Ballard Power Systems Inc. (NASDAQ:BLDP) Q3 2019 Earnings Conference Call October 31, 2019 11:00 AM ET Company Participants Guy McAree - Director of Investor Relations Randall MacEwen - President and Chief Executive Officer Anthony Guglielmin - Vice President and Chief Financial Officer Conference Call Participants Robert Brown - Lake Street Capital Markets, LLC Jeffrey Osborne - Cowen and Company, LLC Amit Dayal - H.C. Wainwright & Co, LLC Craig Irwin - ROTH Capital Partners, LLC MacMurray Whale - Cormark ...

Ballard Power Systems Inc. (NASDAQ:BLDP) Q2 2019 Earnings Conference Call August 1, 2019 11:00 AM ET Company Participants Guy McAree - Director-IR Randy MacEwen - President and CEO Tony Guglielmin - CFO Conference Call Participants Rob Brown - Lake Street Capital Markets Amit Dayal - H.C. Wainwright Jeff Osborne - Cowen & Company Operator Thank you for standing by. This is the conference operator. Welcome to the Ballard Power Systems Q2 2019 Conference Call. As a reminder, all participants are in listen-onl ...

Financial Data and Key Metrics Changes - Revenue for Q1 2019 was $16 million, a decrease of 20% year-over-year, with Power Products revenue down 49% and Technology Solutions revenue up 25% [25] - Gross margin was 14%, a decline of 19 percentage points from Q1 last year, primarily due to decreased high-margin revenue from MEA shipments to China [26] - Net loss in Q1 was $12 million compared to a net loss of $5.5 million in Q1 last year, with adjusted net loss of $10 million [27] - Cash reserves at the end of Q1 were $165 million, a 214% increase from the same time in 2018, but a 14% decline compared to the end of 2018 [28] Business Line Data and Key Metrics Changes - Within Power Products, Heavy Duty Motive revenue was down 72% or $6.7 million, attributed to a decline in MEA product shipments to China [25] - Technology Solutions revenue increased to $9.7 million, primarily due to the technology transfer program related to the Weichai-Ballard joint venture [25] Market Data and Key Metrics Changes - In 2018, global truck sales were $3.2 million, with heavy-duty truck sales of 2.4 million units, and China accounted for approximately 41% of the global total [10] - The EU has set new CO2 emissions limits for trucks, aiming for a 15% reduction by 2025 and 30% by 2030, which is expected to drive investment in zero-emission technologies [11] Company Strategy and Development Direction - The company is focused on commercial scaling and profitability, with a strong setup for the latter half of 2019 and growth forecasted into 2020 [7] - The Weichai-Ballard joint venture is expected to become a leading PEM fuel cell platform in China, with a recent $44 million agreement for products and services [15] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term outlook for the fuel cell electric vehicle (FCEV) market, particularly in China, where significant growth is anticipated [15] - The company noted a growing recognition of the limitations of lithium-ion batteries for heavy-duty applications, positioning fuel cells as a compelling alternative [8] Other Important Information - The company plans to establish a Marine Center of Excellence in Denmark to design and manufacture heavy-duty fuel cell modules for the marine industry [19][20] - The company is also expanding its workforce, with plans to hire approximately 120 new employees in 2019 [70] Q&A Session Summary Question: Details on the $44 million contract with the Weichai JV - The contract includes a collection of finished modules, stacks, and MEAs, representing about a third of the 2000 unit commitment [32] Question: Market demand and customer interest in fuel cells - There is significant interest in heavy-duty motive applications, particularly in Europe, with expectations for product announcements in the near future [34] Question: Operational structure of the Denmark facility - The facility will serve as a Marine Center of Excellence, focusing on module assembly and understanding market requirements [36] Question: Revenue guidance and expected cadence for 2019 - Revenue is expected to ramp up sequentially through the year, with Q4 anticipated to be the highest quarter due to the Weichai program [40] Question: Cash position and burn rate - The cash burn for Q1 included a $14 million capital contribution to the Weichai JV, with an expected total burn of around $50 million for the year [42] Question: Interest from global OEMs in fuel cells - There has been a resurgence of interest from major trucking OEMs, driven by the need for zero-emission solutions [50] Question: Testing with Class 8 trucks - The company is conducting field testing with Kenworth at the Port of LA, and is also engaging with UPS for other applications [58]

Ballard Power Systems, Inc. (NASDAQ:BLDP) Q4 2018 Earnings Conference Call March 7, 2019 11:00 AM ET Company Participants Tony Guglielmin - Chief Financial Officer Randy MacEwen - President & Chief Executive Officer Conference Call Participants Carter Driscoll - B. Riley FBR Rob Brown - Lake Street Capital Markets Christopher Souther - Cowen and Company Amit Dayal - H.C. Wainwright Craig Irwin - Roth Capital Partners Operator Thank you for standing by. This is the conference operator. Welcome to the Ballard ...