Bloom Energy (BE) Company Report

Bloom Energy Corporation priced an upsized offering of $2.2 billion aggregate principal amount of 0% convertible senior notes due 2030 on October 30, 2025, which was increased from the previously announced $1.75 billion. The offering settled on November 4, 2025, with a total of $2.5 billion principal amount of notes issued, including the full exercise of an option for additional notes.
The notes have an initial conversion rate of 5.1290 shares of Class A common stock per $1,000 principal amount, equating to an initial conversion price of approximately $194.97 per share. This represents a premium of approximately 52.50% over the last reported sale price of $127.85 per share on October 30, 2025.
Bloom Energy estimates net proceeds of approximately $2.16 billion (or approximately $2.45 billion if the initial purchasers' option is fully exercised).
Approximately $988.4 million of the net proceeds will be used to fund the cash portion of concurrent exchange transactions for existing convertible notes. These transactions involve exchanging $532.8 million principal amount of 2028 Notes and $443.1 million principal amount of 2029 Notes for cash and Class A common stock. The remaining net proceeds are intended for general corporate purposes.

Nov 4, 2025, 10:20 PM

8-K

GTT Reports Strong 9M 2025 Revenue and Raises Full-Year Guidance

Earnings

Guidance Update

M&A

GTT reported revenue of 599.6 million euros for the first nine months of 2025, representing a 29.0% increase compared to the same period in 2024.
The company revised its 2025 objectives upwards, now expecting revenue in the range of 790–820 million euros and EBITDA between 530–550 million euros.
The acquisition of Danelec was completed on July 31, 2025, contributing to an 83.4% growth in the digital business revenue, which reached 19.9 million euros for the first nine months of 2025.
GTT secured significant new orders during the first nine months of 2025, including 19 LNG carriers, 7 ethane carriers, 1 FLNG, and 18 LNG-powered container ships.

Oct 31, 2025, 4:45 PM

Press Release

Bloom Energy Announces Proposed Convertible Senior Notes Offering

Debt Issuance

Convertible Preferred Issuance

New Projects/Investments

Bloom Energy Corporation announced a proposed private offering of $1.75 billion aggregate principal amount of 0% convertible senior notes due 2030.
The notes will mature on November 15, 2030, and are redeemable by Bloom Energy on or after November 20, 2028, if its Class A common stock exceeds 130% of the conversion price.
A portion of the net proceeds will be used for concurrent exchange transactions of existing convertible notes, with the remainder allocated to general corporate purposes, including research and development, sales and marketing, manufacturing expansion, and capital expenditures.
Concurrently, Bloom Energy plans to exchange a portion of its 3.00% Green Convertible Senior Notes due 2028 and 2029 for a combination of cash and Class A common stock.

Oct 30, 2025, 10:30 AM

Press Release

Bloom Energy to Issue Warrant to Oracle for AI Data Center Partnership

New Projects/Investments

On October 28, 2025, Bloom Energy Corporation (BE) agreed to issue a Warrant to Oracle Corporation.
This agreement is in connection with a partnership between the two companies to provide on-site solid state power for AI data centers.
The Warrant grants Oracle the right to purchase up to 3,531,073 shares of Class A Common Stock at an exercise price of $113.28 per share, which was the closing market price on October 28, 2025.
The Warrant will have an expiration date of six months from its issuance and is intended to strengthen the partnership and accelerate the adoption of Bloom fuel cell technology.

Oct 29, 2025, 10:04 PM

8-K

Bloom Energy Reports Strong Q3 Earnings and Strategic Partnership, Shares Surge

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Bloom Energy's stock has surged nearly 400% year-to-date, driven by a $5 billion strategic partnership with Brookfield Asset Management to power AI data centers and strong third-quarter earnings.
The company reported Q3 2025 revenue of $519 million, a 57.1% increase, and an adjusted EPS of $0.15, though it posted a net loss of $23.1 million.
While exhibiting strong liquidity with a current ratio of 4.99, Bloom Energy carries a relatively high debt-to-equity ratio of 2.56.
Shares are trading at over 130 times forward earnings, indicating a high valuation despite analyst price targets in the $105–$123+ range.

