Plug Power Estimates Net Cash Use of $28 Million in Third Quarter
Key Facts
Plug Power estimated net cash use of about $28 million in the third quarter of 2026, saying this represented an improvement during the year. In an earlier update, the company reported about $134 million in cash and cash equivalents at quarter-end, excluding restricted cash. The figures come as markets track the company’s ability to fund its operations alongside business growth. The final revenue and earnings-per-share figures cited in other reports could not be verified from a reliable open source. The company scheduled its third-quarter results call for November 9 at 4:30 p.m. Eastern Time.
Plug Power said in an earlier update that preliminary estimates pointed to third-quarter revenue growth of more than 10% compared with the same period in 2025. The company maintained its 2026 revenue growth guidance at about 15% to 16%. The guidance places quarterly performance within the annual growth trajectory targeted by the company, while the shift from sales growth to financial improvement remains a key focus in assessing its results. The company said expected gross margin improvement reflects its focus on reducing costs and improving operating leverage. After reporting second-quarter results, it had announced that it raised its annual revenue growth guidance to a range of 15%–16%.
In the second quarter of 2026, adjusted loss per share was 7 cents, compared with an adjusted loss of 18 cents in the same period of 2025. The company said at the time that it was targeting positive EBITDAS in the fourth quarter of 2026, a measure that is not in accordance with generally accepted accounting principles. Plug Power said it believes it is on track to meet that target. The fourth-quarter target remains a later milestone in assessing the company’s progress toward improving its operating performance. The company is scheduled to host its annual Plug Symposium on November 19, 2026.
In its earlier update, the company said it received no proceeds during the third quarter from its at-the-market stock offering program and raised no additional capital through other equity or debt issuances. It also outlined a series of commercial developments in the electrolyzer sector and e-fuel projects. The company said its global electrolyzer opportunities total about $8 billion. Developments included a supply agreement for 280 megawatts of electrolyzers for the ENDOR project in Denmark, as well as a collaboration agreement making it a preferred supplier for more than 1 gigawatt of potential e-aviation fuel projects. The announcements reflect the expansion of the project pipeline the company highlighted in October.
Plug Power said it is progressing with front-end engineering design work for the 275-megawatt Courant project in Quebec, which will produce renewable ammonia and ammonium nitrate. It also announced an order for a 50-megawatt electrolyzer for the Hunter Valley Hydrogen Hub project in Australia, after the project reached a final investment decision. The company’s shares closed at $1.45 on November 6, 2026, according to EL7 data. The results call is scheduled for November 9, while the company set November 19 for its annual symposium. Those will be the next milestones investors track as they assess the company’s performance and stated guidance.