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Investing.com -- Shares of ITM Power PLC (LSE:ITM) climbed 9.5% following the company’s announcement of its first-half fiscal year 2025 results, which included an improved cash position guidance for the full year.
The hydrogen energy solutions provider reported revenue of £15.5 million and an adjusted EBITDA loss of £16.8 million for the first half of FY25. ITM Power also reiterated its full-year revenue guidance at £18-22 million and maintained its projected adjusted EBITDA loss of £36-32 million.
The company’s net cash guidance for the end of FY25 was notably revised upward to £185-195 million, from the previously guided range of £170-180 million. This positive adjustment in the cash position forecast was the primary driver behind the stock’s upward movement during the trading session.
RBC analysts commented on the results, stating, "We see this as a constructive release, with an improvement at FY25 cash guidance level and solid developments on operational and commercial fronts." This endorsement from analysts likely contributed to the optimistic investor sentiment surrounding ITM Power’s stock.
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