UNITED STATESSECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________________________________

FORM 8-K___________________________________________

CURRENT REPORTPURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of report: August 12, 2019(Dateofearliesteventreported)

___________________________________________

BLOOM ENERGY CORPORATION(ExactnameofRegistrantasspecifiedinitscharter)

001-38598Commission File Number

___________________________________________

Delaware 77-0565408(Sateorotherjurisdictionofincorporationororganization) (I.R.S.EmployerIdentificationNumber)

4353 North First Street, San Jose, California 95134

(Addressofprincipalexecutiveoffices) (ZipCode)

(Registrant’stelephonenumber,includingareacode)

Not Applicable

(Formernameorformeraddress,ifchangedsincelastreport)

___________________________________________

ChecktheappropriateboxbelowiftheForm8-Kfilingisintendedtosimultaneouslysatisfythefilingobligationoftheregistrantunderanyofthefollowingprovisions:¨WrittencommunicationspursuanttoRule425undertheSecuritiesAct(17CFR230.425)¨SolicitingmaterialpursuanttoRule14a-12undertheExchangeAct(17CFR240.14a-12)¨Pre-commencementcommunicationspursuanttoRule14d-2(b)undertheExchangeAct(17CFR240.14d-2(b))¨Pre-commencementcommunicationspursuanttoRule13e-4(c)undertheExchangeAct(17CFR240.13e-4(c))

SecuritiesregisteredpursuanttoSection12(b)oftheAct:

Titleofeachclass(1) TradingSymbol(s)

Nameofeachexchangeonwhichregistered

ClassACommonStock$0.0001parvalue “BE” NewYorkStockExchange

(1) OurClassBCommonStockisnotregisteredbutisconvertibleintosharesofClassACommonStockattheelectionoftheholder.

IndicatebycheckmarkwhethertheregistrantisanemerginggrowthcompanyasdefinedinRule405oftheSecuritiesActof1933(§230.405ofthischapter)orRule12b-2oftheSecuritiesExchangeActof1934(§240.12b-2ofthischapter).

Emerginggrowthcompanyþ

Ifanemerginggrowthcompany,indicatebycheckmarkiftheregistranthaselectednottousetheextendedtransitionperiodforcomplyingwithanyneworrevisedfinancialaccountingstandardsprovidedpursuanttoSection13(a)oftheExchangeAct.¨

Item 2.02 Results of Operations and Financial Condition

OnAugust12,2019,BloomEnergyCorporationannounceditsfinancialresultsforthesecondquarterendedJune30,2019andissuedaLettertoShareholdersandpressrelease,copiesofwhichareattachedheretoasExhibits99.1and99.2,respectively.TheLettertoShareholdersdisclosescertainnon-GAAPfinancialmeasures.AreconciliationtothenearestcomparableGAAPequivalentofthesenon-GAAPmeasuresiscontainedintabularforminExhibit99.1.

The information contained in this Item 2.02 and in the accompanying Exhibit 99.1 and Exhibit 99.2 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934,as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, orthe Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No. Description

99.1 LettertoShareholdersdatedAugust12,2019

99.2 PressReleasedatedAugust12,2019

Signature

PursuanttotherequirementsoftheSecuritiesExchangeActof1934,theregistranthasdulycausedthisreporttobesignedonitsbehalfbytheundersignedthereuntodulyauthorized.

BLOOM ENERGY CORPORATION

Date: August12,2019 By: /s/RandyFurr

RandyFurr

ChiefFinancialOfficer

Q2FISCAL2019LettertoShareholdersAugust12,20191

Q2Fiscal2019Highlights.Achieved271acceptances,a49.7%year-over-yearincrease.Q2Fiscal2019KeyResults.Posted$233.8millionofrevenue,agrossmarginof17.8%andaTotalAcceptances(100kWunits)netlossof$62.2million.Excludingstock-basedcompensation,we271systemsachieved22.3%grossmarginand$21.9millionofadjusted809EBITDA.622235271.WeaugmentedourleadershipteambyappointingformerSignify181(previouslyPhillipsLighting)andCiscoexecutive,ChrisWhiteasFY'17FY'18Q2'18Q1'19Q2'19ExecutiveVicePresidentandChiefSalesOfficer..WeannouncedaninvestmentbyDukeEnergyOne,asubsidiaryofRevenue($M)DukeEnergy,for37megawattsofUSCommercialandIndustrial$233.8M$742.0BloomEnergyServerprojectsvaluedatapproximately$250million.$376.0$168.9$200.7$233.8.WeannouncedanewtechnicalcapabilityforourEnergyServerstooperateusinghydrogenasafuelsource.ThenewsfurtherFY'17FY'18Q2'18Q1'19Q2'19extendsthefuelflexibilityweofferourcustomers,andtherebyGAAPGrossMarginaddsadditionalpathsforgeneratingon-site,always-onelectric17.8%powerwithlowornoemissions.19.4%15.8%17.8%7.8%-4.8%FY'17FY'18Q2'18Q1'19Q2'19NonGAAPGrossMargin(excludingSBC)22.3%21.4%20.6%22.3%“WearepleasedtohavedeliveredarecordQ2foracceptances,15.0%whichexceededanalystexpectations.Ourpositivemomentumwasenabledbythecontinuedsuccessofourdiversificationstrategy,andbygreaterpredictabilityinourinstalls.Wealsomade-2.7%FY'17FY'18Q2'18Q1'19Q2'19substantialprogressagainstourcostreductiongoals,deliveringbothsequentialandyear-over-yearreductionsinourcostofproductaccepted.“KRSridhar,Founder,ChairmanandCEO,BloomEnergy2

