Q: Please comment on Bldp.Buy,Hold or Sell.Txs for u usual great services & views
5i Research Answer:
Q4 2025 revenue jumped 37% year-over-year to $33.6M and the stock popped nearly 19% on the results in March, which is a meaningful improvement in the fundamental picture. A 500-engine bus agreement with New Flyer is the largest single order from that partnership to date, and management is projecting a significant revenue ramp in the second half of 2026. The hydrogen thesis has taken a long time to materialize, and profitability is still not in sight, but the operational and price momentum is better than it has been in years. We would hold here and reassess after Q1 2026 results in May before adding.