What were the key takeaways from Bloom Energy's earnings call?

What is the revenue and EPS growth rate for Bloom Energy year over year?

Did Bloom Energy beat or miss consensus estimates last quarter?

What is the market's earnings forecast for Bloom Energy next quarter?

What is Bloom Energy's latest dividend and current dividend yield?

What factors drove the changes in Bloom Energy's revenue and profit?

What were the key takeaways from Bloom Energy’s earnings call?

What guidance did Bloom Energy's management provide for the next earnings period?

- **Record Growth**: Q3 2025 revenue of $519M (+57% YoY), 30.4% gross margin, and $59M EBITDA reflect accelerating AI demand.
- **Capacity Expansion**: 2 GW by 2026 to support 4x revenue growth, with no customer bottlenecks.
- **Strategic Wins**: Brookfield ($500M AI partnership), AEP (utility-scale projects), and SK (semiconductor fabs) driving pipeline.
- **Technological Edge**: 800V DC architecture enables 5x power density, 10x reliability, and zero emissions. First project delivered in 55 days.
- **Global Momentum**: Europe/Asia power shortages and Brookfield's $1T AI infrastructure portfolio create $1T+ market opportunity.

**【CEO Summary Section】**
- Bloom Energy reported record revenue for the 4th consecutive quarter, driven by AI buildouts and on-site power demand. Q3 2025 revenue reached $519 million, up 57% YoY.
- The company is on track to double manufacturing capacity to 2 GW by end-2026, supporting 4x 2025 revenue growth. This expansion will ensure no capacity constraints for customers.
- Bloom's fuel cell technology offers 10x more power density than 10 years ago, with zero water consumption and 10x lower emissions. The product cost reduction trend continues at double-digit rates.
- Strategic partnerships include Brookfield (AI infrastructure), AEP (utility-scale projects), and SK (semiconductor fabs). Brookfield committed $500M to co-develop AI factories powered by Bloom.

**【CFO Financial Commentary】**
- Q3 2025 non-GAAP gross margin improved to 30.4% (vs. 25.2% YoY), driven by product cost reductions and manufacturing efficiencies.
- Operating income rose to $46.2 million (vs. $8.1M YoY), with service margins at 14.4% and product margins at 35.9%. Adjusted EBITDA was $59 million (vs. $21M YoY).
- Cash flow from operations was $20 million, with $627 million in total cash. The company expects 2025 results to exceed prior guidance.

**【Q&A Key Highlights】**
- **AI Power Demand**: Hyperscalers require Bloom's 800V DC architecture to power next-gen AI chips, reducing transmission losses and enabling 5x power density. First project delivered in 55 days vs. 90-day target.
- **Global Expansion**: Europe and Asia face power shortages, creating opportunities for Bloom's carbon-neutral fuel cells. Brookfield announced a European AI inference data center to be completed by year-end.
- **Competitive Advantage**: Bloom's solid-state technology outperforms turbines/engine-based solutions in reliability, scalability, and carbon capture. 100% uptime track record vs. 95% industry standard.
- **Capacity Utilization**: 2026 capacity expansion will support 4x 2025 revenue. Factory utilization rates will be disclosed with 2026 guidance.
- **CFO Search**: Process ongoing with urgency, but no timeline disclosed.

Bloom Energy Corporation (BE) Q3 2025 Earnings Call Transcript

- **Record Q2 Growth**: $401M revenue (+19.5% YoY), 28.2% gross margin, 6 straight quarters of service profitability.
- **AI-Speed Deployment**: 90-day Oracle data center power, 2 GW factory expansion to meet hyperscalers' $500B annual CapEx.
- **Strategic Partnerships**: AEP utility partnership, AWS/Coralogix deployments, Oracle hyperscaler deal.
- **Tax Credit Tailwind**: ITC restored for 2026-2032, no customer delays due to safe harbor.
- **Global Expansion**: 30% international revenue, modular skid deployments targeting 40%+ data centers needing islanded power.

