PLUG — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-10

• ●the timing of anticipated customer orders, including orders based on non-binding, preliminary, or informal indications of demand that remain subject to a customer's internal budgeting, procurement, and approval processes and may be delayed, reduced, or otherwise changed with little or no advance no…

• ●dilution resulting from equity issuances or exercise of warrants and convertible instruments and volatility in our reported financial results arising from changes in the fair value of our convertible debt instruments and warrant liabilities;

• ●the other risks described under Part I, Item 1A, “Risk Factors,” and elsewhere in the Annual Report on Form 10-K for the fiscal year ended December 31, 2025, Part II, Item 1A, “Risk Factors,” of the Company’s Form 10-Q for the quarter ended March 31, 2026 and Part II, Item 1A, "Risk Factors," of th…

• ecosystem of vertically integrated products that produce, transport, store and handle, dispense, and use hydrogen for mobility and power applications.

• In 2017, the Company issued a warrant to Walmart (the “2017 Walmart Warrant”) to purchase up to 55,286,696 shares of the Company’s common stock, subject to certain vesting events, described in Note 10, “Stockholders’ Equity - Share-Based Consideration Payable to a Customer.”

Text removed vs the prior filing · source: 10-Q · 2026-05-11

• ●dilution resulting from equity issuances or exercise of warrants and convertible instruments;

• ●the other risks described under Part I, Item 1A, “Risk Factors,” and elsewhere in the Annual Report on Form 10-K for the fiscal year ended December 31, 2025.

• the sale of hydrogen to customers that has been purchased by the Company from a third party or generated at our hydrogen production plants.

• In 2017, the Company issued a warrant to Walmart (the “2017 Walmart Warrant”) to purchase up to 55,286,696 shares of the Company’s common stock, subject to certain vesting events, described in Note 10, “Stockholders’ Equity - Share-Based Consideration Payable to a Customer.” The Company recorded a p…

• Revenue – sales of equipment, related infrastructure and other. Revenue from sales of equipment, related infrastructure and other represents sales of our GenDrive units, GenSure stationary backup power units, cryogenic delivery

Text added vs the prior filing · source: 10-Q · 2026-08-10

• Changes in the fair value of our convertible senior notes and warrant liabilities have caused, and may continue to cause, significant volatility in our reported financial results and could result in further dilution.

• We have elected to measure our 6.75% Convertible Senior Notes and our $7.75 Warrants at fair value, with changes in fair value recorded through our statements of operations each period. As a result, our reported net loss is, and is expected to continue to be, subject to significant fluctuation based…

• Recent judicial and administrative developments regarding tariffs imposed under the International Emergency Economic Powers Act resulted in refunds of previously paid tariffs, but the future tariff environment remains uncertain.

• In February 2026, the U.S. Supreme Court held that the International Emergency Economic Powers Act does not authorize the President of the United States to impose tariffs, thereby invalidating certain tariffs previously imposed under that Act. Following the ruling, U.S. Customs and Border Protection…

• As previously disclosed, in November 2025 we suspended activities related to the DOE loan program, and in our Annual Report on Form 10-K for the year ended December 31, 2025, we disclosed that we were engaged in discussions with the DOE regarding a possible reframing of activities under the Loan Gua…

Text removed vs the prior filing · source: 10-Q · 2026-05-11

• Disruptions to international shipping routes and regional instability, including in and around the Strait of Hormuz, may delay deliveries, increase costs, and adversely affect our ability to fulfill customer orders and recognize revenue.

• We rely on global logistics, including shipping routes through the Middle East and other key transit networks, to deliver products to our customers. Disruptions affecting these supply chain routes, including geopolitical tensions, military activity, or other instability, may delay, restrict, or prev…

• These types of disruptions may impair our ability to fulfill customer orders in a timely manner, delay commissioning and installation, and defer revenue recognition and cash collections. In addition, we may incur incremental costs such as additional freight, storage, or contractual penalties, and we…

Text added vs the prior filing · source: 10-Q · 2026-08-10

• Changes in the fair value of our convertible senior notes and warrant liabilities have caused, and may continue to cause, significant volatility in our reported financial results and could result in further dilution.

• We have elected to measure our 6.75% Convertible Senior Notes and our $7.75 Warrants at fair value, with changes in fair value recorded through our statements of operations each period. As a result, our reported net loss is, and is expected to continue to be, subject to significant fluctuation based…

• Recent judicial and administrative developments regarding tariffs imposed under the International Emergency Economic Powers Act resulted in refunds of previously paid tariffs, but the future tariff environment remains uncertain.

