Plug Power (PLUG) 10-Q 9 Aug 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Aug. 05, 2022
Document and Entity Information:
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2022
Entity File Number	1-34392
Entity Registrant Name	Plug Power Inc
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	22-3672377
Entity Address, Address Line One	968 ALBANY SHAKER ROAD
Entity Address, City or Town	LATHAM
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	12110
City Area Code	518
Local Phone Number	782-7700
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	PLUG
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		578,695,912
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Entity Central Index Key	0001093691
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 2,255,951	$ 2,481,269
Restricted cash	146,013	118,633
Available-for-sale securities, at fair value (amortized cost $736,983 and allowance for credit losses of $0 at June 30, 2022 and amortized cost $1,242,933 and allowance for credit losses of $0 at December 31, 2021)	715,906	1,240,265
Equity securities	134,342	147,995
Accounts receivable	61,502	92,675
Inventory	429,549	269,163
Contract assets	38,961	38,637
Prepaid expenses and other current assets	111,846	59,888
Total current assets	3,894,070	4,448,525
Restricted cash	559,713	532,292
Property, plant, and equipment, net	431,492	255,623
Right of use assets related to finance leases, net	44,201	32,494
Right of use assets related to operating leases, net	241,421	212,537
Equipment related to power purchase agreements and fuel delivered to customers, net	83,159	72,902
Contract assets	182	120
Goodwill	235,026	220,436
Intangible assets, net	204,213	158,208
Investments in non-consolidated entities and non-marketable equity securities	37,007	12,892
Other assets	3,920	4,047
Total assets	5,734,404	5,950,076
Current liabilities:
Accounts payable	146,166	92,307
Accrued expenses	98,341	79,237
Deferred revenue and other contract liabilities	60,315	116,377
Operating lease liabilities	37,214	30,822
Finance lease liabilities	6,324	4,718
Finance obligations	46,784	42,040
Current portion of long-term debt	980	15,252
Loss accrual for service contracts and other current liabilities	31,645	39,800
Total current liabilities	427,769	420,553
Deferred revenue and other contract liabilities	67,390	66,713
Operating lease liabilities	193,333	175,635
Finance lease liabilities	32,972	24,611
Finance obligations	219,622	211,644
Convertible senior notes, net	193,269	192,633
Long-term debt	91,677	112,794
Contingent consideration, loss accrual for service contracts, and other liabilities	169,791	139,797
Total liabilities	1,395,823	1,344,380
Stockholders' equity:
Common stock, $0.01 par value per share; 1,500,000,000 shares authorized; Issued (including shares in treasury): 595,709,539 at June 30, 2022 and 594,729,610 at December 31, 2021	5,958	5,947
Additional paid-in capital	7,163,486	7,070,710
Accumulated other comprehensive loss	(28,989)	(1,532)
Accumulated deficit	(2,726,688)	(2,396,903)
Less common stock in treasury: 17,210,049 at June 30, 2022 and 17,074,710 at December 31, 2021	(75,186)	(72,526)
Total stockholders' equity	4,338,581	4,605,696
Total liabilities and stockholders' equity	$ 5,734,404	$ 5,950,076

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Condensed Consolidated Balance Sheets
Amortized cost	$ 736,983	$ 1,242,933
Allowance for Credit Losses	$ 0	$ 0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	1,500,000,000	1,500,000,000
Common stock, shares issued	595,709,539	594,729,610
Common stock in treasury, shares	17,210,049	17,074,710

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations € in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2021 USD ($) $ / shares shares	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2022 EUR (€) shares	Jun. 30, 2021 USD ($) $ / shares shares	Jun. 30, 2021 EUR (€) shares
Net revenue:
Net revenue	$ 151,267	$ 124,557	$ 292,070		$ 196,515
Cost of revenue:
Provision for loss contracts related to service	1,068	6,694	3,116		8,179
Total cost of revenue	183,732	164,855	359,885		248,984
Gross loss	(32,465)	(40,298)	(67,815)		(52,469)
Operating expenses:
Research and development	23,557	11,247	44,018		20,989
Selling, general and administrative	95,953	38,652	176,842		64,231
Change in fair value of contingent consideration	(5,066)	(560)	(2,605)		230
Total operating expenses	114,444	49,339	218,255		85,450
Operating loss	(146,909)	(89,637)	(286,070)		(137,919)
Interest income	3,838	1,446	5,892		1,513
Interest expense	(11,203)	(11,714)	(19,851)		(24,047)
Other expense, net	(2,456)	(70)	(3,765)		(268)
Realized loss on investments, net	(468)	18	(1,315)		18
Change in fair value of equity securities	(13,484)	323	(18,643)		323
Loss on equity method investments	(2,191)		(6,024)
Loss before income taxes	(172,873)	(99,634)	(329,776)		(160,380)
Income tax expense	423	0	9	€ (9)		€ 0
Net loss	$ (173,296)	$ (99,634)	$ (329,785)		$ (160,380)
Net loss per share:
Net loss per share, basic | $ / shares	$ (0.30)	$ (0.18)	$ (0.57)		$ (0.30)
Net loss per share, diluted | $ / shares	$ (0.29)	$ (0.18)	$ (0.56)		$ (0.30)
Weighted average number of common stock outstanding, basic | shares	578,043,278	567,033,722	578,217,636	578,217,636	540,394,003	540,394,003
Weighted average number of common stock outstanding, diluted | shares	578,043,278	567,033,722	578,217,636	578,217,636	540,394,003	540,394,003
Sales of fuel cell systems, related infrastructure and equipment
Net revenue:
Net revenue	$ 116,233	$ 99,278	$ 225,080		$ 146,050
Cost of revenue:
Cost of revenue	94,153	79,913	182,981		108,887
Services performed on fuel cell systems and related infrastructure
Net revenue:
Net revenue	8,822	5,675	17,062		11,720
Cost of revenue:
Cost of revenue	11,612	15,475	25,487		28,561
Power purchase agreements
Net revenue:
Net revenue	11,169	8,361	21,206		16,187
Cost of revenue:
Cost of revenue	34,892	22,234	66,645		40,577
Fuel delivered to customers and related equipment
Net revenue:
Net revenue	14,472	11,121	27,900		22,248
Cost of revenue:
Cost of revenue	41,607	40,331	80,879		62,474
Other
Net revenue:
Net revenue	571	122	822		310
Cost of revenue:
Cost of revenue	$ 400	$ 208	$ 777		$ 306

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Condensed Consolidated Statements of Comprehensive Loss
Net loss	$ (173,296)	$ (99,634)	$ (329,785)	$ (160,380)
Foreign currency translation (loss) gain	(7,198)	581	(9,048)	(542)
Change in net unrealized loss on available-for-sale securities	(3,329)	(1,967)	(18,409)	(1,875)
Comprehensive loss attributable to the Company	$ (183,823)	$ (101,020)	$ (357,242)	$ (162,797)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock Private placement	Common Stock	Additional Paid-in-Capital Private placement	Additional Paid-in-Capital	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Accumulated Deficit	Private placement	Total
Balance at Dec. 31, 2020		$ 4,740		$ 3,446,650	$ 2,451	$ (40,434)	$ (1,946,488)		$ 1,466,919
Balance (in shares) at Dec. 31, 2020		473,977,469				15,926,068
Increase (Decrease) in Stockholders' Equity
Net income							(60,746)		(60,746)
Other comprehensive (loss) gain					(1,031)				(1,031)
Stock-based compensation				9,695					9,695
Stock-based compensation (in shares)		15,166
Issuance of common stock, net	$ 549	$ 322	$ 1,564,088	2,022,866				$ 1,564,637	2,023,188
Issuance of common stock, net (in shares)	54,966,188	32,200,000
Stock option exercises		$ 18		4,691					4,709
Stock option exercises (in shares)		1,758,375
Exercise of warrants		$ 163		15,282					15,445
Exercise of warrants (in shares)		16,308,978
Provision for common stock warrants				1,601					1,601
Conversion of 3.75% Convertible Senior Note		$ 30		15,155					15,185
Conversion of 3.75% Convertible Senior Note (in shares)		3,016,036
Repurchase of 5.5% Convertible Senior Notes, net of income tax benefit		$ 1		159					160
Repurchase of 5.5% Convertible Senior Notes, net of income tax benefit (in shares)		69,808
Balance (ASU 2020-06) at Mar. 31, 2021				(130,249)			9,550		(120,699)
Balance at Mar. 31, 2021		$ 5,823		6,949,938	1,420	$ (40,434)	(1,997,684)		4,919,063
Balance (in shares) at Mar. 31, 2021		582,312,020				15,926,068
Balance at Dec. 31, 2020		$ 4,740		3,446,650	2,451	$ (40,434)	(1,946,488)		1,466,919
Balance (in shares) at Dec. 31, 2020		473,977,469				15,926,068
Increase (Decrease) in Stockholders' Equity
Net income									(160,380)
Balance (ASU 2020-06) at Jun. 30, 2021				64			(1)		63
Balance at Jun. 30, 2021		$ 5,868		6,962,720	34	$ (40,434)	(2,097,319)		4,830,869
Balance (in shares) at Jun. 30, 2021		586,848,225				15,926,068
Balance (ASU 2020-06) at Mar. 31, 2021				(130,249)			9,550		(120,699)
Balance at Mar. 31, 2021		$ 5,823		6,949,938	1,420	$ (40,434)	(1,997,684)		4,919,063
Balance (in shares) at Mar. 31, 2021		582,312,020				15,926,068
Increase (Decrease) in Stockholders' Equity
Net income							(99,634)		(99,634)
Other comprehensive (loss) gain					(1,386)				(1,386)
Stock-based compensation				11,120					11,120
Stock option exercises				(4)					(4)
Stock option exercises (in shares)		2,075
Exercise of warrants		$ 45		(40)					5
Exercise of warrants (in shares)		4,534,130
Provision for common stock warrants				1,642					1,642
Balance (ASU 2020-06) at Jun. 30, 2021				64			(1)		63
Balance at Jun. 30, 2021		$ 5,868		6,962,720	34	$ (40,434)	(2,097,319)		4,830,869
Balance (in shares) at Jun. 30, 2021		586,848,225				15,926,068
Balance at Dec. 31, 2021		$ 5,947		7,070,710	(1,532)	$ (72,526)	(2,396,903)		$ 4,605,696
Balance (in shares) at Dec. 31, 2021		594,729,610				17,074,710			594,729,610
Increase (Decrease) in Stockholders' Equity
Net income							(156,489)		$ (156,489)
Other comprehensive (loss) gain					(16,930)				(16,930)
Stock-based compensation		$ 2		43,384					43,386
Stock-based compensation (in shares)		226,221
Stock option exercises and issuance of shares of restricted common stock		$ 3		288					291
Stock option exercises and issuance of shares of restricted common stock (in shares)		253,525
Treasury stock acquired from employees upon exercise of stock options and vesting of restricted stock units						$ (1,465)			(1,465)
Treasury stock acquired from employees upon exercise of stock options and vesting of restricted stock units (in shares)						71,627
Provision for common stock warrants				1,743					1,743
Balance at Mar. 31, 2022		$ 5,952		7,116,125	(18,462)	$ (73,991)	(2,553,392)		4,476,232
Balance (in shares) at Mar. 31, 2022		595,209,356				17,146,337
Balance at Dec. 31, 2021		$ 5,947		7,070,710	(1,532)	$ (72,526)	(2,396,903)		$ 4,605,696
Balance (in shares) at Dec. 31, 2021		594,729,610				17,074,710			594,729,610
Increase (Decrease) in Stockholders' Equity
Net income									$ (329,785)
Balance at Jun. 30, 2022		$ 5,958		7,163,486	(28,989)	$ (75,186)	(2,726,688)		$ 4,338,581
Balance (in shares) at Jun. 30, 2022		595,709,539				17,210,049			595,709,539
Balance at Mar. 31, 2022		$ 5,952		7,116,125	(18,462)	$ (73,991)	(2,553,392)		$ 4,476,232
Balance (in shares) at Mar. 31, 2022		595,209,356				17,146,337
Increase (Decrease) in Stockholders' Equity
Net income							(173,296)		(173,296)
Other comprehensive (loss) gain					(10,527)				(10,527)
Stock-based compensation		$ 2		44,857					44,859
Stock-based compensation (in shares)		108,216
Stock option exercises and issuance of shares of restricted common stock		$ 4		525					529
Stock option exercises and issuance of shares of restricted common stock (in shares)		391,967
Treasury stock acquired from employees upon exercise of stock options and vesting of restricted stock units						$ (1,195)			(1,195)
Treasury stock acquired from employees upon exercise of stock options and vesting of restricted stock units (in shares)						63,712
Provision for common stock warrants				1,979					1,979
Balance at Jun. 30, 2022		$ 5,958		$ 7,163,486	$ (28,989)	$ (75,186)	$ (2,726,688)		$ 4,338,581
Balance (in shares) at Jun. 30, 2022		595,709,539				17,210,049			595,709,539

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical)	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2021	Jan. 31, 2021	Dec. 31, 2020	May 31, 2020	May 29, 2020	May 18, 2020	Sep. 30, 2019	Mar. 31, 2018
3.75% Convertible Senior Notes
Interest rate (as a percent)	3.75%	3.75%				3.75%	3.75%	3.75%
5.5% Convertible Senior Notes
Interest rate (as a percent)			5.50%	5.50%	5.50%	5.50%				5.50%
7.5% Convertible Senior Note
Interest rate (as a percent)			7.50%						7.50%

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Operating activities
Net loss			$ (329,785)	$ (160,380)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation of long-lived assets			11,204	9,725
Amortization of intangible assets			10,374	730
Stock-based compensation			88,245	20,815
Amortization of debt issuance costs and discount on convertible senior notes			1,336	1,726
Provision for common stock warrants			3,942	3,452
Deferred income tax benefit			(916)
(Benefit)/loss on service contracts			(18,131)	4,399
Fair value adjustment to contingent consideration			(2,605)	(230)
Net realized loss on investments	$ 468	$ (18)	1,315	(18)
Amortization of premium on available-for-sale securities			4,560
Lease origination costs			(3,150)	(4,553)
Loss on disposal of assets			268
Change in fair value for equity securities	13,484	(323)	18,643	(323)
Loss on equity method investments	2,191		6,024
Changes in operating assets and liabilities that provide (use) cash:
Accounts receivable			31,990	(48,318)
Inventory			(159,445)	(70,588)
Contract assets			(386)
Prepaid expenses and other assets			(51,654)	(22,967)
Accounts payable, accrued expenses, and other liabilities			38,663	4,047
Deferred revenue and other contract liabilities			(55,605)	15,848
Net cash used in operating activities			(405,113)	(246,635)
Investing activities
Purchases of property, plant and equipment			(157,838)	(33,062)
Purchases of equipment related to power purchase agreements and equipment related to fuel delivered to customers			(15,268)	(7,598)
Purchase of available-for-sale securities			(143,230)	(1,504,891)
Proceeds from sales of available-for-sale securities			475,676	260,313
Proceeds from maturities of available-for-sale securities			167,629
Purchase of equity securities			(4,990)	(119,979)
Net cash paid for acquisitions			(26,473)
Cash paid for non-consolidated entities and non-marketable equity securities			(30,139)
Net cash provided by (used in) investing activities			265,367	(1,405,217)
Financing activities
Proceeds from exercise of warrants, net of transaction costs				15,450
Payments of contingent consideration			(2,667)
Proceeds from public and private offerings, net of transaction costs				3,587,825
Payments of tax withholding on behalf of employees for net stock settlement of stock-based compensation			(2,660)
Proceeds from exercise of stock options			820	4,705
Principal payments on long-term debt			(36,089)	(15,564)
Proceeds from finance obligations			35,048	32,159
Principal repayments of finance obligations and finance leases			(25,168)	(17,281)
Net cash (used in) provided by financing activities			(30,716)	3,607,294
Effect of exchange rate changes on cash			(55)	(163)
(Decrease)/increase in cash and cash equivalents			(225,318)	1,847,766
Increase in restricted cash			54,801	107,513
Cash, cash equivalents, and restricted cash beginning of period			3,132,194	1,634,284	$ 1,634,284
Cash, cash equivalents, and restricted cash end of period	$ 2,961,677	$ 3,589,563	2,961,677	3,589,563	$ 3,132,194
Supplemental disclosure of cash flow information
Cash paid for interest, net capitalized interest of $5.8 million			18,737	11,261
Summary of non-cash activity
Recognition of right of use asset - finance leases			12,644	11,286
Recognition of right of use asset - operating leases			40,352	39,271
Intangible assets acquired in a business combination			(5,124)
Intangible assets acquired in a business combination			60,522
Conversion of convertible senior notes to common stock				15,345
Net transfers between inventory and long-lived assets			916
Accrued purchase of fixed assets, cash to be paid in subsequent period			$ 39,681	$ 6,124

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Parenthetical) $ in Millions	6 Months Ended
	Jun. 30, 2022 USD ($)
Condensed Consolidated Statements of Cash Flows
Net capitalized interest	$ 5.8

Nature of Operations

Nature of Operations	6 Months Ended
	Jun. 30, 2022
Nature of Operations
Nature of Operations	1. Nature of Operations ​ Plug Power Inc. (the “Company,” “Plug,” “we” or “our”) is facilitating the paradigm shift to an increasingly electrified world by innovating cutting-edge hydrogen and fuel cell solutions. While we continue to develop commercially-viable hydrogen and fuel cell product solutions to replace lead-acid and lithium batteries in electric material handling vehicles and industrial trucks for some of the world’s largest retail-distribution and manufacturing businesses, we have expanded our offerings to support a variety of commercial operations that can be powered with green hydrogen. We also provide electrolyzers that allow customers — such as refineries, producers of chemicals, steel and fertilizer and commercial refueling stations — to generate hydrogen on-site. Additionally, we intend for our electrolyzers to be used to generate green hydrogen within Plug’s own plants that will then be sold to customers. We are focusing our efforts on industrial mobility applications, including electric forklifts and electric industrial vehicles, at multi-shift high volume manufacturing and high throughput distribution sites where we believe our products and services provide a unique combination of productivity, flexibility, and environmental benefits. Additionally, we manufacture and sell fuel cell products to replace batteries and diesel generators in stationary back-up power applications for telecommunications, transportation, and utility customers. Plug supports these markets with an ecosystem of integrated products that make, transport, handle, dispense and use hydrogen. ​

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies ​ Principles of Consolidation ​ The unaudited interim condensed consolidated financial statements include the financial statements of the Company and its wholly-owned subsidiaries. Intercompany balances and transactions have been eliminated in consolidation. In addition, we include our share of the results of our joint venture with Renault SAS (“Renault”) named HyVia, a French société par actions simplifiée (“HyVia”), AccionaPlug S.L., and SK Plug Hyverse Co., Ltd., using the equity method based on our economic ownership interest and our ability to exercise significant influence over the operating and financial decisions of HyVia, AccionaPlug S.L., and SK Plug Hyverse Co., Ltd. ​ Interim Financial Statements ​ The accompanying unaudited interim condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments, which consist solely of normal recurring adjustments, necessary to present fairly, in accordance with U.S. generally accepted accounting principles (“GAAP”), the financial position, results of operations and cash flows for all periods presented, have been made. The results of operations for the interim periods presented are not necessarily indicative of the results that may be expected for the full year. ​ Certain information and footnote disclosures normally included in annual consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. These unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 (the “2021 Form 10-K”). ​ The information presented in the accompanying unaudited interim condensed consolidated balance sheets as of December 31, 2021 has been derived from the Company’s December 31, 2021 audited consolidated financial statements. ​ The unaudited interim condensed consolidated financial statements contained herein should be read in conjunction with our 2021 Form 10-K . ​ ​ Recent Accounting Pronouncements Recently Adopted Accounting Guidance ​ Other than the adoption of the accounting guidance mentioned i n our 2021 Form 10-K, ​ Recent Accounting Guidance Not Yet Effective ​ All issued but not yet effective accounting and reporting standards as of June 30, 2022 are either not applicable to the Company or are not expected to have a material impact on the Company. ​ ​

