# Plug Power Inc: overview

PLUG · Nasdaq · CIK 1093691 · [Technology](/sectors/technology.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/plug.md) · [Financials](/companies/plug/financials.md) · [Filings](/companies/plug/filings.md) · [Insiders](/companies/plug/insiders.md)

Latest reported revenue: [$178.3m](/filings/0001104659-26-093454.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 10, 2026 (XBRL us-gaap:Revenues, accession 0001104659-26-093454).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [174](/filings/0001104659-25-109279.md) | [191 d](/filings/0001104659-26-022286.md) | [134](/filings/0001104659-26-058712.md) | [174](/filings/0001104659-26-093454.md) | [177](/filings/0001104659-25-109279.md) | [225 d](/filings/0001104659-26-022286.md) | [164](/filings/0001104659-26-058712.md) | [178](/filings/0001104659-26-093454.md) |
| Gross margin | % | [(57.6%)](/filings/0001104659-25-109279.md) | [(122.5%) d](/filings/0001104659-26-022286.md) | [(55.3%)](/filings/0001104659-26-058712.md) | [(30.7%)](/filings/0001104659-26-093454.md) | [(67.9%)](/filings/0001104659-25-109279.md) | [2.4% d](/filings/0001104659-26-022286.md) | [(13.2%)](/filings/0001104659-26-058712.md) | [(0.9%)](/filings/0001104659-26-093454.md) |
| Operating margin | % | [(124.4%)](/filings/0001104659-25-109279.md) | [(678.7%) d](/filings/0001104659-26-022286.md) | [(133.5%)](/filings/0001104659-26-058712.md) | [(101.7%)](/filings/0001104659-26-093454.md) | [(197.0%)](/filings/0001104659-25-109279.md) | [(338.9%) d](/filings/0001104659-26-022286.md) | [(67.0%)](/filings/0001104659-26-058712.md) | [(36.0%)](/filings/0001104659-26-093454.md) |
| Net margin | % | [(121.5%)](/filings/0001104659-25-109279.md) | [(697.5%) d](/filings/0001104659-26-022286.md) | [(147.1%)](/filings/0001104659-26-058712.md) | [(130.5%)](/filings/0001104659-26-093454.md) | [(204.4%)](/filings/0001104659-25-109279.md) | [(375.6%) d](/filings/0001104659-26-022286.md) | [(150.0%)](/filings/0001104659-26-058712.md) | [(105.6%)](/filings/0001104659-26-093454.md) |
| Diluted EPS | $ per share | [(0.25)](/filings/0001104659-25-109279.md) | not reported | [(0.21)](/filings/0001104659-26-058712.md) | [(0.20)](/filings/0001104659-26-093454.md) | [(0.31)](/filings/0001104659-25-109279.md) | not reported | [(0.18)](/filings/0001104659-26-058712.md) | [(0.14)](/filings/0001104659-26-093454.md) |
| Free cash flow | $m | [(234) d](/filings/0001104659-25-109279.md) | [(165) d](/filings/0001104659-26-022286.md) | [(146)](/filings/0001104659-26-058712.md) | [(230) d](/filings/0001104659-26-093454.md) | [(118) d](/filings/0001104659-25-109279.md) | [(153) d](/filings/0001104659-26-022286.md) | [(152)](/filings/0001104659-26-058712.md) | [(100) d](/filings/0001104659-26-093454.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [502](/filings/0001558370-24-002178.md) | [701](/filings/0001558370-25-002049.md) | [891](/filings/0001104659-26-022286.md) | [629](/filings/0001104659-26-022286.md) | [710](/filings/0001104659-26-022286.md) |
| Gross margin | % | [(34.1%)](/filings/0001558370-24-002178.md) | [(27.7%)](/filings/0001558370-25-002049.md) | [(57.0%)](/filings/0001104659-26-022286.md) | [(99.4%)](/filings/0001104659-26-022286.md) | [(34.1%)](/filings/0001104659-26-022286.md) |
| Operating margin | % | [(87.1%)](/filings/0001558370-24-002178.md) | [(96.9%)](/filings/0001558370-25-002049.md) | [(150.7%)](/filings/0001104659-26-022286.md) | [(321.2%)](/filings/0001104659-26-022286.md) | [(206.7%)](/filings/0001104659-26-022286.md) |
| Net margin | % | [(91.6%)](/filings/0001558370-24-002178.md) | [(103.2%)](/filings/0001558370-25-002049.md) | [(153.6%)](/filings/0001104659-26-022286.md) | [(334.7%)](/filings/0001104659-26-022286.md) | [(229.8%)](/filings/0001104659-26-022286.md) |
| Diluted EPS | $ per share | [(0.82)](/filings/0001558370-24-002178.md) | [(1.25)](/filings/0001558370-25-002049.md) | [(2.30)](/filings/0001104659-26-022286.md) | [(2.68)](/filings/0001104659-26-022286.md) | [(1.42)](/filings/0001104659-26-022286.md) |
| Free cash flow | $m | [(530)](/filings/0001558370-24-002178.md) | [(1,265)](/filings/0001558370-25-002049.md) | [(1,772)](/filings/0001104659-26-022286.md) | [(1,016)](/filings/0001104659-26-022286.md) | [(647)](/filings/0001104659-26-022286.md) |

