Ballard Power Systems Achieves Strong Q3 2025 Growth with New Product Launch

An update from Ballard Power Systems ( (TSE:BLDP) ) is now available.

Ballard Power Systems reported a significant improvement in its financial performance for Q3 2025, with a 120% year-over-year increase in revenue to $32.5 million, driven by bus and rail deliveries. The company achieved a 15% gross margin, a 71-point increase from the previous year, and made substantial progress in cost reduction, including a 40% reduction in cash operating costs. The launch of the FCmove®-SC fuel cell engine was well received, and Ballard ended the quarter with $525.7 million in cash and no debt, positioning it well for future growth in the hydrogen fuel cell market.

The most recent analyst rating on (TSE:BLDP) stock is a Hold with a C$5.00 price target. To see the full list of analyst forecasts on Ballard Power Systems stock, see the TSE:BLDP Stock Forecast page.

Spark’s Take on TSE:BLDP Stock

According to Spark, TipRanks’ AI Analyst, TSE:BLDP is a Neutral.

Ballard Power Systems’ overall stock score is primarily impacted by its weak financial performance, characterized by persistent losses and negative cash flows. While technical indicators show some positive momentum, and the earnings call provided mixed signals with both improvements and challenges, the negative valuation metrics further weigh down the score.

To see Spark’s full report on TSE:BLDP stock, click here.

More about Ballard Power Systems

Ballard Power Systems is a company operating in the fuel cell industry, focusing on the development and manufacturing of hydrogen fuel cells primarily for heavy-duty mobility applications such as buses and trains. The company is committed to advancing its leadership in the sector, particularly in decarbonizing heavy-duty mobility and stationary power.

Average Trading Volume: 1,034,554

Technical Sentiment Signal: Hold

Current Market Cap: C$1.44B

For an in-depth examination of BLDP stock, go to TipRanks’ Overview page.