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2022
Acquisitions
Acquisitions	3. Acquisitions ​ Joule Processing LLC ​ On January 14, 2022, the Company acquired Joule Processing LLC (“Joule”), an engineered modular equipment, process design and procurement company founded in 2009. ​ The fair value of consideration paid by the Company in connection with the Joule acquisition was as follows (in thousands): ​ ​ ​ ​ Cash $ 28,140 Contingent consideration ​ 41,732 Total consideration $ 69,872 ​ ​ The contingent consideration represents the estimated fair value associated with earn-out payments of up to $130 million that the sellers are eligible to receive in cash or shares of the Company’s common stock (at the Company’s election). Of the total earnout consideration, $90 million is related to the achievement of certain financial performance and $40 million is related to the achievement of certain internal operational milestones. ​ The following table summarizes the preliminary allocation of the purchase price to the estimated fair value of the net assets acquired, excluding goodwill (in thousands): ​ ​ ​ ​ Current assets $ 2,672 Property, plant and equipment ​ 493 Right of use asset ​ 182 Identifiable intangible assets ​ 60,522 Lease liability ​ (374) Current liabilities ​ (2,612) Contract liability ​ (3,818) Total net assets acquired, excluding goodwill $ 57,065 ​ The preliminary allocation of the purchase price is still considered provisional due to the finalization of the valuation for the assets acquired and liabilities assumed in relation to the Joule acquisition. Therefore, the fair values of the assets acquired and liabilities assumed are subject to change as we obtain additional information for valuation assumptions such as market demand for Joule product lines to support forecasted revenue growth and the likelihood of achieving earnout milestones during the measurement period, which will not exceed 12 months from the date of acquisition. During the three months ended June 30, 2022, the Company recorded an adjustment to goodwill of $136 thousand due to the payment of a hold back liability related to the Joule acquisition and was recorded in accrued expenses in the unaudited interim condensed consolidated balance sheet. ​ The fair value of the developed technology totaling $59.2 million included in the identifiable intangible assets was calculated using the multi-period excess earnings method (“MPEEM”) approach which is a variant of the income approach. The basic principle of the MPEEM approach is that a single asset, in isolation, is not capable of generating cash flow for an enterprise. Several assets are brought together and exploited to generate cash flow. Therefore, to determine cash flow from the developed technology over its useful life of 15 years , one must deduct the related expenses incurred for the exploitation of other assets used for the generation of overall cash flow. The fair value of the tradename totaling $0.8 million was calculated using the relief from royalty approach which is a variant of the income approach, and was assigned a useful life of four years . The fair value of the non-compete agreements was $0.5 million with a useful life of six years . ​ In addition to identifiable intangible assets, the fair value of acquired work in process and finished goods inventory, included in inventory, was estimated based on the estimated selling price less costs to be incurred and a market participant profit rate. ​ In connection with the acquisition, the Company recorded on its consolidated balance sheet a liability of $41.7 million representing the fair value of contingent consideration payable, and is recorded in the unaudited interim condensed consolidated balance sheet in the . The fair value of this contingent and as a result a $4.8 million reduction was recorded in the unaudited interim condensed consolidated statement of operations for the three and six months ended June 30, 2022. ​ Included in the purchase price consideration are contingent earn-out payments as described above. Due to the nature of the earn-outs, a scenario based analysis using the probability of achieving the milestone expectations was used to determine the fair value of the contingent consideration. These fair value measurements were based on unobservable inputs and are considered to be level 3 financial instruments. ​ The goodwill was primarily attributed to the value of synergies created with the Company’s current and future offerings and the value of the assembled workforce. Goodwill and intangible assets are not deductible for income tax purposes. Goodwill associated with the Joule acquisition was calculated as follows (in thousands): ​ ​ ​ ​ Consideration paid $ 28,140 Contingent consideration ​ 41,732 Less: net assets acquired ​ (57,065) Total goodwill recognized $ 12,807 ​ The acquisition of Joule contributed $2.0 million and $3.3 million to total consolidated revenue for the three and six months ended June 30, 2022, respectively. The Company determined it impractical to report net loss for the Joule acquisition for the three and six months ended June 30, 2022. ​ Applied Cryo Technologies Acquisition ​ On November 22, 2021, the Company acquired 100% of the outstanding shares of Applied Cryo Technologies, Inc. (“Applied Cryo”). Applied Cryo is a manufacturer of engineered equipment servicing multiple applications, including cryogenic trailers and mobile storage equipment for the oil and gas markets and equipment for the distribution of liquified hydrogen, oxygen, argon, nitrogen, and other cryogenic gases. ​ The fair value of consideration paid by the Company in connection with the Applied Cryo acquisition was as follows (in thousands): ​ ​ ​ ​ Cash $ 98,559 Plug Power Inc. Common Stock ​ 46,697 Contingent consideration ​ 14,000 Settlement of preexisting relationship ​ 2,837 Total consideration $ 162,093 ​ Included in the $98.6 million of cash consideration above, $5.0 million is consideration held by our paying agent in connection with the acquisition and is reported as restricted cash, with a corresponding accrued liability as of June 30, 2022 on the Company’s unaudited interim condensed consolidated balance sheet. We expect that this will be settled in the second half of 2022. ​ The contingent consideration represents the estimated fair value associated with earn-out payments of up to $30.0 million that the sellers are eligible to receive in cash or shares of the Company’s common stock (at the Company’s election). Of the total earnout consideration, $15.0 million is related to financial performance, and $15.0 million is related to internal operational milestones. ​ The following table summarizes the preliminary allocation of the purchase price to the estimated fair value of the net assets acquired, excluding goodwill (in thousands): ​ ​ ​ ​ Cash $ 1,180 Accounts receivable ​ 4,123 Inventory 24,655 Prepaid expenses and other assets ​ 1,506 Property, plant and equipment ​ 4,515 Right of use asset ​ 2,788 Identifiable intangible assets ​ 70,484 Lease liability ​ (2,672) Accounts payable, accrued expenses and other liabilities ​ (7,683) Deferred tax liability ​ (16,541) Deferred revenue ​ (12,990) Total net assets acquired, excluding goodwill $ 69,365 ​ The preliminary allocation of the purchase price is still considered provisional due to the tradename, technology, and customer relationship valuations. The Company continues to evaluate valuation assumptions such as the market demand for the Applied Cryo existing product lines to support forecasted revenue growth. Additionally, the Company continues to research the technology and buying power of Applied Cryo and evaluate the likelihood of achieving the additional production capacity needed in a timely manner to meet earnout milestones. During the three months ended June 30, 2022, the Company recorded a measurement period adjustment to goodwill of $0.5 million due to a release of escrow, which was recorded to accrued expenses in the unaudited interim condensed consolidated balance sheet. Any necessary adjustments will be finalized within one year from the date of acquisition. ​ Identifiable intangible assets consisted of developed technology, tradename, acquired customer relationships, non-compete agreements and backlog. The fair value of the developed technology totaling $26.3 million was calculated using the relief from royalty approach which is a variant of the income approach. The application of the relief from royalty approach involves estimating the value of an intangible asset by quantifying the present value of the stream of market derived royalty payments that the owner of the intangible asset is exempted or ‘relieved’ from paying. The developed technology has a useful life of 15 years . The fair value of the tradename totaling $13.7 million was calculated using the relief from royalty approach with a useful life of 15 years . The fair value of the acquired customer relationships totaling $26.6 million was calculated using the MPEEM approach and has a 15 year useful life. The fair value of the acquired customer relationships was estimated by discounting the net cash flow derived from the expected revenues attributable to the acquired customer relationships. The fair value of the non-compete agreements was $1.0 million with a useful life of three years . The fair value of the customer backlog was $2.9 million with a useful life of one year . ​ In addition to identifiable intangible assets, the fair value of acquired work in process and finished goods inventory, included in inventory, was estimated based on the estimated selling price less costs to be incurred and a market participant profit rate. ​ Included in the purchase price consideration are contingent earn-out payments described above. Due to the nature of the earn-outs, a scenario based analysis using the probability of achieving the milestone expectations was used to value these contingent payments. These fair value measurements were based on unobservable inputs and are considered to be level 3 financial instruments. ​ In connection with the acquisition, the Company recorded on its consolidated balance sheet a liability of $14.0 million representing the fair value of contingent consideration payable. The fair value of this contingent and was $13.7 million as of June 30, 2022, and reductions of $0.4 million and $0.3 million was recorded in the unaudited interim condensed consolidated statement of operations for the three and six months ended June 30, 2022, respectively. ​ Included in Applied Cryo’s total net assets acquired, excluding goodwill, were net deferred tax liabilities of $16.5 million. In connection with the acquisition of these net deferred tax liabilities, the Company reduced its valuation allowance by $16.5 million and recognized a tax benefit $16.5 million during the year ended December 31, 2021. ​ The goodwill was primarily attributed to the value of synergies created with the Company’s current and future offerings and the value of the assembled workforce. Goodwill and intangible assets are not deductible for income tax purposes. Goodwill associated with the Applied Cryo acquisition was calculated as follows (in thousands): ​ ​ ​ ​ Consideration paid $ 162,093 Less: net assets acquired ​ (69,365) Total goodwill recognized $ 92,728 ​ The acquisition of Applied Cryo contributed $16.2 million and $33.1 million to total consolidated revenue for the three and six months ended June 30, 2022, respectively. The Company determined it impractical to report net loss for the Applied Cryo acquisition for the three and six months ended June 30, 2022. ​ Frames Holding B.V. Acquisition ​ On December 9, 2021, the Company acquired 100% of the outstanding shares of Frames Holding B.V. (“Frames”). Frames, a leading provider of turnkey hydrogen solutions. ​ The fair value of consideration paid by the Company in connection with the Frames acquisition was as follows (in thousands): ​ ​ ​ ​ Cash $ 94,541 Contingent consideration ​ 29,057 Settlement of preexisting relationship ​ 4,263 Total consideration $ 127,861 ​ The contingent consideration represents the estimated fair value associated with earn-out payments of up to €30.0 million that the sellers are eligible to receive in the form of cash. The contingent consideration is related to the achievement of certain internal operational targets during the four years following the closing date and is payable in two equal installments. ​ The following table summarizes the preliminary allocation of the purchase price to the estimated fair value of the total net assets acquired, excluding goodwill (in thousands): ​ ​ ​ ​ Cash $ 45,394 Accounts receivable ​ 17,910 Inventory 34 Prepaid expenses and other assets ​ 3,652 Property, plant and equipment ​ 709 Right of use asset ​ 1,937 Contract asset ​ 9,960 Identifiable intangible assets ​ 50,478 Lease liability ​ (1,937) Contract liability ​ (22,737) Accounts payable, accrued expenses and other liabilities ​ (18,465) Deferred tax liability ​ (11,259) Provision for loss contracts ​ (2,636) Warranty provisions ​ (7,566) Total net assets acquired, excluding goodwill $ 65,474 ​ The preliminary allocation of the purchase price is still considered provisional due to outstanding customer valuation analysis. Identifiable intangible assets consisted of developed technology, tradename, acquired customer relationships, non-compete agreements and backlog. Any necessary adjustments will be finalized within one year from the date of acquisition. During the three months ended June 30, 2022, the Company recorded a measurement period adjustment to goodwill of $7.2 million due to the recording of the deferred tax treatment surrounding the tangible and intangible assets acquired, which was recorded to contingent consideration, loss accrual for service contracts, and other liabilities in the unaudited interim condensed consolidated balance sheet. ​ The fair value of the developed technology totaling $5.3 million was calculated using the relief from royalty approach which is a variant of the income approach, and it has a useful life of eight years . The fair value of the tradename totaling $11.6 million was calculated using the relief from royalty approach, and it has a useful life of eight years . The fair value of the acquired customer relationships totaling $27.2 million was calculated using the MPEEM approach which is a variant of the income approach, and it has a useful life of 17 years . The fair value of the customer relationships was estimated by discounting the net cash flow derived from the expected revenues attributable to the acquired customer relationships. The fair value of the non-compete agreements totaling $4.9 million was calculated using the with and without income approach, and it has a useful life of approximately four years . The fair value of the backlog was $1.4 million, and it has a useful life of one year . ​ Included in the purchase price consideration are contingent earn-out payments described above. Due to the nature of the earn-outs, a scenario based analysis using the probability of achieving the milestone expectations was used to determine the fair value of the contingent consideration. These fair value measurements were based on unobservable inputs and are considered to be level 3 financial instruments. ​ In connection with the acquisition, the Company recorded on its consolidated balance sheet a liability of $29.1 million representing the fair value of contingent consideration payable. The fair value of this contingent consideration was remeasured as of June 30, 2022 and was $28.0 million as of June 30, 2022. The change in fair value decline was partially due to a change in the foreign currency translation, partially offset by an increase in the liability. The Company recorded an adjustment of $1.4 million and $1.1 million for the three and six months ended June 30, 2022 in the unaudited interim condensed consolidated statement of operations. ​ Included in Frames’ total net assets acquired, excluding goodwill, are net deferred tax liabilities of $4.1 million. ​ The goodwill was primarily attributed to the value of synergies created with the Company’s current and future offerings and the value of the assembled workforce. Goodwill and intangible assets are not deductible for income tax purposes. Goodwill associated with the Frames acquisition was calculated as follows (in thousands): ​ ​ ​ ​ Consideration paid $ 127,861 Less: net assets acquired ​ (65,474) Total goodwill recognized $ 62,387 ​ The above estimates are preliminary in nature and subject to adjustments. Any necessary adjustments will be finalized within one year from the date of acquisition. Substantially all the receivables acquired are expected to be collectable. Purchased goodwill is not expected to be deductible for tax purposes. ​ The acquisition of Frames contributed $28.6 million and $50.5 million to total consolidated revenue for the three and six months ended June 30, 2022, respectively. The following table reflects the unaudited pro forma results of operations for the six months ended June 30, 2021 assuming that the Frames acquisition had occurred on January 1, 2021 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ June 30, 2021 ​ June 30, 2021 Revenue $ 14,397 ​ $ 31,804 Net income $ 879 ​ $ 1,034 ​ The unaudited pro forma net income for the three and six months ended June 30, 2021 have been adjusted to reflect increased amortization of intangibles as if the acquisition had occurred on January 1, 2021. The unaudited pro forma information is presented for informational purposes only and is not necessarily indicative of the actual results that would have been achieved had the Frames acquisition occurred as of January 1, 2021 or indicative of the results that may be achieved in future periods. ​ None of the Joule and Applied Cryo Technologies acquisition was material to our consolidated results of operations or financial position and, therefore, pro forma financial information is not presented.

Extended Maintenance Contracts

Extended Maintenance Contracts	6 Months Ended
	Jun. 30, 2022
Extended Maintenance Contracts
Extended Maintenance Contracts	4. Extended Maintenance Contracts ​ On a quarterly basis, we evaluate any potential losses related to our extended maintenance contracts for fuel cell systems and related infrastructure that have been sold. The following table shows the rollforward of balance in the accrual for loss contracts, including changes due to the provision for loss accrual, loss accrual from acquisition, releases to service cost of sales, and releases due to the provision for warrants (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ Six months ended ​ Year ended ​ June 30, 2022 ​ December 31, 2021 Beginning balance $ 89,773 ​ $ 24,013 Provision for loss accrual ​ 3,116 ​ ​ 71,988 Loss accrual from acquisition ​ — ​ ​ 2,636 Releases to service cost of sales ​ (21,247) ​ ​ (8,864) Foreign currency translation adjustment ​ (103) ​ ​ — Ending balance $ 71,539 ​ $ 89,773 ​

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2022
Earnings Per Share
Earnings Per Share	5. Earnings Per Share ​ Basic earnings per common stock are computed by dividing net loss attributable to common stockholders by the weighted average number of common stock outstanding during the reporting period. In periods when we have net income, the shares of our common stock subject to the convertible notes outstanding during the period will be included in our diluted earnings per share under the if-converted method. Since the Company is in a net loss position, all common stock equivalents would be considered anti-dilutive and are therefore not included in the determination of diluted earnings per share. Accordingly, basic and diluted loss per share are the same. ​ The potentially dilutive securities are summarized as follows: ​ ​ ​ ​ ​ ​ ​ ​ At June 30, ​ 2022 2021 Stock options outstanding (1) ​ 24,184,619 9,165,066 Restricted stock outstanding (2) ​ 5,616,280 6,511,808 Common stock warrants (3) ​ 80,017,181 ​ 83,518,821 Convertible Senior Notes (4) ​ 39,170,766 39,170,766 Number of dilutive potential shares of common stock ​ 148,988,846 138,366,461 ​ (1) During the three months ended June 30, 2022 and 2021, the Company granted options for 308,351 and 117,500 shares of common stock, respectively. During the six months ended June 30, 2022 and 2021, the Company granted options for 759,851 and 698,500 shares of common stock, respectively. ​ (2) During the three months ended June 30, 2022 and 2021, the Company granted 323,991 and 98,000 restricted shares of common stock, respectively. During the six months ended June 30, 2022 and 2021, the Company granted 1,126,491 and 653,000 restricted shares of common stock, respectively. ​ (3) In April 2017, the Company issued a warrant to acquire up to 55,286,696 shares of the Company’s common stock as part of a transaction agreement with Amazon, subject to certain vesting events, as described in Note 12, “Warrant Transaction Agreements.” The warrant had been exercised with respect to 17,461,994 and 13,960,354 shares of the Company’s common stock as of June 30, 2022 and 2021, respectively. ​ In July 2017, the Company issued a warrant to acquire up to 55,286,696 shares of the Company’s common stock as part of a transaction agreement with Walmart, subject to certain vesting events, as described in Note 12, “Warrant Transaction Agreements.” The warrant had been exercised with respect to 13,094,217 shares of the Company’s common stock as of June 30, 2022 and 2021. ​ (4) In March 2018, the Company issued $100.0 million in aggregate principal amount of the 5.5% Convertible Senior Notes due 2023 (the “ 5.5% Convertible Senior Notes”). In May 2020, the Company repurchased $66.3 million of the 5.5% Convertible Senior Notes and in the fourth quarter of 2020, $33.5 million of the 5.5% Convertible Senior Notes were converted into approximately 14.6 million shares of common stock. The remaining $0.2 million aggregate principal amount of the 5.5% Convertible Senior Notes were converted into 69,808 shares of common stock in January 2021. In September 2019, the Company issued $40.0 million in aggregate principal amount of the 7.5% Convertible Senior Note due 2023 (the “ 7.5% Convertible Senior Note”), which was fully converted into 16.0 million shares of common stock on July 1, 2020. In May 2020, the Company issued $212.5 million in aggregate principal amount of the 3.75% Convertible Senior Notes. There were no conversions for the three and six months ended June 30, 2022. There were no conversations for the three months ended June 30, 2021. For the six months ended June 30, 2021, $15.2 million of the 3.75% Convertible Senior Notes were converted, resulting in the issuance of 3,016,036 shares of common stock.

