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.

• On a quarterly basis, Research & Development fell 45.06% year-over-year to $10.9 million in Q4 2025; TTM through Dec 2025 was $58.7 million, a 37.84% decrease from a year earlier, with the FY2025 full-year figure at $58.7 million, down 37.84% from the prior year.
• Research & Development for Q4 2025 stood at $10.9 million, down from $11.5 million in the prior quarter.
• Over the last five years, Research & Development for BLDP reached as high as $26.6 million in Q2 2022 and fell as low as $10.9 million in Q4 2025.
• Historically, Research & Development has averaged $20.2 million across 5 years, with a median of $20.5 million in 2022.
• Across the five-year window, Research & Development jumped 118.95% in 2021 and tumbled 51.47% in 2025, its largest moves.
• Year by year, Research & Development stood at $19.9 million in 2021, then dropped by 15.92% to $16.7 million in 2022, then surged by 46.4% to $24.5 million in 2023, then fell by 18.6% to $19.9 million in 2024, then tumbled by 45.06% to $10.9 million in 2025.
• Per Business Quant data, the three most recent Research & Development figures were $10.9 million in Q4 2025, $11.5 million in Q3 2025, and $18.2 million in Q2 2025.