Why did Solaris' operating expenses surge in Q4 2024?

Solaris Energy Infrastructure's operating expenses did not surge in Q4 2024. In fact, no data on operating expenses for Q4 2024 was found in the search results. However, according to their financial report for Q3 2024, total operating expenses were $54.9 million, which was 58% higher year-over-year.

Ballard Power Systems, on the other hand, reported a significant increase in operating expenses in Q3 2024, with total operating expenses amounting to $54.9 million, 58% higher than the same period last year. This increase was due to lower revenue, changes in revenue mix, and onerous contracts and inventory provisions, resulting in a gross margin of negative 56%, 45 points lower compared to the same period last year. Despite these challenges, Ballard maintained a strong cash position and remained cautiously optimistic about the future.