Ballard Power Systems Inc. (BLDP) — Financial statements
Income statement, balance sheet, and cash flow for Ballard Power Systems Inc. — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 101↑45.0% | 70↓31.9% | 102↑22.2% | 84↓19.8% | 105 | |
| Cost of Revenue | 99↑7.6% | 92↓26.2% | 124↑28.2% | 97↑7.1% | 90 | |
| Gross Profit | 2↑110.9% | -22↓0.7% | -22↓66.9% | -13↓193.3% | 14 | |
| Operating Expenses | ||||||
| R&D Expenses | 57↓39.2% | 94↓3.9% | 98↑2.5% | 96↑54.4% | 62 | |
| General & Administrative Expenses | 18↓21.6% | 24↓1.5% | 24↓17.5% | 29↑15.9% | 25 | |
| Selling & Marketing Expenses | 8↓40.4% | 14↓10.6% | 15↑17.6% | 13↓0.4% | 13 | |
| SG&A Expenses | 26↓28.4% | 37↓5.0% | 39↓6.7% | 42↑10.3% | 38 | |
| Other Expenses | -0.06↓100.2% | 30↑687.9% | 4↓53.0% | 8↑314.1% | 2 | |
| Operating Expenses | 84↓48.0% | 161↑14.4% | 141↓3.2% | 146↑43.0% | 102 | |
| Total Costs & Expenses | 183↓27.8% | 253↓4.6% | 265↑81.9% | 146↓24.3% | 192 | |
| Operating Results | ||||||
| Operating Income | -82↑55.5% | -183↓12.5% | -163↓2.5% | -159↓80.6% | -88 | |
| Depreciation & Amortization | 4↓65.5% | 12↓11.5% | 14↑20.9% | 11↑15.8% | 10 | |
| EBITDA | -77↑75.0% | -309↓153.0% | -122↑15.7% | -145↓67.4% | -87 | |
| EBIT | -82↑74.6% | -321↓137.5% | -135↑14.9% | -159↓64.9% | -96 | |
| Interest & Other Income | ||||||
| Net Interest Income | 23↑1172.9% | -2↓76.8% | -1↓106.9% | 18↑625.6% | 2 | |
| Interest Income | 25 | 0.00 | 0.00↓100.0% | 19↑407.5% | 4 | |
| Interest Expense | 2↓9.7% | 2↑76.8% | 1↓0.1% | 1↓5.3% | 1 | |
| Non-Operating Income | 0.00↓100.0% | 138↑598.9% | -28↓304.1% | 14↑64.8% | 8 | |
| Other Income / Expenses | -11↑92.2% | -140↓843.2% | 19↑225.7% | -15↑43.4% | -27 | |
| Income Before Tax | -92↑71.4% | -323↓124.5% | -144↑18.6% | -177↓54.5% | -115 | |
| Income Tax Expense | 0.05↓57.1% | 0.12↓23.4% | 0.16↑104.5% | -4↓1537.0% | -0.22 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | -93↑71.4% | -324↓124.3% | -144↑10.1% | -160↓40.2% | -114 | |
| Net Income from Discontinued Operations | 0.00↑100.0% | -0.72↑97.9% | -34↓155.3% | -13↓8101.8% | 0.16 | |
| Net Income | -92↑71.5% | -324↓82.5% | -178↓2.4% | -173↓51.7% | -114 | |
| Bottom-Line Net Income | -92↑71.5% | -324↓79.2% | -181↓4.3% | -173↓51.9% | -114 | |
| EPS (Basic) | -0.31↑71.3% | -1.08↓77.0% | -0.61↓5.2% | -0.58↓48.7% | -0.39 | |
| EPS (Diluted) | -0.30↑72.2% | -1.08↓77.0% | -0.61↓5.2% | -0.58↓48.7% | -0.39 | |
| Weighted Average Shares | 303↑1.2% | 299↑0.2% | 299↑0.2% | 298↑0.9% | 295 | |
| Weighted Average Diluted Shares | 303↑1.2% | 299↑0.2% | 299↑0.2% | 298↑0.9% | 295 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.