**【Management Opening Remarks】**
- Bloom Energy reported record Q2 2025 revenue of $401 million, up 19.5% YoY, driven by partnerships with hyperscalers and utility companies.
- CEO K.R. Sridhar highlighted the company's strategic focus on AI-speed deployment, with a 90-day timeline to power Oracle's AI data center.
- CFO Maciej Kurzymski emphasized financial discipline, citing 6 consecutive quarters of service profitability and $113 million debt refinancing.

**【CEO Commentary】**
- **Strategic Partnerships**: Announced Oracle deal for AI data center power, with AWS and Coralogix deployments through AEP, showcasing Bloom's ability to deliver islanded, load-following power at scale.
- **Production Expansion**: Doubling factory capacity to 2 GW by end-2026, funded by $100 million in existing capital, targeting hyperscalers' $500B annual CapEx spend.
- **Market Leadership**: 22,000+ energy servers deployed, 4.5 trillion data points analyzed via digital twins, enabling continuous product improvement.

**【CFO Financial Commentary】**
- **Revenue Growth**: Q2 2025 revenue $401M (+19.5% YoY), with non-GAAP gross margin 28.2% (vs. 21.8% Q2 2024) due to factory level-loading.
- **Profitability**: Operating income $28.6M (vs. $3.2M loss YoY), adjusted EBITDA $41.2M (vs. $10.2M YoY), EPS $0.10 (vs. -$0.06 YoY).
- **Guidance**: Full-year 2025 revenue $1.65B-$1.85B, non-GAAP gross margin ~29%, operating income $135M-$165M, with 40-60% Q1/Q2 split.

**【Q&A Highlights】**
- **Oracle Deal**: First hyperscaler direct customer, 90-day deployment, islanded power for variable load, potential for CHP retrofit.
- **Production Timeline**: 2 GW capacity by end-2026, expansion at AI-speed, no delays expected.
- **Tax Credits**: ITC restored for 2026-2032, no customer pushouts due to safe harbor provisions.
- **International Growth**: 30% revenue from non-U.S. markets, targeting Taiwan, Germany, Italy, U.K. for modular, skid-mounted deployments.


Bloom Energy Corporation (BE) Q2 2025 Earnings Call Transcript

- **Q1 Revenue Surges**: 39% YoY growth to $326 million, driven by AI data centers and industrial demand.
- **Gross Margin Strength**: 28.7% in Q1, up 1,120bps YoY, with 29% full-year target maintained despite 100bp tariff risk.
- **Service Profitability**: 5 straight quarters of service profitability, underpinned by tech advancements.
- **International Expansion**: Europe (Italy, Germany, UK) and Asia (Taiwan) targeted for rapid growth.
- **Tariff Mitigation**: 100bp impact expected, but cost-cutting culture ensures 2025 guidance integrity.


**【CEO Summary Section】**
- **Record Q1 Revenue**: $326 million, up 39% YoY, driven by strong execution across sales, service, and manufacturing.
- **AI Data Center Growth**: No slowdown observed; customer activity validates super cycle in power infrastructure.
- **Commercial & Industrial Segments**: Robust activity in advanced manufacturing and essential services; consumer-facing businesses may delay decisions amid economic uncertainty.
- **International Expansion**: Korea remains strong, with progress in Europe (Italy, Germany, UK) and Asia (Taiwan).
- **Tariff Mitigation**: Up to 100bp impact on 2025 gross margin, but confident in maintaining 29% guidance through cost reduction initiatives.

**【CFO Financial Commentary】**
- **Q1 Financial Highlights**: 
  - GAAP net income: $420 million; Non-GAAP EPS: $0.03 (vs. -$0.17 YoY).
  - Gross margin: 28.7% (vs. 17.5% YoY), driven by level-loaded manufacturing and favorable product mix.
  - Operating income: $13.2 million (vs. -$30.7 million YoY); EBITDA: $25.2 million (vs. -$18.2 million YoY).
- **Full Year Guidance**: 
  - Revenue: $1.65B-$1.85B; Non-GAAP gross margin: ~29%; Operating income: ~$150 million.
  - Cash flow from operations and CapEx expected to match 2024 levels.
- **Service Profitability**: 5th consecutive quarter of service profitability, supported by technology improvements and AI-driven execution.

