Form 8-K
8-K — PLUG POWER INC
Accession: 0001104659-26-058615
Filed: 2026-05-11
Period: 2026-05-11
CIK: 0001093691
SIC: 3620 (ELECTRICAL INDUSTRIAL APPARATUS)
Item: Results of Operations and Financial Condition
Item: Financial Statements and Exhibits
Documents
8-K — tm2614034d1_8k.htm (Primary)
EX-99.1 — EXHIBIT 99.1 (tm2614034d1_ex99-1.htm)
XML — IDEA: XBRL DOCUMENT (R1.htm)
8-K — FORM 8-K
8-K (Primary)
Filename: tm2614034d1_8k.htm · Sequence: 1
false
0001093691
0001093691
2026-05-11
2026-05-11
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported): May 11, 2026
Plug Power Inc.
(Exact name of registrant as specified in its
charter)
Delaware
1-34392
22-3672377
(State
or other jurisdiction
(Commission
File
(IRS
Employer
of
incorporation)
Number)
Identification
No.)
125 Vista Boulevard,
Slingerlands, New York
12159
(Address
of principal executive offices)
(Zip
Code)
Registrant’s telephone number,
including area code: (518) 782-7700
N/A
(Former name or former address, if changed since
last report.)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
¨ Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange
on which
registered
Common
Stock, par value $0.01 per share
PLUG
The
Nasdaq Capital
Market
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth
company ¨
If an emerging growth
company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 2.02 Results of Operations and Financial Condition.
On May 11, 2026, Plug Power Inc., a Delaware corporation
(the “Company”), issued a press release regarding its financial results for the first quarter ended March 31, 2026. A copy
of the press release is furnished herewith as Exhibit 99.1.
The information in this Item 2.02 of this Current
Report on Form 8-K, including Exhibit 99.1 hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall
it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly
set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number
Title
99.1
Press Release of Plug
Power Inc., dated May 11, 2026.
104
Cover Page Interactive Data File (embedded with the Inline XBRL document).
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Plug Power Inc.
Date: May 11, 2026
By:
/s/ Paul Middleton
Name: Paul Middleton
Title: Chief Financial Officer
EX-99.1 — EXHIBIT 99.1
EX-99.1
Filename: tm2614034d1_ex99-1.htm · Sequence: 2
Exhibit 99.1
Plug
Power Reports Strong Q1 2026 Results with 22% Revenue Growth and 71% Margin Improvement Year over Year
SLINGERLANDS, N.Y., May 11, 2026 — Plug Power Inc., a global
leader in hydrogen solutions, today reported results for the first quarter of 2026, delivering strong revenue growth, meaningful margin
improvement, and continued progress toward profitability.
The Company exceeded its expectations on revenue and delivered its
margin and EPS targets for the quarter. This performance reflects disciplined execution across Plug’s integrated hydrogen platform,
improving unit economics, and continued demand across core markets.
Q1 2026 Financial Highlights
· Revenue increased 22% year-over-year to $163.5 million, reflecting growth
across material handling and electrolyzer businesses
· GAAP
gross margin improved to (13%) from (55%) in the prior-year period, representing a 71% improvement in overall margin and a 42 percentage
point improvement in the margin rate year-over-year, driven by sales growth, cost optimization, improved service execution, and fuel
sourcing efficiencies
· Q1
2026 GAAP EPS was ($0.18), inclusive of approximately $140 million primarily associated with non-cash charges related to adjustments
in convertible debt and warrant valuations stemming from changes in the stock market and the Company’s stock price escalation;
Q1 2025 GAAP EPS was ($0.21)
· Adjusted
EPS improved to ($0.08) for Q1 2026 from ($0.17) in Q1 2025, excluding the impact of certain non-cash charges; see the reconciliation
below
“Our first quarter results reflect strong commercial execution
and continued progress improving the underlying economics of the business and positions us to achieve our EBITDAS positive target in Q4
2026,” said Jose Luis Crespo, Chief Executive Officer of Plug. “We exceeded internal expectations on revenue, delivered on
our margin and EPS targets, and continue to strengthen our financial position. Our focus remains on execution and growth, driving efficiency,
expanding margins, and converting our scale into consistent financial performance.”
