# Plug Power Inc: financial statements, quarterly

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)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/plug/financials.md?period=annual).

## Income statement

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | 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 | [199](/filings/0001558370-24-015312.md) | [222 d](/filings/0001104659-26-022286.md) | [120](/filings/0001558370-25-007412.md) | [143](/filings/0001558370-25-011072.md) | [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) |
| Cost of revenue | $m | [337](/filings/0001558370-24-015312.md) | [444 d](/filings/0001104659-26-022286.md) | [279](/filings/0001558370-25-007412.md) | [275](/filings/0001558370-25-011072.md) | [274](/filings/0001104659-25-109279.md) | [426 d](/filings/0001104659-26-022286.md) | [208](/filings/0001104659-26-058712.md) | [227](/filings/0001104659-26-093454.md) | [297](/filings/0001104659-25-109279.md) | [220 d](/filings/0001104659-26-022286.md) | [185](/filings/0001104659-26-058712.md) | [180](/filings/0001104659-26-093454.md) |
| Gross profit | $m | [(138)](/filings/0001558370-24-015312.md) | [(222) d](/filings/0001104659-26-022286.md) | [(159)](/filings/0001558370-25-007412.md) | [(131)](/filings/0001558370-25-011072.md) | [(100)](/filings/0001104659-25-109279.md) | [(235) d](/filings/0001104659-26-022286.md) | [(73.9)](/filings/0001104659-26-058712.md) | [(53.5)](/filings/0001104659-26-093454.md) | [(120)](/filings/0001104659-25-109279.md) | [5.5 d](/filings/0001104659-26-022286.md) | [(21.6)](/filings/0001104659-26-058712.md) | [(1.7)](/filings/0001104659-26-093454.md) |
| Research and development | $m | [27.7](/filings/0001558370-24-015312.md) | [30.3 d](/filings/0001104659-26-022286.md) | [25.3](/filings/0001558370-25-007412.md) | [18.9](/filings/0001558370-25-011072.md) | [19.7](/filings/0001104659-25-109279.md) | [13.3 d](/filings/0001104659-26-022286.md) | [17.4](/filings/0001104659-26-058712.md) | [12.2](/filings/0001104659-26-093454.md) | [16.1](/filings/0001104659-25-109279.md) | [12.3 d](/filings/0001104659-26-022286.md) | [12.1](/filings/0001104659-26-058712.md) | [13.4](/filings/0001104659-26-093454.md) |
| Selling, general and administrative | $m | [105](/filings/0001558370-24-015312.md) | [112 d](/filings/0001104659-26-022286.md) | [78.0](/filings/0001558370-25-007412.md) | [85.1](/filings/0001558370-25-011072.md) | [91.6](/filings/0001104659-25-109279.md) | [121 d](/filings/0001104659-26-022286.md) | [80.8](/filings/0001104659-26-058712.md) | [87.9](/filings/0001104659-26-093454.md) | [111](/filings/0001104659-25-109279.md) | [100 d](/filings/0001104659-26-022286.md) | [70.2](/filings/0001104659-26-058712.md) | [29.3](/filings/0001104659-26-093454.md) |
| Operating income | $m | [(274)](/filings/0001558370-24-015312.md) | [(626) d](/filings/0001104659-26-022286.md) | [(259)](/filings/0001558370-25-007412.md) | [(245)](/filings/0001558370-25-011072.md) | [(216)](/filings/0001104659-25-109279.md) | [(1,300) d](/filings/0001104659-26-022286.md) | [(178)](/filings/0001104659-26-058712.md) | [(177)](/filings/0001104659-26-093454.md) | [(349)](/filings/0001104659-25-109279.md) | [(763) d](/filings/0001104659-26-022286.md) | [(109)](/filings/0001104659-26-058712.md) | [(64.1)](/filings/0001104659-26-093454.md) |
| Interest expense | $m | [11.8](/filings/0001558370-24-015312.md) | [11.5 d](/filings/0001104659-26-022286.md) | [11.3](/filings/0001558370-25-007412.md) | [9.5](/filings/0001558370-25-011072.md) | [9.1](/filings/0001104659-25-109279.md) | [16.6 d](/filings/0001104659-26-022286.md) | [11.5](/filings/0001104659-26-058712.md) | [15.9](/filings/0001104659-26-093454.md) | [16.5](/filings/0001104659-25-109279.md) | [21.2 d](/filings/0001104659-26-022286.md) | [17.4](/filings/0001104659-26-058712.md) | [16.9](/filings/0001104659-26-093454.md) |
| Income tax | $m | [(4.7)](/filings/0001558370-24-015312.md) | [(0.4) d](/filings/0001104659-26-022286.md) | [0.2](/filings/0001558370-25-007412.md) | [(0.4)](/filings/0001558370-25-011072.md) | [0.1](/filings/0001104659-25-109279.md) | [(2.6) d](/filings/0001104659-26-022286.md) | [0.0](/filings/0001104659-26-058712.md) | [0.0](/filings/0001104659-26-093454.md) | [0.1](/filings/0001104659-25-109279.md) | [0.3 d](/filings/0001104659-26-022286.md) | [0.0](/filings/0001104659-26-058712.md) | [0.2](/filings/0001104659-26-093454.md) |
| Net income | $m | [(283)](/filings/0001558370-24-015312.md) | [(642) d](/filings/0001104659-26-022286.md) | [(296)](/filings/0001558370-25-007412.md) | [(262)](/filings/0001558370-25-011072.md) | [(211)](/filings/0001104659-25-109279.md) | [(1,335) d](/filings/0001104659-26-022286.md) | [(197)](/filings/0001104659-26-058712.md) | [(227)](/filings/0001104659-26-093454.md) | [(362)](/filings/0001104659-25-109279.md) | [(846) d](/filings/0001104659-26-022286.md) | [(245)](/filings/0001104659-26-058712.md) | [(188)](/filings/0001104659-26-093454.md) |
| Diluted EPS | $ per share | [(0.47)](/filings/0001558370-24-015312.md) | not reported | [(0.46)](/filings/0001558370-25-007412.md) | [(0.36)](/filings/0001558370-25-011072.md) | [(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) |
| Basic EPS | $ per share | [(0.47)](/filings/0001558370-24-015312.md) | not reported | [(0.46)](/filings/0001558370-25-007412.md) | [(0.36)](/filings/0001558370-25-011072.md) | [(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) |

