Bloom Energy Corporation 10-Q filed Jul 31, 2025

Modified · OPERATIONS

This Quarterly Report on Form 10-Q contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates, and projections about our industry, management’s beliefs, and certain assumptions made by management. For example, forward-looking statements include, but are not limited to, our plans and expectations regarding future financial results, including our expectations regarding: our ability to expand into and be successful in the AI data center market and new international markets; our ability to innovate, including the hydrogen marketdevelop new products and improve upon our existing products; our expanded ability to anticipate and address customer demand; our strategic partnership with SK ecoplant Co., Ltd.; statements about our supply chain (including any direct or indirect effects from the Russia-Ukraine war, armed conflict in the Middle Eastcompetitive position in the energy market for on-site power; future deployment of our Bloom Energy Server systems, or geopolitical developments in China)Bloom Electrolyzers, and other solutions; operating results; the sufficiency our ability to increase efficiency of our cash,products; our cash flows from operating activities and our liquidity and our ability to obtain financing; projected costs and cost reductionsability to market our products successfully in connection with the global energy transition and shifting attitudes around climate change; development of new products our business strategy and improvements toplans and our existing products; our manufacturing capacity and manufacturing costsobjectives for future operations; operating results; the adequacysufficiency of our agreements with cash, our suppliers; legislative actions and regulatorycash flows from operating activities, and environmental compliance; impact of the IRA, including expiration of the Investment Tax Credit with respectour liquidity and our ability to obtain financing; projected costs and cost reductions; our ability to fuel cells running on non-zero carbon fuels and transferabilityincrease production capacity and achieve cost reductions; the adequacy of tax credits onour agreements with our businesssuppliers; competitive position; management’s plans and objectives for future operations; our ability to comply with debt covenants or cure defaults, if any; our ability to repay our debt obligations as they come due; trends in average selling prices; the success of our customer financing arrangements and ability to secure financiers; capital expenditures; warranty matters; outcomes of litigation; our exposure to foreign exchange, interest and credit risk; general business and macroeconomic conditions in support customer financing needs for our markets including inflationary pressureproduct deployment; trade policies including tariffscapital expenditures; industry trendswarranty matters; the impact outcomes of changes in government incentiveslitigation; risks related to cybersecurity breaches, privacy and data security; the likelihood of any impairment of project assets, long-lived assets and investments; trends in revenue, cost of revenue and gross profit (loss); trends in operating expenses including research and development expense, sales and marketing expense and general and administrative expense and expectations regarding these expenses as a percentage of revenue; future deployment of our Bloom Energy Server systems, Bloom Electrolyzers, legislative actions and regulatory and environmental compliance; general business and other solutions; macroeconomic conditions in our ability to expand markets including inflationary pressure; our business, supply chain (including our ability to secure large data center customers; our ability to increase efficiency of our productsany direct or indirect effects from the Russia-Ukraine war, armed conflicts in the Middle East, or geopolitical developments in China); our ability to market the impact of tariffs on our products successfully in connection with supply chain and fuel cell product; the global energy transition and shifting attitudes around climate change; our business strategyimpact of changes in government incentives, including the impact of the IRA and plans and the OBBBA; industry trends; our objectives for future operationsexposure to foreign exchange, interest and credit risk; and the impact of recently adopted accounting pronouncements. All statements contained in this Quarterly Report on Form 10-Q other than statements of historical fact are forward-looking statements. Forward-looking statements may be identified by words such as “future,” “anticipates,” “believes,” “estimates,” “expects,” “intends,” “designs,” “plans,” “predicts,” “targets,” “forecasts,” “will,” “would,” “could,” “can,” “may,” “aim,” “potential,” “mission,” “commit” and similar terms. These statements are based on the beliefs and assumptions of our management based on information currently available to management at the time they are made. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results, events, circumstances, outcomes and the timing of certain events to differ materially from future results or outcomes expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those factors discussed in the section titled “Risk Factors” included in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, and in our other filings with the SEC. You should review these risk factors for a more complete understanding of the risks associated with an investment in our securities. Such forward-looking statements speak only as of the date of this report. We disclaim any obligation to update any forward-looking statements made in this Quarterly Report on Form 10-Q to reflect events or circumstances after the date of this report or to reflect new information or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. The following discussion and analysis should be read in conjunction with our condensed consolidated financial statements and notes thereto included elsewhere in this Quarterly Report on Form 10-Q.