Financial Data and Key Metrics Changes - Revenue for Q2 2025 was $401 million, representing a 19.5% year-over-year increase [19] - Gross margin improved to 28.2%, up from 21.8% in Q2 2024, attributed to mix and level loaded manufacturing [19] - Operating income was $28.6 million compared to a loss of $3.2 million in Q2 2024 [20] - Adjusted EBITDA reached $41.2 million, up from $10.2 million in the previous year [20] - Earnings per share (EPS) was $0.10, compared to a loss of $0.06 a year ago [20] Business Line Data and Key Metrics Changes - The service business has been profitable for six consecutive quarters, achieving double-digit percentage margins for the first time [12][20] - The company is experiencing strong demand from commercial and industrial customers, particularly in the AI sector [12][11] Market Data and Key Metrics Changes - The company has seen a significant increase in demand for clean, reliable power solutions, particularly from AI data center operators [6][7] - A strategic partnership with American Electric Power (AEP) has led to deployments with Amazon Web Services and CoreLogics [7][8] Company Strategy and Development Direction - The company plans to double its factory capacity from one gigawatt to two gigawatts by the end of next year [16] - The focus is on rapid deployment and scalability to meet the urgent power needs of AI data centers [12][16] - The company is committed to maintaining fiscal discipline while scaling operations [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand for their products, driven by the need for rapid deployment in the AI sector [12][34] - The restoration of tax credit benefits for fuel cell systems is expected to provide a tailwind for growth [13] - The company reiterated its 2025 revenue guidance of $1.65 billion to $1.85 billion [21] Other Important Information - The company has generated over 40 terawatt hours of electricity and deployed more than 22,000 energy servers since inception [14] - The company has collected over 4.5 trillion data points from its fuel cell stacks, which are being used to improve performance and reduce costs [15][91] Q&A Session Summary Question: Can you elaborate on your recent success with hyperscalers? - The Oracle deal marks the first direct interaction with a hyperscaler, and Bloom will serve as the primary power source for a significant AI data center project [26][27] Question: What gives you the confidence to double your production capacity? - Confidence stems from strong commercial activity and a robust pipeline, with large hyperscalers expected to spend significantly on CapEx [31][34] Question: How long do you expect it to take to build out this capacity? - The company can increase capacity in six months and is prepared to meet customer timelines [38][40] Question: What is the estimated cost for the expansion? - The expansion to two gigawatts is estimated to cost around $100 million, spread over several quarters [41] Question: Can you discuss the improvement in operating margin? - The improvement is driven by fiscal discipline and effective cost management, with expectations for continued growth in operating income [46][47] Question: What is the status of international opportunities? - The company is actively developing markets in Taiwan, Germany, Italy, and the UK, while maintaining a strong domestic focus [71][72] Question: How does Bloom's solution compare to natural gas turbines? - Bloom's solution offers lower operating costs, easier permitting, and faster deployment compared to traditional gas turbines [99][100] Question: Can you confirm the status of the recent projects with AEP? - The projects with AEP are part of the existing pipeline, contributing to the overall capacity goals [103] Question: Can you provide clarity on the Oracle deal? - The Oracle deal is a confirmed purchase order, with power expected to be delivered within ninety days [107]

