Plug Power (PLUG) Operating Expenses (2010 - 2026)

Plug Power (PLUG) has 17 years of Operating Expenses data on file, last reported at $87.9 million in Q1 2026.

• Quarterly Operating Expenses fell 15.98% year-over-year to $87.9 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $1.2 billion (down 13.62% YoY) and the FY2025 annual result came in at $1.2 billion, down 12.16% from the prior year.
• Operating Expenses declined to $87.9 million in Q1 2026 per PLUG's latest filing, from $768.6 million in the prior quarter.
• Across five years, Operating Expenses topped out at $1.1 billion in Q4 2024 and bottomed at $87.9 million in Q1 2026.
• The 5-year median for Operating Expenses is $123.5 million (2025), against an average of $237.0 million.
• The widest annual swing landed in 2022, when Operating Expenses jumped 187.48%; it then decreased 28.54% in 2024.
• Tracing PLUG's Operating Expenses over 5 years: stood at $153.3 million in 2022, then jumped by 163.37% to $403.6 million in 2023, then surged by 163.87% to $1.1 billion in 2024, then declined by 27.83% to $768.6 million in 2025, then tumbled by 88.57% to $87.9 million in 2026.
• Per Business Quant, the three latest PLUG Operating Expenses figures stand at $87.9 million (Q1 2026), $768.6 million (Q4 2025), and $228.6 million (Q3 2025).

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