Ballard Power Systems Inc
TSX:BLDP

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Ballard Power Systems Inc Logo
Ballard Power Systems Inc
TSX:BLDP
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Price: 4 CAD 0.25%
Market Cap: 1.2B CAD

Ballard Power Systems Inc
Investor Relations

Ballard Power Systems, Inc. engages in the design, development, manufacture, sale, and service of fuel cell products for a variety of applications. The company is headquartered in Burnaby, British Columbia and currently employs 1,367 full-time employees. The firm is focused on the power product markets of Heavy-Duty Motive (consisting of bus, truck, rail and marine applications), Material Handling and Backup Power, as well as the delivery of Technology Solutions, including engineering services, technology transfer, and the license and sale of the Company’s intellectual property portfolio and fundamental knowledge for a variety of PEM fuel cell applications. The Company’s fuel cell is an environmentally clean electrochemical device that combines hydrogen fuel with oxygen (from the air) to produce electricity.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 13, 2025
AI Summary
Q3 2025

Revenue Growth: Revenue jumped 120% year-over-year to $32.5 million, mainly driven by deliveries to the bus and rail segments.

Gross Margin Improvement: Gross margin turned positive at 15%, up from negative 56% a year ago, helped by lower product costs and a reduction in onerous contracts.

Cost Controls: Operating expenses dropped 36% year-over-year, and cash operating costs fell 40% due to recent restructuring.

Order Momentum: Net order intake was about $19 million, with the largest-ever marine order booked at 6.4 megawatts.

Strategic Changes: Ballard decided not to pursue the Texas gigafactory, citing sufficient current manufacturing capacity and a commitment to capital discipline.

Outlook: Management expects further gross margin improvement and continued focus on cost discipline, but did not provide specific revenue or margin guidance.

Key Financials
Revenue
$32.5 million
Gross Margin
15%
Net Order Intake
$19 million
Total Operating Expenses
$34.9 million
Adjusted EBITDA
-$31.2 million
Cash Used by Operating Activities
$22.9 million
Cash and Cash Equivalents
$525.7 million
Earnings Call Recording
Other Earnings Calls

Management

Mr. R. Randall MacEwen BA, LLB
CEO, President & Non-Independent Director
No Bio Available
Mr. Mark Biznek
Senior VP & COO
No Bio Available
Mr. David Mucciacciaro
Senior VP & Chief Commercial Officer
No Bio Available
Dr. Mircea Gradu Ph.D.
Senior VP & Chief Engineering Officer
No Bio Available
Ms. Kate Igbalode
Senior VP & CFO
No Bio Available
Kate Charlton
VP Corporate Finance & Investor Relations
No Bio Available
Dr. Kevin Colbow
Senior VP & CTO
No Bio Available
Mr. Kerry Brent Hillier
General Counsel & Corporate Secretary
No Bio Available
Mr. Nicolas Pocard
Vice President of Marketing & Strategic Partnerships
No Bio Available
Ms. Sarbjot Sidhu
Senior VP and Chief People & Culture Officer
No Bio Available

Contacts

Address
BRITISH COLUMBIA
Burnaby
9000 Glenlyon Parkway
Contacts
+16044540900.0
www.ballard.com