Plug Power Stock Sinks After Q2 Mixed Results: Details

Core Insights - Plug Power reported a quarterly loss of $0.20 per share, missing the analyst estimate of a $0.16 loss [1] - Quarterly revenue was $173.97 million, exceeding the Street estimate of $157.1 million and up from $143.35 million in the same period last year [1] Financial Performance - Electrolyzer revenue tripled year-over-year, reaching approximately $45 million in the second quarter [4] - Gross margin improved to -31% from -92% year-over-year, attributed to service cost reductions, equipment cost improvements, and better hydrogen pricing [4] - Net cash used in operating and investing activities declined over 40% year-over-year [4] - The company exited the second quarter with over $140 million in unrestricted cash and cash equivalents [4] Outlook - Plug Power 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 [2]