Plug Power Q1 revenue $133.7M (+11% YoY), gross margin improves; Louisiana plant online

PLUG POWER INC

2025-Q1 EPS reported -$0.21 revenue$133,674,000

Revenue $133.7M vs $120.3M YoY; gross margin loss improves from -132% to -55%.
Net cash used in operating+investing falls to $152.1M from $288.3M; cash $295.8M.
Closed $525M secured credit facility with Yorkville; drew $210M, retired $82.5M convertible.
Commissioned 15-TPD hydrogen plant in Louisiana; signed 3 GW electrolyzer deal with Allied Green Ammonia.
Q2 2025 revenue guidance $140M-$180M; Project Quantum Leap targets >$200M annual savings.

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