Quarterly ResultMay 11, 2026, 04:53 PM
Plug Power Q1 Revenue $163.5M; Net Loss $(246M); Cash Declines
AI Summary
Plug Power reported a net loss of $(246.0) million for the first quarter of 2026, an increase from $(196.9) million in Q1 2025, despite a rise in net revenue to $163.5 million from $133.7 million year-over-year. The company's cash and cash equivalents significantly decreased to $223.2 million as of March 31, 2026, from $368.5 million at the end of 2025, with net cash used in operating activities increasing to $(150.0) million. Plug Power continues to experience negative cash flows and net losses, but believes it has sufficient capital for at least 12 months, supported by existing equity offering programs.
Key Highlights
- Net loss increased to $(246.0) million in Q1 2026 from $(196.9) million in Q1 2025.
- Net revenue grew to $163.5 million in Q1 2026, up from $133.7 million in Q1 2025.
- Cash and cash equivalents decreased to $223.2 million as of March 31, 2026, from $368.5 million.
- Net cash used in operating activities was $(150.0) million in Q1 2026, up from $(105.6) million.
- Gross loss significantly reduced to $(21.6) million in Q1 2026 from $(73.9) million.
- Operating loss improved to $(109.5) million in Q1 2026 from $(178.5) million.
- Basic and diluted net loss per share improved to $(0.18) in Q1 2026 from $(0.21).
- $944.1 million remains available under the "at-the-market" equity offering program.
Price Impact
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