Balance Sheet PressureThe 'hydrogen economy' continues to be slow to develop, stretching PLUG's balance sheet to its limits.
Financial PerformancePlug reported 4Q revenue of $191M, significantly below consensus estimates, reflecting a ~$120M impact from push-outs and revenue opportunities that did not materialize during the quarter.
Regulatory EnvironmentAn uncertain regulatory environment is impacting expected benefits from measures like the Inflation Reduction Act.