PLUG POWER INC

For the period ended Sep 30, 2026. Filed Nov 9, 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.

Sep 30, 2026 · Filed Nov 9, 2026

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

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Condensed Consolidated Statements of Operations

(In thousands, except share and per share amounts)


· Three months ended September 30, · · Nine months ended September 30,
· 2026 · · 2025 · · 2026 · · 2025
Net revenue:
Sales of equipment, related infrastructure and other	$105,739	$96,773	$266,659	$259,452
Services performed on fuel cell systems and related infrastructure	29,013	19,742	80,827	52,983
Power purchase agreements	27,710	24,604	80,932	71,447
Fuel delivered to customers and related equipment	38,110	35,912	113,377	99,768
Other	30	24	619	1,049
Net revenue	200,602	177,055	542,414	484,699
Cost of revenue:
Sales of equipment, related infrastructure and other	106,118	171,501	271,771	363,337
Services performed on fuel cell systems and related infrastructure	20,154	20,083	56,299	44,541
Benefit for loss contracts related to service	(10,393)	(4,343)	(33,881)	(6,287)
Power purchase agreements	32,175	45,573	107,323	140,777
Fuel delivered to customers and related equipment	57,889	64,392	169,276	189,382
Other	17	14	266	440
Total cost of revenue	205,960	297,220	571,054	732,190

Gross loss	(5,358)	(120,165)	(28,640)	(247,491)

Operating expenses:
Research and development	12,552	16,118	38,085	45,668
Selling, general and administrative	68,344	110,592	167,819	279,324
Gain on sale of property, plant, and equipment	(25,787)	—	(25,787)	—
Restructuring	—	5,519	1,609	25,637
Impairment	16,631	97,524	39,852	119,187
Change in fair value of contingent consideration	(1,845)	(1,129)	(1,368)	(13,116)
Total operating expenses	69,895	228,624	220,210	456,700

Operating loss	(75,253)	(348,789)	(248,850)	(704,191)

Interest income	2,065	4,316	8,502	15,314
Interest expense	(19,287)	(16,461)	(53,527)	(43,885)
Other (expense)/income, net	(1,087)	3,502	(7,200)	8,609
Gain/(loss) on extinguishment of convertible debt instruments and finance obligations	179	—	1,894	(9,127)
Change in fair value of convertible debt instruments	108,284	—	(36,733)	1,902
Change in fair value of debt	—	(2,719)	—	(6,127)
Change in fair value of warrant liabilities	84,166	—	235	—
Gain/(loss) on equity method investments and non-marketable securities	14	(3,262)	(1,131)	(51,482)

Income/(loss) before income taxes	$99,081	$(363,413)	$(336,810)	$(788,987)

Income tax expense	(44)	(92)	(292)	(104)

Net income/(loss)	$99,037	$(363,505)	$(337,102)	$(789,091)

Net loss attributable to non-controlling interest	(729)	(1,636)	(3,357)	(3,467)

Net income/(loss) attributable to Plug Power Inc.	$99,766	$(361,869)	$(333,745)	$(785,624)

Earnings/(loss) per share attributable to Plug Power Inc.:
Basic	$0.07	$(0.31)	$(0.24)	$(0.73)
Diluted	$(0.00)	$(0.31)	$(0.24)	$(0.73)

Weighted average number of common stock outstanding:
Basic	1,393,479,873	1,158,516,229	1,391,468,920	1,077,749,797
Diluted	1,537,229,859	1,158,516,229	1,391,468,920	1,077,749,797

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.