Plug Reports Third Quarter Revenue of ~$201 Million, ~65 Percentage Point YoY Gross Margin Improvement, Record-Low Net Cash Usage with ~54% reduction sequentially
Key Highlights
- ➤Revenue ~$201 million, up approximately 13% year over year
- ➤Gross margin improved to ~(3%) from ~(68%) year over year
- ➤Net cash usage fell approximately 54% sequentially to ~$28 million
- ➤Plug maintained 2026 revenue growth guidance of 15% to 16%
- ➤Plug targets positive EBITDAS in Q4 2026
Expert Statements
Jose Luis Crespo, Chief Executive Officer of Plug
“Our third quarter results reflect continued progress toward a stronger, more profitable Plug”
Jose Luis Crespo, Chief Executive Officer of Plug
“We grew revenue, improved margins, and significantly reduced cash usage through disciplined execution.”
Jose Luis Crespo, Chief Executive Officer of Plug
“Commercially, we advanced key customer projects, including our 280 MW Arcadia eFuels agreement and broader partnership covering more than 1 GW of potential projects.”
Jose Luis Crespo, Chief Executive Officer of Plug
“Our focus remains on improving operating leverage, delivering on customer commitments and building sustainable growth.”
SLINGERLANDS, N.Y., Nov. 09, 2026 (GLOBE NEWSWIRE) -- Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the hydrogen economy, today reported third quarter 2026 results, delivering approximately $201 million in revenue, significant year-over-year gross margin improvement, and record-low quarterly net cash usage of approximately $28 million.
Results reflect continued progress across Plug's three business priorities: sales growth, margin enhancement, and improved cash flows, supported by disciplined execution, and commercial progress across material handling, electrolyzers and hydrogen supply.
Get started
Create a free account to read the full story.