- Revenue: us-gaap:Revenues
- Cost of revenue: us-gaap:CostOfRevenue
- Gross profit: us-gaap:GrossProfit
- Research and development: us-gaap:ResearchAndDevelopmentExpense
- Selling, general and administrative: us-gaap:SellingGeneralAndAdministrativeExpense
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: us-gaap:InterestExpense
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | Q3 FY2023 (2023-09-30) | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $m | [111](/filings/0001558370-23-018601.md) | [135](/filings/0001558370-25-002049.md) | [173](/filings/0001558370-24-007592.md) | [62.4](/filings/0001558370-24-011593.md) | [93.9](/filings/0001558370-24-015312.md) | [206](/filings/0001104659-26-022286.md) | [296](/filings/0001558370-25-007412.md) | [141](/filings/0001558370-25-011072.md) | [166](/filings/0001104659-25-109279.md) | [369](/filings/0001104659-26-093454.md) | [223](/filings/0001104659-26-058712.md) | [162](/filings/0001104659-26-093454.md) |
| Current assets | $m | [2,240](/filings/0001558370-23-018601.md) | [1,787](/filings/0001558370-25-002049.md) | [1,767](/filings/0001558370-24-007592.md) | [1,672](/filings/0001558370-24-011593.md) | [1,634](/filings/0001558370-24-015312.md) | [1,477](/filings/0001104659-26-022286.md) | [1,534](/filings/0001558370-25-007412.md) | [1,330](/filings/0001558370-25-011072.md) | [1,191](/filings/0001104659-25-109279.md) | [1,410](/filings/0001104659-26-093454.md) | [1,275](/filings/0001104659-26-058712.md) | [1,146](/filings/0001104659-26-093454.md) |
| Total assets | $m | [5,452](/filings/0001558370-23-018601.md) | [4,903](/filings/0001558370-25-002049.md) | [4,847](/filings/0001558370-24-007592.md) | [4,780](/filings/0001558370-24-011593.md) | [4,725](/filings/0001558370-24-015312.md) | [3,603](/filings/0001104659-26-022286.md) | [3,633](/filings/0001558370-25-007412.md) | [3,354](/filings/0001558370-25-011072.md) | [3,105](/filings/0001104659-25-109279.md) | [2,595](/filings/0001104659-26-093454.md) | [2,368](/filings/0001104659-26-058712.md) | [2,193](/filings/0001104659-26-093454.md) |
| Current liabilities | $m | [931](/filings/0001558370-23-018601.md) | [965](/filings/0001558370-25-002049.md) | [911](/filings/0001558370-24-007592.md) | [810](/filings/0001558370-24-011593.md) | [787](/filings/0001558370-24-015312.md) | [748](/filings/0001104659-26-022286.md) | [788](/filings/0001558370-25-007412.md) | [836](/filings/0001558370-25-011072.md) | [903](/filings/0001104659-25-109279.md) | [611](/filings/0001104659-26-093454.md) | [541](/filings/0001104659-26-058712.md) | [494](/filings/0001104659-26-093454.md) |
| Total liabilities | $m | [1,943](/filings/0001558370-23-018601.md) | [2,005](/filings/0001558370-25-002049.md) | [1,918](/filings/0001558370-24-007592.md) | [1,791](/filings/0001558370-24-011593.md) | [1,696](/filings/0001558370-24-015312.md) | [1,795](/filings/0001104659-26-022286.md) | [1,701](/filings/0001558370-25-007412.md) | [1,590](/filings/0001558370-25-011072.md) | [1,606](/filings/0001104659-25-109279.md) | [1,591](/filings/0001104659-26-093454.md) | [1,594](/filings/0001104659-26-058712.md) | [1,605](/filings/0001104659-26-093454.md) |
