---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-057472"
form_type: "8-K"
ticker: "PLUG"
cik: "0001093691"
company_name: "PLUG POWER INC"
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T08:04:28.396421+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Plug Power Q1 revenue $210.3M (+49% YoY); reaffirms 2023 goals; 2024 revenue target $1.4B

## Summary
- Revenue $210.3M, up 49% YoY from $140.8M; gross margin negative 33%, improved 3% sequentially.
- Delivered 62MW of electrolyzers in Q1, more than all of 2022; added 14 material handling sites.
- Signed STEF as new pedestal customer in France; plans 8 new European sites in 2023.
- Gigafactory on track to produce 100MW electrolyzer stacks per month by May 2023; 200+ TPD hydrogen capacity by year-end.
- Presentation introduces 2024 revenue target of $1.4B (base case) with gross margin $140M.

## SEC filing metadata
- accession: 0001104659-23-057472
- form_type: 8-K
- ticker: PLUG
- cik: 0001093691
- company_name: PLUG POWER INC
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1093691/000110465923057472/0001104659-23-057472-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1093691/000110465923057472/tm2315057d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-057472
- JSON: https://secwatch.observer/filing/0001104659-23-057472.json
- Plain text: https://secwatch.observer/filing/0001104659-23-057472.txt

## Key facts
- Earnings Releases
  PLUG POWER INC updated its first quarter ended March 31, 2023 guidance (reaffirmed).
  - Period: first quarter ended March 31, 2023
  - Guidance: reaffirmed
  - Result: reported results
  source text: On May 9, 2023, Plug Power Inc., a Delaware corporation (the “Company”), issued a press release regarding its financial results for the first quarter ended March 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1093691/000110465923057472/0001104659-23-057472-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.