Bloom Energy Corp
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
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Consolidated Balance Sheets
(in thousands, except share data)
| December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents1 | $802,851 | $664,593 |
| Restricted cash1 | 110,622 | 46,821 |
| Accounts receivable, less allowance for credit losses of $119 as of December 31, 2024, and 20231, 2 | 335,841 | 340,740 |
| Contract assets3 | 145,162 | 41,366 |
| Inventories1 | 544,656 | 502,515 |
| Deferred cost of revenue4 | 58,792 | 45,984 |
| Prepaid expenses and other current assets1, 5 | 46,203 | 51,148 |
| Total current assets | 2,044,127 | 1,693,167 |
| Property, plant and equipment, net1 | 403,475 | 493,352 |
| Operating lease right-of-use assets1, 6 | 122,489 | 139,732 |
| Restricted cash1 | 37,498 | 33,764 |
| Deferred cost of revenue | 3,629 | 3,454 |
| Other long-term assets1, 7 | 46,136 | 50,208 |
| Total assets | $2,657,354 | $2,413,677 |
| Liabilities and stockholders’ equity | ||
| Current liabilities: | ||
| Accounts payable1, 8 | $92,704 | $132,078 |
| Accrued warranty9 | 16,559 | 19,326 |
| Accrued expenses and other current liabilities1, 10 | 138,450 | 130,879 |
| Deferred revenue and customer deposits1, 11 | 243,314 | 128,922 |
| Operating lease liabilities1, 12 | 19,642 | 20,245 |
| Financing obligations | 11,704 | 38,972 |
| Recourse debt | 114,385 | — |
| Total current liabilities | 636,758 | 470,422 |
| Deferred revenue and customer deposits1, 13 | 43,105 | 19,140 |
| Operating lease liabilities1, 14 | 124,523 | 141,939 |
| Financing obligations | 244,132 | 405,824 |
| Recourse debt | 1,010,350 | 842,006 |
| Non-recourse debt1, 15 | 4,057 | 4,627 |
| Other long-term liabilities | 9,213 | 9,049 |
| Total liabilities | $2,072,138 | $1,893,007 |
| Commitments and contingencies (Note 13) | ||
| Stockholders’ equity: | ||
| Common stock: 0.0001 par value; Class A shares — 600,000,000 shares and 600,000,000 shares authorized, and 229,142,474 shares and 224,717,533 shares issued and outstanding, and Class B shares — 470,092,742 shares and 600,000,000 shares authorized, and no shares issued and outstanding at December 31, 2024, and 2023, respectively. | 23 | 21 |
| Additional paid-in capital | 4,462,659 | 4,370,343 |
| Accumulated other comprehensive loss | (2,593) | (1,687) |
| Accumulated deficit | (3,897,618) | (3,866,599) |
| Total stockholders’ equity attributable to common stockholders | 562,471 | 502,078 |
| Noncontrolling interest | 22,745 | 18,592 |
| Total stockholders’ equity | $585,216 | $520,670 |
| Total liabilities and stockholders’ equity | $2,657,354 | $2,413,677 |
1 We have variable interest entity related to a joint venture in the Republic of Korea (see Note 17 —SK ecoplant Strategic Investment), which represents a portion of the consolidated balances recorded within these financial statement line items.
2 Including amounts from related parties of $93.5 million and $262.0 million as of December 31, 2024, and 2023, respectively.
3 Including amounts from related parties of $0.8 million and $6.9 million as of December 31, 2024, and 2023, respectively.
4 Including amounts from related parties of $0.9 million as of December 31, 2023. There wereno related party balances as of December 31, 2024.
5 Including amounts from related parties of $1.2 million and $2.3 million as of December 31, 2024, and 2023, respectively.
6 Including amounts from related parties of $1.4 million and $2.0 million as of December 31, 2024, and 2023, respectively.
7 Including amounts from related parties of $8.8 million and $9.1 million as of December 31, 2024, and 2023, respectively.
8 Including amounts from related parties of $0.1 million as of December 31, 2023. There wereno related party balances as of December 31, 2024.
9 Including amounts from related parties of $1.2 million and $1.3 million as of December 31, 2024, and 2023, respectively.
10 Including amounts from related parties of $4.0 million and $3.4 million as of December 31, 2024, and 2023, respectively.
11 Including amounts from related parties of $8.9 million and $1.7 million as of December 31, 2024, and 2023, respectively.
12 Including amounts from related parties of $0.4 million and $0.4 million as of December 31, 2024, and 2023, respectively.
13 Including amounts from related parties of $3.3 million and $6.7 million as of December 31, 2024, and 2023, respectively.
14 Including amounts from related parties of $1.0 million and $1.6 million as of December 31, 2024, and 2023, respectively.
15 Including amounts from related parties of $4.1 million and $4.6 million as of December 31, 2024, and 2023, respectively.
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