Bloom Energy, a fuel cell and electrolyzer manufacturer, disclosed its financial performance for Q3 2024. Revenue for the quarter was reported at $330.4 million, down 17.46% YoY, missing analyst estimates. The company attributed this decrease to the inherent variability of its project-based business model. However, Bloom's gross profit surged to $78.7 million, significantly up from a loss in the same period last year, resulting in a substantial gross margin increase to 23.8%. While the non-GAAP gross margin dropped slightly, the operating loss improved YoY. Bloom also reported on an 80 MW fuel cell project with SK Ecoplant and additional orders from Quanta. One of the highlights was Bloom's selection by the U.S. Department of Energy for a $50 million grant to develop solid electrolyte materials for advanced batteries. The company plans to expand into the data center market, offering hydrogen-based solutions. During an earnings call, Bloom's CEO emphasized the importance of transmission solutions and utility partnerships to streamline projects. The company remains optimistic about power shortages globally, positioning itself to help utilities with its innovative offerings. Looking ahead, Bloom aims to establish a production line for advanced battery materials and has secured partnerships in Korea's battery ecosystem. Despite the Q3 revenue dip, the company recorded a revenue increase in the previous quarter due to growing interest in its products. Bloom Energy remains focused on strategic partnerships, revenue growth, and technology advancements to drive future expansion and market resilience.