PLUG POWER INC

For the period ended Mar 31, 2026. Filed May 11, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed May 11, 2026

PLUG$1.37-9.0%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Operations

(In thousands, except share and per share amounts)


	Three months ended
	March 31,
· 2026 · · 2025
Net revenue:
Sales of equipment, related infrastructure and other		$79,022	$63,506
Services performed on fuel cell systems and related infrastructure		21,970	16,874
Power purchase agreements		26,290	23,210
Fuel delivered to customers and related equipment		35,795	29,457
Other		436	627
Net revenue		163,513	133,674
Cost of revenue:
Sales of equipment, related infrastructure and other		85,327	74,556
Services performed on fuel cell systems and related infrastructure		14,421	14,462
(Benefit)/provision for loss contracts related to service		(7,814)	8,888
Power purchase agreements		40,148	49,932
Fuel delivered to customers and related equipment		52,892	59,354
Other		146	343
Total cost of revenue		185,120	207,535

Gross loss		(21,607)	(73,861)

Operating expenses:
Research and development		12,113	17,357
Selling, general and administrative		70,208	80,839
Restructuring		1,425	17,154
Impairment		3,856	1,064
Change in fair value of contingent consideration		280	(11,819)
Total operating expenses		87,882	104,595

Operating loss		(109,489)	(178,456)

Interest income		3,845	5,153
Interest expense		(17,351)	(11,486)
Other income, net		1,086	1,290
Gain/(loss) on extinguishment of convertible debt instruments and finance obligations		1,805	(3,652)
Change in fair value of convertible debt instruments		(70,782)	(7,338)
Change in fair value of warrant liabilities		(54,640)	—
Loss on equity method investments		(470)	(2,370)

Loss before income taxes		$(245,996)	$(196,859)

Income tax expense		(41)	—

Net loss		$(246,037)	$(196,859)

Net loss attributable to non-controlling interest		(733)	(203)

Net loss attributable to Plug Power Inc.		$(245,304)	$(196,656)

Net loss per share attributable to Plug Power Inc.:
Basic and diluted		$(0.18)	$(0.21)

Weighted average number of common stock outstanding		1,389,672,378	945,767,987

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.