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Sep 30, 2023
Bloom Energy Q3 2023 Earnings Report
Reported record revenue driven by growth in product and service revenue.
Key Takeaways
Bloom Energy reported a strong third quarter with record revenue of $400.3 million, a 37% increase compared to the third quarter of 2022. The company saw expanding margins and made significant progress in reducing costs while continuing to invest and innovate.
Revenue reached $400.3 million, a 36.9% increase compared to Q3 2022.
Product and Service revenue increased by 40.7% to $352.5 million compared to Q3 2022.
Non-GAAP gross margin was 31.6%, a 12.4 percentage point increase compared to Q3 2022.
Non-GAAP operating profit improved by $80.3 million compared to Q3 2022, reaching $51.8 million.
Bloom Energy
Bloom Energy
Bloom Energy Revenue by Segment
Forward Guidance
Bloom reaffirms outlook for the full-year 2023:
Positive Outlook
- Revenue, billion: $1.4 - $1.5
- Product & Service Revenue, billion: $1.25 - $1.35
- Non-GAAP Gross Margin: ~25%
- Non-GAAP Operating Margin: Positive
Revenue & Expenses
Visualization of income flow from segment revenue to net income