DearShareholder,Duringoursecondfiscalquarter,whichendedJune30,2019,BloomEnergycontinuedtodeliverstrongsamequarteryear-over-yearacceptanceandrevenuegrowth,characterizedbyadiversityofcustomers,industriesandinternationalbusiness.Wealsocontinuedtoproliferateourrelationshipswithcustomerfinancingpartners,expandedourabilitytoprovidezerocarbonbaseloadpowergenerationsolutions,aswellasaddedaseasonedsalesexecutivetoleadouroutboundsalesefforts.Thisquarter,weachieved271acceptances,a49.7%year-over-yearincreaseandarecordQ2forthecompany,andslightlyabovethemidpointofourestimates.Revenueforthequarterwas$233.8million,up38.4%year-over-year,yieldinganetlossof$62.2million(including$51.2millionofstock-basedcompensation)andadjustedEBITDAof$21.9million.Q2Fiscal2019BusinessHighlightsDataCenterandHealthCareLeadSectorswithStrongestAcceptanceMomentumWedeliveredanotherstrongquarterwithadiversityofacceptancesacrossindustrysectorsandinternationalmarkets.Ourmomentumincorehealthcare,retailanddatacentersectorscontinued,andwesawnewacceptancesinthetech,telecommunications,utility,foodandbeverage,media,hospitalityandeducationsectors.NotablenewcustomersofBloomEnergyServersthisquarterincludeBloomEnergyServersweredeployedatTheAgilentTechnologies,thegloballeaderinlifesciences,diagnostics,andappliedchemicalmarkets,andAlticeUSA,oneofthelargestAlhambra,amixed-usehealth-and-wellnessbroadbandcommunicationsandvideoservicesoperatorsintheU.S.communityinLosAngelesduringQ2WealsodeployedthelatestgenerationofourEnergyServersatTheAlhambra,aLEEDGoldcertified,mixed-usehealth-and-wellness-focusedcommunitythatishometotheCountyofLosAngeles.NewStrategicAlliancewithDukeEnergyUnderscoresConfidenceinBloomEnergyServersThisquarter,wewerepleasedtoannounceasubsidiaryofDukeEnergy,oneofthelargestelectricpowerholdingcompaniesintheU.S.,madea$250millioninvestmentinourtechnology.DukeEnergyOnewillacquireapproximately37megawattsofBloomEnergyServerprojectsthroughapowerpurchaseagreement3

mechanismasitseekstoservecommercialandindustrialcustomers’evolvingenergyneedsbehindthemeter.Dukerecognizesthatcommercialandindustrialcustomersincreasinglyneedpowerthatisreliable,resilientandaffordable,anditsinvestmentisasignificantvalidationoftheBloomEnergyServervalueproposition.DukeEnergyOnehasalreadysecuredlong-termpowerpurchaseagreementswithcreditworthycustomersprimarilylocatedinCalifornia,Connecticut,MarylandandNewYork.DukeandBloomEnergywilldeploytheserversatmorethan30sitesacrossaportfolioofcustomersduringthenext18months,includinghospitals,technologycompanies,datacentersanduniversities.BloomEnergyContinuesonPathtoZeroEmissionswithNewCapabilitytoRunonHydrogenDuringthequarter,weannouncedanewcapabilityforBloomEnergyServerstooperateusingpurehydrogen,orablendofhydrogenandnaturalgas,asfuel.Theannouncementsetsupasymbioticrelationshipbetweenwindandsolarpower,andfuelcellspoweredbyhydrogenproducedwithexcessrenewables.Today,excessrenewablepoweristypicallycurtailed.Thisimpactsprojecteconomics,andmakesnewwindandsolardeploymentslessattractivetoinvestors.Insteadofcurtailingwindandsolarpower,excessrenewablescanbeusedtoproducehydrogenfromwaterviaelectrolysis.RenewableBloomEnergyannouncedthecapabilitytohydrogencanbestoredindefinitelywhereitisproduced,orinlargeusehydrogenasfuelinQ2,asolutionthatstorageandpipelinenetworkslikethenaturalgassystem.BloomEnergyServerscanusethehydrogentodeliverbaseloadelectriccouldcomplementwindandsolarpowerpower24hoursperday,365daysperyear,providingtheperfectdeployments.always-oncompaniontointermittentwindandsolarpower.Morethan200waterelectrolysisprojectshavecomeonlinesince2000withmanymorelargerelectrolysisprojectsannouncedintheUSandEurope.BloomEnergyanticipatesearlydemandforhydrogen-poweredfuelcellsinAsia,wherehydrogenproductionandutilizationarebeingmostactivelydeveloped.GlobalEnergyLeadersConveneat5thAnnualASPIREForumHostedbyBloomEnergyInMay,morethan300executive,political,industryandregulatoryleadersgatheredinCaliforniafortheASPIREForum,anenergyandsustainabilitythoughtleadershipeventconvenedbyBloomEnergyandMorganStanley.WecreatedtheASPIREForumtofacilitateintelligentdialoguesaboutthesolutions,practicesandpolicies4

