Quarterly ResultMay 5, 2026, 09:12 AM
Ballard Power Q1 Revenue +26% to $19.4M; Gross Margin 14%
AI Summary
Ballard Power Systems reported Q1 2026 revenue of $19.4 million, a 26% increase year-over-year, driven by increased engine shipments. The company achieved a 14% gross margin, a 37-point improvement, and reduced total operating expenses by 36%. Net loss from continuing operations improved by 46% to ($11.4) million. Ballard also noted strong momentum in the fuel cell bus market with new agreements and ended the quarter with $516.8 million in cash.
Key Highlights
- Q1 2026 revenue increased 26% year-over-year to $19.4 million.
- Gross margin improved by 37 points to 14% in Q1 2026.
- Total Operating Expenses decreased 36% to $16.4 million.
- Net Loss from Continuing Operations improved 46% to ($11.4) million.
- Cash used by operating activities improved 68% to ($7.8) million.
- Ended Q1 2026 with $516.8 million in cash and cash equivalents.
- Rail revenue surged 4472% to $5.1 million; Stationary revenue grew 775% to $5.2 million.
- Order Backlog at Q1 end was $112.9 million, a 5% decrease from Q4 2025.
Price Impact
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