Cash and Cash Equivalents - Cash and cash equivalents increased to $557.4 million as of September 30, 2023, compared to $348.5 million as of December 31, 2022[42] - Money market funds held as cash equivalents totaled $489.4 million as of September 30, 2023[51] - Cash and cash equivalents increased to $557.384 million as of September 30, 2023, compared to $348.498 million as of December 31, 2022[42] - Money market funds, classified as Level 1 assets, amounted to $489.395 million as of September 30, 2023[51] Accounts Receivable - Accounts receivable rose to $334.5 million as of September 30, 2023, up from $251.0 million as of December 31, 2022[42] - Accounts receivable rose to $334.495 million as of September 30, 2023, up from $250.995 million as of December 31, 2022[42] Inventories - Inventories grew to $475.6 million as of September 30, 2023, compared to $268.4 million as of December 31, 2022[42] - Inventories grew to $475.649 million as of September 30, 2023, compared to $268.394 million as of December 31, 2022[42] Total Current Assets - Total current assets increased to $1.68 billion as of September 30, 2023, from $1.06 billion as of December 31, 2022[42] - Total current assets increased to $1.682472 billion as of September 30, 2023, from $1.055963 billion as of December 31, 2022[42] Net Loss and Comprehensive Loss - Net loss for the three months ended September 30, 2023, was $168.1 million, compared to $60.4 million for the same period in 2022[45] - Comprehensive loss for the nine months ended September 30, 2023, was $313.6 million, compared to $266.1 million for the same period in 2022[45] - Net loss for the three months ended September 30, 2023 was $168.078 million, compared to $60.392 million in the same period in 2022, representing a 178.3% increase[62] - Net loss for the three months ended September 30, 2023, was $168.078 million, compared to $60.392 million for the same period in 2022[45] - Comprehensive loss for the nine months ended September 30, 2023, was $313.574 million, compared to $266.078 million for the same period in 2022[45] - Net loss for the three months ended September 30, 2023 was $168.078 million, compared to a net loss of $60.392 million in the same period in 2022[62] Related Party Revenue - Related party revenue for the nine months ended September 30, 2023, was $361.0 million, compared to $30.2 million for the same period in 2022[44] - Related party revenue for the nine months ended September 30, 2023, was $361.0 million, compared to $30.2 million for the same period in 2022[44] Total Liabilities - Total liabilities increased to $1.87 billion as of September 30, 2023, from $1.57 billion as of December 31, 2022[42] - Total liabilities increased to $1.870972 billion as of September 30, 2023, from $1.567811 billion as of December 31, 2022[42] Total Stockholders' Equity - Total stockholders' equity rose to $505.2 million as of September 30, 2023, compared to $378.8 million as of December 31, 2022[42] - Total stockholders' equity rose to $505.200 million as of September 30, 2023, compared to $378.816 million as of December 31, 2022[42] Total Revenue - Total revenue for the three months ended September 30, 2023 was $400.268 million, compared to $292.274 million in the same period in 2022, representing a 36.9% increase[62] - Total revenue for the three months ended September 30, 2023 was $400.268 million, a 36.9% increase compared to $292.274 million in the same period in 2022[62] Revenue by Region - Revenue from the Asia Pacific region accounted for 35% of total revenue for the three months ended September 30, 2023, down from 58% in the same period in 2022[76] - Revenue from the Asia Pacific region accounted for 35% of total revenue in the three months ended September 30, 2023, down from 58% in the same period in 2022[76] Revenue Concentration - Two customers accounted for approximately 40% and 31% of total revenue for the three months ended September 30, 2023[77] - Two customers accounted for 40% and 31% of total revenue in the three months ended September 30, 2023[77] Financing Activities - The company issued $632.5 million in 3% Green Convertible Senior Notes on May 16, 2023, with net proceeds of $612.7 million[72] - The company entered into an amended securities purchase agreement with SK ecoplant on March 20, 2023, issuing 13,491,701 shares of Series B redeemable convertible preferred stock for $311.0 million[71] - The company issued $632.5 million in 3% Green Convertible Senior Notes in May 2023, with net proceeds of $612.7 million[72] - The company entered into an agreement with SK ecoplant in March 2023, issuing 13,491,701 shares of Series B redeemable convertible preferred stock for $311.0 million[71] Operating Cash Flows - Operating cash flows from operating leases were $23.684 million for the three months ended September 30, 2023, compared to $11.759 million in the same period in 2022[67] Future Capital Requirements - The company expects its existing cash and cash equivalents, combined with expected operating cash flows, to be sufficient to meet operational and capital cash flow requirements for the next 12 months[74] - The company's future capital requirements depend on factors such as revenue growth, R&D spending, system build volumes, and market expansion[73] - The company expects existing cash and cash equivalents, along with operating cash flows, to be sufficient to meet operational and capital cash flow requirements for the next 12 months[74] Deferred Revenue - The company's deferred revenue is expected to be recognized over a period of up to 21 years, primarily related to maintenance services and product acceptance[81] Gross Loss and Operating Expenses - Gross loss for the three months ended September 30, 2023 was $5.214 million, compared to a gross profit of $50.944 million in the same period in 2022[62] - Operating expenses for the three months ended September 30, 2023 were $98.494 million, a 4.9% decrease compared to $103.536 million in the same period in 2022[62] - Research and development expenses for the three months ended September 30, 2023 were $35.126 million, a 2.8% decrease compared to $36.146 million in the same period in 2022[62]

