普拉格能源 2026年季度报告

FORM10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2026 OR ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 FOR THE TRANSITION PERIOD FROMTO Commission File Number: 1-34392 PLUG POWER INC. (Exact name of registrant as specified in its charter) Delaware22-3672377(State or Other Jurisdiction of(I.R.S. EmployerIncorporation or Organization)Identification Number) 125 VISTA BOULEVARD, SLINGERLANDS, NEW YORK 12159(Address of Principal Executive Offices, including Zip Code) (518) 782-7700(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Name of Each Exchange on WhichRegisteredThe NASDAQ Capital Market Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)ofthe Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant wasrequired to file such reports), and (2)has been subject to such filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for suchshorter period that the registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non- accelerated filer,smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “acceleratedfiler,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large acceleratedfiler☒Accelerated filer☐Non-acceleratedfiler☐Smallerreportingcompany☐Emerginggrowthcompany☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a)of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐No☒ The number of shares of common stock, par value of $.01 per share, outstanding as of May 6, 2026 was1,395,069,082 shares. INDEX to FORM10-Q PART I. FINANCIAL INFORMATIONItem 1 – Interim Condensed Consolidated Financial Statements (Unaudited)3Condensed Consolidated Balance Sheets3Condensed Consolidated Statements of Operations4Condensed Consolidated Statements of Comprehensive Loss5Condensed Consolidated Statements of Stockholders’ Equity6Condensed Consolidated Statements of Cash Flows7Notes to Interim Condensed Consolidated Financial Statements8Item 2 – Management’s Discussion and Analysis of Financial Condition and Results of Operations27Item 3 – Quantitative and Qualitative Disclosures About Market Risk41Item 4 – Controls and Procedures41PART II. OTHER INFORMATIONItem 1 – Legal Proceedings43Item 1A – Risk Factors43Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds43Item 3 – Defaults Upon Senior Securities44Item 4 – Mine Safety Disclosures44Item 5 – Other Information44Item 6 – Exhibits45Signatures47 PART I. FINANCIAL INFORMATION Item 1 — Interim Condensed Consolidated Financial Statements (Unaudited) Plug Power Inc. and SubsidiariesCondensed Consolidated Balance Sheets(In thousands, except share and per share amounts)(Unaudited) The accompanying notes are an integral part of these unaudited interim condensed consolidated financialstatements. Plug Power Inc. and SubsidiariesCondensed Consolidated Statements of Operations(In thousands, except share and per share amounts)(Unaudited) The accompanying notes are an integral part of these unaudited interim condensed consolidated financialstatements. Plug Power Inc. and SubsidiariesCondensed Consolidated Statements of Comprehensive Loss(In thousands)(Unaudited) The accompanying notes are an integral part of these unaudited interim condensed consolidated financialstatements. Plug Power Inc. and SubsidiariesCondensed Consolidated Statements of Cash Flows(In thousands)(Unaudited) Purchases of property, plant and equipment(2,407)(40,451)Purchases of equipment related to power purchase agreements and equipment related to fuel delivered tocustomers(5,707)(5,608)Cash paid for non-consolidated entities and non-marketable securities(367)(514)Net cash used in investing activities(8,481)(46,573) 1.Nature of Operations Plug Power Inc. (the “Company,” “Plug,” “we” or “our”) is facilitating the paradigm shift to anincreasingly electrified world by innovating cutting-edge hydrogen and fuel cell solutions. While wecontinue to develop commercially viable hydrogen and fuel cell product solutions, we have expanded ourofferings to support a variety of commercial operations that can be powere