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Side-by-side financial comparison of Ballard Power Systems Inc. (BLDP) and LENZ Therapeutics, Inc. (LENZ). 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 $12.5M, roughly 1.4× LENZ Therapeutics, Inc.). Ballard Power Systems Inc. runs the higher net margin — 994.4% vs -133.6%, a 1128.0% 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.
LENZ Therapeutics, Inc. is a clinical-stage biopharmaceutical firm dedicated to developing novel ophthalmic therapies. Its lead product candidates address presbyopia, the age-related loss of near vision, catering to global patient groups with unmet medical needs in the eye care sector.
BLDP vs LENZ — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $17.7M | $12.5M |
| Net Profit | $176.5M | $-16.7M |
| Gross Margin | — | — |
| Operating Margin | — | -151.1% |
| Net Margin | 994.4% | -133.6% |
| Revenue YoY | — | — |
| Net Profit YoY | — | -63.5% |
| EPS (diluted) | — | $-0.59 |
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 | $12.5M | ||
| Q2 25 | — | $5.0M | ||
| Q3 24 | $-12.3M | $0 | ||
| Q2 24 | — | $0 | ||
| Q1 22 | $3.4M | — |
| Q3 25 | $176.5M | $-16.7M | ||
| Q2 25 | — | $-14.9M | ||
| Q3 24 | — | $-10.2M | ||
| Q2 24 | — | $-10.3M | ||
| Q1 22 | $-22.6M | — |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q3 24 | 156.5% | — | ||
| Q2 24 | — | — | ||
| Q1 22 | — | — |
| Q3 25 | — | -151.1% | ||
| Q2 25 | — | -337.1% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 22 | — | — |
| Q3 25 | 994.4% | -133.6% | ||
| Q2 25 | — | -298.2% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 22 | -659.1% | — |
| Q3 25 | — | $-0.59 | ||
| Q2 25 | — | $-0.53 | ||
| Q3 24 | — | $-0.38 | ||
| Q2 24 | — | $-0.40 | ||
| 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 | — | $25.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $193.9M |
| Total Assets | — | $210.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $25.4M | ||
| Q2 25 | — | $37.6M | ||
| Q3 24 | — | $41.0M | ||
| Q2 24 | — | $84.0M | ||
| Q1 22 | — | — |
| Q3 25 | — | $193.9M | ||
| Q2 25 | — | $206.4M | ||
| Q3 24 | — | $215.3M | ||
| Q2 24 | — | $192.9M | ||
| Q1 22 | — | — |
| Q3 25 | — | $210.7M | ||
| Q2 25 | — | $217.3M | ||
| Q3 24 | — | $224.0M | ||
| Q2 24 | — | $202.6M | ||
| 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 | $-8.6M |
| Free Cash FlowOCF − Capex | — | $-9.0M |
| FCF MarginFCF / Revenue | — | -72.2% |
| Capex IntensityCapex / Revenue | — | 3.5% |
| Cash ConversionOCF / Net Profit | 0.03× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-47.5M |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $5.7M | $-8.6M | ||
| Q2 25 | — | $-11.5M | ||
| Q3 24 | $-6.6M | $-10.6M | ||
| Q2 24 | — | $-15.8M | ||
| Q1 22 | $-26.0K | — |
| Q3 25 | — | $-9.0M | ||
| Q2 25 | — | $-11.7M | ||
| Q3 24 | — | $-10.8M | ||
| Q2 24 | — | $-15.9M | ||
| Q1 22 | — | — |
| Q3 25 | — | -72.2% | ||
| Q2 25 | — | -235.0% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 22 | — | — |
| Q3 25 | — | 3.5% | ||
| Q2 25 | — | 4.8% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 22 | — | — |
| Q3 25 | 0.03× | — | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 22 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
