Financial Performance3Q25 results showed a mixed performance with revenue slightly below consensus estimates and a GAAP net loss that was larger than expected.
Hydrogen Supply IssuesHydrogen availability remains an issue at the industrial scale, and broad use for peak shaving is viewed as a long-term goal beyond current capacity.
Market ChallengesRisks include dilution, execution, regulatory, competition, market adoption, and global macroeconomic and geopolitical uncertainties.