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Dec 31, 2019
Plug Power Q4 2019 Earnings Report
Achieved record gross billings and deployed over 2,400 fuel cell units.
Key Takeaways
Plug Power reported its best quarter and year in the company's history in Q4 2019, setting the stage for meaningful growth in 2020 and beyond. The company achieved record gross billings of $94.5 million in the fourth quarter of 2019 and deployed over 2,400 fuel cell units.
Achieved record gross billings in Q4 2019 of $94.5 million.
Deployed over 2,400 fuel cell units in Q4 2019.
Executed a publicly marketed follow-on equity offering raising $126.5 million.
Set guidance to achieve $300 million in gross billings in 2020.
Plug Power
Plug Power
Forward Guidance
Plug Power has set guidance to achieve $300 million in gross billings in 2020.
Positive Outlook
- More than 25% gross billings growth year over year.
- Pipeline provides over 90% visibility to the deployment target for 2020.
- Increase in multi-site orders from pedestal customers.
- Growing adoption rates in existing and expansion markets.
- Strategic focus in 2020 includes leveraging the ProGen platform to expand into on-road and large-scale stationary markets.