Plug Power Just Cut Its Losses in Half. Is It Time to Buy the Hydrogen Stock?

Plug Power has made significant progress on its turnaround, cutting adjusted net losses by more than half in Q2 to $0.07 per share, with revenue rising 9% to $178 million and operating expenses dropping 50% year-over-year. The company achieved breakeven gross margin and raised full-year revenue guidance to 15%-16%. However, the analyst remains cautious due to ongoing liquidity concerns, with the company still burning $61 million in cash per quarter and not expected to reach overall profitability until end of 2028.