Ballard’s Q4 Revenue Falls 48% YoY to $24.5 Million, Misses Expectations
All the segments saw a decline in revenue, reflecting broader industry challenges
March 20, 2025
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Fuel cell manufacturer Ballard Power Systems reported a revenue of $24.5 million, a 48% year-over-year (YoY) decline, in the fourth quarter (Q4) of 2024, reaching $24.5 million. The revenue missed analyst expectations by $4.05 million. All business segments reported declining revenues, reflecting broader industry challenges, including prolonged policy uncertainty and funding constraints.
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Arjun Joshi
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