AI Earnings Predictions for Plug Power Inc. (PLUG)

EX-99.1

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EXHIBIT 99.1

Exhibit 99.1

Plug Reports Revenue of ~$178 Million, ~Break-Even Gross Margin, Net Cash Usage of ~$61 Million and Increases Revenue Guidance for 2026

SLINGERLANDS,

N.Y., Aug. 10, 2026 – Plug Power Inc. (NASDAQ: PLUG), a global leader in comprehensive hydrogen solutions for the hydrogen economy, today reported second quarter 2026 results. As compared to the prior year and prior quarter, the Company delivered higher revenue, significant gross margin expansion, substantially lower operating expenses, and lower net cash usage. This was coupled with ongoing disciplined capital management and continued commercial execution across its core businesses.

"Our second quarter results demonstrate that Plug is executing its transformation into a stronger, more efficient and profitable company," said Jose Luis Crespo, Chief Executive Officer of Plug Power. "We delivered revenue growth, improved gross margins, reduced operating expenses, strengthened liquidity, and advanced major commercial milestones across our core businesses. We continue to expand our installed material handling base, which also builds our recurring revenues through equipment replacements, service, and hydrogen fuel. Our electrolyzer pipeline continues to expand, and we see an increasing conversion rate. Given the historically second-half-weighted cadence of our business and the strength of our commercial backlog, we are raising our full-year 2026 revenue growth guidance to a range of 15% to 16%. We believe we are on track to achieve our positive EBITDAS target in the fourth quarter of 2026."

Key Second Quarter Highlights

Second quarter results reflect continued execution of Plug's strategy to improve profitability while continuing to grow our revenue streams across our core businesses in material handling, hydrogen production, and electrolyzers.

·Gross margin improved to ~breakeven compared to ~(31%) in the prior-year period and ~(13%) in the first quarter of 2026. Equally important, this demonstrates that our breakeven threshold continues to lower as we improve margins.

·Operating expenses declined ~50% year over year to ~$62 million, representing continued execution of cost discipline coupled with our ongoing focus on asset monetization.

·Net revenue was ~$178 million, which reflects quarterly growth sequentially of ~9%.

·GAAP

EPS was $(0.14) compared to prior year of $(0.20).

·Adjusted EPS was ($0.07) compared to prior year adjusted EPS of ($0.18) (see the reconciliation in the attached financial tables).

Commercial & Operational Execution

Plug continued translating its commercial pipeline into executed projects while expanding its global hydrogen platform.

Material Handling

Plug's material handling business continues to demonstrate strong commercial momentum, supported by an expanding installed base and increasing recurring revenue.

Quarter Highlights

·Deployed 1,666 GenDrive fuel cell units in the quarter, more than doubling deployments of 739 units in Q2 2025 (up 125% year over year).

·Two of Plug's largest material handling customers are planning to refresh more than 20,000 GenDrive units over the next three years, creating a significant recurring revenue opportunity as customers upgrade to Plug's newest generation fuel cell technology.

·Service revenue grew 82% year over year to ~$30 million, demonstrating the increasing value of Plug's expanding installed base and growing recurring aftermarket revenue.

·Service margin was 27% positive for the quarter. The Company has seen continued improvement in unit performance driven from increased reliability and in turn this is enabling the Company to increase units per service tech profiles, which drives improved overhead leverage.

GenEco Electrolyzers

Plug continued converting its commercial pipeline into executable projects, demonstrating increasing customer confidence in large-scale PEM electrolyzer deployments.

Quarter Highlights

·We announced the FID of the 30 MW Barrow Green Hydrogen project for Carlton Power in the UK. This is part of the 55 MW awarded in November 2025. We expect the additional 25 MW to reach FID in 2026.

·We announced the selection for the 275 MW GenEco FEED scope on Hy2gen's Courant Project in Québec.

·On July 7, 2026 we announced that Plug secured a 50 MW GenEco electrolyzer order following Final Investment Decision for Orica's Hunter Valley Hydrogen Hub, Australia's largest renewable hydrogen project to reach FID which builds on the commercial momentum in Q2.

·Advanced execution on major deployments, with the 100 MW GALP project in Portugal and the 25 MW Iberdrola and BP project in Spain continuing to progress through commissioning activities.

Hydrogen Production

Plug continued strengthening its vertically integrated hydrogen platform, supporting growing customer demand while improving production efficiency and expanding recurring fuel revenue.

Quarter Highlights

·Fuel revenue increased ~15% year over

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