Bloom Energy ( (BE) ) has released its Q4 earnings. Here is a breakdown of the information Bloom Energy presented to its investors.
Bloom Energy Corporation, a leader in the distributed generation of electricity and hydrogen, reported its financial results for the fourth quarter and full year 2024, showcasing significant growth in revenue and profitability. The company is recognized for its solid oxide platform that empowers businesses and communities to manage their power needs responsibly.
In its latest earnings report, Bloom Energy announced record revenue of $1.47 billion for the full year 2024, marking a 10.5% increase from the previous year. The fourth quarter alone saw a revenue surge of 60.4% year-over-year, reaching $572.4 million. The company also reported a substantial improvement in gross margins and operating income, reflecting its strong financial performance.
Key highlights from the report include a 67.2% increase in product and service revenue for the fourth quarter compared to the same period in 2023. The gross margin for the quarter improved by 12.4 percentage points year-over-year, reaching 38.3%. Additionally, Bloom Energy achieved an operating income of $104.7 million in the fourth quarter, a significant improvement from the previous year.
For the full year 2024, Bloom Energy’s operating income improved by $231.8 million compared to 2023, transitioning from a loss to a positive figure. The company generated $92.0 million in cash flow from operating activities, further strengthening its financial position.
Looking ahead, Bloom Energy’s management remains optimistic about continued growth in 2025, with expectations of a 19% revenue increase at the midpoint of their guidance. The company plans to invest prudently to support this growth while focusing on increasing profitability and generating positive cash flow.