requiredtocomprehensivelyaddressthecausesandconsequencesofclimatechange.Thisyear’sevent,ourfifth,featuredkeynotespeakersincludingLaszloVarro,ChiefEconomistoftheInternationalEnergyAgency,NeilChatterjee,ChairmanoftheFederalEnergyRegulatoryCommission,CharlieBaker,GovernorofMassachusetts,StaceyCunningham,PresidentoftheNewYorkStockExchangeandCaliforniaLieutenantGovernorEleniKounalakis.FERCChairmanNeilChatterjeeandASPIREForumisakeymomentinourmarketingcalendarandweweredelightedtowelcomemanycustomersandmanypotentialIEAChiefEconomistLaszloVarroatASPIREfuturecustomerstotheevent.Forum2019withFareedZakariaofCNN.NewGlobalSalesLeaderAppointmentFurtherStrengthensLeadershipTeamFinally,wearepleasedtoreportanotherhighcaliberexecutiveappointment.ChrisWhitehasjoinedBloomEnergyasexecutivevicepresidentandchiefsalesofficer.Chrishasmorethan25yearsexperienceleadingindustryandmarkettransformations.HemostrecentlyservedasCEOoftheAmericasatSignify(formerlyPhilipsLighting).BeforejoiningSignify,Chrishadanimpressive20-yeartenureatCisco.HisaccomplishmentsattheITandcommunicationscompanyincludebuildinga$1billionInternetofThingsbusinessinthreeyears.HealsogrewCisco’ssportsandChrisWhitehasjoinedBloomEnergyasentertainmenttechnologybusinessfroma$20millionstart-uptoaEVPandChiefSalesOfficer$500millionbusinessinlessthanfiveyears.ChrissucceedsBillThayer,whohasbeenBloom’sU.S.salesleadersince2005.BillretiredfromhisroleduringQ2.Wearetremendouslygratefulforallthathecontributedtoourcompanyoverthepast14years!.5

Q2Fiscal2019FinancialHighlightsQ2’19Q1’19Q2’18Acceptances(100kW)271235181Revenue($M)$233.8$200.7$168.9GAAPGrossMargin(%)17.8%7.8%19.4%GrossMarginExcludingSBC(%)22.3%15.0%20.6%GAAPNetLoss($M)($62.2)($84.4)($45.7)AdjustedEBITDA($M)$21.9$2.1$12.5GAAPNetLossperShare($)($0.55)($0.76)($4.34)AdjustedNetLossperShare($)($0.13)($0.22)($0.27)TotalAcceptancesWeachieved271acceptancesinQ2ofFY19,or27.1megawatts,a49.7%increaseyear-over-year.Generally,anacceptanceoccurswhenthesystemisturnedonandproducingfullpower.Fororderswhereoneofourinternationalpartnersperformstheinstallation,ouracceptancecriteriaisdifferent.Thoseacceptancesaregenerallyachievedwhenthesystemsareshippedtoourpartner.Uponacceptance,thecustomerorderismovedfromproductbacklogandisrecognizedasrevenue.The271acceptancesrepresentedtendifferentendcustomers,acrosseightindustriesandtwocountries.RevenueWeachieved$233.8millionofrevenueinQ2ofFY19comparedto$168.9millioninQ2ofFY18,anincreaseof38.4%year-over-yearandup16.5%sequentiallyrelativetoQ1ofFY19.NotethatrelativetoourQ2ofFY19estimatesthatweprovidedlastquarter,therewasachangerelatedtothePPAIIupgradeprojectthatweannouncedduringthequarter.OurQ2ofFY19estimatesnettedcertainexpensesassociatedwiththeupgradeagainsttheproceedsreceived.TheQ2ofFY19actualresultsrecognizeincrementalrevenueandexpensesonourprofitandlossstatement.SothatyoucanunderstandtheimpactofthedifferencebetweenourBloomEnergyServersdeployedataQ2ofFY19stimatesandourQ2ofFY19actualresults,wehaveCaliforniamanufacturerprovidedatableinthe“SummaryNon-GAAPFinancialInformation”sectiononpage10ofthisletter.Thistablebridgesouractualresultstoanormalizedor“adjustedactuals”thatalignswiththemethodologyoftheestimatesthatweprovidedlastquarter.Onanadjustedactualsbasis,removingtheimpactofthe$40.6millionofrevenueassociatedwiththedifferenceasoutlinedonpage10,weachieved$193.2millionofrevenue,whichisanincreaseof6