Inventory

Inventory	6 Months Ended
	Jun. 30, 2022
Inventory
Inventory	​ 6. Inventory ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2022 ​ 2021 ​ Raw materials and supplies - production locations ​ $ 321,261 ​ $ 187,449 ​ Raw materials and supplies - customer locations ​ ​ 13,629 ​ ​ 16,294 ​ Work-in-process ​ 86,235 ​ 58,341 ​ Finished goods ​ 8,424 ​ 7,079 ​ Inventory ​ $ 429,549 ​ $ 269,163 ​ ​

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment
Property, Plant and Equipment	7. Property, Plant and Equipment ​ Property, plant and equipment at June 30, 2022 and December 31, 2021 consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ December 31, 2021 Land ​ $ 1,165 ​ $ 1,165 Construction in progress ​ ​ 332,982 ​ ​ 169,415 Leasehold improvements ​ ​ 2,895 ​ ​ 2,099 Software, machinery, and equipment ​ 131,699 ​ 112,068 Property, plant, and equipment ​ 468,741 ​ 284,747 Less: accumulated depreciation ​ (37,249) ​ (29,124) Property, plant, and equipment, net ​ $ 431,492 ​ $ 255,623 ​ Construction in progress is primarily comprised of construction of five hydrogen production plants and the Gigafactory in Rochester, NY. Completed assets are transferred to their respective asset classes, and depreciation begins when an asset is ready for its intended use. Interest on outstanding debt is capitalized during periods of capital asset construction and amortized over the useful lives of the related assets. During the three and six months ended June 30, 2022, the Company capitalized $1.5 million and $5.8 million of interest, respectively. ​ Depreciation expense related to property, plant and equipment was $5.5 million and $1.6 million for the three months ended June 30, 2022 and 2021, respectively. Depreciation expense related to property, plant and equipment was $8.1 million and $3.3 million for the six months ended June 30, 2022 and 2021, respectively.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	6 Months Ended
	Jun. 30, 2022
Intangible Assets and Goodwill
Intangible Assets and Goodwill	8. Intangible Assets and Goodwill ​ The gross carrying amount and accumulated amortization of the Company’s acquired identifiable intangible assets as of June 30, 2022 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ Gross Carrying ​ Accumulated ​ ​ ​ ​ ​ ​ Amortization Period ​ Amount ​ Amortization ​ Total Acquired technology 14 years $ 104,062 ​ $ (8,877) ​ $ 95,185 ​ Dry stack electrolyzer technology ​ 10 years ​ ​ 29,000 ​ ​ (967) ​ ​ 28,033 ​ Customer relationships, Non-compete agreements, Backlog & Trademark ​ 12 years ​ 88,345 ​ ​ (7,350) ​ ​ 80,995 ​ ​ ​ ​ ​ $ 221,407 ​ $ (17,194) ​ $ 204,213 ​ ​ The gross carrying amount and accumulated amortization of the Company’s acquired identifiable intangible assets as of December 31, 2021 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ Gross Carrying ​ Accumulated ​ ​ ​ ​ ​ ​ Amortization Period ​ Amount ​ Amortization ​ Total Acquired technology 13 years ​ $ 45,530 ​ $ (5,392) ​ $ 40,138 ​ Customer relationships, Non-compete agreements, Backlog & Trademark ​ 12 years ​ ​ 90,497 ​ ​ (1,427) ​ ​ 89,070 ​ In process research and development Indefinite ​ 29,000 ​ ​ — ​ 29,000 ​ ​ ​ ​ ​ $ 165,027 ​ $ (6,819) ​ $ 158,208 ​ ​ The change in the gross carrying amount of the acquired technology from December 31, 2021 to June 30, 2022 was primarily due to the acquisition of Joule, the addition of the dry build electrolyzer stack related to the Giner ELX acquisition, and changes in foreign currency translation. ​ Amortization expense for acquired identifiable intangible assets for the three months ended June 30, 2022 and 2021 was $5.2 million and $0.4 million, respectively. Amortization expense for acquired identifiable intangible assets for the six months ended June 30, 2022 and 2021 was $10.4 million and $0.7 million, respectively. ​ ​ The estimated amortization expense for subsequent years is as follows (in thousands): ​ ​ ​ ​ ​ Remainder of 2022 $ 10,730 2023 ​ ​ 17,990 2024 ​ ​ 17,933 2025 ​ ​ 17,175 2026 ​ ​ 15,691 2027 and thereafter ​ ​ 124,694 Total ​ $ 204,213 ​ The change in the carrying amount of goodwill for the six month period ended June 30, 2022 was as follows (in thousands): ​ ​ ​ ​ ​ Beginning balance at December 31, 2021 ​ $ 220,436 Acquisitions ​ ​ 12,943 Measurement period adjustments ​ ​ 6,496 Foreign currency translation adjustment ​ (4,849) Ending balance at June 30, 2022 ​ $ 235,026

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2022
Long-Term Debt
Long-Term Debt	9. Long-Term Debt ​ In March 2019, the Company entered into a loan and security agreement, as amended (the “Loan Agreement”), with Generate Lending, LLC (“Generate Capital”), providing for a secured term loan facility in the amount of $100 million (the “Term Loan Facility”). On June 30, 2022, the outstanding balance under the Term Loan Facility was $83.3 million. The carrying value of the Term Loan Facility approximates fair value. ​ The Loan Agreement includes covenants, limitations, and events of default customary for similar facilities. Interest and a portion of the principal amount is payable on a quarterly basis. Principal payments are funded in part by releases of restricted cash, as described in Note 19, “Commitments and Contingencies.” Based on the amortization schedule as of June 30, 2022, the aforementioned loan balance under the Term Loan Facility will be fully paid by October 31, 2025. At June 30, 2022, the Company was in compliance with all debt covenants under the Term Loan Facility. ​ ​

Convertible Senior Notes

Convertible Senior Notes	6 Months Ended
	Jun. 30, 2022
Convertible Senior Notes.
Convertible Senior Notes	10. Convertible Senior Notes ​ 3.75% Convertible Senior Notes ​ On May 18, 2020, the Company issued $200.0 million in aggregate principal amount of 3.75% Convertible Senior Notes due June 1, 2025, in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). On May 29, 2020, the Company issued an additional $12.5 million in aggregate principal amount of 3.75% Convertible Senior Notes. During the three and six months ended June 30, 2022, there were no conversions of the 3.75% Convertible Senior Notes. The 3.75% Convertible Senior Notes consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ ​ 2022 Principal amounts: ​ ​ ​ ​ Principal ​ ​ $ 197,278 Unamortized debt issuance costs (1) ​ ​ ​ (4,009) Net carrying amount ​ ​ $ 193,269 1) Included in the unaudited interim condensed consolidated balance sheets within the 3.75% Convertible Senior Notes, net and amortized over the remaining life of the notes using the effective interest rate method. ​ The following table summarizes the total interest expense and effective interest rate related to the 3.75% Convertible Senior Notes (in thousands, except for effective interest rate): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ June 30, ​ ​ 2022 ​ 2021 ​ Interest expense ​ $ 1,849 ​ $ 1,850 ​ Amortization of debt issuance costs ​ ​ 320 ​ ​ 306 ​ Total ​ ​ 2,169 ​ ​ 2,156 ​ ​ ​ ​ ​ ​ ​ ​ ​ Effective interest rate ​ ​ 4.5% ​ ​ 4.5% ​ ​ ​ Capped Call ​ In conjunction with the pricing of the 3.75% Convertible Senior Notes, the Company entered into privately negotiated capped call transactions (the “3.75% Notes Capped Call”) with certain counterparties at a price of $16.2 million. The 3.75% Notes Capped Call covers, subject to anti-dilution adjustments, the aggregate number of shares of the Company’s common stock that underlie the initial 3.75% Convertible Senior Notes and The net cost incurred in connection with the 3.75% Notes Capped Call were recorded as a reduction to additional paid-in capital in the unaudited interim condensed consolidated balance sheets. The book value of the 3.75% Notes Capped Call is not remeasured. Common Stock Forward ​ In March 2018, the Company issued $100.0 million in aggregate principal amount of the 5.5% Convertible Senior Notes due on March 15, 2023, in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act, which have been fully converted into shares of common stock. In connection with the issuance of the 5.5% Convertible Senior Notes, the Company entered into a forward stock purchase transaction (the “Common Stock Forward”), pursuant to which the Company agreed to purchase 14,397,906 shares of its common stock for settlement on or about March 15, 2023. On May 18, 2020, the Company amended and extended the maturity of the Common Stock Forward to June 1, 2025. The number of shares of common stock that the Company will ultimately repurchase under the Common Stock Forward is subject to customary anti-dilution adjustments. The Common Stock Forward is subject to early settlement or settlement with alternative consideration in the event of certain corporate transactions. ​ The net cost incurred in connection with the Common Stock Forward of $27.5 million was recorded as an increase in treasury stock in the unaudited interim condensed consolidated balance sheets. The related shares were accounted for as a repurchase of common stock. The book value of the Common Stock Forward is not remeasured. ​ There were no shares of common stock settled in connection with the Common Stock Forward during the three and six months ended June 30, 2022. During the three and six months ended June 30, 2021, the Common Stock Forward was partially settled and 2.2 million shares and 8.1 million shares were received by the Company, respectively.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2022
Stockholders' Equity
Stockholders' Equity	11. Stockholders’ Equity ​ Common Stock and Warrants ​ In February 2021, the Company completed a sale of its common stock in connection with a strategic partnership with SK Holdings Co., Ltd. (“SK Holdings”) to accelerate the use of hydrogen as an alternative energy source in Asian markets. The Company sold 54,966,188 shares of its common stock to a subsidiary of SK Holdings at a purchase price of $29.2893 per share, or an aggregate purchase price of approximately $1.6 billion. ​ In January and February 2021, the Company issued and sold in a registered equity offering an aggregate of 32.2 million shares of its common stock at a purchase price of $65.00 per share for net proceeds of approximately $2.0 billion. ​ In November 2020, the Company issued and sold in a registered equity offering an aggregate of 43,700,000 shares of its common stock at a purchase price of $22.25 per share for net proceeds of approximately $927.3 million. ​ In August 2020, the Company issued and sold in a registered equity offering an aggregate of 35,276,250 shares of its common stock at a purchase price of $10.25 per share for net proceeds of approximately $344.4 million. ​ During 2017, warrants to purchase up to 110,573,392 shares of common stock were issued in connection with transaction agreements with Amazon and Walmart, as discussed in Note 12, “Warrant Transaction Agreements.” At June 30, 2022 and December 31, 2021, 75,655,478 of the warrant shares had vested, and were therefore exercisable. These warrants are measured at fair value at the time of grant or modification and are classified as equity instruments on the unaudited interim condensed consolidated balance sheets.

Warrant Transaction Agreements

Warrant Transaction Agreements	6 Months Ended
	Jun. 30, 2022
Warrant Transaction Agreements
Warrant Transaction Agreements	12. Warrant Transaction Agreements ​ Amazon Transaction Agreement ​ On April 4, 2017, the Company and Amazon entered into a Transaction Agreement (the “Amazon Transaction Agreement”), pursuant to which the Company agreed to issue to Amazon.com NV Investment Holdings LLC, a wholly owned subsidiary of Amazon, a warrant (the “Amazon Warrant”) to acquire up to 55,286,696 shares of the Company’s common stock (the “Amazon Warrant Shares”), subject to certain vesting events described below. The Company and Amazon entered into the Amazon Transaction Agreement in connection with existing commercial agreements between the Company and Amazon with respect to the deployment of the Company’s GenKey (defined below) fuel cell technology at Amazon distribution centers. The existing commercial agreements contemplate, but do not guarantee, future purchase orders for the Company’s fuel cell technology. The vesting of the Amazon Warrant Shares was conditioned upon payments made by Amazon or its affiliates (directly or indirectly through third parties) pursuant to the existing commercial agreements. ​ The warrant had been exercised with respect to 17,461,994 shares of the Company’s common stock as of June 30, 2022 and December 31, 2021. ​ At December 31, 2021, all 55,286,696 of the Amazon Warrant Shares had vested. For service contracts entered into prior to December 31, 2020, the warrant charge associated with that revenue was capitalized and is subsequently amortized over the life of the service contract. The total amount of provision for common stock warrants recorded as a reduction of revenue for the Amazon Warrant during the three months ended June 30, 2022 and 2021 was $0.1 million and $0.1 million, respectively. The total amount of provision for common stock warrants recorded as a reduction of revenue for the Amazon Warrant during the six months ended June 30, 2022 and 2021 was $0.2 million and $0.2 million, respectively. ​ Walmart Transaction Agreement ​ On July 20, 2017, the Company and Walmart entered into a Transaction Agreement (the “Walmart Transaction Agreement”), pursuant to which the Company agreed to issue to Walmart a warrant (the “Walmart Warrant”) to acquire up to 55,286,696 shares of the Company’s common stock, subject to certain vesting events (the “Walmart Warrant Shares”). The Company and Walmart entered into the Walmart Transaction Agreement in connection with existing commercial agreements between the Company and Walmart with respect to the deployment of the Company’s GenKey fuel cell technology across various Walmart distribution centers. The existing commercial agreements contemplate, but do not guarantee, future purchase orders for the Company’s fuel cell technology. The vesting of the warrant shares was conditioned upon payments made by Walmart or its affiliates (directly or indirectly through third parties) pursuant to transactions entered into after January 1, 2017 under existing commercial agreements. ​ The warrant had been exercised with respect to 13,094,217 shares of the Company’s common stock as of June 30, 2022 and December 31, 2021. ​ At June 30, 2022 and December 31, 2021, 20,368,782 of the Walmart Warrant Shares had vested. The total amount of provision for common stock warrants recorded as a reduction of revenue for the Walmart Warrant during the three months ended June 30, 2022 and 2021 was $2.0 million and $1.6 million, respectively. The total amount of provision for common stock warrants recorded as a reduction of revenue for the Walmart Warrant during the six months ended June 30, 2022 and 2021 was $3.7 million and $3.2 million, respectively. During the three and six months ended June 30, 2022 and 2021, respectively, the Walmart Warrant was exercised with respect to 0 and 7,274,565 shares of common stock.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2022
Revenue
Revenue	13. Revenue ​ Disaggregation of revenue ​ The following table provides information about disaggregation of revenue (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Major products/services lines ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, ​ Six months ended June 30, ​ ​ 2022 ​ 2021 ​ 2022 ​ 2021 Sales of fuel cell systems ​ $ 33,411 ​ $ 55,482 ​ $ 70,940 ​ $ 81,161 Sales of hydrogen infrastructure ​ ​ 32,414 ​ ​ 40,109 ​ ​ 59,502 ​ ​ 60,462 Sales of electolyzers ​ ​ 3,675 ​ ​ 3,687 ​ ​ 7,734 ​ ​ 4,427 Sales of engineered equipment ​ ​ 28,556 ​ ​ — ​ ​ 50,524 ​ ​ — Services performed on fuel cell systems and related infrastructure ​ ​ 8,822 ​ ​ 5,675 ​ ​ 17,062 ​ ​ 11,720 Power Purchase Agreements ​ ​ 11,169 ​ ​ 8,361 ​ ​ 21,206 ​ ​ 16,187 Fuel delivered to customers and related equipment ​ ​ 14,472 ​ ​ 11,121 ​ ​ 27,900 ​ ​ 22,248 Sales of cryogenic equipment ​ ​ 18,177 ​ ​ — ​ ​ 36,380 ​ ​ — Other ​ ​ 571 ​ ​ 122 ​ ​ 822 ​ ​ 310 Net revenue ​ $ 151,267 ​ $ 124,557 ​ $ 292,070 ​ $ 196,515 ​ Contract balances ​ The following table provides information about receivables, contract assets and contract liabilities from contracts with customers (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ ​ 2022 ​ 2021 Accounts receivable ​ $ 61,502 ​ $ 92,675 Contract assets ​ ​ 39,143 ​ ​ 38,757 Contract liabilities ​ ​ 127,705 ​ ​ 183,090 ​ Contract assets relate to contracts for which revenue is recognized on a straight-line basis; however, billings escalate over the life of a contract. Contract assets also include amounts recognized as revenue in advance of billings to customers, which are dependent upon the satisfaction of another performance obligation. These amounts are included in contract assets on the accompanying unaudited interim condensed consolidated balance sheets. ​ The contract liabilities relate to the advance consideration received from customers for services that will be recognized over time (primarily fuel cell and related infrastructure services) and advance consideration received from customers prior to delivery of products. These amounts are included within deferred revenue and other contract liabilities on the unaudited interim condensed consolidated balance sheets. ​ Significant changes in the contract assets and the contract liabilities balances during the period are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contract assets ​ Six months ended ​ ​ June 30, 2022 ​ December 31, 2021 Transferred to receivables from contract assets recognized at the beginning of the period ​ $ (12,096) ​ $ (14,638) Contract assets assumed as part of acquisition ​ ​ — ​ ​ 9,960 Revenue recognized and not billed as of the end of the period ​ ​ 12,482 ​ ​ 25,246 Net change in contract assets ​ $ 386 ​ $ 20,568 ​ ​ ​ ​ ​ ​ ​ ​ ​ Contract liabilities ​ Six months ended ​ ​ June 30, 2022 ​ December 31, 2021 Increases due to cash received, net of amounts recognized as revenue during the period ​ $ 41,170 ​ $ 182,052 Contract liabilities assumed as part of acquisitions ​ ​ 3,818 ​ ​ 35,727 Revenue recognized that was included in the contract liability balance as of the beginning of the period ​ ​ (100,373) ​ ​ (110,974) Net change in contract liabilities ​ $ (55,385) ​ $ 106,805 ​ Estimated future revenue ​ The following table includes estimated revenue included in the backlog expected to be recognized in the future (sales of fuel cell systems and hydrogen Power Purchase five ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2022 Sales of fuel cell systems ​ $ 14,758 Sales of hydrogen installations and other infrastructure ​ ​ 17,781 Sales of electrolyzers ​ ​ 77,061 Sales of engineered equipment ​ ​ 48,607 Services performed on fuel cell systems and related infrastructure ​ ​ 93,371 Power Purchase Agreements ​ ​ 252,003 Fuel delivered to customers and related equipment ​ ​ 81,785 Sales of cryogenic equipment ​ ​ 59,599 Total estimated future revenue ​ $ 644,965 ​ Contract costs ​ Contract costs consist of capitalized commission fees and other expenses related to obtaining or fulfilling a contract. Capitalized contract costs at June 30, 2022 and December 31, 2021 were $0.6 million and $0.4 million, respectively.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2022
Income Taxes
Income Taxes	14. Income Taxes ​ The domestic net deferred tax asset generated from the Company’s net operating loss has been offset by a full valuation allowance because it is more likely than not that the tax benefits of the net operating loss carry forward will not be realized. The Company recognizes accrued interest and penalties related to unrecognized tax benefits, if any, as a component of income tax expense.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2022
Fair Value Measurements
Fair Value Measurements	15. Fair Value Measurements ​ The Company records the fair value of assets and liabilities in accordance with ASC 820, Fair Value Measurement ​ In addition to defining fair value, ASC 820 expands the disclosure requirements around fair value and establishes a fair value hierarchy for valuation inputs. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. Each fair value measurement is reported in one of the three levels, which is determined by the lowest level input that is significant to the fair value measurement in its entirety. ​ These levels are: ● Level 1 — quoted prices (unadjusted) in active markets for identical assets or liabilities. ● Level 2 — quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. ● Level 3 — unobservable inputs reflecting management’s own assumptions about the inputs used in pricing the asset or liability at fair value. ​ Securities reported at fair value utilizing Level 1 inputs represent assets whose fair value is determined based upon observable unadjusted quoted market prices for identical assets in active markets. Level 2 securities represent assets whose fair value is determined using observable market information such as previous day trade prices, quotes from less active markets or quoted prices of securities with similar characteristics. Available-for-sale securities are characterized as Level 2 assets, as their fair values are determined using observable market inputs. Equity securities are characterized as Level 1 assets, as their fair values are determined using active markets for identical assets. There were no transfers between Level 1, Level 2, or Level 3 for the three and six months ended June 30, 2022. ​ Financial instruments not recorded at fair value on a recurring basis include equity method investments that have not been remeasured or impaired in the current period, such as our investments in HyVia, AccionaPlug S.L., and SK Plug Hyverse Co., Ltd. During the three and six months ended June 30, 2022, the Company contributed approximately $0 and $22.6 million, respectively, to HyVia, AccionaPlug S.L. and SK Plug Hyverse Co., Ltd. . ​ Assets and liabilities measured at fair value on a recurring basis are summarized below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2022 ​ ​ Carrying ​ Fair ​ Fair Value Measurements ​ ​ Amount ​ Value ​ Level 1 ​ Level 2 ​ Level 3 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash equivalents $ 117,860 $ 117,860 $ 117,860 $ — $ — Corporate bonds ​ 225,721 ​ 225,721 ​ — ​ 225,721 ​ — U.S. Treasuries ​ 490,185 ​ 490,185 ​ 490,185 ​ — ​ — Equity securities ​ 134,342 ​ 134,342 ​ 134,342 ​ — ​ — Swaps and forward contracts ​ 489 ​ 489 ​ 489 ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contingent consideration ​ 96,508 ​ 96,508 ​ — ​ — ​ 96,508 Swaps and forward contracts ​ 1,291 ​ 1,291 ​ 1,291 ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021 ​ ​ Carrying ​ Fair ​ Fair Value Measurements ​ ​ Amount ​ Value ​ Level 1 ​ Level 2 ​ Level 3 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash equivalents $ 115,241 $ 115,241 $ 115,241 $ — $ — Corporate bonds ​ 226,382 ​ 226,382 ​ — ​ 226,382 ​ — U.S. Treasuries ​ 1,013,883 ​ 1,013,883 ​ 1,013,883 ​ — ​ — Equity securities ​ 147,995 ​ 147,995 ​ 147,995 ​ — ​ — Swaps and forward contracts ​ 70 ​ 70 ​ 70 ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contingent consideration ​ 62,297 ​ 62,297 ​ — ​ — ​ 62,297 Swaps and forward contracts ​ 981 ​ 981 ​ 981 ​ — ​ — ​ ​ The liabilities measured at fair value on a recurring basis that have unobservable inputs and are therefore categorized as level 3 are related to contingent consideration. The fair value as of June 30, 2022 is comprised of $78.6 million related to the acquisitions of Frames, Applied Cryo, and Joule, as well as $17.9 million from two acquisitions in 2020. Giner ELX, Inc. was acquired in June 2020, and i was acquired in June 2020, and i the unaudited interim condensed consolidated balance sheets, contingent consideration is recorded in the contingent consideration, loss accrual for service contracts, and other liabilities financial statement line item, and is comprised of the following unobservable inputs: ​ ​ ​ ​ ​ ​ ​ ​ Financial Instrument Fair Value Valuation Technique Unobservable Input Range (weighted average) Contingent Consideration ​ $ 85,466 Scenario based method Credit spread 16.24% ​ ​ ​ ​ ​ Discount rate 17.56% - 19.19% (18.38%) ​ ​ ​ 10,350 Monte carlo simulation Credit spread 16.24% ​ ​ ​ ​ ​ Discount rate 18.84% - 19.09% ​ ​ ​ ​ ​ Revenue volatility 49.11% ​ ​ ​ 692 Monte carlo simulation Credit spread 16.24% ​ ​ ​ ​ ​ Revenue volatility 40.7% - 24.4% (35.0%) ​ ​ ​ ​ ​ Gross profit volatility 113.0% - 23.0% (65.0%) ​ ​ ​ 96,508 ​ ​ ​ ​ The change in the carrying amount of Level 3 liabilities for the three and six month period ended June 30, 2022 was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ Six months ended ​ ​ ​ June 30, 2022 Beginning balance at December 31, 2021 ​ $ 62,297 Payments ​ ​ (2,667) Additions due to acquisitions ​ ​ 41,732 Fair value adjustments ​ ​ 2,461 Foreign currency translation adjustment ​ (604) Ending balance at March 31, 2022 ​ ​ 103,219 Fair value adjustments ​ ​ (5,066) Foreign currency translation adjustment ​ (1,645) Ending balance at June 30, 2022 ​ $ 96,508 ​ ​ ​ ​ ​