Financial Data and Key Metrics Changes - The company reported record total revenue of $301 million for Q2 2023, representing a nearly 24% increase compared to the previous year [18] - Product costs decreased by 13%, leading to an improvement in product margin by 670 basis points [18] - The total cash balance at the end of Q2 was $923 million, positioning the company well for growth [18][20] - The non-GAAP gross margin was 20.4%, with expectations to achieve a positive non-GAAP operating margin and cash flow from operations for the year [21][22] Business Line Data and Key Metrics Changes - The company is focusing on large-scale projects, particularly in data centers, which require complex solutions and longer sales cycles [19] - The introduction of the Series 10 offering aims to address customer needs for affordable, reliable, and flexible power solutions [11][19] - The service business is expected to improve in the coming quarters, with the second quarter anticipated to be the largest service loss [22] Market Data and Key Metrics Changes - The demand for power is significantly outpacing supply, leading to power shortages and rising energy costs [7][8] - The company is seeing increased interest from businesses regarding energy security and decarbonization goals, making energy strategy a critical boardroom issue [8] Company Strategy and Development Direction - The company is committed to providing scalable and proven energy solutions that can operate on natural gas and transition to hydrogen as it becomes available [9][12] - The launch of the enhanced combined heat and power (CHP) solution is aimed at decarbonizing industrial processes and reducing energy costs [15][16] - The company is actively pursuing international markets, with recent successes in Europe and Asia, indicating a strong sales pipeline [46][47] Management's Comments on Operating Environment and Future Outlook - Management highlighted the urgency for businesses to find reliable energy solutions due to ongoing power shortages and rising costs [7][8] - The company expects to see revenue growth similar to Q2 in Q3, with slight improvements in margins due to cost reductions and better service performance [23][29] - Management remains optimistic about the future, emphasizing the importance of their product solutions in achieving a net-zero carbon future [23] Other Important Information - The company executed a convertible green bond offering, raising net proceeds of $560 million [20] - The Series 10 offering is designed to provide a flat power price for five years, addressing customer concerns about rising energy costs [11][62] Q&A Session Summary Question: When should the Series 10 products start impacting the P&L? - Management indicated that while the Series 10 will primarily drive revenue in 2024 and 2025, initial transactions are expected to occur within the current year due to shorter sales cycles [24][25] Question: Can you elaborate on the margin trajectory for Q3 and Q4? - Management expects Q2 to be the peak for service losses, with improvements anticipated in the second half of the year, particularly in Q4, which is typically the largest acceptance quarter [29][30] Question: What are the implications of the U.S. Treasury's guidance on H2 production tax credits? - Management expressed confidence in their electrolyzer technology's adaptability to various regulatory outcomes, emphasizing their agnostic approach to hydrogen production [33][34] Question: Can you quantify the savings from the CHP system? - Management noted that customers could see up to 30% cost savings and a similar reduction in carbon footprint by utilizing the CHP system for cooling applications [39][40] Question: What is the status of the electrolyzer project at Prairie Island? - Management confirmed that the project is on track for regulatory approvals and is expected to showcase their technology effectively [41][42] Question: What is the company's strategy for international markets? - Management highlighted successful partnerships in Europe and ongoing efforts in Asia, particularly in Taiwan, indicating strong momentum in international sales [46][47] Question: How is the company managing supplier relationships in the hydrogen economy? - Management emphasized the importance of building relationships with suppliers and leveraging existing partnerships to enhance their supply chain for electrolyzers and fuel cells [50][51]

