Plug Power Q1 2026: revenue $163.5M (+22% YoY), adjusted EPS ($0.08) vs ($0.17)

PLUG POWER INC

2026-Q1 EPS reported -$0.18 vs consensus -$0.10 ▼ miss (-86.9%)

Revenue $163.5M, +22% YoY; GAAP gross margin improved 42pp to (13%) from (55%).
GAAP EPS ($0.18) vs ($0.21) YoY; adjusted EPS improved to ($0.08) from ($0.17).
Total cash $802M ($223M unrestricted, $579M restricted); targeting positive EBITDAS in Q4 2026.
Expects ~$142M from first hydrogen project asset monetization closing June 2026; $39.2M tax credit sale by end of May.
GenDrive service costs down 30% YoY; hydrogen fuel sales up 22%; margin rate improved 54pp.

item 2.02item 9.01

Source: SEC EDGAR

accession 0001104659-26-058615

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