AI English summary of an SEC filing — figures as filed
Bloom Energy BEBloom Energy said total revenue for fiscal 2023 increased $134.3 million (11.2%) from the prior year. Product revenue rose $94.6 million, service revenue $32.1 million, electricity revenue $7.0 million and installation revenue $0.7 million.
Key points
AI summaryBloom Energy said total revenue for fiscal 2023 increased $134.3 million (11.2%) from the prior year. Product revenue rose $94.6 million, service revenue $32.1 million, electricity revenue $7.0 million and installation revenue $0.7 million.
The company said net cash used in operating activities for fiscal 2023 was $372.5 million, up $180.8 million from the prior year. It attributed the increase in working capital of $379.4 million to a rise in inventory of $231.7 million and a rise in accounts receivable of $89.8 million.
Bloom Energy said it issued 3% Green Notes on May 16, 2023, raising net cash proceeds of $612.8 million. On March 23, 2023, it issued Series B RCPS to SK ecoplant, raising cash of $311.0 million excluding issuance costs. On September 23, all of the Series B RCPS were converted into Class A common stock.
The company said it had cash and cash equivalents of $664.6 million as of December 31, 2023. On the same date, it had recourse debt of $842.0 million and non-recourse debt of $4.6 million. The company said all of its debt was classified as long-term liabilities.
Key figures
Fiscal year ended December 31, 2023
- Revenue
- $1.3B
- Operating income
- −$209M
- Net income
- −$302M
- EPS
- −$1.42
- Gross profit
- $198M
- Operating cash flow
- −$373M
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Fiscal 2023 total revenue up $134.3 million (11.2%)
Bloom Energy said total revenue for fiscal 2023 increased $134.3 million (11.2%) from the prior year. Product revenue rose $94.6 million, service revenue $32.1 million, electricity revenue $7.0 million and installation revenue $0.7 million.
Source · Based on the MD&A text of the filing
Fiscal 2023 operating cash outflow $372.5 million
The company said net cash used in operating activities for fiscal 2023 was $372.5 million, up $180.8 million from the prior year. It attributed the increase in working capital of $379.4 million to a rise in inventory of $231.7 million and a rise in accounts receivable of $89.8 million.
Source · Based on the MD&A text of the filing
3% Green Notes bring in $612.8 million net cash; Series B RCPS issued
Bloom Energy said it issued 3% Green Notes on May 16, 2023, raising net cash proceeds of $612.8 million. On March 23, 2023, it issued Series B RCPS to SK ecoplant, raising cash of $311.0 million excluding issuance costs. On September 23, all of the Series B RCPS were converted into Class A common stock.
Source · Based on the MD&A text of the filing
Cash $664.6 million, recourse debt $842.0 million as of December 31, 2023
The company said it had cash and cash equivalents of $664.6 million as of December 31, 2023. On the same date, it had recourse debt of $842.0 million and non-recourse debt of $4.6 million. The company said all of its debt was classified as long-term liabilities.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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