What is an income statement waterfall?

An income statement waterfall is a bar chart that walks from total revenue down to net income, with each step showing how much a cost or tax line removes (or adds). Subtotals — gross profit, operating income, pre-tax income — are anchored to zero so the cascade reconciles exactly to the bottom line.

How much of Bloom Energy (BE) revenue becomes net income?

For TTM through Q1 2026, Bloom Energy turned $2.45B of revenue into $6.03M of net income — a net margin of 0.2%. The waterfall shows where the rest goes: cost of revenue, operating expenses, non-operating items, and taxes.

What are Bloom Energy (BE) gross, operating, and net margins?

For TTM through Q1 2026, Bloom Energy reported a gross margin of 31.1%, an operating margin of 8.2%, and a net margin of 0.2%. Each subtotal in the waterfall corresponds to one of these margins.

Why does Bloom Energy (BE) have such a high (or low) gross margin?

Gross margin (gross profit ÷ revenue) reflects how much of each revenue dollar remains after direct production costs. Capital-light software and platform businesses often show gross margins above 60–80% because their cost of revenue is mainly hosting and support. Hardware, retail, and commodity businesses show lower gross margins because raw materials and manufacturing costs are significant. The waterfall makes this visible at a glance — the size of the "Cost of Revenue" bar relative to Revenue is the gross margin complement.

What is the difference between gross, operating, and net margin?

Gross margin = (Revenue − Cost of Revenue) ÷ Revenue. It measures production efficiency. Operating margin = Operating Income ÷ Revenue. It adds operating expenses (R&D, S&M, G&A) and measures the profitability of core operations. Net margin = Net Income ÷ Revenue. It also includes interest, other income/expense, and taxes, and represents the shareholder take after everything.

Bloom Energy (BE) Income Statement Waterfall

Revenue

$2.45B

Gross Margin

+31.1%

Operating Margin

+8.2%

Net Margin

+0.2%

Income statement waterfall for Bloom Energy (BE) — TTM through Q1 2026

Net income: $6.03M

Margin breakdown for Bloom Energy (BE) — TTM through Q1 2026

Line item	Amount	Running total
Revenue	$2.45B	$2.45B
Cost of Revenue	-$1.69B	$762M
Gross Profit	$762M	$762M
Operating Expenses	-$560M	$202M
Operating Income	$202M	$202M
Other Income / Expense	-$189M	$12.7M
Pre-tax Income	$12.7M	$12.7M
Income Tax	-$2.75M	$9.96M
Other Items	-$3.93M	$6.03M
Net Income	$6.03M	$6.03M

Revenue$2.45B
Cost of Revenue-$1.69B
Gross Profit$762M
Operating Expenses-$560M
Operating Income$202M
Other Income / Expense-$189M
Pre-tax Income$12.7M
Income Tax-$2.75M
Other Items-$3.93M
Net Income$6.03M

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