Ballard Power Systems (BLDP) Cost of Revenue (2009 - 2026)
Ballard Power Systems' Cost of Revenue was $16.52 million in the quarter ended Jun 30, 2026, down 14.6% from $19.34 million a year earlier and down 0.8% from the prior quarter.
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Analysis
Ballard Power Systems (BLDP) Cost of Revenue (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Ballard Power Systems' Cost of Revenue was $88.75 million through Jun 30, 2026, down 0.3% year-over-year; for the year ended Dec 31, 2025, it was $93.91 million, up 2.4% from the prior year.
- Cost of Revenue shows a five-year compound annual growth rate of 2.5% (years ended Dec 2020 to Dec 2025).
- In earlier years, Cost of Revenue was $91.71 million in the year ended Dec 31, 2024 (-26.2%), $124.2 million in the year ended Dec 31, 2023 (+30.5%), $95.17 million in the year ended Dec 31, 2022 (+5.2%) and $90.49 million in the year ended Dec 31, 2021 (+9.2%).
- The figure for the quarter ended Jun 30, 2026 marks the lowest quarterly Cost of Revenue since the quarter ended Mar 31, 2021.
- Compared with a year earlier, Cost of Revenue was higher in two of the last eight quarters, with an average decline of 11.7%.
- The best year-over-year quarter for Cost of Revenue over five years was the quarter ended Dec 31, 2023 (growth of 130.7%); the worst was the quarter ended Dec 31, 2024 (a decline of 51.3%).
- Per Business Quant data, BLDP's Cost of Revenue in the three quarters before the quarter ended Jun 30, 2026 was $16.66 million (quarter ended Mar 31, 2026), $28.04 million (quarter ended Dec 31, 2025) and $27.54 million (quarter ended Sep 30, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 238.25 Bn | 198.17 Bn | 2.36 Bn | 8.74 Bn |
| 2 | Bloom Energy | 64.00 Bn | 55.79 Bn | 355.57 Mn | 709.79 Mn |
| 3 | First Solar | 18.75 Bn | 9.70 Bn | 605.00 Mn | 451.19 Mn |
| 4 | BWX Technologies | 12.32 Bn | 10.62 Bn | 202.31 Mn | 699.32 Mn |
| 5 | Nextpower | 11.91 Bn | 7.80 Bn | 335.85 Mn | 599.32 Mn |
| 6 | Generac Holdings | 11.42 Bn | 10.25 Bn | 521.81 Mn | 651.70 Mn |
| 7 | EnerSys | 6.22 Bn | 4.41 Bn | 313.36 Mn | 622.28 Mn |
| 8 | Enphase Energy | 4.25 Bn | -607.94 Mn | 175.01 Mn | 116.84 Mn |
| 9 | Mirion Technologies | 3.72 Bn | 1.56 Bn | 133.10 Mn | 133.70 Mn |
| 10 | Ballard Power Systems | 454.74 Mn | -1.63 Bn | 4.08 Mn | 16.52 Mn |
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();