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Plug Power vs ERock: PLUG and EROC compared
Plug Power is the larger company: $178M of revenue in its latest quarter (Q2 2026) against $39.9M for ERock (Q2 2026). Plug Power is growing faster (+2% against -42% a year earlier). Plug Power is more profitable, with an operating margin of -36.0% against -49.8%.
Where the money goes: PLUG and EROC
Plug Power (PLUG) · Q2 2026
Plug Power, Q2 2026: revenue $178M (+2% year over year), operating margin -36.0%, net loss $190M, operating cash flow −$94.1M. The chart follows the revenue to costs, profit and cash.
ERock (EROC) · Q2 2026
ERock, Q2 2026: revenue $39.9M (-42% year over year), operating margin -49.8%, net loss $67.7M. The chart follows the revenue to costs, profit and cash.
| Plug Power (PLUG) | ERock (EROC) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q2 2026 |
| Revenue | $178M | $39.9M |
| Revenue growth, Y/Y | +2% | -42% |
| Operating margin | -36.0% | -49.8% |
| Net earnings | −$190M | −$67.7M |
| Net margin | -106.6% | -169.8% |
| Operating cash flow | −$94.1M | — |
Where the revenue comes from
Plug Power
- Sales of equipment, related infrastructure and other: $82.1M (46%)
- Fuel delivered to customers and related equipment: $39.5M (22%)
- Services performed on fuel cell systems and related infrastructure: $29.8M (17%)
- Sales of cryogenic equipment and liquefiers: $26.7M (15%)
ERock
- Power System Sales Revenues: $26.5M (66%)
- Ongoing Services Revenues: $13.4M (34%)
Questions
Which is bigger, Plug Power or ERock?
Plug Power is the larger company: $178M of revenue in its latest quarter (Q2 2026) against $39.9M for ERock (Q2 2026).
Is Plug Power or ERock growing faster?
Plug Power is growing faster (+2% against -42% a year earlier).
Which is more profitable, Plug Power or ERock?
Plug Power is more profitable, with an operating margin of -36.0% against -49.8%.
More: Plug Power earnings · how Plug Power makes money · ERock earnings · how ERock makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 10, 2026; 10-Q filed Aug 12, 2026). Fiscal quarters can end on different dates. Not investment advice.