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BE Bloom Energy

Bloom Energy's mission is to make clean, reliable energy affordable for everyone in the world. The company's product, the Bloom Energy Server, delivers highly reliable and resilient, always-on electric power that is clean, cost-effective, and ideal for microgrid applications. Bloom's customers include many Fortune 100 companies and leaders in manufacturing, data centers, healthcare, retail, higher education, utilities, and other industries.

Company profile

Ticker
BE, 0A4L
Exchange
CEO
KR Sridhar
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Clean Technologies II, LLC • Diamond State Generation Holdings, LLC • 2012 V PPA Holdco, LLC • 2012 ESA Project Company, LLC • Clean Technologies 2013B, LLC • 2013B ESA Holdco, LLC • 2014 ESA HoldCo, LLC • 2014 ESA Project Company, LLC • Clean Technologies 2015, LLC • 2015 ESA HoldCo, LLC ...
IRS number
770565408

BE stock data

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Calendar

6 Aug 21
16 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 400.53M 400.53M 400.53M 400.53M 400.53M 400.53M
Cash burn (monthly) (positive/no burn) (positive/no burn) 19.37M 11.44M (positive/no burn) 7.82M
Cash used (since last report) n/a n/a 69.16M 40.84M n/a 27.93M
Cash remaining n/a n/a 331.37M 359.69M n/a 372.6M
Runway (months of cash) n/a n/a 17.1 31.5 n/a 47.6

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
5 Oct 21 Glen Griffiths RSU Class A Common Stock Grant Acquire A No No 0 20,000 0 20,000
30 Sep 21 Glen Griffiths Class A Common Stock Grant Acquire A No No 0 873 0 146,182
30 Sep 21 Sandell Scott D Class A Common Stock Grant Acquire A No No 18.72 1,268 23.74K 53,686
16 Sep 21 Venkataraman Swaminathan Class A Common Stock Sell Dispose S No Yes 18.8792 4,449 83.99K 98,119
16 Sep 21 Sridhar KR Class A Common Stock Sell Dispose S No Yes 18.8782 11,186 211.17K 403,892

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

79.0% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 278 275 +1.1%
Opened positions 48 61 -21.3%
Closed positions 45 48 -6.3%
Increased positions 111 94 +18.1%
Reduced positions 59 80 -26.3%
13F shares
Current Prev Q Change
Total value 9.63B 2.74B +251.0%
Total shares 115.21M 107.65M +7.0%
Total puts 4.33M 4.61M -6.1%
Total calls 2.93M 2.09M +40.3%
Total put/call ratio 1.5 2.2 -33.1%
Largest owners
Shares Value Change
AMP Ameriprise Financial 20.93M $562.38M +23.0%
BLK Blackrock 13.33M $358.31M +77.5%
New Enterprise Associates 10 L P 13.3M $188.41M 0.0%
Vanguard 11.98M $321.82M +3.1%
MS Morgan Stanley 4.81M $129.34M +5.4%
JPM JPMorgan Chase & Co. 3.69M $99.09M +9.7%
STT State Street 2.81M $75.64M +41.8%
WFC Wells Fargo & Co. 2.4M $64.45M +13.5%
Clearbridge Advisors 2.31M $62.15M +0.2%
Geode Capital Management 2.12M $56.97M +27.1%
Largest transactions
Shares Bought/sold Change
BLK Blackrock 13.33M +5.82M +77.5%
FMR 449.44K -4.79M -91.4%
AMP Ameriprise Financial 20.93M +3.91M +23.0%
Renaissance Technologies 328.6K -860.5K -72.4%
STT State Street 2.81M +830.02K +41.8%
Two Sigma Investments 0 -813.45K EXIT
Nuveen Asset Management 2.12M +717.98K +51.4%
Susquehanna International 25.71K -473.84K -94.9%
BAC Bank Of America 1.17M +457.07K +63.9%
Geode Capital Management 2.12M +452.65K +27.1%

