Ballard Power ( (BLDP) ) has released its Q3 earnings. Here is a breakdown of the information Ballard Power presented to its investors.
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Ballard Power Systems Inc. is a leading company in the clean energy sector, specializing in the development and production of zero-emission PEM fuel cells for various applications, including heavy-duty mobility and stationary power.
In its third-quarter 2025 earnings report, Ballard Power Systems announced a significant increase in revenue and gross margin, alongside notable cost reductions and the successful launch of a new fuel cell engine, the FCmove®-SC.
The company reported a 120% year-over-year increase in revenue, reaching $32.5 million, primarily driven by bus and rail deliveries. Gross margin improved to 15%, a 71-point increase from the previous year, attributed to reduced manufacturing costs and restructuring efforts. Ballard also achieved a 40% reduction in cash operating costs and a 36% decrease in total operating expenses. The launch of the FCmove®-SC, a ninth-generation fuel cell engine, received positive feedback for its cost efficiency and improved power density.
Despite a decrease in order backlog and cash reserves, Ballard remains optimistic about its future prospects. The company is focusing on enhancing its order pipeline and expects continued improvements in gross margins and revenue streams, particularly from aftersales services.
Looking ahead, Ballard Power Systems is committed to maintaining its leadership in the hydrogen fuel cell market, with a strong cash position and no immediate financing needs. The company aims to capitalize on the growing demand for clean energy solutions in heavy-duty mobility and stationary power sectors.