Plug Power reported a smaller-than-expected adjusted loss of $0.07 per share and $178.3 million in revenue for Q2.
Plug Power posted a Q2 adjusted loss of $0.07 per share, beating expectations by a penny, as revenue reached $178.3 million. Gross margins neared breakeven, reflecting cost cuts and growth initiatives.
Operating expenses fell 50% year over year, while deployed units more than doubled to 1,666, and service revenue surged 82%. The company holds over $160 million in cash, supporting its turnaround efforts.
Plug’s stock, down 90% from its peak, has risen 40% over the past 12 months amid sector optimism.