售筹集了3070万美元的额外资金，并在2024年11月获得了20000万美元的新可转换债券。管理层认为当前的流动性和融资选项足以支持至少12个月的运营。

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