Commercial Business Update
Material Handling (GenDrive Fuel Cells and
GenFuel Systems)
· Expansion
with existing customer sites, including Amazon and Walmart, and continued new business development
· Record
service performance, with GenDrive per-unit quarterly service costs down over 30% year-over-year, contributing to margin improvement
· Ongoing
demand supported by productivity gains, reliability improvements, and reduced grid dependence
Electrolyzer Solutions (GenEco)
· More
than 320 MW of electrolyzer capacity deployed globally
· Over
$8 billion project pipeline across industrial and energy applications
· Execution
on key projects:
○ 100
MW system with Galp Energia (Portugal)
○ 25
MW system with Iberdrola and BP (Spain)
· New
and advancing opportunities:
○ 275
MW award of Front-End Engineering Design with Hy2gen (Québec, Canada)
○ Continued
progress with Allied Green Ammonia, including advancement with the Uzbekistan government on a binding tax incentive agreement and the
memorandum of understanding (MOU) with Uzbekistan Airports for SAF and e-SAF initiatives, two key steps toward final investment decision
(FID)
Hydrogen Production
· Hydrogen
fuel sales increased by 22% for Q1 2026 in relation to Q1 2025, driven by customer growth, increasing prices, and reduced customer warrant
charges
· Hydrogen
fuel margin rate improved by 54 percentage points in Q1 2026 versus Q1 2025, stemming from greater leverage on Plug’s hydrogen
network with higher volumes, reduced third-party sourcing costs, and efforts to improve network efficiency
· Volume
is one of the key drivers to improve margins on hydrogen fuel sales as it provides even greater leverage on the Company’s production
facilities’ fixed overhead costs. The Company continues to scale new customer sites and utilization for existing sites.
· Plug’s
production facilities in Georgia, Tennessee, and Louisiana provide approximately 40 TPD in total capacity supporting both internal demand
and broader commercial opportunities
Liquidity and Capital Position
· Ended
the quarter with over $802 million in total cash, including $223 million in unrestricted cash and approximately $579 million of restricted
cash, which is expected to release ~$50 million per quarter over the next few years
· Anticipated
proceeds of approximately $275 million from hydrogen project asset monetization initiatives, including the previously announced agreement
with Stream Data Centers. At this time, the first transaction for approximately $142 million is expected to close in June.
· Expected
sale of an investment tax credit associated with the St. Gabriel, Louisiana joint venture hydrogen liquefier for $39.2 million, currently
targeted to close by the end of May 2026
· Cash
usage tracking modestly better than the Company’s internal plan; sequential improvement in cash usage is expected over the balance
of 2026, with positive EBITDAS targeted in Q4 2026
Positioned for Long-Term Value Creation
Plug continues to execute against a clear set of priorities: margin
expansion, disciplined capital deployment, and conversion of its project pipeline into profitable growth. The Company remains focused
on achieving positive EBITDAS in the fourth quarter of 2026. Operating at the center of the global energy transition, Plug has built a
scaled platform spanning hydrogen production, delivery, and end-use applications. Its integrated hydrogen ecosystem remains a key differentiator,
which management believes will drive increased revenue visibility, improved asset utilization, and expanding margins as the platform continues
to scale.
Earnings Call Details
Management will host a conference call to discuss results and business
outlook.
· Date:
May 11, 2026
· Time:
4:30 PM ET
· Toll-free:
877-407-9221 / +1 201-689-8597
· Direct
webcast: https://event.webcasts.com/starthere.jsp?ei=1760125&tp_key=6963e219ef
A live webcast will be available on the Plug Investor Relations website
at www.ir.plugpower.com, and a playback will remain available online following the call.
About Plug Power
Plug designs, builds, and operates a fully integrated hydrogen ecosystem
spanning production, storage, delivery, and power generation, enabling the global hydrogen economy. A first mover in the industry, Plug
delivers electrolyzers, fuel cells, and hydrogen production plants to customers across material handling, industrial applications, and
energy markets, advancing energy resilience and industrial decarbonization.
Plug’s GenEco electrolyzers span five continents, and the Company
has more than 74,000 GenDrive fuel cell systems and 280+ hydrogen-powered material handling sites deployed to date. Plug also operates
its own hydrogen generation network to ensure a reliable, domestically produced supply, with production facilities currently operational
in Georgia, Tennessee, and Louisiana, representing a combined capacity of approximately 40 tons per day.
With employees and state-of-the-art manufacturing facilities around
the world, Plug serves global leaders including Walmart, Amazon, Home Depot, BMW, and BP.
