Cash Burn And LiquidityPLUG burned approximately $1.9B of cash and is in prove-me mode on cash, margins, and DOE loan, highlighting concerns over financial stability.
Execution RisksPLUG has repeatedly missed financial targets set during Analyst Days in FY23 and has not provided quantitative financial guidance for FY24, contributing to investor uncertainty.
Financial PerformanceMargins are expected to improve sequentially in Q1, but more material improvements should be seen from Q2 onwards, indicating a slower progress in profitability.