v3.26.3
Condensed Consolidated Statements of Stockholders' Equity - USD ($)
$ in Thousands
Total Plug Power Stockholders' Equity
Common Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Income/(Loss)
Treasury Stock
Accumulated Deficit
Non-controlling Interests
Total
Beginning Balance at Dec. 31, 2024 $ 1,734,137 $ 9,342 $ 8,430,537 $ (2,502) $ (108,795) $ (6,594,445) $ 73,619 $ 1,807,756
Beginning Balance, shares at Dec. 31, 2024   934,126,897            
Treasury Stock, Beginning Balance, shares at Dec. 31, 2024         20,230,043,000      
Increase (Decrease) in Stockholders' Equity                
Net income/(loss) (196,656)         (196,656) (203) (196,859)
Other comprehensive income (loss) (2,729)     (2,729)       (2,729)
Stock-based compensation 11,087 $ 15 11,072         11,087
Stock-based compensation, shares   1,545,763            
Public offerings, common stock, net of issuance costs 276,053 $ 517 275,536         276,053
Public offerings, common stock, net of issuance costs, shares   51,654,177            
Stock option exercises and issuance of common stock upon grant/vesting of restricted stock and restricted stock unit awards   $ (2) 2          
Stock option exercises and issuance of common stock upon grant/vesting of restricted stock and restricted stock unit awards, shares   (157,005)            
Treasury stock acquired from employees upon exercise of stock options and vesting of restricted stock and restricted stock unit awards (49)       $ (49)     (49)
Treasury stock acquired from employees upon exercise of stock options and vesting of restricted stock and restricted stock unit awards, shares         27,027,000      
Provision for common stock warrants 7,049   7,049         7,049
Additional paid-in capital due to contributions to consolidated VIE (1,971)   (1,971)       1,971  
Principal payment of convertible debenture settled in common stock 30,279 $ 105 30,174         30,279
Principal payment of convertible debenture settled in common stock, shares   10,440,906            
Ending Balance at Mar. 31, 2025 1,857,200 $ 9,977 8,752,399 (5,231) $ (108,844) (6,791,101) 75,387 1,932,587
Ending Balance, shares at Mar. 31, 2025   997,610,738            
Treasury Stock, Ending Balance, shares at Mar. 31, 2025         20,257,070,000      
Beginning Balance at Dec. 31, 2024 1,734,137 $ 9,342 8,430,537 (2,502) $ (108,795) (6,594,445) 73,619 1,807,756
Beginning Balance, shares at Dec. 31, 2024   934,126,897            
Treasury Stock, Beginning Balance, shares at Dec. 31, 2024         20,230,043,000      
Increase (Decrease) in Stockholders' Equity                
Net income/(loss)               (789,091)
Ending Balance at Sep. 30, 2025 1,416,629 $ 12,194 8,886,531 3,775 $ (105,802) (7,380,069) 81,992 1,498,621
Ending Balance, shares at Sep. 30, 2025   1,219,328,594            
Treasury Stock, Ending Balance, shares at Sep. 30, 2025         18,816,602,000      
Beginning Balance at Mar. 31, 2025 1,857,200 $ 9,977 8,752,399 (5,231) $ (108,844) (6,791,101) 75,387 1,932,587
Beginning Balance, shares at Mar. 31, 2025   997,610,738            
Treasury Stock, Beginning Balance, shares at Mar. 31, 2025         20,257,070,000      
Increase (Decrease) in Stockholders' Equity                
Net income/(loss) (227,099)         (227,099) (1,628) (228,727)
Other comprehensive income (loss) 8,709     8,709       8,709
Stock-based compensation 13,080 $ 29 13,051         13,080
Stock-based compensation, shares   2,947,415            
Warrants issued with 15.00% Secured Debenture 6,069   6,069         6,069
Stock option exercises and issuance of common stock upon grant/vesting of restricted stock and restricted stock unit awards   $ (1) 1          
Stock option exercises and issuance of common stock upon grant/vesting of restricted stock and restricted stock unit awards, shares   (133,820)            
Treasury stock acquired from employees upon exercise of stock options and vesting of restricted stock and restricted stock unit awards (158)       $ (158)     (158)
Treasury stock acquired from employees upon exercise of stock options and vesting of restricted stock and restricted stock unit awards, shares         172,896,000      
