Bloom Energy(US:BE)2023-11-07 16:00Cash 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]