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Plug Power reported a loss of 12 cents per share, which was nearly double the loss analysts had expected. While revenue of about 201 million dollars was in line with targets and grew 13 percent from last year, the company is still struggling to reach profitability. Gross margin, which measures how much profit is left after paying for the direct costs of making products, improved significantly but remains a key area to watch.
The most positive sign was a sharp reduction in cash burn. The company used only 28 million dollars in cash this quarter, a record low that suggests management is getting better at controlling spending. This is critical because Plug Power has historically relied on selling more stock to stay afloat. If it can keep spending low while growing sales, it has a better chance of reaching its goal of positive earnings by the end of 2026 without needing to raise more money from shareholders.
See the full quarter, and how our tracked metrics did
Source: 8-K filing
Susquehanna lowered its price target for Plug Power from $2.50 to $1.75 while keeping a neutral rating. This means the firm does not currently recommend buying or selling the stock. The new target is closer to the current price of $1.50, reflecting a more cautious view of the company's near-term value. The average target across all analysts remains higher at about $3.
Source: Susquehanna
Management has missed its own earnings targets for eight straight quarters. This pattern suggests the company is consistently over-promising on how quickly it can turn its hydrogen infrastructure into a profitable operation.
| Expectation | |
|---|---|
| EPS | $-0.07 |
| Revenue | $198M |