ITM upgrades revenue forecast

Sheffield-based electrolyser manufacture ITM Power upgraded its revenue forecast by 30% today after fulfilling additional contract obligations.

Revenue for FY25 is now expected to be between £25.5m and £26.5m, however the adjusted EBITDA loss guidance of £32m to £36m remains unchanged.

In addition, ITM has been net cash generative in the second half of FY25, and the company expects cash at the end of the financial year to be between £204m and £205m.

Dennis Schulz, CEO, 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.”