Ballard Power Systems Inc. BLDP-T saw its first-quarter loss deepen compared to a year ago as its revenue rose 9 per cent.
The Vancouver-based fuel cell maker, which keeps its books in U.S. dollars, says its loss from continuing operations amounted to US$41.1-million or 14 cents US a share for the quarter ended March 31.
The result compared with a loss of US$32.4-million or 11 cents US a share in the same quarter last year.
Revenue totalled US$14.5-million, up from US$13.2-million in the first quarter of 2023.
Ballard says its heavy-duty mobility revenue totalled US$10.6-million, up from US$8.6-million a year ago as strength in its bus business was offset by weaker revenue in its rail and marine business.
Stationary revenue of US$3.7-million was up from US$2.5-million in the same quarter last year, while emerging and other markets revenue totalled US$200,000, down from US$2.1-million a year ago.