Bloom Energy Corporation (BE) experienced an increase of 5.81% in the aftermarket because the company announced the fourth quarter and full-year 2021 results. However, the last trading session closed at $15.49 with a decrease of 3.37%.
Fourth Quarter Results by BE – What’s up?
BE announced fourth-quarter results on 10th February 2022. The company announced revenue of $342.5 million in the fourth quarter with an incline of 37.3%. Moreover, BE reported that in the fourth quarter of 2021, 735 systems were accepted, more than 63.3% from the same quarter in 2020. Furthermore, operating cash flows came out to be $47.2 million with an ending cash balance of $615.1 million.
Full Year Results – How was BE’s entire year?
BE reported full-year 2021 results on 10th February 2022. According to the report, the backlog reached a new high of 6,549 systems, more than 1,994 in the previous quarter. Moreover, revenue came out to be $972.2 million, more than $794.2 million in 2020. Lastly, the GAAP gross margin will be 20.3%, down from 20.9 percent in 2020.
Bloom Energy had an exceptional quarter and year. BE has now reached a tipping point with approximately $1 billion in revenue. Moreover, the company is in a classification of its own as the energy business transitions, with expected increases, margin expansion, robust backlog, and the finest, most creative technologies for clients who want low-carbon and resilient power today and zero-emissions energy.
Furthermore, the company will profit from the growing demand for clean energy, decarbonization, and the hydrogen and renewable fuels industries. This year was mostly about execution, both financially and legally. The company is in great shape. Last but not the least, the company has the products, the staff, the approach, and the proven record to carry out the expansion objectives.
Bloom Energy enables businesses and communities to take control of their energy in a responsible manner. Moreover, the company’s leading solid oxide platform for distributed power and hydrogen generation is reshaping the energy landscape. Bloom Energy is a committed partner for Fortune 100 corporations throughout the world, delivering lower carbon energy now and a net-zero future.