Bloom Energy reports record third-quarter revenue and raises 2026 outlook

Bloom Energy reported record third-quarter 2026 revenue of $1.236 billion, up 138.1% from the same quarter a year earlier, and raised its full-year revenue outlook to $4.4 billion–$4.6 billion. The company published the results on October 22 for the quarter ended September 30. It said product revenue reached $1.074 billion, an increase of 179.4% year over year. The reported figures are company results; the higher full-year range is management guidance, not a realized outcome.

On a US GAAP basis, gross profit was $417.1 million and gross margin was 33.8%, compared with $151.7 million and 29.2% in the third quarter of 2025. Operating income rose to $225.4 million from $7.8 million. Net income attributable to common stockholders was $250.3 million, against a $23.1 million loss a year earlier. Diluted GAAP earnings per share were $0.78 versus a loss of $0.10. These measures are distinct from the company’s non-GAAP presentation, which reported a 34.5% gross margin, $285.7 million of operating income and diluted EPS of $0.94 for the quarter.

Product sales represented most of quarterly revenue. Bloom’s detailed statement also lists $84.9 million from installation, $67.6 million from services and $9.8 million from electricity. The company reported total revenue of $1.2358 billion under GAAP and stated that product revenue rose 179.4% year over year. The mix indicates that the quarter’s increase was concentrated in equipment sales; the release does not provide a customer-by-customer breakdown or establish that every product shipment was installed and generating electricity during the quarter.

Bloom sells solid-oxide fuel-cell systems for on-site power to commercial and industrial customers, including data centers and semiconductor manufacturers, according to its company description. Management said demand and year-to-date performance supported raising the annual outlook for the third time during 2026. The new revenue range is $4.4 billion–$4.6 billion, with a midpoint the company said implies 122% year-over-year growth. Bloom also forecast a full-year non-GAAP gross margin of about 34%, non-GAAP operating income of $960 million–$1.03 billion and non-GAAP EPS of $3.10–$3.40. The company cautions that these non-GAAP outlook measures cannot be quantitatively reconciled to corresponding GAAP measures without unreasonable effort because of uncertain items such as stock-based compensation.

The results arrive amid rising interest in on-site generation as electricity-intensive businesses seek dependable power, but the release does not quantify what share of Bloom’s sales went to data centers or identify the drivers of each customer order. Revenue growth and margin expansion are not measures of installed capacity, system utilization or customer savings. The company’s forward-looking statements also identify risks including financing needs, supply constraints, tariffs, manufacturing capacity, installation and utility interconnection delays, and changes in demand for AI data centers. The guidance therefore remains subject to execution and market risks stated by Bloom.