Ballard Power Systems Inc. (BLDP) quarterly income statement — complete revenue, gross profit & net income history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Sales/Revenue | 19.42M | 33.64M | 32.5M | 17.84M | 15.39M | 24.52M | 14.76M | 16M | 14.45M | 47.42M | 27.06M | 15.31M | 13.24M | 20.46M | 21.34M | 20.93M | 21.05M | 36.7M | 25.22M | 24.96M |
| Revenue Growth % | 26.2% | 37.19% | 120.26% | 11.49% | 6.48% | -48.29% | -45.47% | 4.5% | 9.13% | 131.7% | 26.79% | -26.84% | -37.08% | -44.25% | -15.37% | -16.14% | 19.46% | 28.39% | -1.58% | -3.19% |
| Cost of Goods Sold | 16.66M | 28.04M | 27.54M | 19.34M | 19M | 27.75M | 22.97M | 21.13M | 19.87M | 60.08M | 29.92M | 18.5M | 18.86M | 26.38M | 26.11M | 23.14M | 21.25M | 31.93M | 22.39M | 21.18M |
| COGS % of Revenue | 85.77% | 83.34% | 84.73% | 108.38% | 123.45% | 113.16% | 155.68% | 132.02% | 137.47% | 126.71% | 110.58% | 120.78% | 142.44% | 128.92% | 122.33% | 110.52% | 100.99% | 87% | 88.77% | 84.83% |
| Gross Profit | 2.76M | 5.6M | 4.96M | -1.5M | -3.61M | -3.23M | -8.22M | -5.12M | -5.42M | -12.67M | -2.86M | -3.18M | -5.62M | -5.92M | -4.76M | -2.2M | -208K | 4.77M | 2.83M | 3.79M |
| Gross Margin % | 14.23% | 16.66% | 15.27% | -8.38% | -23.45% | -13.16% | -55.68% | -32.02% | -37.47% | -26.71% | -10.58% | -20.78% | -42.44% | -28.92% | -22.33% | -10.52% | -0.99% | 13% | 11.23% | 15.17% |
| Gross Profit Growth % | 176.58% | 273.63% | 160.39% | 70.82% | 33.37% | 74.52% | -187.07% | -61.03% | 3.65% | -113.98% | 39.94% | -44.44% | -2601.92% | -224.06% | -268.2% | -158.19% | -107.93% | -15.39% | -40.97% | -31.3% |
| Operating Expenses | 15.83M | 17.41M | 34.9M | 31.7M | 25.45M | 33.16M | 54.87M | 36.23M | 37.06M | 28.53M | 34.69M | 35.58M | 35.83M | 37.04M | 39.99M | 38.46M | 30.31M | 32.31M | 27.44M | 24.4M |
| OpEx % of Revenue | 81.51% | 51.76% | 107.38% | 177.7% | 165.39% | 135.25% | 371.83% | 226.38% | 256.44% | 60.17% | 128.21% | 232.31% | 270.57% | 180.99% | 187.39% | 183.74% | 144.02% | 88.02% | 108.81% | 97.75% |
| Selling, General & Admin | 6.47M | 6.47M | 5.72M | 7.19M | 7.12M | 9.34M | 7.12M | 10.51M | 10.05M | 7.35M | 10.54M | 10.01M | 9.68M | 8.94M | 12.21M | 11.39M | 9.06M | 10.84M | 10.34M | 9.56M |
| SG&A % of Revenue | 33.32% | 19.24% | 17.59% | 40.28% | 46.27% | 38.09% | 48.22% | 65.68% | 69.55% | 15.5% | 38.95% | 65.36% | 73.07% | 43.7% | 57.22% | 54.41% | 43.05% | 29.53% | 40.99% | 38.28% |
| Research & Development | 9.36M | 10.94M | 11.52M | 18.18M | 18.11M | 19.91M | 23.74M | 25.54M | 25.31M | 19.36M | 23.87M | 25.31M | 24.68M | 22.94M | 25.26M | 26.63M | 21.11M | 19.87M | 16.57M | 14.76M |
| R&D % of Revenue | 48.19% | 32.52% | 35.45% | 101.87% | 117.65% | 81.19% | 160.9% | 159.56% | 175.12% | 40.83% | 88.2% | 165.25% | 186.32% | 112.12% | 118.37% | 127.24% | 100.31% | 54.13% | 65.69% | 59.14% |
