Bloom Energy (BE)
Bloom Energy (BE) makes solid-oxide fuel-cell systems that generate electricity on site from natural gas, biogas, or hydrogen. In ETFpedia it represents the on-site power option in the AI electricity and nuclear SMR theme: a way for data centers to get firm power in months rather than years, a need that drove revenue up 130% in early 2026.
| Ticker | BE |
|---|---|
| Exchange | NYSE |
| Sector | On-Site Power · Fuel Cells |
| Country | United States |
| Wikidata | Q29526078 |
| Last updated | 2026-06-04 |
Next event:Next earnings · Q2 2026, estimated · Calendar-estimated from prior years; Bloom has not confirmed the date. Last report: Q1 2026 on 2026-04-28. (source)
Latest reported quarter:Q1 2026 (ended Mar 31, 2026) (reported2026-04-28)
Bloom posted record Q1 2026 revenue of $751.1 million, up 130.4% year over year on 208% product-revenue growth, and swung to GAAP net profit to common stockholders of $70.7 million from a $23.8 million loss a year earlier, with diluted EPS of $0.23. The driver is on-site power demand from AI data centers.
| Revenue | $751.1M+130.4%YoY · Record; product revenue up 208% |
|---|---|
| Net profit to common | $70.7M · Vs a $23.8M loss in Q1 2025 |
| GAAP diluted EPS | $0.23 · Vs $(0.10) in Q1 2025 |
| GAAP gross margin | 30.0%+2.8ppYoY |
| Operating income | $72.2M · Vs a $19.1M operating loss in Q1 2025 |
Revenue by segment
| Product | $653.3M · 87.0%of revenue+208.4% YoY |
|---|---|
| Service | $61.9M · 8.2%of revenue |
| Installation | $25.9M · 3.4%of revenue |
| Electricity | $9.9M · 1.3%of revenue |
Guidance:Full-year 2026
| Revenue | $3.4B-$3.8B · Midpoint ~80% YoY growth, raised from ~60% |
|---|---|
| Non-GAAP gross margin | ~34% |
| Non-GAAP operating income | $600M-$750M |
| Non-GAAP EPS | $1.85-$2.25 |
Recent & upcoming events
- · Record Q1 2026 results and raised guidance.Revenue $751.1M (+130%), GAAP net profit to common $70.7M (swing from loss); full-year 2026 revenue guidance raised to $3.4B-$3.8B, roughly 80% growth at the midpoint. (source)
- · Oracle data-center deal expanded to up to 2.8 GW.Bloom and Oracle expanded their partnership so Oracle can procure up to 2.8 gigawatts of Bloom fuel cells for AI data centers, with an initial 1.2 GW deploying across US projects to speed time-to-power ahead of grid interconnection. (source)
Revenue-by-type figures are from the Q1 2026 8-K (Exhibit 99.1); Bloom does not report operating segments. Net profit shown is GAAP net profit to common stockholders ($70.7M); total net income including noncontrolling interests was higher.
Figures are as of 2026-06-04 and reflect the most recent public filings/IR releases; they are updated after each earnings report.
What does Bloom Energy do?
Bloom Energy makes solid-oxide fuel cells, sold as Bloom Energy Servers, that convert natural gas, biogas, or hydrogen into electricity through an electrochemical reaction rather than combustion. Customers install them on site to power data centers, factories, hospitals, and campuses with firm, around-the-clock electricity. The company reports revenue by type rather than by operating segment: in Q1 2026, product revenue was $653.3 million, service $61.9 million, installation $25.9 million, and electricity $9.9 million, for $751.1 million in total (Bloom 8-K, Apr 28, 2026).
Why is Bloom Energy an AI electricity and nuclear SMR company?
The binding constraint for AI data centers in 2026 is not chips, it is power, and specifically how fast you can get it. New grid connections can take years, so on-site generation has become a way to bring power to a site now. Bloom’s fuel cells are modular and quick to deploy, which is why it is the on-site-power option in the theme alongside nuclear generators and grid equipment. The demand is concrete: in April 2026 Bloom expanded its Oracle partnership so Oracle can procure up to 2.8 gigawatts of Bloom fuel cells for AI data centers, with an initial 1.2 GW deploying across US projects (Bloom Energy). That gigawatt-scale order helped lift Q1 product revenue 208% year over year.
“We at Bloom are ushering in the era of digital power for the digital age. Bloom is rapidly becoming the standard and ‘go-to choice’ for on-site power.”
— KR Sridhar, Founder, Chairman and CEO, Bloom Energy, Apr 28, 2026
What did Bloom Energy report most recently?