14.4%year-over-year,butdown3.8%sequentiallyduetoamixoflowerASPsassociatedwithourinternationalacceptances,wherewedon’tachieveinstallationrevenueandfromthePPAIIupgrade,whereweachievedminimalinstallationrevenue.GrossProfitandGrossMarginGrossprofitwas$41.7millioninQ2ofFY19,yieldingagrossmarginof17.8%comparedto$32.8millioninQ2ofFY18,withagrossmarginof19.4%.Whileabsolutegrossprofitincreasedonhigheracceptancevolume,grossmargindeclinedprimarilydrivenbyanincreaseinstockbasedcompensationrelatedtosharesissuedinconjunctionwithourIPOinJulyofFY18.Excludingstock-basedcompensation,grossprofitforQ2ofFY19was$52.1million,whichrepresentedgrossmarginof22.3%.Grossmarginwasupsequentiallyby7.3percentagepointsrelativetoQ1ofFY19,generallydrivenbya15.3%increaseinvolume,aswellastypicalquarter-to-quartermixofprofitabilityinacceptances.ComparedtoQ2ofFY18andremovingstockbasedcompensation,grossprofitwasupby$17.3million,andgrossmarginwasupby1.7percentagepoints.BothmetricsweredrivenprimarilybylargeracceptancevolumesandchangesinmixofacceptancesinQ2ofFY19comparedBloomEnergyServersdeployedatutilityscaletoQ2ofFY18.Onanadjustedactualsbasisandnormalizedtohowweprovidedtheestimates,non-GAAPgrossprofitwas$45.1million,up$10.4million,andgrossmarginwas23.4%,upby2.8percentagepoints,againdrivenprimarilybylargeracceptancevolumesandchangesinmixofacceptancesinQ2ofFY19comparedtoQ2ofFY18.OperatingExpensesOperatingexpensesforQ2ofFY19were$91.8million,whichincludedanincreaseinyear-over-yearstock-basedcompensationrelatedtoourIPO,investmentsinpeopleandmaterialstosupportournextgenerationEnergyServerdevelopment,newproductapplicationdevelopment,investmentsinourdemandgenerationfunctionstosupportincreasedgrowthandinvestmentsinG&Atosupportpubliccompanyreadiness.Additionally,weincurredaone-timeexpenseassociatedwiththePPAIIupgrade.Excludingstock-basedcompensation,Q2ofFY19operatingexpenseswere$51.0million,whichwereup$12.1millionsequentiallyfromQ1ofFY19andincreased$18.8millionyear-over-year,or58.4%.Q2of7

FY19operatingexpensesincluded$5.9millionofonetimechargesassociatedwiththePPAIIupgrade.Onanadjustedbasis,removingtheimpactoftheseone-timecharges,operatingexpenseswereup$6.1millionsequentiallyfromQ1ofFY19andincreased$12.8millionyear-over-year.Asapercentoftotalrevenue,ouroperatingexpenses,againexcludingstock-basedcompensation,increased2.7percentagepointsfrom19.1%ofrevenueinQ2ofFY18to21.8%ofrevenueinQ2ofFY19.NetLossandAdjustedEBITDANetlossforQ2ofFY19was$62.2million.TheresultsforQ2ofFY19included$51.2millionofstock-basedcompensationexpensesrelatedtostockgrantsissuedatthetimeofourIPO.ThechangefromourQ2ofFY19estimatestotheQ2ofFY19actualsforthePPAIIupgradehadnoimpacttoournetlossorEPS.AdjustedEBITDAforQ2ofFY19was$21.9million.WhencomparedtoQ2ofFY18adjustedEBITDA,whichwas$12.5million,Q2ofFY19’sadjustedEBITDAincreased$9.4million.AdjustingforthechangefromourQ2ofFY19estimatesforthePPAIIupgrade,adjustedEBITDAwas$12.8million.FreeCashFlowOurcashposition,includingrestrictedcash,increasedsequentiallyby$1.2millioninQ2ofFY19.Wecalculatefreecashflowascashflowfromoperationslesscapitalexpenditures.ForQ2ofFY19,weachievedfreecashflowof$108.9million.IncludedinthisamountareproceedsthatwereusedtopaydowndebtandequitywithourPPAIIupgradeproject.8

EstimatesOuroutlookforkeymetricsforQ3ofFY19:Q3FY19Acceptances(100kWunits)280to310AverageSalesPrice(dollars-per-kilowatt)$6,300to$6,600TotalInstalledSystemCost(dollars-per-kilowatt)$4,125to$4,425Thisoutlookissubjecttoanumberofrisksanduncertaintiesandactualresultsmaydiffermateriallyduetoavarietyoffactors,asmoreclearlyoutlinedinthe“Forward-LookingStatements”sectionofthisletter.SummaryQ2wascharacterizedbycontinuedexecutionofourcurrentbusinessplanofgrowthandcostreduction,butwithaneyetowardthefuture.Weannouncedanotherworld-classstrategicfinancingpartnerwithDukeEnergyOne.Additionally,weintroducedourhydrogenpoweredfuelcellsolutionthatcanbecomeakeypartofazerocarbon-baseddistributedenergysolution.Finally,wealsodeliveredfinancialresultsinlinewithexpectations.Withthetailwindsthatweseeinthecurrentmarketplaceandtheever-growingneedforreliable,always-onpower,weareexcitedfortherestofFY19,aswecontinueonourmissiontodeliverclean,reliableandaffordableenergytoeveryoneintheworld.Sincerely,KRSridhar,Founder,ChairmanandChiefExecutiveOfficerRandyFurr,ChiefFinancialOfficer9

