Plug Power Soars 11.76% on Q1 Results, New Funding

Plug Power's stock surged by 11.76% in pre-market trading on April 29, 2025, driven by the company's release of preliminary first-quarter results and a new funding agreement.

Plug Power announced better-than-expected preliminary Q1 results, with sales projected between $130 million and $134 million, surpassing analyst estimates. The company also guided for Q2 sales between $140 million and $180 million, indicating a significant improvement over the previous quarter. Additionally, Plug Power expects to achieve approximately $200 million in annual cost reductions this year.

The company secured a new $525 million credit agreement with Yorkville Advisors, which, combined with its existing unrestricted cash, provides added operational flexibility and refinancing options. This funding move is expected to support Plug Power's continued growth and cost-cutting initiatives, potentially leading to significant margin improvements despite a net loss of $2.1 billion in the previous year.