Quick Answer
PLUG POWER INC reported R&D Expense of $57.96 million for fiscal year 2025.
PLUG POWER INC R&D Expense — Annual History
| Fiscal Year | R&D Expense | YoY Change |
|---|---|---|
| 2025 | $57.96M | -24.9% |
| 2024 | $77.23M | -32.1% |
| 2023 | $113.75M | +14.2% |
| 2022 | $99.58M | +53.8% |
| 2021 | $64.76M | +132.6% |
| 2020 | $27.85M | +84.9% |
| 2019 | $15.06M | +18.1% |
| 2018 | $12.75M | -55.6% |
| 2017 | $28.69M | +35.5% |
| 2016 | $21.18M | +41.7% |
| 2015 | $14.95M | +131.1% |
| 2014 | $6.47M | +107.3% |
| 2013 | $3.12M | -42.6% |
| 2012 | $5.43M | -3.9% |
| 2011 | $5.66M | -56.2% |
| 2010 | $12.90M | -21.0% |
| 2009 | $16.32M | — |
Quarterly R&D Expense
| Quarter Ending | R&D Expense | YoY | QoQ |
|---|---|---|---|
| September 30, 2025 | $16.12M | -18.2% | +32.2% |
| June 30, 2025 | $12.19M | -35.6% | -29.8% |
| March 31, 2025 | $17.36M | -31.3% | -11.9% |
| September 30, 2024 | $19.71M | -28.7% | +4.1% |
| June 30, 2024 | $18.94M | -35.3% | -25.1% |
| March 31, 2024 | $25.28M | -4.7% | -8.6% |
| September 30, 2023 | $27.65M | -1.6% | -5.5% |
| June 30, 2023 | $29.25M | +24.2% | +10.2% |
- PLUG POWER INC showed a decrease of -24.9% in R&D Expense compared to the prior fiscal year.
- Over the 2009–2025 period, PLUG POWER INC’s r&d expense has grown by 255.1% (from $16.32 million to $57.96 million).
- The most recent figure is from PLUG POWER INC’s fiscal year 2025 report (Form 10-K), filed with the SEC on March 2, 2026.
- All figures are sourced from SEC EDGAR XBRL filings, last verified June 17, 2026.
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