WPRT on Nasdaq

Westport Fuel Systems

Canadian multinational vehicle drivetrain manufacturer

Westport Fuel Systems Inc. (formerly Westport Innovations Inc.) is a Canadian company that develops alternative fuel, low-emissions technologies to allow engines to operate on clean-burning fuels such as compressed natural gas (CNG), liquefied natural gas (LNG), hydrogen and biofuels such as landfill gas.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 19, 2026.

Overview

$23.3MRevenue, fiscal 20254
-$61.6MNet income, fiscal 20254
Mar 20, 1995Founded1

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  • TickerWPRT on Nasdaq1
  • Industryautomotive supplier1
  • HeadquartersVancouver1
  • Founded inVancouver1
  • Websitewww.wfsinc.com
  • Legal formpublic company1
  • Listed onNasdaq (WPRT), Toronto Stock Exchange (WPRT)1
  • Incorporated inAlberta, Canada5
  • Business address1691 West 75Th Avenue, Vancouver5
  • Filer categoryNon-accelerated filer5

Westport Fuel Systems Inc. (formerly Westport Innovations Inc.) is a Canadian company that develops alternative fuel, low-emissions technologies to allow engines to operate on clean-burning fuels such as compressed natural gas (CNG), liquefied natural gas (LNG), hydrogen and biofuels such as landfill gas.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

11.5%Gross margin4
-61.0%Operating margin4
-264.3%Net margin4
-42.7%Revenue growth, 20254
-89.6%Return on equity4

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Heavy-Duty OEM brought in 65% of the revenue Westport Fuel Systems broke down this way in fiscal 2025.

  1. Heavy-Duty OEM$15.0M465%down 52% from 2024
  2. High-Pressure Controls & Systems$8.3M435%down 12% from 2024
Business segments by year
Business segments202320242025
Heavy-Duty OEM$56.2M$31.3M$15.0M
High-Pressure Controls & Systems$11.9M$9.4M$8.3M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue78¢$20.6M
  • Research and development22¢$5.8M
  • Income tax1¢$143.0K

Out of $23.3M in revenue.4 The company lost money this year.

Financial statements

Revenue78910114$23.3M in 2025−91% since 2018
0$100.0M$200.0M$300.0M$400.0M2018: $270.3M$270.3M20182019: $305.3M$305.3M2019+13%2020: $252.5M$252.5M2020−17%2021: $312.4M$312.4M2021+24%2022: $305.7M$305.7M2022−2%2023: $68.2M$68.2M2023−78%2024: $40.7M$40.7M2024−40%2025: $23.3M$23.3M2025−43%
Gross profit4$2.7M in 2025+644% since 2023
0$1.0M$2.0M$3.0M2023: $360.0K$360.0K20232024: $2.8M$2.8M2024+690%2025: $2.7M$2.7M2025−6%
Operating income78910114-$14.2M in 2025−73% since 2018
-$60.0M-$40.0M-$20.0M02018: -$52.7M-$52.7M20182019: -$21.4M-$21.4M2019−59%2020: -$22.0M-$22.0M2020+3%2021: -$30.5M-$30.5M2021+39%2022: -$50.3M-$50.3M2022+65%2023: -$45.6M-$45.6M2023−9%2024: -$37.7M-$37.7M2024−17%2025: -$14.2M-$14.2M2025−62%
Net income78910114-$61.6M in 2025+96% since 2018
-$80.0M-$60.0M-$40.0M-$20.0M0$20.0M2018: -$31.5M-$31.5M20182019: $41.0K$41.0K20192020: -$7.4M-$7.4M20202021: $13.7M$13.7M20212022: -$32.7M-$32.7M20222023: -$49.7M-$49.7M2023+52%2024: -$21.8M-$21.8M2024−56%2025: -$61.6M-$61.6M2025+182%

Every line of the income statement as filed: the last 3 fiscal years, latest first.4

