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Side-by-side financial comparison of Ballard Power Systems Inc. (BLDP) and Cellectis S.A. (CLLS). Click either name above to swap in a different company.
Ballard Power Systems Inc. is the larger business by last-quarter revenue ($17.7M vs $9.5M, roughly 1.9× Cellectis S.A.). Ballard Power Systems Inc. runs the higher net margin — 994.4% vs -265.9%, a 1260.3% gap on every dollar of revenue.
Ballard Power Systems Inc. is a developer and manufacturer of proton exchange membrane (PEM) fuel cell products for markets such as heavy-duty motive, portable power, material handling as well as engineering services. Ballard has designed and shipped over 400 MW of fuel cell products to date.
Cellectis is a French biopharmaceutical company. It develops genome-edited chimeric antigen receptor T-cell technologies for cancer immunotherapy. It has offices in Paris, New York City, and Raleigh, North Carolina.
BLDP vs CLLS — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2024
| Metric | | |
|---|---|---|
| Revenue | $17.7M | $9.5M |
| Net Profit | $176.5M | $-25.3M |
| Gross Margin | — | — |
| Operating Margin | — | -181.1% |
| Net Margin | 994.4% | -265.9% |
| Revenue YoY | — | 375.0% |
| Net Profit YoY | — | -51.9% |
| EPS (diluted) | — | $-0.28 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q3 25 | $17.7M | — | ||
| Q3 24 | $-12.3M | — | ||
| Q2 24 | — | $9.5M | ||
| Q3 23 | — | $1.6M | ||
| Q2 23 | — | $2.0M | ||
| Q2 22 | — | $2.7M | ||
| Q1 22 | $3.4M | — |
| Q3 25 | $176.5M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $-25.3M | ||
| Q3 23 | — | $-17.5M | ||
| Q2 23 | — | $-16.6M | ||
| Q2 22 | — | $-19.5M | ||
| Q1 22 | $-22.6M | — |
| Q3 25 | — | — | ||
| Q3 24 | 156.5% | — | ||
| Q2 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | 97.3% | ||
| Q2 22 | — | 87.9% | ||
| Q1 22 | — | — |
| Q3 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -181.1% | ||
| Q3 23 | — | -1258.1% | ||
| Q2 23 | — | -1180.5% | ||
| Q2 22 | — | -1003.0% | ||
| Q1 22 | — | — |
| Q3 25 | 994.4% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -265.9% | ||
| Q3 23 | — | -1064.1% | ||
| Q2 23 | — | -831.6% | ||
| Q2 22 | — | -714.4% | ||
| Q1 22 | -659.1% | — |
| Q3 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $-0.28 | ||
| Q3 23 | — | $-0.31 | ||
| Q2 23 | — | $-0.20 | ||
| Q2 22 | — | $-0.42 | ||
| Q1 22 | — | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $149.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $148.6M |
| Total Assets | — | $407.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $149.0M | ||
| Q3 23 | — | — | ||
| Q2 23 | — | $84.4M | ||
| Q2 22 | — | $129.4M | ||
| Q1 22 | — | — |
| Q3 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $148.6M | ||
| Q3 23 | — | $76.1M | ||
| Q2 23 | — | $96.6M | ||
| Q2 22 | — | $180.5M | ||
| Q1 22 | — | — |
| Q3 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $407.1M | ||
| Q3 23 | — | $209.7M | ||
| Q2 23 | — | $227.7M | ||
| Q2 22 | — | $320.9M | ||
| Q1 22 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $5.7M | $28.9M |
| Free Cash FlowOCF − Capex | — | $27.6M |
| FCF MarginFCF / Revenue | — | 290.5% |
| Capex IntensityCapex / Revenue | — | 13.2% |
| Cash ConversionOCF / Net Profit | 0.03× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $5.7M | — | ||
| Q3 24 | $-6.6M | — | ||
| Q2 24 | — | $28.9M | ||
| Q3 23 | — | — | ||
| Q2 23 | — | $-47.4M | ||
| Q2 22 | — | $-60.2M | ||
| Q1 22 | $-26.0K | — |
| Q3 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $27.6M | ||
| Q3 23 | — | — | ||
| Q2 23 | — | $-47.9M | ||
| Q2 22 | — | $-61.7M | ||
| Q1 22 | — | — |
| Q3 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 290.5% | ||
| Q3 23 | — | — | ||
| Q2 23 | — | -2391.4% | ||
| Q2 22 | — | -2266.7% | ||
| Q1 22 | — | — |
| Q3 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 13.2% | ||
| Q3 23 | — | — | ||
| Q2 23 | — | 24.1% | ||
| Q2 22 | — | 56.6% | ||
| Q1 22 | — | — |
| Q3 25 | 0.03× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — | ||
| Q1 22 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
