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Plug Power (PLUG) Revenue & Revenue Breakdown

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Plug Power Revenue Highlights

Latest Revenue (Y)

$709.92M

Latest Revenue (Q)

$178.30M

Main Segment (Y)

Sale Of Electrolyzers

Main Geography (Y)

UNITED STATES

Plug Power Revenue by Period

Plug Power Revenue by Year

DateRevenueChange
2025-12-31$709.92M12.90%
2024-12-31$628.81M-29.45%
2023-12-31$891.34M27.07%
2022-12-31$701.44M39.63%
2021-12-31$502.34M-638.78%
2020-12-31$-93.24M-140.54%
2019-12-31$229.97M31.69%
2018-12-31$174.63M31.37%
2017-12-31$132.93M54.70%
2016-12-31$85.93M-16.81%
2015-12-31$103.29M60.81%
2014-12-31$64.23M141.46%
2013-12-31$26.60M1.89%
2012-12-31$26.11M-5.49%
2011-12-31$27.63M41.87%
2010-12-31$19.47M58.41%
2009-12-31$12.29M-31.33%
2008-12-31$17.90M10.02%
2007-12-31$16.27M107.65%
2006-12-31$7.84M-41.90%
2005-12-31$13.49M-16.45%
2004-12-31$16.14M29.11%
2003-12-31$12.50M5.79%
2002-12-31$11.82M105.84%
2001-12-31$5.74M-31.47%
2000-12-31$8.38M-23.83%
1999-12-31$11.00M69.23%
1998-12-31$6.50M-

Plug Power generated $709.92M in revenue during NA 2025, up 12.90% compared to the previous quarter, and up -761.41% compared to the same period a year ago.

Plug Power Revenue by Quarter

DateRevenueChange
2026-06-30$178.30M9.04%
2026-03-31$163.51M-27.40%
2025-12-31$225.22M27.20%
2025-09-30$177.06M1.77%
2025-06-30$173.97M30.14%
2025-03-31$133.67M-30.19%
2024-12-31$191.47M10.21%
2024-09-30$173.73M21.19%
2024-06-30$143.35M19.20%
2024-03-31$120.26M-45.87%
2023-12-31$222.16M11.80%
2023-09-30$198.71M-23.63%
2023-06-30$260.18M23.73%
2023-03-31$210.29M-4.74%
2022-12-31$220.74M17.03%
2022-09-30$188.63M24.70%
2022-06-30$151.27M7.43%
2022-03-31$140.80M-13.03%
2021-12-31$161.91M12.49%
2021-09-30$143.92M15.55%
2021-06-30$124.56M73.10%
2021-03-31$71.96M-123.28%
2020-12-31$-309.11M-388.76%
2020-09-30$107.05M57.44%
2020-06-30$68.00M66.60%
2020-03-31$40.81M-55.35%
2019-12-31$91.40M62.13%
2019-09-30$56.38M-1.21%
2019-06-30$57.07M206.93%
2019-03-31$18.59M-68.92%
2018-12-31$59.82M12.52%
2018-09-30$53.16M33.16%
2018-06-30$39.93M37.30%
2018-03-31$29.08M-13.61%
2017-12-31$33.66M-45.20%
2017-09-30$61.43M171.75%
2017-06-30$22.60M48.37%
2017-03-31$15.23M-53.24%
2016-12-31$32.58M85.53%
2016-09-30$17.56M-14.17%
2016-06-30$20.46M33.44%
2016-03-31$15.33M-60.11%
2015-12-31$38.43M22.27%
2015-09-30$31.43M30.92%
2015-06-30$24.01M154.99%
2015-03-31$9.42M-56.11%
2014-12-31$21.45M7.91%
2014-09-30$19.88M14.78%
2014-06-30$17.32M210.73%
2014-03-31$5.57M-30.60%
2013-12-31$8.03M73.60%
2013-09-30$4.63M-38.29%
2013-06-30$7.50M16.33%
2013-03-31$6.45M8.84%
2012-12-31$5.92M23.99%
2012-09-30$4.78M-37.65%
2012-06-30$7.66M-1.20%
2012-03-31$7.75M-34.68%
2011-12-31$11.87M116.94%
2011-09-30$5.47M25.85%
2011-06-30$4.35M-26.85%
2011-03-31$5.94M-4.85%
2010-12-31$6.24M8.55%
2010-09-30$5.75M85.35%
2010-06-30$3.10M12.98%
2010-03-31$2.75M-29.69%
2009-12-31$3.91M53.71%
2009-09-30$2.54M-21.08%
2009-06-30$3.22M22.88%
2009-03-31$2.62M-50.33%
2008-12-31$5.28M30.17%
2008-09-30$4.05M-16.11%
2008-06-30$4.83M29.33%
2008-03-31$3.74M-26.70%
2007-12-31$5.10M-

Plug Power generated $178.30M in revenue during Q2 2026, up 9.04% compared to the previous quarter, and up 133.38% compared to the same period a year ago.

