Company research
PLUG POWER INC
CIK 1093691Updated Sep 24, 2026
SecurityPLUG · NASDAQ · equity
PLUG price & chart
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NASDAQ:PLUG on TradingView ↗About the company
Plug is building the global hydrogen economy with a fully integrated ecosystem spanning production, storage, delivery, and power generation. A first mover in the industry, Plug provides electrolyzers, liquid hydrogen, fuel cell systems, storage tanks, and fueling infrastructure to industries such as material handling, industrial applications, and energy producers, advancing energy independence and decarbonization at scale.
In the news
Plug Wins 50MW Electrolyzer Order as Orica's Hunter Valley Hub Becomes the Largest Australian Renewable Hydrogen Project to Reach FID ↗
Pomerantz Law Firm Announces the Filing of a Class Action Against Plug Power Inc. and Certain Officers - PLUG ↗
Plug Power Inc. Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights - PLUG ↗
Recent filings
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Items 5.02
144 filing
4 filing
144 filing
144 filing
Show 5 more recent filings
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 2,594,568,000Source | 3,602,846,000Source | 4,902,738,000Source | 5,764,276,000Source |
| Property, Plant and Equipment, NetUSD | 281,001,000Source | 866,329,000Source | 1,436,177,000Source | 719,793,000Source |
| GoodwillUSD | — | 0Source | 0Source | 248,607,000Source |
| Intangible Assets, Net (Excluding Goodwill)USD | 29,228,000Source | 84,660,000Source | 188,886,000Source | 207,725,000Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 368,540,000Source | 205,693,000Source | 135,033,000Source | 690,630,000Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 134,758,000Source | 157,244,000Source | 243,811,000Source | 129,450,000Source |
| Inventory, NetUSD | 520,968,000Source | 682,642,000Source | 961,253,000Source | 645,636,000Source |
| Assets, CurrentUSD | 1,410,268,000Source | 1,477,484,000Source | 1,786,965,000Source | 3,305,298,000Source |
| Prepaid Expense and Other Assets, CurrentUSD | 93,988,000Source | 139,845,000Source | 104,068,000Source | 150,389,000Source |
| Operating Lease, Right-of-Use AssetUSD | 182,206,000Source | 218,081,000Source | 399,969,000Source | 360,287,000Source |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 1,591,254,000Source | 1,795,090,000Source | 2,004,613,000Source | 1,704,062,000Source |
| Stockholders’ equity: | ||||
| Common Stock, Value, IssuedUSD | 13,943,000Source | 9,342,000Source | 6,254,000Source | 6,084,000Source |
| Additional Paid in CapitalUSD | 9,186,314,000Source | 8,430,537,000Source | 7,494,685,000Source | 7,297,306,000Source |
| Retained Earnings (Accumulated Deficit)USD | -8,226,039,000Source | -6,594,445,000Source | -4,489,744,000Source | -3,120,911,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | 6,796,000Source | -2,502,000Source | -6,802,000Source | -26,004,000Source |
| Stockholders' Equity Attributable to ParentUSD | 978,069,000Source | 1,734,137,000Source | 2,898,125,000Source | 4,060,214,000Source |
| Liabilities and EquityUSD | 2,594,568,000Source | 3,602,846,000Source | 4,902,738,000Source | 5,764,276,000Source |
| Current liabilities: | ||||
| Liabilities, CurrentUSD | 610,588,000Source | 748,489,000Source | 964,800,000Source | 635,275,000Source |
| Operating Lease, Liability, CurrentUSD | 70,407,000Source | 71,250,000Source | 63,691,000Source | 48,861,000Source |
| Accounts Payable, CurrentUSD | 168,744,000Source | 180,966,000Source | 257,828,000Source | 191,895,000Source |
| Operating Lease, Liability, NoncurrentUSD | 194,709,000Source | 242,148,000Source | 292,002,000Source | 271,504,000Source |
| Other Liabilities, NoncurrentUSD | — | 135,833,000Source | 146,679,000Source | 193,051,000Source |
| Stockholders' Equity Attributable to Noncontrolling InterestUSD | 25,245,000Source | 73,619,000Source | — | — |
| Additional Financial Items | ||||
