Ballard Power Systems Inc. (BLDP) Q4 2024 Earnings Call Transcript

Ballard Power Systems Inc. (NASDAQ:BLDP) Q4 2024 Earnings Conference Call March 13, 2025 11:00 AM ET

Company Participants

Sumit Kundu - Manager, Investor Relations
Randy MacEwen - Chief Executive Officer
Kate Igbalode - Chief Financial Officer

Conference Call Participants

Rob Brown - Lake Street Capital Markets
Dushyant Ailani - Jefferies
Jordan Levy - Truist
Rupert Merer - National Bank
Martin Malloy - Johnson Rice
Craig Irwin - ROTH Capital Partners
Jeffrey Osborne - TD Cowen

Operator

Thank you for standing by. This is the conference operator. Welcome to the Ballard Power Systems' Fourth Quarter 2024 Results Conference Call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. [Operator Instructions] I would now like to turn the conference over to Sumit Kundu, Manager, Investor Relations. Please go ahead.

Sumit Kundu

Thank you, operator, and good morning. Welcome to Ballard's fourth quarter financial and operating results conference call. With us on today's call are Randy MacEwen, Ballard CEO; and Kate Igbalode, Chief Financial Officer.

We will be making forward-looking statements that are based on management's current expectations, beliefs, and assumptions concerning future events. Actual results could be materially different. Please refer to our newly filed annual information form and other public filings for our complete disclaimer and related information.

I'll now turn the call over to Randy.

Randy MacEwen

Thank you, Sumit, and welcome everyone to today's conference call. 2024 was a difficult year for the hydrogen fuel cell industry. Amidst prolonged policy uncertainty, a multiyear push out in development of hydrogen projects and the deployment of fuel cell applications, in a challenging funding environment, an industry rationalization is underway. Notwithstanding this challenging industry backdrop, Ballard achieved important progress in 2024.

And I want to