Ballard expects 2026 revenue to be back-half weighted
Company guides 2026 total operating expense at $65-$75 mln
Company guides 2026 capital expenditure at $5-$10 mln
Overview
Canada fuel cell maker's Q2 revenue rose 15% yr/yr but missed analyst expectations
Gross margin improved to 20%, driven by cost reductions and higher-margin service revenues
Company agreed to acquire GeoPura Limited for £275 mln, aiming to expand service offerings
Result drivers and key details
COST REDUCTIONS - Co said gross margin improvement was driven by product cost reduction initiatives and lower manufacturing overhead costs following a global restructuring
SERVICE REVENUE MIX - Shift to higher-margin service revenues contributed to margin gains, according to CEO Marty Neese
WARRANTY PROVISION REVERSALS - Improved product durability and reliability allowed for reversals of warranty provisions, further lifting margins
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