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Bloom Energy
🇺🇸 NYSE:BE
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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.

Total Revenue
$330M
Previous year: $400M
-17.5%
EPS
-$0.01
Previous year: $0.15
-106.7%
Gross Margin
23.8%
Previous year: -1.3%
-1930.8%
Operating Margin
-2.9%
Previous year: -25.9%
-88.8%
Gross Profit
$78.7M
Previous year: -$5.21M
-1610.0%
Cash and Equivalents
$496M
Previous year: $557M
-11.1%
Free Cash Flow
-$83.8M
Previous year: -$155M
-45.8%
Total Assets
$2.6B
Previous year: $2.38B
+9.6%

Bloom Energy

Bloom Energy

Bloom Energy Revenue by Segment

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

Company Overview

Full financial data and analysis

View Bloom Energy