ITM Power has raised its revenue guidance for the 2025 financial year by 30%, taking its range to between £25.5m and £26.5m.

The Sheffield-based manufacturer of clean hydrogen process machinery said that the increase is due to additional contractual obligations being fulfilled and associated revenue being "now recognised".

Furthermore, the AIM-listed firm said it had been net cash generative in the second half of the current financial year, and now expects its cash balance at the end of the financial year to be between £204m and £205m. This is up from its half-year balance of £203m.

The original cash guidance, issued in August was between £160m and £175m, and was increased to between £185m and £195m in January.

Its adjusted EBITDA loss guidance remains unchanged between £32m and £36m.

Following the announcement, shares in ITM Power jumped by almost 20% in early trading, before falling to an 8.3% increase on its opening price to 31.2 pence.

Chief executive officer at ITM Power, 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."

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