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10-K

Annual Report

PLUG POWER INC PLUG

0001104659-26-022286

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Filed
Mar 2, 2026 12:00 AM ET
Period of report

On SEC.gov

Financials in this filing

Metric Period Value
Shares Outstanding FY 2025 · Feb 17, 2026 1.39B sh
Shares Diluted FY 2025 · Dec 31, 2025 1.15B sh
Shares Diluted FY 2025 · Dec 31, 2024 785.02M sh
Shares Diluted FY 2025 · Dec 31, 2023 595.47M sh
Capex FY 2025 · Dec 31, 2025 $111.16M
Capex FY 2025 · Dec 31, 2024 $287.1M
Capex FY 2025 · Dec 31, 2023 $665.21M
Operating Cash Flow FY 2025 · Dec 31, 2025 −$535.84M
Operating Cash Flow FY 2025 · Dec 31, 2024 −$728.64M
Operating Cash Flow FY 2025 · Dec 31, 2023 −$1.11B
Cash And Equivalents FY 2025 · Dec 31, 2025 $368.54M
Cash And Equivalents FY 2025 · Dec 31, 2024 $205.69M
Stockholders Equity FY 2025 · Dec 31, 2025 $978.07M
Stockholders Equity FY 2025 · Dec 31, 2024 $1.73B
Current Liabilities FY 2025 · Dec 31, 2025 $610.59M
Current Liabilities FY 2025 · Dec 31, 2024 $748.49M
Total Liabilities FY 2025 · Dec 31, 2025 $1.59B
Total Liabilities FY 2025 · Dec 31, 2024 $1.8B
Current Assets FY 2025 · Dec 31, 2025 $1.41B
Current Assets FY 2025 · Dec 31, 2024 $1.48B
Total Assets FY 2025 · Dec 31, 2025 $2.59B
Total Assets FY 2025 · Dec 31, 2024 $3.6B
Eps Diluted FY 2025 · Dec 31, 2025 −$1.42
Eps Diluted FY 2025 · Dec 31, 2024 −$2.68
Eps Diluted FY 2025 · Dec 31, 2023 −$2.30
Eps Basic FY 2025 · Dec 31, 2025 −$1.42
Eps Basic FY 2025 · Dec 31, 2024 −$2.68
Eps Basic FY 2025 · Dec 31, 2023 −$2.30
Sga Expense FY 2025 · Dec 31, 2025 $379.57M
Sga Expense FY 2025 · Dec 31, 2024 $376.11M
Sga Expense FY 2025 · Dec 31, 2023 $422.47M
Rd Expense FY 2025 · Dec 31, 2025 $57.96M
Rd Expense FY 2025 · Dec 31, 2024 $77.23M
Rd Expense FY 2025 · Dec 31, 2023 $113.75M
Net Income FY 2025 · Dec 31, 2025 −$1.63B
Net Income FY 2025 · Dec 31, 2024 −$2.1B
Net Income FY 2025 · Dec 31, 2023 −$1.37B
Operating Income FY 2025 · Dec 31, 2025 −$1.47B
Operating Income FY 2025 · Dec 31, 2024 −$2.02B
Operating Income FY 2025 · Dec 31, 2023 −$1.34B
Gross Profit FY 2025 · Dec 31, 2025 −$242.04M
Gross Profit FY 2025 · Dec 31, 2024 −$624.89M
Gross Profit FY 2025 · Dec 31, 2023 −$507.79M
Cost Of Revenue FY 2025 · Dec 31, 2025 $951.96M
Cost Of Revenue FY 2025 · Dec 31, 2024 $1.25B
Cost Of Revenue FY 2025 · Dec 31, 2023 $1.4B
Revenue FY 2025 · Dec 31, 2025 $709.92M
Revenue FY 2025 · Dec 31, 2024 $628.81M
Revenue FY 2025 · Dec 31, 2023 $891.34M