ITM Power shares bounced on Thursday after it upgraded its guidance for the year, narrowing expected losses as the firm moves toward EBITDA profitability.
The hydrogen technology company said it now expects an adjusted EBITDA loss of between £20m and £21m for its 2026 financial year, a 27% improvement on its previous guidance and 38% better than the year before.
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Its revenue and cash guidance were unchanged.
ITM, which makes electrolysers used to produce green hydrogen, has been working to cut costs to achieve profitability.
The firm has won a number of contracts this year that are due to come online in the foreseeable future, adding to the group’s top line.
ITM Power shares were 5% higher in early trade on Thursday.