Why Plug Power Stock Popped Today

PLUG surged 5.21% after the hydrogen fuel cell manufacturer raised its full-year revenue growth guidance to 15%-16% for 2026 and reaffirmed its target to reach positive EBITDA in the fourth quarter. The company's latest quarterly results showed service revenue jumped 82% to $30 million, while fuel revenue climbed 15% to $39 million.

GenDrive fuel cell unit deployments spiked 125% year-over-year, signaling strengthening demand for the company's core products. Gross margin swung to breakeven from negative 31% in the prior-year period, a dramatic improvement driven by cost-cutting measures and gains in production efficiency.

The margin expansion marks a critical inflection point for PLUG, which has struggled with profitability as it scales operations. The combination of accelerating deployment growth and stabilizing margins supports management's confidence in hitting positive EBITDA within months.