Investments

Investments	6 Months Ended
	Jun. 30, 2022
Investments
Investments	16. Investments ​ The amortized cost, gross unrealized gains and losses, fair value of those investments classified as available-for-sale, and allowance for credit losses at June 30, 2022 are summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ Amortized ​ Gross ​ Gross ​ Fair ​ Allowance for ​ Cost ​ Unrealized Gains ​ Unrealized Losses ​ Value ​ Credit Losses Corporate bonds $ 233,386 ​ $ — ​ $ (7,665) ​ $ 225,721 ​ ​ — U.S. Treasuries ​ 503,597 ​ ​ — ​ ​ (13,412) ​ ​ 490,185 ​ ​ — Total $ 736,983 ​ $ — ​ $ (21,077) ​ $ 715,906 ​ $ — ​ The amortized cost, gross unrealized gains and losses, fair value of those investments classified as available-for-sale, and allowance for credit losses at December 31, 2021 are summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ Amortized ​ Gross ​ Gross ​ Fair ​ Allowance for ​ Cost ​ Unrealized Gains ​ Unrealized Losses ​ Value ​ Credit Losses Corporate bonds $ 228,614 ​ $ — ​ $ (2,232) ​ $ 226,382 ​ ​ — U.S. Treasuries ​ 1,014,319 ​ ​ 20 ​ ​ (456) ​ ​ 1,013,883 ​ ​ — Total $ 1,242,933 ​ $ 20 ​ $ (2,688) ​ $ 1,240,265 ​ $ — ​ ​ The cost, gross unrealized gains and losses, and fair value of those investments classified as equity securities at June 30, 2022 are summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ ​ ​ ​ Gross ​ Gross ​ Fair ​ ​ Cost ​ Unrealized Gains ​ Unrealized Losses ​ Value Fixed income mutual funds $ 70,247 $ — ​ $ (2,219) ​ $ 68,028 Exchange traded mutual funds ​ 76,000 ​ ​ — ​ ​ (9,686) ​ ​ 66,314 Total $ 146,247 ​ $ — ​ $ (11,905) ​ $ 134,342 ​ The cost, gross unrealized gains and losses, and fair value of those investments classified as equity securities at December 31, 2021 are summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ Gross ​ Gross ​ Fair ​ ​ Cost ​ Unrealized Gains ​ Unrealized Losses ​ Value Fixed income mutual funds $ 70,247 $ — ​ $ (574) ​ $ 69,673 Exchange traded mutual funds ​ 71,010 ​ ​ 7,312 ​ ​ — ​ ​ 78,322 Total $ 141,257 ​ $ 7,312 ​ $ (574) ​ $ 147,995 ​ A summary of the amortized cost and fair value of investments classified as available-for-sale, by contractual maturity, as of June 30, 2022 and December 31, 2021 was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ December 31, 2021 ​ ​ Amortized ​ Fair ​ ​ Amortized ​ Fair Maturity: ​ Cost ​ Value ​ ​ Cost ​ Value Within one year $ 275,593 $ 272,371 ​ $ 670,584 $ 670,306 After one through five years 461,390 ​ 443,535 ​ 572,349 ​ 569,959 Total $ 736,983 ​ $ 715,906 ​ $ 1,242,933 ​ $ 1,240,265 ​ Accrued interest income was $3.4 million and $3.7 million at June 30, 2022 and December 31, 2021, respectively, and included within the balance for prepaid expenses and other current assets in the unaudited interim condensed consolidated balance sheets.

Operating and Finance Lease Lia

Operating and Finance Lease Liabilities	6 Months Ended
	Jun. 30, 2022
Operating and Finance Lease Liabilities
Operating and Finance Lease Liabilities	17. Operating and Finance Lease Liabilities ​ As of June 30, 2022, the Company had operating leases, as lessee, primarily associated with sale/leaseback transactions that are partially secured by restricted cash, security deposits and pledged escrows (see also Note 1, “Nature of Operations”) as summarized below. These leases expire over the next one ​ Leases contain termination clauses with associated penalties, the amount of which cause the likelihood of cancellation to be remote. At the end of the lease term, the leased assets may be returned to the lessor by the Company, the Company may negotiate with the lessor to purchase the assets at fair market value, or the Company may negotiate with the lessor to renew the lease at market rental rates. No residual value guarantees are contained in the leases. No financial covenants are contained within the lease; however, the lease contains customary operational covenants such as the requirement that the Company properly maintain the leased assets and carry appropriate insurance. The leases include credit support in the form of either cash, collateral or letters of credit. See Note 19, “Commitments and Contingencies” for a description of cash held as security associated with the leases. ​ The Company has finance leases associated with its property and equipment in Latham, New York and at fueling customer locations. The fair value of this finance obligation approximated the carrying value as of June 30, 2022. ​ Future minimum lease payments under operating and finance leases (with initial or remaining lease terms in excess of one year) as of June 30, 2022 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance ​ Total ​ ​ Operating Lease ​ Lease ​ Lease ​ ​ Liability ​ Liability ​ Liabilities Remainder of 2022 ​ $ 30,372 ​ $ 4,360 ​ $ 34,732 2023 ​ ​ 60,587 ​ 8,617 ​ ​ 69,204 2024 ​ ​ 59,442 ​ 8,590 ​ ​ 68,032 2025 ​ ​ 54,991 ​ 11,488 ​ ​ 66,479 2026 ​ ​ 47,150 ​ ​ 8,856 ​ ​ 56,006 2027 and thereafter ​ ​ 49,979 ​ ​ 4,022 ​ ​ 54,001 Total future minimum payments ​ ​ 302,521 ​ 45,933 ​ ​ 348,454 Less imputed interest ​ ​ (71,974) ​ ​ (6,637) ​ ​ (78,611) Total ​ $ 230,547 ​ $ 39,296 ​ $ 269,843 ​ Rental expense for all operating leases was $15.1 million and $8.2 million for the three months ended June 30, 2022 and 2021, respectively. Rental expense for all operating leases was $29.2 million and $16.3 million for the six months ended June 30, 2022 and 2021, respectively. ​ At June 30, 2022 and December 31, 2021, security deposits associated with sale/leaseback transactions were $3.9 million and $3.5 million, respectively, and were included in other assets in the unaudited interim condensed consolidated balance sheets. ​ At June 30, 2022 and December 31, 2021, the right of use assets associated with finance leases was $47.1 million and $33.9 million, respectively. The accumulated depreciation for these right of use assets was $2.9 million and $1.5 million at June 30, 2022 and December 31, 2021, respectively. ​ Other information related to the operating leases are presented in the following table: ​ ​ ​ ​ ​ ​ ​ ​ Six months ended ​ Six months ended ​ June 30, 2022 ​ June 30, 2021 Cash payments (in thousands) $ 27,601 ​ $ 16,081 Weighted average remaining lease term (years) ​ 5.28 ​ ​ 5.82 Weighted average discount rate ​ 10.8% ​ ​ 11.4% ​ Finance lease costs include amortization of the right of use assets (i.e., depreciation expense) and interest on lease liabilities (i.e., interest and other expense, net in the consolidated statement of operations), and were $0.8 million and $0.6 million for the three months ended June 30, 2022 respectively. Finance lease costs include amortization of the right of use assets (i.e., depreciation expense) and interest on lease liabilities (i.e., interest and other expense, net in the consolidated statement of operations), and were $1.5 million and $1.2 million for the six months ended June 30, 2022, respectively. ​ ​ Other information related to the finance leases are presented in the following table: ​ ​ ​ ​ ​ ​ ​ ​ Six months ended ​ Six months ended ​ June 30, 2022 ​ June 30, 2021 Cash payments (in thousands) $ 3,915 ​ $ 1,166 Weighted average remaining lease term (years) ​ 4.28 ​ ​ 4.86 Weighted average discount rate ​ 6.4% ​ ​ 6.9% ​

Finance Obligation

Finance Obligation	6 Months Ended
	Jun. 30, 2022
Finance Obligation
Finance Obligation	18. Finance Obligation ​ The Company has sold future services to be performed associated with certain sale/leaseback transactions and recorded the balance as a finance obligation. The outstanding balance of this obligation at June 30, 2022 was $251.7 million, $43.7 million and $208.0 million of which was classified as short-term and long-term, respectively, on the accompanying unaudited interim condensed consolidated balance sheet. The outstanding balance of this obligation at December 31, 2021 was $236.6 million, $37.5 million and $199.1 million of which was classified as short-term and long-term, respectively. The amount is amortized using the effective interest method. The fair value of this finance obligation approximated the carrying value as of June 30, 2022 and December 31, 2021. ​ In prior periods, the Company entered into sale/leaseback transactions that were accounted for as financing transactions and reported as part of finance obligations. The outstanding balance of finance obligations related to sale/leaseback transactions at June 30, 2022 was $14.7 million, $3.0 million and $11.7 million of which was classified as short-term and long-term, respectively on the accompanying consolidated balance sheet. The outstanding balance of this obligation at December 31, 2021 was $17.0 million, $4.5 million and $12.5 million of which was classified as short-term and long-term, respectively on the accompanying consolidated balance sheets. The fair value of this finance obligation approximated the carrying value as of both June 30, 2022 and December 31, 2021. ​ Future minimum payments under finance obligations notes above as of June 30, 2022 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ Sale of Future ​ Sale/leaseback ​ Finance ​ ​ revenue - debt ​ financings ​ Obligations Remainder of 2022 ​ $ 34,662 ​ $ 1,849 ​ $ 36,511 2023 ​ ​ 69,324 ​ ​ 3,561 ​ ​ 72,885 2024 ​ ​ 69,324 ​ ​ 9,316 ​ ​ 78,640 2025 ​ ​ 64,067 ​ ​ 412 ​ ​ 64,479 2026 ​ ​ 47,344 ​ ​ 412 ​ ​ 47,756 2027 and thereafter ​ ​ 41,481 ​ ​ 611 ​ ​ 42,092 Total future minimum payments ​ ​ 326,202 ​ ​ 16,161 ​ ​ 342,363 Less imputed interest ​ ​ (74,523) ​ ​ (1,434) ​ ​ (75,957) Total ​ $ 251,679 ​ $ 14,727 ​ $ 266,406 ​ Other information related to the above finance obligations are presented in the following table: ​ ​ ​ ​ ​ ​ ​ ​ Six months ended ​ Six months ended ​ June 30, 2022 ​ June 30, 2021 Cash payments (in thousands) $ 33,672 ​ $ 26,508 Weighted average remaining term (years) ​ 4.80 ​ ​ 4.90 Weighted average discount rate ​ 10.7% ​ ​ 11.3% ​

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Commitments and Contingencies
Commitments and Contingencies	19. Commitments and Contingencies ​ Restricted Cash ​ In connection with certain of the above noted sale/leaseback agreements, cash of $270.9 million and $275.1 million was required to be restricted as security as of June 30, 2022 and December 31, 2021, respectively, which restricted cash will be released over the lease term. As of June 30, 2022 and December 31, 2021, the Company also had certain letters of credit backed by security deposits totaling $331.7 million and $286.0 million, respectively, that are security for the above noted sale/leaseback agreements. As of June 30, 2022, the Company also had certain customs related letters of credit totaling $13.7 million. ​ As of June 30, 2022 and December 31, 2021, the Company had $67.7 million, held in escrow related to the construction of certain hydrogen plants. ​ The Company also had $5.0 million and $2.3 million of consideration held by our paying agent in connection with the Applied Cryo and Joule acquisitions, respectively, reported as restricted cash as of June 30, 2022, with a corresponding accrued liability on the Company’s unaudited interim condensed consolidated balance sheet. Additionally, the Company had $14.5 million in restricted cash as collateral resulting from the Frames acquisition as of June 30, 2022. ​ Litigation ​ Legal matters are defended and handled in the ordinary course of business. Liabilities for loss contingencies arising from claims, assessments, litigation, fines, and penalties and other sources are recorded when it is probable that a liability has been incurred and the amount can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred. The Company has not recorded any accruals related to any legal matters. ​ As previously disclosed, on July 22, 2021, the U.S. District Court for the Southern District of New York consolidated multiple shareholder class actions into In re Plug Power, Inc. Securities Litigation pending in the U.S. District Court for the Southern District of New York ​ On June 13, 2022, alleged Company stockholder Donna Max, derivatively on behalf of nominal defendant Plug, filed a complaint in the United States District Court for the District of Delaware against the derivative defendants named in the Liu Derivative Complaint, captioned Max v. Marsh, et. al., case no. 1:22-cv-00781(D. Del.)(the “Max Derivative Complaint”). The Max Derivative Complaint alleges that, for the years 2018, 2019 and 2020, the defendants did not “assure that a reliable system of financial controls was in place and functioning effectively”; “failed to disclose errors in the Company's accounting primarily relating to (i) the reported book value of right of use assets and related finance obligations, (ii) loss accruals for certain service contracts, (iii) the impairment of certain long-lived assets, and (iv) the classification of certain expenses previously included in research and development costs”; and that certain defendants traded Plug Power stock at “artificially inflated stock prices.” The Max Derivative Complaint asserts claims for (1) breach of fiduciary against all defendants; (2) breach of fiduciary duty for insider trading against certain defendants; and (3) contribution under Sections 10(b) and 21D of the Securities Exchange Act of 1934 against certain defendants. The Max Derivative Complaint seeks an award “for the damages sustained by [the Company]” and related relief. By stipulation approved by the Court, the case has been stayed pending the resolution of the motion to dismiss in the Securities Class action. ​ On June 29, 2022, alleged Company stockholder Abbas Khambati, derivatively on behalf of nominal defendant Plug, filed a complaint in the Court of Chancery in the State of Delaware against the derivative defendants named in the Liu Derivative Complaint and Gerard A. Conway, Jr. and Keith Schmid, captioned Khambati v. McNamee, et. al., C.A. no. 2022-05691(Del. Ch.)(the “Khambati Derivative Complaint”). The Khambati Derivative Complaint alleges that the defendants “deceive[d] the investing public, including stockholders of Plug Power, regarding the Individual Defendants’ management of Plug Power’s operations and the Company’s compliance with the SEC's accounting rules”; “facilitate[d” certain defendants’ sales of “their personally held shares while in possession of material, nonpublic information”; and “enhance[d] the Individual Defendants’ executive and directorial positions at Plug Power and the profits, power, and prestige that the Individual Defendants enjoyed as a result of holding these positions.” The Khambati Derivative Complaint asserts claims for (1) breach of fiduciary; and (2) disgorgement and unjust enrichment. The Khambati Derivative Complaint seeks an award “for the damages sustained by [the Company] as a result of the breaches” alleged or “disgorgement or restitution”; “disgorgement of insider trading profits” and “all profits, benefits and other compensation obtained by [defendants’] insider trading and further profits flowing therefrom”; an order “[d]irecting the Company to take all necessary actions to reform and improve its corporate governance and internal procedures”; and related relief. By stipulation approved by the Court, the case has been stayed pending the resolution of the motion to dismiss in the Securities Class action. ​ On July 19, 2022, alleged Company stockholder Anne D. Graziano, as Trustee of the Anne D. Graziano Revocable Living Trust, derivatively on behalf of nominal defendant Plug, filed a complaint in the Court of Chancery in the State of Delaware against the derivative defendants named in the Khambati Derivative Complaint, captioned Graziano v. Marsh, et. al., C.A. no. 2022-0629 (Del. Ch.)(the “Graziano Derivative Complaint”). The Graziano Derivative Complaint alleges that the director defendants (i) “either knowingly or recklessly issued or caused the Company to issue the materially false and misleading statements” concerning “certain critical accounting issues”; (ii) “willfully ignored, or recklessly failed to inform themselves of, the obvious problems with the Company’s internal controls, practices, and procedures, and failed to make a good faith effort to correct the problems or prevent their recurrence”; (iii) the members of the Audit Committee failed “to prevent, correct, or inform the Board of the issuance of material misstatements and omissions regarding critical accounting issues and the adequacy of the Company’s internal controls”; (iv) “received payments, benefits, stock options, and other emoluments by virtue of their membership on the Board and their control of the Company; (v) violated Plug’s Code of Conduct because they knowingly or recklessly engaged in and participated in making and/or causing the Company to make the materially false and misleading statements; and (vi) that certain defendants “sold large amounts of Company stock while it was trading at artificially inflated prices.” The Graziano Derivative Complaint asserts claims for (1) breach of fiduciary; (2) breach of fiduciary duty against certain defendants for insider trading; (3) unjust enrichment; (4) aiding and abetting breach of fiduciary duty; and (5) waste of corporate assets. The Graziano Derivative Complaint seeks an award of “the amount of damages sustained by the Company”; seeks an order “[d]irecting Plug Power to take all necessary actions to reform and improve its corporate governance and internal procedures to comply with applicable laws and to protect Plug Power and its stockholders from a repeat of the damaging events described herein”; and related relief. The parties to the Graziano Derivative Complaint and Khambati Derivative Complaint have agreed to consolidate their actions and have filed a stipulation with the Court to that effect and for a stay of the Graziano Derivative Complaint pending the resolution of the motion to dismiss in the Securities Class action. ​ As previously disclosed, on August 28, 2018, a lawsuit was filed on behalf of multiple individuals against the Company and five corporate co-defendants in the 9th Judicial District Court, Rapides Parish, Louisiana. The lawsuit relates to the previously disclosed May 2018 accident involving a forklift powered by the Company’s fuel cell at a Procter & Gamble facility in Louisiana. The lawsuit alleges claims against the Company and co-defendants, including Structural Composites Industries, Deep South Equipment Co., Air Products and Chemicals, Inc., and Hyster-Yale Group, Inc. for claims under the Louisiana Product Liability Act (“LPLA”) including defect in construction and/or composition, design defect, inadequate warning, breach of express warranty and negligence for wrongful death and personal injuries, among other damages. Procter & Gamble has intervened in that suit to recover worker’s compensation benefits paid to or for the employees/dependents. Procter & Gamble has also filed suit for property damage, business interruption, loss of revenue, expenses, and other damages. Procter & Gamble alleges theories under the LPLA, breach of warranty and quasi-contractual claims under Louisiana law. Defendants include the Company and several of the same co-defendants from the August 2018 lawsuit, including Structural Composites Industries, Deep South Equipment Co., and Hyster-Yale Group, Inc. In April 2022, Plug reached a settlement with respect to the individual plaintiffs on terms well below the Company’s commercial liability insurance limits and continues to vigorously defend the remaining lawsuit against Proctor & Gamble. ​ Concentrations of Credit Risk ​ Financial instruments that potentially subject the Company to credit risk consist principally of cash, cash equivalents, restricted cash, accounts receivable and marketable securities. Cash and restricted cash are maintained in accounts with financial institutions, which, at times may exceed the Federal depository insurance coverage of $0.3 million. The Company has not experienced losses on these accounts and management believes, based upon the quality of the financial institutions, that the credit risk with regard to these deposits is not significant. The Company’s available-for-sale securities consists primarily of investments in U.S. Treasury securities and short-term high credit quality corporate debt securities. Equity securities are comprised of fixed income and equity market index mutual funds. ​ Concentrations of credit risk with respect to receivables exist due to the limited number of select customers with whom the Company has commercial sales arrangements. To mitigate credit risk, the Company performs appropriate evaluation of a prospective customer’s financial condition. ​ At June 30, 2022, two customers comprised 36.4% of the total accounts receivable balance. At December 31, 2021, one customer comprised approximately 46.6% of the total accounts receivable balance. ​ For purposes of assigning a customer to a sale/leaseback transaction completed with a financial institution, the Company considers the end user of the assets to be the ultimate customer. For the three and six months ended June 30, 2022, 38.0% and 35.5% of total consolidated revenues were associated with two customers, respectively. For the three and six months ended June 30, 2021, 81.3% and 77.7% of total consolidated revenues were associated primarily with three customers, respectively. ​

