Plug Power, Inc. (NASDAQ:PLUG) released its second-quarter results after Monday's closing bell. Here's a look at the details in the report.
The Details: Plug Power reported quarterly losses of 20 cents per share, which missed the analyst estimate for losses of 16 cents.
Quarterly revenue came in at $173.97 million, which beat the Street estimate of $157.1 million and is up from revenue of $143.35 million from the same period last year.
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Plug Power reported the following second-quarter highlights:
- Electrolyzer revenue tripled year-over-year, reaching approximately $45 million in the second quarter.
- Gross margin for the second quarter of 2025 improved to -31% from -92% in the second quarter of 2024, a result of service cost reductions, equipment cost improvements and improved hydrogen pricing.
- Net cash used in operating and investing activities declined over 40% year-over-year.
- Plug exited the second quarter with over $140 million in unrestricted cash and cash equivalents.
Outlook: Plug said it expects to achieve gross margin breakeven on a run-rate basis in the fourth quarter of this year due to continued cost discipline, enhanced service execution and scale benefits.
PLUG Stock Price: According to data from Benzinga Pro, Plug Power stock was down 6.58% at $1.48 in Monday's extended trading.
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