---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-109120"
form_type: "8-K"
ticker: "PLUG"
cik: "0001093691"
company_name: "PLUG POWER INC"
filed_at: "2025-11-10T23:59:59+00:00"
generated_at: "2026-05-16T22:13:22.898521+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Plug Power Q3 revenue $177M, adjusted EPS loss narrows to $0.12, cash burn improves 49%

## Summary
- Revenue $177M; GenEco electrolyzer revenue ~$65M (+46% seq, +13% YoY).
- GAAP net loss per share $0.31 vs $0.25 in Q3 2024; adjusted EPS loss $0.12 vs $0.23.
- Cash from ops burn ~$90M, down 49% YoY; unrestricted cash $166M; subsequent ~$370M warrant exercise.
- Adjusted gross loss improved to $37M from $86M in Q3 2024; GAAP gross loss $120M.
- ~$226M in non-cash Project Quantum Leap charges; company targets EBITDAS-positive H2 2026.

## SEC filing metadata
- accession: 0001104659-25-109120
- form_type: 8-K
- ticker: PLUG
- cik: 0001093691
- company_name: PLUG POWER INC
- filed_at: 2025-11-10T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1093691/000110465925109120/0001104659-25-109120-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1093691/000110465925109120/tm2530762d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-109120
- JSON: https://secwatch.observer/filing/0001104659-25-109120.json
- Plain text: https://secwatch.observer/filing/0001104659-25-109120.txt

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