Two very different names are leading premarket action Tuesday. Plug Power (NASDAQ:PLUG) is up 13.7% after a Q2 earnings beat and a guidance raise, while Everpure (NYSE:P), the storage company formerly known as Pure Storage, is up 7.5% after landing a major hyperscaler deal.
Plug Power: Guidance Raise Ignites a Turnaround Narrative
Plug Power reported Q2 FY26 results after the close on August 10, 2026, and the numbers hit on the metrics the market has been watching. Revenue landed at $178.30 million versus the $169.12 million estimate, a 5.43% beat, with adjusted EPS of -$0.07 against a -$0.08 consensus.
The more important story sits in the margin line. Gross loss narrowed to $1.68 million from $53.47 million a year earlier, a 96.87% improvement. Service revenue jumped 82% year over year to roughly $30 million at a 27% positive service margin, a first for a business that has burned cash for years. GenDrive fuel cell deployments climbed 125% to 1,666 units, operating expenses fell roughly 50%, and net cash usage improved to about $61 million, down roughly 58% sequentially.
Management then did the thing that gets a $2 stock moving: it raised the bar. Full-year 2026 revenue growth guidance was lifted to a range of 15% to 16%, and Plug reiterated its target of positive EBITDAS in Q4 2026. Post-quarter asset monetization is expected to generate $80 million in near-term liquidity, with a target of $275 million aggregate from data center asset monetization.
CEO Jose Luis Crespo framed the setup this way: “Given the historically second-half-weighted cadence of our business and the strength of our commercial backlog, we are raising our full-year 2026 revenue growth guidance to a range of 15% to 16%. We believe we are on track to achieve our positive EBITDAS target in the fourth quarter of 2026.”
The move comes off a weak base. Plug closed at $2.11 on August 10, down 5.38% over the past month and off 92.3% over five years. Even after Tuesday’s indicated pop, this is a rebound in a deep drawdown, not a return to prior highs.
Everpure: Momentum Without a Confirmed Fresh Catalyst
Everpure, the storage company formerly known as Pure Storage, announced a design win and supply agreement with a second top-five hyperscaler. The stock’s recent trading, has been on fire. Shares closed at $97.98 on August 10, up 22.26% over the past week, 23.51% over the past month, and 67.26% over the past year. Monday alone added 8.81%.
Here’s from the company’s press release:
“Everpure (NYSE: P), the company revolutionizing storage and data management, today announced a design win and supply agreement with a second top-five hyperscaler. This milestone builds on Everpure’s landmark hyperscaler design win announced in late 2024, further reinforcing the company’s technological leadership and software-driven advantage.
Everpure continues its expansion into the large, newly addressable hyperscale market, using its advanced software-powered DirectFlash® technology to optimize hyperscale storage. Proven at the highest levels of scale, DirectFlash® enables hyperscalers to deploy a consistent and unified architecture across multiple performance tiers of their storage hierarchy. By delivering unmatched density, performance, and reliability, Everpure empowers hyperscalers to drastically lower operational costs while reclaiming vital power and rack space for AI and next-generation workloads.
“Our growing success in hyperscale environments is based upon a foundationally more advanced architecture and technology than legacy storage solutions,” said Charles Giancarlo, Chairman and CEO of Everpure. “Securing a design win with a second hyperscaler for our hyperscale solution signals strong recognition of the economic, operational and performance advantages of our DirectFlash® technology. DirectFlash® sets a new benchmark for efficiency, density, and performance for data storage at scale.”
The fundamental backdrop is supportive. The last reported quarter, Q1 FY27, delivered revenue of $1.05 billion against a $1.00 billion estimate, non-GAAP EPS of $0.47 versus $0.3954 expected, and extended the beat streak to five consecutive quarters. FY27 revenue guidance sits at $4.41 billion to $4.51 billion.
What to Watch
For Plug, the near-term test is execution on the $80 million liquidity monetization and whether Q3 keeps margin improvement intact ahead of the promised Q4 EBITDAS inflection. For Everpure, the next Q2 FY27 earnings release, historically late August, is the catalyst that will confirm or deflate this run.
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