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Plug Power (PLUG) Operating Expenses (2016 - 2025)

Plug Power (PLUG) has disclosed Operating Expenses for 16 consecutive years, with $768.6 million as the latest value for Q4 2025.

  • Quarterly Operating Expenses fell 27.83% to $768.6 million in Q4 2025 from the year-ago period, while the trailing twelve-month figure was $1.2 billion through Dec 2025, down 12.16% year-over-year, with the annual reading at $1.2 billion for FY2025, 12.16% down from the prior year.
  • Operating Expenses for Q4 2025 was $768.6 million at Plug Power, up from $228.6 million in the prior quarter.
  • The five-year high for Operating Expenses was $1.1 billion in Q4 2024, with the low at $36.1 million in Q1 2021.
  • Average Operating Expenses over 5 years is $210.4 million, with a median of $115.3 million recorded in 2022.
  • The sharpest move saw Operating Expenses skyrocketed 187.48% in 2022, then decreased 28.54% in 2024.
  • Over 5 years, Operating Expenses stood at $113.0 million in 2021, then skyrocketed by 35.65% to $153.3 million in 2022, then surged by 163.37% to $403.6 million in 2023, then soared by 163.87% to $1.1 billion in 2024, then fell by 27.83% to $768.6 million in 2025.
  • According to Business Quant data, Operating Expenses over the past three periods came in at $768.6 million, $228.6 million, and $123.5 million for Q4 2025, Q3 2025, and Q2 2025 respectively.