Ballard Power Systems Files 6-K Report

Ticker: BLDP · Form: 6-K · Filed: 2024-03-11T00:00:00.000Z

Sentiment: neutral

Topics: sec-filing, 6-k, reporting

TL;DR

Ballard Power Systems filed a routine 6-K, no major news.

AI Summary

Ballard Power Systems Inc. filed a Form 6-K on March 11, 2024, reporting for the month of March 2024. The filing is a report of a foreign private issuer and does not provide specific financial details or operational updates beyond its classification.

Why It Matters

This filing indicates Ballard Power Systems is fulfilling its reporting obligations as a foreign private issuer with the SEC, which is standard procedure for companies listed on US exchanges.

Risk Assessment

Risk Level: low — This is a standard SEC filing for a foreign private issuer and does not contain new material information.

Key Players & Entities

Ballard Power Systems Inc. (company) — Registrant
000-53543 (dollar_amount) — Commission File Number
9000 Glenlyon Parkway Burnaby, BC V5J 5J8 Canada (company) — Address of principal executive office

FAQ

What type of filing is this?

This is a Form 6-K, a Report of Foreign Private Issuer pursuant to Rule 13a-16 or 15d-16 under the Securities Exchange Act of 1934.

Who is the filer?

The filer is Ballard Power Systems Inc.

What is the reporting period?

The report is for the month of March 2024.

What is the Commission File Number?

The Commission File Number is 000-53543.

Where is Ballard Power Systems Inc. located?

Ballard Power Systems Inc.'s principal executive office is located at 9000 Glenlyon Parkway, Burnaby, BC V5J 5J8, Canada.

From the Filing

0001279569-24-000267.txt : 20240311 0001279569-24-000267.hdr.sgml : 20240311 20240311115428 ACCESSION NUMBER: 0001279569-24-000267 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20240311 FILED AS OF DATE: 20240311 DATE AS OF CHANGE: 20240311 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Ballard Power Systems Inc. CENTRAL INDEX KEY: 0001453015 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRICAL INDUSTRIAL APPARATUS [3620] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 000000000 STATE OF INCORPORATION: Z4 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-53543 FILM NUMBER: 24737141 BUSINESS ADDRESS: STREET 1: 9000 GLENLYON PARKWAY CITY: BURNABY STATE: A1 ZIP: V5J 5J8 BUSINESS PHONE: 604-454-0900 MAIL ADDRESS: STREET 1: 9000 GLENLYON PARKWAY CITY: BURNABY STATE: A1 ZIP: V5J 5J8 FORMER COMPANY: FORMER CONFORMED NAME: 7076991 Canada Inc. DATE OF NAME CHANGE: 20090102 6-K 1 ballard6k.htm FORM 6-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of March 2024 Commission File Number: 000-53543 Ballard Power Systems Inc. ——————————————————————————————————— (Translation of registrant’s name into English) 9000 Glenlyon Parkway Burnaby, BC V5J 5J8 Canada ——————————————————————————————————— (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: ☐ Form 20-F ☒ Form 40-F SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Ballard Power Systems Inc. Date: March 11, 2024 By: /s/ Paul Dobson Name: Paul Dobson Title: Chief Financial Officer EXHIBIT INDEX Exhibit No. Description 99.1 News Release Dated March 11, 2024 - Ballard Reports Q4 2023 Results EX-99.1 2 ex991.htm NEWS RELEASE DATED MARCH 11, 2024 Exhibit 99.1 Ballard Reports Q4 2023 Results VANCOUVER, BC, March 11, 2024 /CNW/ - Ballard Power Systems (NASDAQ: BLDP) (TSX: BLDP) today announced consolidated financial results for the fourth quarter ended December 31, 2023. All amounts are in U.S. dollars unless otherwise noted and have been prepared in accordance with International Financial Reporting Standards (IFRS). "Our transition to a commercial products company is gaining momentum, with growing market acceptance of our fuel cell engines across our verticals," said Randy MacEwen, President and CEO. "We shipped a record number of fuel cell engines in the quarter, allowing us to close out the year with Q4 revenue of $46.8 million, up 132% year-over-year. We also booked $64.7 million of new orders in Q4, resulting in a product-based Order Backlog now 15% higher than the same period last year." "Supported by revenue scaling in the quarter, we were able to improve gross margins by eight percentage points compared to the prior year period," said Mr. MacEwen. "Notably, excluding non-cash inventory provisions, underlying gross margin almost achieved breakeven, demonstrating continued success in our product cost reduction initiatives and the impact of operating leverage." "Excluding discontinued operations, revenue in 2023 was $102.4 million, up 25% compared to the prior year, while total megawatts (MW) and number of modules shipped increased by 17% and 37%