Financial PerformancePlug provided initial revenue guidance of $850-$950mn, below consensus of $1,112mn, and initial gross margin guidance of -20% to -5%, below consensus of 0.3%.
Market DemandThe global hydrogen demand growth is lower than expected, affecting PLUG's projections.
Regulatory And Political RiskThere is uncertainty in the US hydrogen market due to the Inflation Reduction Act rules being in flux and potentially changing with new administration.