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Plug Power (PLUG) Research & Development (2016 - 2025)

Plug Power (PLUG) has disclosed Research & Development for 16 consecutive years, with $12.3 million as the latest value for Q4 2025.

  • Quarterly Research & Development fell 7.54% to $12.3 million in Q4 2025 from the year-ago period, while the trailing twelve-month figure was $58.0 million through Dec 2025, down 24.95% year-over-year, with the annual reading at $58.0 million for FY2025, 24.95% down from the prior year.
  • Research & Development for Q4 2025 was $12.3 million at Plug Power, down from $16.1 million in the prior quarter.
  • The five-year high for Research & Development was $30.3 million in Q4 2023, with the low at $9.7 million in Q1 2021.
  • Average Research & Development over 5 years is $20.7 million, with a median of $20.1 million recorded in 2022.
  • The sharpest move saw Research & Development soared 150.94% in 2021, then crashed 56.14% in 2024.
  • Over 5 years, Research & Development stood at $27.1 million in 2021, then grew by 1.17% to $27.5 million in 2022, then grew by 10.39% to $30.3 million in 2023, then tumbled by 56.14% to $13.3 million in 2024, then dropped by 7.54% to $12.3 million in 2025.
  • According to Business Quant data, Research & Development over the past three periods came in at $12.3 million, $16.1 million, and $12.2 million for Q4 2025, Q3 2025, and Q2 2025 respectively.