Bloom Energy $233.5 million of revenue, GAAP gross margin of 22.9%, and a net loss of $34.9 million in Q3 of 2019, as published in the quarterly shareholder letter discussing its third-quarter 2019 financial results and forward estimates. The same report is not accessible through the company’s Investor Relations section on its website.
The California-based energy company promises to make clean, reliable, and affordable energy for everyone in the world. With its flagship product, Bloom Energy Server, the company delivers highly reliable and resilient, ‘Always-On’ electric power that is clean and sustainable, the company’s website reads.
With the new quarterly earnings published by the company, it seems like good numbers are greeting their investors at the start of the fourth quarter of 2019. Aside from high revenue, the company also realized a record 302 acceptances, a 46.6% year-over-year increase, and 11.4% higher than Q2 2019.
In the same report, the company also announced its partnership with California BioEnergy to use dairy waste to create biogas, which will be processed in the Bloom Energy Server to generate renewable energy. The company said that the energy that will be generated by the partnership might be used to power electric vehicles throughout California.
Furthermore, the company also announced through the report that they had chosen Jefferies Group, a leading global investment bank, to manage the refinancing of certain of the company’s debt maturities with a focus on completing this effort in the first half of 2020.
“We generated record Q3 revenue, delivered meaningful adjusted EBITDA, and achieved another quarter of record acceptances. Our primary drivers of success this quarter include installs with new customers in our core industry sectors and expanding relationships with existing customers – which reflects the quality, reliability, and cost-effectiveness of our energy solutions,” said KR Sridhar, Founder, Chairman, and CEO of Bloom Energy. “We continue to enable new features of our technology to open new markets and provide additional options for Bloom’s customers and the industry at large at a time when reliable, clean energy sources are in high demand. We are confident that Bloom Energy Microgrid is the right product, right now, to add to the infrastructure.”