BLDP Q1 2026 earnings show CAD 19.4 million revenue and reduced cash burn despite missing estimates slightly.
Ballard Power Systems Inc. (NASDAQ:BLDP) posted a 26% year-over-year revenue increase to CAD 19.4 million in Q1 2026, though it marginally missed estimates. The company achieved its third consecutive quarter of positive gross margin, improving 14% from a negative level a year ago.
Earnings per share came in at -0.04, beating expectations of -0.06. Operating expenses fell 36%, while operating cash burn dropped by approximately 65%. Management provided tight 2026 guidance, forecasting capex of $5M–$10M and total operating expenses of $65M–$75M.
Ballard also secured multi-year fuel-cell engine partnerships with New Flyer, Wrightbus, and Solaris, extending its relationship with Solaris until 2029 for hydrogen bus fleets in Europe.