For more information, visit www.plugpower.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements
regarding the Company's expectations, beliefs, plans, projections, and anticipated results of operations, including statements regarding
anticipated financial results, targets, and objectives for future periods, cash usage, liquidity, asset monetization initiatives and the
timing of such closings, hydrogen production capacity and utilization, project pipeline opportunities, electrolyzer deployments, anticipated
benefits of “Project Quantum Leap,” and the Company’s ability to achieve positive EBITDAS in the fourth quarter of 2026.
Forward-looking statements are based on management’s current expectations and assumptions and are subject to risks and uncertainties
that could cause actual results to differ materially from those expressed or implied by such statements. Factors that could cause actual
results to differ materially include, but are not limited to: the Company’s ability to achieve anticipated cost reductions and operational
efficiencies; the Company’s ability to improve margins and manage cash usage; the Company’s ability to successfully execute
its hydrogen production, liquefaction, and logistics strategy; the availability, timing, and cost of hydrogen supply and production inputs;
the Company’s ability to complete asset monetization transactions on anticipated terms or timelines; the Company’s ability
to close or realize anticipated proceeds from investment tax credit transactions; the Company’s ability to execute on its electrolyzer
project pipeline and convert opportunities into revenue-generating projects; delays or disruptions in project development, permitting,
construction, or commissioning; the availability of financing or capital; changes in customer demand, including within the material handling
and energy markets; competitive pressures; changes in government policies, incentives, or regulations; macroeconomic conditions; and other
risks described in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on
Form 10-K and subsequent Quarterly Reports on Form 10-Q. The forward-looking statements included in this press release speak only as of
the date hereof. The Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events
or circumstances, except as required by law.
Plug Power Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except share and per share amounts)
(Unaudited)
March 31,
December 31,
2026
2025
Assets
Current assets:
Cash and cash equivalents
$ 223,189
$ 368,540
Restricted cash
183,685
186,746
Accounts receivable, net of allowance of $44,980 as of March 31, 2026 and $46,805 as of December 31, 2025
106,511
134,758
Inventory, net
516,153
520,968
Contract assets
105,099
105,268
Prepaid expenses, tax credits, and other current assets
140,148
93,988
Total current assets
1,274,785
1,410,268
Restricted cash
395,140
438,698
Property, plant, and equipment, net
240,499
281,001
Right of use assets related to finance leases, net
39,065
44,852
Right of use assets related to operating leases, net
170,193
182,206
Equipment related to power purchase agreements and fuel delivered to customers, net
133,788
122,926
Contract assets
24,312
24,137
Intangible assets, net
28,231
29,228
Investments in non-consolidated entities and non-marketable securities
45,612
46,909
Other assets
16,559
14,343
Total assets
$ 2,368,184
$ 2,594,568
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable
$ 144,251
$ 168,744
Accrued expenses
113,068
128,010
Deferred revenue and other contract liabilities
68,508
66,742
Operating lease liabilities
63,181
70,407
Finance lease liabilities
10,098
10,934
Finance obligations
66,374
76,160
Current portion of convertible debt instruments, net
2,495
2,583
Current portion of long-term debt
439
626
Contingent consideration, loss accrual for service contracts, and other current liabilities (of which $601 was measured at fair value as of March 31, 2026 and $4,871 was measured at fair value as of December 31, 2025)
72,292
86,382
Total current liabilities
540,706
610,588
Deferred revenue and other contract liabilities
29,615
34,203
Operating lease liabilities
175,277
194,709
Finance lease liabilities
14,750
17,627
Finance obligations
173,531
191,806
Warrant liabilities
106,963
52,323
Convertible debt instruments, net
502,770
431,014
Long-term debt
1,258
1,306
Contingent consideration, loss accrual for service contracts, and other liabilities (of which $7,185 was measured at fair value as of March 31, 2026 and $6,906 was measured at fair value as of December 31, 2025)
49,425
57,678
Total liabilities
1,594,295
1,591,254
Stockholders’ equity:
Common stock, $.01 par value per share; 3,000,000,000 shares authorized as of March 31, 2026 and 1,500,000,000 shares authorized as of December 31, 2025; Issued (including shares in treasury): 1,395,643,390 as of March 31, 2026 and 1,394,241,538 as of December 31, 2025