Pledged Funds - In 2019, pursuant to the PPA IIIb upgrade of Energy Servers, we established a restricted cash fund of $20.0 million, which had been pledged for a seven-year period to secure our operations and maintenance obligations with respect to the totality of our obligations to the financier. All or a portion of such funds would be released if we meet certain credit rating and/or market capitalization milestones prior to the end of the pledge period. If we do not meet the required criteria within the f ...

Bloom Energy Corporation (NYSE:BE) Q1 2023 Earnings Conference Call May 9, 2023 5:00 PM ET Company Participants Ed Vallejo - VP, IR K.R. Sridhar - Founder, Chairman and CEO Greg Cameron - President and CFO Conference Call Participants Andrew Percoco - Morgan Stanley Manav Gupta - UBS Alex Vrabel - Bank of America Sam Burwell - Jefferies Jason Vernoff - Oppenheimer Sangita Jain - KeyBanc Pavel Molchanov - Raymond James Luke Tilkens - Piper Sandler Jordan Levy - Truist Abhishek Sinha - Northland Capital Noel ...

FORM 10-Q 1 PART II - OTHER INFORMATION Item 1 - Legal Proceedings 44 Item 1A - Risk Factors 44 Item 2 - Unregistered Sales of Equity Securities and Use of Proceeds 44 Item 3 - Defaults Upon Senior Securities 44 Item 4 - Mine Safety Disclosures 44 Item 5 - Other Information 44 Item 6 - Exhibits 45 2 ITEM 1 - FINANCIAL STATEMENTS We have variable interest entity related to PPA V (see Note 10 - Portfolio Financings) and joint venture in the Republic of Korea (see Note 15 - SK ecoplant Strategic Investment), w ...

• require super-majority voting to amend some provisions in our restated certificate of incorporation and amended and restated bylaws; • authorize the issuance of "blank check" preferred stock that our board of directors could use to implement a shareholder rights plan; • authorize only the chairman of our board of directors, our chief executive officer, or a majority of our board of directors to call a special meeting of stockholders; • prohibit stockholder action by written consent, which thereby requires ...

Bloom Energy Corporation. (NYSE:BE) Q4 2022 Earnings Conference Call February 9, 2023 5:00 PM ET Company Participants Ed Vallejo - Vice President, Investor Relations K.R. Sridhar - Founder, Chairman & Chief Executive Officer Greg Cameron - Chief Financial Officer Conference Call Participants Manav Gupta - UBS Julien Dumoulin-Smith - Bank of America Michael Blum - Wells Fargo Martin Malloy - Johnson Rice & Company Jordan Levy - Truist Securities Colin Rusch - Oppenheimer Sam Burwell - Jefferies Biju Perinche ...

Bloom Energy Corporation (NYSE:BE) Q3 2022 Earnings Conference Call November 3, 2022 5:00 PM ET Company Participants Ed Vallejo - Vice President, Investor Relations K.R. Sridhar - Founder, Chairman & Chief Executive Officer Greg Cameron - Chief Financial Officer Conference Call Participants Sam Burwell - Jefferies Michael Blum - Wells Fargo Securities Maheep Mandloi - Credit Suisse Julien Dumoulin-Smith - Bank of America Martin Malloy - Johnson Rice & Company L.L.C Noel Parks - Tuohy Brothers Kashy Harrison ...

| --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------| | | | | | | | | | | | | Forward-looking statements and non-GAAP financial measures This press release contains certain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they con ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ________________________________________________________________________ FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________to ____________ Commission File Number 001-38598 _____________________________ ...