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2022
Employee Benefit Plans
Employee Benefit Plans	20. Employee Benefit Plans ​ 2011 and 2021 Stock Option and Incentive Plan ​ The Company has issued stock-based awards to employees and members of its Board of Directors (the “Board”) consisting of stock options and restricted stock awards. The Company accounts for all stock-based awards to employees and members of the Board as compensation costs in the consolidated financial statements based on their fair values measured as of the date of grant. These costs are recognized over the requisite service period. Stock-based compensation costs recognized, excluding the Company’s matching contributions to the Plug Power Inc. 401(k) Savings & Retirement Plan and quarterly Board compensation, were $42.6 million and $11.1 million for the three months ended June 30, 2022 and June 30, 2021, respectively. Stock-based compensation costs recognized, excluding the Company’s matching contributions to the Plug Power Inc. 401(k) Savings & Retirement Plan and quarterly Board compensation, were $83.5 million and $19.6 million for the six months ended June 30, 2022 and June 30, 2021, respectively. The methods and assumptions used in the determination of the fair value of stock-based awards are consistent with those described in our 2021 Form 10-K. ​ The components and classification of stock-based compensation expense were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Six months ended ​ June 30, 2022 ​ June 30, 2021 ​ June 30, 2022 ​ June 30, 2021 Cost of sales $ 1,268 ​ $ 279 ​ $ 3,144 ​ $ 550 Research and development ​ 857 ​ ​ 1,394 ​ ​ 2,579 ​ ​ 2,752 Selling, general and administrative ​ 40,428 ​ ​ 9,447 ​ ​ 77,776 ​ ​ 16,301 ​ $ 42,553 ​ $ 11,120 ​ $ 83,499 ​ $ 19,603 ​ ​ Option Awards ​ The Company issues options that are time and performance-based awards. All option awards are determined to be classified as equity awards. ​ Service Stock Options Awards ​ The following table reflects the service stock option activity for the six months ended June 30, 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ ​ ​ ​ Average ​ Remaining ​ Aggregate ​ ​ ​ ​ Exercise ​ Contractual ​ Intrinsic ​ ​ Shares ​ Price ​ Terms ​ Value Options outstanding at December 31, 2021 ​ 9,786,909 ​ $ 11.65 ​ 7.70 ​ $ 172,412 Granted ​ 759,851 ​ ​ 24.42 ​ — ​ ​ — Exercised ​ (276,141) ​ ​ 2.76 ​ — ​ ​ — Forfeited ​ (106,000) ​ ​ 24.68 ​ — ​ ​ — Options outstanding at June 30, 2022 ​ 10,164,619 ​ $ 12.67 ​ 7.39 ​ $ 75,300 Options exercisable at June 30, 2022 ​ 4,752,711 ​ ​ 6.22 ​ 6.16 ​ ​ 55,015 Options unvested at June 30, 2022 ​ 5,411,908 ​ $ 18.40 ​ 8.48 ​ $ 20,285 ​ The weighted average grant-date fair value of the service stock options granted during the three months ended June 30, 2022 and 2021 was $16.22 and $29.23, respectively. The weighted average grant-date fair value of the service stock options granted during the six months ended June 30, 2022 and 2021 was $15.68 and $46.67, respectively. The total intrinsic fair value of service stock options exercised during the six months ended June 30, 2022 and 2021 was $4.1 million and $100.0 million, respectively. The total fair value of the service stock options that vested during the three months ended June 30, 2022 and 2021 was approximately $0.5 million and $0.4 million, respectively. The total fair value of the service stock options that vested during the six months ended June 30, 2022 and 2021 was approximately $6.2 million and $0.5 million, respectively. ​ Compensation cost associated with service stock options represented approximately $6.5 million and $4.3 million of the total share-based payment expense recorded for the three months ended June 30, 2022 and 2021, respectively. Compensation cost associated with service stock options represented approximately $12.4 million and $7.6 million of the total share-based payment expense recorded for the six months ended June 30, 2022 and 2021, respectively. As of June 30, 2022, there was approximately $43.6 million of unrecognized compensation cost related to service stock option awards to be recognized over the weighted average remaining period of 1.96 years. ​ Performance Stock Option Awards ​ Compensation cost associated with performance stock options represented approximately $25.3 million and $0 of the total share-based payment expense recorded for the three months ended June 30, 2022 and 2021, respectively. Compensation cost associated with performance stock options represented approximately $50.4 million and $0 of the total share-based payment expense recorded for the six months ended June 30, 2022 and 2021, respectively. As of June 30, 2022, there was approximately $99.8 million of unrecognized compensation cost related to performance stock option awards to be recognized over the weighted average remaining period of 2.23 years. There were no new grants of performance stock option awards for the six months ended June 30, 2022. ​ Restricted Stock Awards ​ The Company recorded expense associated with its restricted stock awards of approximately $10.9 million and $6.8 million for the three months ended June 30, 2022 and 2021, respectively. The Company recorded expense associated with its restricted stock awards of approximately $20.7 million and $12.0 million for the six months ended June 30, 2022 and 2021, respectively. Additionally, as of June 30, 2022, there was $77.7 million of unrecognized compensation cost related to restricted stock awards to be recognized over the weighted average period of 1.47 years. ​ A summary of restricted stock activity for the six months ended June 30, 2022 is as follows (in thousands except share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Aggregate ​ ​ ​ ​ Average Grant Date ​ Intrinsic ​ ​ ​ Shares ​ Fair Value ​ Value ​ Unvested restricted stock at December 31, 2021 ​ 4,851,873 ​ $ 21.59 ​ $ — ​ Granted ​ 1,126,491 ​ ​ 24.30 ​ ​ — ​ Vested ​ (265,500) ​ ​ 33.37 ​ ​ — ​ Forfeited ​ (96,584) ​ ​ 25.83 ​ ​ — ​ Unvested restricted stock at June 30, 2022 ​ 5,616,280 ​ $ 18.84 ​ $ 92,049 ​ ​ The weighted average grant-date fair value of the restricted stock awards granted during the three months ended June 30, 2022 and 2021, was $25.49 and $26.08, respectively. The weighted average grant-date fair value of the restricted stock awards granted during the six months ended June 30, 2022 and 2021, was $24.30 and $43.05, respectively. The total fair value of restricted stock awards vested for the three months ended June 30, 2022, and 2021 was $0.6 million and $3.9 million, respectively. The total fair value of restricted stock awards vested for the six months ended June 30, 2022, and 2021 was $8.9 million and $4.4 million, respectively. 401(k) Savings & Retirement Plan ​ The Company issued 201,180 shares of common stock and 12,513 shares of common stock pursuant to the Plug Power Inc. 401(k) Savings & Retirement Plan during the six months ended June 30, 2022 and 2021, respectively. ​ The Company’s expense for this plan was approximately $2.0 million, and $0.9 million for the three months ended June 30, 2022 and 2021, respectively. The Company’s expense for this plan was approximately $4.3 million and $2.2 million for the six months ended June 30, 2022 and 2021, respectively. ​ Non-Employee Director Compensation ​ The Company granted 6,650 shares of common stock and 2,585 shares of common stock to non-employee directors as compensation for the three months ended June 30, 2022 and 2021, respectively. The Company granted 9,940 shares of common stock and 5,238 shares of common stock to non-employee directors as compensation for the six months ended June 30, 2022 and 2021, respectively. All common stock issued is fully vested at the time of issuance and is valued at fair value on the date of issuance. The Company’s share-based compensation expense in connection with non-employee director compensation was approximately $0.1 million and $0.1 million for the three months ended June 30, 2022 and 2021, respectively. The Company’s share-based compensation expense in connection with non-employee director compensation was approximately $0.2 million and $0.2 million for the six months ended June 30, 2022 and 2021, respectively.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2022
Segment Reporting
Segment Reporting	21. Segment Reporting ​ Our organization is managed from a sales perspective on the basis of “go-to-market” sales channels, emphasizing shared learning across end user applications and common supplier/vendor relationships. These sales channels are structured to serve a range of customers for our products and services. As a result of this structure, we concluded that we have one operating and reportable ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenues ​ Long-Lived Assets as of ​ Three Months Ended ​ Six Months Ended ​ ​ ​ June 30, 2022 ​ June 30, 2021 ​ June 30, 2022 ​ June 30, 2021 ​ June 30, 2022 ​ December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ North America $ 115,213 ​ $ 118,342 ​ $ 228,194 ​ $ 187,988 ​ $ 795,042 ​ $ 570,778 Other ​ 36,054 ​ ​ 6,215 ​ ​ 63,876 ​ ​ 8,527 ​ ​ 5,231 ​ ​ 2,778 Total $ 151,267 ​ $ 124,557 ​ $ 292,070 ​ $ 196,515 ​ $ 800,273 ​ $ 573,556 ​

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events
Subsequent Events	22. Subsequent Events ​ We have evaluated events as of August 9, 2022 and have not identified any subsequent events. ​

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Summary of Significant Accounting Policies
Principles of Consolidation	Principles of Consolidation ​ The unaudited interim condensed consolidated financial statements include the financial statements of the Company and its wholly-owned subsidiaries. Intercompany balances and transactions have been eliminated in consolidation. In addition, we include our share of the results of our joint venture with Renault SAS (“Renault”) named HyVia, a French société par actions simplifiée (“HyVia”), AccionaPlug S.L., and SK Plug Hyverse Co., Ltd., using the equity method based on our economic ownership interest and our ability to exercise significant influence over the operating and financial decisions of HyVia, AccionaPlug S.L., and SK Plug Hyverse Co., Ltd.
Interim Financial Statements	Interim Financial Statements ​ The accompanying unaudited interim condensed consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, all adjustments, which consist solely of normal recurring adjustments, necessary to present fairly, in accordance with U.S. generally accepted accounting principles (“GAAP”), the financial position, results of operations and cash flows for all periods presented, have been made. The results of operations for the interim periods presented are not necessarily indicative of the results that may be expected for the full year. ​ Certain information and footnote disclosures normally included in annual consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. These unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021 (the “2021 Form 10-K”). ​ The information presented in the accompanying unaudited interim condensed consolidated balance sheets as of December 31, 2021 has been derived from the Company’s December 31, 2021 audited consolidated financial statements. ​ The unaudited interim condensed consolidated financial statements contained herein should be read in conjunction with our 2021 Form 10-K .
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Guidance ​ Other than the adoption of the accounting guidance mentioned i n our 2021 Form 10-K, ​ Recent Accounting Guidance Not Yet Effective ​ All issued but not yet effective accounting and reporting standards as of June 30, 2022 are either not applicable to the Company or are not expected to have a material impact on the Company.

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2022
Joule Processing LLC
Schedule of fair value of consideration paid	The fair value of consideration paid by the Company in connection with the Joule acquisition was as follows (in thousands): ​ ​ ​ ​ Cash $ 28,140 Contingent consideration ​ 41,732 Total consideration $ 69,872 ​ ​
Summary of allocation of the purchase price to the estimated fair value of the net assets acquired	The following table summarizes the preliminary allocation of the purchase price to the estimated fair value of the net assets acquired, excluding goodwill (in thousands): ​ ​ ​ ​ Current assets $ 2,672 Property, plant and equipment ​ 493 Right of use asset ​ 182 Identifiable intangible assets ​ 60,522 Lease liability ​ (374) Current liabilities ​ (2,612) Contract liability ​ (3,818) Total net assets acquired, excluding goodwill $ 57,065
Business combination segment allocation	The goodwill was primarily attributed to the value of synergies created with the Company’s current and future offerings and the value of the assembled workforce. Goodwill and intangible assets are not deductible for income tax purposes. Goodwill associated with the Joule acquisition was calculated as follows (in thousands): ​ ​ ​ ​ Consideration paid $ 28,140 Contingent consideration ​ 41,732 Less: net assets acquired ​ (57,065) Total goodwill recognized $ 12,807
Applied Cryo Technologies
Schedule of fair value of consideration paid	The fair value of consideration paid by the Company in connection with the Applied Cryo acquisition was as follows (in thousands): ​ ​ ​ ​ Cash $ 98,559 Plug Power Inc. Common Stock ​ 46,697 Contingent consideration ​ 14,000 Settlement of preexisting relationship ​ 2,837 Total consideration $ 162,093 ​
Summary of allocation of the purchase price to the estimated fair value of the net assets acquired	The following table summarizes the preliminary allocation of the purchase price to the estimated fair value of the net assets acquired, excluding goodwill (in thousands): ​ ​ ​ ​ Cash $ 1,180 Accounts receivable ​ 4,123 Inventory 24,655 Prepaid expenses and other assets ​ 1,506 Property, plant and equipment ​ 4,515 Right of use asset ​ 2,788 Identifiable intangible assets ​ 70,484 Lease liability ​ (2,672) Accounts payable, accrued expenses and other liabilities ​ (7,683) Deferred tax liability ​ (16,541) Deferred revenue ​ (12,990) Total net assets acquired, excluding goodwill $ 69,365 ​
Business combination segment allocation	The goodwill was primarily attributed to the value of synergies created with the Company’s current and future offerings and the value of the assembled workforce. Goodwill and intangible assets are not deductible for income tax purposes. Goodwill associated with the Applied Cryo acquisition was calculated as follows (in thousands): ​ ​ ​ ​ Consideration paid $ 162,093 Less: net assets acquired ​ (69,365) Total goodwill recognized $ 92,728
Frames Holding B.V.
Schedule of fair value of consideration paid	The fair value of consideration paid by the Company in connection with the Frames acquisition was as follows (in thousands): ​ ​ ​ ​ Cash $ 94,541 Contingent consideration ​ 29,057 Settlement of preexisting relationship ​ 4,263 Total consideration $ 127,861 ​
Summary of allocation of the purchase price to the estimated fair value of the net assets acquired	The following table summarizes the preliminary allocation of the purchase price to the estimated fair value of the total net assets acquired, excluding goodwill (in thousands): ​ ​ ​ ​ Cash $ 45,394 Accounts receivable ​ 17,910 Inventory 34 Prepaid expenses and other assets ​ 3,652 Property, plant and equipment ​ 709 Right of use asset ​ 1,937 Contract asset ​ 9,960 Identifiable intangible assets ​ 50,478 Lease liability ​ (1,937) Contract liability ​ (22,737) Accounts payable, accrued expenses and other liabilities ​ (18,465) Deferred tax liability ​ (11,259) Provision for loss contracts ​ (2,636) Warranty provisions ​ (7,566) Total net assets acquired, excluding goodwill $ 65,474 ​
Business combination segment allocation	The goodwill was primarily attributed to the value of synergies created with the Company’s current and future offerings and the value of the assembled workforce. Goodwill and intangible assets are not deductible for income tax purposes. Goodwill associated with the Frames acquisition was calculated as follows (in thousands): ​ ​ ​ ​ Consideration paid $ 127,861 Less: net assets acquired ​ (65,474) Total goodwill recognized $ 62,387 ​
Schedule of unaudited pro forma financial information	The following table reflects the unaudited pro forma results of operations for the six months ended June 30, 2021 assuming that the Frames acquisition had occurred on January 1, 2021 (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended ​ Six Months Ended ​ June 30, 2021 ​ June 30, 2021 Revenue $ 14,397 ​ $ 31,804 Net income $ 879 ​ $ 1,034

Extended Maintenance Contracts

Extended Maintenance Contracts (Tables)	6 Months Ended
	Jun. 30, 2022
Extended Maintenance Contracts
Schedule of accrual for loss contracts	The following table shows the rollforward of balance in the accrual for loss contracts, including changes due to the provision for loss accrual, loss accrual from acquisition, releases to service cost of sales, and releases due to the provision for warrants (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ Six months ended ​ Year ended ​ June 30, 2022 ​ December 31, 2021 Beginning balance $ 89,773 ​ $ 24,013 Provision for loss accrual ​ 3,116 ​ ​ 71,988 Loss accrual from acquisition ​ — ​ ​ 2,636 Releases to service cost of sales ​ (21,247) ​ ​ (8,864) Foreign currency translation adjustment ​ (103) ​ ​ — Ending balance $ 71,539 ​ $ 89,773

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share
Schedule of potential dilutive common shares	​ ​ ​ ​ ​ ​ ​ ​ At June 30, ​ 2022 2021 Stock options outstanding (1) ​ 24,184,619 9,165,066 Restricted stock outstanding (2) ​ 5,616,280 6,511,808 Common stock warrants (3) ​ 80,017,181 ​ 83,518,821 Convertible Senior Notes (4) ​ 39,170,766 39,170,766 Number of dilutive potential shares of common stock ​ 148,988,846 138,366,461 ​ (1) During the three months ended June 30, 2022 and 2021, the Company granted options for 308,351 and 117,500 shares of common stock, respectively. During the six months ended June 30, 2022 and 2021, the Company granted options for 759,851 and 698,500 shares of common stock, respectively. ​ (2) During the three months ended June 30, 2022 and 2021, the Company granted 323,991 and 98,000 restricted shares of common stock, respectively. During the six months ended June 30, 2022 and 2021, the Company granted 1,126,491 and 653,000 restricted shares of common stock, respectively. ​ (3) In April 2017, the Company issued a warrant to acquire up to 55,286,696 shares of the Company’s common stock as part of a transaction agreement with Amazon, subject to certain vesting events, as described in Note 12, “Warrant Transaction Agreements.” The warrant had been exercised with respect to 17,461,994 and 13,960,354 shares of the Company’s common stock as of June 30, 2022 and 2021, respectively. ​ In July 2017, the Company issued a warrant to acquire up to 55,286,696 shares of the Company’s common stock as part of a transaction agreement with Walmart, subject to certain vesting events, as described in Note 12, “Warrant Transaction Agreements.” The warrant had been exercised with respect to 13,094,217 shares of the Company’s common stock as of June 30, 2022 and 2021. ​ (4) In March 2018, the Company issued $100.0 million in aggregate principal amount of the 5.5% Convertible Senior Notes due 2023 (the “ 5.5% Convertible Senior Notes”). In May 2020, the Company repurchased $66.3 million of the 5.5% Convertible Senior Notes and in the fourth quarter of 2020, $33.5 million of the 5.5% Convertible Senior Notes were converted into approximately 14.6 million shares of common stock. The remaining $0.2 million aggregate principal amount of the 5.5% Convertible Senior Notes were converted into 69,808 shares of common stock in January 2021. In September 2019, the Company issued $40.0 million in aggregate principal amount of the 7.5% Convertible Senior Note due 2023 (the “ 7.5% Convertible Senior Note”), which was fully converted into 16.0 million shares of common stock on July 1, 2020. In May 2020, the Company issued $212.5 million in aggregate principal amount of the 3.75% Convertible Senior Notes. There were no conversions for the three and six months ended June 30, 2022. There were no conversations for the three months ended June 30, 2021. For the six months ended June 30, 2021, $15.2 million of the 3.75% Convertible Senior Notes were converted, resulting in the issuance of 3,016,036 shares of common stock.