BloomEnergySummaryGAAPProfitandLossStatements($000)Q2’19Q1’19Q2’18Revenue233,782200,707168,881CostofRevenue192,109184,952136,110GrossProfit41,67315,75532,771GrossMargin17.8%7.8%19.4%OperatingExpenses91,79388,39638,026OperatingIncome(50,120)(72,641)(5,255)OperatingMargin(21.4%)(36.2%)(3.1%)Non-operatingExpenses112,09611,80040,422NetLoss(62,216)(84,441)(45,677)1.Non-OperatingExpensesandtaxprovisionandnon-controllinginterestBloomEnergySummaryNon-GAAPFinancialInformationExcludingStockBasedQ2’19Q1’19Q2’18Compensation($000)Revenue233,782200,707168,881CostofRevenue181,718170,580134,139GrossProfit(Loss)52,06430,12734,742GrossMargin22.3%15.0%20.6%OperatingExpenses50,96738,88632,179OperatingIncome1,097(8,759)2,563OperatingMargin0.5%(4.4%)1.5%Non-operatingExpenses12,09611,80040,422Net(Loss)(10,999)(20,559)(37,859)AdjustedEBITDA21,8832,10612,467PPAIIUpgradeQ2’19ExcludingPPAIIUpgradeQ2’19ExcludingMethodologyBridgeSBCAdjustmentstoSBCNormalized($000)NormalizewithwithQ2’19Q2’19EstimatesEstimatesRevenue233,782(40,611)193,171CostofRevenue181,718(33,694)148,024GrossProfit(Loss)52,06445,147GrossMargin22.3%23.4%OperatingExpenses50,967(5,934)45,033OperatingIncome1,097114OperatingMargin0.5%0.1%Non-operatingExpenses12,096(983)11,113Net(Loss)(10,999)(10,999)AdjustedEBITDA21,883(9,064)12,81910

Stock-BasedCompensationBridgeQ2’19Q1’19Q2’18($000)GrossProfit(Loss)41,67315,75532,771Stock-basedcompensation-10,39114,3721,971CostofRevenueGrossProfit–52,06430,12734,742excludingSBCOperatingExpenses91,79388,39638,026Stock-basedcompensation-40,82649,5105,847OperatingExpensesOperatingExpenses-50,96738,88632,179excludingSBCUpfrontOngoingTotalQ2’19NonGAAPFinancialProduct+Product+TotalServiceElectricityQ2’19InformationInstallInstallOngoing$’000Acceptances(100kW)2710271Revenue195,19123,6591,99312,93938,591233,782CostofRevenue142,92118,3841,97118,44238,797181,718GrossProfit52,2705,27522(5,503)(206)52,064Opex50,967OperatingIncome1,097Product&InstallUnitQ2’19Q2’19Q1’19Q2’18Economics($/kW)NormalizedwithQ2’19EstimatesASP7,2035,7046,8707,093TISC15,2744,3295,6585,607Profit(Loss)1,9291,3751,2121,4861.TotalinstalledsystemcostisacostmetrictoapproximatetheproductandinstallcostofgoodssoldonaperkilowattbasisWorkingCapitalQ2’19Q1’19Q2’18MetricsDaysofSales243826DaysofInventory737085DaysofPayables37353511

BloomEnergyServershavebeendeployedatapproximately600locationsacrossdiverseindustriesinfourcountries.12

BloomEnergyCondensedConsolidatedBalanceSheet(unaudited)(inthousands)June30,December31,20192018AssetsCurrentassets:Cashandcashequivalents$308,009$220,728Restrictedcash23,70628,657Short-terminvestments—104,350Accountsreceivable38,29684,887Inventories104,934132,476Deferredcostofrevenue86,43462,147Customerfinancingreceivable5,8175,594Prepaidexpenseandothercurrentassets25,08833,742Totalcurrentassets592,284672,581Property,plantandequipment,net406,610481,414Customerfinancingreceivable,non-current64,14667,082Restrictedcash,non-current39,35131,100Deferredcostofrevenue,non-current59,213102,699Otherlong-termassets60,97534,792Totalassets$1,222,579$1,389,668Liabilities,RedeemableNoncontrollingInterest,Stockholders’DeficitandNoncontrollingInterestsCurrentliabilities:Accountspayable$61,427$66,889Accruedwarranty12,39319,236Accruedothercurrentliabilities109,72269,535Deferredrevenueandcustomerdeposits129,32194,158Currentportionofrecoursedebt15,6818,686Currentportionofnon-recoursedebt7,65418,962Currentportionofnon-recoursedebtfromrelatedparties2,8892,200Totalcurrentliabilities339,087279,666Derivativeliabilities,netofcurrentportion13,07910,128Deferredrevenueandcustomerdeposits,netofcurrentportion181,221241,794Long-termportionofrecoursedebt362,424360,339Long-termportionofnon-recoursedebt219,182289,241Long-termportionofrecoursedebtfromrelatedparties27,73427,734Long-termportionofnon-recoursedebtfromrelatedparties32,64334,119Otherlong-termliabilities58,41755,937Totalliabilities1,233,7871,298,958Redeemablenoncontrollinginterest50557,261Stockholders’deficit(115,785)(91,661)Noncontrollinginterest104,072125,110Totalliabilities,redeemablenoncontrollinginterest,stockholders'deficitandnoncontrollinginterest$1,222,579$1,389,66813

