Shares of Plug Power (NASDAQ: PLUG), a leading hydrogen fuel cell company, staged a dramatic rebound during Monday’s trading session, skyrocketing as much as 46.9% intraday before settling at a 28.8% gain by 2:45 p.m. ET. The rally followed the company’s stronger-than-expected preliminary Q1 results and a major financing breakthrough.
According to the latest filings, Plug Power projects Q1 revenue between $130 million and $134 million, surpassing analysts’ consensus estimate of $130.5 million. Notably, net cash usage for the quarter narrowed sharply to $142 million, a significant improvement from $268 million in last year’s first quarter. Management emphasized ongoing cost-cutting measures, targeting $200 million in annualized savings this year.
For Q2, the company forecasts revenue of $140 million to $180 million. Hitting the midpoint would represent an 11.6% year-over-year increase compared to Q2 2024’s $143.4 million, driven by higher hydrogen equipment shipments and strategic pricing adjustments.
To bolster its financial position, Plug Power secured a $525 million credit facility with Yorkville Advisors. Combined with $296 million in unrestricted cash at the end of Q1, the deal strengthens operational flexibility and debt management. Despite a $2.1 billion net loss last year, the firm aims to improve margins through price hikes and cost optimization.
Market analysts highlight that the dual catalysts—upbeat guidance and fresh funding—have eased liquidity concerns and reignited hopes for hydrogen energy’s long-term growth trajectory. Investors now watch closely to see if this surge signals a turning point for the embattled sector.
