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Bloom Energy BE Installation — Fair value adjustment of warrants

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Other financials

Income statement

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Revenue$1.1B+166%
Gross profit$355.6M+232%
Operating income$182.2M+5,302%
Net income$198.9M+571%
EPS (diluted)$0.62+444%

Balance sheet

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Cash & equivalents$2.7B+344%
Total debt$2.6B+105%
Total equity$1.6B+171%
Total assets$5.6B+122%

Cash flow

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Operating cash flow$226.4M+206%
CapEx$51.6M+613%
Free cash flow$174.8M+179%

Valuation

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Market cap$69.02B+659%
Enterprise value$68.94B+606%
P/E276.5×
P/S22.2×+16.6×

Profitability

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Gross margin31.2%+0.9pp
Operating margin11.2%+6.8pp
Net margin8%
FCF margin20.1%+17.4pp

Returns & leverage

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Return on equity22.6%
Debt / equity1.6×-0.5×
Current ratio4.1×-0.9×

Where this comes from

Reported directly by Bloom Energy in its filing.

Tagged under the XBRL concept us-gaap:FairValueAdjustmentOfWarrants.

The source filing: Bloom Energy’s 10-K, filed February 9, 2026.

Filed
Feb 9, 2026, 5:16 PM EST
Fiscal year
FY2025
Accession
0001628280-26-006516

As of December 31, 2025, the estimated total fair value of the Warrant was $55.9 million. Based on the proportion of product and installation obligations fulfilled under executed statements of work with the key hyperscaler as of December 31, 2025, we recognized $15.9 million of the Warrant’s fair value as an increase to Additional paid‑in capital, with a corresponding reduction to revenue, comprising $15.8 million within product revenue and $0.1 million within installation revenue. The remaining fair value will be recognized as a reduction of revenue as the related goods are transferred and installation obligations fulfilled under executed statements of work. We will update our estimate of the award’s fair value at each reporting date until a grant date is established, with any changes recorded as cumulative adjustments to revenue and Additional paid‑in capital.

ITEM 8—FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is Bloom Energy's installation — fair value adjustment of warrants?
Bloom Energy (BE) reported installation — fair value adjustment of warrants of $25K in Q4 2025.
What does installation — fair value adjustment of warrants mean?
This metric represents the non-cash periodic adjustment to the carrying value of warrant liabilities associated with specific installation or service contracts. It reflects changes in the estimated fair value of these financial instruments based on market conditions, stock price volatility, and the remaining term of the warrants. This adjustment is recognized in the income statement to align the liability with current market valuations.

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