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Sep 30, 2021
Bloom Energy Q3 2021 Earnings Report
Announced third quarter 2021 financial results with Q3 revenue of $207.2 million, a 3.5% year-over-year increase, and a GAAP gross margin of 17.8%.
Key Takeaways
Bloom Energy reported a revenue of $207.2 million for Q3 2021, representing a 3.5% increase compared to the same period last year. The company's GAAP gross margin was 17.8%. They also launched Bloom Electrolyzer and Hydrogen Energy Server.
Record acceptances of 353 systems in Q3 2021, a 12.4% increase year-over-year.
Q3 2021 revenue reached $207.2 million, up 3.5% from $200.3 million in Q3 2020.
Launched commercial availability of Bloom Electrolyzer and Hydrogen Energy Server starting in 2022.
Expanded strategic partnership with SK ecoplant to accelerate hydrogen commercialization.
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
The press release contains certain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Positive Outlook
- Bloom’s ability to accelerate its growth with its current products and hydrogen electrolyzers around the world
- Bloom’s expectations regarding the success of its strategic partnership with SK ecoplant
- Bloom’s expectations regarding its fuel cell technology platform
- Bloom’s financial outlook for 2021
- timing and development of an ecosystem for the hydrogen market, including in the Korean market
Challenges Ahead
- Bloom’s limited operating history
- the emerging nature of the distributed generation market and rapidly evolving market trends
- the significant losses Bloom has incurred in the past
- the significant upfront costs of Bloom’s Energy Servers and Bloom’s ability to secure financing for its products
- Bloom’s ability to drive cost reductions and to successfully mitigate against potential price increases
Revenue & Expenses
Visualization of income flow from segment revenue to net income