For the year ending 2025-12-31, BE had $1,530,609K increase in cash & cash equivalents over the period. $57,190K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net loss | -87,140 | -27,203 | -307,937 | -315,086 |
| Depreciation and amortization | 50,566 | 53,048 | 62,609 | 61,608 |
| Non-cash lease expense | 32,520 | 35,898 | 33,619 | 20,155 |
| Equity in loss of unconsolidated affiliates, net of distributions | -40,421 | - | - | - |
| Loss on disposal of property, plant and equipment | -436 | -161 | -411 | - |
| Revaluation of derivative contracts | -537 | -694 | -1,641 | 9,583 |
| Impairment of assets | 12,669 | 0 | 130,088 | 113,514 |
| Derecognition of loan commitment asset related to sk ecoplant second tranche closing (note 17) | 0 | 0 | 52,792 | - |
| Stock-based compensation expense | 139,406 | 82,424 | 84,480 | 112,259 |
| Gain on remeasurement of investment | - | - | 0 | 0 |
| Contingent consideration remeasurement | - | - | 0 | 0 |
| Interest expense on interest rate swap settlement | - | - | 0 | 0 |
| Amortization of debt issuance costs | 8,248 | 6,797 | 4,772 | 3,032 |
| Loss on extinguishment of debt | -32,340 | -27,182 | -4,288 | -8,955 |
| Induced conversion of 3.0 green notes due june 2029 and 3.0 green notes due june 2028 (note 8) | 66,241 | - | - | - |
| Net (gain) loss on failed sale-and-leaseback transactions | 827 | 17,390 | - | - |
| Share-based consideration payable to customers customer (note 3) | 15,947 | - | - | - |
| Allowance for credit losses | 340 | - | - | - |
| Inventory reserve and other assets impairment | 21,877 | - | - | - |
| Unrealized foreign currency exchange (gain) loss | 2,290 | -3,756 | -618 | 3,267 |
| Other | 57 | -69 | -450 | -3,532 |
| Accounts receivable | 35,525 | -7,133 | 89,888 | 162,864 |
| Contract assets | 96,024 | 103,796 | -5,361 | 21,525 |
| Inventories | 119,212 | 44,527 | 231,689 | 124,878 |
| Deferred cost of revenue | -27,172 | 13,070 | -1,655 | 24,282 |
| Customer financing receivable | - | 0 | 0 | -2,510 |
| Prepaid expenses and other assets | 3,601 | -3,790 | 5,754 | 17,590 |
| Other long-term assets | 11,092 | -4,072 | 3,366 | 2,617 |
| Operating lease right-of-use assets and operating lease liabilities | -33,447 | -36,675 | -32,801 | 3,016 |
| Financing lease liabilities | 2,598 | 1,644 | 1,011 | 896 |
| Accounts payable | 110,911 | -36,629 | -29,080 | 86,498 |
| Accrued warranty | 3,454 | -2,767 | 1,994 | 5,586 |
| Accrued expenses and other current liabilities | 80,337 | 8,662 | -13,785 | 43,243 |
| Deferred revenue and customer deposits | -142,605 | 139,868 | -42,635 | 35,156 |
| Deferred profit with equity method investees and other long-term liabilities | -251 | -1,143 | -1,385 | -9,991 |
| Net cash provided by (used in) operating activities | 113,949 | 91,998 | -372,531 | -191,723 |
| Purchase of property, plant and equipment | 56,759 | 58,852 | 83,739 | 116,823 |
| Proceeds from sale of property, plant and equipment | 131 | 70 | 14 | - |
| Net cash acquired from step acquisition | - | - | 0 | 0 |
| Investments in unconsolidated affiliates | 36,491 | - | - | - |
| Net cash used in investing activities | -93,119 | -58,782 | -83,725 | -116,823 |
| Proceeds from issuance of debt | - | - | - | 0 |
| Payment of issuance costs related to redeemable convertible preferred stock | - | - | 395 | 0 |
| Proceeds from issuance of debt to related parties | - | - | - | 0 |
| Make-whole payment related to ppa iiia and ppa iv debt | - | - | - | 6,553 |
| Proceeds from issuance of debt | 2,500,000 | 402,500 | 637,127 | - |
| Make-whole payment related to ppas debt | - | 0 | 0 | 100,705 |
| Payment of debt issuance costs | 62,712 | 12,761 | 19,736 | 0 |
| Repayment of debt | 975,945 | 140,990 | 191,390 | 19,881 |
| Purchase of capped call options related to convertible notes | 0 | 0 | 54,522 | - |
| Proceeds from financing obligations | 0 | 1,798 | 4,993 | 3,261 |
| Distributions to redeemable noncontrolling interest | - | - | 0 | 0 |
| Repayment of financing obligations | 11,267 | 90,197 | 18,445 | 35,543 |
| Distributions and payments to noncontrolling interest | 0 | 0 | 2,265 | 6,854 |
| Proceeds from issuance of common stock | 59,123 | 12,367 | 16,945 | 15,279 |
| Proceeds from public share offering | - | 0 | 0 | 385,396 |
| Payment of public share offering costs | - | - | 35 | 13,775 |
| Payment of public share offering costs and issuance costs related to redeemable convertible preferred stock-Common Stock | - | 0 | - | - |
| Buyout of noncontrolling interest | 0 | 0 | 6,864 | 12,000 |
| Proceeds from issuance of redeemable convertible preferred stock | 0 | 0 | 310,957 | 0 |
| Payment of issuance costs related to redeemable convertible preferred stock-Redeemable Convertible Preferred Stock | 0 | 0 | - | - |
| Dividend paid | 947 | 1,468 | - | - |
| Contributions from noncontrolling interest | 0 | 3,958 | 6,979 | 2,815 |
| Other | 150 | 0 | 0 | -76 |
| Net cash provided by financing activities | 1,508,402 | 175,207 | 683,349 | 211,364 |
| Effect of exchange rate changes on cash, cash equivalent, and restricted cash | 1,377 | -2,630 | -281 | 434 |
| Net increase in cash, cash equivalents, and restricted cash | 1,530,609 | 205,793 | 226,812 | -96,748 |
| Cash and cash equivalents at beginning of period | 950,971 | 745,178 | 518,366 | 615,114 |
| Cash and cash equivalents at end of period | 2,481,580 | 950,971 | 745,178 | 518,366 |
Bloom Energy Corp (BE)
Bloom Energy Corp (BE)