Latest news with #BallardPower
Yahoo
3 days ago
- Business
- Yahoo
Ballard Power Systems Files Latest Base Shelf Prospectus for Financial Flexibility
Ballard Power Systems Inc. (NASDAQ:BLDP) is among the 13 Best Hydrogen and Fuel Cell Stocks to Buy According to Analysts. It has replaced its 2023 prospectus, which expired on June 9, 2025, with a new final short form base shelf prospectus dated June 11, 2025, together with a matching Form F-10 registration statement filed with the U.S. SEC. An industrial facility floor with employees walking around PEM fuel cell applications. Although Ballard Power Systems Inc. (NASDAQ:BLDP) does not presently have any plans to raise cash, the new registration allows the business to issue a variety of securities over the next 25 months, including common shares, preferred shares, warrants, debt securities, and units. Ballard Power Systems Inc. (NASDAQ:BLDP) has the financial flexibility to access capital markets if necessary, as its filings are available in all Canadian provinces and territories. A prospectus supplement will be provided at the time of issuance to disclose any information about a future offering, including terms, the use of proceeds, and particular securities. Ballard Power Systems Inc. (NASDAQ:BLDP)'s dedication to a sustainable energy future is reinforced by the zero-emission mobility that its fuel cell technology provides for industries such as buses, commercial trucks, railroads, and marine vessels. It is one of the best hydrogen stocks. While we acknowledge the potential of BLDP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 High-Growth EV Stocks to Invest In and 13 Best Car Stocks to Buy in 2025. Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Ballard announces leadership transition
VANCOUVER, BC, June 16, 2025 /PRNewswire/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced a planned leadership transition. After more than a decade of transformative leadership, Randy MacEwen will step down as President and Chief Executive Officer, with Marty Neese assuming the position effective July 7, 2025. "It has been a true privilege to lead Ballard for the past 11 years during a dynamic period for the company and hydrogen industry," said Randy MacEwen. "We have built a strong foundation that has positioned the company as an industry leader. Given changing industry dynamics, including a focus on product cost reduction, it is the right time for a new leader with a strong operational background to guide Ballard into the future." The Board of Directors has appointed Marty Neese as President & CEO following a succession planning process. A seasoned executive with a deep background in operations, Mr. Neese has extensive experience in product standardization, product cost reduction, volume production, and gross margin optimization. Mr. Neese has served on Ballard's Board of Directors over the past 10 years, and as the CEO of Verdagy, an innovative electrolysis and green hydrogen company, over the past four years. Earlier in his career, he served as the chief operating officer of SunPower and Flex. With his background and experience, Mr. Neese is uniquely qualified to drive the company's next phase of growth and operational efficiency. "Marty is the right leader for Ballard as the fuel cell industry undergoes a period of rationalization and competitive realignment," said Jim Roche, Chair of the Board of Directors. "His proven track record in operational excellence, product innovation and commercialization, and cost management will ensure Ballard not only adapts to this new environment but thrives in it." "The fuel cell industry is entering a new phase, and Ballard is taking decisive steps to position itself for long-term sustainable success," said Mr. Neese. "I am honored to step into this role at a company with such a strong brand, and a leading track record for safety, technology, and proven field performance in our target markets. We have a fortress balance sheet with no requirements for near-term or mid-term financings. Working alongside our talented team, I look forward to building on this solid foundation, optimizing our operations, accelerating innovation, and unlocking long-term value for our stakeholders." The leadership transition has been carefully planned to ensure a seamless and orderly handover. Mr. MacEwen will continue to serve as the CEO until Marty's start date and then will remain available in an advisory capacity through September 30, 2025. About Ballard Power Systems Ballard Power Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero-emission PEM fuel cells enable electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power. To learn more about Ballard, please visit This release contains forward-looking statements concerning anticipated impacts of the announced leadership change. These forward-looking statements reflect Ballard's current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any such forward-looking statements are based on Ballard's assumptions relating to its financial forecasts and expectations regarding its product development efforts, manufacturing capacity, and market demand. These statements involve risks and uncertainties that may cause Ballard's actual results to be materially different, including general economic and regulatory changes, detrimental reliance on third parties, successfully achieving our business plans and achieving and sustaining profitability. For a detailed discussion of these and other risk factors that could affect Ballard's future performance, please refer to Ballard's most recent Annual Information Form. Readers should not place undue reliance on Ballard's forward-looking statements and Ballard assumes no obligation to update or release any revisions to these forward-looking statements, other than as required under applicable legislation. Further Information Ballard Power Systems: Sumit Kundu – Investor Relations, +1.604.453.3517 or investors@ View original content to download multimedia: SOURCE Ballard Power Systems Inc.
