Green hydrogen equipment maker ITM Power has raised its full-year revenue forecast, citing the recognition of revenues tied to completed contractual obligations. The revised outlook now sits between £25.5 million and £26.5 million, up from the previously stated range of £18 million to £22 million.
The Sheffield-based firm, which produces electrolysers used to generate hydrogen from renewable electricity, has also upgraded its cash position guidance. It now expects year-end net cash of £204 million to £205 million. This follows a stronger-than-expected second half, outpacing earlier forecasts issued in both August 2024 (£160 million–£175 million) and January 2025 (£185 million–£195 million).
Despite the improved top-line and cash performance, ITM Power still anticipates an adjusted EBITDA loss of between £32 million and £36 million for the financial year.
Shares in the AIM-listed company surged by more than 20% in early trading before settling around 9% higher by mid-morning. However, the stock remains down 38% over the past year.