Inventory (Tables)

Inventory (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory
Schedule of Inventory	Inventory as of June 30, 2022 and December 31, 2021 consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2022 ​ 2021 ​ Raw materials and supplies - production locations ​ $ 321,261 ​ $ 187,449 ​ Raw materials and supplies - customer locations ​ ​ 13,629 ​ ​ 16,294 ​ Work-in-process ​ 86,235 ​ 58,341 ​ Finished goods ​ 8,424 ​ 7,079 ​ Inventory ​ $ 429,549 ​ $ 269,163 ​

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2022
Property, Plant and Equipment
Schedule of Property plant and equipment	Property, plant and equipment at June 30, 2022 and December 31, 2021 consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ December 31, 2021 Land ​ $ 1,165 ​ $ 1,165 Construction in progress ​ ​ 332,982 ​ ​ 169,415 Leasehold improvements ​ ​ 2,895 ​ ​ 2,099 Software, machinery, and equipment ​ 131,699 ​ 112,068 Property, plant, and equipment ​ 468,741 ​ 284,747 Less: accumulated depreciation ​ (37,249) ​ (29,124) Property, plant, and equipment, net ​ $ 431,492 ​ $ 255,623

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	6 Months Ended
	Jun. 30, 2022
Intangible Assets and Goodwill
Schedule of Intangible assets	The gross carrying amount and accumulated amortization of the Company’s acquired identifiable intangible assets as of June 30, 2022 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ Gross Carrying ​ Accumulated ​ ​ ​ ​ ​ ​ Amortization Period ​ Amount ​ Amortization ​ Total Acquired technology 14 years $ 104,062 ​ $ (8,877) ​ $ 95,185 ​ Dry stack electrolyzer technology ​ 10 years ​ ​ 29,000 ​ ​ (967) ​ ​ 28,033 ​ Customer relationships, Non-compete agreements, Backlog & Trademark ​ 12 years ​ 88,345 ​ ​ (7,350) ​ ​ 80,995 ​ ​ ​ ​ ​ $ 221,407 ​ $ (17,194) ​ $ 204,213 ​ ​ The gross carrying amount and accumulated amortization of the Company’s acquired identifiable intangible assets as of December 31, 2021 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ Gross Carrying ​ Accumulated ​ ​ ​ ​ ​ ​ Amortization Period ​ Amount ​ Amortization ​ Total Acquired technology 13 years ​ $ 45,530 ​ $ (5,392) ​ $ 40,138 ​ Customer relationships, Non-compete agreements, Backlog & Trademark ​ 12 years ​ ​ 90,497 ​ ​ (1,427) ​ ​ 89,070 ​ In process research and development Indefinite ​ 29,000 ​ ​ — ​ 29,000 ​ ​ ​ ​ ​ $ 165,027 ​ $ (6,819) ​ $ 158,208 ​
Schedule of future amortization of intangible assets	The estimated amortization expense for subsequent years is as follows (in thousands): ​ ​ ​ ​ ​ Remainder of 2022 $ 10,730 2023 ​ ​ 17,990 2024 ​ ​ 17,933 2025 ​ ​ 17,175 2026 ​ ​ 15,691 2027 and thereafter ​ ​ 124,694 Total ​ $ 204,213
Schedule of changes in the carrying amount of goodwill	The change in the carrying amount of goodwill for the six month period ended June 30, 2022 was as follows (in thousands): ​ ​ ​ ​ ​ Beginning balance at December 31, 2021 ​ $ 220,436 Acquisitions ​ ​ 12,943 Measurement period adjustments ​ ​ 6,496 Foreign currency translation adjustment ​ (4,849) Ending balance at June 30, 2022 ​ $ 235,026

Convertible Senior Notes (Table

Convertible Senior Notes (Tables) - 3.75% Convertible Senior Notes	6 Months Ended
	Jun. 30, 2022
Debt Instrument [Line Items]
Schedule of Convertible Senior Notes	The 3.75% Convertible Senior Notes consisted of the following (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ ​ 2022 Principal amounts: ​ ​ ​ ​ Principal ​ ​ $ 197,278 Unamortized debt issuance costs (1) ​ ​ ​ (4,009) Net carrying amount ​ ​ $ 193,269 1) Included in the unaudited interim condensed consolidated balance sheets within the 3.75% Convertible Senior Notes, net and amortized over the remaining life of the notes using the effective interest rate method. ​
Schedule of debt	The following table summarizes the total interest expense and effective interest rate related to the 3.75% Convertible Senior Notes (in thousands, except for effective interest rate): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ June 30, ​ ​ 2022 ​ 2021 ​ Interest expense ​ $ 1,849 ​ $ 1,850 ​ Amortization of debt issuance costs ​ ​ 320 ​ ​ 306 ​ Total ​ ​ 2,169 ​ ​ 2,156 ​ ​ ​ ​ ​ ​ ​ ​ ​ Effective interest rate ​ ​ 4.5% ​ ​ 4.5% ​ ​

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue
Schedule of disaggregation of revenue	The following table provides information about disaggregation of revenue (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Major products/services lines ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, ​ Six months ended June 30, ​ ​ 2022 ​ 2021 ​ 2022 ​ 2021 Sales of fuel cell systems ​ $ 33,411 ​ $ 55,482 ​ $ 70,940 ​ $ 81,161 Sales of hydrogen infrastructure ​ ​ 32,414 ​ ​ 40,109 ​ ​ 59,502 ​ ​ 60,462 Sales of electolyzers ​ ​ 3,675 ​ ​ 3,687 ​ ​ 7,734 ​ ​ 4,427 Sales of engineered equipment ​ ​ 28,556 ​ ​ — ​ ​ 50,524 ​ ​ — Services performed on fuel cell systems and related infrastructure ​ ​ 8,822 ​ ​ 5,675 ​ ​ 17,062 ​ ​ 11,720 Power Purchase Agreements ​ ​ 11,169 ​ ​ 8,361 ​ ​ 21,206 ​ ​ 16,187 Fuel delivered to customers and related equipment ​ ​ 14,472 ​ ​ 11,121 ​ ​ 27,900 ​ ​ 22,248 Sales of cryogenic equipment ​ ​ 18,177 ​ ​ — ​ ​ 36,380 ​ ​ — Other ​ ​ 571 ​ ​ 122 ​ ​ 822 ​ ​ 310 Net revenue ​ $ 151,267 ​ $ 124,557 ​ $ 292,070 ​ $ 196,515 ​
Schedule of receivables, contract assets and contract liabilities from contracts with customers	The following table provides information about receivables, contract assets and contract liabilities from contracts with customers (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ ​ 2022 ​ 2021 Accounts receivable ​ $ 61,502 ​ $ 92,675 Contract assets ​ ​ 39,143 ​ ​ 38,757 Contract liabilities ​ ​ 127,705 ​ ​ 183,090
Schedule of changes in contract assets and the contract liabilities	Significant changes in the contract assets and the contract liabilities balances during the period are as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contract assets ​ Six months ended ​ ​ June 30, 2022 ​ December 31, 2021 Transferred to receivables from contract assets recognized at the beginning of the period ​ $ (12,096) ​ $ (14,638) Contract assets assumed as part of acquisition ​ ​ — ​ ​ 9,960 Revenue recognized and not billed as of the end of the period ​ ​ 12,482 ​ ​ 25,246 Net change in contract assets ​ $ 386 ​ $ 20,568 ​ ​ ​ ​ ​ ​ ​ ​ ​ Contract liabilities ​ Six months ended ​ ​ June 30, 2022 ​ December 31, 2021 Increases due to cash received, net of amounts recognized as revenue during the period ​ $ 41,170 ​ $ 182,052 Contract liabilities assumed as part of acquisitions ​ ​ 3,818 ​ ​ 35,727 Revenue recognized that was included in the contract liability balance as of the beginning of the period ​ ​ (100,373) ​ ​ (110,974) Net change in contract liabilities ​ $ (55,385) ​ $ 106,805 ​
Schedule of Estimated future revenue	The following table includes estimated revenue included in the backlog expected to be recognized in the future (sales of fuel cell systems and hydrogen Power Purchase five ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ ​ 2022 Sales of fuel cell systems ​ $ 14,758 Sales of hydrogen installations and other infrastructure ​ ​ 17,781 Sales of electrolyzers ​ ​ 77,061 Sales of engineered equipment ​ ​ 48,607 Services performed on fuel cell systems and related infrastructure ​ ​ 93,371 Power Purchase Agreements ​ ​ 252,003 Fuel delivered to customers and related equipment ​ ​ 81,785 Sales of cryogenic equipment ​ ​ 59,599 Total estimated future revenue ​ $ 644,965

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Measurements
Schedule of assets and liabilities measured at fair value on a recurring basis	Assets and liabilities measured at fair value on a recurring basis are summarized below (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of June 30, 2022 ​ ​ Carrying ​ Fair ​ Fair Value Measurements ​ ​ Amount ​ Value ​ Level 1 ​ Level 2 ​ Level 3 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash equivalents $ 117,860 $ 117,860 $ 117,860 $ — $ — Corporate bonds ​ 225,721 ​ 225,721 ​ — ​ 225,721 ​ — U.S. Treasuries ​ 490,185 ​ 490,185 ​ 490,185 ​ — ​ — Equity securities ​ 134,342 ​ 134,342 ​ 134,342 ​ — ​ — Swaps and forward contracts ​ 489 ​ 489 ​ 489 ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contingent consideration ​ 96,508 ​ 96,508 ​ — ​ — ​ 96,508 Swaps and forward contracts ​ 1,291 ​ 1,291 ​ 1,291 ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of December 31, 2021 ​ ​ Carrying ​ Fair ​ Fair Value Measurements ​ ​ Amount ​ Value ​ Level 1 ​ Level 2 ​ Level 3 Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Cash equivalents $ 115,241 $ 115,241 $ 115,241 $ — $ — Corporate bonds ​ 226,382 ​ 226,382 ​ — ​ 226,382 ​ — U.S. Treasuries ​ 1,013,883 ​ 1,013,883 ​ 1,013,883 ​ — ​ — Equity securities ​ 147,995 ​ 147,995 ​ 147,995 ​ — ​ — Swaps and forward contracts ​ 70 ​ 70 ​ 70 ​ — ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Liabilities ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Contingent consideration ​ 62,297 ​ 62,297 ​ — ​ — ​ 62,297 Swaps and forward contracts ​ 981 ​ 981 ​ 981 ​ — ​ —
Schedule of assets and liabilities measured at fair value on a recurring basis that have unobservable inputs	​ ​ ​ ​ ​ ​ ​ ​ Financial Instrument Fair Value Valuation Technique Unobservable Input Range (weighted average) Contingent Consideration ​ $ 85,466 Scenario based method Credit spread 16.24% ​ ​ ​ ​ ​ Discount rate 17.56% - 19.19% (18.38%) ​ ​ ​ 10,350 Monte carlo simulation Credit spread 16.24% ​ ​ ​ ​ ​ Discount rate 18.84% - 19.09% ​ ​ ​ ​ ​ Revenue volatility 49.11% ​ ​ ​ 692 Monte carlo simulation Credit spread 16.24% ​ ​ ​ ​ ​ Revenue volatility 40.7% - 24.4% (35.0%) ​ ​ ​ ​ ​ Gross profit volatility 113.0% - 23.0% (65.0%) ​ ​ ​ 96,508 ​ ​ ​
Schedule of activity in the level 3 liabilities	The change in the carrying amount of Level 3 liabilities for the three and six month period ended June 30, 2022 was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ Six months ended ​ ​ ​ June 30, 2022 Beginning balance at December 31, 2021 ​ $ 62,297 Payments ​ ​ (2,667) Additions due to acquisitions ​ ​ 41,732 Fair value adjustments ​ ​ 2,461 Foreign currency translation adjustment ​ (604) Ending balance at March 31, 2022 ​ ​ 103,219 Fair value adjustments ​ ​ (5,066) Foreign currency translation adjustment ​ (1,645) Ending balance at June 30, 2022 ​ $ 96,508 ​ ​ ​ ​

Investments (Tables)

Investments (Tables)	6 Months Ended
	Jun. 30, 2022
Investments
Schedule of gross unrealized gains and losses, and the amortized cost, allowance for credit losses, and fair value of those investments classified as available-for-sale	The amortized cost, gross unrealized gains and losses, fair value of those investments classified as available-for-sale, and allowance for credit losses at June 30, 2022 are summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ Amortized ​ Gross ​ Gross ​ Fair ​ Allowance for ​ Cost ​ Unrealized Gains ​ Unrealized Losses ​ Value ​ Credit Losses Corporate bonds $ 233,386 ​ $ — ​ $ (7,665) ​ $ 225,721 ​ ​ — U.S. Treasuries ​ 503,597 ​ ​ — ​ ​ (13,412) ​ ​ 490,185 ​ ​ — Total $ 736,983 ​ $ — ​ $ (21,077) ​ $ 715,906 ​ $ — ​ The amortized cost, gross unrealized gains and losses, fair value of those investments classified as available-for-sale, and allowance for credit losses at December 31, 2021 are summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ Amortized ​ Gross ​ Gross ​ Fair ​ Allowance for ​ Cost ​ Unrealized Gains ​ Unrealized Losses ​ Value ​ Credit Losses Corporate bonds $ 228,614 ​ $ — ​ $ (2,232) ​ $ 226,382 ​ ​ — U.S. Treasuries ​ 1,014,319 ​ ​ 20 ​ ​ (456) ​ ​ 1,013,883 ​ ​ — Total $ 1,242,933 ​ $ 20 ​ $ (2,688) ​ $ 1,240,265 ​ $ —
Schedule of investments classified as equity securities	The cost, gross unrealized gains and losses, and fair value of those investments classified as equity securities at June 30, 2022 are summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ ​ ​ ​ Gross ​ Gross ​ Fair ​ ​ Cost ​ Unrealized Gains ​ Unrealized Losses ​ Value Fixed income mutual funds $ 70,247 $ — ​ $ (2,219) ​ $ 68,028 Exchange traded mutual funds ​ 76,000 ​ ​ — ​ ​ (9,686) ​ ​ 66,314 Total $ 146,247 ​ $ — ​ $ (11,905) ​ $ 134,342 ​ The cost, gross unrealized gains and losses, and fair value of those investments classified as equity securities at December 31, 2021 are summarized as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2021 ​ ​ ​ ​ Gross ​ Gross ​ Fair ​ ​ Cost ​ Unrealized Gains ​ Unrealized Losses ​ Value Fixed income mutual funds $ 70,247 $ — ​ $ (574) ​ $ 69,673 Exchange traded mutual funds ​ 71,010 ​ ​ 7,312 ​ ​ — ​ ​ 78,322 Total $ 141,257 ​ $ 7,312 ​ $ (574) ​ $ 147,995
Schedule of the amortized cost and fair value of investments classified as available-for-sale, by contractual maturity	A summary of the amortized cost and fair value of investments classified as available-for-sale, by contractual maturity, as of June 30, 2022 and December 31, 2021 was as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2022 ​ December 31, 2021 ​ ​ Amortized ​ Fair ​ ​ Amortized ​ Fair Maturity: ​ Cost ​ Value ​ ​ Cost ​ Value Within one year $ 275,593 $ 272,371 ​ $ 670,584 $ 670,306 After one through five years 461,390 ​ 443,535 ​ 572,349 ​ 569,959 Total $ 736,983 ​ $ 715,906 ​ $ 1,242,933 ​ $ 1,240,265

Operating and Finance Lease L_2

Operating and Finance Lease Liabilities (Tables)	6 Months Ended
	Jun. 30, 2022
Operating and Finance Lease Liabilities
Schedule of future minimum lease payments under operating leases	Future minimum lease payments under operating and finance leases (with initial or remaining lease terms in excess of one year) as of June 30, 2022 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Finance ​ Total ​ ​ Operating Lease ​ Lease ​ Lease ​ ​ Liability ​ Liability ​ Liabilities Remainder of 2022 ​ $ 30,372 ​ $ 4,360 ​ $ 34,732 2023 ​ ​ 60,587 ​ 8,617 ​ ​ 69,204 2024 ​ ​ 59,442 ​ 8,590 ​ ​ 68,032 2025 ​ ​ 54,991 ​ 11,488 ​ ​ 66,479 2026 ​ ​ 47,150 ​ ​ 8,856 ​ ​ 56,006 2027 and thereafter ​ ​ 49,979 ​ ​ 4,022 ​ ​ 54,001 Total future minimum payments ​ ​ 302,521 ​ 45,933 ​ ​ 348,454 Less imputed interest ​ ​ (71,974) ​ ​ (6,637) ​ ​ (78,611) Total ​ $ 230,547 ​ $ 39,296 ​ $ 269,843
Schedule of operating leases other information	​ ​ ​ ​ ​ ​ ​ ​ Six months ended ​ Six months ended ​ June 30, 2022 ​ June 30, 2021 Cash payments (in thousands) $ 27,601 ​ $ 16,081 Weighted average remaining lease term (years) ​ 5.28 ​ ​ 5.82 Weighted average discount rate ​ 10.8% ​ ​ 11.4%
Schedule of finance leases other information	​ ​ ​ ​ ​ ​ ​ ​ Six months ended ​ Six months ended ​ June 30, 2022 ​ June 30, 2021 Cash payments (in thousands) $ 3,915 ​ $ 1,166 Weighted average remaining lease term (years) ​ 4.28 ​ ​ 4.86 Weighted average discount rate ​ 6.4% ​ ​ 6.9%

Finance Obligation (Tables)

Finance Obligation (Tables)	6 Months Ended
	Jun. 30, 2022
Finance Obligation
Schedule of future minimum payments under finance obligations	Future minimum payments under finance obligations notes above as of June 30, 2022 were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total ​ ​ Sale of Future ​ Sale/leaseback ​ Finance ​ ​ revenue - debt ​ financings ​ Obligations Remainder of 2022 ​ $ 34,662 ​ $ 1,849 ​ $ 36,511 2023 ​ ​ 69,324 ​ ​ 3,561 ​ ​ 72,885 2024 ​ ​ 69,324 ​ ​ 9,316 ​ ​ 78,640 2025 ​ ​ 64,067 ​ ​ 412 ​ ​ 64,479 2026 ​ ​ 47,344 ​ ​ 412 ​ ​ 47,756 2027 and thereafter ​ ​ 41,481 ​ ​ 611 ​ ​ 42,092 Total future minimum payments ​ ​ 326,202 ​ ​ 16,161 ​ ​ 342,363 Less imputed interest ​ ​ (74,523) ​ ​ (1,434) ​ ​ (75,957) Total ​ $ 251,679 ​ $ 14,727 ​ $ 266,406
Schedule of finance obligation other information	​ ​ ​ ​ ​ ​ ​ ​ Six months ended ​ Six months ended ​ June 30, 2022 ​ June 30, 2021 Cash payments (in thousands) $ 33,672 ​ $ 26,508 Weighted average remaining term (years) ​ 4.80 ​ ​ 4.90 Weighted average discount rate ​ 10.7% ​ ​ 11.3%

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2022
Schedule of components and classification of stock-based compensation expense	The components and classification of stock-based compensation expense were as follows (in thousands): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended ​ Six months ended ​ June 30, 2022 ​ June 30, 2021 ​ June 30, 2022 ​ June 30, 2021 Cost of sales $ 1,268 ​ $ 279 ​ $ 3,144 ​ $ 550 Research and development ​ 857 ​ ​ 1,394 ​ ​ 2,579 ​ ​ 2,752 Selling, general and administrative ​ 40,428 ​ ​ 9,447 ​ ​ 77,776 ​ ​ 16,301 ​ $ 42,553 ​ $ 11,120 ​ $ 83,499 ​ $ 19,603
Nonvested Restricted Stock Shares Activity	A summary of restricted stock activity for the six months ended June 30, 2022 is as follows (in thousands except share amounts): ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Aggregate ​ ​ ​ ​ Average Grant Date ​ Intrinsic ​ ​ ​ Shares ​ Fair Value ​ Value ​ Unvested restricted stock at December 31, 2021 ​ 4,851,873 ​ $ 21.59 ​ $ — ​ Granted ​ 1,126,491 ​ ​ 24.30 ​ ​ — ​ Vested ​ (265,500) ​ ​ 33.37 ​ ​ — ​ Forfeited ​ (96,584) ​ ​ 25.83 ​ ​ — ​ Unvested restricted stock at June 30, 2022 ​ 5,616,280 ​ $ 18.84 ​ $ 92,049 ​
Service Options Awards
Schedule of Share-based Compensation, Stock Options, Activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ ​ ​ Weighted ​ Average ​ ​ ​ ​ ​ ​ ​ Average ​ Remaining ​ Aggregate ​ ​ ​ ​ Exercise ​ Contractual ​ Intrinsic ​ ​ Shares ​ Price ​ Terms ​ Value Options outstanding at December 31, 2021 ​ 9,786,909 ​ $ 11.65 ​ 7.70 ​ $ 172,412 Granted ​ 759,851 ​ ​ 24.42 ​ — ​ ​ — Exercised ​ (276,141) ​ ​ 2.76 ​ — ​ ​ — Forfeited ​ (106,000) ​ ​ 24.68 ​ — ​ ​ — Options outstanding at June 30, 2022 ​ 10,164,619 ​ $ 12.67 ​ 7.39 ​ $ 75,300 Options exercisable at June 30, 2022 ​ 4,752,711 ​ ​ 6.22 ​ 6.16 ​ ​ 55,015 Options unvested at June 30, 2022 ​ 5,411,908 ​ $ 18.40 ​ 8.48 ​ $ 20,285

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting
Schedule of revenue from external customers and long-lived assets, by geographical areas	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Revenues ​ Long-Lived Assets as of ​ Three Months Ended ​ Six Months Ended ​ ​ ​ June 30, 2022 ​ June 30, 2021 ​ June 30, 2022 ​ June 30, 2021 ​ June 30, 2022 ​ December 31, 2021 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ North America $ 115,213 ​ $ 118,342 ​ $ 228,194 ​ $ 187,988 ​ $ 795,042 ​ $ 570,778 Other ​ 36,054 ​ ​ 6,215 ​ ​ 63,876 ​ ​ 8,527 ​ ​ 5,231 ​ ​ 2,778 Total $ 151,267 ​ $ 124,557 ​ $ 292,070 ​ $ 196,515 ​ $ 800,273 ​ $ 573,556

