What is Plug Power's gross profit?

Plug Power (PLUG) reported gross profit of -$21.61M in Q1 2026.

How has Plug Power's gross profit changed year-over-year?

Plug Power's gross profit increased by 70.7% year-over-year, from -$73.86M to -$21.61M.

What is the long-term trend for Plug Power's gross profit?

Over 4 years (2021 to 2025), Plug Power's gross profit has grown at a 9.6% compound annual growth rate (CAGR), from -$171.31M to -$247.49M.

What does gross profit mean?

Revenue minus cost of revenue — the profit available to cover operating expenses, representing the company's pricing power and production efficiency.

Plug Power PLUG Gross Profit

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Other financials

Income statement

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Revenue$163.5M+22.3%

Operating income-$109.5M+38.6%

Net income-$245.3M-24.7%

EPS (diluted)-$0.18+14.3%

Balance sheet

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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

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Operating cash flow-$150.0M-42.1%

CapEx$2.4M-94.0%

Free cash flow-$152.4M-4.4%

Valuation

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Market cap$3.98B+140%

Enterprise value$4.02B+135%

P/S5.4×+2.8×

Profitability

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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

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Return on equity-128.9%+150pp

Debt / equity0.4×+0.2×

Current ratio2.4×+0.4×

Where this comes from

Calculated from Plug Power’s reported figures.

$163.5Mtotal revenue−$185.1Mtotal cost of revenue=-$21.61M

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 gross profit?: Plug Power (PLUG) reported gross profit of -$21.61M in Q1 2026.
How has Plug Power's gross profit changed year-over-year?: Plug Power's gross profit increased by 70.7% year-over-year, from -$73.86M to -$21.61M.
What is the long-term trend for Plug Power's gross profit?: Over 4 years (2021 to 2025), Plug Power's gross profit has grown at a 9.6% compound annual growth rate (CAGR), from -$171.31M to -$247.49M.
What does gross profit mean?: Revenue minus cost of revenue — the profit available to cover operating expenses, representing the company's pricing power and production efficiency.