Financial Performance - Total revenue for Q2 2025 was $401,242,000, representing a 19.5% increase from $335,767,000 in Q2 2024[14] - Product revenue increased to $296,611,000 in Q2 2025, up 31.0% from $226,308,000 in Q2 2024[14] - Gross profit for the first half of 2025 was $195,830,000, compared to $106,598,000 in the same period of 2024, reflecting an 83.6% increase[14] - The company reported a comprehensive loss attributable to common stockholders of $41,155,000 for Q2 2025, compared to $61,949,000 in Q2 2024[16] - The company reported a net loss of $42,619 thousand for the three months ended June 30, 2025, compared to a net loss of $61,787 thousand for the same period in 2024, indicating an improvement of approximately 30.9%[20] - Net loss for the six months ended June 30, 2025, was $65.6 million, a decrease from a net loss of $117.7 million in the same period of 2024[25] - Total revenue from contracts with customers for the six months ended June 30, 2025, was $715.5 million, compared to $552.5 million for the same period in 2024, reflecting a year-over-year increase of approximately 29.5%[52] - The company recognized $541.1 million in revenue for the six months ended June 30, 2025, compared to $422.3 million for the same period in 2024, indicating a growth of approximately 28.2%[50] Cash and Liquidity - Cash and cash equivalents decreased to $574,764,000 as of June 30, 2025, down from $802,851,000 at the end of 2024[11] - The company reported cash and cash equivalents of $574.8 million as of June 30, 2025, compared to $802.9 million as of December 31, 2024[54] - Cash, cash equivalents, and restricted cash decreased to $606.0 million as of June 30, 2025, from $637.8 million at the end of the previous period[25] - The company had $1.1 billion in cash equivalents and restricted cash as of June 30, 2025, down from $950.9 million at the end of December 31, 2024[54] - Cash flows from operating activities resulted in a net cash used of $323.8 million for the six months ended June 30, 2025, compared to $322.8 million for the same period in 2024[25] - Cash paid during the period for interest was $26.7 million for the six months ended June 30, 2025[25] Expenses and Liabilities - Research and development expenses for Q2 2025 were $40,768,000, up from $37,364,000 in Q2 2024, indicating a 10.3% increase[14] - Total current liabilities decreased significantly to $387,339,000 from $636,758,000 year-over-year[11] - Total accrued expenses and other current liabilities were $116,619,000 as of June 30, 2025, down 15.7% from $138,450,000 at the end of 2024[69] - The company incurred a depreciation and amortization expense of $24.6 million for the six months ended June 30, 2025[25] - The company recorded a $32.3 million loss on early extinguishment of debt due to the exchange of $112.8 million in 2.5% Green Notes for $115.7 million in 3.0% Green Notes[31] Equity and Shares - Total equity attributable to common stockholders increased to $594,581 thousand as of June 30, 2025, up from $578,271 thousand at March 31, 2025, reflecting a growth of approximately 2.3%[20] - The total number of common shares outstanding increased to 233,661,168 as of June 30, 2025, from 231,969,446 shares at March 31, 2025, representing an increase of about 0.7%[20] - The company had a weighted average of 232,542,000 shares used to compute net loss per share for Q2 2025, compared to 227,167,000 shares in Q2 2024[14] Revenue Sources - Revenue in the U.S. accounted for 58% of total revenue for the six months ended June 30, 2025, down from 65% in the same period of 2024[39] - For the three months ended June 30, 2025, four customers accounted for approximately 30%, 18%, 15%, and 11% of total revenue, while for the six months, two customers represented approximately 33% and 23% of total revenue[41] - The portion of total revenue attributable to direct purchase options was 97% for the six months ended June 30, 2025[193] Market and Strategic Developments - Bloom Energy has deployed over 1.5 gigawatts of low-carbon power across more than 1,200 installations globally[148] - The Company anticipates that its energy solutions will become more cost-competitive as utility rates are expected to rise due to infrastructure investments over the next five years[158] - The global energy transition is creating both challenges and opportunities, impacting sales cycles and customer decision-making processes[149] - The Company is working to align its development and sourcing strategies with new compliance requirements under the OBBBA, which restores the ITC at 30% for fuel cell projects starting construction after December 31, 2026[162] - The Company has experienced lengthening sales cycles, which may adversely impact revenue, margins, and cash flow if anticipated bookings are delayed[169] Stock-Based Compensation - Stock-based compensation expense for the three months ended June 30, 2025, was $30.2 million, up 55.3% from $19.4 million in the same period of 2024[102] - For the six months ended June 30, 2025, stock-based compensation expense totaled $62.4 million, an increase of 63.0% compared to $38.3 million for the same period in 2024[102] - The company recognized $25.9 million and $54.7 million in stock-based compensation costs for stock awards during the three and six months ended June 30, 2025, respectively, compared to $15.5 million and $33.4 million in the same periods of 2024[107] - As of June 30, 2025, the unrecognized stock-based compensation expense related to unvested stock awards was $235.1 million, expected to be recognized over a weighted average period of 2.3 years[108] Debt and Financing - Total outstanding recourse and non-recourse debt as of June 30, 2025, was $1,128.5 million, with $3.7 million classified as short-term debt[31] - The company had $518,225,000 in 3.0% Green Convertible Senior Notes due June 2029, with a net carrying value of $505,165,000[72] - The maximum number of shares into which the 3.0% Green Notes due June 2029 could be converted was 32,944,961 as of June 30, 2025[75] - Total debt as of June 30, 2025, was $1,157,390,000, an increase from $1,154,057,000 as of December 31, 2024[72]

