PLUG POWER INC

For the period ended Jun 30, 2026. Filed Aug 10, 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.

Jun 30, 2026 · Filed Aug 10, 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 June 30, · · Six months ended June 30,
· 2026 · · 2025 · · 2026 · · 2025
Net revenue:
Sales of equipment, related infrastructure and other	$81,898	$99,173	$160,920	$162,679
Services performed on fuel cell systems and related infrastructure	29,844	16,367	51,814	33,241
Power purchase agreements	26,932	23,633	53,222	46,843
Fuel delivered to customers and related equipment	39,472	34,399	75,267	63,856
Other	153	398	589	1,025
Net revenue	178,299	173,970	341,812	307,644
Cost of revenue:
Sales of equipment, related infrastructure and other	80,326	117,280	165,653	191,836
Services performed on fuel cell systems and related infrastructure	21,724	9,996	36,145	24,458
Benefit for loss contracts related to service	(15,674)	(10,832)	(23,488)	(1,944)
Power purchase agreements	35,000	45,272	75,148	95,204
Fuel delivered to customers and related equipment	58,495	65,636	111,387	124,990
Other	103	83	249	426
Total cost of revenue	179,974	227,435	365,094	434,970

Gross loss	(1,675)	(53,465)	(23,282)	(127,326)

Operating expenses:
Research and development	13,420	12,193	25,533	29,550
Selling, general and administrative	29,267	87,893	99,475	168,732
Restructuring	184	2,964	1,609	20,118
Impairment	19,365	20,599	23,221	21,663
Change in fair value of contingent consideration	197	(168)	477	(11,987)
Total operating expenses	62,433	123,481	150,315	228,076

Operating loss	(64,108)	(176,946)	(173,597)	(355,402)

Interest income	2,592	5,845	6,437	10,998
Interest expense	(16,889)	(15,938)	(34,240)	(27,424)
Other (expense)/income, net	(7,199)	3,817	(6,113)	5,107
(Loss)/gain on extinguishment of convertible debt instruments and finance obligations	(90)	(5,475)	1,715	(9,127)
Change in fair value of convertible debt instruments	(74,235)	9,240	(145,017)	1,902
Change in fair value of debt	—	(3,408)	—	(3,408)
Change in fair value of warrant liabilities	(29,291)	—	(83,931)	—
Loss on equity method investments	(675)	(45,850)	(1,145)	(48,220)

Loss before income taxes	$(189,895)	$(228,715)	$(435,891)	$(425,574)

Income tax expense	(207)	(12)	(248)	(12)

Net loss	$(190,102)	$(228,727)	$(436,139)	$(425,586)

Net loss attributable to non-controlling interest	(1,895)	(1,628)	(2,628)	(1,831)

Net loss attributable to Plug Power Inc.	$(188,207)	$(227,099)	$(433,511)	$(423,755)

Net loss per share attributable to Plug Power Inc.:
Basic and diluted	$(0.14)	$(0.20)	$(0.31)	$(0.41)

Weighted average number of common stock outstanding	1,391,212,670	1,126,627,283	1,390,446,779	1,036,697,246

ContentsView on SEC.gov

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