Overview
- Plug Power, which reported results after the close Monday, posted $163.51 million in revenue and a loss of 8 cents a share, topping forecasts and driving double‑digit stock gains into Tuesday.
- Gross margin improved to negative 13% from negative 55% a year earlier as cost cuts, higher plant use, and less third‑party hydrogen lowered unit costs.
- The company ended the quarter with about $802 million in cash and is pursuing more than $275 million in asset sales, with an initial roughly $142 million deal targeted for June 2026 and a $39.2 million tax credit sale planned by the end of May.
- Electrolyzer revenue jumped 343% to $40.8 million on European projects, hydrogen fuel sales rose about 20%, and per‑unit service costs fell more than 30%, signaling better unit economics across the portfolio.
- Management reaffirmed goals for positive adjusted EBITDA in Q4 2026 and 13% to 15% revenue growth this year, and analysts lifted price targets, though success still hinges on closing asset deals and sustaining margin gains.