| Accrued Liabilities, CurrentUSD | 128,010,000Source | 103,145,000Source | 200,544,000Source | 156,430,000Source |
| Deferred Revenue, CurrentUSD | 66,742,000Source | 144,093,000Source | 204,139,000Source | 131,813,000Source |
| Deferred Revenue, NoncurrentUSD | 34,203,000Source | 58,532,000Source | 84,163,000Source | — |
| Deferred Tax Liabilities, NetUSD | — | — | 3,185,000Source | 11,508,000Source |
| Long-term DebtUSD | — | — | 3,900,000Source | 9,000,000Source |
| Long-term Debt, Current MaturitiesUSD | — | 200,000Source | 2,716,000Source | 5,142,000Source |
| Restricted Cash and Investments, CurrentUSD | 186,746,000Source | 198,008,000Source | 216,552,000Source | 158,958,000Source |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Net Income (Loss), Including Portion Attributable to Noncontrolling InterestUSD | -1,693,668,000Source | -2,104,905,000Source | -1,368,833,000Source | -724,008,000Source |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Share-based Payment Arrangement, Noncash ExpenseUSD | 50,545,000Source | 82,203,000Source | 162,908,000Source | 179,627,000Source |
| Changes in operating assets and liabilities: | ||||
| Increase (Decrease) in Accounts ReceivableUSD | 5,351,000Source | -57,653,000Source | 122,768,000Source | 30,920,000Source |
| Increase (Decrease) in InventoriesUSD | -51,894,000Source | -129,291,000Source | 408,631,000Source | 363,709,000Source |
| Deferred Income Tax Expense (Benefit)USD | -164,665,000Source | -215,030,000Source | -103,372,000Source | -35,737,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | -535,835,000Source | -728,643,000Source | -1,106,570,000Source | -828,623,000Source |
| Cash flows from investing activities: | ||||
| Payments to Acquire Businesses, Net of Cash AcquiredUSD | — | — | — | 56,906,000Source |
| Net Cash Provided by (Used in) Investing ActivitiesUSD | -139,008,000Source | -402,364,000Source | 728,052,000Source | -679,370,000Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | 111,164,000Source | 287,098,000Source | 665,208,000Source | 436,610,000Source |
| Cash flows from financing activities: | ||||
| Payment, Tax Withholding, Share-based Payment ArrangementUSD | 3,646,000Source | 2,527,000Source | 10,007,000Source | 23,735,000Source |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | 629,953,000Source | 983,170,000Source | 6,117,000Source | -77,457,000Source |
| Repayments of Long-term DebtUSD | 263,877,000Source | 3,526,000Source | — | — |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | 162,847,000Source | 70,660,000Source | -555,597,000Source | -1,790,639,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 993,984,000Source | 1,040,709,000Source | 1,169,144,000Source | 1,549,344,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 59,673,000Source | 44,962,000Source | 41,811,000Source | 35,520,000Source |
| Income Taxes Paid, NetUSD | 600,000Source | — | — | — |
| Additional Financial Items | ||||
| AmortizationUSD | — | — | — | 500,000Source |
| Share-based Payment Arrangement, ExpenseUSD | — | — | — | 169,755,000Source |
| Amortization of Debt Issuance CostsUSD | — | — | 2,213,000Source | 2,710,000Source |
| Amortization of Debt Issuance Costs and DiscountsUSD | 1,256,000Source | -2,826,000Source | — | — |
| Amortization of Intangible AssetsUSD | 6,950,000Source | 23,441,000Source | 19,097,000Source | 21,195,000Source |
| Debt Securities, Available-for-sale, Realized Gain (Loss)USD | — | — | -12,806,000Source | -1,395,000Source |
| DepreciationUSD | 37,610,000Source | 61,115,000Source | 51,986,000Source | 30,402,000Source |
| Derivative, Gain (Loss) on Derivative, NetUSD | — | -1,665,000Source | — | — |
| Equity Method Investment, Other than Temporary ImpairmentUSD | 42,500,000Source | — | — | — |
| Equity Securities, FV-NI, Unrealized Gain (Loss)USD | — | — | 11,421,000Source | -18,159,000Source |
| Gain (Loss) on Disposition of Property Plant EquipmentUSD | — | -2,885,000Source | — | -268,000Source |
| Gain (Loss) on Extinguishment of DebtUSD | -31,501,000Source | -16,278,000Source | — | -986,000Source |
