Bloom Energy Corporation Q4 FY2025 Earnings Call

· Earnings call transcript and AI-powered summary

Key Highlights

  • Bloom Energy delivered its strongest year to date, achieving record full‑year revenue, gross margin, and operating margin.
  • Product backlog increased 140% year over year to approximately $6 billion.
  • Service backlog stands at roughly $14 billion, with eight consecutive quarters of service profitability.
  • Rapid adoption of on‑site power driven by data center growth, AI workloads, automation, and reshoring trends.
  • Major shift in U.S. backlog mix: more than 80% now comes from lower‑cost states outside California and the Northeast (vs. over 80% concentrated there two years ago).
  • Bloom emphasized its rapid deployment capabilities, including a hyperscale AI factory installation completed in 55 days.

Financial Performance (Q4 2025)

  • Revenue: $777.7 million, up 35.9% year over year.
  • Gross margin: 31.9%, down vs. 39.3% in Q4 2024 due to project mix.
  • Operating income: $133 million, roughly flat vs. $133.4 million in Q4 2024.
  • Adjusted EBITDA: $146.1 million, compared to $147.3 million in Q4 2024.
  • Non‑GAAP EPS: $0.45 (vs. $0.43 last year).
  • Product margin: 37%. Service margin: ~20%, the first time reaching this level.
  • Total cash: $2.5 billion following convertible bond issuance.
  • Operating cash flow: +$113.9 million. CapEx: $57 million.

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Desiree: Ladies and gentlemen, thank you for standing by. My name is Desiree, and I will be your conference operator today. At this time, I would like to welcome everyone to the Bloom Energy Fourth Quarter 2025 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question again, press the star one. I would now like to turn the conference over to Michael Tierney, Vice President of Investor Relations. You may begin. Thank you, and good afternoon, everybody. Michael Tierney: Thank you for joining us for Bloom Energy's fourth quarter and full year 2025 earnings call. To supplement this conference call, we furnished our fourth quarter and full year 2025 earnings press release with the SEC on Form 8-Ks and have posted along with supplemental financial information that we will reference throughout this call to our investor relations website. During this conference call, both in our prepared remarks and in answers to your questions, we may make forward-looking statements that represent our expectations regarding future events, and our future financial performance. These include statements about the company's business results, products, new markets, strategy, financial position, liquidity, and full year outlook for

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional