Plug Power annual r&d spending
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Plug Power R&D Spending Growth & History (PLUG)
Plug Power's r&d spending was $58.0M for fiscal 2025.
View full Plug Power company overviewPlug Power annual r&d spending history
| Fiscal year | Period ended | R&D spending | Change | Growth |
|---|---|---|---|---|
| 2025 | 2025-12-31 | $58.0M | −$19.3M | −24.95% |
| 2024 | 2024-12-31 | $77.2M | −$36.5M | −32.11% |
| 2023 | 2023-12-31 | $113.7M | $14.2M | +14.23% |
| 2022 | 2022-12-31 | $99.6M | $34.8M | +53.76% |
| 2021 | 2021-12-31 | $64.8M | $36.9M | +132.56% |
| 2020 | 2020-12-31 | $27.8M | $12.8M | +84.93% |
| 2019 | 2019-12-31 | $15.1M | $2.3M | +18.11% |
| 2018 | 2018-12-31 | $12.8M | −$15.9M | −55.56% |
| 2017 | 2017-12-31 | $28.7M | $7.5M | +35.49% |
| 2016 | 2016-12-31 | $21.2M | $6.2M | +41.67% |
| 2015 | 2015-12-31 | $14.9M | $8.5M | +131.07% |
| 2014 | 2014-12-31 | $6.5M | $3.3M | +107.27% |
| 2013 | 2013-12-31 | $3.1M | −$2.3M | −42.57% |
| 2012 | 2012-12-31 | $5.4M | −$221,513 | −3.92% |
| 2011 | 2011-12-31 | $5.7M | −$7.2M | −56.16% |
| 2010 | 2010-12-31 | $12.9M | −$3.4M | −20.97% |
| 2009 | 2009-12-31 | $16.3M | — | — |
Plug Power quarterly r&d spending
Q2.10
Q3.10
Q1.11
Q2.11
Q3.11
Q4.11
Q1.12
Q2.12
Q3.12
Q4.12
Q1.13
Q2.13
Q3.13
Q4.13
Q1.14
Q2.14
Q3.14
Q4.14
Q1.15
Q2.15
Q3.15
Q4.15
Q1.16
Q2.16
Q3.16
Q4.16
Q1.17
Q2.17
Q3.17
Q4.17
Q1.18
Q2.18
Q3.18
Q1.19
Q2.19
Q3.19
Q4.19
Q1.20
Q2.20
Q3.20
Q4.20
Q1.21
Q2.21
Q3.21
Q4.21
Q1.22
Q2.22
Q3.22
Q4.22
Q1.23
Q2.23
Q3.23
Q4.23
Q1.24
Q2.24
Q3.24
Q4.24
Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
Q2.26
| Fiscal quarter | Period ended | R&D spending | Change | YoY change |
|---|---|---|---|---|
| Q2 2026 | 2026-06-30 | $13.4M | $1.2M | +10.06% |
| Q1 2026 | 2026-03-31 | $12.1M | −$5.2M | −30.21% |
| Q4 2025 | 2025-12-31 | $12.3M | −$1.0M | −7.54% |
| Q3 2025 | 2025-09-30 | $16.1M | −$3.6M | −18.23% |
| Q2 2025 | 2025-06-30 | $12.2M | −$6.7M | −35.62% |
| Q1 2025 | 2025-03-31 | $17.4M | −$7.9M | −31.34% |
| Q4 2024 | 2024-12-31 | $13.3M | −$17.0M | −56.14% |
| Q3 2024 | 2024-09-30 | $19.7M | −$7.9M | −28.71% |
| Q2 2024 | 2024-06-30 | $18.9M | −$10.3M | −35.25% |
| Q1 2024 | 2024-03-31 | $25.3M | −$1.3M | −4.73% |
| Q4 2023 | 2023-12-31 | $30.3M | $2.9M | +10.39% |
| Q3 2023 | 2023-09-30 | $27.7M | −$454,000 | −1.62% |
| Q2 2023 | 2023-06-30 | $29.3M | $5.7M | +24.17% |
| Q1 2023 | 2023-03-31 | $26.5M | $6.1M | +29.69% |
| Q4 2022 | 2022-12-31 | $27.5M | $317,000 | +1.17% |
| Q3 2022 | 2022-09-30 | $28.1M | $11.5M | +68.96% |
| Q2 2022 | 2022-06-30 | $23.6M | $12.3M | +109.45% |
| Q1 2022 | 2022-03-31 | $20.5M | $10.7M | +110.03% |
| Q4 2021 | 2021-12-31 | $27.1M | $16.3M | +150.94% |
| Q3 2021 | 2021-09-30 | $16.6M | $9.2M | +125.21% |
| Q2 2021 | 2021-06-30 | $11.2M | $6.4M | +130.80% |
| Q1 2021 | 2021-03-31 | $9.7M | $5.0M | +104.06% |
| Q4 2020 | 2020-12-31 | $10.8M | $5.9M | +121.53% |
| Q3 2020 | 2020-09-30 | $7.4M | $3.8M | +107.30% |