Financial report summary

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Competition
Capstone Green Energy
Risks
  • Our products involve a lengthy sales and installation cycle, and if we fail to close sales on a regular and timely basis, our business could be harmed.
  • Our Energy Servers have significant upfront costs, and we will need to attract investors to help customers finance purchases.
  • The economic benefits of our Energy Servers to our customers depend on the cost of electricity available from alternative sources, including local electric utility companies, and such cost structure is subject to change.
  • If we are not able to continue to reduce our cost structure in the future, our ability to become profitable may be impaired.
  • We rely on interconnection requirements and net metering arrangements that are subject to change.
  • We currently face and will continue to face significant competition.
  • We derive a substantial portion of our revenue and backlog from a limited number of customers, and the loss of or a significant reduction in orders from a large customer could have a material adverse effect on our operating results and other key metrics.
  • Our ability to develop new products and enter into new markets could be negatively impacted if we are unable to identify partners to assist in such development or expansion, and our products may not be successful if we are unable to maintain alignment with evolving industry standards and requirements.
  • Our business has been and continues to be adversely affected by the COVID-19 pandemic.
  • Our future success depends in part on our ability to increase our production capacity, and we may not be able to do so in a cost-effective manner.
  • If our Energy Servers contain manufacturing defects, our business and financial results could be harmed.
  • If our estimates of the useful life for our Energy Servers are inaccurate or we do not meet our performance warranties and performance guaranties, or if we fail to accrue adequate warranty and guaranty reserves, our business and financial results could be harmed.
  • Our business is subject to risks associated with construction, utility interconnection, cost overruns and delays, including those related to obtaining government permits and other contingencies that may arise in the course of completing installations.
  • Any significant disruption in the operations at our headquarters or manufacturing facilities could delay the production of our Energy Servers, which would harm our business and results of operations.
  • The failure of our suppliers to continue to deliver necessary raw materials or other components of our Energy Servers in a timely manner and to specification could prevent us from delivering our products within required time frames and could cause installation delays, cancellations, penalty payments and damage to our reputation.
  • We have, in some instances, entered into long-term supply agreements that could result in insufficient inventory and negatively affect our results of operations.
  • We, and some of our suppliers, obtain capital equipment used in our manufacturing process from sole suppliers and, if this equipment is damaged or otherwise unavailable, our ability to deliver our Energy Servers on time will suffer.
  • Possible new trade tariffs could have a material adverse effect on our business.
  • A failure to properly comply (or to comply properly) with foreign trade zone laws and regulations could increase the cost of our duties and tariffs.
  • Our business currently benefits from the availability of rebates, tax credits and other financial programs and incentives, and the reduction, modification, or elimination of such benefits could cause our revenue to decline and harm our financial results.
  • We rely on tax equity financing arrangements to realize the benefits provided by ITCs and accelerated tax depreciation and in the event these programs are terminated, our financial results could be harmed.
  • We are subject to various national, state and local laws and regulations that could impose substantial costs upon us and cause delays in the delivery and installation of our Energy Servers.
  • The installation and operation of our Energy Servers are subject to environmental laws and regulations in various jurisdictions, and there is uncertainty with respect to the interpretation of certain environmental laws and regulations to our Energy Servers, especially as these regulations evolve over time.
  • As a technology that runs, in part, on fossil fuel, we may be subject to a heightened risk of regulation, to a potential for the loss of certain incentives, and to changes in our customers’ energy procurement policies.
  • Existing regulations and changes to such regulations impacting the electric power industry may create technical, regulatory, and economic barriers, which could significantly reduce demand for our Energy Servers or affect the financial performance of current sites.
  • We may become subject to product liability claims, which could harm our financial condition and liquidity if we are not able to successfully defend or insure against such claims.
  • Our failure to protect our intellectual property rights may undermine our competitive position, and litigation to protect our intellectual property rights may be costly.
  • Our patent applications may not result in issued patents, and our issued patents may not provide adequate protection, either of which may have a material adverse effect on our ability to prevent others from commercially exploiting products similar to ours.
  • We may need to defend ourselves against claims that we infringed, misappropriated, or otherwise violated the intellectual property rights of others, which may be time-consuming and would cause us to incur substantial costs.
  • We have incurred significant losses in the past and we may not be profitable for the foreseeable future.
  • Our financial condition and results of operations and other key metrics are likely to fluctuate on a quarterly basis in future periods, which could cause our results for a particular period to fall below expectations, resulting in a severe decline in the price of our Class A common stock.
  • If we fail to manage our growth effectively, our business and operating results may suffer.
  • If we fail to maintain effective internal control over financial reporting in the future, the accuracy and timing of our financial reporting may be adversely affected.
  • Our ability to use our deferred tax assets to offset future taxable income may be subject to limitations that could subject our business to higher tax liability.
  • We must maintain the confidence of our customers in our liquidity, including in our ability to timely service our debt obligations and in our ability to grow our business over the long-term.
  • We may not be able to generate sufficient cash to meet our debt service obligations.
  • Under some circumstances, we may be required to or elect to make additional payments to our PPA Entities or the Equity Investors.
  • We may have conflicts of interest with our PPA Entities.
  • If we are unable to attract and retain key employees and hire qualified management, technical, engineering, finance and sales personnel, our ability to compete and successfully grow our business could be harmed.
  • A breach or failure of our networks or computer or data management systems could damage our operations and our reputation.
  • The stock price of our Class A common stock has been and may continue to be volatile.
  • The dual class structure of our common stock and the voting agreements among certain stockholders have the effect of concentrating voting control of our Company with KR Sridhar, our Chairman and Chief Executive Officer, and also with those stockholders who held our capital stock prior to the completion of our initial public offering, which limits or precludes your ability to influence corporate matters and may adversely affect the trading price of our Class A common stock.
  • We do not intend to pay dividends for the foreseeable future.
  • Provisions in our charter documents and under Delaware law could make an acquisition of us more difficult, may limit attempts by our stockholders to replace or remove our current management, may limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or employees, and may limit the market price of our Class A common stock.
Management Discussion
  • We created the first large-scale, commercially viable solid oxide fuel-cell based power generation platform that provides clean and resilient power to businesses, essential services, and critical infrastructure. Our technology, invented in the United States, is the most advanced thermal electric generation technology on the market today. Our fuel-flexible Bloom Energy Servers can use biogas and hydrogen, in addition to natural gas, to create electricity at significantly higher efficiencies than traditional, combustion-based resources. In addition, our fuel cell technology can be used to create hydrogen, which is increasingly recognized as a critically important tool necessary for the full decarbonization of the energy economy. Our enterprise customers are among the largest multinational corporations who are leaders in adopting new technologies. We also have strong relationships with some of the largest utility companies in the United States and the Republic of Korea.
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Good
New words: attend, biased, break, categorized, CiC, COBRA, Codification, concurrent, constraint, creation, declaratory, Delta, deposit, derecognized, disability, displace, distraction, East, encourage, Evidence, excise, executory, feedstock, fewer, fluid, frame, good, Guillermo, heat, Holdco, injunctive, Jose, longevity, lump, mandate, masking, mediation, Middle, multinational, outright, persist, promise, promised, prorated, RAD, recommendation, reimbursed, reseller, resignation, revoking, startup, substance, suitable, vacated, variant, workmanship, writ, yield
Removed: acquiring, actively, aggressively, asymptomatic, attaining, avoided, calculated, capitalized, confusion, Constellation, contact, core, cumulative, deny, dispersed, doubtful, easily, eliminate, emitted, employ, engineered, exacerbate, exceeded, exercise, expired, expropriation, forecast, generator, govern, hazard, host, illegal, indirectly, ineligible, instability, internalized, LC, listed, magnitude, methodology, mobility, modeling, multiplied, nationalization, notify, notwithstanding, pace, people, person, phase, pollution, practicable, presenting, prohibited, prolonged, promissory, proximity, pursue, rapidly, receiving, reevaluated, repaid, resilience, returning, reward, rolling, send, shelter, shift, shortened, shown, simulated, slowly, solidify, sourced, Southern, strict, strife, test, testing, transmit, treat, true, uncompetitive, unobservable, upgraded, usage, warranted, weaker, wear

