Bloom Energy Corp. /zigman2/quotes/209802424/composite BE +0.12% shares plunged more than 10% in late trading Wednesday after the company said that it will restate more than three years of financial statements due to miscalculations. Bloom said that it recognized revenue from certain customer contracts immediately instead of over the life of the contract, as rules require. The company said that the change will have a material effect on five quarters of results, from the second quarter of 2018 to the third quarter of 2019, and a smaller effect on previous quarters dating back to the beginning of 2016. In total, it is expected to decrease all revenue collected by Bloom from the beginning of 2016 through the third quarter of 2019 by less than 10%. Bloom, which offers energy systems powered by fuel cells, went public in July 2018. The company said it still plans to file its annual report by the end of the quarter, as required, and will report fourth-quarter results on or before March 16. Bloom gave some operational metrics for the quarter in its release, but no financial results except for cash balance at the end of the year, which increased $19 million from the end of the third quarter. Bloom also said it had filed an 8-K with the Securities and Exchange Commission with more information about the restatements, but that filing was not available on the SEC's Edgar database as of publication. Bloom stock, which closed Wednesday with a 3.7% gain at $10.46, fell to less than $9.50 in after-hours trading.