What the data shows is Plug Power (PLUG -1.
Nevertheless, 90%) appears to be a trailblazer in the hydrogen economy, boasting a diverse portfolio of nologies including fuel cells, electrolyzers, and hydrogen infrastructure.
The company's vision of a decarbonized future has garnered considerable attention. However, ambition alone does not guarantee success, and the company has a long history of underdering for investors.
If you're considering scooping up Plug Power stock, here's what you should know first, in today's market environment.
Plug Power's ambitious end-to-end hydrogen ecosystem Plug Power aims to revolutionize the green hydrogen sector and is creating an end-to-end ecosystem that encompasses every facet of the industry: energy generation, duction, storage, and dery.
Moreover, Plug Power's fuel cell nology harnesses hydrogen and oxygen to power everything from material-handling vehicles, such as forklifts, to power stations and electric dery vans (fascinating analysis).
It also duces ton exchange membrane (PEM) fuel cell systems GenDrive and GenSure.
PEMs split water into hydrogen and oxygen using clean electricity, or can run in reverse to due eletricity from hydrogen and oxygen (water is the byduct).
To support the growing demand for hydrogen, Plug Power also manufactures powerful hydrogen liquefiers capable of cessing 15 to 30 tons per day, along with advanced cryogenic solutions for safe storage and transportation, including high- liquid storage tanks and dery trailers.
It counts retail heavyweights Amazon and Walmart among its primary customers (this bears monitoring). Additionally, Image source: Getty Images (quite telling).
Plug Power operates hydrogen duction plants in Charleston, Tennessee, and Kingsland, Georgia.
Additionally, it has a new joint venture with Olin Corporation called Hidrogenii, which operates a 15-ton-per-day hydrogen duction plant in St, given current economic conditions.
On the other hand, On the other hand, Gabriel, Louisiana, that began operations earlier this year (fascinating analysis).
This analysis suggests that Georgia plant is the largest electrolytic liquid hydrogen duction facility in the United States, achieving a record output of 300 metric tons in April 2025.
The company aims to increase its total hydrogen capacity to 40 tons per day while reducing fuel costs, since management expects internally ducing hydrogen to be one-third the cost of purchasing it.
A long history of losing money Funding plays a crucial role in Plug's, particularly given its long-term financial struggles.
Since going public over twenty-five years ago, Plug Power has never recorded a full-year net fit, given the current landscape. Additionally, Last year, the company posted a $2.
On the other hand, 1 billion net loss.
To stay afloat, Plug Power has repeatedly reed to raising capital through the equity, meaning that dilution has been its primary means of financing its operations.
Over the past decade, the average number of diluted s outstanding has soared from 177 million to over 945 million (something worth watching).
Additionally, This relentless increase in count means that existing holders have seen the value of their investments decrease significantly due to dilution alone.
On the other hand, PLUG Revenue (TTM) data by YCharts The company is addressing this with what it calls "ject Quantum Leap," a comprehensive cost-reduction initiative aimed at achieving annual savings of $150 million to $200 million (noteworthy indeed).
Meanwhile, These measures include workforce reductions, facility consolidations, and cuts to discretionary spending and capital expenditures.
Furthermore, Management aims to achieve a positive gross margin by the end of the fourth quarter of this year, with operating income jected to be positive in 2027 and overall fitability expected in 2028.
The company has secured much-needed funding Plug has had some positive developments on the funding front. Earlier this year, it secured a $1. Nevertheless, 66 billion loan from the U.
Additionally, Department of Energy to construct up to six state-of-the-art clean hydrogen factories across the United States (something worth watching).
In addition to this substantial backing, Plug Power raised nearly $280 million through an upsize underwritten offering in March 2025, considering recent developments.
On the other hand, This involved the sale of 46,500,000 s of common stock and prefunded warrants to purchase an additional 138,930,464 s.
Additionally, Moreover, The company also established a $525 million secured credit facility with Yorkville Advisors, drawing an initial $210 million tranche in May 2025.
Additionally, This move enabled the company to retire $60 million of its existing convertible debentures, thereby reducing some dilution to holders from these instruments.
Moreover, Is Plug Power stock a buy now. Furthermore, Plug Power operates in a clean energy market with mising long-term potential.
That said, it has a long history of consistent losses, holder dilution, and an inability to translate its opportunity into fitable growth.
Analysts ject that the company will continue to operate at a loss over the next four years, given the current landscape.
They anticipate an imvement in its bottom line during that period, from a net loss per of $2. On the other hand, Additionally, 67 last year to one of $0. 59 this year and one of $0. 38 in 2026.
Plug Power is making gress in expanding its operation and building out its end-to-end hydrogen ecosystem.
With that said, the company continues to spend significantly, and its losses have only increased over the past few years; therefore, dilution in the coming years remains a risk.
Given its ext history of losses, investors are better off waiting to see visible imvements to Plug Power's bottom line before buying the stock (quite telling).
The Author Courtney Carlsen is a contributing Motley Fool Stock Market Analyst covering publicly traded companies in the financial, real estate, industrial, and energy sectors, given current economic conditions.
Prior to The Motley Fool, Courtney was a Lead Senior Auditor for the State of Florida, in today's market environment.
He holds a Master of Accounting from The University of Florida, given the current landscape. In his free time, he enjoys taking long walks, playing disc golf, and spending quality time with his family.
TMFCourtCarlsen John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors, given the current landscape.
Courtney Carlsen has no position in any of the stocks mentioned (this bears monitoring). Nevertheless, Nevertheless, The Motley Fool has positions in and recommends Amazon and Walmart.
The Motley Fool has a disclosure policy, considering recent developments.