Plug Power Just Cut Its Losses in Half. Is It Time to Buy the Hydrogen Stock?

Plug Power reduced its adjusted net loss to $0.07 per share in Q2, more than halving losses from the prior year, while revenue climbed 9% to $178 million. Operating expenses dropped 50% year-over-year as the hydrogen company reached breakeven gross margin for the quarter.

The company raised its full-year revenue guidance to a range of 15% to 16% growth, signaling confidence in near-term demand. The operating expense reduction marks a key milestone in PLUG's cost-cutting drive as it works toward sustainable operations.

Liquidity remains a significant concern. The company burned $61 million in cash during the quarter and is not expected to achieve overall profitability until the end of 2028, according to analyst projections. The extended timeline to profitability leaves PLUG dependent on its balance sheet and capital markets to fund operations for the next several years.