| Other Operating Expenses | 0 | 0 | 1000K | 1000K | 227K | 1000K | 1000K | 182K | 1000K | 1000K | 288K | 260K | 1000K | 1000K | 1000K | 439K | 138K | 1000K | 538K | 82K |
| Operating Income | -13.07M | -11.81M | -29.94M | -33.2M | -29.06M | -36.39M | -63.08M | -41.35M | -42.48M | -41.2M | -37.55M | -38.76M | -41.45M | -42.96M | -44.76M | -40.66M | -30.52M | -27.54M | -24.61M | -20.61M |
| Operating Margin % | -67.29% | -35.1% | -92.11% | -186.08% | -188.84% | -148.41% | -427.51% | -258.4% | -293.9% | -86.89% | -138.78% | -253.09% | -313.01% | -209.91% | -209.72% | -194.27% | -145% | -75.02% | -97.58% | -82.58% |
| Operating Income Growth % | 55.03% | 67.55% | 52.55% | 19.71% | 31.58% | 11.67% | -67.97% | -6.69% | -2.47% | 4.09% | 16.1% | 4.69% | -35.82% | -55.99% | -81.88% | -97.27% | -98.9% | -97.84% | -217.45% | -158.54% |
| EBITDA | -12.08M | -10.66M | -28.9M | -32.24M | -28.07M | -35.29M | -59.55M | -38.01M | -38.99M | -37.93M | -34.34M | -36.23M | -38.18M | -40.13M | -40.78M | -37.22M | -27.41M | -26.98M | -22.44M | -18.17M |
| EBITDA Margin % | -62.21% | -31.7% | -88.92% | -180.67% | -182.44% | -143.93% | -403.55% | -237.51% | -269.78% | -79.99% | -126.89% | -236.59% | -288.3% | -196.09% | -191.07% | -177.83% | -130.23% | -73.5% | -88.98% | -72.79% |
| EBITDA Growth % | 56.97% | 69.78% | 51.47% | 15.19% | 27.99% | 6.95% | -73.43% | -4.9% | -2.12% | 5.48% | 15.8% | 2.66% | -39.29% | -48.73% | -81.72% | -104.87% | -103.41% | -122.04% | -332.24% | -185.54% |
| D&A (Non-Cash Add-back) | 987K | 1.14M | 1.03M | 964K | 985K | 1.1M | 3.54M | 3.34M | 3.49M | 3.27M | 3.22M | 2.53M | 3.27M | 2.83M | 3.98M | 3.44M | 3.11M | 557K | 2.17M | 2.44M |
| EBIT | -10.95M | -17.05M | -27.62M | -23.76M | -20.52M | -45.91M | -203.94M | -41.2M | -42.45M | -40.43M | -34.41M | -38.58M | -39.99M | -37.11M | -42.95M | -55.36M | -40.14M | -25.98M | -24.2M | -21.55M |
| Net Interest Income | -441K | -451K | -453K | -498K | -516K | -539K | -588K | -598K | -432K | 10.72M | 10.59M | -322K | 10.2M | -322K | -352K | -340K | -454K | 500K | -474K | -362K |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 2.71K | 0 | 0 | 11M | 10.88M | 0 | 10.49M | 0 | 0 | 0 | 0 | 500K | 0 | 0 |
| Interest Expense | 441K | 451K | 453K | 498K | 516K | 539K | 590.71K | 598K | 432K | 275.41K | 286.32K | 322K | 283.02K | 322K | 352K | 340K | 454K | 0 | 474K | 362K |
| Other Income/Expense | 1.68M | -5.69M | 1.87M | 8.94M | 8.02M | -10.06M | -141.97M | 9.96M | 1.44M | 27.47M | 2.85M | 10.64M | 9.06M | 5.53M | 1.46M | -15.04M | -10.08M | -16.53M | -6.23M | -1.3M |
| Pretax Income | -11.39M | -17.5M | -28.07M | -24.26M | -21.04M | -46.45M | -205.06M | -31.39M | -41.03M | -13.73M | -34.7M | -28.11M | -32.39M | -37.43M | -43.3M | -55.7M | -40.59M | -44.07M | -30.84M | -21.91M |
