ITM Power Reports FY Results with Improved Losses and Revenue Growth
ITM Power Plc reported its full-year results, showing a revenue increase of £43.65 million for the year, representing a significant 67.6% growth compared to the previous year. Despite this improvement in top-line performance, the company still recorded a net loss of £25.0 million, down from £45.5 million last year. The operating loss also improved slightly at £31.0 million versus £54.5 million previously, and adjusted EBITDA remained negative but less severe than in 2022 with a loss of £20.2 million compared to £33.0 million. Looking ahead, ITM Power provided guidance for FY 2027, forecasting revenue between £50 million and £60 million—indicating potential growth—and an adjusted EBITDA loss in the range of £17 million to £20 million. The company ended the year with cash reserves estimated at £170–£180 million. This includes planned capital expenditures for its Chronos manufacturing line, signaling continued investment and expansion efforts.
Tickers: $ITM