| GoodwillUSD | — | 0Source | 0Source | 248,607,000Source |
| Goodwill, Impairment LossUSD | — | — | 249,480,000Source | 0Source |
| Impairment of Intangible Assets (Excluding Goodwill)USD | 48,886,000Source | — | — | — |
| Impairment of Intangible Assets, Finite-livedUSD | — | 79,700,000Source | — | — |
| Income (Loss) from Equity Method InvestmentsUSD | -55,061,000Source | -32,177,000Source | -41,786,000Source | -20,166,000Source |
| Income Tax Expense (Benefit)USD | 356,000Source | -2,686,000Source | -7,364,000Source | 839,000Source |
| Inventory Write-downUSD | 97,062,000Source | 171,980,000Source | 93,742,000Source | — |
| Investment Income, InterestUSD | 19,429,000Source | — | — | — |
| Net Income (Loss) Attributable to ParentUSD | -1,631,594,000Source | -2,104,701,000Source | -1,368,833,000Source | -724,008,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | -62,074,000Source | -204,000Source | — | — |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | -1,631,594,000Source | -2,104,701,000Source | -1,368,833,000Source | -724,008,000Source |
| Operating ExpensesUSD | 1,225,345,000Source | 1,394,957,000Source | 835,732,000Source | 485,194,000Source |
| Operating Lease, ExpenseUSD | 77,800,000Source | 98,100,000Source | 95,000,000Source | 67,600,000Source |
| Operating Lease, Impairment LossUSD | 8,588,000Source | — | 200,000Source | 1,500,000Source |
| Other Nonoperating Income (Expense)USD | 7,609,000Source | -19,963,000Source | -131,000Source | -2,303,000Source |
| Proceeds from Issuance of Common StockUSD | 322,353,000Source | 857,872,000Source | — | — |
| Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-saleUSD | — | — | 1,006,161,000Source | 247,879,000Source |
| Proceeds from Noncontrolling InterestsUSD | 1,780,000Source | 10,163,000Source | — | — |
| Restricted Cash and Investments, CurrentUSD | 186,746,000Source | 198,008,000Source | 216,552,000Source | 158,958,000Source |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Total RevenueUSD | 709,919,000Source | 628,814,000Source | 891,340,000Source | 701,440,000Source |
| Cost of Goods and Services Sold | — | — | — | — |
| Selling, General and Administrative ExpenseUSD | 379,570,000Source | 376,110,000Source | 422,469,000Source | 363,929,000Source |
| Operating Income (Loss)USD | -1,467,385,000Source | -2,019,844,000Source | -1,343,523,000Source | -679,550,000Source |
| Other Nonoperating Income (Expense)USD | 7,609,000Source | -19,963,000Source | -131,000Source | -2,303,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | -1,693,312,000Source | -2,107,591,000Source | -1,376,197,000Source | -723,169,000Source |
| Income Tax Expense (Benefit)USD | 356,000Source | -2,686,000Source | -7,364,000Source | 839,000Source |
| Net Income (Loss) Attributable to Noncontrolling InterestUSD | -62,074,000Source | -204,000Source | — | — |
| Net Income (Loss) Attributable to ParentUSD | -1,631,594,000Source | -2,104,701,000Source | -1,368,833,000Source | -724,008,000Source |
| Earnings Per Share, BasicUSD per share | -1.42Source | -2.68Source | -2.3Source | -1.25Source |
| Earnings Per Share, DilutedUSD per share | -1.42Source | -2.68Source | -2.3Source | -1.25Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 1,146,691,189Source | 785,024,373Source | 595,468,419Source | 579,716,708Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 1,146,691,189Source | 785,024,373Source | 595,468,419Source | 579,716,708Source |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsUSD | 6,950,000Source | 23,441,000Source | 19,097,000Source | 21,195,000Source |
| Current Income Tax Expense (Benefit)USD | 346,000Source | 469,000Source | 1,170,000Source | 668,000Source |
| Goodwill, Impairment LossUSD | — | — | 249,480,000Source | 0Source |
| Gross ProfitUSD | -242,040,000Source | -624,887,000Source | -507,791,000Source | -194,356,000Source |
| Income (Loss) from Equity Method InvestmentsUSD | -55,061,000Source | -32,177,000Source | -41,786,000Source | -20,166,000Source |
