In This Article:
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Revenue: $326 million, up 39% year-over-year.
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Gross Margin: 28.7%, over 1,000 basis points higher than Q1 2024's 17.5%.
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Operating Income: Positive $13.2 million, compared to a $30.7 million deficit in Q1 2024.
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EBITDA: $25.2 million, versus a negative $18.2 million in Q1 2024.
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EPS: $0.03 per share, compared to a loss of $0.17 per share a year ago.
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Service Profitability: Profitable for the fifth consecutive quarter.
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2025 Revenue Guidance: $1.65 billion to $1.85 billion.
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2025 Non-GAAP Gross Margin Guidance: Approximately 29%.
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2025 Non-GAAP Operating Income Guidance: Approximately $150 million.
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Cash Flow from Operations: Expected to be around the same levels as 2024.
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CapEx: Expected to be around the same levels as 2024.
Release Date: April 30, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Bloom Energy Corp (NYSE:BE) reported record revenue for the first quarter of 2025, marking the best first quarter in the company's 24-year history.
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The company achieved its first-ever positive Q1 non-GAAP EPS and its fifth consecutive quarter of service profitability.
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Bloom Energy Corp (NYSE:BE) has a diversified customer base across sectors and geographies, which provides resilience against economic fluctuations.
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The company is not dependent on China for its supply chain, which helps mitigate the impact of tariffs.
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Bloom Energy Corp (NYSE:BE) is experiencing strong demand from AI data centers and large industrial operations, with no slowdown in these sectors.
Negative Points
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The consumer-facing segment of Bloom Energy Corp (NYSE:BE)'s commercial and industrial business may experience delays in decision-making due to economic uncertainty.
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There is a potential 100 basis point impact on gross margin due to tariffs, although the company is working to mitigate this.
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The departure of CFO Dan Berenbaum could create temporary uncertainty in financial leadership.
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The company faces challenges in expanding its international presence beyond Korea, with growth still off a small base.
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Some projects may experience timing shifts due to supply chain issues and policy uncertainties, potentially affecting revenue recognition.
Q & A Highlights
Q: Are you seeing any impact on the timing of pipeline conversion for data centers due to supply chain issues or policy uncertainty? Also, how are tariffs affecting your margin guidance? A: K.R. Sridhar, CEO: We have strong confidence in our ability to meet guidance despite potential project timing shifts. The demand for on-site power is clear, and we are a viable solution. Regarding tariffs, we expect up to a 100 basis point impact on gross margin, but we are committed to maintaining our 29% margin guidance through cost reduction efforts.