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10-Q

Quarterly Report

PLUG POWER INC PLUG

0001104659-25-109279

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Filed
Nov 10, 2025 12:00 AM ET
Period of report

On SEC.gov

Financials in this filing

Metric Period Value
Shares Outstanding Q3 2025 · Nov 5, 2025 1.39B sh
Shares Diluted Q3 2025 · Sep 30, 2025 1.16B sh
Shares Diluted Q3 2025 · Sep 30, 2025 1.08B sh
Shares Diluted Q3 2025 · Sep 30, 2024 858.44M sh
Shares Diluted Q3 2025 · Sep 30, 2024 745.83M sh
Capex Q3 2025 · Sep 30, 2025 $106.77M
Capex Q3 2025 · Sep 30, 2024 $253.15M
Operating Cash Flow Q3 2025 · Sep 30, 2025 −$387.19M
Operating Cash Flow Q3 2025 · Sep 30, 2024 −$597.4M
Cash And Equivalents Q3 2025 · Sep 30, 2025 $165.9M
Cash And Equivalents Q3 2025 · Dec 31, 2024 $205.69M
Stockholders Equity Q3 2025 · Sep 30, 2025 $1.42B
Stockholders Equity Q3 2025 · Dec 31, 2024 $1.73B
Current Liabilities Q3 2025 · Sep 30, 2025 $902.52M
Current Liabilities Q3 2025 · Dec 31, 2024 $748.49M
Total Liabilities Q3 2025 · Sep 30, 2025 $1.61B
Total Liabilities Q3 2025 · Dec 31, 2024 $1.8B
Current Assets Q3 2025 · Sep 30, 2025 $1.19B
Current Assets Q3 2025 · Dec 31, 2024 $1.48B
Total Assets Q3 2025 · Sep 30, 2025 $3.1B
Total Assets Q3 2025 · Dec 31, 2024 $3.6B
Eps Diluted Q3 2025 · Sep 30, 2025 −$0.31
Eps Diluted Q3 2025 · Sep 30, 2025 −$0.73
Eps Diluted Q3 2025 · Sep 30, 2024 −$0.25
Eps Diluted Q3 2025 · Sep 30, 2024 −$1.03
Eps Basic Q3 2025 · Sep 30, 2025 −$0.31
Eps Basic Q3 2025 · Sep 30, 2025 −$0.73
Eps Basic Q3 2025 · Sep 30, 2024 −$0.25
Eps Basic Q3 2025 · Sep 30, 2024 −$1.03
Sga Expense Q3 2025 · Sep 30, 2025 $110.59M
Sga Expense Q3 2025 · Sep 30, 2025 $279.32M
Sga Expense Q3 2025 · Sep 30, 2024 $91.59M
Sga Expense Q3 2025 · Sep 30, 2024 $254.69M
Rd Expense Q3 2025 · Sep 30, 2025 $16.12M
Rd Expense Q3 2025 · Sep 30, 2025 $45.67M
Rd Expense Q3 2025 · Sep 30, 2024 $19.71M
Rd Expense Q3 2025 · Sep 30, 2024 $63.93M
Net Income Q3 2025 · Sep 30, 2025 −$361.87M
Net Income Q3 2025 · Sep 30, 2025 −$785.62M
Net Income Q3 2025 · Sep 30, 2024 −$211.17M
Net Income Q3 2025 · Sep 30, 2024 −$769.28M
Operating Income Q3 2025 · Sep 30, 2025 −$348.79M
Operating Income Q3 2025 · Sep 30, 2025 −$704.19M
Operating Income Q3 2025 · Sep 30, 2024 −$216.17M
Operating Income Q3 2025 · Sep 30, 2024 −$720.25M
Gross Profit Q3 2025 · Sep 30, 2025 −$120.17M
Gross Profit Q3 2025 · Sep 30, 2025 −$247.49M
Gross Profit Q3 2025 · Sep 30, 2024 −$100.03M
Gross Profit Q3 2025 · Sep 30, 2024 −$390.36M
Cost Of Revenue Q3 2025 · Sep 30, 2025 $297.22M
Cost Of Revenue Q3 2025 · Sep 30, 2025 $732.19M
Cost Of Revenue Q3 2025 · Sep 30, 2024 $273.76M
Cost Of Revenue Q3 2025 · Sep 30, 2024 $827.7M
Revenue Q3 2025 · Sep 30, 2025 $177.06M
Revenue Q3 2025 · Sep 30, 2025 $484.7M
Revenue Q3 2025 · Sep 30, 2024 $173.73M
Revenue Q3 2025 · Sep 30, 2024 $437.34M