Period ending2025-12-312024-12-312023-12-31
Revenue$23.3M$40.7M$68.2M
Cost of revenue$20.6M$37.9M$67.8M
Gross profit (loss)$2.7M$2.8M$360.0K
Research and development$5.8M$9.5M$12.8M
General and administrative$14.0M$20.7M$25.1M
Sales and marketing$1.5M$2.7M$5.8M
Foreign exchange loss (gain)-$5.4M$6.2M$1.0M
Depreciation and amortization (note 9)$515.0K$661.0K$1.2M
Loss on sale of assets$0$703.0K$0
Impairment of long-lived assets (note 9)$538.0K$0$0
Cost of revenue and expenses$16.9M$40.6M$46.0M
Loss from continuing operations-$14.2M-$37.7M-$45.6M
Loss from investments accounted for by the equity method (notes 8 and 17)-$15.8M-$6.7M$0
Gain on deconsolidation$0$15.2M$0
Loss on sale of investment$0-$352.0K$0
Loss on extinguishment of royalty payable$0$0-$2.9M
Interest on long-term debt and accretion of royalty payable-$613.0K-$1.1M-$1.7M
Impairment of long-term investment$0$0-$413.0K
Interest and other income, net of bank charges$1.3M-$88.0K$2.6M
Loss before income taxes-$29.4M-$30.8M-$48.1M
Current$143.0K$481.0K$344.0K
Deferred$0$35.0K-$17.0K
Income tax expense (recovery)$143.0K$516.0K$327.0K
Net loss from continuing operations-$29.6M-$31.3M-$48.4M
Net income (loss) from discontinued operations (note 5)-$32.1M$9.4M-$1.3M
Net loss for the year-$61.6M-$21.8M-$49.7M
Cumulative translation adjustment$4.9M-$2.5M$4.5M
Reclassification of accumulated foreign currency translation on deconsolidation-$10.1M$0$0
Ownership share of equity method investments' other comprehensive loss-$1.9M-$113.0K$0
Other comprehensive income (loss)-$7.1M-$2.6M$4.5M
Comprehensive loss-$68.7M-$24.5M-$45.2M
From continuing operations - basic (in dollars per share)-$2-$2-$3
From continuing operations - diluted (in dollars per share)-$2-$2-$3
From discontinued operations - basic (in dollars per share)-$2$1-$0
From discontinued operations - diluted (in dollars per share)-$2$1-$0
Net loss per share, basic (in dollars per share)-$3.56-$1.26-$2.90
Net loss per share, diluted (in dollars per share)-$3.56-$1.26-$2.90
Basic (in shares)17.3M shares17.2M shares17.2M shares
Diluted (in shares)17.3M shares17.2M shares17.2M shares

Compare Westport Fuel Systems with another company

The story

In the early 1980s Philip Hill, then a University of British Columbia mechanical engineering professor, sought improvements to natural gas combustion in engines. Hill's team of graduate students and research engineers focused on natural gas as a fuel in diesel engines to reduce emissions of nitrogen oxides (NOx) and harmful atmospheric particulate matter. At the same time, he wanted to preserve the performance, fuel economy, durability and reliability characteristics of the traditional diesel engine.

With funding limited and finding few suitable commercial components or testing equipment, Hill and his team designed and fabricated their own components and equipment. The theoretical results they obtained from their research and experimentation was a significant factor in the later development of Westport.

By injecting a small amount of diesel fuel before a main, high-pressure, direct injection (HPDI) of natural gas to start the combustion, Hill was able to successfully retain important characteristics of the diesel engine.

In 1994, through UBC's University-Industry Liaison Office, Hill met David Demers, who later became Westport's CEO.

In 1995 the two founded Westport Innovations to capitalize on the HPDI technology.

In 2016 Westport Innovations merged with the American Fuel Systems Solutions and renamed Westport Fuel Systems.

Milestones

2001: Westport and Cummins formed a joint venture, Cummins Westport Inc, which now offers medium-duty natural gas vehicle engines from 150 to over 400 horsepower. Now used in over 60 OEM vehicles, over 30,000 of the engines have sold worldwide.

2005: Westport and Beijing Tianhai Industry Co. Ltd. began a relationship which led to forming a joint venture—BTIC Westport Inc.—to develop and market natural gas tanks for transportation.

Read the full text

2006: Westport HD Engine and LNG Fuel System for heavy-duty trucking applications was launched. The HPDI technology is based on the 15-litre Cummins ISX but is adaptable to other OEM engines as well.

2008: Westport formed a joint venture with Weichai Power, China's largest heavy-duty engine manufacturer, and Hong Kong Peterson (CNG) Equipment Ltd. Today Weichai Westport Inc. manufactures and sells alternative-fuel engines for automobiles, heavy-duty trucks, power generation and shipping applications. Westport listed on the NASDAQ Stock Market in 2008 as WPRT, while continuing to trade under WPT on the Toronto Stock Exchange.

2009: Westport and Volvo committed to a supply agreement for Westport natural gas fuel systems for commercializing Volvo heavy-duty applications.

2010: Juniper Engines Inc. (now Westport Light Duty Inc.) became a wholly owned subsidiary of Westport as a result of the acquisition of OMVL SpA in July 2010 and OMVL's 51% share of Juniper. Westport LD now offers natural gas and liquefied petroleum gas engines and fuel systems for the OEM light-duty automotive and industrial market.

2011: Westport acquired Emer SpA, a fuel system and components manufacturer, and AFV, a Swedish bi-fuel engine manufacturer and supplier of alternative fuel systems for Volvo Cars.