BloomEnergyCondensedConsolidatedStatementofOperations(unaudited)(inthousands,exceptpersharedata)ThreeMonthsEndedJune30,2019June30,2018Revenue:Product$179,899$108,654Installation17,28526,245Service23,65919,975Electricity12,93914,007Totalrevenue233,782168,881Costofrevenue:Product131,95270,802Installation22,11637,099Service19,59919,260Electricity18,4428,949Totalcostofrevenue192,109136,110Grossprofit41,67332,771Operatingexpenses:Researchanddevelopment29,77214,413Salesandmarketing18,3598,254Generalandadministrative43,66215,359Totaloperatingexpenses91,79338,026Gain(loss)fromoperations(50,120)(5,255)Interestincome1,700444Interestexpense(16,725)(22,525)Interestexpensetorelatedparties(1,606)(2,672)Otherincome(expense),net(222)(855)Lossonrevaluationofwarrantliabilitiesandembeddedderivatives—(19,198)Netlossbeforeincometaxes(66,973)(50,061)Incometaxprovision258128Netloss(67,231)(50,189)Netlossattributabletononcontrollinginterestsandredeemablenoncontrollinginterests(5,015)(4,512)NetlossattributabletoClassAandClassBcommonstockholders$(62,216)$(45,677)NetlosspershareattributabletoClassAandClassBcommonstockholders,basicanddiluted$(0.55)$(4.34)WeightedaveragesharesusedtocomputenetlosspershareattributabletoClassAandClassBcommonstockholders,basicanddiluted133,62210,53614

BloomEnergyCondensedConsolidatedStatementofCashFlows(unaudited)(inthousands)SixMonthsEndedJune30,2019June30,2018Cashflowsfromoperatingactivities:Netloss$(155,504)$(72,537)Adjustmentstoreconcilenetlosstonetcashusedinoperatingactivities:DepreciationandAmortization31,02321,554Write-offofproperty,plantandequipment,net2,704661Write-offofPPAIIdecommissionedassets25,613—Debtmake-wholepenalty5,934—Revaluationofderivativecontracts55528,611Stock-basedcompensation115,10015,773Lossonlong-termRECpurchasecontract60100Revaluationofstockwarrants—(7,456)Revaluationofpreferredstockwarrants—(166)Amortizationofdebtissuancecost11,25514,420Changesinoperatingassetsandliabilities:Accountsreceivable46,591(6,486)Inventories27,542(46,172)Deferredcostofrevenue19,19848,760Customerfinancingreceivableandother2,7132,439Prepaidexpensesandothercurrentassets8,4774,544Otherlong-termassets1,02815Accountspayable(5,461)5,217Accruedwarranty(6,843)(1,883)Accruedothercurrentliabilities7,213(12,815)Deferredrevenueandcustomerdeposits(25,411)(31,817)Otherlong-termliabilities3,41918,652Netcashprovidedby(usedin)operatingactivities115,206(18,586)Cashflowsfrominvestingactivities:Purchaseofproperty,plantandequipment(18,882)(1,595)Paymentsforacquisitionofintangibleassets(970)—Purchaseofmarketablesecurities—(15,732)Proceedsfrommaturityofmarketablesecurities104,50027,000Netcashprovidedbyinvestingactivities84,6489,673Cashflowsfromfinancingactivities:Repaymentofdebt(83,997)(9,201)Repaymentofdebttorelatedparties(1,220)(627)Debtmake-wholepayment(5,934)—PaymentstoredeemablenoncontrollinginterestsrelatedtothePPAIIdecommissioning(18,690)—Distributionstononcontrollingandredeemablenoncontrollinginterests(7,753)(11,582)Proceedsfromissuanceofcommonstock8,321742Paymentsofinitialpublicofferingissuancecosts—(1,160)Netcashusedinfinancingactivities(109,273)(21,828)Netincrease(decrease)incash,cashequivalents,andrestrictedcash90,581(30,740)Cash,cashequivalents,andrestrictedcash:Beginningofperiod280,484180,612Endofperiod$371,065$149,87215

BloomEnergyReconciliationofGAAPtoNon-GAAPFinancialMeasures(Unaudited)(InThousands)GrossMargintoGrossMarginExcludingStockBasedCompensationGrossmarginexcludingstockbasedcompensation(SBC)isasupplementalmeasureofoperatingperformancethatdoesnotrepresentandshouldnotbeconsideredanalternativetogrossmargin,asdeterminedunderGAAP.Thismeasureremovestheimpactofstockbasedcompensation.WebelievethatgrossmarginexcludingstockbasedcompensationsupplementstheGAAPmeasureandenablesustomoreeffectivelyevaluateourperformanceperiod-over-period.Areconciliationofgrossmarginexcludingstockbasedcompensationtogrossmargin,themostdirectlycomparableGAAPmeasure,andthecomputationofgrossmarginexcludingstockbasedcompensationareasfollows:Q2’19Q1’19Q2’18Revenue233,782200,707168,881GrossProfit41,67315,75532,771GrossMargin%17.8%7.8%19.4%Stock-basedcompensation(CostofRevenue)10,39114,3721,971GrossProfitexcludingSBC52,06430,12734,742GrossMarginexcludingSBC%22.3%15.0%20.6%OperatingIncometoOperatingIncomeExcludingStockBasedCompensationOperatingincomeexcludingstockbasedcompensationisasupplementalmeasureofoperatingperformancethatdoesnotrepresentandshouldnotbeconsideredanalternativetooperatingincome,asdeterminedunderGAAP.Thismeasureremovestheimpactofstockbasedcompensation.WebelievethatoperatingincomeexcludingstockbasedcompensationsupplementtheGAAPmeasureandenableustomoreeffectivelyevaluateourperformanceperiod-over-period.Areconciliationofoperatingincomeexcludingstockbasedcompensationtooperatingincome,themostdirectlycomparableGAAPmeasure,andthecomputationofoperatingincomeexcludingstockbasedcompensationareasfollows:Q2’19Q1’19Q2’18OperatingIncome(50,120)(72,641)(5,255)Stock-basedcompensation51,21763,8827,818OperatingIncomeexcludingSBC1,097(8,759)2,56316

