Bloom Energy Corporation · NYSE:BE
Bloom Energy — Q2 2025 Earnings Presentation
17 slides from Bloom Energy's earnings presentation, Jul 31, 2025
Slide 1: Q2'25 Earnings
Q2’25 Earnings July 31, 2025
Slide 2: Forward-looking statements and non-GAAP financial measures
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 futu
Slide 3: Bloom's Mission
Bloom's Mission To Make Clean, Reliable Energy Affordable for Everyone in the World.” 3
Slide 4: Financial Performance
Financial Performance $ in millions Q2’25 Q2’24 YoY Revenue $401.2 $335.8 19.5% Non-GAAP Gross Margin1 28.2% 21.8% 6.5% Non-GAAP Operating Income (Loss) $28.6 ($3.2) $31.8 Adjusted EBITDA1 $41.2 $10.2 $31.0 Non-GAAP EPS1 $0.10 ($0.06) $0.16 Note: Dollars in millions, except per share figures and per
Slide 5: 2025 Guidance
2025 Guidance Metric 2025 Outlook Total Revenue $1.65B - $1.85B Non-GAAP Gross Margin1 ~29% Non-GAAP Operating Income1 $135M - $165M 1. With respect to Bloom’s expectations regarding its 2025 Outlook. Bloom is not able to provide a quantitative reconciliation of non-GAAP gross margin and non-GAAP op
Slide 6: Growing Revenue and Expanding Margins
Growing Revenue and Expanding Margins Revenue ($ in billions) Non-GAAP Gross Margin1 $1.65 - $1.85 $1.5 ◆ 29% 29% $1.3 $1.2 26% $1.0 $0.8 23% 23% 22% 2020 21 22 23 24 2025E 2020 21 22 23 24 2025E Reiterating 2025 guidance after Q2 2025 results 1. Please reference appendix for GAAP to Non-GAAP reconc
Slide 7: Driving Profitability and Generating Cash
Driving Profitability and Generating Cash Non-GAAP Operating Income1 Cash Flow from Operating Activities $135 - $165 $108 ◆ Similar to ‘24 $92 $19 $(7) $(38) $(33) $(61) $(99) $(192) $(372) 2020 21 22 23 24 2025E 2020 21 22 23 24 2025E Expanding profit margins; CFOA similar to 2024 levels 1. Please
Slide 8: Appendix
Appendix Q2 2025 Bloomenersy
Slide 9: GAAP to Non-GAAP reconciliation: Gross profit and margin
GAAP to Non-GAAP reconciliation: Gross profit and margin $ in millions Q2’25 Q2’24 GAAP revenue $401.2 $335.8 GAAP cost of sales 294.1 267.2 GAAP gross profit $107.1 $68.5 Non-GAAP adjustments: Stock-based compensation expense 5.7 4.1 Restructuring 0.3 0.1 Other 0.2 0.4 Non-GAAP gross profit $113.4
Slide 10: GAAP to Non-GAAP reconciliation: Gross profit and margin
GAAP to Non-GAAP reconciliation: Gross profit and margin $ in millions 2024 2023 2022 2021 2020 GAAP revenue $1,473.9 $1,333.5 $1,199.1 $972.2 $794.2 GAAP cost of sales 1,069.2 1,135.7 1,050.8 774.6 628.5 GAAP gross profit $404.6 $197.8 $148.3 $197.6 $165.8 Non-GAAP adjustments: Stock-based compensa
Slide 11: GAAP to Non-GAAP reconciliation: Operating income (loss) and margin
GAAP to Non-GAAP reconciliation: Operating income (loss) and margin $ in millions Q2’25 Q2’24 GAAP operating loss ($3.5) ($23.1) Non-GAAP adjustments: Stock-based compensation expense 30.2 19.4 Restructuring 1.8 0.1 Other 0.2 0.4 Non-GAAP operating income (loss) $28.6 ($3.2) GAAP operating margin (0
Slide 12: GAAP to Non-GAAP reconciliation: Operating income (loss) and margin
GAAP to Non-GAAP reconciliation: Operating income (loss) and margin $ in millions 2024 2023 2022 2021 2020 GAAP operating income (loss) $22.9 ($208.9) ($261.0) ($114.5) ($80.8) Non-GAAP adjustments: Stock-based compensation expense 83.0 87.1 114.0 76.1 73.9 Restructuring (0.4) 9.2 - - - Impairment o
Slide 13: GAAP to Non-GAAP reconciliation: Net income (loss) and EPS
GAAP to Non-GAAP reconciliation: Net income (loss) and EPS Dilutive Dilutive $ in millions, except per share Q2’25 earnings per Q2’24 earnings per share share GAAP net loss to common stockholders ($42.6) ($0.18) ($61.8) ($0.27) Non-GAAP adjustments: Add back: Income attributable to noncontrolling in
Slide 14: GAAP to Non-GAAP reconciliation: Adjusted EBITDA
GAAP to Non-GAAP reconciliation: Adjusted EBITDA $ in millions Q2’25 Q2’24 GAAP net loss to common stockholders ($42.6) ($61.8) Non-GAAP adjustments: Add back: Income attributable to noncontrolling interest 0.4 0.6 Loss on extinguishment of debt 32.3 27.2 Stock-based compensation expense 30.2 19.4 R
Slide 15: GAAP to Non-GAAP reconciliation: Diluted earnings (loss) per share
GAAP to Non-GAAP reconciliation: Diluted earnings (loss) per share $ and count in millions, except per share Q2’25 Q2’24 Numerator: GAAP net loss to common stockholders ($42.6) ($61.8) Non-GAAP net income (loss) to common stockholders $22.1 ($14.0) Denominator: Weighted-average shares used to comput
Slide 16: GAAP to Non-GAAP reconciliation: Gross profit (loss) and margin
GAAP to Non-GAAP reconciliation: Gross profit (loss) and margin $ in Q2’25 Q2’24 millions Non- Non- Non- GAAP Non- GAAP Non- GAAP GAAP Non- GAAP GAAP GAAP gross GAAP gross Revenue GAAP gross gross Revenue GAAP gross gross gross profit gross profit Adj 1 profit margin Adj 1 profit margin margin (loss
Slide 17: What Powers You
What Bloomenergy | Powers You