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Bloomenergy Bloom Energy Announces Second Quarter 2021 Financial Results Q2 Revenue of $ 228.5 million ; an increase of 21.6 % year - over - year Q2 GAAP Gross Margin of 16.3 % ; Non - GAAP Gross Margin of 18.0 % Q2 GAAP Operating Margin of ( 18.7 % ) ; Non - GAAP Operating Margin of ( 10.3 % ) Q2 GAAP EPS of $ ( 0.31 ) ; Adjusted EPS of $ ( 0.23 ) SAN JOSE , Calif . , August 4 , 2021 -- Bloom Energy Corporation ( NYSE : BE ) today announced financial results for its second quarter ended June 30 , 2021 . Second Quarter Financial Highlights Revenue of $ 228.5 million in the second quarter of 2021 , an increase of 21.6 % compared to revenue of $ 187.9 million in the second quarter of 2020. Product revenue of $ 146.9 million in the second quarter of 2021 , an increase of 26.4 % from the second quarter of 2020 , primarily driven by a 41.5 % increase in acceptances . ● Gross margin of 16.3 % in the second quarter of 2021 , an increase of 2.3 percentage points compared to gross margin of 14.0 % in the second quarter of 2020 , primarily driven by improved product cost and favorable sales mix from growth in product and electricity . Non - GAAP gross margin was 18.0 % in the second quarter of 2021 , an increase of 1.5 percentage points compared to non - GAAP gross margin of 16.5 % in the second quarter of 2020 , primarily driven by improved product cost and favorable sales mix from growth in product and electricity . Operating margin of ( 18.7 % ) in the second quarter of 2021 , a decline of 3.0 percentage points compared to operating margin of ( 15.7 % ) in the second quarter of 2020 , driven by increases in operating expenses to expand our commercial capability , invest in technology and ensure our control environment is ready to scale for growth . Non - GAAP operating margin was ( 10.3 % ) in the second quarter of 2021 , a decrease of 4.5 percentage points compared to non - GAAP operating margin of ( 5.8 % ) in the second quarter of 2020 , driven by increases in operating expenses to expand our commercial capability , invest in technology and ensure our control environment is ready to scale for growth . GAAP EPS of $ ( 0.31 ) and Adjusted EPS of $ ( 0.23 ) in the second quarter of 2021 , compared to GAAP EPS of $ ( 0.34 ) and Adjusted EPS of $ ( 0.23 ) in the second quarter of 2020 , driven by a reduction in interest expenses due to refinancing of our notes at a lower interest rate in 2020 and an increase in outstanding shares . Commenting on the second quarter , KR Sridhar , founder , chairman , and CEO of Bloom Energy said , " We believe there are three key imperatives in the energy market today - resiliency , sustainability and cost predictability . Bloom Energy is uniquely positioned with our Bloom Energy Server to solve these challenges and the global marketplace is recognizing this . We believe our business is poised for growth given the progress we have made in deploying our products and the demand we are seeing from partners and customers around the world . We are investing in our technology , continuing to innovate , and adding people and infrastructure to meet these opportunities in the months and years ahead . " 1