Plug Power reports Q3 2026 progress and schedules Nov. earnings call and symposium
- Q3 2026 revenue grew by more than 10% versus Q3 2025, supporting full‑year guidance of approximately 15–16% growth.
- Gross margin has improved over the past two quarters and is expected to continue year‑over‑year progress in Q3 2026.
- Preliminary Q3 net cash usage was approximately $28 million; the company ended Q3 with about $134 million in cash and cash equivalents and did not raise proceeds via its ATM or other equity/debt capital during the quarter.
- Electrolyzer opportunity funnel is approximately $8 billion, with recent developments including a 280 MW Arcadia eFuels supply agreement, FEED activity on a 275 MW Hy2gen project, a 50 MW Orica order, and continuing execution on 25 MW and 100 MW Iberdrola/Galp projects.
Financial and operational update
Plug reports preliminary, unaudited Q3 2026 results showing revenue growth of greater than 10% versus Q3 2025 and says this performance keeps it on track for previously communicated full‑year revenue growth guidance of approximately 15–16%. The company also reports gross margin improvement over the past two quarters and expects continued year‑over‑year progress for Q3 2026.
Cash and capital
Preliminary Q3 net cash usage was approximately $28 million, a record low for the year, and the company ended Q3 2026 with approximately $134 million in cash and cash equivalents (excluding restricted cash). Plug did not generate proceeds from its at‑the‑market program or other equity or debt raises during the quarter.
Electrolyzer pipeline and contracts
Plug says its global GenEco electrolyzer opportunity funnel is about $8 billion and highlights recent commercial progress: a 280 MW GenEco supply agreement with Arcadia for Project ENDOR and a cooperation agreement for >1 GW of potential e‑SAF projects; FEED work for a 275 MW Hy2gen Courant project; a 50 MW order from Orica for Hunter Valley; and ongoing execution on 25 MW and 100 MW projects with Iberdrola/bp and Galp respectively.
Investor events
Plug will release third quarter 2026 financial results and host an earnings call on November 9, 2026 at 4:30 p.m. ET, and will present its virtual Plug Symposium 2026, titled "Resilient Energy, Real Solutions," on November 19, 2026 from 9:00 a.m. to 12:00 p.m. ET.
Source: Plug Power