**【Q&A Key Takeaways】**
- **Tariff Sensitivity**: 100bp impact assumes current tariff structure; no guidance change despite potential escalation.
- **Supply Chain Resilience**: No China exposure; custom-made components and multi-country sourcing mitigate risks.
- **Utility Partnerships**: Preferred model for large loads; AEP partnership progressing, with regulatory alignment reducing delays.
- **Market Timing**: Customer pipelines remain strong; no material shift in project timelines despite macro uncertainty.
- **Scalability**: Manufacturing level-loading and balance sheet strength support 2025 guidance confidence.


Bloom Energy (BE)-30 Apr 25-2025 Q1 Earnings call transcript

- **Revenue Growth**: Q4 2024 revenue up 60% YoY to $572M, with full-year record of $1.17B. 70% of 2024 revenue came from same-year deals.
- **Service Profitability**: Service business turned profitable every quarter in 2024, with $4M gross profit vs. $33M loss in 2023.
- **AI and Data Center Momentum**: Strong pipeline in AI-driven data centers, with Bloom's modular architecture preferred for reliability and speed.
- **Utility Partnerships**: 100 MW deal with AEP in Ohio, with potential for more utility collaborations leveraging Bloom's rapid deployment capability.
- **Carbon Capture Opportunity**: $12-15B revenue potential from ITC-eligible projects, with CCS pilot launched with Chart Industries.
- **Cost Efficiency**: 12th consecutive year of double-digit product cost reductions, improving both product and service margins.


**【CEO Key Highlights】**
- **Record Revenue and Profitability**: Q4 2024 revenue reached $572 million, up 60% YoY, with full-year revenue of $1.17 billion. Service business achieved positive non-GAAP gross margin every quarter in 2024.
- **Time-to-Power Dominance**: 70% of 2024 revenue came from deals signed and deployed within the same year, driven by urgent customer demand for reliable, on-site power solutions.
- **AI and Data Center Growth**: Strong pipeline in AI-driven data centers, with Bloom's modular, fault-tolerant architecture preferred for reliability and speed. South Korea remains a key market, while expansion in Asia and Europe is underway.
- **Utility Partnerships**: Announced 100 MW deal with AEP in Ohio, with potential for more utility collaborations leveraging Bloom's ability to deploy power in months, not years.
- **Carbon Capture and Heat Solutions**: Launched CCS pilot with Chart Industries, positioning Bloom as a leader in decarbonization. Heat capture solutions are also being developed to enhance value for industrial customers.

**【CFO Financial Summary】**
- **Q4 2024 Financials**: GAAP net income of $420 million, non-GAAP EPS of $0.43. Non-GAAP gross margin improved to 39.3% (vs. 27.4% Q4 2023). Full-year free cash flow turned positive at $92 million.
- **Cost Efficiency**: Double-digit product cost reductions for the 12th consecutive year, benefiting both product and service margins. Service gross profit improved to $4 million (vs. $33M loss in 2023).
- **Backlog and Growth**: $2.5 billion product backlog (excluding SK ecoplant), with $9 billion service backlog. 2025 revenue guidance of $1.65-1.85 billion reflects confidence in maintaining strong growth momentum.

**【Q&A Key Takeaways】**
- **ITC Impact**: Customers can secure 40% ITC nationwide through 2028, with 50% in energy communities. This creates a $12-15 billion revenue opportunity for Bloom.
- **Utility Partnerships**: Multiple utilities exploring arrangements similar to AEP deal, though timing depends on regulatory frameworks.
- **Competitive Position**: Bloom's ability to deploy power in months vs. years for traditional solutions (e.g., gas turbines) gives it a significant advantage in the AI-driven power demand surge.
- **Capital Efficiency**: Management confident in generating sufficient cash flow from operations to fund growth, with minimal need for external capital.


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