Plug Power Inc. Reports Strong Q3 2025 Results

Plug Power Inc ( (PLUG) ) has released its Q3 earnings. Here is a breakdown of the information Plug Power Inc presented to its investors.

Plug Power Inc., a leader in hydrogen solutions, is at the forefront of the hydrogen economy, providing a comprehensive ecosystem for hydrogen production, storage, delivery, and power generation across various industries. The company is recognized for its pioneering efforts in deploying industrial-scale hydrogen solutions globally.

Plug Power Inc. reported $177 million in revenue for the third quarter of 2025, showcasing strong performance in its electrolyzer business and hydrogen fuel sales. The company also highlighted a significant capital raise of $370 million, reflecting investor confidence, and ongoing efforts to reduce cash burn, positioning it well for future growth.

The company’s financial performance included a net cash usage reduction in operating activities by 49% year-over-year, and a notable improvement in adjusted gross loss, which decreased to $37 million from $86 million in the previous year. Strategic initiatives under Project Quantum Leap are driving margin improvements and cash flow enhancements, despite a GAAP gross loss of $120 million. Plug Power also reported an adjusted EPS of ($0.12), an improvement from the previous year’s ($0.23).

Plug Power continues to focus on expanding its material handling, electrolyzer, and hydrogen fuel businesses, with significant progress in global deployments and customer adoption. The company is advancing large-scale projects across Europe, Australia, and North America, and has achieved record production performance at its Georgia Green Hydrogen Plant.

Looking ahead, Plug Power is poised for disciplined growth under new leadership, with strategic plans to scale into new markets and strengthen its position in the hydrogen economy. The company remains committed to executing its strategic priorities and achieving its EBITDAS-positive target by the second half of 2026.