Today, Ballard Power Systems Inc . (NASDAQ:BLDP), a leader in the electrical industrial apparatus sector with a market capitalization of $367 million, reported its financial results for the fourth quarter of 2024. The company, headquartered in Burnaby, Canada, filed the report in accordance with SEC regulations. InvestingPro data shows the stock has declined nearly 56% over the past year, though analysis suggests it may be undervalued at current levels.
The news release dated March 13, 2025, included in the Form 6-K filing, detailed the company’s performance for the quarter, providing key financial metrics to shareholders and the public. According to InvestingPro analysis, the company maintains strong liquidity with a current ratio of 9.01, though it faces challenges with negative gross margins of -31.45%. Subscribers to InvestingPro can access 15+ additional key insights and detailed financial metrics in the comprehensive Pro Research Report. Ballard Power Systems (TSX:BLDP), which operates under the organization name 04 Manufacturing, has its fiscal year end on December 31.
The filing indicated that Ballard Power Systems Inc. remains compliant with the requirements of the Securities Exchange Act of 1934. As per the filing, the company will file annual reports under the cover of Form 40-F, which is used by certain Canadian issuers that are permitted to file their annual report in accordance with Canadian disclosure requirements. The company maintains a conservative financial structure with a low debt-to-equity ratio of 0.04, demonstrating strong balance sheet management despite challenging market conditions.
The Chief Financial Officer of Ballard Power Systems Inc., Kate Igbalode, signed the report, ensuring the company’s responsibility for the accuracy and timeliness of the filing.
Investors and market watchers rely on such filings for an unbiased and factual understanding of a company’s financial health. The 6-K form is a report of foreign private issuers under the SEC Act that provides current information to the Securities and Exchange Commission. This particular form is used instead of the more comprehensive 10-K report that is required from U.S. domestic companies.
The information provided in the Form 6-K is based on the company’s news release and is intended to give investors insight into Ballard Power Systems’ operations and financial status for the last quarter of 2024. The company’s shares are traded on the NASDAQ, where investors can track the performance of their investments.
Ballard Power Systems Inc.’s filing is a routine part of corporate transparency and regulatory compliance, providing the market with relevant data to assess the company’s recent financial developments.
In other recent news, Ballard Power Systems reported its fourth-quarter earnings, with an adjusted loss of $0.16 per share, which was $0.03 worse than analyst estimates. The company achieved a revenue of $24.5 million, falling short of the consensus forecast of $29.54 million. Despite the revenue miss, Ballard’s gross margin improved to -13%, a 9 percentage point increase from the previous year, although it remains negative. The company also managed to reduce its cash operating costs by 6% year-over-year to $27.2 million. For the full year 2024, Ballard’s revenue was $69.7 million, marking a 32% decrease from 2023, but its bus segment experienced 51% revenue growth. CEO Randy MacEwen highlighted challenges in the hydrogen and fuel cell industry, such as policy uncertainty and project delays, but noted new orders totaling $113 million for 2024. Looking forward, Ballard expects revenue for 2025 to be more concentrated in the latter half of the year and has guided for total operating expenses between $100 million and $120 million. The company concluded 2024 with $603.9 million in cash and no debt.
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