Ballard Power Systems/$BLDP

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About Ballard Power Systems

Ballard Power Systems Inc is engaged in design, development, manufacture, sale and service of proton exchange membrane ("PEM") fuel cell products for a variety of applications, focusing on power products for bus, truck, rail, marine, stationary and emerging market (material handling, off-road and other) applications, as well as the delivery of services, including technology solutions, after sales services and training. A fuel cell is an environmentally clean electrochemical device that combines hydrogen fuel with oxygen (from the air) to produce electricity. Key geographical revenue is derived from Poland followed by United States, United Kingdom, and other countries.

Ticker

$BLDP
Primary listing

Employees

887

Headquarters

Burnaby, Canada

BLDP Metrics

BasicAdvanced
$1.1B
-
-$0.99
1.94
-

What the Analysts think about BLDP

Analyst ratings (Buy, Hold, Sell) for Ballard Power Systems stock.

Bulls say / Bears say

Q1 2025 revenue reached $15.4 million, up 6% year-over-year, primarily supported by a 41% YoY increase in bus market sales, underlining continued momentum in Ballard’s main heavy-duty mobility business (PRNewswire).
Gross margin improved by 14 percentage points to –23% in Q1 2025 after restructuring, showing clear progress from cost-saving measures (PRNewswire).
Ballard secured a multi-year agreement with Egypt’s Manufacturing Commercial Vehicles for 50 FCmove-HD+ engines (around 5 MW), with first deliveries in 2025–26, demonstrating growing international demand (PRNewswire).
Order backlog dropped 9% quarter-over-quarter to $158.0 million at the end of Q1 2025, indicating that product deliveries exceeded the pace of new orders and suggesting potential future demand weakness (PRNewswire).
Ballard consumed $24.4 million in operating cash during Q1 2025 and reported a net loss of $21.0 million, highlighting ongoing losses and persistent cash outflows despite efforts to cut costs (PRNewswire).
Non-bus segments performed poorly in Q1 2025, as stationary sales dropped 84% YoY and marine revenue declined 99% YoY, pointing to heavy reliance on the bus business and weak diversification (PRNewswire).
Data summarised monthly by Lightyear AI. Last updated on 7 Oct 2025.

BLDP Financial Performance

Revenues and expenses
QuarterlyAnnual
Q3 24
QoQ growth
Revenue
$37B
-39.75%
Net income
$45B
107.52%
Profit margin
37.65%
6.78%

BLDP Earnings Performance

Company profitability
QuarterlyAnnual
Q4 23
Q1 24
Q2 24
Q3 24
Q4 24
Actual
$3.69
$2.85
$2.45
$2.42
-
Expected
$3.55
$2.61
$2.05
$2.31
$3.94
Surprise
3.94%
9.20%
19.51%
4.63%
-
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Real-time US market data is sourced from the IEX order book provided by Polygon. After-hours US market data is 15 minutes delayed and may differ significantly from the actual tradable price at market open.

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