Plug Power Inc (PLUG) stock
PLUGNasdaqElectrical Industrial ApparatusFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 9, 2026Score 6/3030% below fair value
$1.35−0.01 (-0.73%)
Close on Nov 11, 2026Market cap $1.89BP/E –Yield –
Plug Power r&d expenses
Research and development expenses are spending on new products and technology.
Plug Power's R&D Expenses for the twelve months ending Sep 30, 2026 was $50.38M, down 14.6% year over year. For fiscal 2025 it was $57.96M, down 24.9% from the year before. Over ten years it grew 14.5% a year on average. The highest annual figure on record is $113.75M in fiscal 2023.
Annual r&d expenses
| Period | Period end | Value | Change |
|---|---|---|---|
| FY2025 | Dec 31, 2025 | $57.96M | -24.9% |
| FY2024 | Dec 31, 2024 | $77.23M | -32.1% |
| FY2023 | Dec 31, 2023 | $113.75M | +14.2% |
| FY2022 | Dec 31, 2022 | $99.58M | +53.8% |
| FY2021 | Dec 31, 2021 | $64.76M | +132.6% |
| FY2020 | Dec 31, 2020 | $27.85M | +84.9% |
| FY2019 | Dec 31, 2019 | $15.06M | +18.1% |
| FY2018 | Dec 31, 2018 | $12.75M | -55.6% |
| FY2017 | Dec 31, 2017 | $28.69M | +35.5% |
| FY2016 | Dec 31, 2016 | $21.18M | +41.7% |
| FY2015 | Dec 31, 2015 | $14.95M | +131.1% |
| FY2014 | Dec 31, 2014 | $6.47M | +107.3% |
| FY2013 | Dec 31, 2013 | $3.12M | -42.6% |
| FY2012 | Dec 31, 2012 | $5.43M | -3.9% |
| FY2011 | Dec 31, 2011 | $5.66M | -56.2% |
| FY2010 | Dec 31, 2010 | $12.90M | -21.0% |
| FY2009 | Dec 31, 2009 | $16.32M | – |
Quarterly r&d expenses
Change is against the same quarter a year earlier.
| Period | Period end | Value | Change |
|---|---|---|---|
| Q3 FY2026 | Sep 30, 2026 | $12.55M | -22.1% |
| Q2 FY2026 | Jun 30, 2026 | $13.42M | +10.1% |
| Q1 FY2026 | Mar 31, 2026 | $12.11M | -30.2% |
| Q4 FY2025 | Dec 31, 2025 | $12.29M | -7.5% |
| Q3 FY2025 | Sep 30, 2025 | $16.12M | -18.2% |
| Q2 FY2025 | Jun 30, 2025 | $12.19M | -35.6% |
| Q1 FY2025 | Mar 31, 2025 | $17.36M | -31.3% |
| Q4 FY2024 | Dec 31, 2024 | $13.29M | -56.1% |
| Q3 FY2024 | Sep 30, 2024 | $19.71M | -28.7% |
| Q2 FY2024 | Jun 30, 2024 | $18.94M | -35.3% |
| Q1 FY2024 | Mar 31, 2024 | $25.28M | -4.7% |
| Q4 FY2023 | Dec 31, 2023 | $30.31M | +10.4% |
| Q3 FY2023 | Sep 30, 2023 | $27.65M | -1.6% |
| Q2 FY2023 | Jun 30, 2023 | $29.25M | +24.2% |
| Q1 FY2023 | Mar 31, 2023 | $26.54M | +29.7% |
| Q4 FY2022 | Dec 31, 2022 | $27.46M | +1.2% |
| Q3 FY2022 | Sep 30, 2022 | $28.11M | +69.0% |
| Q2 FY2022 | Jun 30, 2022 | $23.56M | +109.5% |
| Q1 FY2022 | Mar 31, 2022 | $20.46M | +110.0% |
| Q4 FY2021 | Dec 31, 2021 | $27.14M | +456.9% |
| Q3 FY2021 | Sep 30, 2021 | $16.63M | +248.4% |
| Q2 FY2021 | Jun 30, 2021 | $11.25M | +130.4% |
| Q1 FY2021 | Mar 31, 2021 | $9.74M | +173.4% |
| Q2 FY2020 | Jun 30, 2020 | $4.87M | +35.1% |
| Q1 FY2020 | Mar 31, 2020 | $4.77M | +58.8% |
| Q4 FY2019 | Dec 31, 2019 | $4.88M | -42.1% |
| Q3 FY2019 | Sep 30, 2019 | $3.56M | -57.6% |
| Q2 FY2019 | Jun 30, 2019 | $3.61M | -57.2% |
| Q1 FY2019 | Mar 31, 2019 | $3.01M | -65.2% |
| Q4 FY2018 | Dec 31, 2018 | $8.43M | -2.4% |
| Q3 FY2018 | Sep 30, 2018 | $8.40M | +13.0% |
| Q2 FY2018 | Jun 30, 2018 | $8.43M | +27.2% |
| Q1 FY2018 | Mar 31, 2018 | $8.65M | +44.2% |
| Q4 FY2017 | Dec 31, 2017 | $8.63M | +40.5% |
| Q3 FY2017 | Sep 30, 2017 | $7.44M | +48.7% |
| Q2 FY2017 | Jun 30, 2017 | $6.63M | – |
| Q1 FY2017 | Mar 31, 2017 | $6.00M | – |
| Q4 FY2016 | Dec 31, 2016 | $6.15M | – |
| Q3 FY2016 | Sep 30, 2016 | $5.00M | – |
See a number that looks wrong?