13,957
13,943
Additional paid-in capital
9,206,736
9,186,314
Accumulated other comprehensive income
3,442
6,796
Accumulated deficit
(8,471,343 )
(8,226,039 )
Less common stock in treasury: 987,495 as of March 31, 2026 and 970,588 as of December 31, 2025
(2,982 )
(2,945 )
Total Plug Power Inc. stockholders’ equity
749,810
978,069
Non-controlling interest
24,079
25,245
Total stockholders’ equity
773,889
1,003,314
Total liabilities and stockholders’ equity
$ 2,368,184
$ 2,594,568
Plug Power Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(In thousands, except share and per share amounts)
(Unaudited)
Three months ended March 31,
2026
2025
Net revenue:
Sales of equipment, related infrastructure and other
$ 79,022
$ 63,506
Services performed on fuel cell systems and related infrastructure
21,970
16,874
Power purchase agreements
26,290
23,210
Fuel delivered to customers and related equipment
35,795
29,457
Other
436
627
Net revenue
163,513
133,674
Cost of revenue:
Sales of equipment, related infrastructure and other
85,327
74,556
Services performed on fuel cell systems and related infrastructure
14,421
14,462
(Benefit)/provision for loss contracts related to service
(7,814 )
8,888
Power purchase agreements
40,148
49,932
Fuel delivered to customers and related equipment
52,892
59,354
Other
146
343
Total cost of revenue
185,120
207,535
Gross loss
(21,607 )
(73,861 )
Operating expenses:
Research and development
12,113
17,357
Selling, general and administrative
70,208
80,839
Restructuring
1,425
17,154
Impairment
3,856
1,064
Change in fair value of contingent consideration
280
(11,819 )
Total operating expenses
87,882
104,595
Operating loss
(109,489 )
(178,456 )
Interest income
3,845
5,153
Interest expense
(17,351 )
(11,486 )
Other income, net
1,086
1,290
Gain/(loss) on extinguishment of convertible debt instruments and finance obligations
1,805
(3,652 )
Change in fair value of convertible debt instruments
(70,782 )
(7,338 )
Change in fair value of warrant liabilities
(54,640 )
—
Loss on equity method investments
(470 )
(2,370 )
Loss before income taxes
$ (245,996 )
$ (196,859 )
Income tax expense
(41 )
—
Net loss
$ (246,037 )
$ (196,859 )
Net loss attributable to non-controlling interest
(733 )
(203 )
Net loss attributable to Plug Power Inc.
$ (245,304 )
$ (196,656 )
Net loss per share attributable to Plug Power Inc.:
Basic and diluted
$ (0.18 )
$ (0.21 )
Weighted average number of common stock outstanding
1,389,672,378
945,767,987
Plug Power Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
Three months ended March 31,
2026
2025
Operating activities
Net loss
$ (246,037 )
$ (196,859 )
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation of long-lived assets
6,312
12,134
Amortization of intangible assets
908
2,007
Lower of cost or net realizable value inventory adjustments and provision for excess and obsolete inventory
7,271
8,262
Stock-based compensation
13,938
11,087
(Gain)/loss on extinguishment of convertible debt instruments and finance obligations
(1,805 )
3,652
Provision for losses on accounts receivable
2,394
40
Amortization of discount/(premium) of debt issuance costs on convertible debt instruments and long-term debt
997
(320 )
Provision for common stock warrants
4,561
9,124
Impairment
3,856
1,064
Recovery on service contracts
(14,685 )
(2,937 )
Change in fair value of contingent consideration
280
(11,819 )
Change in fair value of convertible debt instruments
70,782
7,338
Change in fair value of warrant liabilities
54,640
-
Loss on equity method investments
470
2,370
Changes in operating assets and liabilities that provide/(use) cash:
Accounts receivable
25,853
12,251
Inventory
(6,860 )
(18,357 )
Contract assets
1,561
580
Prepaid expenses and other assets
(9,337 )
40,576
Accounts payable, accrued expenses, and other liabilities
(43,343 )
47,578
Payments of contingent consideration
(1,918 )
(6,024 )
Payments of operating lease liabilities, net
(17,523 )
(5,618 )
Deferred revenue and other contract liabilities
(2,356 )
(21,697 )
Net cash used in operating activities
(150,041 )
(105,568 )
Investing activities
Purchases of property, plant and equipment
(2,407 )
(40,451 )
Purchases of equipment related to power purchase agreements and equipment related to fuel delivered to customers
(5,707 )
(5,608 )
Cash paid for non-consolidated entities and non-marketable securities
(367 )
(514 )
Net cash used in investing activities
(8,481 )
(46,573 )
Financing activities
Payments of contingent consideration
(2,330 )
-
Proceeds from public and private offerings, net of transaction costs
-
276,053
Payments of tax withholding on behalf of employees for net stock settlement of stock-based compensation