• In February 2026, the U.S. Supreme Court held that the International Emergency Economic Powers Act does not authorize the President of the United States to impose tariffs, thereby invalidating certain tariffs previously imposed under that Act. Following the ruling, U.S. Customs and Border Protection…

• As previously disclosed, in November 2025 we suspended activities related to the DOE loan program, and in our Annual Report on Form 10-K for the year ended December 31, 2025, we disclosed that we were engaged in discussions with the DOE regarding a possible reframing of activities under the Loan Gua…

Text removed vs the prior filing · source: 10-Q · 2026-05-11

• Disruptions to international shipping routes and regional instability, including in and around the Strait of Hormuz, may delay deliveries, increase costs, and adversely affect our ability to fulfill customer orders and recognize revenue.

• We rely on global logistics, including shipping routes through the Middle East and other key transit networks, to deliver products to our customers. Disruptions affecting these supply chain routes, including geopolitical tensions, military activity, or other instability, may delay, restrict, or prev…

• These types of disruptions may impair our ability to fulfill customer orders in a timely manner, delay commissioning and installation, and defer revenue recognition and cash collections. In addition, we may incur incremental costs such as additional freight, storage, or contractual penalties, and we…

Text added vs the prior filing · source: 10-Q · 2026-08-10

• Changes in the fair value of our convertible senior notes and warrant liabilities have caused, and may continue to cause, significant volatility in our reported financial results and could result in further dilution.

• We have elected to measure our 6.75% Convertible Senior Notes and our $7.75 Warrants at fair value, with changes in fair value recorded through our statements of operations each period. As a result, our reported net loss is, and is expected to continue to be, subject to significant fluctuation based…

• Recent judicial and administrative developments regarding tariffs imposed under the International Emergency Economic Powers Act resulted in refunds of previously paid tariffs, but the future tariff environment remains uncertain.

• In February 2026, the U.S. Supreme Court held that the International Emergency Economic Powers Act does not authorize the President of the United States to impose tariffs, thereby invalidating certain tariffs previously imposed under that Act. Following the ruling, U.S. Customs and Border Protection…

• As previously disclosed, in November 2025 we suspended activities related to the DOE loan program, and in our Annual Report on Form 10-K for the year ended December 31, 2025, we disclosed that we were engaged in discussions with the DOE regarding a possible reframing of activities under the Loan Gua…

Text removed vs the prior filing · source: 10-Q · 2026-05-11

• Disruptions to international shipping routes and regional instability, including in and around the Strait of Hormuz, may delay deliveries, increase costs, and adversely affect our ability to fulfill customer orders and recognize revenue.

• We rely on global logistics, including shipping routes through the Middle East and other key transit networks, to deliver products to our customers. Disruptions affecting these supply chain routes, including geopolitical tensions, military activity, or other instability, may delay, restrict, or prev…

• These types of disruptions may impair our ability to fulfill customer orders in a timely manner, delay commissioning and installation, and defer revenue recognition and cash collections. In addition, we may incur incremental costs such as additional freight, storage, or contractual penalties, and we…

Text added vs the prior filing · source: 10-Q · 2026-08-10

• As previously disclosed in the Current Report on Form 8-K filed by the Company with the SEC on January 23, 2025, on January 16, 2025, Plug Power Energy Loan Borrower LLC and Plug Power Limestone, LLC (the “Borrower Parties”) entered into the Loan Guarantee Agreement with the DOE. The Loan Guarantee …

• On August 4, 2026, the Company and the Borrower Parties received a notification letter (the “Termination Notice”) from the DOE exercising its right under Section 2.02(c) of the Loan Guarantee Agreement to terminate that agreement because the Initial First Advance had not occurred by the Initial Firs…

• No amounts were advanced or drawn under the Loan Guarantee Agreement. Accordingly, the Company does not expect the termination to result in any repayment, prepayment or termination-fee obligation. See Note 20, “Subsequent

• Events,” to the unaudited interim condensed consolidated financial statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q for additional information.

• Upon the Release Date, the security interest granted by the Borrower Parties will terminate, and the Termination Notice directs the collateral agent to cooperate with the release of the related collateral, including the filing of UCC termination statements.

Text removed vs the prior filing · source: 10-Q · 2026-05-11

• On May 11, 2026, the Company and Benjamin Haycraft, the Company’s Chief Strategy Officer and General Manager, EMEA Region entered into Amendment No. 2 to Mr. Haycraft’s employment agreement (the “Employment Agreement”) which, among other things: (i) increased his annual base salary to €440,000, effe…

• On March 9, 2026, Maureen Helmer, a member of the Company’s Board of Directors, adopted a new stock trading plan established pursuant to Rule 10b5-1 of the Exchange Act (the “New Plan”), which is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c), and which provides for the sal…