Plug Power, a company that makes hydrogen fuel cells (like tiny power plants!), has had a bumpy ride. It started by trying to make hydrogen power for homes, but that didn't work. Then, it started selling to big companies like Amazon and Walmart. However, it's faced some challenges recently.
- Plug Power sells hydrogen fuel cells for things like warehouse forklifts.
- It had some accounting problems a few years ago.
- Sales haven't grown as much as hoped recently.
- The company lost a lot of money in 2023 and 2024.
| Metric | 2021 | 2022 | 2023 | First 9 months of 2024 |
|---|---|---|---|---|
| Revenue (Millions of Dollars) | $502 | $701 | $891 | $437 |
| Operating Margin (%) | -87% | -97% | -151% | -165% |
| Net Income (Loss) (Millions of Dollars) | -$460 | -$724 | -$1370 | -$769 |
Analysts predict lower sales in 2024. The future of Plug Power is uncertain.
