May. 13 at 10:47 AM
$PLUG As a reminder! Q1 results
Revenue: Increased 22% year-over-year to
$163.5 million.
Gross Margin: Improved from negative 55% to negative 13%, a 42 percentage point improvement.
Electrolyzer Revenue: Grew from
$9.2 million in Q1 2025 to
$40.8 million in Q1 2026.
Hydrogen Fuel Sales Growth: Increased by 10% year-over-year.
Material Handling Platform Growth: Grew by 15% year-over-year, excluding charges for customer warrants.
Cash Position: Ended the quarter with
$223 million in unrestricted cash and
$579 million in restricted cash, totaling
$802 million.
Adjusted EPS: Negative
$0.08 for Q1 2026, compared to negative
$0.17 in Q1 2025.
CapEx: Approximately
$7 million for the quarter.
Fuel Margin Improvement: Improved by 54 percentage points year-over-year.