Filing Flows › Plug Power (PLUG) › Q4 2024
Plug Power (PLUG) Q4 2024 earnings results (fourth quarter 2024)
10-K filed Mar 3, 2025
Plug Power (PLUG) reported revenue of $191M for the fourth quarter 2024 (Q4 2024), -14% from a year earlier and +10% from the quarter before. Operating margin was -678.7%, net loss $1.3B (697.6% of revenue).
Plug Power, Q4 2024: revenue $191M (-14% year over year), operating margin -678.7%, net loss $1.3B, operating cash flow −$131M. The chart follows the revenue to costs, profit and cash.
| Q4 2024 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $191M | +10% | -14% |
| Operating profit | −$1.3B | — | — |
| Net earnings | −$1.3B | — | — |
| Operating cash flow | −$131M | — | — |
What changed
Revenue was $191.5M in Q4 2024, down 14% year over year and up 10% from the previous quarter. Sales of electrolyzers was the largest line at 32% of revenue.
Operating costs exceeded revenue by $1,299.6M, an operating margin of -678.7%. Total costs grew 76% against a revenue fall of 14%. The fastest-growing cost line was Other operating costs (+256%). The quarter ended with a net loss of $1,335.6M, wider than the previous quarter's $211.2M loss. Minority interests bore $204K of it: to shareholders the quarter was a loss of $1,335.4M.
Operating cash flow was −$131.2M. Non-cash charges added back $18.7M of depreciation and amortization and $18.1M of share-based compensation. Working capital and other items added $1,167.6M. Capital expenditures of $34.0M exceeded it, leaving free cash flow of −$165.2M.
Questions
What was Plug Power's revenue in the fourth quarter 2024?
Plug Power (PLUG) reported revenue of $191M for the fourth quarter 2024 (Q4 2024), -14% from a year earlier and +10% from the quarter before.
Was Plug Power profitable in the fourth quarter 2024?
Operating loss was $1.3B (-678.7% of revenue) and net loss $1.3B.
Source: Plug Power 10-K on SEC EDGAR.