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Plug Power (PLUG) Revenue & Revenue Breakdown


Plug Power Revenue Highlights


Latest Revenue (Y)

$628.81M

Latest Revenue (Q)

$133.67M

Main Segment (Y)

Power Purchase Agreements

Main Geography (Y)

UNITED STATES

Plug Power Revenue by Period


Plug Power Revenue by Year

DateRevenueChange
2024-12-31$628.81M-29.45%
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-31.33%
2008-12-31$17.90M10.02%
2007-12-31$16.27M107.65%
2006-12-31$7.84M-41.90%
2005-12-31$13.49M-16.45%
2004-12-31$16.14M29.11%
2003-12-31$12.50M5.79%
2002-12-31$11.82M105.84%
2001-12-31$5.74M-31.47%
2000-12-31$8.38M-23.83%
1999-12-31$11.00M69.23%
1998-12-31$6.50M-

Plug Power generated $628.81M in revenue during NA 2024, up -29.45% compared to the previous quarter, and up 273.11% compared to the same period a year ago.

Plug Power Revenue by Quarter

DateRevenueChange
2025-03-31$133.67M-30.19%
2024-12-31$191.47M10.21%
2024-09-30$173.73M21.19%
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 $133.67M in revenue during Q1 2025, up -30.19% compared to the previous quarter, and up 60.17% compared to the same period a year ago.

Plug Power Revenue Breakdown


Plug Power Revenue Breakdown by Product

Annual Revenue by Product

Product/ServiceDec 24Dec 23Dec 22Dec 21Dec 20
Other Product And Services$10.59M$3.29M---
Services Performed On Fuel Cell Systems And Related Infrastructure$122.90M$75.47M---
Sales Of Fuel Cell Systems$202.63M$16.21M---
Power Purchase Agreements$356.81M$249.06M$178.45M--
Fuel delivered to customers and related equipment-$95.44M$93.80M--
Power purchase agreements-$435.97M$375.80M--
Sale of electrolyzers-$301.32M$303.04M$49.16M-
Sale of hydrogen infrastructure-$183.61M$141.53M$135.06M-
Services performed on fuel cell systems and related infrastructure-$123.08M$126.81M$102.36M-
Sales of fuel cell systems-$181.17M$38.23M$23.14M-
Other-$10.84M$2.85M$22.75M-
Sale of cryogenic equipment--$193.64M$46.51M-
Sale of solutions---$7.57M-
Fuel delivered to customers---$61.60M-
Sale Of Fuel Cell Systems And Other Infrastructure----$-94.30M
Sale Of Hydrogen Installations And Other Infrastructure----$28.28M
Fuel Delivered To Customers----$65.70M

Plug Power's latest annual revenue breakdown by segment (product or service), as of Dec 24: Power Purchase Agreements (51.49%), Sales Of Fuel Cell Systems (29.24%), Services Performed On Fuel Cell Systems And Related Infrastructure (17.74%), and Other Product And Services (1.53%).

Quarterly Revenue by Product

Product/ServiceDec 24Sep 24Mar 24Dec 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20Sep 20Jun 20Mar 20Dec 19Sep 19
Sales Of Fuel Cell Systems$10.75M$191.87M$23.82M$55.35M$66.03M$-162.87M$50.28M$71.40M$76.43M$58.69M$25.95M---------
Other Product And Services$8.39M$2.19M$2.12M$2.50M$2.89M$76.00K$3.71M$4.12M$4.53M$51.00K$5.37M---------
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--------
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---------
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
Sale Of Hydrogen Installations And Other Infrastructure-----------$58.43M$52.19M$69.68M$-83.09M$62.70M$71.75M$69.44M$12.26M$11.45M
Sale Of Fuel Cell Systems And Other Infrastructure--------------$-246.17M-----

Plug Power's latest quarterly revenue breakdown by segment (product or service), as of Dec 24: Sales Of Fuel Cell Systems (56.15%), and Other Product And Services (43.85%).

Plug Power Revenue Breakdown by Country

Annual Revenue by Country

CountryDec 24Dec 23Dec 22Dec 21
Non-US$200.60M---
UNITED STATES$428.21M---
North America-$751.42M$579.22M$476.25M
Europe-$112.89M$46.03M-
Asia-$13.94M$50.50M-
Other.--$25.69M-
Other Member---$26.10M

Plug Power's latest annual revenue breakdown by geography, as of Dec 24: UNITED STATES (68.10%), and Non-US (31.90%).

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 2024 was $628.81M, representing a decrease of -29.45% compared to 2023. The company's yearly revenue for 2023 was $891.34M, representing an increase of 27.07% compared to 2022. PLUG's yearly revenue for 2022 was $701.44M, representing an increase of 39.63% compared to 2021.

What is Plug Power’s quarterly revenue?

Plug Power's quarterly revenue for Q1 2025 was $133.67M, a -30.19% decrease from the previous quarter (Q4 2024), and a 11.15% increase year-over-year (Q1 2024). The company's quarterly revenue for Q4 2024 was $191.47M, a 10.21% increase from the previous quarter (Q3 2024), and a -13.81% decrease year-over-year (Q4 2023). PLUG's quarterly revenue for Q3 2024 was $173.73M, a 21.19% increase from the previous quarter (Q2 2024), and a -12.57% decrease year-over-year (Q3 2023).

What is Plug Power’s revenue growth rate?

Plug Power's revenue growth rate for the last 3 years (2022-2024) was -10.35%, and for the last 5 years (2020-2024) was -725.88%.

What are Plug Power’s revenue streams?

Plug Power's revenue streams in c 24 are Other Product And Services, Services Performed On Fuel Cell Systems And Related Infrastructure, Sales Of Fuel Cell Systems, and Power Purchase Agreements. Other Product And Services generated $10.59M in revenue, accounting 1.53% of the company's total revenue, up 221.37% year-over-year. Services Performed On Fuel Cell Systems And Related Infrastructure generated $122.9M in revenue, accounting 17.74% of the company's total revenue, up 62.85% year-over-year. Sales Of Fuel Cell Systems generated $202.62M in revenue, accounting 29.24% of the company's total revenue, up 1150.08% year-over-year. Power Purchase Agreements generated $356.82M in revenue, accounting 51.49% of the company's total revenue, up 43.26% year-over-year.

What is Plug Power’s main source of revenue?

For the fiscal year ending Dec 24, the largest source of revenue of Plug Power was Power Purchase Agreements. This segment made a revenue of $356.82M, representing 51.49% of the company's total revenue.

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