Plug Power reports Q4 revenue $191.5M, consensus $262.7M

Plug CEO Andy Marsh stated: “2024 was a year of strong execution and meaningful strategic progress for Plug as we advanced our initiatives and made strides in driving the hydrogen economy forward. While we made great strides in improving cash flows in 2024, it is clear based on market dynamics that we have to make additional strides, therefore we are initiating Project Quantum Leap to further position Plug for success in the near and long term by continuing to leverage the platforms we have built while further optimizing the Company. Hydrogen plays a crucial role in energy diversification and contributes to both economic growth and job creation. Plug has the solutions in place today, and we are committed to scaling further, ready to support the world’s energy goals and the increasing demand for reliable and resilient energy systems.”