Slide 1: Plug Power Third Quarter 2016 Financial Results
Plug Power Third Quarter 2016 Financial Results Andy Marsh, CEO Paul Middleton, CFO November 7, 2016 Copyright 2016, Plug Power Inc.
Slide 2: Safe Harbor Statement
Safe Harbor Statement This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks and uncertainties about Plug Power Inc. (“PLUG”), including but not limited to statements about PLUG’s potential sa
Slide 3: Q3 2016 – Continued Momentum and Execution
Q3 2016 – Continued Momentum and Execution Bookings • Year-to-date bookings of $170 million (Millions) • Two new customers and multiple repeat including Walmart, Sysco $275 and Home Depot $205 • Multiple customers in multi-site discussions $150 $75 • Strong pipeline for Q4, expect to hit full-year b
Slide 4: Well Positioned to Deliver Strong 2016 Results
Well Positioned to Deliver Strong 2016 Results • Adjusted guidance reporting due to: • Elimination of certain non-GAAP metrics • Heavier second half mix of PPA transactions FY 2016E • Operational execution, including cost reductions, continues on plan GAAP revenues $85-$95mm • Sales pipeline remains
Slide 5: Leveraging IoT to Drive Service Performance
Leveraging IoT to Drive Service Performance • Industrial Internet of Things (IoT) technologies adds connected intelligence to devices in the field • Advancing IoT: GenDrive & GenFuel infrastructure • collect valuable, actionable data about the health and performance of our products • Intelligent and
Slide 6: China: Increasingly Important Opportunity
China: Increasingly Important Opportunity • China is the world leader in investing in new energy technologies • >$100B of new investment in 2015 – more than US, UK and Japan combined • Fuel cells have been identified as part of the 5-year plan • Significant subsidies proposed for FC vehicles at stat
Slide 7: ITC Update
ITC Update • Remain optimistic this will be addressed during lame duck session in December Proposed Annual Tax Credit with Extension - 2017+ • Continued strong support on both sides of the aisle 30% 30% 30% 30% • Public statements from leadership 26% 22% • PLUG (with strong support from industry fri
Slide 8: Operational Execution Drives Growth
Operational Execution Drives Growth Cumulative GenDrive Deployments Cumulative GenKey Sites Installed 13,300 37 12,400 11,500 33 10,600 9,400 27 8,200 24 7,300 6,700 18 13 10 8 Q4 '14 Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 Q4 '14 Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 8
Slide 9: Increased Visibility with Recurring Revenue Mix
Increased Visibility with Recurring Revenue Mix $50.0 GAAP Quarterly Revenue $45.0 (millions) $40.0 $38.4 $35.0 Commenced utilization of new Power $30.0 $31.4 Purchase Agreement (“PPA”) financing in 1Q’16 $25.0 $24.0 $20.0 $21.5 $20.5 $19.9 $17.6 $15.0 $15.3 $10.0 $9.4 $5.0 $- Q3 '14 Q4 '14 Q1 '15 Q
Slide 10: Overall Gross Margin Expansion
Overall Gross Margin Expansion 30.0% GAAP Quarterly Gross Margin 20.0% 10.0% 0.2% 1.1% 1.9% 2.2% 0.0% Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 -10.0% -20.0% -24.5% -30.0% GenDrive 17% 24% 36% 24% 38% Gross Margin 10
Slide 11: Improving Performance in PPA Deployments
Improving Performance in PPA Deployments PPA Systems Deployed $20.0 $17.4 $17.3 $14.8 $15.0 $11.2 $11.7 $11.5 $10.0 $5.0 $- Q1 '16 Q2 '16 Q3 '16 Value Cost 11
Slide 12: Administrative Expenses Remain In-Line
Administrative Expenses Remain In-Line $18.0 Total SG&A Total R&D $16.0 Results in millions. $14.0 $12.0 $10.2 $10.0 $9.4 $8.3 $8.6 $8.6 $8.0 $8.0 $8.2 $8.0 $7.7 $6.0 $5.2 $5.0 $4.5 $4.8 $4.1 $4.0 $3.4 $2.9 $2.2 $2.0 $1.6 $- Q3 '14 Q4 '14 Q1 '15 Q2 '15 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3 '16 12
Slide 13: Drive to Sustainable Growth and Profitability
Drive to Sustainable Growth and Profitability • Continue to focus on fundamentals: • Grow sales and leverage our cost base through increased volumes • Improved margins via ongoing design improvements, exploiting advances in IoT functionality, implementing new technologies and leveraging volumes in o
Slide 14: Plug Power
PLUG POWER Li:
Slide 15: Corporate Headquarters
Corporate Headquarters 968 Albany Shaker Road, Latham, NY 12110 West Coast 15913 E. Euclid Avenue, Spokane, WA 99216 plugpower.com