BLDP
Ballard Power Systems Inc
NASDAQ: BLDP · INDUSTRIALS · ELECTRICAL EQUIPMENT & PARTS
$3.40
+2.41% today
Updated 2026-04-30
Market cap
$987.00M
P/E ratio
—
P/S ratio
9.93x
EPS (TTM)
$-0.30
Dividend yield
—
52W range
$1 – $4
Volume
3.7M
Ballard Power Systems Inc (BLDP) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $49.82M | $65.53M | $59.58M | $46.72M | $65.02M | $76.01M | $43.69M | $61.25M | $68.72M | $56.46M | $85.27M | $121.29M | $96.59M | $105.72M | $103.88M | $104.50M | $83.80M | $102.37M | $69.73M | $101.14M |
| Revenue growth (YoY) | — | +31.5% | -9.1% | -21.6% | +39.2% | +16.9% | -42.5% | +40.2% | +12.2% | -17.8% | +51.0% | +42.2% | -20.4% | +9.5% | -1.7% | +0.6% | -19.8% | +22.2% | -31.9% | +45.0% |
| Cost of revenue | $21.21M | $25.05M | $47.40M | $40.80M | $54.81M | $62.12M | $36.32M | $44.49M | $58.48M | $46.49M | $61.09M | $79.69M | $66.91M | $83.39M | $82.89M | $90.49M | $96.88M | $124.20M | $91.71M | $98.71M |
| Gross profit | $28.62M | $40.48M | $12.18M | $5.93M | $10.21M | $13.88M | $7.37M | $16.76M | $10.25M | $9.97M | $24.18M | $41.60M | $29.67M | $22.34M | $20.98M | $14.01M | $-13.08M | $-21.83M | $-21.98M | $2.40M |
| Gross margin | 57.4% | 61.8% | 20.4% | 12.7% | 15.7% | 18.3% | 16.9% | 27.4% | 14.9% | 17.7% | 28.4% | 34.3% | 30.7% | 21.1% | 20.2% | 13.4% | -15.6% | -21.3% | -31.5% | 2.4% |
| R&D | $52.27M | $58.48M | $37.17M | $26.63M | $23.81M | $25.48M | $19.27M | $17.12M | $14.29M | $16.21M | $19.83M | $25.02M | $27.04M | $25.26M | $35.52M | $62.16M | $95.95M | $98.31M | $94.49M | $57.47M |
| SG&A | $20.49M | $28.05M | $20.08M | $10.80M | $13.31M | $12.50M | $12.34M | $11.70M | $10.41M | $10.99M | $13.30M | $12.95M | $15.10M | $12.87M | $16.23M | $24.98M | $28.94M | $23.87M | $23.52M | $18.45M |
| Operating income | $-60.54M | $-61.78M | $-51.10M | $-52.04M | $-42.76M | $-33.58M | $-31.11M | $-19.43M | $-28.05M | $-24.88M | $-18.07M | $-4.88M | $-20.80M | $-25.45M | $-39.76M | $-87.97M | $-158.90M | $-162.90M | $-183.30M | $-81.51M |
| Operating margin | -121.5% | -94.3% | -85.8% | -111.4% | -65.8% | -44.2% | -71.2% | -31.7% | -40.8% | -44.1% | -21.2% | -4.0% | -21.5% | -24.1% | -38.3% | -84.2% | -189.6% | -159.1% | -262.9% | -80.6% |
| EBITDA | $-37.41M | $-43.70M | $-43.02M | $6.79M | $-26.80M | $-32.48M | $-36.18M | $-13.60M | $-22.54M | $-1.10M | $-15.88M | $-705494.00 | $-20.34M | $-26.00M | $-40.20M | $-86.66M | $-145.10M | $-122.27M | $-309.29M | $-77.38M |
| EBITDA margin | -75.1% | -66.7% | -72.2% | 14.5% | -41.2% | -42.7% | -82.8% | -22.2% | -32.8% | -1.9% | -18.6% | -0.6% | -21.1% | -24.6% | -38.7% | -82.9% | -173.2% | -119.4% | -443.5% | -76.5% |
| EBIT | $-60.54M | $-61.78M | $-51.04M | $-2.71M | $-35.37M | $-38.38M | $-42.37M | $-19.33M | $-28.15M | $-5.47M | $-20.37M | $-5.95M | $-25.10M | $-33.51M | $-47.76M | $-96.32M | $-156.29M | $-135.79M | $-321.26M | $-81.51M |
| Interest expense | $0.00 | $0.00 | $0.00 | $0.00 | $974000.00 | $1.39M | $1.69M | $1.49M | $942000.00 | $794000.00 | $686000.00 | $732000.00 | $503000.00 | $1.47M | $1.37M | $1.28M | $1.21M | $1.21M | $2.15M | $1.94M |
| Income tax | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Effective tax rate | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Net income | $-181.14M | $-57.30M | $34.08M | $-3.26M | $-34.94M | $-33.42M | $-42.13M | $-19.96M | $-27.87M | $-5.82M | $-21.69M | $-8.05M | $-27.32M | $-39.05M | $-51.38M | $-114.40M | $-173.49M | $-177.72M | $-324.25M | $-92.49M |
| Net income growth (YoY) | — | +68.4% | +159.5% | -109.6% | -972.3% | +4.3% | -26.1% | +52.6% | -39.6% | +79.1% | -272.9% | +62.9% | -239.5% | -42.9% | -31.6% | -122.7% | -51.7% | -2.4% | -82.5% | +71.5% |
| Profit margin | -363.6% | -87.4% | 57.2% | -7.0% | -53.7% | -44.0% | -96.4% | -32.6% | -40.6% | -10.3% | -25.4% | -6.6% | -28.3% | -36.9% | -49.5% | -109.5% | -207.0% | -173.6% | -465.0% | -91.4% |