Plug Power (PLUG) Revenue & Revenue Breakdown
Plug Power Revenue Highlights
Latest Revenue (Q)
$143.35M
Main Segment (Y)
Power purchase agreements
Main Geography (Y)
North America
Plug Power Revenue by Period
Plug Power Revenue by Year
| Date | Revenue | Change |
|---|---|---|
| 2023-12-31 | - | -100.00% |
| 2022-12-31 | $701.44M | 39.63% |
| 2021-12-31 | $502.34M | -600.00% |
| 2020-12-31 | $-100.47M | -143.64% |
| 2019-12-31 | $230.24M | 31.84% |
| 2018-12-31 | $174.63M | 31.37% |
| 2017-12-31 | $132.93M | 54.70% |
| 2016-12-31 | $85.93M | -16.81% |
| 2015-12-31 | $103.29M | 60.81% |
| 2014-12-31 | $64.23M | 141.46% |
| 2013-12-31 | $26.60M | 1.89% |
| 2012-12-31 | $26.11M | -5.49% |
| 2011-12-31 | $27.63M | 41.87% |
| 2010-12-31 | $19.47M | 58.41% |
| 2009-12-31 | $12.29M | -31.33% |
| 2008-12-31 | $17.90M | 10.02% |
| 2007-12-31 | $16.27M | 107.65% |
| 2006-12-31 | $7.84M | -41.90% |
| 2005-12-31 | $13.49M | -16.45% |
| 2004-12-31 | $16.14M | 29.11% |
| 2003-12-31 | $12.50M | 5.79% |
| 2002-12-31 | $11.82M | 105.84% |
| 2001-12-31 | $5.74M | -31.47% |
| 2000-12-31 | $8.38M | -23.83% |
| 1999-12-31 | $11.00M | 69.23% |
| 1998-12-31 | $6.50M | - |
Plug Power generated - in revenue during NA 2023, up -100.00% compared to the previous quarter, and up 0.00% compared to the same period a year ago.
Plug Power Revenue by Quarter
| Date | Revenue | Change |
|---|---|---|
| 2024-06-30 | $143.35M | 19.20% |
| 2024-03-31 | $120.26M | -45.87% |
| 2023-12-31 | $222.16M | 11.80% |
| 2023-09-30 | $198.71M | -23.63% |
| 2023-06-30 | $260.18M | 23.73% |
| 2023-03-31 | $210.29M | -4.74% |
| 2022-12-31 | $220.74M | 17.03% |
| 2022-09-30 | $188.63M | 24.70% |
| 2022-06-30 | $151.27M | 7.43% |
| 2022-03-31 | $140.80M | -13.03% |
| 2021-12-31 | $161.91M | 12.49% |
| 2021-09-30 | $143.92M | 15.55% |
| 2021-06-30 | $124.56M | 73.10% |
| 2021-03-31 | $71.96M | -122.75% |
| 2020-12-31 | $-316.34M | -395.68% |
| 2020-09-30 | $106.99M | 57.17% |
| 2020-06-30 | $68.07M | 66.79% |
| 2020-03-31 | $40.81M | -58.44% |
| 2019-12-31 | $98.20M | 74.19% |
| 2019-09-30 | $56.38M | -1.21% |
| 2019-06-30 | $57.07M | 206.93% |
| 2019-03-31 | $18.59M | -68.92% |
| 2018-12-31 | $59.82M | 12.52% |
| 2018-09-30 | $53.16M | 33.16% |
| 2018-06-30 | $39.93M | 37.30% |
| 2018-03-31 | $29.08M | -13.61% |
| 2017-12-31 | $33.66M | -45.20% |
| 2017-09-30 | $61.43M | 171.75% |
| 2017-06-30 | $22.60M | 48.37% |
| 2017-03-31 | $15.23M | -53.24% |
| 2016-12-31 | $32.58M | 85.53% |
| 2016-09-30 | $17.56M | -14.17% |
| 2016-06-30 | $20.46M | 33.44% |
| 2016-03-31 | $15.33M | -60.11% |
| 2015-12-31 | $38.43M | 22.27% |
| 2015-09-30 | $31.43M | 30.92% |
| 2015-06-30 | $24.01M | 154.99% |
| 2015-03-31 | $9.42M | -56.11% |
| 2014-12-31 | $21.45M | 7.91% |
| 2014-09-30 | $19.88M | 14.78% |
| 2014-06-30 | $17.32M | 210.73% |
