Bloom Energy Corporation reported Q2 2024 revenue of $335.8 million, up 11.5% year-over-year, driven by increased product acceptances and service revenue growth. Product revenue rose 5.4% to $226.3 million on 11.1% higher acceptances, while service revenue increased 24.2% to $52.5 million. However, the company recorded a net loss of $61.2 million compared to a $69.1 million loss in Q2 2023.The company strengthened its financial position by issuing $402.5 million in 3% Green Convertible Senior Notes due 2029, using $141.8 million of the proceeds to partially repurchase existing notes. Gross margin improved to 20% from 19% year-over-year, while operating expenses decreased 17.3% to $91.7 million due to restructuring efforts and cost reduction initiatives implemented in 2023.Looking ahead, Bloom faces challenges including ITC expiration uncertainty, shifting regulatory environments, and extended sales cycles. The company ended the quarter with $581.7 million in cash and cash equivalents, maintaining that current resources are sufficient for operational needs over the next 12 months. Management continues to focus on expanding manufacturing capacity while implementing cost reduction programs.

Bloom Energy Corporation reported Q2 2024 revenue of $335.8 million, up 11.5% year-over-year, driven by increased product acceptances and service revenue growth. Product revenue rose 5.4% to $226.3 million on 11.1% higher acceptances, while service revenue increased 24.2% to $52.5 million. However, the company recorded a net loss of $61.2 million compared to a $69.1 million loss in Q2 2023.The company strengthened its financial position by issuing $402.5 million in 3% Green Convertible Senior Notes due 2029, using $141.8 million of the proceeds to partially repurchase existing notes. Gross margin improved to 20% from 19% year-over-year, while operating expenses decreased 17.3% to $91.7 million due to restructuring efforts and cost reduction initiatives implemented in 2023.Looking ahead, Bloom faces challenges including ITC expiration uncertainty, shifting regulatory environments, and extended sales cycles. The company ended the quarter with $581.7 million in cash and cash equivalents, maintaining that current resources are sufficient for operational needs over the next 12 months. Management continues to focus on expanding manufacturing capacity while implementing cost reduction programs.