Plug Reports Revenue of ~$178 Million, ~Break-Even Gross Margin, Net Cash Usage of ~$61 Million and Increases Revenue Guidance for 2026
Plug Power reported Q2 revenue of $178 million, up sequentially, with gross margins reaching breakeven compared to a negative 31% in the prior year. Operating expenses were cut 50% year-over-year to $62 million, reducing net cash usage to $61 million, while unrestricted cash stood at $162 million.
Key figures
- Revenue
- 178299000
- Guidance
- full-year 2026 revenue growth target of 15% to 16%
- Gross margin
- ~breakeven
- Net cash usage
- 61000000
- Service margin
- 27%
- Service revenue
- 30000000
- Unrestricted cash
- 162000000
- Operating expenses
- 62000000
AI analysis
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