Overview
- Plug Power says it is pivoting from growth at all costs to a leaner operating model under Project Quantum Leap.
- Electrolyzer revenue reached $119.5 million through Sept. 30, up 61% year over year and roughly one-quarter of total sales.
- Recent commercial wins include a 55 MW equipment and service agreement with U.K. developer Carlton Power and a liquid hydrogen supply contract with NASA.
- The company has secured outside financing to extend its runway, even as it continues to post operating losses and manage cash burn.
- Shares are down more than 90% over five years and some analyst lists exclude the stock, reflecting ongoing dilution concerns and divided sentiment.