Plug Power Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	739.76	709.92	628.81	891.34	701.44	502.34
Revenue Growth (YoY)	15.19%	12.90%	-29.45%	27.07%	39.63%	-
Cost of Revenue	929.54	951.96	1,254	1,399	895.8	673.65
Gross Profit	-189.79	-242.04	-624.89	-507.79	-194.36	-171.31
Selling, General & Admin	368.94	379.57	376.11	422.47	363.93	179.85
Research & Development	52.72	57.96	77.23	113.75	99.58	64.76
Other Operating Expenses	786.98	787.82	941.62	299.52	21.69	21.4
Total Operating Expenses	1,209	1,225	1,395	835.73	485.19	266.01
Operating Income	-1,398	-1,467	-2,020	-1,344	-679.55	-437.32
Interest Income	18.12	19.43	30.72	55.83	37.26	4.04
Interest Expense	-70.99	-65.13	-46.62	-45.2	-39.04	-43.23
Other Non-Operating Income (Expense)	-190.88	-177.83	-71.84	-43.3	-41.9	0.35
Total Non-Operating Income (Expense)	-243.75	-223.53	-87.75	-32.67	-43.68	-38.84
Pretax Income	-1,742	-1,693	-2,108	-1,376	-723.17	-476.16
Provision for Income Taxes	-0.4	-0.36	2.69	7.36	-0.84	16.2
Net Income	-1,680	-1,632	-2,105	-1,369	-724.01	-459.97
Minority Interest in Earnings	-62.6	-62.07	-0.2	-	-	-
Net Income to Common	-1,680	-1,632	-2,105	-1,369	-724.01	-459.97
Shares Outstanding (Basic)	1,257	1,147	785	595	580	558
Shares Outstanding (Diluted)	1,257	1,147	785	595	580	558
Shares Change (YoY)	46.02%	46.07%	31.83%	2.72%	3.86%	57.33%
EPS (Basic)	-1.38	-1.42	-2.68	-2.30	-1.25	-0.82
EPS (Diluted)	-1.38	-1.42	-2.68	-2.30	-1.25	-0.82
Shares Outstanding	1,395	1,393	913.9	606.14	590.35	577.66
Free Cash Flow	-653.43	-647	-1,016	-1,772	-1,265	-502.34
Free Cash Flow Per Share	-0.52	-0.56	-1.29	-2.98	-2.18	-0.90
Gross Margin	-25.66%	-34.09%	-99.38%	-56.97%	-27.71%	-34.10%
Operating Margin	-189.04%	-206.70%	-321.21%	-150.73%	-96.88%	-87.06%
Profit Margin	-227.13%	-229.83%	-334.71%	-153.57%	-103.22%	-91.56%
FCF Margin	-88.33%	-91.14%	-161.53%	-198.78%	-180.38%	-100.00%
EBITDA	-1,361	-1,423	-1,935	-1,272	-627.19	-414.02
EBITDA Margin	-183.95%	-200.42%	-307.77%	-142.76%	-89.41%	-82.42%
EBIT	-1,398	-1,467	-2,020	-1,344	-679.55	-437.32
EBIT Margin	-189.04%	-206.70%	-321.21%	-150.73%	-96.88%	-87.06%
Effective Tax Rate	0.02%	0.02%	-0.13%	-0.54%	0.12%	-3.40%

Updated May 11, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q