| 2014-03-31 | $5.57M | -30.60% |
| 2013-12-31 | $8.03M | 73.60% |
| 2013-09-30 | $4.63M | -38.29% |
| 2013-06-30 | $7.50M | 16.33% |
| 2013-03-31 | $6.45M | 8.84% |
| 2012-12-31 | $5.92M | 23.99% |
| 2012-09-30 | $4.78M | -37.65% |
| 2012-06-30 | $7.66M | -1.20% |
| 2012-03-31 | $7.75M | -34.68% |
| 2011-12-31 | $11.87M | 116.94% |
| 2011-09-30 | $5.47M | 25.85% |
| 2011-06-30 | $4.35M | -26.85% |
| 2011-03-31 | $5.94M | -4.85% |
| 2010-12-31 | $6.24M | 8.55% |
| 2010-09-30 | $5.75M | 85.35% |
| 2010-06-30 | $3.10M | 12.98% |
| 2010-03-31 | $2.75M | -29.69% |
| 2009-12-31 | $3.91M | 53.71% |
| 2009-09-30 | $2.54M | -21.08% |
| 2009-06-30 | $3.22M | 22.88% |
| 2009-03-31 | $2.62M | -50.33% |
| 2008-12-31 | $5.28M | 30.17% |
| 2008-09-30 | $4.05M | -16.11% |
| 2008-06-30 | $4.83M | 29.33% |
| 2008-03-31 | $3.74M | -26.70% |
| 2007-12-31 | $5.10M | - |
Plug Power generated $143.35M in revenue during Q2 2024, up 19.20% compared to the previous quarter, and up 68.17% compared to the same period a year ago.
Plug Power Revenue Breakdown
Plug Power Revenue Breakdown by Product
Annual Revenue by Product
| Product/Service | Dec 23 | Dec 22 | Dec 21 | Dec 20 | Dec 19 |
|---|---|---|---|---|---|
| Sale of electrolyzers | $301.32M | $303.04M | $49.16M | - | - |
| Services performed on fuel cell systems and related infrastructure | $123.08M | $126.81M | $102.36M | - | - |
| Sale of hydrogen infrastructure | $183.61M | $141.53M | $135.06M | - | - |
| Power purchase agreements | $435.97M | $375.80M | - | - | - |
| Other | $10.84M | $2.85M | $22.75M | - | - |
| Fuel delivered to customers and related equipment | $95.44M | $93.80M | - | - | - |
| Sales of fuel cell systems | $181.17M | $38.23M | $23.14M | - | - |
| Sale of cryogenic equipment | - | $193.64M | $46.51M | - | - |
| Sale of solutions | - | - | $7.57M | - | - |
| Fuel delivered to customers | - | - | $61.60M | - | - |
| Power Purchase Agreements | - | - | $249.06M | $178.45M | $133.47M |
| Other Product And Services | - | - | - | $3.29M | $4.99M |
| Services Performed On Fuel Cell Systems And Related Infrastructure | - | - | - | $75.47M | $87.02M |
| Sales Of Fuel Cell Systems | - | - | - | $16.21M | $73.49M |
| Sale Of Hydrogen Installations And Other Infrastructure | - | - | - | $28.28M | $72.86M |
| Sale Of Fuel Cell Systems And Other Infrastructure | - | - | - | $-94.30M | - |
| Fuel Delivered To Customers | - | - | - | $65.70M | $29.10M |
Plug Power's latest annual revenue breakdown by segment (product or service), as of Dec 23: Power purchase agreements (32.74%), Sale of electrolyzers (22.63%), Sale of hydrogen infrastructure (13.79%), Sales of fuel cell systems (13.61%), Services performed on fuel cell systems and related infrastructure (9.24%), Fuel delivered to customers and related equipment (7.17%), and Other (0.81%).
