Bloom Energy Corporation · NYSE:BE
Bloom Energy — Q1 2022 Earnings Presentation
16 slides from Bloom Energy's earnings presentation, May 5, 2022
Slide 1: Q1 2022 Earnings
Q1 2022 Earnings May 5, 2022
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: Financial performance
Financial performance $ in millions Q122 Q121 YoY • Record first quarter Acceptances (100kW) 375 359 4.6% acceptances and revenue Total Revenue $201.0 $194.0 3.6% • Investing in manufacturing capacity to meet demand Product & Service Revenue $168.8 $174.3 (3.2%) • Navigating a challenging global Non
Slide 4: Revenue and margin analysis
Revenue and margin analysis Q122 Q121 Non-GAAP Non-GAAP Non-GAAP Non-GAAP $ in millions Revenue Revenue gross profit1 gross margin1 gross profit1 gross margin1 Product $133.5 $30.1 22.5% $137.9 $52.5 38.1% Service 35.2 (5.7) (16.2%) 36.4 1.0 2.7% Install 13.6 1.5 11.0% 2.7 (1.5) (55.6%) Electricity
Slide 5: Cash flow and debt analysis
Cash flow and debt analysis Cash flows ($ in Millions) Q122 Q421 Q121 Cash balances ($ in Millions) Q122 Q421 Q121 Beginning balance $ 615.1 $ 319.9 $ 416.7 Restricted $ 207.9 $ 219.1 $ 185.0 Operating cash (CFOA)1 (92.4) 47.2 (89.0) Unrestricted 286.0 396.0 180.7 Investing cash (18.5) (5.2) (12.9)
Slide 6: Non-GAAP operating expenses overview
Non-GAAP operating expenses1 overview $ millions Continue to Invest $71 For Growth: $67 Research and $27 • Investing in technology roadmap development $22 • Expanding domestic and Sales and $17 $19 international commercial capability marketing • Ensure control environment and $27 support functions s
Slide 7: Reaffirming 2022 financial outlook
Reaffirming 2022 financial outlook 2022 Metric Outlook Total Revenue $1.1-$1.15B ✓ • Strong backlog to support revenue outlook Product & Service Revenue ~$1B ✓ • Increasing manufacturing capacity to meet demand Non-GAAP Gross Margin %1 ~24% ✓ • Navigating a challenging global supply chain Non-GAAP O
Slide 8: Appendix
Appendix Q1 2022 Bloomenersy
Slide 9: GAAP to Non-GAAP reconciliation: Gross profit and margin
GAAP to Non-GAAP reconciliation: Gross profit and margin $ in millions Q122 Q121 GAAP Revenue $201.0 $194.0 GAAP cost of sales 173.1 139.4 GAAP gross profit $27.9 $54.7 Non-GAAP adjustments: Stock-based compensation expense $3.9 $3.0 Non-GAAP gross profit $31.8 $57.7 GAAP gross profit margin 13.9% 2
Slide 10: GAAP to Non-GAAP reconciliation: Operating profit (loss) and margin
GAAP to Non-GAAP reconciliation: Operating profit (loss) and margin $ in millions Q122 Q121 GAAP loss from operations $(65.7) $(14.4) Non-GAAP adjustments: Stock-based compensation expense 26.3 17.2 Non-GAAP earnings (loss) from operations $(39.4) $2.8 GAAP operating profit (loss) margin (32.7%) (7.
Slide 11: GAAP to Non-GAAP reconciliation: Non-GAAP net loss
GAAP to Non-GAAP reconciliation: Non-GAAP net loss Diluted net Diluted net $ in millions Q122 earnings Q121 earnings per share per share GAAP net loss ($78.4) ($0.44) ($24.9) ($0.15) Non-GAAP adjustments: Loss for non-controlling interests ($4.4) (0.02) ($4.9) (0.03) Loss (gain) on derivatives liabi
Slide 12: Calculation of diluted net earnings per share
GAAP to Non-GAAP reconciliation: Calculation of diluted net earnings per share $ in millions Q122 Q121 Numerator: GAAP net loss ($78.4) ($24.9) Non-GAAP net loss ($57.0) ($12.3) Denominator: Weighted-average shares used to compute basic net earnings per share 177.2 170.7 Weighted-average shares used
Slide 13: GAAP to Non-GAAP reconciliation: Adjusted EBITDA
GAAP to Non-GAAP reconciliation: Adjusted EBITDA $ in millions Q122 Q121 GAAP Net loss ($78.4) ($24.9) Non-GAAP adjustments: Loss for non-controlling interests ($4.4) ($4.9) Loss (gain) on derivatives liabilities ($0.5) $0.5 Loss (gain) on the fair value adjustments for certain PPA contracts - ($0.2
Slide 14: GAAP to Non-GAAP reconciliation: Gross margin
GAAP to Non-GAAP reconciliation: Gross margin Q122 Q121 Non- Non- GAAP Non-GAAP GAAP Non-GAAP $ in GAAP GAAP Revenue gross SBC1 gross Revenue gross SBC1 gross millions gross gross profit margin % profit margin % profit profit Product $ 133.5 $ 27.8 $ 2.3 $ 30.1 22.5% $ 137.9 $ 50.6 $ 1.9 $ 52.5 38.1
Slide 15: GAAP to Non-GAAP reconciliation: Operating expenses
GAAP to Non-GAAP reconciliation: Operating expenses $ in millions Q122 Q421 Operating expenses: Research and development $34.5 $26.8 Sales and marketing $21.3 $23.7 General and administrative $37.7 $31.7 Total operating expenses $93.6 $82.2 Stock-based compensation expense: Research and development
Slide 16: What Powers You
What Bloomenergy | Powers You