Bloom Energy (BE) FY2019 results: revenue $785 million, up 24.1% on the year
Bloom Energy Corp. (BE) reported revenue of $785 million for fiscal 2019, the year ended 31 December 2019, up 24.1% on the year before. Net income was -$304 million, and diluted earnings per share $-2.67. The figures are the company's own, from the 10-K it filed with the SEC on 31 March 2020.
Revenue
$785 million
+24.1% on the year
FY2016FY2019
Operating margin
-29.6%
-26.1% a year earlier
FY2016FY2019
Net income
-$304 million
FY2016FY2019
Diluted EPS
-$2.67
FY2016FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
785
633
366
+24.1%
Cost of revenue
688
527
382
+30.5%
Gross profit
97.6
106
-16.3
-7.7%
Gross margin
12.4%
16.7%
-4.5%
Research and development
104
89.1
51.1
+16.9%
Operating income
-233
-165
-155
Operating margin
-29.6%
-26.1%
-42.4%
Interest expense
94.2
106
124
-11.0%
Pre-tax income
-323
-290
-294
Income tax
0.6
1.5
0.6
-58.8%
Net income
-304
-274
-276
Net margin
-38.8%
-43.2%
-75.6%
Diluted EPS
-$2.67
-$4.54
-$25.62
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
164
-91.9
-92.0
Capital expenditure
51.1
45.2
61.5
+12.9%
Free cash flow
113
-137
-153
Free cash flow margin
14.4%
-21.7%
-42.0%
Cash from investing
53.4
-125
-88.2
Cash from financing
-120
317
143
Depreciation
78.6
53.9
54.4
+45.8%
Share-based compensation
n/a
180
30.5
Diluted shares, weighted
115m
53m
10m
+116.1%
Shares outstanding at period end
n/a
0
10m
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
-260
-143
-2,180
Non-controlling interest
91.3
125
155
-27.0%
Redeemable equity
0.4
0.0
1,466
Debt
637
741
941
-14.1%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
854
798
838
+7.0%
Total liabilities and equity
1,323
1,522
1,221
-13.1%
Fixed assets
607
717
498
-15.3%
Investments
0.0
104
26.8
Cash and equivalents
203
221
104
-8.1%
Receivables
37.8
88.8
30.3
-57.4%
Inventory
110
135
90.3
-19.0%
Other assets
365
256
472
+42.7%
Total assets
1,323
1,522
1,221
-13.1%
10-K for the year ended 31 December 2019, filed 31 March 2020: the filing.