Q2'25 Earnings 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 and are based on current expectations, estimates, and projections about our industry, management's beliefs, and certain assumptions made by management based on ...

Bloom Energy Reports Second Quarter 2025 Financial Results • Third straight quarter of quarterly record revenue and profits • 6th straight quarter of services profitability • Bloom plans to double factory capacity from 1GW to 2 GW by end of 2026 • Revenue of $401.2 million in the second quarter of 2025, an increase of 19.5% compared to $335.8 million in the second quarter of 2024. Product and service revenue of $351.1 million in the second quarter of 2025, an increase of 25.9% compared to $278.8 million in ...

Bloom Energy Today BE Bloom Energy $37.63 +0.01 (+0.03%) 52-Week Range $9.02 ▼ One company that's been breaking out recently and giving investors plenty of reasons to expect further gains is Bloom Energy Corp. NYSE: BE. Unlike many traditional energy firms, Bloom Energy focuses on renewable, clean-energy solutions. With several upcoming catalysts on the horizon and oil prices widely anticipated to trend higher in the second half of 2025 amid ongoing geopolitical and economic uncertainty, renewables become a ...

Core Insights - Bloom Energy (BE) is set to release its second-quarter 2025 results on July 31, with a previous earnings surprise of 142.9% [1] Group 1: Earnings Expectations - The Zacks Consensus Estimate for Bloom Energy's earnings is projected to be breakeven, while revenues are expected to reach $381.39 million, reflecting a year-over-year increase of 13.6% [5][9] Group 2: Factors Influencing Performance - The company's earnings are anticipated to benefit from increasing energy demand from data centers, with its on-site power generation solutions enhancing energy efficiency and sustainability [3][9] - Bloom Energy's ongoing projects in South Korea, particularly through its partnership with SK ecoplant, are expected to contribute positively to its top line, reinforcing its market leadership in the hydrogen economy and electricity generation [4][9] - The expansion of Bloom Energy's domestic and international commercial capabilities is likely to further support its earnings growth [2][9] Group 3: Earnings Prediction Model - The current model does not predict an earnings beat for Bloom Energy, as the Earnings ESP stands at 0.00% and the company holds a Zacks Rank of 3 (Hold) [6][7]