(37 )
(49 )
Proceeds from exercise of stock options
90
-
Contributions by non-controlling interest
300
-
Principal payments on convertible debt instruments
-
(45,000 )
Premium on principal of convertible debt instruments settled in cash
-
(1,238 )
Principal payments on long-term debt
(346 )
(344 )
Cash paid for capitalized closing fees related to DOE loan guarantee
-
(12,817 )
Principal repayments of finance obligations and finance leases
(29,419 )
(23,373 )
Net cash (used in)/provided by financing activities
(31,742 )
193,232
Effect of exchange rate changes on cash
(1,706 )
(5,189 )
(Decrease)/increase in cash and cash equivalents
(145,351 )
90,151
Decrease in restricted cash
(46,619 )
(54,249 )
Cash, cash equivalents, and restricted cash beginning of period
993,984
1,040,709
Cash, cash equivalents, and restricted cash end of period
$ 802,014
$ 1,076,611
Plug Power Inc. and Subsidiaries
Reconciliation of Non-GAAP Financial Measures
(In thousands, except per share amounts)
(Unaudited)
For the three months ended March 31,
2026
2025
Reconciliation of net loss attributable to Plug Power Inc. and adjusted net loss attributable to Plug Power Inc. (Non-GAAP):
Net loss attributable to Plug Power Inc. (GAAP):
$ (245,304 )
$ (196,656 )
Adjustments, net of estimated tax effect:
Impairment
3,856
1,064
Restructuring, legal accruals, write-off of various loans receivable, bad debt and supplier contract modification
4,819
24,971
Change in fair value of contingent consideration
280
(11,819 )
Lower of cost or net realizable value inventory adjustments, and provision for excess and obsolete inventory
7,271
8,262
Losses on extinguishment and changes in fair value of convertible debt instruments, finance obligations and warrant liabilities, net
123,617
10,990
Adjusted net loss attributable to Plug Power Inc. (Non-GAAP):
$ (105,461 )
$ (163,188 )
Adjusted basic and diluted net loss per share attributable to Plug Power Inc. (Non-GAAP):
$ (0.08 )
$ (0.17 )
Weighted average number of common stock outstanding
1,389,672,378
945,767,987
Explanatory
Notes on Use of Non-GAAP Measures
To
supplement the Company’s unaudited financial data presented on a generally accepted accounting principles (GAAP) basis, management
has used adjusted basic and diluted net loss per share attributable to Plug Power Inc., which are non-GAAP performance-based measures.
These non-GAAP measures are among the indicators management uses as a basis for evaluating the Company’s financial performance
as well as for forecasting future periods. Management establishes performance targets, annual budgets and makes operating decisions based
in part upon these metrics. Accordingly, disclosure of these non-GAAP measures provides investors with the same information that management
uses to understand the Company’s economic performance year over year. In addition, the Company believes these non-GAAP financial
measures improve understanding of comparable information from past reports of financial results.
Adjusted basic and diluted
net loss per share attributable to Plug Power Inc. should not be considered as an alternative to net income or any other performance
measure derived in accordance with GAAP, or as an alternative to cash flows from operating activities as a measure of our liquidity.
Adjusted basic and diluted net loss per share attributable to Plug Power Inc. is defined as the basic and diluted attributable to Plug
Power Inc. adjusted for, when applicable, impairment, restructuring, legal accruals, write-off of various loans receivable
and bad debt, change in fair value of contingent consideration, losses on extinguishment and changes in fair value of convertible
debt instruments, finance obligations and warrant liabilities, net, supplier contract modifications, lower of cost or net realizable value inventory adjustments, and provision for excess and obsolete inventory, and product warranty expense, net
of the estimated tax effect of these adjustments and any anticipated tax valuation adjustments. The adjustments made to the basic and
diluted earnings per share have no income tax effect in light of the Company’s full valuation allowance recorded on their deferred
tax assets. While management believes that the non-GAAP financial measures provide useful supplemental information to investors, there
are limitations associated with the use of these measures. The measures are not prepared in accordance with GAAP and may not be directly
comparable to similarly titled measures of other companies due to potential differences in the exact method of calculation. The Company’s
non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and
should be read only in conjunction with the Company’s unaudited condensed consolidated financial statements prepared in accordance
with GAAP.
