Plug Power says on track with 2026 revenue growth guidance, supported by margin improvement
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Plug Power (PLUG) fell 2.7% pre-market Thursday after saying it remains on track with FY 2026 revenue growth guidance, supported by continued margin improvement and record-low net cash usage.
Based on preliminary, unaudited estimates, Plug (PLUG) said it expects revenue growth of greater than 10% in Q3 compared to the year-earlier quarter, suggesting it is on track to achieve its prior full-year revenue growth guidance of 15%-16%, supported by commercial execution across material handling, electrolyzers, and hydrogen supply.
The company said it has displayed gross margin improvement over the past two quarters and expects continued Y/Y progress in Q3, reflecting cost reductions and improved operating leverage.
Plug (PLUG) also said its net cash usage for Q3 totaled $28M and ended the quarter with $134M in cash and cash equivalents.
The company is scheduled to issue its Q3 earnings report on November 9 and plans its Plug Symposium 2026 on November 19.
Plug (PLUG) shares hit an intraday 52-week low of $1.42 on Wednesday before closing at $1.45, down 7%.
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