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Sep 30, 2024
Bloom Energy Q3 2024 Earnings Report
Bloom Energy's financial performance decreased year-over-year but showed improvements in gross and operating margins compared to the previous year. The company reaffirmed its 2024 financial guidance and announced a major fuel cell installation project.
Key Takeaways
Bloom Energy reported a revenue of $330.4 million for Q3 2024, a 17.5% decrease year-over-year. Despite the revenue decline, the company improved its gross margin to 23.8% and operating loss to $9.7 million. Bloom Energy reaffirmed its full-year 2024 financial guidance and announced what is expected to be the world’s largest single site fuel cell installation.
Revenue for Q3 2024 was $330.4 million, a 17.5% decrease year-over-year.
Gross margin increased to 23.8%, a 25.1 percentage points increase year-over-year.
Operating loss improved to $9.7 million, a $94.1 million improvement year-over-year.
Announced partnership with SK Eternix for the world’s largest fuel cell power system, expected to be operational in 2025.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Bloom Energy reaffirms outlook for the full-year 2024:
Positive Outlook
- Revenue: $1.4 - $1.6B
- Non-GAAP Gross Margin: ~28%
- Non-GAAP Operating Income: $75 - $100M
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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