Quarterly Revenue by Product
| Product/Service | Mar 24 | Dec 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | Sep 20 | Jun 20 | Mar 20 | Dec 19 | Sep 19 | Jun 19 | Mar 19 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Services performed on fuel cell systems and related infrastructure | $142.11M | - | $124.77M | $121.42M | $9.81M | $121.76M | $93.37M | $98.64M | $8.31M | - | - | - | - | - | - | - | - | - | - | - |
| Fuel delivered to customers and related equipment | $93.69M | - | $95.18M | $92.47M | $16.91M | $90.92M | $81.78M | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other | $2.36M | $8.63M | $1.19M | $1.02M | $1.70M | $324.00K | $571.00K | $251.00K | $110.00K | - | - | - | - | - | - | - | - | - | - | - |
| Power purchase agreements | $419.41M | - | $402.75M | $385.10M | $16.45M | $319.74M | $252.00M | $255.93M | - | - | - | - | - | - | - | - | - | - | - | - |
| Sale of electrolyzers | $303.13M | - | $224.30M | $281.72M | $13.89M | $266.74M | $77.06M | $51.27M | - | - | - | - | - | - | - | - | - | - | - | - |
| Sale of hydrogen infrastructure | $12.29M | $76.09M | $58.65M | $48.87M | $44.89M | $37.14M | $32.41M | $27.09M | - | - | - | - | - | - | - | - | - | - | - | - |
| Sales of fuel cell systems | $55.67M | $62.38M | $65.21M | $53.58M | $60.83M | $26.55M | $14.76M | $16.47M | $72.61M | - | - | - | - | - | - | - | - | - | - | - |
| Sale of cryogenic equipment | - | - | - | - | $38.85M | $50.67M | $59.60M | $62.30M | - | - | - | - | - | - | - | - | - | - | - | - |
| Fuel delivered to customers | - | - | - | - | - | - | - | $13.43M | $13.11M | - | - | - | - | - | - | - | - | - | - | - |
| Sale of oil and gas equipment | - | - | - | - | - | - | - | $73.27M | - | - | - | - | - | - | - | - | - | - | - | - |
| Power Purchase Agreements | - | - | - | - | - | - | - | - | $9.64M | $212.36M | $196.90M | $185.43M | $6.99M | $177.72M | $151.79M | $142.00M | $6.74M | $134.87M | $121.74M | $105.44M |
| Other Product And Services | - | - | - | - | - | - | - | - | - | $2.12M | $2.50M | $2.89M | $76.00K | $3.71M | $4.12M | $4.53M | $51.00K | $5.37M | - | - |
| Fuel Delivered To Customers | - | - | - | - | - | - | - | - | - | $62.61M | $63.63M | $64.56M | $-40.61M | $9.83M | $7.37M | $7.33M | $7.78M | $6.56M | $6.93M | $5.45M |
| Sales Of Fuel Cell Systems | - | - | - | - | - | - | - | - | - | $23.82M | $55.35M | $66.03M | $-162.87M | $50.28M | $71.40M | $76.43M | $58.69M | $25.95M | $16.47M | $26.35M |
| Services Performed On Fuel Cell Systems And Related Infrastructure | - | - | - | - | - | - | - | - | - | $105.55M | $103.50M | $105.85M | $-29.39M | $86.54M | $94.72M | $97.53M | $7.33M | $60.20M | $61.60M | $68.88M |
| Sale Of Hydrogen Installations And Other Infrastructure | - | - | - | - | - | - | - | - | - | $58.43M | $52.19M | $69.68M | $-83.09M | $62.70M | $71.75M | $69.44M | $12.26M | $11.45M | $10.07M | $9.07M |
| Sale Of Fuel Cell Systems And Other Infrastructure | - | - | - | - | - | - | - | - | - | - | - | - | $-246.17M | - | - | - | - | - | - | - |
Plug Power's latest quarterly revenue breakdown by segment (product or service), as of Mar 24: Power purchase agreements (40.77%), Sale of electrolyzers (29.47%), Services performed on fuel cell systems and related infrastructure (13.82%), Fuel delivered to customers and related equipment (9.11%), Sales of fuel cell systems (5.41%), Sale of hydrogen infrastructure (1.20%), and Other (0.23%).
Plug Power Revenue Breakdown by Country
Annual Revenue by Country
| Country | Dec 23 | Dec 22 | Dec 21 |
|---|---|---|---|
| Asia | $13.94M | $50.50M | - |
| North America | $751.42M | $579.22M | $476.25M |
| Europe | $112.89M | $46.03M | - |
| Other. | - | $25.69M | - |
| Other Member | - | - | $26.10M |
Plug Power's latest annual revenue breakdown by geography, as of Dec 23: North America (85.56%), Europe (12.85%), and Asia (1.59%).
