Plug Power reported Q1 adjusted loss of $0.08 per share, beating consensus $0.10 loss.
Revenue rose 22% YoY to $163.5 million, surpassing the $147.97 million estimate, driven by material handling and electrolyzer growth.
GAAP gross margin improved to –13% from –55% YoY, a 42‑point gain aided by cost cuts and fuel sourcing efficiencies.
Cash balance stood at $802 million ($223 m unrestricted, $579 m restricted); expects $275 million from asset monetization, first $142 million deal in June.