Bloom Energy — 2026Q3 earnings
reported 2026-07-28
EPS $0.78 vs $0.41 est — beat
next session -1.9% (close 2026-07-28 → 2026-07-29)
Source
Press release ↗Summary
The first $1 billion quarter in company history — revenue of $1,065.4 million rose 165.5% on a 215.4% surge in product revenue — with a swing to GAAP operating income of $182.2 million and positive operating cash flow of $226.4 million, and full-year guidance raised to $3.9-4.2 billion, roughly 100% growth at the midpoint. The demand engine is AI data center power: all major US hyperscalers and over a dozen neoclouds, AI labs and colocation operators have validated Bloom's solutions for their AI factories. Management framed it as structural rather than one-off — Brookfield expanded its project-financing framework fivefold to $25 billion in June, revenue grew 166% against just 48% opex growth, and the CFO said Bloom is gated by neither manufacturing capacity nor supply chain.
Earnings call
Earnings call webcast ↗Review
From the report
A record quarter on every line: Bloom crossed $1 billion in quarterly revenue for the first time ($1,065.4M, +165.5% YoY) on a 215.4% surge in product revenue, swung to GAAP operating income and positive operating cash flow, and raised full-year 2026 guidance to $3.9B-$4.2B — roughly 100% growth at the midpoint — with management framing AI data center power (hyperscalers, neoclouds, colocation) as the demand engine.
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Revenue reached a record $1,065.4 million, up 165.5% year over year, led by product revenue of $935.4 million, up 215.4%. show quote
“Revenue of $1,065.4 million increased 165.5% compared to $401.2 million. Product revenue of $935.4 million increased 215.4% compared to $296.6 million.”
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Bloom swung to GAAP operating income of $182.2 million from a $3.5 million operating loss a year earlier; non-GAAP operating income was $239.6 million. show quote
“Operating income of $182.2 million increased $185.7 million compared to $3.5 million operating loss. Non-GAAP operating income of $239.6 million increased $211.0 million compared to $28.6 million.”
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Operating cash flow turned positive at $226.4 million, a $439.5 million improvement from the $213.1 million of cash used a year earlier. show quote
“Cash flow from operating activities of $226.4 million increased $439.5 million from a net cash used in operating activities of $213.1 million.”
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Full year 2026 revenue guidance was raised to $3.9 billion-$4.2 billion, about 100% year-over-year growth at the midpoint. show quote
“Raises full year 2026 revenue guidance to $3.9 billion – 4.2 billion, representing 100% year-over-year growth at the midpoint”
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The CEO tied the quarter to AI infrastructure demand, saying all major US hyperscalers and over a dozen US neoclouds, AI labs, and colocation data center operators have validated and approved Bloom's power solutions for their AI factories. show quote
“Today, all the major US hyperscalers and over a dozen US neoclouds, AI labs, and colocation data center operators have validated and approved our power solutions for their AI factories. Bloom is now a standard for AI onsite power.”
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From the call
Management framed the quarter as a structural acceleration rather than a one-off: guidance now implies doubling revenue in a single year, Brookfield expanded its project-financing framework fivefold to $25 billion in June, the CFO called out structural operating leverage (revenue +166% vs. opex +48%), and said Bloom is gated by neither manufacturing capacity nor supply chain.
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The CEO said Bloom is now guiding to double revenue in just one year, having achieved its first $1 billion quarter. show quote
“Now, we are guiding to double that revenue in just one year, having achieved our first $1 billion quarter. Bloom Energy's business is accelerating.”
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The Brookfield financing partnership, formed last fall at $5 billion, was expanded fivefold to $25 billion in June. show quote
“We formed the partnership last fall at $5 billion. Nine months later, in June, Brookfield expanded its commitment fivefold to $25 billion.”
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The CFO highlighted structural operating leverage: revenue grew 166% while operating expenses grew just 48%. show quote
“Revenue grew 166%, while operating expenses grew just 48%, and the mechanics behind that should persist. The leverage comes from how we have built our cost structure.”
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The CFO said the demand environment is robust and Bloom is gated by neither capacity nor its supply chain. show quote
“The demand environment is robust, and we are neither gated by capacity nor our supply chain. The operating discipline is real.”
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as of 2026-08-10