Ballard Power Systems (BLDP) Cost of Revenue (2009 - 2026)
Ballard Power Systems' (BLDP) quarterly Cost of Revenue came in at $16.5 million in Q2 2026, down 14.58% year-over-year from $19.3 million in Q2 2025, and down 0.84% quarter-over-quarter from $16.7 million in Q1 2026.
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Analysis
Ballard Power Systems (BLDP) Cost of Revenue (2009 - 2026) Analysis & Trends
Ballard Power Systems (BLDP) has reported Cost of Revenue for 18 consecutive years, with $16.5 million the latest figure, recorded in Q2 2026.
- On a quarterly basis, Cost of Revenue fell 14.58% year-over-year to $16.5 million in Q2 2026; TTM through Jun 2026 was $88.8 million, a 0.34% change from a year earlier, with the FY2025 full-year figure at $93.9 million, up 2.39% from the prior year.
- Cost of Revenue was $16.5 million for Q2 2026 at Ballard Power Systems, down from $16.7 million in the prior quarter.
- Over five years, Cost of Revenue peaked at $56.9 million in Q4 2023 and troughed at $16.5 million in Q2 2026.
- A 5-year average of $24.3 million and a median of $22.1 million in 2022 frame the typical range for Cost of Revenue.
- Across the five-year window, Cost of Revenue jumped 130.72% in 2023 and slumped 51.25% in 2024, its largest moves.
- Over 5 years, Cost of Revenue stood at $24.7 million in 2022, then jumped by 130.72% to $56.9 million in 2023, then plunged by 51.25% to $27.7 million in 2024, then increased by 1.04% to $28.0 million in 2025, then slumped by 41.08% to $16.5 million in 2026.
- The last three Cost of Revenue figures came in at $16.5 million (Q2 2026), $16.7 million (Q1 2026), and $28.0 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Bloom Energy | 77.91 Bn | 75.27 Bn | 355.57 Mn | 709.79 Mn |
| 2 | Fuelcell Energy | 1.45 Bn | 797.66 Mn | -24.50 Mn | 57.50 Mn |
| 3 | Ballard Power Systems | 652.70 Mn | 147.56 Mn | 4.08 Mn | 16.52 Mn |
| 4 | Sunhydrogen | 114.56 Mn | 114.56 Mn | -45,724.00 | 45,724.00 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 16.52 Mn |
| Mar 31, 2026 | 16.66 Mn |
| Dec 31, 2025 | 28.04 Mn |
| Sep 30, 2025 | 27.54 Mn |
| Jun 30, 2025 | 19.34 Mn |
| Mar 31, 2025 | 19.00 Mn |
| Dec 31, 2024 | 27.75 Mn |
| Sep 30, 2024 | 22.97 Mn |
| Jun 30, 2024 | 21.13 Mn |
| Mar 31, 2024 | 19.87 Mn |
| Dec 31, 2023 | 56.92 Mn |
| Sep 30, 2023 | 29.92 Mn |
| Jun 30, 2023 | 18.50 Mn |
| Mar 31, 2023 | 18.86 Mn |
| Dec 31, 2022 | 24.67 Mn |
| Sep 30, 2022 | 26.11 Mn |
| Jun 30, 2022 | 23.14 Mn |
| Mar 31, 2022 | 21.26 Mn |
| Dec 31, 2021 | 31.93 Mn |
| Sep 30, 2021 | 22.39 Mn |
API Access
Ballard Power Systems Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=BLDP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "BLDP", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=BLDP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();