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R&D at other companies

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Segments

By segment

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Single Reportable$12.11M-30.2%

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$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:ResearchAndDevelopmentExpense.

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
Total cost of revenue185,120207,535
Gross loss(21,607)(73,861)
Operating expenses:
Research and development12,11317,357
Selling, general and administrative70,20880,839
Restructuring1,42517,154
Impairment3,8561,064
Change in fair value of contingent consideration280(11,819)

Item 1 — Interim Condensed Consolidated Financial Statements (Unaudited)

FAQ

What is Plug Power's R&D?
Plug Power (PLUG) reported R&D of $12.11M in Q1 2026.
How has Plug Power's R&D changed year-over-year?
Plug Power's R&D decreased by 30.2% year-over-year, from $17.36M to $12.11M.
What is the long-term trend for Plug Power's R&D?
Over 4 years (2021 to 2025), Plug Power's R&D has grown at a -2.7% compound annual growth rate (CAGR), from $64.76M to $57.96M.
What does R&D mean?
Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

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