BLOOM ENERGY Reports 23.8% Revenue Increase for Q2 FY2023, Totaling USD 301.1 Million
August 25, 2023
☀️Earnings Overview
For the second quarter of FY2023, BLOOM ENERGY ($NYSE:BE) reported total revenue of USD 301.1 million, an increase of 23.8% from the same period in the previous year. Net income for the quarter was also much improved compared to the prior year, coming in at USD -66.1 million versus -118.8 million reported last year.
Analysis
GoodWhale has conducted an analysis of BLOOM ENERGY‘s wellbeing, and the results show that it is strong in growth, but medium in asset and weak in dividend and profitability. This is evident by the Star Chart, which shows a low health score of 2/10. This means that BLOOM ENERGY is less likely to safely ride out any crisis without the risk of bankruptcy, given its cashflows and debt. BLOOM ENERGY has been classified as a ‘cheetah’ – a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. This means that it may be an attractive opportunity for investors who are looking for companies with high growth potential, but who are also aware of the associated risks. Investors who are looking for more stability and less risk may not be interested in BLOOM ENERGY. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Bloom Energy. More…
| Total Revenues | Net Income | Net Margin |
| 1.33k | -241.88 | -17.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Bloom Energy. More…
| Operations | Investing | Financing |
| -454.4 | -118.22 | 1.08k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Bloom Energy. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.72k | 2.37k | 1.47 |
Key Ratios Snapshot
Some of the financial key ratios for Bloom Energy are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 19.4% | – | -15.2% |
| FCF Margin | ROE | ROA |
| -43.0% | -35.9% | -4.7% |
Peers
The competition between Bloom Energy Corp and its competitors is fierce. Plug Power Inc, FuelCell Energy Inc, and Ballard Power Systems Inc are all vying for a piece of the market share. Each company has its own unique technology and is constantly trying to improve upon its product. The competition is heating up and it is unclear who will come out on top.
– Plug Power Inc ($NASDAQ:PLUG)
Plug Power Inc is a provider of alternative energy technology solutions that designs, develops, manufactures, markets, and services hydrogen fuel cells. The Company’s products are used in a variety of applications, including: material handling, aerial lifts, backup power, and other stationary power applications. Plug Power Inc has a market cap of $9.55B as of 2022 and a Return on Equity of -13.42%. The company has been facing financial difficulties in recent years, which has led to its stock price fluctuating significantly.
– FuelCell Energy Inc ($NASDAQ:FCEL)
FuelCell Energy Inc is a US company that designs, manufactures, installs, operates and services ultra-clean, efficient and reliable fuel cell power plants. The company has a market capitalization of 1.23 billion as of 2022 and a return on equity of -10.2%. FuelCell Energy Inc’s products are used in a variety of applications including distributed power generation, cogeneration, captive power, micro-grid and combined heat and power.
– Ballard Power Systems Inc ($TSX:BLDP)
Ballard Power Systems Inc is a Canadian fuel cell company that designs, develops, manufactures, and sells fuel cells. The company has a market cap of 2.32B as of 2022 and a Return on Equity of -8.43%. Ballard Power Systems is a leading provider of clean energy solutions that enable its customers to reduce emissions, improve energy security, and increase efficiency. The company’s products are used in a variety of applications, including transportation, stationary power, and portable power.
Summary
Bloom Energy is a publicly traded company that reported strong results in the second quarter of FY2023, with total revenue of USD 301.1 million, a 23.8% year-on-year increase. Net income improved significantly to -66.1 million from -118.8 million in the same period last year. This positive performance is encouraging for investors, who should consider Bloom Energy as a potential investment opportunity.
The company’s outlook appears to be positive and it has a solid foundation for future growth. Investors should continue to monitor the company’s progress, assess management decisions, and keep an eye out for any potential risks or opportunities.
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