Overview
- The company, which reported results on Aug. 10, posted $178.3 million in revenue and an adjusted loss of $0.07 per share, topping analyst expectations.
- Gross margin moved to roughly breakeven and operating expenses fell about 50% year over year to roughly $62 million, signaling meaningful cost discipline.
- Commercial execution accelerated with 1,666 GenDrive deployments in the quarter (up 125% year over year), service revenue up 82% and fuel revenue rising roughly 15%.
- Plug Power ended the quarter with about $162 million in cash and disclosed plans to sell assets to raise additional liquidity, targeting up to roughly $275 million including an $80 million sale.
- Investors reacted positively with an immediate stock pop and growing institutional ownership, but Wall Street remains split on the turnaround with a consensus Hold and mid-single‑digit price targets.