Acquisitions - Fair value of co

Acquisitions - Fair value of consideration (Details) - USD ($) $ in Thousands	Jan. 14, 2022	Dec. 09, 2021	Nov. 22, 2021
Joule Processing LLC
Cash	$ 28,140
Contingent consideration	41,732
Total consideration	$ 69,872
Applied Cryo Technologies
Cash			$ 98,559
Plug Power Inc. Common Stock			46,697
Contingent consideration			14,000
Settlement of preexisting relationship			2,837
Total consideration			162,093
Consideration held by paying agent.			$ 5,000
Frames Holding B.V.
Cash		$ 94,541
Contingent consideration		29,057
Settlement of preexisting relationship		4,263
Total consideration		$ 127,861

Acquisitions - Allocation of Pu

Acquisitions - Allocation of Purchase Price (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Jan. 14, 2022	Dec. 31, 2021	Dec. 09, 2021	Nov. 22, 2021
Joule Processing LLC
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Current assets		$ 2,672
Property, plant and equipment		493
Right of use asset		182
Identifiable intangible assets		60,522
Lease liability		(374)
Current liabilities		(2,612)
Contact liability		(3,818)
Total net assets acquired, excluding goodwill		$ 57,065
Applied Cryo Technologies
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Cash					$ 1,180
Accounts receivable					4,123
Inventory					24,655
Prepaid expenses and other assets					1,506
Property, plant and equipment					4,515
Right of use asset					2,788
Identifiable intangible assets					70,484
Lease liability					(2,672)
Accounts payable, accrued expenses and other liabilities					(7,683)
Deferred tax liability			$ (16,500)		(16,541)
Deferred revenue					(12,990)
Total net assets acquired, excluding goodwill					$ 69,365
Frames Holding B.V.
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Cash				$ 45,394
Accounts receivable				17,910
Inventory				34
Prepaid expenses and other assets				3,652
Property, plant and equipment				709
Right of use asset				1,937
Contract asset				9,960
Identifiable intangible assets				50,478
Lease liability				(1,937)
Contact liability				(22,737)
Accounts payable, accrued expenses and other liabilities				(18,465)
Deferred tax liability	$ (4,100)			(11,259)
Provision for loss contracts				(2,636)
Warranty provisions				(7,566)
Total net assets acquired, excluding goodwill				$ 65,474

Acquisitions - Goodwill (Detail

Acquisitions - Goodwill (Details) - USD ($) $ in Thousands	Jan. 14, 2022	Dec. 09, 2021	Nov. 22, 2021	Jun. 30, 2022	Dec. 31, 2021
Total goodwill recognized				$ 235,026	$ 220,436
Joule Processing LLC
Consideration paid	$ 28,140
Contingent consideration	41,732
Consideration paid	69,872
Less: net assets acquired	(57,065)
Total goodwill recognized	$ (12,807)
Applied Cryo Technologies
Consideration paid			$ 98,559
Contingent consideration			14,000
Consideration paid			162,093
Less: net assets acquired			(69,365)
Total goodwill recognized			$ 92,728
Frames Holding B.V.
Consideration paid		$ 94,541
Contingent consideration		29,057
Consideration paid		127,861
Less: net assets acquired		(65,474)
Total goodwill recognized		$ 62,387

Acquisitions - Narratives (Deta

Acquisitions - Narratives (Details) $ in Thousands, € in Millions				3 Months Ended				6 Months Ended		12 Months Ended
	Jan. 14, 2022 USD ($)	Dec. 09, 2021 USD ($) installment	Nov. 22, 2021 USD ($)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Dec. 09, 2021 EUR (€)
Adjustment to goodwill								$ (6,496)
Change in fair value				$ (5,066)		$ (560)		(2,605)	$ 230
Net income				(173,296)	$ (156,489)	$ (99,634)	$ (60,746)	(329,785)	(160,380)
Joule Processing LLC
Earn-out payments	$ 130,000			41,700				41,700
Achievement of revenue targets	90,000
Achievement of cost targets	40,000
Adjustment to goodwill				136
Acquired	60,522
Fair value of contingent consideration				36,900				36,900
Change in fair value				(4,800)				(4,800)
Revenues				2,000				3,300
Joule Processing LLC | Developed Technology Rights
Acquired	$ 59,200
Estimated useful lives of acquired finite-lived intangible assets	15 years
Joule Processing LLC | Trade Names
Acquired	$ 800
Estimated useful lives of acquired finite-lived intangible assets	4 years
Joule Processing LLC | Noncompete Agreements
Acquired	$ 500
Estimated useful lives of acquired finite-lived intangible assets	6 years
Applied Cryo Technologies
Percentage of outstanding shares			100%
Earn-out payments			$ 30,000	14,000				14,000
Achievement of revenue targets			15,000
Achievement of cost targets			15,000
Adjustment to goodwill				500
Acquired			70,484
Fair value of contingent consideration				13,700				13,700
Change in fair value				(400)				(300)
Deferred tax liability			16,541							$ 16,500
Reduction to valuation allowance										16,500
Deferred tax benefit										$ 16,500
Revenues				16,200				33,100
Applied Cryo Technologies | Developed Technology Rights
Acquired			$ 26,300
Estimated useful lives of acquired finite-lived intangible assets			15 years
Applied Cryo Technologies | Customer Relationships
Acquired			$ 26,600
Estimated useful lives of acquired finite-lived intangible assets			15 years
Applied Cryo Technologies | Trade Names
Acquired			$ 13,700
Estimated useful lives of acquired finite-lived intangible assets			15 years
Applied Cryo Technologies | Noncompete Agreements
Acquired			$ 1,000
Estimated useful lives of acquired finite-lived intangible assets			3 years
Applied Cryo Technologies | Customer Backlog
Acquired			$ 2,900
Estimated useful lives of acquired finite-lived intangible assets			1 year
Frames Holding B.V.
Percentage of outstanding shares		100%									100%
Earn-out payments | €											€ 30
Achievement of cost targets				29,100				29,100
Acquired		$ 50,478
Contingent consideration, number of installments | installment		2
Increase in goodwill				7,200
Fair value of contingent consideration				28,000				28,000
Change in fair value				1,400				1,100
Deferred tax liability		$ 11,259		4,100				4,100
Revenues				$ 28,600				50,500
Frames Holding B.V. | Pro Forma [Member]
Revenues								14,397	31,804
Net income								$ 879	$ 1,034
Frames Holding B.V. | Developed Technology Rights
Estimated useful lives of acquired finite-lived intangible assets		8 years
Fair value of acquisition		$ 5,300
Frames Holding B.V. | Customer Relationships
Fair value of acquisition		$ 27,200
Frames Holding B.V. | Customer Relationships | MPEEM approach
Estimated useful lives of acquired finite-lived intangible assets		17 years
Frames Holding B.V. | Trade Names
Estimated useful lives of acquired finite-lived intangible assets		8 years
Fair value of acquisition		$ 11,600
Frames Holding B.V. | Noncompete Agreements
Estimated useful lives of acquired finite-lived intangible assets		4 years
Fair value of acquisition		$ 4,900
Frames Holding B.V. | Backlog
Estimated useful lives of acquired finite-lived intangible assets		1 year
Fair value of acquisition		$ 1,400

Extended Maintenance Contract_2

Extended Maintenance Contracts (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Accrual for loss contracts
Beginning balance	$ 89,773	$ 24,013
Provision for loss accrual	3,116	71,988
Loss accrual from acquisition		2,636
Releases to service cost of sales	(21,247)	(8,864)
Foreign currency translation adjustment	(103)
Ending balance	$ 71,539	$ 89,773

Earnings Per Share - Dilutive P

Earnings Per Share - Dilutive Potential Common Shares (Details) - USD ($) $ in Thousands	1 Months Ended				3 Months Ended			6 Months Ended
	Jan. 31, 2021	Nov. 30, 2020	Aug. 31, 2020	Sep. 30, 2019	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2021	May 31, 2020	May 29, 2020	May 18, 2020	Mar. 31, 2018	Jul. 20, 2017	Apr. 04, 2017
Earnings Per Share
Number of dilutive potential common stock								148,988,846	138,366,461
Common stock shares issued		43,700,000	35,276,250
3.75% Convertible Senior Notes
Earnings Per Share
Principal amount					$ 197,278	$ 15,200		$ 197,278	$ 15,200		$ 212,500	$ 12,500	$ 200,000
Conversion of notes through common stock issuance					0	0		0	3,016,036
Interest rate (as a percent)					3.75%	3.75%		3.75%	3.75%		3.75%	3.75%	3.75%
7.5% Convertible Senior Note
Earnings Per Share
Principal amount				$ 40,000
Conversion of notes through common stock issuance				16,000,000
Interest rate (as a percent)				7.50%						7.50%
5.5% Convertible Senior Notes
Earnings Per Share
Principal amount	$ 200						$ 33,500							$ 100,000
Conversion of notes through common stock issuance	69,808						14,600,000
Repurchase amount											$ 66,300
Interest rate (as a percent)	5.50%						5.50%			5.50%	5.50%			5.50%
Warrants issued in July 2017
Earnings Per Share
Number of warrants exercised (in shares)								13,094,217	13,094,217
Warrants issued with the Amazon, Inc transaction agreement
Earnings Per Share
Shares of common stock that can be purchased from warrants issued (in shares)																55,286,696
Number of warrants exercised (in shares)								17,461,994	13,960,354
Warrants issued with the Walmart Stores, Inc transaction agreement
Earnings Per Share
Shares of common stock that can be purchased from warrants issued (in shares)															55,286,696
Number of warrants exercised (in shares)					0	7,274,565		0	7,274,565
Stock options outstanding
Earnings Per Share
Number of dilutive potential common stock								24,184,619	9,165,066
Options granted					308,351	117,500		759,851	698,500
Restricted stock outstanding
Earnings Per Share
Number of dilutive potential common stock								5,616,280	6,511,808
Options granted					323,991	98,000		1,126,491	653,000
Common stock warrants
Earnings Per Share
Number of dilutive potential common stock								80,017,181	83,518,821
Convertible senior notes
Earnings Per Share
Number of dilutive potential common stock								39,170,766	39,170,766

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Inventory
Raw materials and supplies - production locations	$ 321,261	$ 187,449
Raw materials and supplies - customer locations	13,629	16,294
Work-in-process	86,235	58,341
Finished goods	8,424	7,079
Inventory	$ 429,549	$ 269,163

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) Plant	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Property, plant and equipment
Property, plant, and equipment	$ 468,741		$ 468,741		$ 284,747
Less: accumulated depreciation	(37,249)		(37,249)		(29,124)
Property, plant, and equipment, net	431,492		431,492		255,623
Capitalized interest	1,500		5,800
Depreciation expense	5,500	$ 1,600	$ 8,100	$ 3,300
Number of hydrogen production plant | Plant			5
Land
Property, plant and equipment
Property, plant, and equipment	1,165		$ 1,165		1,165
Construction in progress
Property, plant and equipment
Property, plant, and equipment	332,982		332,982		169,415
Leasehold Improvements
Property, plant and equipment
Property, plant, and equipment	2,895		2,895		2,099
Software, machinery and equipment
Property, plant and equipment
Property, plant, and equipment	$ 131,699		$ 131,699		$ 112,068

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill - Gross Carrying Amount (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Gross carrying amount and accumulated amortization of acquired identifiable intangible assets
Gross Carrying Amount	$ 221,407	$ 165,027
Accumulated Amortization	(17,194)	(6,819)
Total	$ 204,213	158,208
In process research and development
Gross carrying amount and accumulated amortization of acquired identifiable intangible assets
Gross Carrying Amount		29,000
Total		$ 29,000
Acquired technology
Gross carrying amount and accumulated amortization of acquired identifiable intangible assets
Weighted Average Amortization Period	14 years	13 years
Gross Carrying Amount	$ 104,062	$ 45,530
Accumulated Amortization	(8,877)	(5,392)
Total	$ 95,185	$ 40,138
Dry stack electrolyzer technology
Gross carrying amount and accumulated amortization of acquired identifiable intangible assets
Weighted Average Amortization Period	10 years
Gross Carrying Amount	$ 29,000
Accumulated Amortization	(967)
Total	$ 28,033
Customer relationships, Non-compete agreements, Backlog & Trademark
Gross carrying amount and accumulated amortization of acquired identifiable intangible assets
Weighted Average Amortization Period	12 years	12 years
Gross Carrying Amount	$ 88,345	$ 90,497
Accumulated Amortization	(7,350)	(1,427)
Total	$ 80,995	$ 89,070

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Estimated Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Gross carrying amount and accumulated amortization of acquired identifiable intangible assets
Amortization of Intangible Assets			$ 10,374	$ 730
Estimated amortization expense
Remainder of 2022	$ 10,730		10,730
2023	17,990		17,990
2024	17,933		17,933
2025	17,175		17,175
2026	15,691		15,691
2027 and thereafter	124,694		124,694
Total	204,213		204,213
Acquired technology
Gross carrying amount and accumulated amortization of acquired identifiable intangible assets
Amortization of Intangible Assets	$ 5,200	$ 400	$ 10,400	$ 700

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill - Carrying Amount of Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 220,436
Acquisitions	12,943
Measurement period adjustments	6,496
Foreign currency translation adjustment	(4,849)
Goodwill, Ending Balance	$ 235,026

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($) $ in Millions	Jun. 30, 2022	Mar. 31, 2019
Term Loan facility
Long-Term Debt
Incremental term loan	$ 83.3
Generate Lending, LLC | Secured term loan facility | Loan and security agreement
Long-Term Debt
Loan Amount		$ 100

Convertible Senior Notes - Conv

Convertible Senior Notes - Conversion (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2021	May 31, 2020	May 29, 2020	May 18, 2020
Convertible Senior Notes
Conversion of convertible senior notes to common stock			$ 15,345
3.75% Convertible Senior Notes
Convertible Senior Notes
Principal amount	$ 197,278	$ 197,278	$ 15,200	$ 212,500	$ 12,500	$ 200,000
Interest rate (as a percent)	3.75%	3.75%	3.75%	3.75%	3.75%	3.75%
Conversion of convertible senior notes to common stock	$ 0	$ 0

Convertible Senior Notes (Detai

Convertible Senior Notes (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	May 31, 2020	May 29, 2020	May 18, 2020
Convertible Senior Notes
Net carrying amount	$ 193,269	$ 192,633
3.75% Convertible Senior Notes
Convertible Senior Notes
Principal amount	197,278		$ 15,200	$ 212,500	$ 12,500	$ 200,000
Unamortized debt issuance costs	(4,009)
Net carrying amount	$ 193,269

Convertible Senior Notes - Expe

Convertible Senior Notes - Expenses and Interest (Details) - 3.75% Convertible Senior Notes - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Debt Instrument [Line Items]
Interest expense	$ 1,849	$ 1,850
Amortization of debt issuance costs	320	306
Total	$ 2,169	$ 2,156
Effective interest rate (as a percent)	4.50%	4.50%

Convertible Senior Notes - Capp

Convertible Senior Notes - Capped Call and Common Stock Forward (Details) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended		3 Months Ended		6 Months Ended
	May 18, 2020	Nov. 30, 2020	Aug. 31, 2020	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Mar. 31, 2021	Jan. 31, 2021	Dec. 31, 2020	May 31, 2020	May 29, 2020	Mar. 31, 2018
Capped Call and Common Stock Forward
Closing stock price on grant date		$ 22.25	$ 10.25
Common stock shares issued		43,700,000	35,276,250
Common Stock Forward
Capped Call and Common Stock Forward
Net cost incurred						$ 27,500
Number of shares settled				0	2,200,000	0	8,100,000
3.75% Convertible Senior Notes
Capped Call and Common Stock Forward
Interest rate (as a percent)	3.75%			3.75%	3.75%	3.75%	3.75%				3.75%	3.75%
Principal amount	$ 200,000			$ 197,278	$ 15,200	$ 197,278	$ 15,200				$ 212,500	$ 12,500
Closing stock price on grant date				$ 16.57		$ 16.57
Convertible senior notes				$ 700,000		$ 700,000
3.75% Convertible Senior Notes | Capped Call
Capped Call and Common Stock Forward
Capped call options amount	$ 16,200
Cap price	$ 6.7560
Premium (as a percent)	60%
Closing stock price on grant date	$ 4.11
5.5% Convertible Senior Notes
Capped Call and Common Stock Forward
Interest rate (as a percent)								5.50%	5.50%	5.50%	5.50%		5.50%
Principal amount									$ 200	$ 33,500			$ 100,000
5.5% Convertible Senior Notes | Common Stock Forward
Capped Call and Common Stock Forward
Common stock shares issued						14,397,906

Stockholders' Equity - Common S

Stockholders' Equity - Common Stock and Warrants (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended			2 Months Ended	6 Months Ended		12 Months Ended
	Feb. 28, 2021	Nov. 30, 2020	Aug. 31, 2020	Feb. 28, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2017
Stockholders' equity
Net proceeds from shares of common stock sold		$ 927,300	$ 344,400			$ 3,587,825
Common stock shares issued		43,700,000	35,276,250
Share price (in dollars per share)		$ 22.25	$ 10.25
SK Holdings Co LTD
Stockholders' equity
Net proceeds from shares of common stock sold	$ 1,600,000
Common stock shares issued	54,966,188
Per share price of shares of common stock	$ 29.2893			$ 29.2893
Public Offerings
Stockholders' equity
Net proceeds from shares of common stock sold				$ 2,000,000
Common stock shares issued				32,200,000
Share price (in dollars per share)	$ 65			$ 65
Warrant Issued With Amazon And Walmart Stores Inc Transaction Agreement In 2017
Stockholders' equity
Number of warrants exercised (in shares)					75,655,478		75,655,478
Maximum | Warrant Issued With Amazon And Walmart Stores Inc Transaction Agreement In 2017
Stockholders' equity
Class of Warrant or Right Issued								110,573,392

Warrant Transaction Agreements

Warrant Transaction Agreements - Amazon.com, Inc. Transaction Agreement (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Apr. 04, 2017
Amazon
Class of Warrant or Right [Line Items]
Number of warrants exercised (in shares)			17,461,994		17,461,994
Warrants issued with the Amazon, Inc transaction agreement
Class of Warrant or Right [Line Items]
Shares of common stock that can be purchased from warrants issued (in shares)						55,286,696
Reduction in revenue	$ 0.1	$ 0.1	$ 0.2	$ 0.2
Number of warrants exercised (in shares)			17,461,994	13,960,354
Warrant shares vested (in shares)					55,286,696

Warrant Transaction Agreement_2

Warrant Transaction Agreements - Walmart Stores, Inc. Transaction Agreement (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021	Jul. 20, 2017
Warrants issued with the Walmart Stores, Inc transaction agreement
Warrant Transaction Agreements
Shares of common stock that can be purchased from warrants issued (in shares)						55,286,696
Reduction in revenue	$ 2	$ 1.6	$ 3.7	$ 3.2
Warrant shares vested (in shares)	20,368,782		20,368,782		20,368,782
Number of warrants exercised (in shares)	0	7,274,565	0	7,274,565
Walmart
Warrant Transaction Agreements
Number of warrants exercised (in shares)			13,094,217		13,094,217

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenue
Net revenue	$ 151,267	$ 124,557	$ 292,070	$ 196,515
Sales of fuel cell systems
Revenue
Net revenue	33,411	55,482	70,940	81,161
Sale of hydrogen infrastructure
Revenue
Net revenue	32,414	40,109	59,502	60,462
Sale of electrolyzers
Revenue
Net revenue	3,675	3,687	7,734	4,427
Sales of engineered equipment
Revenue
Net revenue	28,556		50,524
Services performed on fuel cell systems and related infrastructure
Revenue
Net revenue	8,822	5,675	17,062	11,720
Power purchase agreements
Revenue
Net revenue	11,169	8,361	21,206	16,187
Fuel delivered to customers and related equipment
Revenue
Net revenue	14,472	11,121	27,900	22,248
Sale of cryogenic equipment
Revenue
Net revenue	18,177		36,380
Other
Revenue
Net revenue	$ 571	$ 122	$ 822	$ 310

Revenue - Contract balances (De

Revenue - Contract balances (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Revenue
Accounts receivable	$ 61,502	$ 92,675
Contract assets	39,143	38,757
Contract liabilities	$ 127,705	$ 183,090

Revenue - Changes in contract a

Revenue - Changes in contract assets and contract liabilities (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Contract assets
Net change in contract assets	$ (386)
Contract liabilities
Increases due to cash received, net of amounts recognized as revenue during the period	41,170	$ 182,052
Contract liabilities assumed as part of acquisition	3,818	35,727
Revenue recognized that was included in the contract liability balance as of the beginning of the period	(100,373)	(110,974)
Net change in contract liabilities	(55,385)	106,805
Sales of fuel cell systems
Contract assets
Transferred to receivables from contract assets recognized at the beginning of the period	(12,096)	(14,638)
Contract assets assumed as part of acquisition		9,960
Revenue recognized and not billed as of the end of the period	12,482	25,246
Net change in contract assets	$ 386	$ 20,568

