ITM Power Shares Surge After FY25 Guidance Raise

ITM Power (LON: ITM) shares soared more than 17% to 34p on Tuesday morning after the company raised its full-year 2025 revenue guidance and confirmed it will be cash-generative in the second half.

The hydrogen energy firm now expects FY25 revenue to come in between £25.5 million and £26.5 million — a 30% increase from the midpoint of its previous guidance range of £18 million to £22 million. 

The company explained the increase is due to the fulfilment of additional contractual obligations, allowing for more revenue to be recognised within the financial year.

In a further boost, ITM said it has been net cash generative in the second half of FY25. 

As a result, it now expects to end the year with cash reserves of between £204 million and £205 million, slightly ahead of its half-year position of £203 million and well above its original August 2024 guidance of £160 million to £175 million.

Adjusted EBITDA loss guidance remains unchanged at £32 million to £36 million.

Chief Executive Dennis Schulz said: “ITM is continuing to achieve a strong revenue performance while tightly managing costs and capital expenditures. 

“Our strong balance sheet is an important differentiator in the competitive landscape, and our contract backlog and sales pipeline have continued to grow. We remain well-positioned as customer FIDs accelerate through FY26.”