Company: Bloom Energy Corporation
Symbol: BE
Description: Their mission is to make clean, reliable, and affordable energy for everyone in the world.
Trade Date: 7/25
Shares: 18.0 million
Price Range: $13.00-$15.00
Underwriter(s): J.P. Morgan, Morgan Stanley, Credit Suisse, KeyBanc Capital, BofA Merrill Lynch
Co-Manager(s): Baird, Cowen, HSBC, Oppenheimer & Co., Raymond James
Terms Added: 7-9-18
Business: The commercial and industrial (C&I) segments are their initial focus. Their solution, the Bloom Energy Server, is a stationary power generation platform built for the digital age and capable of delivering highly reliable, uninterrupted, 24×7 constant (or base load) power that is also clean and sustainable. The Bloom Energy Server converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion, resulting in very high conversion efficiencies and lower harmful emissions than conventional fossil fuel generation. A typical configuration produces 250 kilowatts of power in a footprint roughly equivalent to that of half of a standard 30 foot shipping container, or approximately 125 times more space-efficient than solar power generation. 250 kilowatts of power is roughly equivalent to the constant power requirement of a typical big box retail store. Any number of these Energy Server systems can be clustered together in various configurations to form solutions from hundreds of kilowatts to many tens of megawatts. Some of their largest customers are AT&T, Caltech, Delmarva Power & Light Company, Equinix, The Home Depot, Kaiser Permanente and The Wonderful Company. They also work actively with financing partners, such as The Southern Company, that purchase their systems that are deployed at end customers’ facilities in order to provide the electricity as a service. In 2017, their largest customers were Southern Company, which finances their Energy Servers for a large number of end customers, and Delmarva. Their customer base included 25 of the Fortune 100 companies as of March 31, 2018.
Financials: Their total revenue was $208.5 million and $376.0 million and their net loss was $336.3 million and $281.3 million in 2016 and 2017, respectively. In the first quarter of 2018, their total net revenue increased 135% to $169.4 million and their net loss decreased 65.8% to $22.3 million, compared to the same period in the previous year.
Book-Building Status: The way the book comes together during the week of the roadshow is the most critical indicator to first-day and first-week performance. IPO Boutique uses its 45 years of experience and sources all over the street to gather daily subscription levels, specific price guidance and what type of investors are currently in the book or are anchoring orders in the book. In addition, recent underwriter performance on sector specific deals is a strong factor that IPO Boutique takes into account when determining if our clients should indicate for any offering.
IPO Boutique subscription clients receive daily updates on this critical information.
Conclusion: IPO Boutique provides ratings, daily commentary and a forecast for how this IPO will open vs. its offering price. We have kept a track record with our performance for last 12 years at our website. Additionally, here’s a 2017 recap of our performance to showcase the value of IPO Boutique’s service.
Indicate with confidence, SUBSCRIBE today.
English
Arabic
Chinese (Simplified)
Dutch
French
German
Italian
Portuguese
Russian
Spanish