| Pretax Margin % | -58.66% | -52.02% | -86.37% | -135.95% | -136.7% | -189.45% | -1389.65% | -196.18% | -283.91% | -28.95% | -128.24% | -183.59% | -244.57% | -182.91% | -202.88% | -266.11% | -192.88% | -120.07% | -122.29% | -87.78% |
| Income Tax | 0 | 27K | 0 | 24K | 0 | 18K | -525.32K | 68K | 35K | 41.1K | 20K | 98K | 0 | -3M | -420K | 88K | -200K | -233K | 3K | 3K |
| Effective Tax Rate % | 0% | -0.15% | 0% | -0.1% | 0% | -0.04% | 0.26% | -0.22% | -0.09% | -0.3% | -0.06% | -0.35% | 0% | 8.03% | 0.97% | -0.16% | 0.49% | 0.53% | -0.01% | -0.01% |
| Net Income | -11.39M | -17.53M | -28.07M | -24.28M | -21.04M | -46.47M | -205.02M | -31.46M | -41.29M | -52.66M | -62.45M | -30.1M | -33.92M | -34.43M | -42.88M | -55.79M | -40.4M | -43.83M | -30.85M | -21.91M |
| Net Margin % | -58.66% | -52.1% | -86.37% | -136.08% | -136.7% | -189.52% | -1389.39% | -196.61% | -285.72% | -111.07% | -230.8% | -196.53% | -256.12% | -168.23% | -200.91% | -266.53% | -191.93% | -119.42% | -122.32% | -87.79% |
| Net Income Growth % | 45.85% | 62.28% | 86.31% | 22.83% | 49.06% | 11.76% | -228.27% | -4.55% | -21.74% | -52.97% | -45.64% | 46.06% | 16.03% | 21.46% | -39% | -154.6% | -129.02% | -198.46% | -162.41% | -91.68% |
| Net Income (Continuing) | -11.39M | -17.53M | -28.07M | -24.28M | -21.04M | -46.47M | -204.53M | -31.46M | -41.07M | -17.74M | -34.72M | -28.21M | -32.39M | -34.43M | -42.88M | -55.79M | -40.4M | -43.84M | -30.84M | -21.91M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | -487K | -1K | -226K | -1000K | -1000K | -1000K | -1000K | 0 | 0 | 0 | 0 | 5K | -5K | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.04 | -0.06 | -0.09 | -0.08 | -0.07 | -0.15 | -0.68 | -0.11 | -0.14 | -0.18 | -0.21 | -0.10 | -0.08 | -0.12 | -0.14 | -0.19 | -0.14 | -0.15 | -0.10 | -0.07 |
| EPS Growth % | 46.87% | 59.33% | 86.41% | 26.36% | 49.86% | 16.67% | -223.81% | -10% | -66.67% | -50% | -50% | 47.37% | 40% | 20% | -40% | -158.15% | -128.76% | -194.12% | -109.2% | -56.93% |
| EPS (Basic) | -0.04 | -0.06 | -0.09 | -0.08 | -0.07 | -0.15 | -0.68 | -0.11 | -0.14 | -0.18 | -0.21 | -0.10 | -0.08 | -0.12 | -0.14 | -0.19 | -0.14 | -0.15 | -0.10 | -0.07 |
| Diluted Shares Outstanding | 300.93M | 291.53M | 300.51M | 299.84M | 299.52M | 299.43M | 299.41M | 299.39M | 299.01M | 298.83M | 298.7M | 298.68M | 298.43M | 298.32M | 298.18M | 298.16M | 297.82M | 297.61M | 297.61M | 297.57M |
| Basic Shares Outstanding | 300.93M | 291.53M | 300.51M | 299.84M | 299.52M | 299.43M | 299.41M | 299.39M | 299.01M | 298.83M | 298.7M | 298.68M | 298.43M | 298.32M | 298.18M | 298.16M | 297.82M | 297.61M | 297.61M | 297.57M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |