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Bloom Energy | 10-Q: Q3 2024 Earnings Report

Bloom Energy | 10-Q: Q3 2024 Earnings Report

Bloom Energy | 10-Q:2024财年三季报
美股SEC公告 ·  2024/11/08 06:29

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Bloom Energy reported Q3 2024 revenue of $330.4 million, down 17.5% year-over-year, with a net loss of $14.6 million. Product revenue declined 23.3% to $233.8 million, while service revenue increased 6.8% to $50.8 million. The company maintained a gross margin of 24%, up from -1% in Q3 2023.Operating expenses decreased 10.3% to $88.4 million, reflecting cost reduction initiatives and restructuring efforts. The company strengthened its financial position by issuing $402.5 million in 3% Green Notes due 2029 and using $141.8 million to partially repurchase existing notes. Cash and cash equivalents stood at $495.7 million as of September 30, 2024.The company faces challenges including lengthening sales cycles and regulatory uncertainties around the Investment Tax Credit expiration. Management noted that shifting energy market conditions and customer preferences for zero-carbon solutions are impacting power solution selling opportunities, while demand for data center power solutions remains strong amid grid connection delays.
Bloom Energy reported Q3 2024 revenue of $330.4 million, down 17.5% year-over-year, with a net loss of $14.6 million. Product revenue declined 23.3% to $233.8 million, while service revenue increased 6.8% to $50.8 million. The company maintained a gross margin of 24%, up from -1% in Q3 2023.Operating expenses decreased 10.3% to $88.4 million, reflecting cost reduction initiatives and restructuring efforts. The company strengthened its financial position by issuing $402.5 million in 3% Green Notes due 2029 and using $141.8 million to partially repurchase existing notes. Cash and cash equivalents stood at $495.7 million as of September 30, 2024.The company faces challenges including lengthening sales cycles and regulatory uncertainties around the Investment Tax Credit expiration. Management noted that shifting energy market conditions and customer preferences for zero-carbon solutions are impacting power solution selling opportunities, while demand for data center power solutions remains strong amid grid connection delays.
Bloom Energy报告2024年第三季度营业收入为33040万美元,同比下降17.5%,净亏损为1460万美元。产品收入下降23.3%至23380万美元,而服务收入增长6.8%至5080万美元。公司维持了24%的毛利率,高于2023年第三季度的-1%。营业费用减少10.3%至8840万美元,反映出成本控制措施和重组工作。公司通过发行40250万美元的3%绿色票据(到期日为2029年)并用14180万美元部分回购已有票据,增强了其财务状况。截止2024年9月30日,现金及现金等价物为49570万美元。公司面临的挑战包括销售周期延长和关于投资税收抵免到期的监管不确定性。管理层指出,能源市场条件的变化和客户对零碳解决方案的偏好影响了电力解决方案的销售机会,同时在电网连接延迟的背景下,数据中心电力解决方案的需求仍然强劲。
Bloom Energy报告2024年第三季度营业收入为33040万美元,同比下降17.5%,净亏损为1460万美元。产品收入下降23.3%至23380万美元,而服务收入增长6.8%至5080万美元。公司维持了24%的毛利率,高于2023年第三季度的-1%。营业费用减少10.3%至8840万美元,反映出成本控制措施和重组工作。公司通过发行40250万美元的3%绿色票据(到期日为2029年)并用14180万美元部分回购已有票据,增强了其财务状况。截止2024年9月30日,现金及现金等价物为49570万美元。公司面临的挑战包括销售周期延长和关于投资税收抵免到期的监管不确定性。管理层指出,能源市场条件的变化和客户对零碳解决方案的偏好影响了电力解决方案的销售机会,同时在电网连接延迟的背景下,数据中心电力解决方案的需求仍然强劲。
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