Bloom Energy (BE) Update Summary Company Overview - **Company**: Bloom Energy (BE) - **Industry**: Fuel Cell Technology Key Points and Arguments 1. **Partnership Announcement**: Bloom Energy announced a partnership with Oracle to power AI data centers using their fuel cell technology, emphasizing the need for reliable and efficient power solutions in data centers [2][3] 2. **Speed and Reliability**: Bloom's fuel cells can power an entire data center within 90 days and deliver 99% uptime, making them a reliable primary power source rather than a backup solution [3][4][10] 3. **Environmental Benefits**: The fuel cells produce clean power with virtually no air pollution and do not consume water, addressing sustainability concerns for data centers [4][42] 4. **Cost Competitiveness**: Bloom has achieved price competitiveness with other energy generation solutions, having undergone an aggressive cost reduction journey over the past five to ten years [13] 5. **Deployment Statistics**: Bloom has deployed 1.5 gigawatts of fuel cells across 1,200 sites, with significant contracts including a landmark deal with AEP for up to one gigawatt of power [15] 6. **Customer Base**: Notable customers include Equinix, which has over 100 megawatts of Bloom's fuel cells in its data centers globally [15] 7. **Key Advantages for Data Centers**: - **Time to Power**: Quick installation and deployment to meet urgent power needs [16] - **Reliability**: Configurable systems that can exceed five nines availability [17] - **Cost Efficiency**: Often more economical than other power options, with significant savings in operational costs [18][36] - **Sustainability**: Non-combustion technology that reduces emissions and supports sustainability goals [18][41] Technical Insights 1. **Fuel Cell Technology**: Bloom's fuel cells are based on solid oxide technology, which is fuel flexible and highly efficient, achieving an average efficiency of 54% [78][66] 2. **Scalability**: The modular design allows for easy scaling, with systems that can be stacked to meet large power demands [12][63] 3. **Operational Flexibility**: The fuel cells can operate in island mode, providing power independently from the grid, and can respond quickly to varying power demands, especially for AI workloads [74][57] 4. **Waste Heat Utilization**: The systems can utilize waste heat for additional applications, enhancing overall efficiency [46][93] Economic Considerations 1. **Cost of Ownership**: Over a five-year project, total cost of ownership can be 15% to 25% lower compared to other solutions, factoring in both capital and operational expenditures [37] 2. **Overbuild Concept**: Bloom's smaller building block size allows for a lower percentage of overbuild to achieve desired reliability levels, reducing capital expenditure [60][62] Additional Insights 1. **Market Trends**: Increasing demand for on-site power solutions in data centers due to growing AI workloads and the inability of utilities to meet power needs [23][24] 2. **Regulatory Advantages**: Bloom's technology may be exempt from certain air permits in jurisdictions with strict regulations, facilitating quicker project approvals [42] 3. **Future Readiness**: The technology is adaptable to future energy landscapes, including the potential for hydrogen use and carbon capture capabilities [46][84] Conclusion Bloom Energy is positioned as a leader in the fuel cell technology space, offering reliable, cost-effective, and environmentally friendly power solutions tailored for the growing demands of data centers, particularly in the context of AI and sustainability initiatives. The company's strategic partnerships and technological advancements further enhance its competitive edge in the market.

Core Insights - Bloom Energy has announced a partnership with Oracle to power data centers, leading to a significant increase in its stock price by 20.2% [1][3] - The partnership will involve Bloom Energy deploying its fuel cell solutions at specific Oracle Cloud Infrastructure data centers in the United States [3][4] - The collaboration aims to provide Oracle with reliable, clean, and cost-efficient power to support its growth strategy, particularly in the context of increasing demand for AI and cloud computing [4][6] Company Developments - Bloom Energy is expected to deliver fuel cell-generated power for an entire data center within 90 days [5] - While the current deal may not be a game changer for Bloom Energy, it positions the company favorably for future partnerships as AI companies invest heavily in data center infrastructure [6] - The deal enhances Bloom Energy's attractiveness to investors seeking exposure to fuel cell technology [7]

