Bloom Energy Q1 2026 Results: Revenue up 130% – Full-Year Forecast Raised – Stock Hits New All-Time High

San Jose (USA) – Bloom Energy has made a strong start to the 2026 fiscal year. Revenue and operating income at the US fuel cell company improved significantly. The company is benefiting from rising demand for decentralized energy solutions, particularly from energy-intensive sectors such as AI infrastructure and data centers, which is also supporting further growth in its fuel cell technology business.

Bloom Energy recently announced that its existing partnership with Oracle in the field of AI data centers will be significantly expanded. Under a master agreement, Oracle plans to deploy up to 2.8 gigawatts (GW) of fuel cell capacity. As electricity becomes a limiting factor for AI growth, the strategic landscape for new technologies is shifting. While fossil fuels are becoming more expensive and nuclear solutions still require time, fuel cells already provide the decisive resource today: immediately available power. This development is also reflected in Bloom Energy’s quarterly results.

Quarterly results beat analyst expectations

Bloom Energy generated revenue of USD 751.1 million in Q1 2026 (Q1 2025: USD 326.0 million), representing an increase of 130.4% year over year. Growth was primarily driven by product revenue, which rose 208.4% to USD 653.3 million (Q1 2025: USD 211.9 million). This was due to increased demand for the company’s on-site power systems, particularly from data centers and industrial customers.

Profitability metrics also developed positively. GAAP gross margin stood at 30.0% (Q1 2025: 27.2%), while non-GAAP gross margin reached 31.5% (Q1 2025: 28.7%). The service segment saw a particularly strong increase, with GAAP margin rising to 13.3% from 1.3% in the prior-year quarter (non-GAAP: 18.0%/4.8%).

Operating income increased to USD 72.2 million under GAAP, reversing a loss of USD 19.1 million in Q1 2025. On a non-GAAP basis, operating income reached USD 129.7 million (Q1 2025: USD 13.2 million). In Q1 2026, Bloom Energy generated operating cash flow of USD 73.6 million (Q1 2025: -USD 110.7 million). Adjusted EBITDA rose to USD 143 million (Q1 2025: USD 25.2 million). On a non-GAAP basis, diluted earnings per share came in at USD 0.44, compared to USD 0.03 in Q1 2025. The company therefore significantly exceeded analyst expectations, which had forecast an average EBITDA of USD 53 million and earnings per share of USD 0.08.

Bloom Energy raises full-year 2026 guidance significantly

Based on the strong business performance, Bloom Energy raised its full-year 2026 outlook. Revenue growth is now expected at around 80% on average, compared to previously around 60%. For the full year, the company expects revenue between USD 3.4 billion and USD 3.8 billion, non-GAAP operating income of USD 600 to 750 million, and a gross margin of around 34%. Non-GAAP earnings per share are expected to be between USD 1.85 and USD 2.25.

Founder and CEO KR Sridhar said: “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.” CFO Simon Edwards added: “Bloom is a generational company with differentiated technology, a compelling strategy, and a mission-driven team focused on disciplined execution. I’m excited help scale the business and support Bloom's next phase of growth.”

New All-Time High: Bloom Energy Stock Drives RENIXX to New Annual High

The Bloom Energy stock, listed in the renewable energy stock index RENIXX World, is surging today and has reached a new year-to-date high of EUR 232.00. The stock is currently up 20.8% at EUR 231.50. Since the beginning of the year, this represents a gain of more than 200%.

Source: IWR Online, 29 Apr 2026