Provision for common stock warrants 9,164   9,164         9,164
Additional paid-in capital due to contributions to consolidated VIE (6,044)   (6,044)       6,044  
Contributions by non-controlling interest             3,091 3,091
Principal payment of convertible debenture settled in common stock 20,006 $ 283 19,723         20,006
Principal payment of convertible debenture settled in common stock, shares   28,295,151            
Exercises of pre-funded warrants 139 $ 1,389 (1,250)         139
Exercises of pre-funded warrants, shares   138,930,464            
Expiration of common stock forward and retirement of related treasury stock   $ (19) (3,679)   $ 3,698      
Expiration of common stock forward and retirement of related treasury stock, shares   (1,935,900)     (1,935,900,000)      
Ending Balance at Jun. 30, 2025 1,681,066 $ 11,658 8,789,434 3,478 $ (105,304) (7,018,200) 82,894 1,763,960
Ending Balance, shares at Jun. 30, 2025   1,165,714,048            
Treasury Stock, Ending Balance, shares at Jun. 30, 2025         18,494,066,000      
Increase (Decrease) in Stockholders' Equity                
Net income/(loss) (361,869)         (361,869) (1,636) (363,505)
Other comprehensive income (loss) 297     297       297
Stock-based compensation 12,237 $ 15 12,222         12,237
Stock-based compensation, shares   1,476,235            
Public offerings, common stock, net of issuance costs 46,301 $ 294 46,007         46,301
Public offerings, common stock, net of issuance costs, shares   29,419,352            
Stock option exercises and issuance of common stock upon grant/vesting of restricted stock and restricted stock unit awards 11 $ 12 (1)         11
Stock option exercises and issuance of common stock upon grant/vesting of restricted stock and restricted stock unit awards, shares   (1,218,959)            
Treasury stock acquired from employees upon exercise of stock options and vesting of restricted stock and restricted stock unit awards (498)       $ (498)     (498)
Treasury stock acquired from employees upon exercise of stock options and vesting of restricted stock and restricted stock unit awards, shares         322,536,000      
Provision for common stock warrants 9,588   9,588         9,588
Additional paid-in capital due to contributions to consolidated VIE 41   41       (41)  
Contributions by non-controlling interest             775 775
Exercises of 15% Secured Debenture Warrant 29,455 $ 215 29,240         29,455
Exercises of 15% Secured Debenture Warrant, shares   21,500,000            
Ending Balance at Sep. 30, 2025 1,416,629 $ 12,194 8,886,531 3,775 $ (105,802) (7,380,069) 81,992 1,498,621
Ending Balance, shares at Sep. 30, 2025   1,219,328,594            
Treasury Stock, Ending Balance, shares at Sep. 30, 2025         18,816,602,000      
Beginning Balance at Dec. 31, 2025 978,069 $ 13,943 9,186,314 6,796 $ (2,945) (8,226,039) 25,245 $ 1,003,314
Beginning Balance, shares at Dec. 31, 2025   1,394,241,538           1,394,241,538
Treasury Stock, Beginning Balance, shares at Dec. 31, 2025         970,588     970,588
Increase (Decrease) in Stockholders' Equity                
Net income/(loss) (245,304)         (245,304) (733) $ (246,037)
Other comprehensive income (loss) (3,354)     (3,354)       (3,354)
Stock-based compensation 13,938 $ 14 13,924         13,938
Stock-based compensation, shares   1,432,765            
Stock option exercises and issuance of common stock upon grant/vesting of restricted stock and restricted stock unit awards 90   90         90
Stock option exercises and issuance of common stock upon grant/vesting of restricted stock and restricted stock unit awards, shares   (30,913)            
Treasury stock acquired from employees upon exercise of stock options and vesting of restricted stock and restricted stock unit awards (37)       $ (37)     (37)
Treasury stock acquired from employees upon exercise of stock options and vesting of restricted stock and restricted stock unit awards, shares         16,907      
Provision for common stock warrants 5,675   5,675         5,675
