Bloom Energy(US:BE)2025-02-27 22:152024 Financial Highlights - Record annual revenue reached $1.47 billion[7] - Record annual non-GAAP gross margin was 28.7%[7] - Full-year positive cash flow from operating activities was generated at $92 million[7] - The service business achieved non-GAAP profitability every quarter[7] 2024 Commercial Performance - Healthy product backlog of $2.5 billion[7] - Significant new agreements were made with SVP and AEP[7] - The largest islanded microgrid in CA was established[7] - The world's largest single site fuel cell project, 80MW with SK Eternix, was announced[7] 2024 Financial Results (YoY Comparison) - Q4 2024 revenue increased by 60.4% to $572 million, compared to $357 million in Q4 2023[9] - Full year 2024 revenue increased by 10.5% to $1.474 billion, compared to $1.333 billion in 2023[9] - Q4 2024 non-GAAP gross margin was 39.3%, a 11.9 percentage point increase from 27.4% in Q4 2023[9] - Full year 2024 non-GAAP gross margin was 28.7%, a 2.9 percentage point increase from 25.8% in 2023[9] - Full year 2024 non-GAAP operating income was $108 million, compared to $19 million in 2023[9] Backlog - Product backlog remained at $2.5 billion[12] - Service backlog increased by 6% to $9.6 billion[12] 2025 Guidance - Total revenue is projected to be between $1.65 billion and $1.85 billion[15] - Non-GAAP gross margin is expected to be approximately 29%[15] - Non-GAAP operating income is projected to be between $135 million and $165 million[15]