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BNRG

Brenmiller Energy Ltd

BNRG

Brenmiller Energy Ltd • NASDAQ
$1.16 ▼ -4.92% (-0.06)
Market Cap $3.16 M
52w High $15.30
52w Low $1.00
Dividend Yield 0%
P/E -0.15
Volume 19.19K
Outstanding Shares 2.73M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2024 $0 $2.305M $-2.595M 0% $-0.37 $-2.507M
Q3-2024 $0 $2.305M ▼ $-2.595M ▼ 0% $-0.37 ▼ $-2.507M ▲
Q2-2024 $0 $2.483M $-790.5K 0% $-0.23 $-2.545M
Q1-2024 $0 ▼ $2.483M ▲ $-790.5K ▲ 0% ▲ $-0.23 ▲ $-2.545M ▼
Q4-2023 $20.5K $2.077M $-2.298M -11.21K% $-1.1 $-2.193M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2024 $4.101M $11.914M $7.428M $4.486M
Q3-2024 $4.101M ▼ $11.914M ▼ $7.428M ▲ $4.486M ▼
Q2-2024 $6.966M $13.924M $7.388M $6.536M
Q1-2024 $6.966M ▲ $13.924M ▲ $7.388M ▼ $6.536M ▲
Q4-2023 $3.183M $10.594M $7.714M $2.88M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2024 $-2.595M $-2.821M $-87.5K $1.482M $0 $-2.867M
Q3-2024 $-2.595M ▼ $-2.821M ▼ $-87.5K ▲ $1.482M ▼ $0 ▼ $-2.867M ▼
Q2-2024 $-790.5K $-1.932M $-123.5K $3.987M $1.891M $-2.058M
Q1-2024 $-790.5K ▲ $-1.932M ▲ $-123.5K ▲ $3.987M ▲ $1.891M ▲ $-2.058M ▲
Q4-2023 $-2.252M $-1.953M $-299.5K $327K $-1.778M $-2.232M

Five-Year Company Overview

Income Statement

Income Statement Brenmiller looks like a classic early-stage, pre-revenue story. Over the past several years, it has essentially reported no meaningful sales and steady operating losses. The loss level appears modest in absolute terms, but because there is no revenue to offset costs, the business is still firmly in the development stage rather than in a mature commercial phase. Earnings per share have been negative every year, reflecting ongoing dilution and small size. Overall, this is a company investing ahead of revenue, not one yet supported by recurring customer income.

Balance Sheet

Balance Sheet The balance sheet appears very small and quite light. Total assets, cash, debt, and equity are all at low levels, which suggests limited financial cushion and a tight capital structure. Cash has moved down over time and debt has occasionally been used, implying periodic funding needs. Equity is thin, which leaves less room to absorb setbacks. In simple terms, the company seems financially lean, with a balance sheet that likely depends on continued external funding rather than internally generated capital.

Cash Flow

Cash Flow Cash flow is consistently negative from operations, which is typical for a pre-revenue technology company but still a key risk. The firm is spending cash to build and commercialize its technology without yet bringing cash in from meaningful sales. Free cash flow is also negative, although capital spending looks restrained, suggesting that most outflows are for operating and development costs rather than heavy fixed investments. The business model currently relies on access to capital markets or other financing to bridge the gap until projects scale and begin to generate recurring cash.

Competitive Edge

Competitive Edge On the strategic side, Brenmiller’s position is much stronger than its financials might suggest. It is focused on a niche within energy storage—high‑temperature thermal storage using crushed rock—where there are relatively few specialized players. Its operational plant in Israel gives it manufacturing scale in a space where most competitors are still pilot‑scale. The technology’s flexibility (able to take power from the grid, renewables, or waste heat and return it as process heat) fits directly into the industrial decarbonization theme. However, the moat is still emerging: real-world deployments are limited, customer adoption is early, and much of the value today resides in a future project pipeline rather than proven, recurring contracts.

Innovation and R&D

Innovation and R&D Innovation is clearly the core of Brenmiller’s story. The company has developed a patented thermal battery system that relies on abundant rock instead of scarce battery materials, and it has wrapped this into a modular design that can scale for different industries. It is experimenting not only with the technology itself but also with new business models like “heat-as-a-service,” where customers pay for delivered clean heat rather than buying equipment outright. The roadmap includes integrations with small modular reactors and gas turbines, which, if successful, could open additional large markets. At the same time, these are largely forward-looking initiatives, so there is meaningful technological and execution risk: translating patents and pilots into broad, profitable adoption is still a work in progress.

Summary

Brenmiller is an early-stage, innovation-heavy clean energy company whose financials show a small, loss-making, pre-revenue profile, while its strategy and technology point to much larger ambitions. The income statement and cash flows reflect a business still in build-out mode, not yet supported by commercial scale. The balance sheet looks thin, implying reliance on external funding and limited margin for error. On the positive side, the firm operates in a fast-growing area—industrial decarbonization and energy storage—with a distinctive technology platform, some manufacturing scale, and a differentiated service model. The key uncertainty is whether and how quickly its project pipeline can convert into stable, sizable revenue and positive cash flow before financial constraints become limiting.

NEWS

November 18, 2025 · 8:30 AM UTC

Brenmiller to Present at Enlit Europe 2025: Leading High-Impact Sessions on Energy Storage and AI Shaping the Future of Clean Energy

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November 3, 2025 · 8:30 AM UTC

Brenmiller's bGen ZERO TES Wins POWER's 2025 Commercial & Industrial Generation Award

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September 30, 2025 · 9:15 AM UTC

Brenmiller Reports First Half 2025 Financial Results, Operational Updates, and Upcoming Catalysts

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September 29, 2025 · 4:05 PM UTC

Brenmiller Signs System Purchase Agreement with Baran Energy for bGen ZERO Systems at Tempo Beverages and Wolfson Medical Center

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September 2, 2025 · 8:00 AM UTC

Brenmiller Advances Tempo and Wolfson TES Projects Expected to Generate Revenue from bGen Starting 2026

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