Jul. 9 at 1:21 AM
learned a few things on
$BE. So tired of these businesses getting pumped. If lying about Scandium and sending to intermediary countries then there is likely more... Here is what I found.
1) Bloom has cycled through four different Chief Financial Officers (CFOs) since the start of 2024, including a period of nearly a year where the company operated with no permanent head of corporate finance
2) The Backlog vs. RPO Disconnect. Bloom frequently boasts an unaudited, non-binding "order backlog" of
$20 billion to justify its steep price-to-sales multiple (currently sitting at a premium ~29x). However, looking at their audited, legally binding Remaining Performance Obligations (RPOs) as of March 31, the real number is just
$492.6 million.
The remaining ~
$19.5 billion consists of non-binding Letters of Intent (LOIs), highly conditional options, or memorandums of understanding that can be cancelled with zero penalty.
