Summary by Moomoo AI
Bloom Energy reported Q2 2024 revenue of $335.8 million, up 11.5% year-over-year. Gross margin improved to 20.4% from 18.7% in Q2 2023. The company posted an operating loss of $23.1 million, a $31.3 million improvement from the previous year.Key highlights include strengthening the balance sheet through 3% convertible green notes issuance, an agreement with CoreWeave for AI data center power, and municipal approval for powering AWS data centers. CEO KR Sridhar noted high commercial interest in Bloom's products amid growing electricity demand.Bloom Energy reaffirmed its 2024 guidance, projecting revenue of $1.4-$1.6 billion, non-GAAP gross margin of ~28%, and non-GAAP operating income of $75-$100 million. The company remains confident in its commercial pipeline and execution capabilities.