Bloom Energy (BE) FY2020 results: revenue $794 million, up 1.2% on the year
Bloom Energy Corp. (BE) reported revenue of $794 million for fiscal 2020, the year ended 31 December 2020, up 1.2% on the year before. Net income was -$158 million, and diluted earnings per share $-1.14. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$794 million
+1.2% on the year
FY2016FY2020
Operating margin
-10.2%
-29.6% a year earlier
FY2016FY2020
Net income
-$158 million
FY2016FY2020
Diluted EPS
-$1.14
FY2016FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
794
785
633
+1.2%
Cost of revenue
628
688
527
-8.6%
Gross profit
166
97.6
106
+69.9%
Gross margin
20.9%
12.4%
16.7%
Research and development
83.6
104
89.1
-19.8%
Operating income
-80.8
-233
-165
Operating margin
-10.2%
-29.6%
-26.1%
Interest expense
78.8
94.2
106
-16.3%
Pre-tax income
-179
-323
-290
Income tax
0.3
0.6
1.5
-59.6%
Net income
-158
-304
-274
Net margin
-19.8%
-38.8%
-43.2%
Diluted EPS
-$1.14
-$2.67
-$4.54
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
-98.8
164
-91.9
Capital expenditure
37.9
51.1
45.2
-25.7%
Free cash flow
-137
113
-137
Free cash flow margin
-17.2%
14.4%
-21.7%
Cash from investing
-37.9
53.4
-125
Cash from financing
176
-120
317
Depreciation
52.3
78.6
53.9
-33.5%
Share-based compensation
n/a
n/a
180
Diluted shares, weighted
139m
115m
53m
+20.5%
Shares outstanding at period end
n/a
n/a
0
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
78.8
-260
-143
Non-controlling interest
62.2
91.3
125
-31.9%
Redeemable equity
0.0
0.4
0.0
Debt
391
637
741
-38.6%
Operating lease liabilities
41.8
0.0
n/a
Finance lease liabilities
0.3
n/a
n/a
Other liabilities
880
854
798
+3.1%
Total liabilities and equity
1,454
1,323
1,522
+10.0%
Fixed assets
601
607
717
-1.1%
Goodwill
0.0
n/a
n/a
Investments
n/a
0.0
104
Cash and equivalents
247
203
221
+21.8%
Receivables
96.2
37.8
88.8
+154.3%
Inventory
142
110
135
+29.6%
Other assets
369
365
256
+0.9%
Total assets
1,454
1,323
1,522
+10.0%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.