Ballard Reports Q2 2026 Results

VANCOUVER, BC, July 31, 2026 /PRNewswire/ -- BallardPowerSystems (NASDAQ: BLDP) (TSX: BLDP) today announced consolidated financial results for the second quarter ended June 30, 2026. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with International Financial Reporting Standards(IFRS).

* Revenue of $21 million, up 15% year-over-year. * Achieved 20% Gross Margin, an increase of 28-points year-over-year. * Entered into a definitive agreement to acquire GeoPura Limited for £275 million in upfront consideration, subject to customary closing conditions and regulatory approvals. * Acquisition is expected to close later in the year and would establish Ballard as an energy-as-a-service provider. * Order intake of $64 million strengthened the Company's order backlog to $157 million. * Ended Q2 2026 with $502 million in cash and cash equivalents, compared with $550 million at the end of Q2 2025. "This quarter marks a transformative milestone for Ballard, highlighted by our announced agreement to acquire GeoPura," said Marty Neese, Ballard's President and CEO. "The acquisition is anticipated to represent a significant step forward in our strategy by combining Ballard's industry-leading fuel cell technology with GeoPura's proven energy-as-a-service and hydrogen genset leasing model. Beyond expanding our market opportunities, we expect the transaction to strengthen our revenue visibility and increase our exposure to recurring service-based revenues in the growing market for competitive off-grid alternative power gensets. Following the forecasted acquisition completion, the realization of strategic and commercial benefits are expected to support our objective of achieving profitability by the end of 2027."