Quick Read – Plug Power (PLUG) is surging 393% on hydrogen hype, but the math is broken: Huge Q1 net loss, negative gross margins, and no profitability until 2028. – Air Products and Chemicals (APD) just pulled back to $290.19 with a 44-year dividend streak, accelerating…
rnings, and mission-critical semiconductor/space contracts locked in. – The analyst who called NVIDIA in 2010 just named his top 10 stocks and Air Products & Chemicals wasn’t one of them. Get them here FREE
Plug Power (NASDAQ:PLUG) is the headline darling again, with shares up 393.28% over the past year as retail traders pile back into the hydrogen narrative on tax-credit chatter and high-profile customer name-drops. But here’s what you should actually be watching. The Plug Power Math Still Does Not Work Strip away the story and the financials are brutal.
Plug Power’s Q1 FY2026 net loss came in at -$245.30 million, a 24.74% worse result year over year, with operating cash burn of -$150.04 million in the quarter alone. Gross margin is still negative at -13%. Cash on the balance sheet sits at just $223.19 million against an accumulated deficit of $8.2 billion, and shareholders’ equity has collapsed 58.33% year over year.