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Plug Power PLUG Total Revenue

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Segments

By product

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Fuel Delivered To Customers And Related Equipment$39.47M+14.7%
Sales Of Fuel Cell Systems$31.93M+105%
Services Performed On Fuel Cell Systems And Related Infrastructure$29.84M+82.3%
Power Purchase Agreements$26.93M+14.0%
Sale Of Cryogenic Equipment$26.7M-0.5%
Sale Of Electrolyzers$13.22M-70.5%

By segment

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Single Reportable$178.3M+2.5%

Other financials

Income statement

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Gross profit-$1.7M+96.9%
Operating income-$64.1M+63.8%
Net income-$188.2M+17.1%
EPS (diluted)-$0.14+30.0%

Balance sheet

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Cash & equivalents$161.9M+15.0%
Total debt$243.6M-27.6%
Total equity$581.8M-65.4%
Total assets$2.2B-34.6%

Cash flow

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Operating cash flow-$94.1M+51.0%
CapEx$6.3M-83.7%
Free cash flow-$100.4M+56.4%

Valuation

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Market cap$2.64B-19.9%
Enterprise value$2.72B-21.0%
P/S3.6×-1.3×

Profitability

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Gross margin-19.3%-8.1pp
Operating margin-172.8%-47.5pp
Net margin-220.6%-43.7pp
FCF margin-70.3%-19.7pp

Returns & leverage

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Return on equity-145.1%+371pp
Debt / equity0.4×+0.2×
Current ratio2.3×+0.7×

Where this comes from

Reported directly by Plug Power in its filing.

Tagged under the XBRL concept us-gaap:Revenues.

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

Filed
Aug 10, 2026, 5:06 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001104659-26-093454
Line itemThree months ended June 30, 2026Three months ended June 30, 2025Six months ended June 30, 2026Six months ended June 30, 2025
Power purchase agreements26,93223,63353,22246,843
Fuel delivered to customers and related equipment39,47234,39975,26763,856
Other1533985891,025
Net revenue178,299173,970341,812307,644
Cost of revenue:
Sales of equipment, related infrastructure and other80,326117,280165,653191,836
Services performed on fuel cell systems and related infrastructure21,7249,99636,14524,458
Benefit for loss contracts related to service(15,674)(10,832)(23,488)(1,944)

Item 1 — Interim Condensed Consolidated Financial Statements (Unaudited)

FAQ

What is Plug Power's total revenue?
Plug Power (PLUG) reported total revenue of $178.3M in Q2 2026.
How has Plug Power's total revenue changed year-over-year?
Plug Power's total revenue increased by 2.5% year-over-year, from $173.97M to $178.3M.
What is the long-term trend for Plug Power's total revenue?
Over 4 years (2021 to 2025), Plug Power's total revenue has grown at a 9.0% compound annual growth rate (CAGR), from $502.34M to $709.92M.
What does total revenue mean?
The aggregate of all revenue from the company's operations — the top line from which all profitability metrics are derived.

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