Flagship explainer
How Plug Power Inc. makes its money
Start with a dollar of revenue and follow what the filing says remains.
Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.
| Filed line | Value | % of revenue | Source |
|---|---|---|---|
| $710M | 100% |
| |
| Cost of revenue | $952M | 134% |
|
| −$242M | −34% |
| |
| −$1.5B | −207% |
| |
| Income before tax | −$1.7B | −239% |
|
| Income tax | $356000 | 0% |
|
| −$1.6B | −230% |
|
Source:
- SEC filing · FY 2025Filing detailsAccession 0001104659-26-022286