Plug Power Revenue Breakdown

Plug Power Revenue Breakdown by Product

Annual Revenue by Product

Product/ServiceDec 25Dec 24Dec 23Dec 22Dec 21
Sale of cryogenic equipment$95.69M$111.51M$193.64M$46.51M-
Sale Of Electrolyzers$187.78M$135.50M---
Sale Of Engineered Equipment$6.85M$22.09M---
Sale Of Hydrogen Infrastructure$26.75M$69.12M---
Services Performed On Fuel Cell Systems And Related Infrastructure$94.46M$52.17M---
Sales Of Fuel Cell Systems$54.01M$202.63M---
Fuel Delivered To Customers$133.41M$97.88M---
Other Product And Services$3.39M$10.59M---
Power Purchase Agreements$107.57M$77.84M$249.06M--
Sale Of Fuel Cell Systems And Other Infrastructure-$52.11M---
Other--$10.84M$2.85M$22.75M
Power purchase agreements--$435.97M$375.80M-
Services performed on fuel cell systems and related infrastructure--$123.08M$126.81M$102.36M
Sale of hydrogen infrastructure--$183.61M$141.53M$135.06M
Sale of electrolyzers--$301.32M$303.04M$49.16M
Fuel delivered to customers and related equipment--$95.44M$93.80M-
Sales of fuel cell systems--$181.17M$38.23M$23.14M
Sale of solutions----$7.57M
Fuel delivered to customers----$61.60M

Plug Power's latest annual revenue breakdown by segment (product or service), as of Dec 25: Sale Of Electrolyzers (26.45%), Fuel Delivered To Customers (18.79%), Power Purchase Agreements (15.15%), Sale of cryogenic equipment (13.48%), Services Performed On Fuel Cell Systems And Related Infrastructure (13.31%), Sales Of Fuel Cell Systems (7.61%), Sale Of Hydrogen Infrastructure (3.77%), Sale Of Engineered Equipment (0.97%), and Other Product And Services (0.48%).

Quarterly Revenue by Product

Product/ServiceJun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Mar 24Dec 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21
Sale of cryogenic equipment$26.70M$12.52M$19.98M$18.40M$26.84M$38.85M$50.67M$59.60M$62.30M-----------
Sale Of Electrolyzers$13.21M$40.88M$68.29M$65.41M$44.87M$9.21M--------------
Sale Of Engineered Equipment$1.84M$1.22M$3.43M$1.59M$301.00K$1.53M--------------
Services Performed On Fuel Cell Systems And Related Infrastructure$29.84M$21.97M$41.48M$19.74M$16.37M$16.87M-$131.11M$105.55M$103.50M$105.85M---------
Sales Of Fuel Cell Systems$31.93M$11.79M$11.17M$10.62M$15.56M$16.66M$10.75M$191.87M$23.82M$55.35M$66.03M---------
Sale Of Hydrogen Infrastructure$8.22M$12.61M$8.75M$753.00K$11.60M$5.65M--------------
Fuel Delivered To Customers$39.47M$35.80M$33.64M$35.91M$34.40M$62.61M$63.63M$64.56M------------
Other Product And Services$153.00K$436.00K$2.34M$24.00K$398.00K$627.00K$8.39M$2.19M$2.12M$2.50M$2.89M---------
Power Purchase Agreements$26.93M$26.29M$36.13M$24.60M$23.63M$23.21M-$375.12M$9.64M$212.36M$196.90M$185.43M--------
Fuel Delivered To Customers And Related Equipment-----$29.46M--------------
Sale Of Cryogenic Equipment-----$30.46M--------------
Services performed on fuel cell systems and related infrastructure--------$142.11M-$124.77M$121.42M$9.81M$121.76M$93.37M$98.64M$8.31M---
Other--------$2.36M$8.63M$1.19M$1.02M$1.70M$324.00K$571.00K$251.00K$110.00K---
Power purchase agreements--------$419.41M-$402.75M$385.10M$16.45M$319.74M$252.00M$255.93M----
Sale of electrolyzers--------$303.13M-$224.30M$281.72M$13.89M$266.74M$77.06M$51.27M----
Sale of hydrogen infrastructure--------$12.29M$76.09M$58.65M$48.87M$44.89M$37.14M$32.41M$27.09M----
Sales of fuel cell systems--------$55.67M$62.38M$65.21M$53.58M$60.83M$26.55M$14.76M$16.47M$72.61M---
Fuel delivered to customers and related equipment--------$93.69M-$95.18M$92.47M$16.91M$90.92M$81.78M-----
Sale of oil and gas equipment---------------$73.27M----
Fuel delivered to customers---------------$13.43M$13.11M---
Sale Of Hydrogen Installations And Other Infrastructure-----------------$58.43M$52.19M$69.68M

Plug Power's latest quarterly revenue breakdown by segment (product or service), as of Jun 26: Fuel Delivered To Customers (22.14%), Sales Of Fuel Cell Systems (17.91%), Services Performed On Fuel Cell Systems And Related Infrastructure (16.74%), Power Purchase Agreements (15.10%), Sale of cryogenic equipment (14.97%), Sale Of Electrolyzers (7.41%), Sale Of Hydrogen Infrastructure (4.61%), Sale Of Engineered Equipment (1.03%), and Other Product And Services (0.09%).

