I'm not sure what "more" I was missing, please take time to actually explain your posts I cannot read your mind. I think I get your drift and I certainly do not contradict myself.
Since the Walmart Deal in 2014 and the switch to PPA the target for breakeven/profitability was end of 2016, during that time they held annual business updates to present this and other targets
in 2015 the ONLY target missed was the profitability one - they doubled revenues stared second shift etc
in 2016 they reaffirmed the end of 2016 profitability and Q4 was indeed a great quarter but no where near profitable due to a number of things. In fact when studying the Q4 numbers you realize they had no chance since they reinvesting so heavily in research for their future markets and the cost of finance was so high.
In this years business call which they reluctantly held and after the Amazon deal they made a much more realistic call which basically says , once we get up to the roll out speed amazon has asked of us - probably close to one DC a week - we will be profitable. Doing the numbers using the current margins on sales then they need $100-120m a quarter (or less with better margins). That will be in Q3 or Q4 2018.
Q1 and Q2 this year are terrible and the Sales director should be fired since where was the increase in installations in Q3 and Q4 to help customer get ITC before they ceased. Check the list of existing customers and see how many are just one or two all should now be rolling out and certainly if any have built a new DC they should include H2 fuel cells. As I have mentioned before it is time for Andy to step aside as CEO and let a commercial business man run the company while he does the evangelical Hydrogen city vision stuff which has secured the Amazon, Carrefour, Chinese , FedEx and other deals.
Going forward though the growth to $500 m a year is clear, by end 2018 they should be doing close to that, in 2019 the first customers start to replace their existing cells - may be even Walmart if they are on 5 year lease terms - having a recurring revenues from customers upgrading is always good for the books.