In Q1 2026 (the quarter ended March 31, 2026), Bloom posted record revenue of $751.1 million, up 130.4% year over year, driven by 208% product-revenue growth (Bloom 8-K, Apr 28, 2026). It swung to GAAP net profit to common stockholders of $70.7 million from a $23.8 million loss a year earlier, with diluted EPS of $0.23 and operating income of $72.2 million versus a $19.1 million operating loss in Q1 2025. GAAP gross margin rose to 30.0%, and Bloom generated $73.6 million of cash from operations, positive in a first quarter for the first time. The profitability is recent, though: for full-year 2025 the company still reported a net loss of about $87.1 million, so the swing reflects the current demand surge rather than a long track record.
What is Bloom Energy’s guidance?
Bloom raised full-year 2026 guidance to revenue of $3.4 billion-$3.8 billion, a midpoint near 80% growth, up from a prior roughly 60%, with non-GAAP gross margin around 34%, non-GAAP operating income of $600 million-$750 million, and non-GAAP EPS of $1.85-$2.25 (Bloom 8-K, Apr 28, 2026). The raise rests heavily on data-center orders converting to deliveries through the year.
What are the risks for Bloom Energy?
- Profitability is new and demand-dependent. Q1 2026 was profitable, but FY2025 was a net loss, and the swing depends on continued AI data-center orders.
- Customer concentration. Large gigawatt-scale deals such as the Oracle agreement concentrate revenue in a few counterparties whose capex plans can change.
- Fuel and emissions. Most Bloom servers run on natural gas, so the on-site-power pitch carries emissions and fuel-cost exposure that a slower AI buildout or policy shift could expose.
- Execution and supply chain. Scaling output to meet gigawatt orders strains manufacturing, supply chains, and working capital.
Related securities, concepts & terms
- AI Electricity & Nuclear SMRsparent
- Plug Power (PLUG)sibling
Related indices & ETFs
- Akros U.S. AI Electricity SMR Index · AkrosThematic index of US-listed AI-electricity and nuclear-SMR names that includes Bloom Energy.
Frequently asked questions about Bloom Energy
What does Bloom Energy do?
Bloom Energy makes solid-oxide fuel-cell systems, called Bloom Energy Servers, that generate electricity on site from natural gas, biogas, or hydrogen, without combustion. Customers use them to power data centers, factories, and campuses with firm electricity that can be installed faster than new grid connections. Product sales drive the business: product revenue was $653.3 million of $751.1 million total in Q1 2026 (Bloom 8-K, Apr 28, 2026).
Why is Bloom Energy part of the AI electricity and nuclear SMR theme?
Data centers need power faster than the grid can deliver it, and grid-interconnection queues now run for years. Bloom's modular fuel cells offer on-site power that can be deployed in months, which is why it is the on-site-generation option in the theme alongside nuclear and grid equipment. The demand is concrete: in April 2026 Bloom expanded its Oracle partnership so Oracle can procure up to 2.8 gigawatts of fuel cells for AI data centers (Bloom Energy).
What was Bloom Energy's latest quarterly revenue?
Bloom reported record Q1 2026 revenue of $751.1 million, up 130.4% year over year, with product revenue up 208% (Bloom 8-K, Apr 28, 2026). It swung to GAAP net profit to common stockholders of $70.7 million from a $23.8 million loss a year earlier, with diluted EPS of $0.23 and operating income of $72.2 million.
Is Bloom Energy profitable?
Bloom turned profitable in Q1 2026, reporting GAAP net profit to common stockholders of $70.7 million versus a $23.8 million loss in Q1 2025 (Bloom 8-K, Apr 28, 2026). For full-year 2025, however, Bloom still posted a net loss of about $87.1 million (SEC Form 10-K), so sustained profitability is recent and tied to the current demand surge.
When does Bloom Energy report its next earnings?
Bloom is expected to report Q2 2026 results in late July 2026. That date is calendar-estimated and unconfirmed, so check Bloom's investor relations page. It last reported Q1 2026 on April 28, 2026 (Bloom 8-K).
Sources & references
- Bloom Energy Reports Record First Quarter 2026 Results and Raises Full Year 2026 Guidance (Form 8-K, Exhibit 99.1) · Bloom Energy Corporation / SEC EDGAR, 2026-04-28
- Bloom Energy and Oracle Expand Strategic Partnership to Deploy up to 2.8 GW to Accelerate AI Infrastructure Build-Out · Bloom Energy Corporation, 2026-04-14
- Bloom Energy Corporation · FY2025 Annual Report (Form 10-K) · Bloom Energy Corporation / SEC EDGAR, 2026-02-17
- Bloom Energy · investor relations events and presentations calendar · Bloom Energy Corporation, 2026-06-04
- Bloom Energy and Oracle Expand Strategic Partnership to Deploy up to 2.8 GW to Accelerate AI Infrastructure Build-Out · Bloom Energy Corporation / Business Wire, 2026-04-14
- Energy demand from AI · Energy and AI · International Energy Agency, 2025-04-10
- NYSE listed company information · BE · New York Stock Exchange, 2026-06-02