Plug Power (PLUG) Revenue & Revenue Breakdown

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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
Power purchase agreements	$435.97M	$375.80M	-	-	-
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	-	-
Sale of electrolyzers	$301.32M	$303.04M	$49.16M	-	-
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	-	-
Power Purchase Agreements	-	-	$249.06M	$178.45M	$133.47M
Fuel delivered to customers	-	-	$61.60M	-	-
Sale of solutions	-	-	$7.57M	-	-
Fuel Delivered To Customers	-	-	-	$65.70M	$29.10M
Other Product And Services	-	-	-	$3.29M	$4.99M
Sale Of Fuel Cell Systems And Other Infrastructure	-	-	-	$-94.30M	-
Sale Of Hydrogen Installations And Other Infrastructure	-	-	-	$28.28M	$72.86M
Sales Of Fuel Cell Systems	-	-	-	$16.21M	$73.49M
Services Performed On Fuel Cell Systems And Related Infrastructure	-	-	-	$75.47M	$87.02M

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	Sep 24	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
Other Product And Services	$2.19M	$2.12M	$2.50M	$2.89M	$76.00K	$3.71M	$4.12M	$4.53M	$51.00K	$5.37M	-	-	-	-	-	-	-	-	-	-
Services Performed On Fuel Cell Systems And Related Infrastructure	$131.11M	$105.55M	$103.50M	$105.85M	$-29.39M	$86.54M	$94.72M	$97.53M	$7.33M	$60.20M	$61.60M	-	-	-	-	-	-	-	-	-
Power Purchase Agreements	$375.12M	$9.64M	$212.36M	$196.90M	$185.43M	$6.99M	$177.72M	$151.79M	$142.00M	$6.74M	$134.87M	$121.74M	-	-	-	-	-	-	-	-
Sales Of Fuel Cell Systems	$191.87M	$23.82M	$55.35M	$66.03M	$-162.87M	$50.28M	$71.40M	$76.43M	$58.69M	$25.95M	$16.47M	-	-	-	-	-	-	-	-	-
Sale of electrolyzers	-	$303.13M	-	$224.30M	$281.72M	$13.89M	$266.74M	$77.06M	$51.27M	-	-	-	-	-	-	-	-	-	-	-
Power purchase agreements	-	$419.41M	-	$402.75M	$385.10M	$16.45M	$319.74M	$252.00M	$255.93M	-	-	-	-	-	-	-	-	-	-	-
Other	-	$2.36M	$8.63M	$1.19M	$1.02M	$1.70M	$324.00K	$571.00K	$251.00K	$110.00K	-	-	-	-	-	-	-	-	-	-
Fuel delivered to customers and related equipment	-	$93.69M	-	$95.18M	$92.47M	$16.91M	$90.92M	$81.78M	-	-	-	-	-	-	-	-	-	-	-	-
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	-	-	-	-	-	-	-	-	-	-
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	-	-	-	-	-	-	-	-	-	-	-
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
Fuel Delivered To Customers	-	-	-	-	-	-	-	-	-	-	$62.61M	$63.63M	$64.56M	$-40.61M	$9.83M	$7.37M	$7.33M	$7.78M	$6.56M	$6.93M
Sale Of Fuel Cell Systems And Other Infrastructure	-	-	-	-	-	-	-	-	-	-	-	-	-	$-246.17M	-	-	-	-	-	-

Plug Power's latest quarterly revenue breakdown by segment (product or service), as of Sep 24: Power Purchase Agreements (53.57%), Sales Of Fuel Cell Systems (27.40%), Services Performed On Fuel Cell Systems And Related Infrastructure (18.72%), and Other Product And Services (0.31%).

Plug Power Revenue Breakdown by Country

Annual Revenue by Country

Country	Dec 23	Dec 22	Dec 21
Europe	$112.89M	$46.03M	-
North America	$751.42M	$579.22M	$476.25M
Asia	$13.94M	$50.50M	-
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	Sep 24	Mar 24	Dec 23	Jun 23	Mar 23	Dec 22	Sep 22	Jun 22	Mar 22
Asia	$11.15M	$5.07M	$4.68M	$6.00M	$3.25M	-	-	-	-
Europe	$50.96M	$8.57M	$60.60M	$12.14M	$40.15M	-	-	-	-
North America	$107.80M	$105.91M	$354.09M	$235.52M	$161.81M	$193.60M	$157.43M	$115.21M	$113.68M
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 Sep 24: North America (63.44%), Europe (29.99%), and Asia (6.57%).

Plug Power Peer Comparison by Revenue

Ticker	Company	Last Year Revenue	Last Quarter Revenue
BE	Bloom Energy	$1.33B	$330.40M
MVST	Microvast	$306.62M	$101.39M
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	$15.68M
EOSE	Eos Energy Enterprises	$16.38M	$854.00K
ENVX	Enovix	$263.00K	$3.77M
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 Power purchase agreements, Services performed on fuel cell systems and related infrastructure, Sale of hydrogen infrastructure, Sale of electrolyzers, Other, Fuel delivered to customers and related equipment, and Sales of fuel cell systems. Power purchase agreements generated $435.97M in revenue, accounting 32.74% of the company's total revenue, up 16.01% 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. Sale of electrolyzers generated $301.32M in revenue, accounting 22.63% of the company's total revenue, down -0.57% 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.