Pinterest Inc., US72919P2020

Plug Power stock gains as Q2 revenue reached $178.3 million

Published on 09/04/2026 at 06:54 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Plug Power stock has Q2 2026 revenue of $178.3 million, gross margin near breakeven and full-year revenue growth guidance of 15 percent to 16 percent.

Flatlay mit generischer Brennstoffzelle, H2-Aufkleber, Schraubenschlüssel und Schaltplan
Plug Power Inc US72919P2020 im Flatlay: Brennstoffzelle, H2-Aufkleber, Schraubenschlüssel und technischer Schaltplan arrangiert, Illustration mit AI erstellt.

Plug Power stock (ISIN US72919P2020) gained a fresh catalyst from its Q2 2026 update, where revenue reached $178.3 million and management lifted full-year 2026 revenue growth guidance to 15 percent to 16 percent. The same update also pointed to positive EBITDAS in Q4 2026, according to a recent ad hoc news report.

Revenue and margin

The second-quarter figures show why the market is still weighing execution against liquidity. Gross margin moved from minus 31 percent in the year-ago quarter and minus 13 percent in Q1 2026 to essentially breakeven, while operating expenses fell to $62 million, about half the year-earlier level.

Service revenue added another clear marker: it rose 82 percent to $30 million, with a 27 percent margin. Hydrogen sales also increased about 15 percent, giving the quarter more than one growth driver.

Liquidity and guidance

Cash generation remains central to the story. Management is targeting $275 million in aggregate liquidity from asset sales and non-dilutive financing, and about $52 million had been collected by the end of August, including roughly $47 million during July and August.

That matters because the same plan is meant to support the move toward positive EBITDAS in Q4 2026. For investors, the comparison is straightforward: $52 million collected so far against a $275 million target leaves the larger funding path still open.

Go deeper

Plug Power after Q2 2026

The latest quarter tied revenue, margin and liquidity to one message: the path to positive EBITDAS in Q4 2026 still depends on execution.

Plug Power s GenDrive push

GenDrive shipped 1,666 units in the quarter, more than double the year-earlier figure, and that is the most concrete product-level proof point in the release cycle. The service business and the material-handling franchise together show how Plug Power is trying to widen the revenue base while margins recover.

Stock level on September 4, 2026

As of September 3, 2026, Plug Power traded at $2.12, with a market cap of $3.02 billion and volume of 35.02 million shares. The same snapshot showed a daily move of minus 2.08 percent and a range of $2.07 to $2.13.

Plug Power fact box

  • Company: Plug Power Inc.
  • ISIN: US72919P2020
  • Ticker: PLUG
  • Trading venue: NASDAQ
  • Price (as of September 3, 2026): $2.12 USD
  • Market capitalization: $3.02 billion USD (as of September 3, 2026)
  • Sector / Industry: Industrials / Electrical Equipment
  • Index membership: Russell 2000

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