Ballard Power Systems (BLDP) Operating Expenses (2009 - 2026)
Ballard Power Systems (BLDP) reported Operating Expenses of $20.92 million for the quarter ended Jun 30, 2026, down 34.0% from $31.71 million a year earlier but up 27.5% from the prior quarter.
Ballard Power Systems (BLDP) Operating Expenses (2009 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Ballard Power Systems' Operating Expenses came in at $89.1 million, down 38.6% year-over-year; for the year ended Dec 31, 2025, it came in at $108.92 million, down 32.5% from the prior year.
- Operating Expenses has a five-year compound annual growth rate of 12.4% (years ended Dec 2020 to Dec 2025).
- By year, Operating Expenses came in at $161.32 million in the year ended Dec 31, 2024 (+14.4%), $141.07 million in the year ended Dec 31, 2023 (+6.9%), $132.02 million in the year ended Dec 31, 2022 (+29.3%) and $102.12 million in the year ended Dec 31, 2021 (+68.1%).
- Five-year quarterly Operating Expenses spans a low of $16.41 million in the quarter ended Mar 31, 2026 and a high of $54.87 million in the quarter ended Sep 30, 2024.
- Year over year, Operating Expenses has now declined in each of the last seven quarters, with an average decline of 18.3% over the last eight quarters.
- The high point for year-over-year Operating Expenses in five years was the quarter ended Sep 30, 2021 (growth of 118.6%); the low point was the quarter ended Dec 31, 2025 (a decline of 49.0%).
- Per Business Quant data, the three quarters before the quarter ended Jun 30, 2026 came in at $16.41 million (quarter ended Mar 31, 2026), $16.87 million (quarter ended Dec 31, 2025) and $34.9 million (quarter ended Sep 30, 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 243.42 Bn | 203.34 Bn | 2.36 Bn | 1.71 Bn |
| 2 | Bloom Energy | 64.86 Bn | 56.65 Bn | 355.57 Mn | 173.34 Mn |
| 3 | First Solar | 18.49 Bn | 9.44 Bn | 605.00 Mn | 154.62 Mn |
| 4 | BWX Technologies | 12.47 Bn | 10.77 Bn | 202.31 Mn | 811.92 Mn |
| 5 | Nextpower | 12.04 Bn | 7.93 Bn | 335.85 Mn | 144.95 Mn |
| 6 | Generac Holdings | 11.40 Bn | 10.23 Bn | 521.81 Mn | 311.38 Mn |
| 7 | EnerSys | 6.16 Bn | 4.36 Bn | 313.36 Mn | 151.24 Mn |
| 8 | Enphase Energy | 4.04 Bn | -817.10 Mn | 175.01 Mn | 123.50 Mn |
| 9 | Mirion Technologies | 3.66 Bn | 1.50 Bn | 133.10 Mn | 115.20 Mn |
| 10 | Ballard Power Systems | 457.74 Mn | -1.63 Bn | 4.08 Mn | 20.92 Mn |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 20.92 Mn |
| Mar 31, 2026 | 16.41 Mn |
| Dec 31, 2025 | 16.87 Mn |
| Sep 30, 2025 | 34.90 Mn |
| Jun 30, 2025 | 31.71 Mn |
| Mar 31, 2025 | 25.45 Mn |
| Dec 31, 2024 | 33.10 Mn |
| Sep 30, 2024 | 54.87 Mn |
| Jun 30, 2024 | 36.23 Mn |
| Mar 31, 2024 | 37.06 Mn |
| Dec 31, 2023 | 35.00 Mn |
| Sep 30, 2023 | 34.69 Mn |
| Jun 30, 2023 | 37.58 Mn |
| Mar 31, 2023 | 35.83 Mn |
| Dec 31, 2022 | 23.25 Mn |
| Sep 30, 2022 | 40.00 Mn |
| Jun 30, 2022 | 38.46 Mn |
| Mar 31, 2022 | 30.31 Mn |
| Dec 31, 2021 | 32.31 Mn |
| Sep 30, 2021 | 27.44 Mn |
Ballard Power Systems Operating Expenses 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=operating-expenses&ticker=BLDP&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=BLDP&period=max&api_key=YOUR_API_KEY");
const data = await res.json();