{"url_path":"/sec/plug/10-q/2026/item-1a","section_key":"item-1a","section_title":"Item 1A Risk Factors**","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-11","source_url":"https://www.sec.gov/Archives/edgar/data/1093691/0001104659-26-058712-index.html","accession_number":"0001104659-26-058712","cik":"0001093691","ticker":"PLUG","issuer_name":"PLUG POWER INC","edgar_url":"https://www.sec.gov/Archives/edgar/data/1093691/0001104659-26-058712-index.html","primary_entity_key":"0001093691","primary_entity_name":"PLUG POWER INC"},"word_count":453,"has_tables":true,"body_markdown":"**Item 1A – Risk Factors**\n\n​\n\nIn addition to the other information set forth in this Quarterly Report on Form 10-Q, you should carefully consider the risk factors that could materially affect the Company’s business, financial condition or future results discussed in the Company’s 2025 Form 10-K in Part I, Item 1A “Risk Factors.” The risks described in the 2025 Form 10-K are not the only risks that could affect the Company. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial may also materially adversely affect our business, financial condition and/or operating results in the future. As a supplement to the risk factors identified in the 2025 Form 10-K, below we have set forth an updated risk factor. Other than as provided below, there have been no material changes to the risk factors identified in the 2025 Form 10-K.\n\n​\n\nDisruptions to international shipping routes and regional instability, including in and around the Strait of Hormuz, may delay deliveries, increase costs, and adversely affect our ability to fulfill customer orders and recognize revenue.\n\n​\n\nWe rely on global logistics, including shipping routes through the Middle East and other key transit networks, to deliver products to our customers. Disruptions affecting these supply chain routes, including geopolitical tensions, military activity, or other instability, may delay, restrict, or prevent the movement of goods, increase transit times, or significantly increase freight, insurance, and security costs. For example, we have experienced and may continue to experience delays in delivering customer orders due to disruptions in and around critical chokepoints such as the Strait of Hormuz. In response, we have utilized, and may continue to utilize, alternative logistics solutions, including overland transportation and rerouting through other ports, which has increased our logistics costs and extended delivery timelines. However, such alternatives may be limited, less reliable, more costly, or unavailable on commercially reasonable terms. They may also introduce additional risks, including damage to products, loss in transit, customs or border delays, and reduced visibility into shipment status.\n\n​\n\nThese types of disruptions may impair our ability to fulfill customer orders in a timely manner, delay commissioning and installation, and defer revenue recognition and cash collections. In addition, we may incur incremental costs such as additional freight, storage, or contractual penalties, and we may be required to provide concessions or other accommodations to customers. Prolonged or severe disruptions could also result in order cancellations, reduced demand, or damage to customer relationships. If we are unable to effectively manage these logistics and transportation risks or adapt our supply chain and delivery methods in a timely and cost-effective manner, our business, financial condition, results of operations, and cash flows could be materially adversely affected.\n\n​"}