Bloom Energy Corp
For the period ended Dec 31, 2023. Filed Feb 15, 2024.
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FY2023 · Filed Feb 15, 2024
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Consolidated Statements of Operations
(in thousands, except per share data)
| Years Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Revenue: | |||
| Product | $975,245 | $880,664 | $663,512 |
| Installation | 92,796 | 92,120 | 96,059 |
| Service | 183,065 | 150,954 | 144,184 |
| Electricity | 82,364 | 75,387 | 68,421 |
| Total revenue1 | 1,333,470 | 1,199,125 | 972,176 |
| Cost of revenue: | |||
| Product | 630,105 | 616,178 | 471,654 |
| Installation | 105,735 | 104,111 | 110,214 |
| Service | 220,927 | 168,491 | 148,286 |
| Electricity | 178,909 | 162,057 | 44,441 |
| Total cost of revenue2 | 1,135,676 | 1,050,837 | 774,595 |
| Gross profit | 197,794 | 148,288 | 197,581 |
| Operating expenses: | |||
| Research and development | 155,865 | 150,606 | 103,396 |
| Sales and marketing | 89,961 | 90,934 | 86,499 |
| General and administrative3 | 160,875 | 167,740 | 122,188 |
| Total operating expenses | 406,701 | 409,280 | 312,083 |
| Loss from operations | (208,907) | (260,992) | (114,502) |
| Interest income | 19,885 | 3,887 | 262 |
| Interest expense4 | (108,299) | (53,493) | (69,025) |
| Other (expense) income, net | (2,793) | 4,998 | (8,139) |
| Loss on extinguishment of debt | (4,288) | (8,955) | — |
| (Loss) gain on revaluation of embedded derivatives | (1,641) | 566 | (919) |
| Loss before income taxes | (306,043) | (313,989) | (192,323) |
| Income tax provision | 1,894 | 1,097 | 1,046 |
| Net loss | (307,937) | (315,086) | (193,369) |
| Less: Net loss attributable to noncontrolling interest | (5,821) | (13,378) | (28,896) |
| Net loss attributable to common stockholders | (302,116) | (301,708) | (164,473) |
| Less: Net loss attributable to redeemable noncontrolling interest | — | (300) | (28) |
| Net loss before portion attributable to redeemable noncontrolling interest and noncontrolling interest | $(302,116) | $(301,408) | $(164,445) |
| Net loss per share available to common stockholders, basic and diluted | $(1.42) | $(1.62) | $(0.95) |
| Weighted average shares used to compute net loss per share available to common stockholders, basic and diluted | 212,681 | 185,907 | 173,438 |
1 Including related party revenue of $487.2 million, $36.3 million and $16.0 million for the years ended December 31, 2023, 2022 and 2021, respectively.
2 Including related party cost of revenue of $0.1 million for the year ended December 31, 2023. There wasno related party cost of revenue for the years ended December 31, 2022 and 2021.
3 Including related party general and administrative expenses of $0.8 million for the year ended December 31, 2023. There wereno related party general and administrative expenses for the years ended December 31, 2022 and 2021.
4 Including related party interest expense of $0.1 million for the year ended December 31, 2023. There wasno related party interest expense for the years ended December 31, 2022 and 2021.
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