Plug Power Revenue by Segment

Period Ending	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024
Fuel Cell System Sales	371.08M	397.56M	407.93M	385.55M	390.34M	420.15M	458.14M	597.63M
Fuel Cell System Sales Growth	-4.93%	-5.38%	-10.96%	-35.49%	-45.13%	-41.60%	-37.43%	-5.46%
Fuel Delivered and Related Equipment	133.41M	119.69M	113.57M	109.05M	97.88M	96.82M	86.40M	74.39M
Fuel Delivered and Related Equipment Growth	36.30%	23.62%	31.44%	46.60%	47.76%	50.58%	50.74%	37.99%
Power Purchase Agreements	107.57M	90.85M	86.71M	82.75M	77.84M	78.03M	77.64M	74.10M
Power Purchase Agreements Growth	38.19%	16.43%	11.68%	11.67%	22.14%	28.79%	55.15%	64.36%
Fuel Cell System Services	94.46M	64.95M	59.35M	56.02M	52.17M	52.21M	47.35M	43.02M
Fuel Cell System Services Growth	81.07%	24.40%	25.34%	30.22%	33.45%	41.49%	31.47%	19.04%
Other	3.39M	3.12M	5.29M	8.86M	10.59M	12.30M	14.96M	12.18M
Other Growth	-67.95%	-74.62%	-64.65%	-27.26%	-2.32%	40.40%	253.59%	236.94%

Operating Expense Breakdown

Period Ending	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024
Impairment	785.44M	1.06B	966.76M	950.10M	949.32M	16.89M	13.37M	19.42M
Impairment Growth	-17.26%	6,177.96%	7,132.96%	4,793.61%	4,596.32%	-0.39%	-17.93%	208.13%
Selling, General, and Administrative	379.57M	400.75M	381.74M	378.99M	376.11M	366.54M	380.40M	396.41M
Selling, General, and Administrative Growth	0.92%	9.33%	0.35%	-4.39%	-10.97%	-11.06%	-3.02%	2.42%
Research and Development	57.96M	58.96M	62.56M	69.30M	77.23M	94.24M	102.18M	112.49M
Research and Development Growth	-24.95%	-37.43%	-38.78%	-38.39%	-32.11%	-15.02%	-8.23%	6.47%
Change in Value of Contingent Consideration	-23.49M	-23.68M	-22.40M	-18.47M	-15.85M	-1.58M	515.00K	12.06M
Change in Value of Contingent Consideration Growth	-	-	-	-	-	-	-98.81%	-47.07%

Source: Business metrics provided by TipRanks and sourced from official company press releases and documents.