Plug Power (PLUG) Cost of Revenue (2010 - 2026)

Plug Power (PLUG) has 17 years of Cost of Revenue data on file, last reported at $185.1 million in Q1 2026.

• Cost of Revenue for Q1 2026 came in at $185.1 million, down 10.8% year-over-year; the trailing twelve-month figure through Mar 2026 was $929.5 million (down 21.35% YoY), and the FY2025 annual result was $952.0 million, down 24.07% from the prior year.
• Cost of Revenue declined to $185.1 million in Q1 2026 per PLUG's latest filing, from $219.8 million in the prior quarter.
• Over five years, Cost of Revenue peaked at $444.4 million in Q4 2023 and troughed at $176.2 million in Q1 2022.
• A 5-year average of $275.6 million and a median of $274.6 million in 2024 frame the typical range for Cost of Revenue.
• The sharpest annual moves came in 2022 and 2025: Cost of Revenue soared 109.38% in 2022, then slumped 48.41% in 2025.
• A 5-year view of Cost of Revenue shows it stood at $301.2 million in 2022, then soared by 47.55% to $444.4 million in 2023, then decreased by 4.15% to $426.0 million in 2024, then tumbled by 48.41% to $219.8 million in 2025, then dropped by 15.77% to $185.1 million in 2026.
• Business Quant data shows PLUG's Cost of Revenue at $185.1 million in Q1 2026, $219.8 million in Q4 2025, and $297.2 million in Q3 2025.