| Long-term debt | $m | [4.1](/filings/0001558370-23-018601.md) | [3.9](/filings/0001558370-24-002178.md) | [3.8](/filings/0001558370-24-007592.md) | [3.7](/filings/0001558370-24-011593.md) | [3.9](/filings/0001558370-24-015312.md) | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Current portion of debt | $m | [2.6](/filings/0001558370-23-018601.md) | [2.7](/filings/0001558370-24-011593.md) | [2.8](/filings/0001558370-24-007592.md) | [3.0](/filings/0001558370-24-011593.md) | not reported | [0.2](/filings/0001558370-25-002049.md) | not reported | not reported | not reported | not reported | not reported | not reported |
| Short-term borrowings | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Shareholders' equity | $m | [3,509](/filings/0001558370-24-015312.md) | [2,898](/filings/0001558370-25-002049.md) | [2,929](/filings/0001558370-24-015312.md) | [2,989](/filings/0001558370-24-015312.md) | [3,029](/filings/0001558370-24-015312.md) | [1,734](/filings/0001104659-26-022286.md) | [1,857](/filings/0001558370-25-007412.md) | [1,681](/filings/0001558370-25-011072.md) | [1,417](/filings/0001104659-25-109279.md) | [978](/filings/0001104659-26-093454.md) | [750](/filings/0001104659-26-058712.md) | [582](/filings/0001104659-26-093454.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Total liabilities: us-gaap:Liabilities
- Long-term debt: us-gaap:LongTermDebt
- Current portion of debt: us-gaap:LongTermDebtCurrent
- Short-term borrowings: not reported
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | 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) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [(239) d](/filings/0001558370-24-015312.md) | [(243) d](/filings/0001104659-26-022286.md) | [(168)](/filings/0001558370-25-007412.md) | [(255) d](/filings/0001558370-25-011072.md) | [(175) d](/filings/0001104659-25-109279.md) | [(131) d](/filings/0001104659-26-022286.md) | [(106)](/filings/0001104659-26-058712.md) | [(192) d](/filings/0001104659-26-093454.md) | [(89.8) d](/filings/0001104659-25-109279.md) | [(149) d](/filings/0001104659-26-022286.md) | [(150)](/filings/0001104659-26-058712.md) | [(94.1) d](/filings/0001104659-26-093454.md) |
| Capital expenditure | $m | [165 d](/filings/0001558370-24-015312.md) | [181 d](/filings/0001104659-26-022286.md) | [92.6](/filings/0001558370-25-007412.md) | [101 d](/filings/0001558370-25-011072.md) | [59.2 d](/filings/0001104659-25-109279.md) | [34.0 d](/filings/0001104659-26-022286.md) | [40.5](/filings/0001104659-26-058712.md) | [38.6 d](/filings/0001104659-26-093454.md) | [27.7 d](/filings/0001104659-25-109279.md) | [4.4 d](/filings/0001104659-26-022286.md) | [2.4](/filings/0001104659-26-058712.md) | [6.3 d](/filings/0001104659-26-093454.md) |
| Share repurchases | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
- Share repurchases: not reported

## Shares

| Line item | Unit | Q3 FY2022 (2022-09-30) | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [578](/filings/0001558370-23-018601.md) | [589](/filings/0001558370-24-007592.md) | [598](/filings/0001558370-24-011593.md) | [599](/filings/0001558370-24-015312.md) | [641](/filings/0001558370-25-007412.md) | [737](/filings/0001558370-25-011072.md) | [858](/filings/0001104659-25-109279.md) | [946](/filings/0001104659-26-058712.md) | [1,127](/filings/0001104659-26-093454.md) | [1,159](/filings/0001104659-25-109279.md) | [1,390](/filings/0001104659-26-058712.md) | [1,391](/filings/0001104659-26-093454.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 1,397,195,278 at 2026-08-06, from the cover of the [10-Q filed 2026-08-10](/filings/0001104659-26-093454.md) (dei:EntityCommonStockSharesOutstanding).

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