Bank CEOs meet with Trump to discuss Fannie Mae and Freddie Mac - Bloomberg
SLINGERLANDS, N.Y. - Plug Power Inc. (NASDAQ:PLUG) reported first-quarter 2025 results that fell short of analyst expectations, sending shares down 2.6% in premarket trading Tuesday. The hydrogen solutions provider posted weaker-than-anticipated revenue but showed improvements in cash flow and gross margins.
Plug Power reported Q1 revenue of $133.7 million, up 11.1% YoY but below the analyst consensus of $138.41 million. Adjusted earnings per share came in at -$0.21, missing estimates by $0.02. Despite the misses, the company highlighted progress in its electrolyzer business and hydrogen production capabilities.
Gross margin loss improved to -55% in Q1 2025 from -132% in the same quarter last year, reflecting supply chain optimization and cost reduction efforts. Net cash used in operating and investing activities declined to $152.1 million from $288.3 million YoY.
CEO Andy Marsh stated, "With new capacity online in Louisiana, accelerating adoption of our GenEco electrolyzers, and improved cash flow discipline, Plug is executing with focus and urgency."
The company commissioned a 15-ton-per-day hydrogen liquefaction plant in Louisiana during the quarter, increasing its U.S. hydrogen production capacity to approximately 40 tons per day. Plug’s electrolyzer business saw revenue growth of 575% YoY.
For Q2 2025, Plug Power expects revenue between $140 million and $180 million. The company ended Q1 with $295.8 million in unrestricted cash and recently closed on a $525 million secured credit facility to enhance liquidity.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.