Plug Power Revenue Breakdown by Country

Annual Revenue by Country

CountryDec 25Dec 24Dec 23Dec 22Dec 21
Non-US$173.98M$200.60M---
UNITED STATES$535.94M$428.21M---
North America--$751.42M$579.22M$476.25M
Europe--$112.89M$46.03M-
Asia--$13.94M$50.50M-
Other.---$25.69M-
Other Member----$26.10M

Plug Power's latest annual revenue breakdown by geography, as of Dec 25: UNITED STATES (75.49%), and Non-US (24.51%).

Quarterly Revenue by Country

CountryDec 25Mar 25Sep 24Mar 24Dec 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22
Non-US$161.67M$12.31M---------
UNITED STATES$414.57M$121.36M---------
Europe--$50.96M$8.57M$60.60M$12.14M$40.15M----
Asia--$11.15M$5.07M$4.68M$6.00M$3.25M----
North America--$107.80M$105.91M$354.09M$235.52M$161.81M$193.60M$157.43M$115.21M$113.68M
Other.-----$6.52M$5.07M$-69.39M---
Other Member--------$31.20M$36.05M$27.13M

Plug Power's latest quarterly revenue breakdown by geography, as of Dec 25: UNITED STATES (71.94%), and Non-US (28.06%).

Plug Power Peer Comparison by Revenue

TickerCompanyLast Year RevenueLast Quarter Revenue
MATXMatson$3.34B$969.40M
AIRAAR$3.31B$845.10M
KFYKorn Ferry$2.94B$764.62M
HAFNHafnia$2.77B$763.04M
HAYWHayward$1.12B$318.38M
KAIKadant$1.05B$312.88M
PLUGPlug Power$709.92M$178.30M
EAFGrafTech$504.13M$127.36M
EOSEEos Energy Enterprises$114.20M$68.78M
AMPXAmprius$73.01M$34.03M

PLUG Revenue FAQ

What is Plug Power’s yearly revenue?

Plug Power's yearly revenue for 2025 was $709.92M, representing an increase of 12.90% compared to 2024. The company's yearly revenue for 2024 was $628.81M, representing a decrease of -29.45% compared to 2023. PLUG's yearly revenue for 2023 was $891.34M, representing an increase of 27.07% compared to 2022.

What is Plug Power’s quarterly revenue?

Plug Power's quarterly revenue for Q2 2026 was $178.3M, a 9.04% increase from the previous quarter (Q1 2026), and a 2.49% increase year-over-year (Q2 2025). The company's quarterly revenue for Q1 2026 was $163.51M, a -27.40% decrease from the previous quarter (Q4 2025), and a 22.32% increase year-over-year (Q1 2025). PLUG's quarterly revenue for Q4 2025 was $225.22M, a 27.20% increase from the previous quarter (Q3 2025), and a 17.63% increase year-over-year (Q4 2024).

What is Plug Power’s revenue growth rate?

Plug Power's revenue growth rate for the last 3 years (2023-2025) was -20.35%, and for the last 5 years (2021-2025) was 41.32%.

What are Plug Power’s revenue streams?

Plug Power's revenue streams in c 25 are Sale of cryogenic equipment, Sale Of Electrolyzers, Sale Of Engineered Equipment, Sale Of Hydrogen Infrastructure, Services Performed On Fuel Cell Systems And Related Infrastructure, Sales Of Fuel Cell Systems, Fuel Delivered To Customers, Other Product And Services, and Power Purchase Agreements. Sale of cryogenic equipment generated $95.68M in revenue, accounting 13.48% of the company's total revenue, down -14.19% year-over-year. Sale Of Electrolyzers generated $187.78M in revenue, accounting 26.45% of the company's total revenue, up 38.58% year-over-year. Sale Of Engineered Equipment generated $6.85M in revenue, accounting 0.97% of the company's total revenue, down -68.98% year-over-year. Sale Of Hydrogen Infrastructure generated $26.75M in revenue, accounting 3.77% of the company's total revenue, down -61.30% year-over-year. Services Performed On Fuel Cell Systems And Related Infrastructure generated $94.46M in revenue, accounting 13.31% of the company's total revenue, up 81.07% year-over-year. Sales Of Fuel Cell Systems generated $54.01M in revenue, accounting 7.61% of the company's total revenue, down -73.34% year-over-year. Fuel Delivered To Customers generated $133.41M in revenue, accounting 18.79% of the company's total revenue, up 36.30% year-over-year. Other Product And Services generated $3.39M in revenue, accounting 0.48% of the company's total revenue, down -67.95% year-over-year. Power Purchase Agreements generated $107.57M in revenue, accounting 15.15% of the company's total revenue, up 38.19% year-over-year.

What is Plug Power’s main source of revenue?

For the fiscal year ending Dec 25, the largest source of revenue of Plug Power was Sale Of Electrolyzers. This segment made a revenue of $187.78M, representing 26.45% of the company's total revenue.