What is Plug Power's total cost of revenue?

Plug Power (PLUG) reported total cost of revenue of $185.12M in Q1 2026.

How has Plug Power's total cost of revenue changed year-over-year?

Plug Power's total cost of revenue decreased by 10.8% year-over-year, from $207.54M to $185.12M.

What is the long-term trend for Plug Power's total cost of revenue?

Over 4 years (2021 to 2025), Plug Power's total cost of revenue has grown at a 9.0% compound annual growth rate (CAGR), from $673.65M to $951.96M.

What does total cost of revenue mean?

The aggregate of all direct costs attributable to producing goods and delivering services that generated the company's revenue, including materials, labor, and overhead.

Plug Power PLUG Total Cost of Revenue

Total Cost of Revenue at other companies

Bloom EnergyBE

$525.51M+121%

FluorFLR

$3.65B-5.0%

Franklin ElectricFELE

$325.47M+11.7%

KBRKBR

$1.66B-3.5%

Fluence Energy, Inc.FLNC

$418.26M+7.5%

CaterpillarCAT

$11.31B+26.1%

Segments

By product

See full

Fuel Delivered To Customers And Related Equipment$52.89M-10.9%

Power Purchase Agreements$40.15M-19.6%

Services Performed On Fuel Cell Systems And Related Infrastructure$14.42M-0.3%

Other Product And Services$146K-57.4%

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$3.98B+140%

Enterprise value$4.02B+135%

P/S5.4×+2.8×

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:CostOfRevenue.

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 total cost of revenue?: Plug Power (PLUG) reported total cost of revenue of $185.12M in Q1 2026.
How has Plug Power's total cost of revenue changed year-over-year?: Plug Power's total cost of revenue decreased by 10.8% year-over-year, from $207.54M to $185.12M.
What is the long-term trend for Plug Power's total cost of revenue?: Over 4 years (2021 to 2025), Plug Power's total cost of revenue has grown at a 9.0% compound annual growth rate (CAGR), from $673.65M to $951.96M.
What does total cost of revenue mean?: The aggregate of all direct costs attributable to producing goods and delivering services that generated the company's revenue, including materials, labor, and overhead.