Plug Power (PLUG) Revenue & Revenue Breakdown


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Plug Power Revenue Highlights


Latest Revenue (Y)

$891.34M

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

DateRevenueChange
2023-12-31$891.34M27.07%
2022-12-31$701.44M39.63%
2021-12-31$502.34M-600.00%
2020-12-31$-100.47M-143.64%
2019-12-31$230.24M31.84%
2018-12-31$174.63M31.37%
2017-12-31$132.93M54.70%
2016-12-31$85.93M-16.81%
2015-12-31$103.29M60.81%
2014-12-31$64.23M141.46%
2013-12-31$26.60M1.89%
2012-12-31$26.11M-5.49%
2011-12-31$27.63M41.87%
2010-12-31$19.47M58.41%
2009-12-31$12.29M-

Plug Power generated $891.34M in revenue during NA 2023, up 27.07% compared to the previous quarter, and up 510.41% compared to the same period a year ago.

Plug Power Revenue by Quarter

DateRevenueChange
2024-06-30$143.35M19.20%
2024-03-31$120.26M-45.87%
2023-12-31$222.16M11.80%
2023-09-30$198.71M-23.63%
2023-06-30$260.18M23.73%
2023-03-31$210.29M-4.74%
2022-12-31$220.74M17.03%
2022-09-30$188.63M24.70%
2022-06-30$151.27M7.43%
2022-03-31$140.80M-13.03%
2021-12-31$161.91M12.49%
2021-09-30$143.92M15.55%
2021-06-30$124.56M73.10%
2021-03-31$71.96M-122.75%
2020-12-31$-316.34M-395.68%
2020-09-30$106.99M57.17%
2020-06-30$68.07M66.79%
2020-03-31$40.81M-58.44%
2019-12-31$98.20M74.19%
2019-09-30$56.38M-1.21%
2019-06-30$57.07M206.93%
2019-03-31$18.59M-68.92%
2018-12-31$59.82M12.52%
2018-09-30$53.16M33.16%
2018-06-30$39.93M37.30%
2018-03-31$29.08M-13.61%
2017-12-31$33.66M-45.20%
2017-09-30$61.43M171.75%
2017-06-30$22.60M48.37%
2017-03-31$15.23M-53.24%
2016-12-31$32.58M85.53%
2016-09-30$17.56M-14.17%
2016-06-30$20.46M33.44%
2016-03-31$15.33M-60.11%
2015-12-31$38.43M22.27%
2015-09-30$31.43M30.92%
2015-06-30$24.01M154.99%
2015-03-31$9.42M-56.11%
2014-12-31$21.45M7.91%
2014-09-30$19.88M14.78%
2014-06-30$17.32M210.75%
2014-03-31$5.57M-30.60%
2013-12-31$8.03M73.60%
2013-09-30$4.63M-38.28%
2013-06-30$7.50M16.32%
2013-03-31$6.45M8.83%
2012-12-31$5.92M24.00%
2012-09-30$4.78M-37.65%
2012-06-30$7.66M-1.20%
2012-03-31$7.75M-34.68%
2011-12-31$11.87M116.95%
2011-09-30$5.47M25.84%
2011-06-30$4.35M-26.85%
2011-03-31$5.94M-4.85%
2010-12-31$6.24M8.55%
2010-09-30$5.75M85.35%
2010-06-30$3.10M12.99%
2010-03-31$2.75M-29.70%
2009-12-31$3.91M53.71%
2009-09-30$2.54M-21.08%
2009-06-30$3.22M-

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/ServiceDec 23Dec 22Dec 21Dec 20Dec 19
Other$10.84M$2.85M$22.75M--
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--
Power purchase agreements$435.97M$375.80M---
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--
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/ServiceSep 24Mar 24Dec 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19Jun 19
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---------
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--------
Sale of electrolyzers-$303.13M-$224.30M$281.72M$13.89M$266.74M$77.06M$51.27M-----------
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 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-----------
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 Hydrogen Installations And Other Infrastructure----------$58.43M$52.19M$69.68M$-83.09M$62.70M$71.75M$69.44M$12.26M$11.45M$10.07M
Sale Of Fuel Cell Systems And Other Infrastructure-------------$-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

CountryDec 23Dec 22Dec 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

CountrySep 24Mar 24Dec 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22
Asia$11.15M$5.07M$4.68M$6.00M$3.25M----
North America$107.80M$105.91M$354.09M$235.52M$161.81M$193.60M$157.43M$115.21M$113.68M
Europe$50.96M$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 Sep 24: North America (63.44%), Europe (29.99%), and Asia (6.57%).

PLUG Revenue FAQ


What is Plug Power’s yearly revenue?

Plug Power's yearly revenue for 2023 was $891.34M, representing an increase of 27.07% 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 77.44%, and for the last 5 years (2019-2023) was 287.14%.

What are Plug Power’s revenue streams?

Plug Power's revenue streams in c 23 are Other, Services performed on fuel cell systems and related infrastructure, Sale of hydrogen infrastructure, Sale of electrolyzers, Power purchase agreements, Fuel delivered to customers and related equipment, and Sales of fuel cell systems. Other generated $10.84M in revenue, accounting 0.81% of the company's total revenue, up 280.38% 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. Power purchase agreements generated $435.97M in revenue, accounting 32.74% of the company's total revenue, up 16.01% 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.