NetLosstoAdjustedNetLossandComputationofAdjustedNetLossperShareAdjustednetlossandadjustednetlosspersharearesupplementalmeasuresofoperatingperformancethatdonotrepresentandshouldnotbeconsideredalternativestonetlossandnetlosspershare,asdeterminedunderGAAP.Thismeasureremovestheimpactofthenon-controllinginterestsassociatedwithourlegacyPPAentities,therevaluationofwarrantsandderivatives,fairmarketvalueadjustmentforthePPAderivatives,andstockbasedcompensation,allofwhicharenon-cashcharges.WebelievethatadjustednetlossandadjustednetlosspersharesupplementGAAPmeasuresandenableustomoreeffectivelyevaluateourperformanceperiod-over-period.Areconciliationofadjustednetlosstonetloss,themostdirectlycomparableGAAPmeasure,andthecomputationofadjustednetlosspershareareasfollows:Q2’19Q1’19Q2’18NetlosstoCommonStockholders(62,216)(84,441)(45,677)Lossfornon-controllinginterests1(5,015)(3,832)(4,512)Loss(gain)onwarrant&derivativesliabilities2--19,198Loss(gain)ontheFairValueAdjustmentsfor1,034(406)(803)certainPPAderivatives3Stock-basedcompensation51,21763,8827,818AdjustedNetLoss(14,980)(24,797)(23,976)Adjustednetlosspershare$(0.13)$(0.22)$(0.27)Proformaweightedaveragesharesoutstandingattributabletocommon,Basic114,543112,75187,270andDiluted(thousands)41.Representstheprofitsandlossesallocatedtothenon-controllinginterestsunderthehypotheticalliquidationatbookvalue(HLBV)method2.Representstheadjustmentstothefairvalueofthewarrantsissuedorembeddedderivativesassociatedwiththeconvertiblenotes3.RepresentstheadjustmentstothefairvalueofthederivativeforwardcontractforonePPAentity(ourfirstPPAcompany),awhollyownedsubsidiary4.IncludesadjustmentstoreflectassumedconversionofredeemableconvertiblepreferredstockandconvertiblepromissorynotesNetLosstoAdjustedEBITDAAdjustedEBITDAisanon-GAAPsupplementalmeasureofoperatingperformancethatdoesnotrepresentandshouldnotbeconsideredanalternativetooperatinglossorcashflowfromoperations,asdeterminedbyGAAP.AdjustedEBITDAisdefinedasnetincome(loss)beforeinterestexpense,incometaxexpense,non-controllinginterest,revaluations,stockbasedcompensationanddepreciationandamortizationexpense.WeuseAdjustedEBITDAtomeasuretheoperatingperformanceofourbusiness,excludingspecificallyidentifieditemsthatwedonotbelievedirectlyreflectourcoreoperationsandmaynotbeindicativeofourrecurringoperations.AdjustedEBITDAmaynotbecomparabletosimilarlytitledmeasuresprovidedbyothercompaniesduetopotentialdifferencesinmethodsofcalculations.AreconciliationofAdjustedEBITDAtonetlossisasfollows:Q2’19Q1’19Q2’18NetlosstoCommonStockholders(62,216)(84,441)(45,677)Lossfornon-controllinginterests1(5,015)(3,832)(4,512)Loss(gain)onwarrant&derivativesliabilities2--19,198Loss(gain)ontheFairValueAdjustmentsfor1,034(406)(803)certainPPAderivatives3Stock-basedcompensation51,21763,8827,818Depreciation&Amortization19,75211,27110,707Provision(benefit)forIncomeTax258208128InterestExpense/OtherMisc16,85315,42425,608AdjustedEBITDA21,8832,10612,4671.Representstheprofitsandlossesallocatedtothenon-controllinginterestsunderthehypotheticalliquidationatbookvalue(HLBV)method2.Representstheadjustmentstothefairvalueofthewarrantsissuedorembeddedderivativesassociatedwiththeconvertiblenotes3.RepresentstheadjustmentstothefairvalueofthederivativeforwardcontractforonePPAentity(ourfirstPPAcompany)17

SafeHarborStatement/Forward-LookingStatementsThislettermaybedeemedtocontainforward-lookingstatements,whicharesubjecttothesafeharborprovisionsofthePrivateSecuritiesLitigationReformActof1995.Theseforward-lookingstatementsinclude,amongotherthings,statementsregardingourstrategies,trendsandexpectedexpansionandestimatesoffutureacceptances,AverageSalesPriceandTotalInstalledSystemCosts.Readersarecautionedthattheseforward-lookingstatementsareonlypredictionsandmaydiffermateriallyfromactualfutureeventsorresultsduetoavarietyoffactorsincluding,butnotlimitedto,ourlimitedoperatinghistory,theemergingnatureofthedistributedgenerationmarket,thesignificantlosseswehaveincurredinthepast,thesignificantupfrontcostsofourEnergyServers,theriskofmanufacturingdefects,theaccuracyofourestimatesregardingtheusefullifeofourEnergyServers,theavailabilityofrebates,taxcreditsandothertaxbenefits,ourrelianceontaxequityfinancingarrangements,ourrelianceuponalimitednumberofcustomers,ourlengthysalesandinstallationcycle,construction,utilityinterconnectionandotherdelaysandcostoverrunsrelatedtotheinstallationofourEnergyServers,businessandeconomicconditionsandgrowthtrendsincommercialandindustrialenergymarkets,globaleconomicconditionsanduncertaintiesinthegeopoliticalenvironment;overallelectricitygenerationmarketandotherrisksanduncertainties.Youshouldnotrelyuponforward-lookingstatementsaspredictionsoffutureevents.Althoughwebelievethattheexpectationsreflectedinourforward-lookingstatementsarereasonable,wecannotguaranteethatthefutureresults,performance,oreventsandcircumstancesdescribedintheforward-lookingstatementswillbeachievedoroccur.Moreover,neitherwe,noranyotherperson(includinganypotentialunderwriterofoursecurities),assumeresponsibilityfortheaccuracyandcompletenessoftheforward-lookingstatements.Weundertakenoobligationtoupdateanyforward-lookingstatementsforanyreasonafterthedateofthispresentationtoconformthesestatementstoactualresultsortochangesinourexpectations,exceptasrequiredbylaw.Theseforward-lookingstatementsshouldalsobereadinconjunctionwiththeothercautionarystatementsthatareincludedelsewhereinourpublicfilings,includingundertheheading“RiskFactors”intheCompany’sQuarterlyReportonForm10-QforthequarterendedMarch31,2019andsubsequentfilingswiththeSEC.ThesestatementsweremadeasofAugust12,2019,andreflectmanagement’sviewsandexpectationsatthattime.Wedisclaimanyobligationtoupdateorreviseanyforward-lookingstatementsinthislettertoreflectsubsequentevents,actualresultsorchangesinourexpectations.Thisletterincludescertainnon-GAAPfinancialmeasuresasdefinedbySECrules.Thesenon-GAAPfinancialmeasuresareinadditionto,andnotasubstitutefororsuperiorto,measuresoffinancialperformancepreparedinaccordancewithU.S.GAAP.Thereareanumberoflimitationsrelatedtotheuseofthesenon-GAAPfinancialmeasuresversustheirnearestGAAPequivalents.Forexample,othercompaniesmaycalculatenon-GAAPfinancialmeasuresdifferentlyormayuseothermeasuretoevaluatetheirperformance,allofwhichcouldreducetheusefulnessofournon-GAAPfinancialmeasuresastoolsforcomparison.Weurgeyoutoreviewthereconciliationsofournon-GAAPfinancialmeasurestothemostdirectlycomparableU.S.GAAPfinancialmeasuressetforthinthisletter,andnottorelyonanysinglefinancialmeasuretoevaluateourbusiness.18

Bloom Energy Announces Second Quarter 2019 Financial Results

Revenue of $233.8 million271 Acceptances, 50% Higher than Q2’18

SANJOSE,CA,August12,2019--BloomEnergyCorporation(NYSE:BE)todayannouncedfinancialresultsforthesecondquarterendedJune30,2019.TheCompanyhasissuedashareholderletterwithadiscussionofitssecondquarter2019financialresultsandforwardestimates,whichmaybeaccessedontheInvestorRelationssectionoftheCompany’swebsiteat:https://investor.bloomenergy.com

BloomEnergywillholdaconferencecalltodaytodiscussresults.

Conference Call Details

BloomEnergywillhostaconferencecalltoday,August12,2019,at2:00p.m.PacificTime(5:00p.m.EasternTime)todiscussfinancialresults.Toparticipateinthelivecall,analystsandinvestorsmaycall+1(844)828-0524andenterthepasscode:8859887.ThosecallingfromoutsidetheU.S.maydial+1(647)689-5146andenterthesamepasscode:8859887.AsimultaneouslivewebcastwillalsobeavailableundertheInvestorRelationssectionontheCompany’swebsiteathttps://investor.bloomenergy.com/.Followingthewebcast,anarchivedversionwillbeavailableontheCompany’swebsiteforthirtydays.AtelephonicreplayoftheconferencecallwillbeavailableuntilMonday,August19,2019,bydialing(800)585-8367or(416)621-4642andenteringpasscode8859887.

About Bloom Energy

BloomEnergy’smissionistomakeclean,reliable,andaffordableenergyforeveryoneintheworld.TheCompany’sproduct,theBloomEnergyServer,delivershighlyreliableandresilient,‘Always-On’electricpowerthatiscleanandsustainable.Bloom’scustomersincludetwenty-fiveoftheFortune100companiesandleadersincloudservicesanddatacenters,healthcare,retail,financialservicesandmanyotherindustries.Formoreinformation,visitwww.bloomenergy.com.

Investor Relations:

MarkMeslerBloomEnergy+1(408)543-1743Mark.Mesler@bloomenergy.com

Media:

DavidMcCullochBloomEnergy+1(408)543-1087David.McCulloch@bloomenergy.com