Earnings release
Page 1
■ Q3 Revenue of $ 207.2 million ; an increase of 3.5 % year - over - year Q3 GAAP Gross Margin of 17.8 % ; Non - GAAP Gross Margin of 19.2 % Record number of third quarter acceptances Successfully launched Bloom Electrolyzer and Hydrogen Energy Server SAN JOSE , Calif . , November 4 , 2021 -- Bloom Energy Corporation ( NYSE : BE ) today announced financial results for its third quarter ended September 30 , 2021 . Third Quarter Highlights Record acceptances of 353 systems in the third quarter of 2021 , an increase of 12.4 % versus the third quarter of 2020 . ■ ■ Bloomenergy ■ Bloom Energy Announces Third Quarter 2021 Financial Results Revenue of $ 207.2 million in the third quarter of 2021 , an increase of 3.5 % compared to revenue of $ 200.3 million in the third quarter of 2020. Revenue up 11.4 % excluding a $ 14.2 million prior year one - time revenue benefit that did not repeat . Launched commercial availability of Bloom Electrolyzer and Hydrogen Energy Server starting in 2022 to establish leadership position in unlocking a net zero emissions future . Further buildout of our gigawatt factory in Fremont , California to meet future customer demand is on schedule . On October 25 , 2021 , Bloom ergy and SK ecoplant announced an expansion of their strategic partnership to accelerate hydrogen commercialization . Commenting on the third quarter , KR Sridhar , founder , chairman , and CEO of Bloom Energy said , " We are excited about our new and enhanced strategic partnership with SK ecoplant , which further validates our technology . It also provides real revenue for the long term and an equity investment in the near term that will enable us to accelerate our growth in our current products and hydrogen electrolyzers around the world . As we look at the challenges of sustainability , resiliency , and cost predictability that our customers face , we are confident that these are not ' either / or ' choices . They are " and " propositions , which we are best positioned to solve with our fuel cell technology platform . " Greg Cameron , executive vice president and CFO of Bloom Energy added , " Blo Energy is executing well in a challenging environment . We achieved record third quarter acceptances , expanded our hydrogen product offering and are continuing to build our manufacturing capacity . Our recently announced expansion of the SK ecoplant partnership provides the capability to accelerate investment in our expanding platform . " 1