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ITM Power ( (GB:ITM) ) just unveiled an announcement.
ITM Power reported another period of operational and financial progress for the six months to 31 October 2025, with revenue rising to £18m from £15.5m, a reduced adjusted EBITDA loss of £11.9m, and a still-strong cash balance of £197.8m. The company’s contracted backlog has grown sharply to £152m and is now predominantly made up of profitable contracts, reflecting improved project economics as legacy work is phased out. Commercial momentum was underpinned by multiple new equipment and engineering contracts, major capacity reservations from utilities such as RWE, and selection for large-scale projects in Europe and Asia-Pacific, while the post-period launch of the ALPHA 50 50MW full-scope plant and continued demand for the NEPTUNE V platform are deepening its pipeline. ITM is also pushing into recurring, asset-backed revenue through Hydropulse, a new build-own-operate business focused on decentralised green hydrogen production for industrial customers and positioned to tap government funding schemes in the UK and Germany. Operationally, the group is automating manufacturing with a new autostacker line, progressing its next-generation CHRONOS stack platform, and transitioning parts of its portfolio to percentage-of-completion revenue recognition, steps that together aim to enhance margins, improve revenue visibility, and strengthen its competitive position as green hydrogen investment and policy support continue to expand globally.
The most recent analyst rating on (GB:ITM) stock is a Hold with a £64.00 price target. To see the full list of analyst forecasts on ITM Power stock, see the GB:ITM Stock Forecast page.
Spark’s Take on GB:ITM Stock
According to Spark, TipRanks’ AI Analyst, GB:ITM is a Neutral.
ITM Power’s overall stock score is primarily influenced by its financial performance challenges, including negative profitability and cash flow issues. While the earnings call provided positive insights into future growth and strategic initiatives, the current technical indicators and valuation metrics reflect a cautious outlook. The company’s strong revenue growth and contract backlog are positive, but operational inefficiencies and market challenges remain significant concerns.
To see Spark’s full report on GB:ITM stock, click here.
More about ITM Power
ITM Power, founded in 2000 and listed on London’s AIM market since 2004, is a Sheffield-based specialist in proton exchange membrane (PEM) electrolysers that produce green hydrogen using renewable electricity and water, targeting industrial-scale decarbonisation and the emerging clean hydrogen economy.
Average Trading Volume: 2,160,386
Technical Sentiment Signal: Hold
Current Market Cap: £422.3M
See more data about ITM stock on TipRanks’ Stock Analysis page.