Ballard Power Systems Inc. (NASDAQ:BLDP) shares are trading higher after it reported fourth-quarter results.
Revenue fell 48% year-over-year to $24.5 million, missing the analyst consensus estimate of $30.4 million.
Heavy-duty mobility revenue decreased 42% Y/Y to $16.8 million due to lower revenue from truck, rail, and marine verticals, and Stationary fell 46% Y/Y.
Gross margin improved by 9 basis points to (13%) in the quarter, led by reduced impairment adjustments and expiration of warranty obligations.
Total operating expenses for the quarter totaled $33.1 million, a 5% decrease. Adjusted EBITDA loss was $36.0 million, compared to a $44.1 million loss …