Revenue - Estimated future reve

Revenue - Estimated future revenue (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Revenue
Total estimated future revenue	$ 644,965
Sales of fuel cell systems
Revenue
Total estimated future revenue	14,758
Sale of hydrogen installations and other infrastructure
Revenue
Total estimated future revenue	17,781
Sale of electrolyzers
Revenue
Total estimated future revenue	77,061
Sales of engineered equipment
Revenue
Total estimated future revenue	48,607
Services performed on fuel cell systems and related infrastructure
Revenue
Total estimated future revenue	93,371
Power purchase agreements
Revenue
Total estimated future revenue	252,003
Fuel delivered to customers and related equipment
Revenue
Total estimated future revenue	81,785
Sale of cryogenic equipment
Revenue
Total estimated future revenue	$ 59,599
Maximum | Sales of fuel cell systems
Revenue
Duration of estimated revenue expected to be recognized in future (in years)	1 year
Maximum | Sale of hydrogen installations and other infrastructure
Revenue
Duration of estimated revenue expected to be recognized in future (in years)	1 year
Maximum | Services performed on fuel cell systems and related infrastructure
Revenue
Duration of estimated revenue expected to be recognized in future (in years)	7 years
Maximum | Power purchase agreements
Revenue
Duration of estimated revenue expected to be recognized in future (in years)	7 years
Minimum | Services performed on fuel cell systems and related infrastructure
Revenue
Duration of estimated revenue expected to be recognized in future (in years)	5 years
Minimum | Power purchase agreements
Revenue
Duration of estimated revenue expected to be recognized in future (in years)	5 years

Revenue - Others (Details)

Revenue - Others (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Revenue
Capitalized contract costs	$ 0.6	$ 0.4

Income Taxes (Details)

Income Taxes (Details) € in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2022 EUR (€)	Jun. 30, 2021 EUR (€)
Income Taxes
Income tax benefit	$ (423)	$ 0	$ (9)	€ 9	€ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)
Fair Value Measurements
Assets, transfers from level 1 to level 2	$ 0	$ 0
Assets, transfers from level 2 to level 1	0	0
Asset transfer into Level 3	0	0
Asset transfer out of Level 3	0	0
Liabilities, transfers from level 1 to level 2	0	0
Liabilities, transfers from level 2 to level 1	0	0
Liabilities transfer into Level 3	0	0
Liabilities transfer out of Level 3	0	0
Payments to acquire equity method investments	$ 0	$ 22,600

Fair Value Measurements - Asset

Fair Value Measurements - Assets and liabilities measured at fair value on a recurring basis (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Fair Value
Assets, Carrying Amount	$ 5,734,404	$ 5,950,076
Liabilities, Carrying amount	1,395,823	1,344,380
Recurring basis | Level 1 | Swaps and Forward Contracts
Fair Value
Liabilities, Fair value	1,291	981
Recurring basis | Level 1 | Cash and cash equivalents
Fair Value
Assets, Fair Value	117,860	115,241
Recurring basis | Level 1 | U.S. Treasuries
Fair Value
Assets, Fair Value	490,185	1,013,883
Recurring basis | Level 1 | Equity securities
Fair Value
Assets, Fair Value	134,342	147,995
Recurring basis | Level 1 | Swaps and Forward Contracts
Fair Value
Assets, Fair Value	489	70
Recurring basis | Level 2 | Corporate bonds
Fair Value
Assets, Fair Value	225,721	226,382
Recurring basis | Level 3 | Contingent consideration
Fair Value
Liabilities, Fair value	96,508	62,297
Carrying value | Recurring basis | Contingent consideration
Fair Value
Liabilities, Carrying amount	96,508	62,297
Carrying value | Recurring basis | Swaps and Forward Contracts
Fair Value
Liabilities, Carrying amount	1,291	981
Carrying value | Recurring basis | Cash and cash equivalents
Fair Value
Assets, Carrying Amount	117,860	115,241
Carrying value | Recurring basis | Corporate bonds
Fair Value
Assets, Carrying Amount	225,721	226,382
Carrying value | Recurring basis | U.S. Treasuries
Fair Value
Assets, Carrying Amount	490,185	1,013,883
Carrying value | Recurring basis | Equity securities
Fair Value
Assets, Carrying Amount	134,342	147,995
Carrying value | Recurring basis | Swaps and Forward Contracts
Fair Value
Assets, Carrying Amount	489	70
Fair value | Recurring basis | Contingent consideration
Fair Value
Liabilities, Fair value	96,508	62,297
Fair value | Recurring basis | Swaps and Forward Contracts
Fair Value
Liabilities, Fair value	1,291	981
Fair value | Recurring basis | Cash and cash equivalents
Fair Value
Assets, Fair Value	117,860	115,241
Fair value | Recurring basis | Corporate bonds
Fair Value
Assets, Fair Value	225,721	226,382
Fair value | Recurring basis | U.S. Treasuries
Fair Value
Assets, Fair Value	490,185	1,013,883
Fair value | Recurring basis | Equity securities
Fair Value
Assets, Fair Value	134,342	147,995
Fair value | Recurring basis | Swaps and Forward Contracts
Fair Value
Assets, Fair Value	$ 489	$ 70

Fair Value Measurements - Ass_2

Fair Value Measurements - Assets and liabilities measured at fair value on recurring basis that have unobservable inputs (Details) - Recurring basis - Level 3 $ in Thousands	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)
Frames, ACT And Joule
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent consideration	$ 78,600
Acquisition 2020
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent consideration	17,900
Giner ELX, Inc
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent consideration	16,500	$ 16,000
United Hydrogen Group Inc
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent consideration	$ 1,400
Scenario based method | Credit spread | Business Combination, One | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent Consideration, measurement input	16.24
Scenario based method | Discount rate | Business Combination, One | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent Consideration, measurement input	17.56
Scenario based method | Discount rate | Business Combination, One | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent Consideration, measurement input	19.19
Scenario based method | Discount rate | Business Combination, One | Weighted Average
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent Consideration, measurement input	18.38
Monte carlo simulation | Credit spread | Business Combination, Two
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent Consideration, measurement input	16.24
Monte carlo simulation | Credit spread | Business Combination, Three | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent Consideration, measurement input	16.24
Monte carlo simulation | Discount rate | Business Combination, Two | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent Consideration, measurement input	18.84
Monte carlo simulation | Discount rate | Business Combination, Two | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent Consideration, measurement input	19.09
Monte carlo simulation | Revenue volatility | Business Combination, Two
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent Consideration, measurement input	49.11
Monte carlo simulation | Revenue volatility | Business Combination, Three
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent Consideration, measurement input	35
Monte carlo simulation | Revenue volatility | Business Combination, Three | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent Consideration, measurement input	24.4
Monte carlo simulation | Revenue volatility | Business Combination, Three | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent Consideration, measurement input	40.7
Monte carlo simulation | Gross profit volatility | Business Combination, Three | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent Consideration, measurement input	23
Monte carlo simulation | Gross profit volatility | Business Combination, Three | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent Consideration, measurement input	113
Monte carlo simulation | Gross profit volatility | Business Combination, Three | Weighted Average
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent Consideration, measurement input	65
Fair value
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent Consideration	$ 96,508
Fair value | Scenario based method | Business Combination, One
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent Consideration	85,466
Fair value | Monte carlo simulation | Business Combination, Two
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent Consideration	10,350
Fair value | Monte carlo simulation | Business Combination, Three
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent Consideration	$ 692

Fair Value Measurements - Level

Fair Value Measurements - Level 3 Instruments Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2022	Mar. 31, 2022
Reconciliations of the beginning and ending balances for liabilities measured at fair value on a recurring basis using significant unobservable inputs (i.e. Level 3)
Balance at the beginning of the period	$ 103,219	$ 62,297
Payments		(2,667)
Additions due to acquisitions		41,732
Fair value adjustments	(5,066)	2,461
Foreign currency translation adjustment	(1,645)	(604)
Balance at the end of the period	$ 96,508	$ 103,219

Investments - Available-for-sal

Investments - Available-for-sale securities (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 736,983	$ 1,242,933
Gross Unrealized Gains		20
Gross Unrealized Losses	(21,077)	(2,688)
Fair Value	715,906	1,240,265
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	233,386	228,614
Gross Unrealized Losses	(7,665)	(2,232)
Fair Value	225,721	226,382
U.S. Treasuries
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	503,597	1,014,319
Gross Unrealized Gains		20
Gross Unrealized Losses	(13,412)	(456)
Fair Value	$ 490,185	$ 1,013,883

Investments - Equity Securities

Investments - Equity Securities (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Debt and Equity Securities, FV-NI [Line Items]
Cost	$ 146,247	$ 141,257
Gross Unrealized Gains		7,312
Gross Unrealized Losses	(11,905)	(574)
Fair Value	134,342	147,995
Fixed income mutual funds
Debt and Equity Securities, FV-NI [Line Items]
Cost	70,247	70,247
Gross Unrealized Losses	(2,219)	(574)
Fair Value	68,028	69,673
Exchange traded mutual funds
Debt and Equity Securities, FV-NI [Line Items]
Cost	76,000	71,010
Gross Unrealized Gains		7,312
Gross Unrealized Losses	(9,686)
Fair Value	$ 66,314	$ 78,322

Investments - Contractual Matur

Investments - Contractual Maturity (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Amortized Cost
Within one year	$ 275,593	$ 670,584
After one through five years	461,390	572,349
Amortized Cost	736,983	1,242,933
Fair Value
Within one year	272,371	670,306
After one through five years	443,535	569,959
Fair Value	715,906	1,240,265
Accrued interest income	$ 3,400	$ 3,700

Operating and Finance Lease L_3

Operating and Finance Lease Liabilities - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Rental expense for all operating lease	$ 15.1	$ 8.2	$ 29.2	$ 16.3
Right of use assets, finance lease	47.1		47.1		$ 33.9
Amortization of right-of-use asset from finance lease	2.9		2.9		1.5
Prepaid rent and security deposit	3.9		3.9		$ 3.5
Amortization of right of use asset, finance Lease	0.8		1.5
Interest on lease liabilities, finance lease	$ 0.6		$ 1.2
Minimum
Lessee, Lease, Description [Line Items]
Lease Term - as Lessee	1 year		1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease Term - as Lessee	9 years		9 years

Operating and Finance Lease L_4

Operating and Finance Lease Liabilities - Future minimum lease payments under operating and finance leases (Details) $ in Thousands	Jun. 30, 2022 USD ($)
Future minimum lease payments under operating lease
Remainder of 2022	$ 30,372
2023	60,587
2024	59,442
2025	54,991
2026	47,150
2027 and thereafter	49,979
Total future minimum lease payments	302,521
Less imputed interest	(71,974)
Total operating lease, liabilities	230,547
Future minimum lease payments under finance leases
Remainder of 2022	4,360
2023	8,617
2024	8,590
2025	11,488
2026	8,856
2027 and thereafter	4,022
Total future minimum lease payments	45,933
Less imputed interest	(6,637)
Total finance lease liabilities	39,296
Future minimum lease payments under operating and finance leases
Remainder of 2022	34,732
2023	69,204
2024	68,032
2025	66,479
2026	56,006
2027 and thereafter	54,001
Total future minimum payments	348,454
Less imputed interest	(78,611)
Total	$ 269,843

Operating and Finance Lease L_5

Operating and Finance Lease Liabilities - Other information related to the operating leases (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Lessee, Operating Lease, Description [Abstract]
Cash payments	$ 27,601	$ 16,081
Weighted average remaining lease term (in years)	5 years 3 months 10 days	5 years 9 months 25 days
Weighted average discount rate (as a percent)	10.80%	11.40%

Operating and Finance Lease L_6

Operating and Finance Lease Liabilities - Other information related to the finance leases (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Other information
Cash payments	$ 3,915	$ 1,166
Weighted average remaining lease term (years)	4 years 3 months 10 days	4 years 10 months 9 days
Weighted average discount rate	6.40%	6.90%

Finance Obligation - Narrative

Finance Obligation - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Finance Obligation
Finance obligation under sale-leaseback transaction	$ 266,406
Current portion of finance obligation in sale-leaseback transaction	46,784	$ 42,040
Noncurrent portion of finance obligation in sale-leaseback transaction	219,622	211,644
Sale of Future revenue - debt
Finance Obligation
Finance obligation under sale-leaseback transaction	251,679	236,600
Current portion of finance obligation in sale-leaseback transaction	43,700	37,500
Noncurrent portion of finance obligation in sale-leaseback transaction	208,000	199,100
Sale/leaseback financings
Finance Obligation
Finance obligation under sale-leaseback transaction	14,727	17,000
Current portion of finance obligation in sale-leaseback transaction	3,000	4,500
Noncurrent portion of finance obligation in sale-leaseback transaction	$ 11,700	$ 12,500

Finance Obligation - Future min

Finance Obligation - Future minimum payments under finance obligations (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Future minimum payments under finance obligations
Remainder of 2022	$ 36,511
2023	72,885
2024	78,640
2025	64,479
2026	47,756
2027 and thereafter	42,092
Total future minimum payments	342,363
Less imputed interest	(75,957)
Total	266,406
Sale of Future revenue - debt
Future minimum payments under finance obligations
Remainder of 2022	34,662
2023	69,324
2024	69,324
2025	64,067
2026	47,344
2027 and thereafter	41,481
Total future minimum payments	326,202
Less imputed interest	(74,523)
Total	251,679	$ 236,600
Sale/leaseback financings
Future minimum payments under finance obligations
Remainder of 2022	1,849
2023	3,561
2024	9,316
2025	412
2026	412
2027 and thereafter	611
Total future minimum payments	16,161
Less imputed interest	(1,434)
Total	$ 14,727	$ 17,000

Finance Obligation - Other info

Finance Obligation - Other information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Finance Obligation
Cash payments (in thousands)	$ 33,672	$ 26,508
Weighted average remaining term (years)	4 years 9 months 18 days	4 years 10 months 24 days
Weighted average discount rate	10.70%	11.30%

Commitments and Contingencies -

Commitments and Contingencies - Concentrations of Credit Risk (Details) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022 USD ($) customer	Jun. 30, 2021 customer	Jun. 30, 2022 USD ($) customer	Jun. 30, 2021 customer	Dec. 31, 2021 USD ($) customer
Customer Concentration
Federal depository insurance coverage	$ 0.3		$ 0.3
Applied Cryo Technologies
Customer Concentration
Consideration held by paying agent.			5
Joule acquisitions
Customer Concentration
Consideration held by paying agent.			2.3
Collateral Related to Acquisitions | Frames Holding B.V.
Customer Concentration
Restricted Cash	14.5		14.5
Restricted Cash	14.5		14.5
Customer concentration
Customer Concentration
Restricted cash	270.9		270.9		$ 275.1
Letter of credit	331.7		331.7		286
Construction escrow	67.7		67.7		$ 67.7
Customer concentration | Letter of Credit
Customer Concentration
Customs related letters of credit	$ 13.7		$ 13.7
Accounts receivable | Customer concentration | One customers
Customer Concentration
Number of customers | customer					1
Concentration risk (as a percent)					46.60%
Accounts receivable | Customer concentration | Two customers
Customer Concentration
Number of customers | customer	2		2
Concentration risk (as a percent)			36.40%
Revenues | Customer concentration | Two customers
Customer Concentration
Number of customers | customer	2		2
Concentration risk (as a percent)	38%
Revenues | Customer concentration | Three customers
Customer Concentration
Number of customers | customer		3		3
Concentration risk (as a percent)		81.30%		77.70%
Revenues | Customer concentration | Four customers
Customer Concentration
Concentration risk (as a percent)			35.50%

Employee Benefit Plans - Assump

Employee Benefit Plans - Assumptions For Estimating Fair Value (Details) - Stock Incentive Plan 2011 And 2021 - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Employee Benefit Plans
Compensation cost	$ 42,553	$ 11,120	$ 83,499	$ 19,603
Cost of sales
Employee Benefit Plans
Compensation cost	1,268	279	3,144	550
Research and development
Employee Benefit Plans
Compensation cost	857	1,394	2,579	2,752
Selling, general and administrative
Employee Benefit Plans
Compensation cost	$ 40,428	$ 9,447	$ 77,776	$ 16,301

Employee Benefit Plans - Stock

Employee Benefit Plans - Stock Activity, Weighted Average Exercise Price (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Service Options Awards
Shares
Options outstanding, beginning balance (in shares)			9,786,909
Granted (in shares)			759,851
Exercised (in shares)			(276,141)
Forfeited (in shares)			(106,000)
Options outstanding, end balance (in shares)	10,164,619		10,164,619		9,786,909
Options exercisable (in shares)	4,752,711		4,752,711
Options unvested (in shares)	5,411,908		5,411,908
Weighted Average Exercise Price
Options outstanding, beginning balance, weighted-average exercise price			$ 11.65
Granted, weighted-average exercise price			24.42
Exercised, weighted-average exercise price			2.76
Forfeited, weighted-average exercise price			24.68
Options outstanding, end balance, weighted-average exercise price	$ 12.67		12.67		$ 11.65
Options exercisable, weighted-average exercise price	6.22		6.22
Options unvested, weighted-average exercise price	$ 18.40		$ 18.40
Stock option activity additional disclosures
Options outstanding, weighted-average remaining contractual term			7 years 4 months 20 days		7 years 8 months 12 days
Options exercisable, weighted-average remaining contractual term			6 years 1 month 28 days
Options unvested, weighted-average remaining contractual term			8 years 5 months 23 days
Options outstanding, aggregate intrinsic value	$ 75,300		$ 75,300		$ 172,412
Options exercisable, aggregate intrinsic value	55,015		55,015
Options unvested, aggregate intrinsic value	$ 20,285		$ 20,285
Weighted-average grant date fair value of options granted (per share)	$ 16.22	$ 29.23	$ 15.68	$ 46.67
Fair value of stock options that vested during the period	$ 500	$ 400	$ 6,200	$ 500
Compensation cost	6,500	4,300	12,400	$ 7,600
Unrecognized compensation cost	43,600		$ 43,600
Period for recognition			1 year 11 months 15 days	1 year 11 months 15 days
Intrinsic fair value of options exercised			$ 4,100	$ 100,000
Performance Option Awards
Shares
Granted (in shares)			0
Stock option activity additional disclosures
Compensation cost	25,300	$ 0	$ 50,400	$ 0
Unrecognized compensation cost	$ 99,800		$ 99,800
Period for recognition			2 years 2 months 23 days

Employee Benefit Plans - Restri

Employee Benefit Plans - Restricted Stock Activity (Details) - Restricted stock outstanding - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Employee Benefit Plans
Compensation cost	$ 10,900	$ 6,800	$ 20,700	$ 12,000
Unrecognized compensation cost	77,700		$ 77,700
Period for recognition			1 year 5 months 19 days
Fair value of restricted stock units vested	$ 600	$ 3,900	$ 8,900	$ 4,400
Shares
Unvested restricted stock, beginning balance (in shares)			4,851,873
Granted (in shares)			1,126,491
Vested (in shares)			(265,500)
Forfeited (in shares)			(96,584)
Unvested restricted stock, end balance (in shares)	5,616,280		5,616,280
Weighted Average Grant Date Fair Value
Unvested restricted stock, beginning balance, weighted average grant date fair value			$ 21.59
Granted, weighted average grant date fair value	$ 25.49	$ 26.08	24.30	$ 43.05
Vested, weighted average grant date fair value			33.37
Forfeited, weighted average grant date fair value			25.83
Unvested restricted stock, end balance, weighted average grant date fair value	$ 18.84		$ 18.84
Aggregate Intrinsic Value
Unvested restricted stock, end balance, aggregate intrinsic value	$ 92,049		$ 92,049

Employee Benefit Plans - 401(K)

Employee Benefit Plans - 401(K) Saving And Retirement Plan (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Non Employee Director
Non-Employee Benefit Plan Compensation
Granted (in shares)	6,650	2,585	9,940	5,238
Compensation cost	$ 0.1	$ 0.1	$ 0.2	$ 0.2
Savings And Retirement Plan 401 K
401(K) Savings & Retirement Plan
Common stock, shares issued			201,180	12,513
Total expense (including issuance of shares)	$ 2	$ 0.9	$ 4.3	$ 2.2

Segment Reporting (Details)

Segment Reporting (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) segment	Jun. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 151,267	$ 124,557	$ 292,070	$ 196,515
Long-Lived Assets	800,273		$ 800,273		$ 573,556
Number of operating segments | segment			1
Number of reportable segments | segment			1
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	115,213	118,342	$ 228,194	187,988
Long-Lived Assets	795,042		795,042		570,778
Other Member
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	36,054	$ 6,215	63,876	$ 8,527
Long-Lived Assets	$ 5,231		$ 5,231		$ 2,778