Business Insider
12-06-2025
- Business
- Business Insider
Ballard Power files automatic mixed securities shelf
17:04 EDT Ballard Power (BLDP) files automatic mixed securities shelf Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Globe and Mail
06-05-2025
- Business
- Globe and Mail
Ballard Reports Q1 2025 Results
VANCOUVER, BC , May 6, 2025 /CNW/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced consolidated financial results for the first quarter ended March 31, 2025 . All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with International Financial Reporting Standards (IFRS). Highlights (comparisons are to Q1 2024): Revenue of $15.4 million , up 6% YoY, primarily driven by bus market strength; engine shipments up 31% 14 point improvement in gross margins, primarily driven by increased revenue and lower manufacturing overhead costs 22% and 31% reductions in Cash Operating Costs 1 and Total Operating Expenses 2 respectively, primarily driven by restructuring actions initiated in September 2024 Q1 ended with $576.7 million in cash and cash equivalents "Amidst an uncertain macroeconomic, geopolitical and industry context, we continue to focus on our controllables," stated Randy MacEwen, President and CEO. "Compared to prior year, 2025 Q1 revenue increased 6%, engine shipments were up 31%, gross margin improved by 14 points, and Total Operating Expenses 2 were down 31%." Mr. MacEwen added, "We are encouraged with the continued growth in the Bus market, which contributed 81% of Q1 revenue, up 41% year-over-year. After securing new order intake of $75.4 million in Q4, we saw soft order intake in Q1. While certain sales opportunities were delayed as the hydrogen and fuel cell industry continues to undergo rationalization and compounded by tariff uncertainties, we expect significant orders over the coming quarters. We ended Q1 with an Order Backlog of $158 million , including a 12-month Orderbook of $92.4 million ." Mr. MacEwen concluded, "As we look to the remainder of 2025, we will continue to navigate uncertainties related to hydrogen policies and trade tariffs. We will continue to focus on our customers, new order intake, on-time delivery of quality products, gross margin expansion initiatives, and prioritized product development and cost reduction programs. As our Q1 results reflect, we are starting to see the positive financial impact of the corporate restructuring we initiated last year. We continue to assess opportunities for further cost rationalization in 2025. Importantly, we ended Q1 with $576.7 million in cash, and no requirements for near- or mid-term financing. We will maintain disciplined spending and balance sheet strength for long-term sustainability." Q1 2025 Financial Highlights (all comparisons are to Q1 2024 unless otherwise noted) Total revenue was $15.4 million in the quarter, up 6% year-over-year. Heavy Duty Mobility revenue of $12.9 million , 22% higher year-over-year, driven by bus revenues which grew 41% but were offset with lower revenue from truck, rail, and marine verticals. Stationary revenue was $0.6 million , (84%) year-over-year, and Emerging and Other Markets revenue was $1.9 million or 757% higher compared to Q1 2024. Gross margin was (23%) in the quarter, an improvement of 14-points. Negative gross margin has continued to be impacted by relatively low revenue and manufacturing cost absorption. Improvement in gross margin over the prior year was primarily due to lower manufacturing overhead costs from restructuring actions taken in Q3 2024. Total Operating Expenses 2 were $25.5 million, a decrease of 31%, a result of our reduced global operating cost structure from our 2024 restructuring activities, including reductions of 28%, 32% and 23% in research and product development, general and administrative, and sales and marketing expenses, respectively. Cash Operating Costs 1 were $23 .2 million, a decrease of 22%, also driven by our 2024 restructuring. Total Cash Used by Operating Activities was $24.4 million , compared to $20.0 million in the prior year. Cash and cash equivalents were $576.7 million at the end of Q1 2025, compared to $720.7 million in the prior year. Adjusted EBITDA 1 was ($27.5) million , compared to ($36.6) million in Q1 2024. The improvement in Adjusted EBITDA was driven primarily by margin and operating cost improvements, as well as certain changes in mark to market gains on financial assets. Order Backlog at the end of Q1 2025 was $158.0 million , a decrease of 9% compared to the end of Q4 2024 as a result of delivering more revenue in Q1 than new orders received in Q1. The 12-month Orderbook was $92.4 million at end-Q1, a decrease of $6.6 million or 7% from the end of Q4 2024. 