Plug Power financials
$1.91+2.69%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 | FY17 Dec 31 | FY16 Dec 31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $709.9M | $628.8M | $891.3M | $701.4M | $502.3M | -$93.2M | $230.0M | $174.2M | $100.2M | $82.8M |
| Gross profit | -$242.0M | -$624.9M | -$507.8M | -$194.4M | -$171.3M | -$469.4M | $10.6M | -$26.0M | -$28.1M | $3.9M |
| Gross margin | −34.1% | −99.4% | −57.0% | −27.7% | −34.1% | 503.5% | 4.6% | −14.9% | −28.0% | 4.8% |
| Operating income | -$1.47B | -$2.02B | -$1.34B | -$679.5M | -$437.3M | -$584.2M | -$47.6M | -$76.4M | -$101.8M | -$51.5M |
| Net income | -$1.63B | -$2.10B | -$1.37B | -$724.0M | -$460.0M | -$596.2M | -$85.6M | -$85.7M | -$130.2M | -$57.6M |
| Net margin | −229.8% | −334.7% | −153.6% | −103.2% | −91.6% | 639.4% | −37.2% | −49.2% | −130.0% | −69.5% |
| Diluted EPS | $-1.42 | $-2.68 | $-2.30 | $-1.25 | $-0.82 | $-1.68 | $-0.36 | $-0.39 | $-0.60 | $-0.32 |
| EBITDA | -$611.5M | -$977.8M | -$1.00B | -$657.9M | -$392.6M | -$136.0M | -$28.5M | -$53.7M | -$55.6M | -$46.3M |
| Operating cash flow | -$535.8M | -$728.6M | -$1.11B | -$828.6M | -$358.2M | -$155.5M | -$53.3M | -$58.4M | -$60.2M | -$29.6M |
| Free cash flow | -$661.5M | -$1.06B | -$1.80B | -$1.29B | -$550.5M | -$203.7M | -$65.5M | -$77.0M | -$104.5M | -$87.7M |
| Diluted shares | 1,146.7M | 785.0M | 595.5M | 579.7M | 558.2M | 354.8M | 237.2M | 218.9M | 216.3M | 180.6M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $368.5M | $205.7M | $135.0M | $690.6M | $2.48B | $1.31B |
| Short-term investments | $0.00 | $0.00 | $0.00 | $1.47B | $1.39B | — |
| Total debt | $730.1M | $762.4M | $613.2M | $578.4M | $561.7M | $266.4M |
| Total assets | $2.59B | $3.60B | $4.90B | $5.76B | $5.95B | $2.25B |
| Total liabilities | $1.59B | $1.80B | $2.00B | $1.70B | $1.34B | $784.4M |
| Shareholders' equity | $1.00B | $1.81B | $2.90B | $4.06B | $4.61B | $1.47B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology