---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-058615"
form_type: "8-K"
ticker: "PLUG"
cik: "0001093691"
company_name: "PLUG POWER INC"
filed_at: "2026-05-11T20:01:39+00:00"
generated_at: "2026-05-11T23:05:51.192403+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-26-058615
- form_type: 8-K
- ticker: PLUG
- cik: 0001093691
- company_name: PLUG POWER INC
- filed_at: 2026-05-11T20:01:39+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1093691/000110465926058615/0001104659-26-058615-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1093691/000110465926058615/tm2614034d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-058615
- JSON: https://secwatch.observer/filing/0001104659-26-058615.json
- Plain text: https://secwatch.observer/filing/0001104659-26-058615.txt

## Key facts
- Earnings Releases
  PLUG POWER INC reported first quarter ended March 31, 2026 results: revenue $163.5 million, EPS ($0.18).
  - Period: first quarter ended March 31, 2026
  - Revenue: $163.5 million
  - EPS: ($0.18)
  - Result: reported results
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1093691/000110465926058615/0001104659-26-058615-index.htm

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