Plug Power Inc. has announced its financial results for the first quarter ending March 31, 2025. The company reported revenue of $133.7 million, an increase from $120.3 million in the same quarter of the previous year. This growth in revenue is attributed to increased electrolyzer deliveries, sustained demand in material handling, and ongoing deployments in the cryogenic platform. The gross margin loss improved to -55% in Q1 2025 compared to a gross margin loss of -132% in Q1 2024. This improvement is due to the optimization of internal supply chains, cost reductions, price increases, and enhancements in leveraging the company's hydrogen platform. In terms of cash flow, the net cash used in operating and investing activities decreased significantly to $152.1 million in Q1 2025 from $288.3 million in Q1 2024. The company ended the quarter with $295.8 million in unrestricted cash. The launch of Project Quantum Leap, which targets over $200 million in annualized savings, is expected to contribute to further improvements in cash utilization. Operationally, Plug Power has commissioned its Louisiana hydrogen plant and aims to enhance its margin performance and reduce third-party fuel costs. The company also plans to continue promoting its GenEco electrolyzer platform globally, a key growth driver. These efforts are part of Plug Power's strategy to maintain disciplined execution and profitable growth within the global hydrogen economy.