Plug Power Inc. (NASDAQ: PLUG) filed a Current Report on Form 8-K on October 15, 2026, providing an update on its business progress and preliminary, unaudited financial results for the third quarter ended September 30, 2026. The company reported a net cash usage of approximately $28 million for Q3 2026, a figure the company attributes to fundamental operational improvements rather than additional capital raises.
According to the filing, Plug ended the third quarter with approximately $134 million in cash and cash equivalents, excluding restricted cash. The company did not raise any proceeds through its at-the-market (ATM) offering program or generate proceeds from other equity or debt capital raises during the quarter.
In terms of operational performance, Plug reported meaningful revenue growth in Q3 2026 of greater than 10% compared to the same period in 2025. The company stated it remains on track to achieve its previously communicated full-year revenue growth guidance of approximately 15% to 16%. Additionally, the company noted continued year-over-year progress in gross margins during the third quarter.
The filing also highlighted commercial developments in the company's electrolyzer pipeline, including a 280 MW GenEco electrolyzer supply agreement with Arcadia eFuels for Project ENDOR in Denmark, a 50 MW order with Orica for the Hunter Valley Hydrogen Hub in Australia, and the advancement of front-end engineering design for a 275 MW project with Hy2gen in Quebec.
Plug has scheduled its third quarter 2026 earnings call for November 9, 2026, at 4:30 p.m. ET. The company will also host its annual Plug Symposium 2026, themed "Resilient Energy, Real Solutions," on November 19, 2026, as a global digital broadcast.
