Plug Power Inc. (PLUG) ROTH Annual Conference (Transcript)

Plug Power Inc. (NASDAQ:PLUG) ROTH Annual Conference March 17, 2025 11:30 AM ET

Company Participants

Andy Marsh – CEO

Conference Call Participants

Craig Irwin – ROTH Capital Partners

Craig Irwin

We’re going to go ahead and get started with the next fireside chat. So I have an old friend next to me, Andy Marsh. We’ve known each other since 2001.

Andy Marsh

It’s been a long time, Craig.

Craig Irwin

Oh my gosh.

Andy Marsh

Long time. Good days, bad days, different days.

Craig Irwin

A lot of water under that bridge, that’s for sure.

Andy Marsh

Absolutely.

Question-and-Answer Session

Q – Craig Irwin

So, Plug’s gone through some radical transformation over the last few years. And right now we’re kind of — we’re at a crossroads where you did some amazing work with DOE, setting up a hydrogen strategy. People don’t know 40% of the groceries in the country are moved by hydrogen forklifts today.

Really just transformation of the opportunity for hydrogen. And, you know, there’s a lot of sort of minutiae that people are focused on. So, I guess the first one is the revenue guidance, right? This year, I think from what you said on your call, it looks like $700 million to $800 million. Can you talk about maybe the progression there, right? How do we see this playing out over the course of the year? I know you’re focused on shipping products profitably and driving margins, but how does this shape this revenue outlook for 2025?

Andy Marsh

So Craig, when I — let me take just a step back. This has been a tough time in the hydrogen industry. There’s no doubt. But hydrogen is incredibly valuable long-term for society. And there’s applications that exist today where value is being created. And we’re going through a significant resizing of Plug, where we’re