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Bloom Energy Maintains Momentum in Fuel Cell Revenue but Losses Persist

Bloom Energy posted strong revenue results in its first-quarter 2019 financial report — a revenue story that distinguishes Bloom from the rest of the largely moribund fuel cell pack.

But Bloom continues to lose money, and that is very much consistent with companies such as Fuel Cell Energy, Plug Power and Ballard Power in the profitless fuel cell industry.

As GTM has long chronicled, no public fuel cell firm in the history of public fuel cell firms has ever posted an annual GAAP profit. Bloom is the fuel cell revenue leader but lost $242 million in 2018 (on revenue of $742 million) and $263 million in 2017.

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