PLUG reports Q1 revenue of $163.5 million, exceeding expectations by $23.75 million amid strong demand in key segments.
Plug Power posted a Q1 non-GAAP loss per share of $0.08, narrower than the expected $0.10, as revenue climbed 22% year-over-year to $163.51 million. The result surpassed estimates by $23.75 million, driven by growth in material handling and electrolyzer businesses.
Analysts had anticipated revenue of $139.76 million for the quarter, while the prior-year period saw $133.7 million. The company’s performance reflects expanding adoption in hydrogen energy solutions.
Shares fell 4% in immediate after-hours trading despite the earnings beat.