Plug Power Reports 2.4% Q4 Margin, $275M Liquidity Plan and 2026 Profitability Target
Plug Power reported a 2.4% gross margin in Q4 2025, executed a $275M asset monetization liquidity plan and aims for positive EBITDA by 2026 and full profitability by 2028. The company will meet institutional investors April 7-8 in Toronto and Montreal at an RBC roadshow to discuss the profitability roadmap.
1. Q4 Results and Profitability Path
Plug Power reported a 2.4% gross margin in Q4 2025, its first positive margin in recent quarters, and has deployed over 72,000 fuel cell systems globally. The company secured more than $275M through asset monetization to strengthen its cash position and already has 80% of its 2026 revenue visible. New leadership is targeting positive EBITDA by 2026 and full profitability by 2028 as part of its turnaround strategy.
2. Upcoming Roadshow Engagement
Plug Power will participate in an RBC-hosted non-deal roadshow on April 7 in Toronto and April 8 in Montreal. CFO Paul Middleton and VP Investor Relations Roberto Friedlander will lead meetings with institutional investors to outline the company’s business strategy, operational execution and path to profitability. The roadshow aims to deepen investor understanding of Plug Power’s financial outlook and growth initiatives.