United States was the largest of Ballard Power Systems Inc.’s 12 reported lines in fiscal 2025, at $32.28M — 32% of $99.37M.
| Geography | FY 2024 | FY 2025 |
|---|---|---|
| United States | $15.00M | $32.28M |
| Poland | $21.66M | $21.57M |
| United Kingdom | $12.77M | $8.20M |
| Canada | $3.00M | $17.89M |
| Germany | $4.18M | $8.41M |
| Other Countries | $3.23M | $2.24M |
| France | $4.02M | $317.00K |
| China | $2.63M | $1.55M |
| Egypt | $154.00K | $3.51M |
| Denmark | $2.16M | $342.00K |
| Spain | $260.00K | $1.88M |
| Netherlands | $668.00K | $1.19M |
| Total | $69.73M | $99.37M |
In fiscal 2025, which ended December 31, 2025, the 12 regions Ballard Power Systems Inc. reported in this breakdown added up to $99.37M. That was up 42.5% from $69.73M in fiscal 2024. United States was the largest region, at $32.28M or 32.5% of the total, followed by Poland ($21.57M, 21.7%) and Canada ($17.89M, 18.0%). Together, the two largest regions made up 54.2% of this total.
Compared with fiscal 2024, Egypt grew the fastest, rising 2,180.5% to $3.51M. United Kingdom fell the most, down 35.8% to $8.20M.
This breakdown covers every fiscal year from 2024 to 2025, as reported in Ballard Power Systems Inc.'s annual filings.
Bus was the largest of Ballard Power Systems Inc.’s 6 reported lines in fiscal 2025, at $50.00M — 50% of $99.37M.
| Products and services [axis] | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Heavy Duty Motive | — | — | — | — | |||||
| Technology Solutions | — | — | — | — | |||||
| Bus | $24.92M | $29.27M | $44.16M | $50.00M | |||||
| Stationary | $18.87M | $21.71M | $12.76M | $8.14M | |||||
| Rail | $5.11M | $19.10M | $2.65M | $25.47M | |||||
| Emerging Markets & Other | $19.31M | $14.00M | $3.58M | $10.19M | |||||
| Stationary Power Generation | — | — | — | — | |||||
| Material Handling | — | — | — | — | |||||
| Truck | $11.47M | $10.96M | $3.71M | $1.68M | |||||
| Portable Power | — | — | — | — | |||||
| Marine | $2.18M | $7.33M | $2.87M | $3.89M | |||||
| Back Up Power | — | — | — | — | |||||
| Total | $81.86M | $102.37M | $69.73M | $99.37M |
In fiscal 2025, which ended December 31, 2025, the 6 revenue lines Ballard Power Systems Inc. reported in this breakdown added up to $99.37M. That was up 42.5% from $69.73M in fiscal 2024. Bus was the largest revenue line, at $50.00M or 50.3% of the total, followed by Rail ($25.47M, 25.6%) and Emerging Markets & Other ($10.19M, 10.3%). Together, the two largest revenue lines made up 75.9% of this total.
Compared with fiscal 2024, Rail grew the fastest, rising 862.1% to $25.47M. Stationary fell the most, down 36.2% to $8.14M. Over fiscal 2022 to 2025, revenue across these revenue lines went from $81.86M to $99.37M, a compound annual growth rate of 6.7%. Bus' share of the total rose from 30.4% to 50.3% over the same years.
The table also keeps 6 revenue lines that Ballard Power Systems Inc. no longer reports, so earlier years can still be read on their original basis; use "Show 6 discontinued" beneath the table to see them. This breakdown covers every fiscal year from 2017 to 2025, as reported in Ballard Power Systems Inc.'s annual filings.
Products Transferred At A Point In Time was the largest of Ballard Power Systems Inc.’s 2 reported lines in fiscal 2025, at $92.43M — 93% of $99.37M.
| Timing of transfer of goods or services [axis] | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Products Transferred At A Point In Time | $52.75M | $78.77M | $59.73M | $92.43M | |||||
| Products & Services Transferred Over Time | $29.11M | $23.60M | $10.00M | $6.94M | |||||
| Total | $81.86M | $102.37M | $69.73M | $99.37M |
In fiscal 2025, which ended December 31, 2025, the 2 revenue lines Ballard Power Systems Inc. reported in this breakdown added up to $99.37M. That was up 42.5% from $69.73M in fiscal 2024. Products Transferred At A Point In Time was the largest revenue line, at $92.43M or 93.0% of the total, followed by Products & Services Transferred Over Time ($6.94M, 7.0%).
Compared with fiscal 2024, Products Transferred At A Point In Time grew the fastest, rising 54.7% to $92.43M. Products & Services Transferred Over Time fell the most, down 30.5% to $6.94M. Over fiscal 2022 to 2025, revenue across these revenue lines went from $81.86M to $99.37M, a compound annual growth rate of 6.7%. Products Transferred At A Point In Time's share of the total rose from 64.4% to 93.0% over the same years.
This breakdown covers every fiscal year from 2017 to 2025, as reported in Ballard Power Systems Inc.'s annual filings.
Ballard Power Systems Inc. (BLDP) breaks its revenue down by region and revenue line. In fiscal 2025, its largest region was United States, with $32.28M or 32.5% of the total, followed by Poland at $21.57M (21.7%).
United States was Ballard Power Systems Inc.'s largest region in fiscal 2025, with $32.28M in revenue, 32.5% of the $99.37M reported across its 12 regions.
Bus was Ballard Power Systems Inc.'s largest revenue line in fiscal 2025, with $50.00M in revenue, 50.3% of the $99.37M reported across its 6 revenue lines.
Of the Ballard Power Systems Inc. regions reported in both fiscal 2024 and fiscal 2025, and making up at least 2% of the total, Egypt grew the fastest, rising 2,180.5% from $154.00K to $3.51M.
Every figure is taken from Ballard Power Systems Inc.'s annual financial filings and shown as reported: each line keeps the name the company gives it, years follow its own fiscal calendar, and lines it has stopped reporting stay in the table for the years they were reported.
The breakdown by region covers fiscal 2024 to 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.