Plug Power's stock surged 9.39% in pre-market trading on Tuesday, following the release of its fourth-quarter and full-year 2025 financial results that exceeded analyst expectations.

The hydrogen fuel cell technology company reported an adjusted loss per share of $0.06 for the quarter, beating the consensus estimate for a loss of $0.10. Quarterly revenue reached $225.2 million, also surpassing expectations of approximately $217 million. For the full year 2025, the company reported revenue of $709 million, representing a 12.8% increase from the previous year, and achieved a positive gross margin in the fourth quarter.

Investors also reacted positively to the company's announcement that Jose Luis Crespo will assume the role of Chief Executive Officer, effective immediately. The company reiterated its financial targets, including the goal for positive EBITDAS by the fourth quarter of 2026.