Plug Power reports Q3 progress, sets earnings call for November 9

Plug Power Inc. (NASDAQ: PLUG) provided an update on its 2026 business progress, reporting preliminary third-quarter results and announcing dates for its upcoming earnings call and annual symposium.

Based on preliminary, unaudited estimates, Plug expects revenue growth of more than 10% in Q3 2026 compared to Q3 2025. The company said it remains on track to meet its full-year revenue growth guidance of approximately 15% to 16%, driven by activity in material handling, electrolyzers, and hydrogen supply.

Net cash usage for Q3 2026 was approximately $28 million, according to preliminary estimates. The company ended the quarter with approximately $134 million in cash and cash equivalents, excluding restricted cash. Plug said it did not raise proceeds through its at-the-market offering program or through other equity or debt capital raises during the quarter.

The company also reported gross margin improvement over the past two quarters and expects continued year-over-year progress in Q3 2026.

On the commercial side, Plug signed a 280 MW GenEco electrolyzer supply agreement with Arcadia eFuels for Project ENDOR in Denmark. It also secured a 50 MW electrolyzer order from Orica for the Hunter Valley Hydrogen Hub in Australia. The company is advancing front-end engineering design for a 275 MW project in Québec with Hy2gen and continuing commissioning activities for projects with Iberdrola in Spain and Galp in Portugal.

"Our progress across sales, margin and cash burn demonstrates that the actions we are taking are delivering results," said Jose Luis Crespo, Chief Executive Officer of Plug.

Plug will report its third-quarter 2026 financial results on November 9, 2026, at 4:30 p.m. ET. The company will also host its annual Plug Symposium 2026 as a virtual event on November 19, 2026, from 9:00 a.m. to 12:00 p.m. ET.

The preliminary financial figures cited are unaudited and subject to change upon completion of quarter-end close procedures.

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