Ballard Power Systems (BLDP) Research & Development (2009 - 2025)

Ballard Power Systems (BLDP) has 17 years of Research & Development data on file, last reported at $10.9 million in Q4 2025.

• Research & Development for Q4 2025 came in at $10.9 million, down 45.06% year-over-year; the trailing twelve-month figure through Dec 2025 was $58.7 million (down 37.84% YoY), and the FY2025 annual result was $58.7 million, down 37.84% from the prior year.
• Research & Development retreated to $10.9 million in Q4 2025 per BLDP's latest filing, from $11.5 million in the prior quarter.
• Over five years, Research & Development peaked at $26.6 million in Q2 2022 and troughed at $10.9 million in Q4 2025.
• A 5-year average of $20.2 million and a median of $20.5 million in 2022 frame the typical range for Research & Development.
• The sharpest annual moves came in 2021 and 2025: Research & Development soared 118.95% in 2021, then sank 51.47% in 2025.
• A 5-year view of Research & Development shows it stood at $19.9 million in 2021, then retreated by 15.92% to $16.7 million in 2022, then surged by 46.4% to $24.5 million in 2023, then slipped by 18.6% to $19.9 million in 2024, then slumped by 45.06% to $10.9 million in 2025.
• Business Quant data shows BLDP's Research & Development at $10.9 million in Q4 2025, $11.5 million in Q3 2025, and $18.2 million in Q2 2025.