The analyst sees clear prospects for cash flow generation, and accelerating momentum on recent deal wins.

Sinha is confident that the company will achieve a break-even margin by the end of the year and generate cash flow next year, with the successful commissioning of several plants and project announcements in Europe.

The analyst expects PLUG to generate higher revenue from its electrolyzer business and boost margins.

Yesterday, the company secured a new electrolyzer deal in Europe.

The analyst sees the deal as an additive to PLUG’s guidance.

Sinha doesn’t expect any big updates in Q2 but projects a significant change in Q3 margins on new service contracts.

The analyst estimates revenues of $1.314 billion, an adjusted EBITDA loss of $(194.7) million, and an EPS loss of $(0.97) in 2023. 

For 2024, Sinha expects revenues of $2.083 billion, an adjusted EBITDA of $194.2 million, and an EPS loss of $(0.73) in 2024.

Price Action: PLUG shares are trading higher by 1.62% at $12.16 on the last check Friday.