| Q2 2020 | 2020-06-30 | $4.9M | $1.3M | +35.06% |
| Q1 2020 | 2020-03-31 | $4.8M | $1.8M | +58.82% |
| Q4 2019 | 2019-12-31 | $4.9M | — | — |
| Q3 2019 | 2019-09-30 | $3.6M | −$4.8M | −57.59% |
| Q2 2019 | 2019-06-30 | $3.6M | −$4.8M | −57.19% |
| Q1 2019 | 2019-03-31 | $3.0M | −$5.6M | −65.24% |
| Q3 2018 | 2018-09-30 | $8.4M | $966,000 | +12.99% |
| Q2 2018 | 2018-06-30 | $8.4M | $1.8M | +27.20% |
| Q1 2018 | 2018-03-31 | $8.6M | $2.6M | +44.18% |
| Q4 2017 | 2017-12-31 | $8.6M | $2.5M | +40.50% |
| Q3 2017 | 2017-09-30 | $7.4M | $2.4M | +48.69% |
| Q2 2017 | 2017-06-30 | $6.6M | $1.4M | +27.38% |
| Q1 2017 | 2017-03-31 | $6.0M | $1.2M | +24.18% |
| Q4 2016 | 2016-12-31 | $6.1M | $1.7M | +36.83% |
| Q3 2016 | 2016-09-30 | $5.0M | $870,000 | +21.06% |
| Q2 2016 | 2016-06-30 | $5.2M | $1.8M | +51.85% |
| Q1 2016 | 2016-03-31 | $4.8M | $1.9M | +66.49% |
| Q4 2015 | 2015-12-31 | $4.5M | $2.3M | +106.62% |
| Q3 2015 | 2015-09-30 | $4.1M | $2.5M | +151.28% |
| Q2 2015 | 2015-06-30 | $3.4M | $2.0M | +144.99% |
| Q1 2015 | 2015-03-31 | $2.9M | $1.6M | +131.45% |
| Q4 2014 | 2014-12-31 | $2.2M | $1.4M | +179.39% |
| Q3 2014 | 2014-09-30 | $1.6M | $875,035 | +113.79% |
| Q2 2014 | 2014-06-30 | $1.4M | $574,419 | +69.75% |
| Q1 2014 | 2014-03-31 | $1.3M | $502,912 | +67.01% |
| Q4 2013 | 2013-12-31 | $777,970 | −$566,756 | −42.15% |
| Q3 2013 | 2013-09-30 | $768,965 | −$516,010 | −40.16% |
| Q2 2013 | 2013-06-30 | $823,581 | −$753,496 | −47.78% |
| Q1 2013 | 2013-03-31 | $750,484 | −$476,973 | −38.86% |
| Q4 2012 | 2012-12-31 | $1.3M | −$663,201 | −33.03% |
| Q3 2012 | 2012-09-30 | $1.3M | −$193,872 | −13.11% |
| Q2 2012 | 2012-06-30 | $1.6M | $470,829 | +42.56% |
| Q1 2012 | 2012-03-31 | $1.2M | $164,731 | +15.50% |
| Q4 2011 | 2011-12-31 | $2.0M | — | — |
| Q3 2011 | 2011-09-30 | $1.5M | −$606,775 | −29.09% |
| Q2 2011 | 2011-06-30 | $1.1M | −$3.3M | −74.75% |
| Q1 2011 | 2011-03-31 | $1.1M | — | — |
| Q3 2010 | 2010-09-30 | $2.1M | — | — |
| Q2 2010 | 2010-06-30 | $4.4M | — | — |
Plug Power r&d spending trends
Over the last five fiscal years, Plug Power's r&d spending increased from $27.8M to $58.0M, a change of $30.1M. The latest reported quarter, Q2 2026, shows $13.4M.
About the metric
What research and development spending means
Research and development (R&D) spending covers the costs of creating and improving products, services, software, technologies, and processes. Higher R&D spending may support future innovation, but the amount alone does not show whether those investments will generate returns.
Calculation and source
SEC-reported R&D expense
TickerStat standardizes research and development expense reported in company SEC filings, including the software-specific US-GAAP R&D concept when it is the filer’s primary R&D expense line. It is historical company-reported spending, not an estimate or forecast. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review Plug Power source filings ↗