Bloom Energy Corp

NYSE:BEUnited States

Nov 7, 2024

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• -- Earnings Flash (BE) BLOOM ENERGY Reports Q3 Loss $-0.01, from 4:35PM ET on Thursday Nov 07, 2024 by MT Newswires

  4:35PM ET on Thursday Nov 07, 2024 by MT Newswires
  Companies Mentioned: BE
  04:35 PM EST, 11/07/2024 (MT Newswires) -- ...

• -- Earnings Flash (BE) BLOOM ENERGY Reports Q3 Revenue $330.4M, from 4:35PM ET on Thursday Nov 07, 2024 by MT Newswires

  4:35PM ET on Thursday Nov 07, 2024 by MT Newswires
  Companies Mentioned: BE
  04:35 PM EST, 11/07/2024 (MT Newswires) -- ...

• Bloom Energy Reports Third Quarter 2024 Financial Results, from 4:30PM ET on Thursday Nov 07, 2024 by Dow Jones

  4:30PM ET on Thursday Nov 07, 2024 by Dow Jones
  Companies Mentioned: BE
  -- Stock-based compensation expense consists of equity awards granted based on the estimated fair value of those awards at grant date. Although stock-based compensation is a key incentive offered to our employees, Bloom Energy excludes these charges for the purpose of calculating these non-GAAP measures, primarily because they are non-cash expenses and such an exclusion facilitates a more meaningful evaluation of Bloom Energy current operating performance and comparisons to Bloom Energy operating performance in other periods. -- Gain on failed sale-and-leaseback transactions of $5.0 million as a result of termination of four Managed Services sites. -- Loss on derivatives liabilities represents non-cash adjustments to the fair value of the embedded derivatives. -- Impairment of assets represents non-cash impairment charge on decommissioned server units upon repowering of $123.7 million and non-cash impairment charge on non-recoverable production insurance of $6.4 million, both as a result of PPA V repowering, which commenced in the third quarter of fiscal year 2023. -- Interest expense on SK loan commitment recognized as a result of automatic conversion of 13.5 million shares of our Series B redeemable convertible preferred stock to shares of our Class A common stock in the third quarter of fiscal year 2023. -- Loss on debt extinguishment for the three months ended June 30, 2024, related to the partial repurchase of the 2.5% Green Convertible Senior Notes due August 2025 and comprised of 22.6% premium upon partial repurchase of $26.0 million and $1.2 million of debt issuance cost write-off. Loss on extinguishment of debt for the three months ended September 30, 2023, of $1.4 million was recognized as a result of the repayment on August 24, 2023, of 3.04% Senior Secured Notes due June 2031 as part of the PPA V repowering, and consists in its entirety of derecognition of debt issuance costs. -- Restructuring charges and reversals, if any, are represented by severance expense, facility closure costs, and others. -- Other represents (1) PPA V sales property tax of $1.6 million related to PPA V repowering of old server units, which commenced in the third quarter of fiscal year 2023; (2) site termination costs of $0.4 million and $0.7 million for the three months ended June 30, 2024, and the three months ended September 30, 2024, respectively; and (3) immaterial amounts of quarterly amortization of acquired intangible assets. -- Adjusted EBITDA is defined as Adjusted Net (Loss) Profit before depreciation and amortization expense, provision for income tax provision, interest expense, other income (expense), net. We use Adjusted EBITDA to measure the operating performance of our business, excluding specifically identified items that we do not believe directly reflect our core operations and may not be indicative of our recurring operations.For more information about these non-GAAP financial measures, please see the tables captioned "Reconciliation of GAAP to Non-GAAP Financial Measures," "Reconciliation of GAAP Net Loss to non-GAAP Net (Loss) Income and Computation of non-GAAP Net (Loss) Earnings per Share (EPS)," and "Reconciliation of GAAP Net Loss to Adjusted EBITDA" set forth in this release, which should be read together with the preceding financial statements prepared in accordance with GAAP.