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Plug Power PLUG Net Income

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Segments

By segment

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Single Reportable-$245.3M-24.7%

Other financials

Income statement

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Revenue$163.5M+22.3%
Gross profit-$21.6M+70.7%
Operating income-$109.5M+38.6%
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$2.89B+72.4%
Enterprise value$2.93B+56.5%
P/S3.9×+1.4×

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

Reported directly by Plug Power in its filing.

Tagged under the XBRL concept us-gaap:NetIncomeLoss.

The source filing: Plug Power’s 10-Q, filed May 11, 2026.

Filed
May 11, 2026, 4:48 PM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0001104659-26-058712
Line itemThree months ended / March 31, 2026Three months ended / March 31, 2025
Loss before income taxes$(245,996)$(196,859)
Income tax expense(41)
Net loss$(246,037)$(196,859)
Net loss attributable to non-controlling interest(733)(203)
Net loss attributable to Plug Power Inc.$(245,304)$(196,656)
Net loss per share attributable to Plug Power Inc.:
Basic and diluted$(0.18)$(0.21)
Weighted average number of common stock outstanding1,389,672,378945,767,987

Item 1 — Interim Condensed Consolidated Financial Statements (Unaudited)

FAQ

What is Plug Power's net income?
Plug Power (PLUG) reported net income of -$245.3M in Q1 2026.
How has Plug Power's net income changed year-over-year?
Plug Power's net income decreased by 24.7% year-over-year, from -$196.66M to -$245.3M.
What is the long-term trend for Plug Power's net income?
Over 4 years (2021 to 2025), Plug Power's net income has grown at a 37.2% compound annual growth rate (CAGR), from -$459.97M to -$1.63B.
What does net income mean?
The bottom line — total revenue minus all expenses, taxes, and costs. Represents the profit attributable to the company's shareholders after all obligations are met.

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