Company Performance - Bloom Energy's stock increased by 2.25% to $25.93, outperforming the S&P 500's gain of 0.06% on the same day [1] - Prior to the recent trading session, Bloom Energy shares had risen by 12.41%, while the Oils-Energy sector experienced a loss of 3.71% and the S&P 500 gained 5.88% [1] Earnings Forecast - The upcoming earnings report for Bloom Energy is scheduled for July 31, 2025, with projected earnings per share (EPS) of $0.01, reflecting a 116.67% increase year-over-year [2] - Revenue is anticipated to be $382.08 million, indicating a 13.79% increase compared to the same quarter last year [2] Annual Estimates - Zacks Consensus Estimates forecast Bloom Energy's earnings for the year at $0.42 per share and revenue at $1.75 billion, representing increases of 50% and 18.45% respectively from the previous year [3] Analyst Estimates - Recent changes to analyst estimates for Bloom Energy are crucial for investors, as positive revisions are interpreted as favorable indicators for business outlook [3][4] Zacks Rank - Bloom Energy currently holds a Zacks Rank of 3 (Hold), with the Zacks Consensus EPS estimate having decreased by 9.09% over the past month [5] - The Zacks Rank system has a strong track record, with stocks rated 1 delivering an average annual return of +25% since 1988 [5] Valuation Metrics - Bloom Energy has a Forward P/E ratio of 60.86, significantly higher than the industry average of 20.51 [6] - The company also has a PEG ratio of 2.5, which is comparable to the industry average PEG ratio of 2.49 [6] Industry Context - The Alternative Energy - Other industry, which includes Bloom Energy, ranks in the bottom 37% of all industries according to the Zacks Industry Rank [7] - The Zacks Industry Rank indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]

Bloom Energy (BE) Update / Briefing Summary Company Overview - **Company**: Bloom Energy (BE) - **Industry**: Fuel Cell Technology - **Date of Briefing**: July 16, 2025 Key Points and Arguments Fuel Cell Technology - Bloom Energy's fuel cells convert chemical energy from natural gas into electrical energy, serving as a primary power source rather than backup [5][6] - The technology is ultra-reliable, achieving availability beyond five nines (99.999%) [8] - Fuel cells operate with zero air pollution, producing no NOx, SOx, or particulate matter, and have a lower CO2 footprint compared to other technologies [8][35] - The company has over 1.5 gigawatts deployed across 1,200 locations globally, with significant installations in data centers [10][11] Competitive Advantages - **Time to Power**: Bloom Energy can install systems quickly to meet urgent business needs, often faster than traditional utility setups [12] - **Cost Competitiveness**: The technology has become price competitive with other energy solutions, with potential savings of up to $66 million on a 100 megawatt data center due to lower CapEx from reduced overbuild requirements [29][31] - **Efficiency**: The fuel cells have a lifetime average efficiency of 54%, leading to significant fuel savings, estimated at $15 million annually for a 100 megawatt data center [30][31] - **Scalability**: The technology is modular, allowing for easy scaling to meet customer needs, with installations comparable to Lego blocks [9][16] Market Demand and Applications - Bloom Energy is seeing increased demand from data centers, particularly as workloads shift from CPUs to GPUs, necessitating flexible energy solutions [20][21] - The company is positioned to meet the growing energy needs of data centers, with a focus on sustainability and operational efficiency [12][13][21] Environmental Impact - The fuel cells are water neutral, using minimal water during operation and producing water vapor as a byproduct [35][51] - The technology mitigates CO2 emissions by approximately 35% compared to traditional energy generation methods [35] Future Readiness - Bloom Energy's systems are designed for future integration with carbon capture technologies and can utilize waste heat for combined heat and power solutions [40][41] - The company is prepared for fuel flexibility, capable of running on hydrogen and other fuels as they become commercially viable [42] Customer Engagement and Support - Bloom Energy emphasizes continuous maintenance and customer support, with a median life of over five years between fuel cell replacements [23][44] - The company has invested in infrastructure to ensure rapid deployment and scalability, with manufacturing capabilities designed to meet increasing demand [38][39] Additional Important Insights - The permitting process is often the longest lead time item for project deployment, with Bloom Energy's non-combustion technology allowing for faster permitting in many jurisdictions [39][69] - The company is actively exploring partnerships and projects in key markets, including Atlanta, Georgia, and has a strong presence in California [54][88] Conclusion Bloom Energy is positioned as a leader in the fuel cell technology sector, offering scalable, efficient, and environmentally friendly energy solutions. The company is well-prepared to meet the growing demands of data centers and other industries while maintaining a strong focus on sustainability and operational efficiency.