What is Plug Power's deferred revenue?

Plug Power (PLUG) reported deferred revenue of $29.62M in Q1 2026.

How has Plug Power's deferred revenue changed year-over-year?

Plug Power's deferred revenue decreased by 31.7% year-over-year, from $43.36M to $29.62M.

What is the long-term trend for Plug Power's deferred revenue?

Over 5 years (2020 to 2025), Plug Power's deferred revenue has grown at a 8.0% compound annual growth rate (CAGR), from $23.28M to $34.2M.

What does deferred revenue mean?

Payments received from customers for goods or services to be delivered within one year — recognized as revenue as performance obligations are satisfied.

Plug Power PLUG Deferred Revenue

Deferred Revenue at other companies

Chart IndustriesGTLS

$285M-12.4%

PhiniaPHIN

$10M—

KBRKBR

$330M-0.9%

Fluence Energy, Inc.FLNC

$5.5B+7.8%

CaterpillarCAT

$4.38B+48.5%

EnerSysENS

——

Segments

By product

See full

Power Purchase Agreements$250.27M-26.6%

Services Performed On Fuel Cell Systems And Related Infrastructure$146.92M+14.3%

Sale Of Electrolyzers$95.31M-57.4%

Sales Of Fuel Cell Systems$73.41M+115%

Fuel Delivered To Customers And Related Equipment$60.6M-8.3%

Sale Of Hydrogen Installations And Other Infrastructure$58.43M—

Other financials

Income statement

See full

Revenue$163.5M+22.3%

Gross profit-$21.6M+70.7%

Operating income-$109.5M+38.6%

Net income-$245.3M-24.7%

EPS (diluted)-$0.18+14.3%

Balance sheet

See full

Cash & equivalents$223.2M-24.6%

Total debt$263.3M-22.5%

Total equity$749.8M-59.6%

Total assets$2.4B-34.8%

Cash flow

See full

Operating cash flow-$150.0M-42.1%

CapEx$2.4M-94.0%

Free cash flow-$152.4M-4.4%

Valuation

See full

Market cap$3.78B+140%

Profitability

See full

Gross margin-26.4%-10.7pp

Operating margin-189%-51.4pp

Net margin-227.1%-48.7pp

FCF margin-88.3%-23.9pp

Returns & leverage

See full

Return on equity-128.9%+150pp

Debt / equity0.4×+0.2×

Current ratio2.4×+0.4×

Where this comes from

Reported directly by Plug Power in its filing.

Tagged under the XBRL concept us-gaap:DeferredRevenueNoncurrent.

The official record: Plug Power’s 10-Q, filed May 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Plug Power's deferred revenue?: Plug Power (PLUG) reported deferred revenue of $29.62M in Q1 2026.
How has Plug Power's deferred revenue changed year-over-year?: Plug Power's deferred revenue decreased by 31.7% year-over-year, from $43.36M to $29.62M.
What is the long-term trend for Plug Power's deferred revenue?: Over 5 years (2020 to 2025), Plug Power's deferred revenue has grown at a 8.0% compound annual growth rate (CAGR), from $23.28M to $34.2M.
What does deferred revenue mean?: Payments received from customers for goods or services to be delivered within one year — recognized as revenue as performance obligations are satisfied.