In April, 2013 Cummins using technology developed by Westport Innovations began shipping large natural gas fueled engines to truck manufacturers in the United States as trucking companies began converting portions of their fleets to natural gas and the natural gas distribution network in the United States began to expand.

From Wikipedia’s article on Westport Fuel Systems, shared under CC BY-SA 4.0.6

Leadership

Who has led Westport Fuel Systems, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (2)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive Officer, DirectorDaniel E. Sceli named Sep 29, 202616
  • Executive OfficerElizabeth E. Owens named Sep 29, 202616
  • Executive OfficerLance J. Follett named Sep 29, 202616
  • DirectorAnthony J. Guglielmin named Sep 29, 202616
  • DirectorBradley E. Kotush named Sep 29, 202616
  • DirectorKarl-Viktor J. Schaller named Sep 29, 202616
  • DirectorMichele J. Buchignani named Sep 29, 202616

Products and brands

  • automotive part

Listed on Wikidata.1

Subsidiaries and ownership

Subsidiaries

From Wikidata.1

Acquisitions

  1. 2016Acquired BRC Gas Equipment1
  2. Succeeded Fuel Systems Solutions1

Former names

  • WESTPORT INNOVATIONS INCJun 27, 2006 to Jun 1, 20165

Timeline

  1. 2016Went public Listed on Toronto Stock Exchange1
  2. 2016Renamed Name changed to Westport Fuel Systems Inc.1
  3. 2008Went public Listed on NASDAQ1
  4. Mar 20, 1995Founded Founded in Vancouver1
  5. 1995Went public Listed on Toronto Stock Exchange1

Filings

187 filings to the SEC since October 2021: 5 annual reports, 10 large holders, 1 private raises, 171 other. The latest 20:

  1. Oct 15, 20266-K EDGAR
  2. Sep 29, 2026D EDGAR
  3. Sep 28, 2026424B3 EDGAR
  4. Sep 25, 2026EFFECT EDGAR
  5. Sep 18, 2026F-1 EDGAR
  6. Sep 16, 2026424B3 EDGAR
  7. Sep 16, 20266-K EDGAR
  8. Sep 15, 20266-K EDGAR
  9. Aug 26, 2026EFFECT EDGAR
  10. Aug 20, 2026POS AM EDGAR
  11. Aug 12, 20266-K EDGAR
  12. Aug 11, 20266-K EDGAR
  13. Jul 29, 20266-K EDGAR
  14. Jul 27, 2026EFFECT EDGAR
  15. Jul 22, 2026SCHEDULE 13G EDGAR
  16. Jul 21, 2026F-1 EDGAR
  17. Jul 15, 20266-K EDGAR
  18. Jul 2, 20266-K EDGAR
  19. Jun 29, 2026SCHEDULE 13G EDGAR
  20. Jun 23, 20266-K EDGAR

The 187 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Sep 29, 2026Filed a private offering of equity Form D: $25 million offered in all Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 42. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Heights Capital Management, Inc1,325,121$3.0M0.7%New
Royce & Associates LP1,131,479$2.6M0.0%+639,577
Grace & White Inc /ny714,106$1.6M0.3%−292,602
Baird Financial Group, Inc.140,024$316.5K0.0%−23,874
Citadel Advisors LLC89,959$203.3K0.0%−64,946
Us Bancorp \de\73,108$165.2K0.0%−93,721
Goldman Sachs Group Inc31,647$71.5K0.0%−6,598
UBS Group AG19,316$43.7K0.0%+2,898
Susquehanna International Group, Llp18,017$40.7K0.0%New
TD Waterhouse Canada Inc.18,114$38.3K0.0%No change
Jane Street Group, LLC13,933$31.5K0.0%−1,260
LPL Financial LLC11,280$25.5K0.0%+1,254
Royal Bank Of Canada5,978$13.0K0.0%−1,880
Morgan Stanley3,773$8.5K0.0%−288
Tower Research Capital LLC (TRC)2,585$5.8K0.0%−1,100
Group One Trading LLC1,997$4.5K0.0%+1,100
Wells Fargo & Company/mn1,736$3.9K0.0%+295
Simplex Trading, LLC1,604$3.6K0.0%New
Allworth Financial LP1,025$2.3K0.0%No change
SWAN Capital LLC1,000$2.3K0.0%No change
Jones Financial Companies Lllp710$1.8K0.0%No change
Osaic Holdings, Inc.583$1.3K0.0%+100
Ascentis Wealth Management, LLC400$9040.0%No change
HighMark Wealth Management LLC350$7910.0%No change
Federation des caisses Desjardins du Quebec348$7480.0%−1,325

13F reports cover disclosed long positions in U.S. stocks only.