Patents

APP
Utility
Methods for Manufacturing Fuel Cell Interconnects Using 3D Printing
7 Oct 21
A method of forming a fuel cell interconnect includes depositing a Cr alloy powder, sintering the Cr alloy powder, and repeating the depositing and the sintering to form the fuel cell interconnect.
GRANT
Utility
Method of providing a functionally graded composite layer for coefficient of thermal expansion compliance in solid oxide fuel cell stacks and system components
28 Sep 21
A buffer layer between an interconnect and an electrolyte of a solid oxide fuel cell, the buffer layer having a gradient in coefficient of thermal expansion (CTE), wherein the buffer layer minimizes electrolyte damage due to a difference in CTE between the interconnect and electrolyte.
GRANT
Utility
Power system integrated with dual power electrical load
21 Sep 21
A system and method of provided power to one or more electrical loads of an electrical load module is provided.
APP
Utility
Interconnect for Fuel Cell Stack
2 Sep 21
Various embodiments include fuel cell interconnects having a fuel distribution portion having an inlet opening, a fuel collection portion having an outlet opening, and a primary fuel flow field containing channels, wherein the fuel distribution portion comprises at least one raised feature defining a fuel distribution flow path, and the fuel distribution flow path is not continuous with the channels in the primary fuel flow field.
APP
Utility
Fault Tolerant Electrical Architecture for Fuel Cell Systems
19 Aug 21
During a steady-state mode of operating a fuel cell system, a system power is generated by fuel cells and is provided via a steady-state bus to a first BOP load, to a second BOP load, and to a power grid via a transformer and via at least one of a bi-directional first inverter or a bi-directional second inverter.