Oct 28, 2025, 11:16 PM

Barron's

Bloom Energy Reports Record Q3 2025 Revenue and Accelerating AI Momentum

Earnings

Guidance Update

New Projects/Investments

Bloom Energy reported record Q3 2025 revenue of $519 million, representing a 57% year-over-year increase, with a gross margin of 30.4% and positive EPS of $0.15. This marks the company's fourth consecutive quarter of record revenue and seventh consecutive quarter of profitability in its service business.
The company is experiencing accelerating commercial momentum across all segments, particularly within the AI ecosystem, securing lighthouse customers and partnerships with major entities such as Oracle, American Electric Power, Equinix, and CoreWeave.
A significant development is the $5 billion initial investment from Brookfield, making Bloom Energy the preferred onsite power provider for Brookfield's trillion-dollar infrastructure portfolio, with plans for a European AI inference data center announcement by year-end.
Bloom Energy is doubling its capacity to 2 gigawatts by December 2026 to support future growth, which is projected to be approximately four times its 2025 revenue. The company expects fiscal 2025 financial metrics to exceed previous guidance and anticipates continued double-digit product cost reductions.

Oct 28, 2025, 9:00 PM

Transcript

Bloom Energy Reports Record Q3 2025 Revenue and Strong AI Ecosystem Traction

Earnings

Guidance Update

New Projects/Investments

Bloom Energy achieved record Q3 2025 revenue of $519 million, marking a 57% year-over-year increase, with operating income of $46.2 million and adjusted EBITDA of $59 million, and positive EPS of $0.15.
The company anticipates fiscal 2025 financial metrics will exceed previous annual guidance and expects continued double-digit product cost reductions.
Bloom Energy is experiencing accelerating commercial momentum in the AI ecosystem, highlighted by a $5 billion investment from Brookfield to become its preferred onsite power provider and the ahead-of-schedule delivery of an AI factory power solution for Oracle.
To support future growth, Bloom Energy is doubling its manufacturing capacity to 2 GW by December 2026, which is expected to support approximately 4x its 2025 revenue.

Oct 28, 2025, 9:00 PM

Transcript

Bloomenergy Reports Strong Q3 2025 Financial Results

Earnings

Revenue Acceleration/Inflection

Bloomenergy reported revenue of $519.0 million for Q3 2025, marking a 57.1% year-over-year increase compared to $330.4 million in Q3 2024.
The company's Non-GAAP Gross Margin expanded to 30.4% in Q3 2025, an increase of 5.1 percentage points from 25.2% in Q3 2024.
Non-GAAP Operating Income for Q3 2025 was $46.2 million, a significant increase from $8.1 million in Q3 2024, while Adjusted EBITDA grew to $59.0 million from $21.3 million in the prior year period. Non-GAAP EPS improved to $0.15 in Q3 2025 from ($0.01) in Q3 2024.

Oct 28, 2025, 9:00 PM

Presentation

Bloom Energy Reports Record Q3 2025 Revenue and Expands Capacity for AI Market

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Bloom Energy reported a record Q3 2025 revenue of $519 million, marking a 57% year-over-year increase, with a 30.4% gross margin, $46.2 million operating income, $59 million Adjusted EBITDA, and positive EPS of $0.15.
The company secured a significant partnership with Brookfield, which made an initial $5 billion investment and designated Bloom as the preferred onsite power provider for its trillion-dollar infrastructure portfolio of AI factories and data centers.
Bloom is doubling its manufacturing capacity to 2 gigawatts by December 2026, projected to support four times its 2025 revenue, and expects fiscal 2025 financial metrics to surpass previous annual guidance.
Bloom's fuel cell technology is positioned as a standard for onsite power, particularly for AI buildouts, offering clean, reliable, and efficient power, and its architecture is well-suited for the emerging 800-volt DC power requirements of next-generation AI chips.

Oct 28, 2025, 9:00 PM

Transcript

Bloom Energy Reports Record Q3 2025 Financial Results and Strategic AI Partnership

Earnings

Revenue Acceleration/Inflection

New Projects/Investments

Bloom Energy reported record revenue of $519.0 million in the third quarter of 2025, representing a 57.1% increase compared to the third quarter of 2024, marking its fourth consecutive quarter of record revenue.
The company achieved a non-GAAP gross margin of 30.4% and non-GAAP operating income of $46.2 million in Q3 2025, leading to non-GAAP basic EPS of $0.15.
Bloom Energy announced a $5 billion strategic AI infrastructure partnership with Brookfield Asset Management.
The company generated positive cash flow from operating activities in Q3 2025.

Oct 28, 2025, 8:06 PM

8-K

Earnings Transcripts

Quarterly earnings call transcripts for Bloom Energy.

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