Recent Updates — PLUG
Plug Power Inc. issued a press release providing preliminary, unaudited business updates for the third quarter ended September 30, 2026. The company reported net cash usage of approximately $28 million, marking continued improvement in cash flow management. Management expects meaningful revenue growth of greater than 10% year-over-year, positioning the firm on track to achieve its full-year guidance of 15% to 16% growth. Gross margin is also expected to show year-over-year progress due to cost reductions and improved operating leverage. The company ended the quarter with approximately $134 million in cash and cash equivalents. Plug Power will announce formal financial results on November 9, 2026. Plug Power Inc. operates in the hydrogen economy sector, providing electrolyzers, fuel cell systems, and hydrogen production and storage solutions.
On September 17, 2026, Dean C. Fullerton notified Plug Power Inc. of his resignation as Chief Operating Officer, effective October 23, 2026, to accept a position at another company. The departure was not due to any disagreement with the Company regarding its operations or policies. Mr. Fullerton will assist in transitioning his duties to existing Executive and Vice Presidents. Plug Power Inc. operates in the hydrogen fuel cell industry.
Plug Power Inc. reported second quarter 2026 financial results, announcing net revenue of approximately $178 million, representing sequential growth of roughly 9%. Gross margin improved to breakeven from negative levels in prior periods, while operating expenses declined approximately 50% year over year to $62 million. Net cash usage decreased by about 58% sequentially to $61 million, with unrestricted cash standing at $162 million at quarter end. The company raised its full-year 2026 revenue growth guidance to a range of 15% to 16% and targets positive EBITDAS in the fourth quarter of 2026. Additionally, Plug Power announced asset monetization transactions expected to generate $80 million in near-term liquidity. The company operates in the hydrogen energy industry, designing and building integrated ecosystems for production, storage, delivery, and power generation.
Plug Power Inc. amended its Gateway Agreement with Stream US Data Centers, LLC to restructure a New York real property sale for a fixed price of $142.0 million by March 31, 2027. Additionally, the company entered into a new $50.0 million agreement to sell real property in Graham, Texas, which includes a potential contingent earnout of up to $26.5 million. As of June 30, 2026, the company reported preliminary, unaudited cash and cash equivalents of approximately $162 million. Plug Power Inc. provides hydrogen fuel cell systems and related infrastructure.
Plug Power Inc. stockholders at the June 11, 2026, annual meeting approved an amendment to the 2021 Stock Option and Incentive Plan to increase the number of shares reserved for the plan, from 91,400,000 to 116,400,000 shares. The meeting also elected Class III Directors, Director Kavita Mahtani resigned, Director Colin Angle reclassified from Class III to Class I to rebalance board class sizes. Plug Power Inc. operates in the hydrogen fuel cell industry and provides green hydrogen solutions.