Ballard Power Systems Inc. revenue

Ballard Power Systems Inc.'s revenue was $99.4m in fiscal 2025, up 42.5% on the year before. Since fiscal 2016 ($85.3m) it has grown at a compound 1.7% a year.

Revenue history

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Ballard Power Systems Inc.: revenue history, annual
Fiscal year	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Revenue	85	121	97	106	104	105	82	102	70	99
Growth on the year before	—	+42.2%	−20.4%	+9.5%	−1.7%	+0.6%	−21.7%	+25.1%	−31.9%	+42.5%
Gross profit	24	42	30	22	21	14	−13	−22	−22	5
Gross margin	28.4%	34.3%	30.7%	21.1%	20.2%	13.4%	−16.3%	−21.3%	−31.5%	5.5%

Revenue as reported in the company's 10-K and 10-Q filings (for banks, net interest income plus non-interest income). Growth is left blank when the earlier figure was zero or negative.

Revenue against peers

Electrical Components & Equipment: the closest covered companies by revenue. Last twelve months.

Company	Revenue	Growth	3-year growth a year
Ballard Power Systems Inc.	$99.4m	42.5%	—
Blink Charging Co.	$96.5m	-7.9%	0.8%
FTC Solar, Inc.	$102m	59.5%	-4.1%
Skyx Platforms Corp.	$96.2m	8.1%	85.7%
Orion Energy Systems, Inc.	$92.5m	16.5%	6.3%
Amprius Technologies, Inc.	$109m	143.6%	203.2%

Compare with peers

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More: Electrical Components & Equipment stocks compared, Industrials sector, rankings of US companies

Figures from Ballard Power Systems Inc.'s SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Ballard Power Systems Inc.