Quarterly Revenue by Country
| Country | Mar 24 | Dec 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 |
|---|---|---|---|---|---|---|---|---|
| Asia | $5.07M | $4.68M | $6.00M | $3.25M | - | - | - | - |
| North America | $105.91M | $354.09M | $235.52M | $161.81M | $193.60M | $157.43M | $115.21M | $113.68M |
| Europe | $8.57M | $60.60M | $12.14M | $40.15M | - | - | - | - |
| Other. | - | - | $6.52M | $5.07M | $-69.39M | - | - | - |
| Other Member | - | - | - | - | - | $31.20M | $36.05M | $27.13M |
Plug Power's latest quarterly revenue breakdown by geography, as of Mar 24: North America (88.59%), Europe (7.17%), and Asia (4.24%).
Plug Power Peer Comparison by Revenue
| Ticker | Company | Last Year Revenue | Last Quarter Revenue |
|---|---|---|---|
| BE | Bloom Energy | $1.33B | $335.77M |
| MVST | Microvast | $306.62M | $83.67M |
| CBAT | CBAK Energy | $204.44M | $47.79M |
| FCEL | FuelCell Energy | $123.39M | $23.70M |
| DFLI | Dragonfly Energy | $64.39M | $13.21M |
| SLDP | Solid Power | $17.41M | $5.08M |
| EOSE | Eos Energy Enterprises | $16.38M | $898.00K |
| ENVX | Enovix | $263.00K | $200.00K |
| FREY | FREYR Battery | - | - |
| PLUG | Plug Power | - | $143.35M |
PLUG Revenue FAQ
What is Plug Power’s yearly revenue?
Plug Power's yearly revenue for 2023 was $0, representing a decrease of -100.00% compared to 2022. The company's yearly revenue for 2022 was $701.44M, representing an increase of 39.63% compared to 2021. PLUG's yearly revenue for 2021 was $502.34M, representing a decrease of -600.00% compared to 2020.
What is Plug Power’s quarterly revenue?
Plug Power's quarterly revenue for Q2 2024 was $143.35M, a 19.20% increase from the previous quarter (Q1 2024), and a -44.90% decrease year-over-year (Q2 2023). The company's quarterly revenue for Q1 2024 was $120.26M, a -45.87% decrease from the previous quarter (Q4 2023), and a -42.81% decrease year-over-year (Q1 2023). PLUG's quarterly revenue for Q4 2023 was $222.16M, a 11.80% increase from the previous quarter (Q3 2023), and a 0.64% increase year-over-year (Q4 2022).
What is Plug Power’s revenue growth rate?
Plug Power's revenue growth rate for the last 3 years (2021-2023) was -100.00%, and for the last 5 years (2019-2023) was -100.00%.
What are Plug Power’s revenue streams?
Plug Power's revenue streams in c 23 are Sale of electrolyzers, Services performed on fuel cell systems and related infrastructure, Sale of hydrogen infrastructure, Power purchase agreements, Other, Fuel delivered to customers and related equipment, and Sales of fuel cell systems. Sale of electrolyzers generated $301.32M in revenue, accounting 22.63% of the company's total revenue, down -0.57% year-over-year. Services performed on fuel cell systems and related infrastructure generated $123.08M in revenue, accounting 9.24% of the company's total revenue, down -2.94% year-over-year. Sale of hydrogen infrastructure generated $183.61M in revenue, accounting 13.79% of the company's total revenue, up 29.73% year-over-year. Power purchase agreements generated $435.97M in revenue, accounting 32.74% of the company's total revenue, up 16.01% year-over-year. Other generated $10.84M in revenue, accounting 0.81% of the company's total revenue, up 280.38% year-over-year. Fuel delivered to customers and related equipment generated $95.44M in revenue, accounting 7.17% of the company's total revenue, up 1.75% year-over-year. Sales of fuel cell systems generated $181.17M in revenue, accounting 13.61% of the company's total revenue, up 373.84% year-over-year.
What is Plug Power’s main source of revenue?
For the fiscal year ending Dec 23, the largest source of revenue of Plug Power was Power purchase agreements. This segment made a revenue of $435.97M, representing 32.74% of the company's total revenue.