| Interest ExpenseUSD | 65,127,000Source | 46,622,000Source | 45,201,000Source | 39,037,000Source |
| Investment Income, InterestUSD | 19,429,000Source | — | — | — |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | -1,631,594,000Source | -2,104,701,000Source | -1,368,833,000Source | -724,008,000Source |
| Operating ExpensesUSD | 1,225,345,000Source | 1,394,957,000Source | 835,732,000Source | 485,194,000Source |
| Operating Lease, ExpenseUSD | 77,800,000Source | 98,100,000Source | 95,000,000Source | 67,600,000Source |
| Research and Development ExpenseUSD | 57,960,000Source | 77,226,000Source | 113,745,000Source | 99,579,000Source |
| Restructuring and Related Cost, Incurred CostUSD | 25,857,000Source | 8,153,000Source | — | — |
Filing attachments
tm2622713d1_ex99-1.htm · 8-K · 2026-08-10
EX-99.1 2 tm2622713d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Plug Reports Revenue of ~$178 Million, ~Break-Even Gross Margin, Net Cash Usage of ~$61 Million and Increases Revenue Guidance for 2026 SLINGERLANDS, N.Y., Aug. 10, 2026 - Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the hydrogen economy, today reported second quarter 2026 results. As compared to the prior year and prior quarter, the Company delivered higher revenue, significant gross marg…
Read attachment ↗tm2620282d1_ex99-1.htm · 8-K · 2026-07-13
EX-99.1 4 tm2620282d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Plug Power Announces Sale of Graham, Texas Project and Staged Closing of New York Gateway Project with Stream Data Centers, Expects $80 Million in Near-Term Liquidity as Part of $275 Million-Plus Initiative SLINGERLANDS, N.Y., July 13, 2026 - Plug Power Inc. (NASDAQ: PLUG) today announced two transactions with Stream US Data Centers, LLC ("Stream"), advancing the Company’s previously announced strategic infrastructure optimization …
Read attachment ↗tm2617557d1_ex99-1.htm · 8-K · 2026-06-11
EX-99.1 2 tm2617557d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Copyright 2021, Plug Power Inc. Plug Power Annual Meeting Jose Luis Crespo, CEO and President June 11, 2026 2 This presentation contains forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward - looking statements include, but are not limited to, statements regarding the Company’s expectations, beliefs, plans, projections, and anticipated results of operations, includin…
Read attachment ↗tm2614034d1_ex99-1.htm · 8-K · 2026-05-11
EX-99.1 2 tm2614034d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Plug Power Reports Strong Q1 2026 Results with 22% Revenue Growth and 71% Margin Improvement Year over Year SLINGERLANDS, N.Y., May 11, 2026 - Plug Power Inc., a global leader in hydrogen solutions, today reported results for the first quarter of 2026, delivering strong revenue growth, meaningful margin improvement, and continued progress toward profitability. The Company exceeded its expectations on revenue and delivered its marg…
Read attachment ↗tm267677d1_ex99-1.htm · 8-K · 2026-03-02
EX-99.1 2 tm267677d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 FOR IMMEDIATE RELEASE Plug Power Reports Q4 and Full Year 2025 Results with Strong Sales Growth and Margin Expansion Achieved Positive 4 th Quarter 2025 Gross Margin Setting the Stage for 2026 Financial Targets Slingerlands, NY - March 2, 2026 - Plug Power Inc., a global leader in comprehensive hydrogen solutions for the hydrogen economy, today announced financial results and operational milestones for the 4th quarter and fiscal …
Read attachment ↗tm267395d1_ex99-1.htm · 8-K · 2026-02-26
EX-99.1 3 tm267395d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Plug Power Executes $132.5 Million Definitive Agreement with Stream Data Centers as First Step in $275 Million Strategic Infrastructure Optimization Initiative First of three phases of targeted strategic infrastructure optimization initiative SLINGERLANDS, N.Y., February 26, 2026 - Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the hydrogen economy, today announced it has entered into defini…
Read attachment ↗