Plug Power Earnings Reports

Plug Power reported $177 million in revenue for Q3 2025, driven by strong electrolyzer business performance and increased hydrogen fuel sales. Despite a GAAP gross loss of $120 million and a GAAP EPS of ($0.31), the company showed improvements in adjusted gross loss and adjusted EPS, alongside significant operational progress in global electrolyzer deployments and hydrogen fuel production.

The company posted revenue of $173.97M, EPS of -$0.20, and a net loss of $227.10M; gross margin improved to -31% and electrolyzer revenue tripled to ~$45M, with unrestricted cash at $140.7M.

Plug Power posted a net loss of $196.7M for Q1 2025 but demonstrated significant year-over-year improvements in gross margin, revenue growth, and operational efficiency.

Plug Power reported Q4 2024 revenue of $191.5 million, reflecting a key commercial inflection point in electrolyzer deployments and continued expansion of its hydrogen network. The company significantly reduced cash burn and made progress towards profitability through strategic actions like optimizing operations, streamlining workforce, and reducing working capital.

Plug Power announced its Q1 2024 financial results, highlighting progress in hydrogen generation network, electrolyzer contracts, and cryogenic sales expansion. The company is advancing towards securing a loan guarantee from the DOE and has commenced a process to complement it with project equity investors.

Plug Power's Q4 2023 earnings call highlighted sales of $222 million, progress in addressing the going concern issue, and resolution of material weakness issues. The company is focused on improving margins, reducing cash burn, and achieving positive cash flow in the next 12 months.

Plug Power's Q3 2023 revenue reached $199 million, a 5% increase year-over-year, but the overall financial performance was negatively impacted by unprecedented supply challenges in the North American hydrogen network. The company is focused on operational scale, in-house hydrogen generation, and policy tailwinds to improve financials in the coming quarters.

Plug Power reported record revenue of $260.2 million for Q2 2023, up 72% year-over-year. The company is focused on scaling its business to drive cost reductions and improve margins, with a clear path towards achieving enhanced margins in the near term.

Plug Power reported a revenue of $210.3 million in Q1 2023, a 49% increase compared to Q1 2022. The company is focused on expanding its green hydrogen ecosystem and achieving its growth objectives, margin expansion, and path to profitability.

Plug Power's Q4 2022 revenue reached $221 million, compared to $162 million in Q4 2021. The company's gross margin improved year-over-year, moving from negative 54% to negative 36%.

Plug Power reported revenue of $188.6M in Q3 2022, a 31% increase year over year. The company reaffirmed its 2023 revenue guidance of $1.4B and is focused on margin expansion and substantial revenue growth, driven by material handling and four key business initiatives.

Plug Power reported $151.3 million in revenue for Q2 2022, compared to $124.6 million for Q2 2021. The company reaffirmed its full-year revenue guidance of $900-$925 million and highlighted progress in electrolyzer business, clean energy legislation benefits, and green hydrogen generation network build-out.

Plug Power reported Q1 2022 revenue of $140.8 million, a 96% increase year-over-year. Material handling contributed approximately $96 million, with other product offerings, including electrolyzer solutions and recent acquisitions, accounting for approximately $44.8 million. The company reaffirms its full-year revenue targets of $900-$925 million and is focused on margin expansion and profitability.

Plug Power reported $162 million in revenue for Q4 2021, compared to ($309 million) for the fourth quarter of 2020. The company shipped approximately 3,300 GenDrive units and had revenue associated with 11 hydrogen infrastructure systems. They also reaffirmed 2022 revenue goal of $900 million - $925 million and 2025 goals of $3 billion in revenue, and 17% operating income margin.

Plug Power reported a record revenue quarter with $143.9 million, up 34% year-over-year. Gross margin remained under pressure due to elevated fuel, service, and product costs, though improvements are expected in 2022. The company continued to expand its green hydrogen generation network and formed strategic partnerships in Europe and Asia Pacific.

Plug Power reported record second-quarter revenue of $124.6 million, an 83% increase year-over-year. The company continues to execute its strategic priorities, including the launch of HYVIA, expansion of its green hydrogen generation network, and new market partnerships. Gross margin remained under pressure due to hydrogen sourcing costs and COVID-19 related supply chain impacts, but improvements are expected in the second half of the year.

Plug Power reported a net revenue of $72.0 million for Q1 2021, compared to $40.8 million for the same period in 2020. Gross billings for the quarter were $73.7 million, up from $43.0 million in Q1 2020. The company shipped 1,308 GenDrive units and had revenue associated with six hydrogen infrastructure systems.

Plug Power reported record gross billings of $96.3 million for the fourth quarter of 2020 and $337.4 million for the full year. The company deployed over 2,200 fuel cell units in the fourth quarter of 2020 and over 9,800 for the full year. The company reaffirmed the 2021 gross billings guidance of $475 million.

Plug Power reported a record third quarter with gross billings of $125.6M, a 106% increase year-over-year and 73.4% sequentially. The company is raising its 2020 full-year gross billings guidance to $325M-$330M.

Plug Power achieved record second quarter gross billings, reflecting year-over-year growth of 24% and sequential growth of 68% above a record Q1 2020. The company closed the acquisitions of United Hydrogen and Giner ELX, positioning Plug Power to transition to zero-carbon hydrogen solutions, and launched the first ever convertible green bond offering in the US, raising $212M.

Plug Power reported record gross billings of $43.0 million in Q1 2020, representing an 89% year-over-year growth. The company reaffirmed its 2020 guidance and made significant progress on its hydrogen vertical integration strategy, including pursuing two acquisitions.

Plug Power reported its best quarter and year in the company's history in Q4 2019, setting the stage for meaningful growth in 2020 and beyond. The company achieved record gross billings of $94.5 million in the fourth quarter of 2019 and deployed over 2,400 fuel cell units.