Growth Metrics

Plug Power (PLUG) Cost of Revenue (2016 - 2025)

Plug Power (PLUG) has disclosed Cost of Revenue for 16 consecutive years, with $219.8 million as the latest value for Q4 2025.

  • Quarterly Cost of Revenue fell 48.41% to $219.8 million in Q4 2025 from the year-ago period, while the trailing twelve-month figure was $952.0 million through Dec 2025, down 24.07% year-over-year, with the annual reading at $952.0 million for FY2025, 24.07% down from the prior year.
  • Cost of Revenue for Q4 2025 was $219.8 million at Plug Power, down from $297.2 million in the prior quarter.
  • The five-year high for Cost of Revenue was $444.4 million in Q4 2023, with the low at $84.1 million in Q1 2021.
  • Average Cost of Revenue over 5 years is $258.7 million, with a median of $261.7 million recorded in 2021.
  • The sharpest move saw Cost of Revenue surged 142.4% in 2021, then tumbled 48.41% in 2025.
  • Over 5 years, Cost of Revenue stood at $249.7 million in 2021, then grew by 20.65% to $301.2 million in 2022, then surged by 47.55% to $444.4 million in 2023, then dropped by 4.15% to $426.0 million in 2024, then tumbled by 48.41% to $219.8 million in 2025.
  • According to Business Quant data, Cost of Revenue over the past three periods came in at $219.8 million, $297.2 million, and $227.4 million for Q4 2025, Q3 2025, and Q2 2025 respectively.