Bloom Energy Corporation · NYSE:BE
Bloom Energy — Q3 2024 Earnings Presentation
15 slides from Bloom Energy's earnings presentation, Nov 7, 2024
Slide 1: Q3 2024 Earnings
Q3 2024 Earnings November 7, 2024
Slide 2: Forward-looking statements and non-GAAP financial measures
Forward-looking statements and non-GAAP financial measures This presentation 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 futur
Slide 3: Financial performance
Financial performance $ in millions Q3’24 Q3’23 YoY Total Revenue $330.4 $400.3 (17.5)% Product & Service Revenue $284.5 $352.5 (19.3)% Non-GAAP Gross Margin1 25.2% 31.6% (6.4)pts Non-GAAP Operating Income(Loss)1 $8.1 $51.8 ($43.7) Adjusted EBITDA1 $21.3 $66.4 ($45.0) Non-GAAP EPS1 ($0.01) $0.15 ($0
Slide 4: Revenue and margin analysis – Q3’24
Revenue and margin analysis – Q3’24 Q3’24 Q3’23 Non-GAAP Non-GAAP Non-GAAP Non-GAAP $ in millions Revenue gross profit Revenue gross profit gross margin1 gross margin1 (loss)1 (loss)1 Product $233.8 $80.8 34.6% $305.0 $126.9 41.6% Service 50.8 1.2 2.4% 47.5 (8.9) (18.8%) Install 32.1 (3.0) (9.3%) 21
Slide 5: Cash flow and debt analysis
Cash flow and debt analysis Cash balances Cash flows ($ in millions) Q3’24 Q2’24 Q1’24 ($ in millions) Q3’24 Q2’24 Q1’24 Beginning balance $ 637.8 $ 582.7 $ 745.2 Restricted $53.5 $56.1 $66.7 Unrestricted 495.7 581.7 516.0 Operating cash (CFOA) (69.5) (175.5) (147.3) Total cash $549.2 $637.8 $582.7
Slide 6: Non-GAAP operating expenses overview
1 Non-GAAP operating expenses overview $ in millions Continue to Invest $76 For Growth: $75 • Investing in technology roadmap Research and $31 $31 development • Electrolyzers Sales and $12 $15 • Hydrogen fuel cells marketing • Carbon capture General and $32 $30 • Expanding domestic and administrativ
Slide 7: Reaffirming 2024 guidance
Reaffirming 2024 guidance Metric 2024 Outlook Total Revenue $1.4-1.6B Non-GAAP Gross Margin1 ~28% Non-GAAP Operating Income1 $75-$100M 1. With respect to Bloom’s expectations regarding its 2024 Outlook. Bloom is not able to provide a quantitative reconciliation of non-GAAP gross margin and non-GAAP
Slide 8: Appendix
Appendix Q3 2024 Bloomenersy
Slide 9: GAAP to Non-GAAP reconciliation: Gross profit (loss) and margin
GAAP to Non-GAAP reconciliation: Gross profit (loss) and margin $ in millions Q3’24 Q3’23 GAAP revenue $330.4 $400.3 GAAP cost of sales 251.7 405.5 GAAP gross profit (loss) $78.7 ($5.2) Non-GAAP adjustments: Stock-based compensation expense 3.8 5.6 Impairment of assets related to PPA entity - 123.7
Slide 10: GAAP to Non-GAAP reconciliation: Operating (loss) income and margin
GAAP to Non-GAAP reconciliation: Operating (loss) income and margin $ in millions Q3’24 Q3’23 GAAP operating loss ($9.7) ($103.7) Non-GAAP adjustments: Stock-based compensation expense 17.1 21.6 Impairment of assets related to PPA entity - 130.1 Restructuring (0.1) 2.2 Other 0.8 1.6 Non-GAAP operati
Slide 11: GAAP to Non-GAAP reconciliation: Net (loss) profit and EPS
GAAP to Non-GAAP reconciliation: Net (loss) profit and EPS Diluted (loss) Diluted (loss) $ in millions, except per share Q3’24 earnings per Q3’23 earnings per share share GAAP net loss to common stockholders ($14.7) ($0.06) ($169.0) ($0.61) Non-GAAP adjustments: Gain (loss) for non-controlling inter
Slide 12: GAAP to Non-GAAP reconciliation: Adjusted EBITDA
GAAP to Non-GAAP reconciliation: Adjusted EBITDA $ in millions Q3’24 Q3’23 GAAP net loss to common stockholders $(14.7) ($169.0) Non-GAAP adjustments:1 Add: Gain for non-controlling interests 0.1 0.9 Loss on derivatives liabilities 0.4 0.1 Impairment of assets related to PPA entity - 130.1 Gain from
Slide 13: GAAP to Non-GAAP reconciliation: Diluted (loss) earnings per share
GAAP to Non-GAAP reconciliation: Diluted (loss) earnings per share $ and count in millions, except per share Q3’24 Q3’23 Numerator: GAAP net loss to common stockholders ($14.7) ($169.0) Non-GAAP net (loss) profit to common stockholders ($1.5) $41.8 Denominator: Weighted-average shares used to comput
Slide 14: GAAP to Non-GAAP reconciliation: Gross profit (loss) and margin
GAAP to Non-GAAP reconciliation: Gross profit (loss) and margin $ in Q3’24 Q3’23 millions Non- Non- GAAP GAAP Non- GAAP Non-GAAP Non- GAAP Non-GAAP gross gross Revenue GAAP gross gross Revenue GAAP gross gross profit profit Adj 1 profit margin Adj 1 profit margin (loss) (loss) (loss) (loss) Product
Slide 15: What Powers You
What Bloomenergy | Powers You