Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $82.8M | $100M | $174M | $230M | -$93.2M | $502M | $701M | $891M | $629M | $710M |
| Revenue growth | — | 20.9% | 73.9% | 32.0% | -140.5% | 638.8% | 39.6% | 27.1% | -29.5% | 12.9% |
| Gross profit | $3.95M | -$28.1M | -$26.0M | $10.6M | -$469M | -$171M | -$194M | -$508M | -$625M | -$242M |
| Gross margin | 4.8% | -28.0% | -14.9% | 4.6% | 503.5% | -34.1% | -27.7% | -57.0% | -99.4% | -34.1% |
| Operating income | -$51.5M | -$102M | -$76.4M | -$47.6M | -$584M | -$437M | -$680M | -$1.34B | -$2.02B | -$1.47B |
| Operating margin | -62.2% | -101.6% | -43.9% | -20.7% | 626.6% | -87.1% | -96.9% | -150.7% | -321.2% | -206.7% |
| Net income | -$57.5M | -$127M | -$85.6M | -$83.7M | -$596M | -$460M | -$724M | -$1.37B | -$2.10B | -$1.63B |
| Net margin | -69.4% | -126.9% | -49.1% | -36.4% | 639.4% | -91.6% | -103.2% | -153.6% | -334.7% | -229.8% |
| EPS (diluted) | -$0.32 | -$0.60 | -$0.39 | -$0.36 | -$1.68 | -$0.82 | -$1.25 | -$2.30 | -$2.68 | -$1.42 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$29.6M | -$60.2M | -$58.4M | -$53.3M | -$155M | -$358M | -$829M | -$1.11B | -$729M | -$536M |
| Capital expenditures | $2.74M | $4.09M | $5.14M | $5.68M | $22.5M | $172M | $437M | $665M | $287M | $111M |
| Free cash flow | -$32.4M | -$64.3M | -$63.5M | -$59.0M | -$178M | -$530M | -$1.27B | -$1.77B | -$1.02B | -$647M |
| Share buybacks | $182K | — | — | — | — | — | — | — | — | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $46.0M | $24.8M | $38.6M | $39.3M | $1.31B | $2.48B | $691M | $135M | $206M | $369M |
| Total assets | $241M | $271M | $390M | $361M | $2.25B | $5.95B | $5.76B | $4.90B | $3.60B | $2.59B |
| Total liabilities | $146M | $196M | $356M | $336M | $784M | $1.34B | $1.70B | $2.00B | $1.80B | $1.59B |
| Long-term debt | $20.8M | $13.4M | $133K | — | — | — | $9.00M | $3.90M | — | — |
| Shareholders' equity | $85.1M | $70.2M | -$3.59M | $130M | $1.47B | $4.61B | $4.06B | $2.90B | $1.73B | $978M |
| Retained earnings | -$1.05B | -$1.18B | -$1.26B | -$1.30B | -$1.95B | $9.60M | -$3.12B | -$4.49B | -$6.59B | -$8.23B |
| Shares (wtd avg diluted) | 191M | 228M | 219M | 237M | 355M | 558M | 580M | 595M | 785M | 1.15B |
Every figure is extracted from PLUG POWER INC’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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