- Revenue. XBRL Revenue: us-gaap:Revenues.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:Revenues.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:Revenues.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/plug/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $498.7m | 184,032,469 |  | Added +31,939,194 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $179.3m | 66,175,149 |  | Added +6,571,343 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $170.6m | 62,937,084 |  | Added +386,646 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $105.0m | 38,763,529 |  | Added +2,214,427 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $99.1m | 36,557,253 |  | Added +1,848,436 |
| [UBS Group AG](/funds/1610520.md) | 2026-06-30 | $89.8m | 33,127,276 |  | Reduced −8,466,203 |
| [CITADEL ADVISORS LLC](/funds/1423053.md) | 2026-06-30 | $65.4m | 24,149,952 |  | Added +23,291,268 |
| [TWO SIGMA INVESTMENTS, LP](/funds/1179392.md) | 2026-06-30 | $61.3m | 22,610,124 |  | Reduced −4,785,812 |
| [D. E. Shaw & Co., Inc.](/funds/1009207.md) | 2026-06-30 | $59.5m | 21,943,120 |  | Reduced −27,015,380 |
| [DIMENSIONAL FUND ADVISORS LP](/funds/354204.md) | 2026-06-30 | $52.8m | 19,502,331 |  | Added +1,367,418 |

## Recent filings

[All 1,733 filings](/companies/plug/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-15 | 11:24 ET | [8-K](/filings/0001104659-26-115964.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001104659-26-115964 |
| 2026-09-23 | 21:00 ET | [8-K](/filings/0001104659-26-110021.md) | 5.02 Departure or appointment of officers or directors | 0001104659-26-110021 |
| 2026-08-10 | 21:06 ET | [10-Q](/filings/0001104659-26-093454.md) | Quarterly report, period 2026-06-30 | 0001104659-26-093454 |
| 2026-08-10 | 20:01 ET | [8-K](/filings/0001104659-26-093339.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001104659-26-093339 |
| 2026-07-13 | 11:15 ET | [8-K](/filings/0001104659-26-082854.md) | 1.01 Entry into a material agreement; 2.02 Results of operations; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001104659-26-082854 |
| 2026-06-15 | 20:05 ET | [8-K](/filings/0001104659-26-074022.md) | 5.07 Shareholder vote results; 8.01 Other events | 0001104659-26-074022 |
| 2026-06-11 | 12:45 ET | [8-K](/filings/0001104659-26-072652.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001104659-26-072652 |
| 2026-06-04 | 20:05 ET | [8-K](/filings/0001104659-26-070504.md) | 5.02 Departure or appointment of officers or directors | 0001104659-26-070504 |
| 2026-05-11 | 20:48 ET | [10-Q](/filings/0001104659-26-058712.md) | Quarterly report, period 2026-03-31 | 0001104659-26-058712 |
| 2026-05-11 | 20:01 ET | [8-K](/filings/0001104659-26-058615.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001104659-26-058615 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001104659-26-022286.md), filed Mar 2, 2026.

## Forecast league

Not in this season’s league. [This season’s league](/leagues.md)

## About the filer

- CIK: 1093691
- Tickers: PLUG
- Exchange: Nasdaq
- SIC code: 3620 Electrical Industrial Apparatus
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:33 ET. No prices; not investment advice.