Additional paid-in capital due to contributions to consolidated VIE 733   733       (733)  
Contributions by non-controlling interest             300 300
Ending Balance at Mar. 31, 2026 749,810 $ 13,957 9,206,736 3,442 $ (2,982) (8,471,343) 24,079 773,889
Ending Balance, shares at Mar. 31, 2026   1,395,643,390            
Treasury Stock, Ending Balance, shares at Mar. 31, 2026         987,495      
Beginning Balance at Dec. 31, 2025 978,069 $ 13,943 9,186,314 6,796 $ (2,945) (8,226,039) 25,245 $ 1,003,314
Beginning Balance, shares at Dec. 31, 2025   1,394,241,538           1,394,241,538
Treasury Stock, Beginning Balance, shares at Dec. 31, 2025         970,588     970,588
Increase (Decrease) in Stockholders' Equity                
Net income/(loss)               $ (337,102)
Ending Balance at Sep. 30, 2026 705,896 $ 14,001 9,254,997 1,265 $ (4,583) (8,559,784) 5,485 $ 711,381
Ending Balance, shares at Sep. 30, 2026   1,400,004,604           1,400,004,604
Treasury Stock, Ending Balance, shares at Sep. 30, 2026         1,729,151     1,729,151
Beginning Balance at Mar. 31, 2026 749,810 $ 13,957 9,206,736 3,442 $ (2,982) (8,471,343) 24,079 $ 773,889
Beginning Balance, shares at Mar. 31, 2026   1,395,643,390            
Treasury Stock, Beginning Balance, shares at Mar. 31, 2026         987,495      
Increase (Decrease) in Stockholders' Equity                
Net income/(loss) (188,207)         (188,207) (1,895) (190,102)
Other comprehensive income (loss) (992)     (992)       (992)
Stock-based compensation 14,298 $ 7 14,291         14,298
Stock-based compensation, shares   676,325            
Stock option exercises and issuance of common stock upon grant/vesting of restricted stock and restricted stock unit awards 1,546 $ 16 1,530         1,546
Stock option exercises and issuance of common stock upon grant/vesting of restricted stock and restricted stock unit awards, shares   1,604,332            
Treasury stock acquired from employees upon exercise of stock options and vesting of restricted stock and restricted stock unit awards (122)       $ (122)     (122)
Treasury stock acquired from employees upon exercise of stock options and vesting of restricted stock and restricted stock unit awards, shares         38,154      
Provision for common stock warrants 5,247   5,247         5,247
Additional paid-in capital due to contributions to consolidated VIE 173   173       (173)  
Distributions to noncontrolling interest             (16,474) (16,474)
Ending Balance at Jun. 30, 2026 581,753 $ 13,980 9,227,977 2,450 $ (3,104) (8,659,550) 5,537 587,290
Ending Balance, shares at Jun. 30, 2026   1,397,924,047            
Treasury Stock, Ending Balance, shares at Jun. 30, 2026         1,025,649      
Increase (Decrease) in Stockholders' Equity                
Net income/(loss) 99,766         99,766 (729) 99,037
Other comprehensive income (loss) (1,185)     (1,185)       (1,185)
Stock-based compensation 12,722 $ 10 12,712         12,722
Stock-based compensation, shares   944,691            
Stock option exercises and issuance of common stock upon grant/vesting of restricted stock and restricted stock unit awards 491 $ 11 480         491
Stock option exercises and issuance of common stock upon grant/vesting of restricted stock and restricted stock unit awards, shares   1,135,866            
Treasury stock acquired from employees upon exercise of stock options and vesting of restricted stock and restricted stock unit awards (1,479)       $ (1,479)     (1,479)
Treasury stock acquired from employees upon exercise of stock options and vesting of restricted stock and restricted stock unit awards, shares         703,502      
Provision for common stock warrants 14,505   14,505         14,505
Additional paid-in capital due to contributions to consolidated VIE (677)   (677)       677  
Ending Balance at Sep. 30, 2026 $ 705,896 $ 14,001 $ 9,254,997 $ 1,265 $ (4,583) $ (8,559,784) $ 5,485 $ 711,381
Ending Balance, shares at Sep. 30, 2026   1,400,004,604           1,400,004,604
Treasury Stock, Ending Balance, shares at Sep. 30, 2026         1,729,151     1,729,151