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Ballard Power Systems Inc. (BLDP) is a manufacturing and production company in the clean energy equipment manufacturers industry, based in Burnaby, Canada, with about 492 full-time employees.
It reported revenue of $99.37 million for fiscal year 2025, up 42.5% from fiscal year 2024, and net income of -$90.91 million. In Q2 2026 (the quarter ended June 30, 2026) revenue was $20.07 million, up 12.5% from a year before. Its largest business segment, Heavy Duty Motive, brought in 53% of segment revenue in fiscal year 2022; UNITED STATES was the largest region with 33%. Its market capitalization was $670.58 million as of October 9, 2026.
Figures from company filings and market data; latest fiscal year ended December 31, 2025; market data as of October 9, 2026.
Ballard Power Systems Inc. engages in the design, development, manufacture, sale, and service of proton exchange membrane (PEM) fuel cell products. The company offers products for various applications focusing on power products for bus, truck, rail, marine, stationary, and emerging market, such as material handling, off-road, and other applications.
Ballard Power Systems reported $99.37 million in revenue for fiscal year 2025, up 42.5% from $69.73 million in fiscal year 2024. In Q2 2026 revenue was $20.07 million.
Heavy Duty Motive, with $38.91 million or 53% of segment revenue in fiscal year 2022. Next: Technology Solutions (38%) and Material Handling (9%).
UNITED STATES: 33% of revenue by region in fiscal year 2022, followed by GERMANY (19%).
$670.58 million as of October 9, 2026.
Listed companies of a similar size in the same industry (clean energy equipment manufacturers) include Shoals Technologies Group, Inc. (SHLS), FuelCell Energy, Inc. (FCEL), Canadian Solar Inc. (CSIQ), Array Technologies, Inc. (ARRY).