2025 Outlook Consistent with our past practice, and in view of the early stage of hydrogen fuel cell market development, specific revenue and net income (loss) guidance for 2025 is not provided. We expect revenue in 2025 will be back-half weighted. Total Operating Expense 2 and Capital Expenditure 3 guidance ranges for 2025 are as noted below. We continue to review and consider various options to reduce our operating cost structure and capital spend, which may result in revisions to our guidance ranges at a future date. 2025 Guidance Total Operating Expense 2 $100 - $120 million Capital Expenditure 3 $15 - $25 million Q1 2025 Financial Summary (Millions of U.S. dollars) Three months ended March 31 2025 2024 % Change REVENUE Fuel Cell Products & Services: 4 Heavy-Duty Mobility $12.9 $10.6 22 % Bus $12.5 $8.9 41 % Truck $0.3 $1.2 (73 %) Rail $0.1 $0.3 (68 %) Marine - $0.2 (99 %) Stationary $0.6 $3.7 (84 %) Emerging and Other Markets $1.9 $0.2 (757 %) Total Fuel Cell Products & Services Revenue $15.4 $14.5 6 % PROFITABILITY Gross Margin $ ($3.6) ($5.4) (33 %) Gross Margin % (23 %) (37 %) 14pts Total Operating Expenses 2 $25.5 $37.1 (31 %) Cash Operating Costs1 $23.2 $29.8 (22 %) Equity loss in JV & Associates ($0.8) ($0.8) 0 % Adjusted EBITDA1 ($27.5) ($36.6) 25 % Net Loss from Continuing Operations 4 ($21.0) ($41.1) 49 % Loss Per Share from Continuing Operations 4 ($0.07) ($0.14) 49 % CASH Cash provided by (used in) Operating Activities: Cash Operating Loss ($21.7) ($24.4) 11 % Working Capital Changes ($2.7) $4.4 (161 %) Cash used by Operating Activities ($24.4) ($20.0) (22 %) Cash and cash equivalents $576.7 $720.7 (20 %) For a more detailed discussion of Ballard Power Systems' first quarter 2025 results, please see the company's financial statements and management's discussion & analysis, which are available at and Conference Call Ballard will hold a conference call on Tuesday May 6, 2025 at 8:00 a.m. Pacific Time ( 11:00 a.m. Eastern Time ) to review first quarter 2025 operating results. The live call can be accessed by dialing +1-844-763-8274 ( Canada /US toll free). Alternatively, a live audio and webcast can be accessed through a link on Ballard's homepage ( Following the call, the audio webcast and presentation materials will be archived in the 'Earnings, Interviews & Presentations' area of the 'Investors' section of Ballard's website ( About Ballard Power Systems Ballard Power Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to deliver fuel cell power for a sustainable planet. Ballard zero- emission PEM fuel cells are enabling electrification of mobility, including buses, commercial trucks, trains, marine vessels, and stationary power. To learn more about Ballard, please visit Important Cautions Regarding Forward-Looking Statements Some of the statements contained in this release are forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, and forward-looking information within the meaning of Canadian securities laws, such as statements concerning the markets for our products, Order Backlog, expected revenues, gross margins, operating expenses, capital expenditures, corporate development activities, and impacts of investments in manufacturing and R&D capabilities and cost reduction initiatives. These forward-looking statements reflect Ballard's current expectations as contemplated under section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Since forward-looking statements are not statements of historical fact and address future events, conditions and expectations, forward-looking statements by their nature inherently involve unknown risks, uncertainties, assumptions and other factors well beyond Ballard's ability to control or predict. Actual events, results and developments may differ materially from those contemplated by such forward-looking statements. Any such statements are based on Ballard's assumptions relating to its financial forecasts and expectations regarding its product development efforts, manufacturing capacity, market demand and financing needs. For a detailed discussion of the factors and assumptions that these statements are based upon, and factors that could cause our actual results or outcomes to differ materially, please refer to Ballard's most recent management discussion & analysis. Other risks and uncertainties that may cause Ballard's actual results to be materially different include general economic and regulatory changes, detrimental reliance on third parties, level of achievement of our business plans, achieving and sustaining profitability, changes that affect how long