BE
Bloom Energy Corporation87.61
-1.97-2.2%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Tech apps, repeats boost thesis
Q&A reinforced Bloom's backlog strength and 2026 acceleration but spotlighted platform apps like absorption chillers—cutting data center electricity 20% via waste heat, sans HFCs—and battery-free AI load following, impressing prospects. Repeats fuel over two-thirds of C&I revenue, hyperscalers like Oracle expanding. Capacity expands continuously, capital-light with months-long ROI; no M&A distractions. Service hits 20% margins, AI-tuned via trillions of cell hours. Management stayed short-horizon bullish, US-focused amid intl lag. Bloom dodges legacy limits. Investors track hyperscale tech adoption.
Key Stats
Market Cap
20.72BP/E (TTM)
1095.13Basic EPS (TTM)
0.08Dividend Yield
0%Recent Filings
8-K
10-K
FY2025 results
Bloom Energy delivered FY2025 revenue of $2.0B, up 37% y/y, with product sales surging 41% to $1.5B on hyperscaler AI data center demand that accelerated through Q4. Q4 product margins held steady at 35% despite $21.9M Electrolyzer impairments and $12.7M manufacturing asset write-downs, while service margins swung to 10% from fleet optimizations cutting field replacements 29%. Gross margins expanded to 29%, but operating expenses jumped 35% on $62M higher sales/marketing for AI pursuits and $37M R&D ramp. Cash swelled to $2.5B post-$2.5B zero-coupon notes issuance; $600M revolver undrawn. Equity losses from Brookfield JVs hit $40M on intra-entity profit deferral. Supply chain tariffs proved immaterial. Grid delays threaten Q4 momentum.
8-K
Record $2B revenue, backlog triples
8-K
Bloom secures $600M revolver
Bloom Energy inked a $600M senior secured multicurrency revolver with Wells Fargo on December 19, 2025, maturing December 19, 2030. Funds support working capital, capex, permitted acquisitions, and general corporate needs; rates track Term SOFR plus 1.50-2.25% or base rate plus 0.50-1.25%, with covenants capping secured leverage at 3.25x and interest coverage at 3.0x. Lenders secured by most assets, excluding IP.
8-K
Issues $2.5B zero-coupon notes
Bloom Energy issued $2.5B in 0% convertible senior notes due 2030 on November 4, 2025, at $194.97/share conversion price. Concurrently, it exchanged $533M of 2028 notes and $443M of 2029 notes for $988M cash plus 42M shares. Net proceeds fund R&D, manufacturing expansion. Exchange closing hinges on conditions.
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