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Plug Power PLUG Business Segments — Research And Development Expense

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POWISingle Reportable — Research And Development Expense Excluding Stock Based Compensation
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ALMSSingle Reportable — Other Research And Development Expense
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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%
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$3.78B+140%

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:ResearchAndDevelopmentExpense.

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 business segments — research and development expense?
Plug Power (PLUG) reported business segments — research and development expense of $12.11M in Q1 2026.
How has Plug Power's business segments — research and development expense changed year-over-year?
Plug Power's business segments — research and development expense decreased by 30.2% year-over-year, from $17.36M to $12.11M.
What is the long-term trend for Plug Power's business segments — research and development expense?
Over 3 years (2022 to 2025), Plug Power's business segments — research and development expense has grown at a -16.5% compound annual growth rate (CAGR), from $99.58M to $57.96M.
What does business segments — research and development expense mean?
These are the costs incurred by the business segment to develop new technologies, improve existing hydrogen solutions, and innovate within the green energy sector. Monitoring this spend helps investors assess the company's commitment to maintaining a competitive technological advantage.