our cash reserves will last and the timing of, and ability to obtain, required regulatory approvals. For a detailed discussion of these and other risk factors that could affect Ballard's future performance, please refer to Ballard's most recent Annual Information Form. These forward-looking statements represent Ballard's views as of the date of this release. There can be no assurance that forward-looking statements will prove to be accurate, as actual events and future events could differ materially from those anticipated in such statements. These forward-looking statements are provided to enable external stakeholders to understand Ballard's expectations as at the date of this release and may not be appropriate for other purposes. Readers should not place undue reliance on these statements and Ballard assumes no obligation to update or release any revisions to them, other than as required under applicable legislation. Further Information Sumit Kundu – Manager, Investor Relations & Finance +1.604.453.3517 or investors@ Endnotes 1 Note that Cash Operating Costs, EBITDA, and Adjusted EBITDA are non-GAAP measures. Non-GAAP measures do not have any standardized meaning prescribed by GAAP and therefore are unlikely to be comparable to similar measures presented by other companies. Ballard believes that Cash Operating Costs, EBITDA, and Adjusted EBITDA assist investors in assessing Ballard's operating performance. These measures should be used in addition to, and not as a substitute for, net income (loss), cash flows and other measures of financial performance and liquidity reported in accordance with GAAP. For a reconciliation of Cash Operating Costs, EBITDA, and Adjusted EBITDA to the Consolidated Financial Statements, please refer to the tables below. Cash Operating Costs measures total operating expenses excluding stock-based compensation expense, depreciation and amortization, impairment losses or recoveries on trade receivables, restructuring charges, acquisition related costs, the impact of unrealized gains or losses on foreign exchange contracts, and financing charges. EBITDA measures net loss excluding finance expense, income taxes, depreciation of property, plant and equipment, and amortization of intangible assets. Adjusted EBITDA adjusts EBITDA for stock-based compensation expense, transactional gains and losses, acquisition related costs, finance and other income, recovery on settlement of contingent consideration, asset impairment charges, and the impact of unrealized gains or losses on foreign exchange contracts. 2 Total Operating Expenses refer to the measure reported in accordance with IFRS. 3 Capital Expenditure is defined as Additions to property, plant and equipment and Investment in other intangible assets as disclosed in the Consolidated Statements of Cash Flows. 4 We report our results in the single operating segment of Fuel Cell Products and Services. Our Fuel Cell Products and Services segment consists of the sale of PEM fuel cell products and services for a variety of applications including Heavy-Duty Mobility (consisting of bus, truck, rail, and marine applications), Stationary Power, and Emerging and Other Markets (consisting of material handling, off-road, and other applications). Revenues from the delivery of Services, including technology solutions, after sales services and training, are included in each of the respective markets. (Expressed in thousands of U.S. dollars) Three months ended March 31,2025 Cash Operating Costs 2025 2024 $ Change Total Operating Expenses $ 25,452 $ 37,060 $ (11,608) Stock-based compensation expense (1,866) (2,800) 934 Impairment recovery (losses) on trade receivables 1 (1,670) 1,671 Restructuring and related (costs) recovery (228) (30) (198) Impact of unrealized gains (losses) on foreign exchange contracts 437 (485) 922 Depreciation and amortization (583) (2,236) 1,653 Cash Operating Costs $ 23,213 $ 29,839 $ (6,626) (Expressed in thousands of U.S. dollars) Three months ended March 31, EBITDA and Adjusted EBITDA 2025 2024 $ Change Net loss from continuing operations $ (21,036) $ (41,066) $ 20,030 Depreciation and amortization 916 3,382 (2,466) Finance expense 506 431 75 Income taxes (recovery) - 35 (35) EBITDA $ (19,614) $ (37,218) $ 17,604 Stock-based compensation expense 1,866 2,800 (934) Acquisition related costs - - - Finance and other (income) loss (11,501) (2,709) (8,792) Impairment charge on property, plant and equipment 2,223 - 2,223 Gain on sale of property, plant and equipment (70) - (70) Impact of unrealized (gains) losses on foreign exchange contracts (437) $ 485 (922) Adjusted EBITDA $ (27,533) $ (36,642) $ 9,109
