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Mar 31, 2023
Bloom Energy Q1 2023 Earnings Report
Reported record revenue driven by product and service revenue growth, and supported by an improvement in operating margin.
Key Takeaways
Bloom Energy reported a strong start to 2023 with record first quarter revenue of $275.2 million, a 36.9% increase compared to the first quarter of 2022. The company's gross margin increased to 19.7%, and non-GAAP gross margin reached 21.2%.
Revenue of $275.2 million, up 36.9% year-over-year.
Product and Service revenue of $234.4 million, up 38.9% year-over-year.
Gross margin increased by 5.8 percentage points to 19.7%.
Non-GAAP gross margin increased by 5.4 percentage points to 21.2%.
Bloom Energy
Bloom Energy
Bloom Energy Revenue by Segment
Revenue by Segment
Product Revenue
CapyFin.comInstallation Revenue
CapyFin.comService Revenue
CapyFin.comElectricity Revenue
CapyFin.com Forward Guidance
Bloom reaffirms outlook for the full-year 2023:
Positive Outlook
- Revenue: $1.4 - $1.5 billion
- Product & Service Revenue: $1.25 - $1.35 billion
- Non-GAAP Gross Margin: ~25%
- Non-GAAP Operating Margin: Positive
Revenue & Expenses
Visualization of income flow from segment revenue to net income