Ballard Power Systems (BLDP) Revenue (2009 - 2025)

Ballard Power Systems' (BLDP) quarterly Revenue came in at $33.6 million in Q4 2025, up 37.19% year-on-year from $24.5 million in Q4 2024, and up 3.5% on a QoQ basis from $32.5 million in Q3 2025.

Ballard Power Systems (BLDP) Revenue (2009 - 2025) Analysis & Trends

Ballard Power Systems (BLDP) has 17 years of Revenue data on file, last reported at $33.6 million in Q4 2025.

  • On a quarterly basis, Revenue rose 37.19% year-over-year to $33.6 million in Q4 2025; TTM through Dec 2025 was $99.4 million, a 42.5% increase from a year earlier, with the FY2025 full-year figure at $99.4 million, up 42.5% from the prior year.
  • Revenue for Q4 2025 stood at $33.6 million, up from $32.5 million in the prior quarter.
  • Over the last five years, Revenue for BLDP reached as high as $46.8 million in Q4 2023 and fell as low as $138000.0 in Q4 2021.
  • Historically, Revenue has averaged $21.1 million across 5 years, with a median of $19.7 million in 2022.
  • Across the five-year window, Revenue slumped 99.52% in 2021 and jumped 13333.33% in 2022, its largest moves.
  • Year by year, Revenue stood at $138000.0 in 2021, then soared by 13333.33% to $18.5 million in 2022, then soared by 152.19% to $46.8 million in 2023, then sank by 47.55% to $24.5 million in 2024, then soared by 37.19% to $33.6 million in 2025.
  • Per Business Quant data, the three most recent Revenue figures were $33.6 million in Q4 2025, $32.5 million in Q3 2025, and $17.8 million in Q2 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Revenue (Qtr)
1 Electrovaya 424.38 Bn 424.36 Bn 6.04 Mn 18.05 Mn
2 Vertiv Holdings 116.45 Bn 113.95 Bn 999.70 Mn 2.65 Bn
3 Bloom Energy 61.23 Bn 58.77 Bn 225.54 Mn 751.05 Mn
4 Hubbell 25.93 Bn 25.43 Bn 505.30 Mn 1.52 Bn
5 nVent Electric 25.66 Bn 25.47 Bn 445.60 Mn 1.24 Bn
6 Advanced Energy Industries 11.88 Bn 11.18 Bn 200.90 Mn 511.00 Mn
7 Acuity Inc. (De) 9.90 Bn 9.48 Bn 606.40 Mn 1.20 Bn
8 Powell Industries 9.42 Bn 8.87 Bn 87.94 Mn 296.62 Mn
9 EnerSys 7.49 Bn 7.05 Bn 290.87 Mn 987.94 Mn
10 Ballard Power Systems 895.53 Mn 364.27 Mn 5.64 Mn 33.64 Mn

Historic Data

Download Data
DateValue
Dec 31, 2025 33.64 Mn
Sep 30, 2025 32.50 Mn
Jun 30, 2025 17.84 Mn
Mar 31, 2025 15.39 Mn
Dec 31, 2024 24.52 Mn
Sep 30, 2024 14.76 Mn
Jun 30, 2024 16.00 Mn
Mar 31, 2024 14.45 Mn
Dec 31, 2023 46.75 Mn
Sep 30, 2023 27.06 Mn
Jun 30, 2023 15.31 Mn
Mar 31, 2023 13.24 Mn
Dec 31, 2022 18.54 Mn
Sep 30, 2022 21.34 Mn
Jun 30, 2022 20.93 Mn
Mar 31, 2022 21.05 Mn
Dec 31, 2021 138,000.00
Sep 30, 2021 25.22 Mn
Jun 30, 2021 24.96 Mn
Mar 31, 2021 17.62 Mn