In addition, the Company’s EBITDAS-positive target for Q4 2026 is a forward-looking non-GAAP financial measure
that cannot be reconciled to the most directly comparable GAAP measure, net income (loss), without unreasonable effort. The Company defines
EBITDAS as earnings before interest, income tax, depreciation, amortization and share-based expense. This is because the Company is not
able to forecast with reasonable accuracy certain items required for such reconciliation, including interest expense associated with
financial arrangements, income taxes, and other non-cash or infrequent charges. These items are inherently uncertain, depend on future
events outside of management’s control, and could materially affect the Company’s GAAP results. The Company provides this
target to give investors insight into the direction of its operational objectives rather than as a prediction of GAAP earnings.
XML — IDEA: XBRL DOCUMENT
XML
Filename: R1.htm · Sequence: 7
v3.26.1
Cover
May 11, 2026
Cover [Abstract]
Document Type
8-K
Amendment Flag
false
Document Period End Date
May 11, 2026
Entity File Number
1-34392
Entity Registrant Name
Plug Power Inc.
Entity Central Index Key
0001093691
Entity Tax Identification Number
22-3672377
Entity Incorporation, State or Country Code
DE
Entity Address, Address Line One
125 Vista Boulevard
Entity Address, City or Town
Slingerlands
Entity Address, State or Province
NY
Entity Address, Postal Zip Code
12159
City Area Code
518
Local Phone Number
782-7700
Written Communications
false
Soliciting Material
false
Pre-commencement Tender Offer
false
Pre-commencement Issuer Tender Offer
false
Title of 12(b) Security
Common
Stock, par value $0.01 per share
Trading Symbol
PLUG
Security Exchange Name
NASDAQ
Entity Emerging Growth Company
false
X
- Definition
Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.
+ References
No definition available.
+ Details
Name:
dei_AmendmentFlag
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Area code of city
+ References
No definition available.
+ Details
Name:
dei_CityAreaCode
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Cover page.
+ References
No definition available.
+ Details
Name:
dei_CoverAbstract
Namespace Prefix:
dei_
Data Type:
xbrli:stringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
No definition available.
+ Details
Name:
dei_DocumentPeriodEndDate
Namespace Prefix:
dei_
Data Type:
xbrli:dateItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
No definition available.
+ Details
Name:
dei_DocumentType
Namespace Prefix:
dei_
Data Type:
dei:submissionTypeItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Address Line 1 such as Attn, Building Name, Street Name
+ References
No definition available.
+ Details
Name:
dei_EntityAddressAddressLine1
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the City or Town
+ References
No definition available.
+ Details
Name:
dei_EntityAddressCityOrTown
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Code for the postal or zip code
+ References
No definition available.
+ Details
Name:
dei_EntityAddressPostalZipCode
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the state or province.
+ References
No definition available.
+ Details
Name:
dei_EntityAddressStateOrProvince
Namespace Prefix:
dei_
Data Type:
dei:stateOrProvinceItemType
Balance Type:
na
Period Type:
duration
X
- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityCentralIndexKey
Namespace Prefix:
dei_
Data Type:
dei:centralIndexKeyItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Indicate if registrant meets the emerging growth company criteria.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityEmergingGrowthCompany
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
No definition available.
+ Details
Name:
dei_EntityFileNumber
Namespace Prefix:
dei_
Data Type:
dei:fileNumberItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Two-character EDGAR code representing the state or country of incorporation.
+ References
No definition available.
+ Details
Name:
dei_EntityIncorporationStateCountryCode
Namespace Prefix:
dei_
Data Type:
dei:edgarStateCountryItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityRegistrantName
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityTaxIdentificationNumber
Namespace Prefix:
dei_
Data Type:
dei:employerIdItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Local phone number for entity.
+ References
No definition available.
+ Details
Name:
dei_LocalPhoneNumber
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 13e
-Subsection 4c
+ Details
Name:
dei_PreCommencementIssuerTenderOffer
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
+ Details
Name:
dei_PreCommencementTenderOffer
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Title of a 12(b) registered security.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
+ Details
Name:
dei_Security12bTitle
Namespace Prefix:
dei_
Data Type:
dei:securityTitleItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the Exchange on which a security is registered.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
+ Details
Name:
dei_SecurityExchangeName
Namespace Prefix:
dei_
Data Type:
dei:edgarExchangeCodeItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14a
-Subsection 12
+ Details
Name:
dei_SolicitingMaterial
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Trading symbol of an instrument as listed on an exchange.
+ References
No definition available.
+ Details
Name:
dei_TradingSymbol
Namespace Prefix:
dei_
Data Type:
dei:tradingSymbolItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
+ Details
Name:
dei_WrittenCommunications
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration