SAN JOSE, Calif.--(BUSINESS WIRE)--Bloom Energy Corporation (NYSE: BE) (“Bloom,” “Bloom Energy,” “We,” or the “Company”) today reported its financial results for the third quarter ended September 30, 2026.


Third Quarter 2026 Highlights
All comparisons are to the third quarter of 2025.
KR Sridhar, Founder, Chairman and Chief Executive Officer of Bloom Energy, said, “Electricity is the foundation of economic growth, human well-being and national competitiveness. Today, the world is moving from a century-old model of centralized power to a new architecture that includes firm, distributed onsite generation. Bloom is leading that transformation. What began with hyperscalers is rapidly moving across market segments because every business needs reliable power to grow. We are building the electricity platform for the digital era: power where it is needed, when it is needed, clean and always on.”
Simon Edwards, Chief Financial Officer of Bloom Energy, added, “Our third quarter results reflect strong execution across the business, with significant revenue growth and expanded operating margins. We continue to invest with discipline to build the capabilities and capacity needed to scale the business. Our year-to-date performance and customer demand give us confidence to raise our 2026 outlook for the third time this year.”
Summary of Key Financial Metrics
Summary of GAAP Financial Information | ||||||||||||
|
|
|
|
| ||||||||
($000), except EPS data | Q3'26 |
| Q2'26 |
| Q3'25 | |||||||
Revenue | $ | 1,235,837 |
| $ | 1,065,365 |
| $ | 519,048 |
| |||
Cost of Revenue |
| 818,733 |
|
| 709,793 |
|
| 367,373 |
| |||
Gross Profit |
| 417,104 |
|
| 355,572 |
|
| 151,675 |
| |||
Gross Margin |
| 33.8 | % |
| 33.4 | % |
| 29.2 | % | |||
Operating Expenses |
| 191,655 |
|
| 173,335 |
|
| 143,829 |
| |||
Operating Income |
| 225,449 |
|
| 182,237 |
|
| 7,846 |
| |||
Operating Margin |
| 18.2 | % |
| 17.1 | % |
| 1.5 | % | |||
Non-operating (Income) Expenses |
| (24,822 | ) |
| (14,053 | ) |
| 30,939 |
| |||
Net Profit (Loss) to Common Stockholders | $ | 250,271 |
| $ | 196,290 |
| $ | (23,093 | ) | |||
GAAP EPS, Basic | $ | 0.85 |
| $ | 0.68 |
| $ | (0.10 | ) | |||
GAAP EPS, Diluted | $ | 0.78 |
| $ | 0.62 |
| $ | (0.10 | ) | |||
Summary of Non-GAAP Financial Information1 | ||||||||||||
($000), except EPS data | Q3'26 |
| Q2'26 |
| Q3'25 | |||||||
Revenue | $ | 1,235,837 |
| $ | 1,065,365 |
| $ | 519,048 |
| |||
Cost of Revenue |
| 809,621 |
|
| 700,002 |
|
| 361,410 |
| |||
Gross Profit |
| 426,216 |
|
| 365,363 |
|
| 157,637 |
| |||
Gross Margin |
| 34.5 | % |
| 34.3 | % |
| 30.4 | % | |||
Operating Expenses |
| 140,525 |
|
| 125,721 |
|
| 111,389 |
| |||
Operating Income |
| 285,691 |
|
| 239,642 |
|
| 46,249 |
| |||
Operating Margin |
| 23.1 | % |
| 22.5 | % |
| 8.9 | % | |||
Adjusted EBITDA | $ | 299,496 |
| $ | 253,388 |
| $ | 59,049 |
| |||
Non-GAAP EPS, Basic | $ | 1.03 |
| $ | 0.86 |
| $ | 0.15 |
| |||
Non-GAAP EPS, Diluted | $ | 0.94 |
| $ | 0.78 |
| $ | 0.15 |
| |||
1. | A detailed reconciliation of GAAP to Non-GAAP financial measures is provided at the end of this press release |
Guidance
Bloom Energy is increasing its financial guidance for full-year 2026 as follows:
• Revenue: | $4.4B - $4.6B | |
• Non-GAAP Gross Margin: | ~34% | |
• Non-GAAP Operating Income: | $960M - $1,030M | |
• Non-GAAP EPS: | $3.10 - $3.40 |
Investor Conference Call/ Webcast Details
Bloom Energy will host a conference call today, October 22, 2026, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss its financial results. To participate in the live call, analysts and investors may call toll-free dial-in number: +1 833-461-5787 and toll-dial-in-number +1 585 542 9983. The conference ID is 713 024 124. A simultaneous live webcast will also be available under the Investor Relations section on our website at https://investor.bloomenergy.com. Following the webcast, an archived version will be available on Bloom Energy’s website for one year. A telephonic replay of the conference call will be available for one week following the call, by dialing +1 833 309 1852 or +1 929 828 5978 and entering passcode 713 024 124.
Additional Information and Where to Find It
The Investor Relations section of Bloom Energy’s website at investor.bloomenergy.com contains a significant amount of information about Bloom Energy, including financial and other information for investors. Bloom Energy encourages investors to visit this website from time to time, as information is updated and new information is posted. The information contained on, or that may be accessed through Bloom Energy's website is not incorporated by reference into, and is not part of, this press release.
Forward-Looking Statements
This press release contains certain forward-looking statements relating to future events and expectations, including with respect to changes in the architecture to provide electricity to users, movement towards distributed onsite generation, building the electricity platform in an evolving marketplace, source of funding for investments to be made, and projections for our business outlook for the 2026 fiscal year, each of which is based on current expectations, estimates, and projections about our industry, management’s beliefs, and certain assumptions made by management based on information currently available to management at the time they are made. These forward-looking statements are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and relate to the Company’s performance on a going forward basis.
Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual results, performance, and/or trends. In addition to general industry and global economic conditions, factors that could cause actual results, performance, and/or trends to differ materially from those discussed in the forward-looking statements made in this press release include, but are not limited to: (1) the emerging nature of distributed energy generation and rapidly evolving market trends; (2) the significant upfront costs of Bloom Energy’s Energy Servers and Bloom Energy’s ability to secure financing for its products; (3) Bloom Energy’s ability to drive cost reductions and to successfully mitigate against potential price increases; (4) Bloom Energy’s ability to service its existing debt obligations; (5) Bloom Energy’s ability to be successful in new markets; (6) the risk of manufacturing defects; (7) the accuracy of Bloom Energy’s estimates regarding the useful life of its Energy Servers, (8) delays in the development and introduction of new products or updates to existing products; (9) supply constraints; (10) the availability of rebates, tax credits and other tax benefits; (11) the impact of the Inflation Reduction Act of 2022 and the One Big Beautiful Bill Act; (12) changes in the regulatory landscape; (13) Bloom Energy’s lengthy sales and installation cycle, construction, utility interconnection and other delays related to the installation of its Energy Servers; (14) evolution of Bloom’s approach to installation to a consult only model particularly for large load sites; (15) business and economic conditions and growth trends in commercial and industrial energy markets; (16) trade policies including tariffs; (17) the overall electricity generation market; (18) our ability to increase production capacity for our products in a timely and cost-effective manner; (19) any actual or perceived slowdown in the adoption of AI resulting in a slower expansion of AI data centers; (20) the availability of financing for data center developments, (21) air permitting delays which affect the ability to finance the use of Energy Servers for customers, (22) Bloom Energy’s ability to protect its intellectual property; (23) the ability of current product and service backlog to ultimately be recognizable as revenue; (24) commodity price volatility; (25) inflationary pressures and/or (26) the risks relating to forward-looking statements and other “Risk Factors” identified from time to time in our filings with the Securities and Exchange Commission (the “SEC”), including our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and subsequently filed reports, including on Form 10-Q, which filings are available from the SEC. Bloom Energy assumes no obligation to, and does not currently intend to, update information contained in these forward-looking statements, whether as a result of new information, future events or developments, or otherwise.
Use of Non-GAAP Financial Measures
This press release includes certain non-GAAP financial measures as defined in the SEC rules. These non-GAAP financial measures are in addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with U.S. GAAP. Some numbers may not foot due to rounding. There are a number of limitations related to the use of these non-GAAP financial measures versus their nearest GAAP equivalents. For example, other companies may calculate non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. As required by Regulation G, we have provided reconciliations of our non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures set forth in this press release. Bloom Energy urges you to review the reconciliations of its non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures set forth in this press release, and not to rely on any single financial measure to evaluate our business. With respect to Bloom Energy’s expectations regarding its 2026 outlook, Bloom Energy is not able to provide a quantitative reconciliation of non-GAAP gross margin, non-GAAP operating income, and non-GAAP EPS measures to the corresponding GAAP measures without unreasonable efforts due to the uncertainty regarding, and the potential variability of, reconciling items such as stock-based compensation expense. The variability of these items could significantly impact our future U.S. GAAP financial results and we believe that any reconciliation provided would imply a degree of precision that could be confusing or misleading to investors.
About Bloom Energy
Bloom Energy empowers enterprises to meet soaring energy demands and responsibly take charge of their power needs. The company’s solid oxide fuel cell systems provide ultra-resilient, highly scalable onsite electricity for Fortune 500 customers around the world, including data centers, semiconductor manufacturing, large utilities, and other commercial and industrial sectors as well as mission-critical organizations in local communities, such as hospitals, college campuses and retailers. Headquartered in Silicon Valley, Bloom Energy employs more than 2,000 people worldwide and manufactures its systems in the United States. For more information, visit BloomEnergy.com.
Condensed Consolidated Balance Sheets* | ||||||||
(in thousands, except share data) | ||||||||
|
|
|
|
| ||||
|
| September 30, |
| December 31, | ||||
|
| 2026 |
| 2025 | ||||
Assets |
|
|
|
| ||||
Current assets: |
|
|
|
| ||||
Cash and cash equivalents1 |
| $ | 2,486,702 |
|
| $ | 2,454,108 |
|
Restricted cash |
|
| 852 |
|
|
| 1,973 |
|
Accounts receivable, less allowance for credit losses of $2,998 and $460 as of September 30, 2026 and December 31, 2025, respectively1 |
|
| 634,743 |
|
|
| 371,796 |
|
Contract assets |
|
| 792,833 |
|
|
| 178,928 |
|
Inventories1 |
|
| 927,670 |
|
|
| 643,306 |
|
Deferred cost of revenue |
|
| 95,743 |
|
|
| 30,651 |
|
Customer consideration asset |
|
| 90,967 |
|
|
| — |
|
Prepaid expenses and other current assets1 |
|
| 178,244 |
|
|
| 49,805 |
|
Total current assets |
|
| 5,207,754 |
|
|
| 3,730,567 |
|
Property, plant and equipment, net1 |
|
| 539,726 |
|
|
| 398,507 |
|
Investments in unconsolidated affiliates |
|
| 28,236 |
|
|
| 10,037 |
|
Operating lease right-of-use assets1 |
|
| 99,947 |
|
|
| 108,541 |
|
Restricted cash |
|
| 20,592 |
|
|
| 25,499 |
|
Contract assets |
|
| 65,813 |
|
|
| 62,258 |
|
Deferred cost of revenue |
|
| 21,867 |
|
|
| 4,099 |
|
Customer consideration asset |
|
| 215,533 |
|
|
| — |
|
Other long-term assets1 |
|
| 372,115 |
|
|
| 57,203 |
|
Total assets |
| $ | 6,571,583 |
|
| $ | 4,396,711 |
|
Liabilities and stockholders’ equity |
|
|
|
| ||||
Current liabilities: |
|
|
|
| ||||
Accounts payable1 |
| $ | 493,033 |
|
| $ | 203,129 |
|
Accrued warranty |
|
| 70,267 |
|
|
| 20,013 |
|
Accrued expenses and other current liabilities1 |
|
| 479,782 |
|
|
| 222,254 |
|
Deferred revenue and customer deposits |
|
| 278,985 |
|
|
| 100,975 |
|
Operating lease liabilities1 |
|
| 24,022 |
|
|
| 22,000 |
|
Financing obligations |
|
| 42,783 |
|
|
| 51,308 |
|
Non-recourse debt1 |
|
| 2,950 |
|
|
| 4,153 |
|
Total current liabilities |
|
| 1,391,822 |
|
|
| 623,832 |
|
Deferred revenue and customer deposits |
|
| 475,395 |
|
|
| 42,840 |
|
Operating lease liabilities1 |
|
| 96,509 |
|
|
| 106,935 |
|
Financing obligations |
|
| 142,212 |
|
|
| 192,460 |
|
Recourse debt |
|
| 2,473,499 |
|
|
| 2,613,726 |
|
Deferred profit in transactions with unconsolidated affiliates |
|
| 20,062 |
|
|
| 13,928 |
|
Other long-term liabilities |
|
| 8,974 |
|
|
| 10,027 |
|
Total liabilities |
| $ | 4,608,473 |
|
| $ | 3,603,748 |
|
Commitments and contingencies |
|
|
|
| ||||
Stockholders’ equity: |
|
|
|
| ||||
Common stock: 0.0001 par value; 600,000,000 shares authorized, and 295,537,217 shares and 280,045,459 shares issued and outstanding, at September 30, 2026 and December 31, 2025, respectively2 |
|
| 30 |
|
|
| 28 |
|
Additional paid-in capital |
|
| 5,403,998 |
|
|
| 4,755,965 |
|
Accumulated other comprehensive loss |
|
| (457 | ) |
|
| (369 | ) |
Accumulated deficit |
|
| (3,470,694 | ) |
|
| (3,986,983 | ) |
Total stockholders’ equity attributable to common stockholders |
|
| 1,932,877 |
|
|
| 768,641 |
|
Noncontrolling interest |
|
| 30,233 |
|
|
| 24,322 |
|
Total stockholders’ equity |
| $ | 1,963,110 |
|
| $ | 792,963 |
|
Total liabilities and stockholders’ equity |
| $ | 6,571,583 |
|
| $ | 4,396,711 |
|
1 | We have a variable interest entity related to a joint venture in the Republic of Korea, which represents a portion of the consolidated balances recorded within these financial statement line items. | |
2 | On May 27, 2026, the Company filed with the Delaware Secretary of State a Certificate of Second Amendment to its Restated Certificate of Incorporation which (among other things) renamed its Class A common stock as common stock and eliminated outdated references to Class B common stock. Prior to such amendment, the Company had 470,092,742 shares of Class B common stock authorized, but as of December 31, 2025, no such shares were issued or outstanding. | |
Condensed Consolidated Statements of Operations* | ||||||||||||
(in thousands, except per share data) | ||||||||||||
|
|
|
|
|
|
| ||||||
|
|
Three Months
|
|
Three Months
|
|
Three Months
| ||||||
|
|
|
|
|
| |||||||
Revenue: |
|
|
|
|
| |||||||
Product | $ | 1,073,610 |
|
| $ | 935,413 |
|
| $ | 384,314 |
| |
Installation |
| 84,855 |
|
|
| 50,978 |
|
|
| 65,773 |
| |
Service |
| 67,557 |
|
|
| 69,023 |
|
|
| 58,607 |
| |
Electricity |
| 9,815 |
|
|
| 9,951 |
|
|
| 10,354 |
| |
Total revenue |
| 1,235,837 |
|
|
| 1,065,365 |
|
|
| 519,048 |
| |
Cost of revenue: |
|
|
|
|
| |||||||
Product |
| 666,978 |
|
|
| 593,957 |
|
|
| 249,794 |
| |
Installation |
| 88,954 |
|
|
| 52,829 |
|
|
| 59,921 |
| |
Service |
| 55,508 |
|
|
| 56,148 |
|
|
| 51,834 |
| |
Electricity |
| 7,293 |
|
|
| 6,859 |
|
|
| 5,824 |
| |
Total cost of revenue |
| 818,733 |
|
|
| 709,793 |
|
|
| 367,373 |
| |
Gross profit |
| 417,104 |
|
|
| 355,572 |
|
|
| 151,675 |
| |
Operating expenses: |
|
|
|
|
| |||||||
Research and development |
| 64,146 |
|
|
| 58,873 |
|
|
| 48,724 |
| |
Sales and marketing |
| 52,409 |
|
|
| 43,045 |
|
|
| 41,995 |
| |
General and administrative |
| 75,100 |
|
|
| 71,417 |
|
|
| 53,110 |
| |
Total operating expenses |
| 191,655 |
|
|
| 173,335 |
|
|
| 143,829 |
| |
Income from operations |
| 225,449 |
|
|
| 182,237 |
|
|
| 7,846 |
| |
Interest income |
| 22,129 |
|
|
| 20,881 |
|
|
| 5,292 |
| |
Interest expense |
| (7,525 | ) |
|
| (8,906 | ) |
|
| (14,390 | ) | |
Equity in (loss) earnings of unconsolidated affiliates |
| (2,897 | ) |
|
| 4,346 |
|
|
| (19,599 | ) | |
Other income (expense), net |
| 12,627 |
|
|
| 2,307 |
|
|
| (1,362 | ) | |
Gain (loss) on revaluation of embedded derivatives |
| 10 |
|
|
| (539 | ) |
|
| (411 | ) | |
Profit (loss) before income taxes |
| 249,793 |
|
|
| 200,326 |
|
|
| (22,624 | ) | |
Income tax provision |
| 817 |
|
|
| 1,470 |
|
|
| 336 |
| |
Net profit (loss) |
| 248,976 |
|
|
| 198,856 |
|
|
| (22,960 | ) | |
Less: Net (loss) income attributable to noncontrolling interest |
| (1,295 | ) |
|
| 2,566 |
|
|
| 133 |
| |
Net income (loss) attributable to common stockholders | $ | 250,271 |
|
| $ | 196,290 |
|
| $ | (23,093 | ) | |
Net earnings (loss) per share available to common stockholders: |
|
|
|
|
| |||||||
Basic | $ | 0.85 |
|
| $ | 0.68 |
|
| $ | (0.10 | ) | |
Diluted | $ | 0.78 |
|
| $ | 0.62 |
|
| $ | (0.10 | ) | |
Weighted average shares used to compute net earnings (loss) per share available to common stockholders: |
|
|
|
|
| |||||||
Basic |
| 294,757 |
|
|
| 287,288 |
|
|
| 234,931 |
| |
Diluted |
| 324,289 |
|
|
| 323,331 |
|
|
| 234,931 |
| |
Condensed Consolidated Statement of Cash Flows* | ||||||||||||
(in thousands) | ||||||||||||
|
|
|
|
|
|
| ||||||
|
|
Three Months
|
|
Three Months
|
|
Three Months
| ||||||
Cash flows from operating activities: |
|
|
|
|
| |||||||
Net income (loss) | $ | 248,976 |
|
| $ | 198,856 |
|
| $ | (22,960 | ) | |
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities: |
|
|
|
|
| |||||||
Depreciation and amortization |
| 13,805 |
|
|
| 13,746 |
|
|
| 12,800 |
| |
Non-cash lease expense |
| 9,862 |
|
|
| 8,024 |
|
|
| 8,057 |
| |
Equity in loss (earnings) of unconsolidated affiliates, net of distributions |
| 2,897 |
|
|
| (4,346 | ) |
|
| 19,599 |
| |
Stock-based compensation expense |
| 57,209 |
|
|
| 52,217 |
|
|
| 37,255 |
| |
Amortization of debt issuance costs |
| 3,180 |
|
|
| 3,372 |
|
|
| 1,814 |
| |
Net gain on failed sale-and-leaseback transactions |
| (9,400 | ) |
|
| (4,122 | ) |
|
| — |
| |
Share-based consideration payable to customer’s customer |
| (520 | ) |
|
| 5,012 |
|
|
| — |
| |
Allowance for credit losses |
| — |
|
|
| 3,080 |
|
|
| 340 |
| |
Inventory reserve and assets impairment |
| 3,143 |
|
|
| — |
|
|
| 21,846 |
| |
Unrealized foreign currency exchange (gain) loss |
| (1,083 | ) |
|
| (353 | ) |
|
| 2,703 |
| |
Other12 |
| 792 |
|
|
| 869 |
|
|
| 407 |
| |
Changes in operating assets and liabilities: |
|
|
|
|
| |||||||
Accounts receivable |
| (175,235 | ) |
|
| (101,372 | ) |
|
| 54,223 |
| |
Contract assets |
| (430,348 | ) |
|
| (122,964 | ) |
|
| (129,086 | ) | |
Inventories |
| (170,401 | ) |
|
| (26,473 | ) |
|
| (36,562 | ) | |
Deferred cost of revenue |
| (42,651 | ) |
|
| (47,168 | ) |
|
| 4,310 |
| |
Prepaid expenses and other current assets |
| 3,894 |
|
|
| (78,178 | ) |
|
| (4,673 | ) | |
Other long-term assets |
| (178,028 | ) |
|
| (70,647 | ) |
|
| 902 |
| |
Operating lease right-of-use assets and operating lease liabilities |
| (8,628 | ) |
|
| (8,545 | ) |
|
| (8,481 | ) | |
Financing lease liabilities |
| 214 |
|
|
| 166 |
|
|
| 206 |
| |
Accounts payable |
| 184,664 |
|
|
| 63,460 |
|
|
| 23,385 |
| |
Accrued warranty |
| (7,530 | ) |
|
| 39,432 |
|
|
| 2,689 |
| |
Accrued expenses and other current liabilities |
| 158,758 |
|
|
| 90,758 |
|
|
| 50,309 |
| |
Deferred revenue and customer deposits |
| 309,333 |
|
|
| 211,693 |
|
|
| (19,293 | ) | |
Deferred profit with equity method investees and other long-term liabilities |
| (50 | ) |
|
| (85 | ) |
|
| (121 | ) | |
Net cash (used in) provided by operating activities |
| (27,147 | ) |
|
| 226,432 |
|
|
| 19,669 |
| |
Cash flows from investing activities: |
|
|
|
|
| |||||||
Purchase of property, plant and equipment |
| (153,487 | ) |
|
| (51,641 | ) |
|
| (12,301 | ) | |
Proceeds from sale of property, plant and equipment |
| 60 |
|
|
| 36 |
|
|
| — |
| |
Investments in unconsolidated affiliates |
| (3,781 | ) |
|
| (2,948 | ) |
|
| (24,570 | ) | |
Net cash used in investing activities |
| (157,208 | ) |
|
| (54,553 | ) |
|
| (36,871 | ) | |
Cash flows from financing activities: |
|
|
|
|
| |||||||
Repayment of debt |
| — |
|
|
| (1,347 | ) |
|
| — |
| |
Repayment of financing obligations |
| (5,379 | ) |
|
| (3,844 | ) |
|
| (2,939 | ) | |
Proceeds from issuance of common stock |
| 10,782 |
|
|
| 7,324 |
|
|
| 42,354 |
| |
Dividend paid |
| — |
|
|
| (925 | ) |
|
| — |
| |
Other |
| (37 | ) |
|
| 18 |
|
|
| — |
| |
Net cash provided by financing activities |
| 5,366 |
|
|
| 1,226 |
|
|
| 39,415 |
| |
Effect of exchange rate changes on cash, cash equivalents, and restricted cash |
| (1,373 | ) |
|
| (2,881 | ) |
|
| (1,245 | ) | |
Net (decrease) increase in cash, cash equivalents, and restricted cash |
| (180,362 | ) |
|
| 170,224 |
|
|
| 20,968 |
| |
Cash, cash equivalents, and restricted cash: |
|
|
|
|
| |||||||
Beginning of period |
| 2,688,508 |
|
|
| 2,518,284 |
|
|
| 606,047 |
| |
End of period | $ | 2,508,146 |
|
| $ | 2,688,508 |
|
| $ | 627,015 |
| |
| ____________________ | ||
* | These preliminary results are not a comprehensive statement of the Company’s financial results and should not be viewed as a substitute for full financial statements prepared in accordance with GAAP. | |
Reconciliation of GAAP to Non-GAAP Financial Measures | ||||||||||||
(unaudited) | ||||||||||||
(in thousands, except percentages) | ||||||||||||
|
|
|
|
|
|
| ||||||
|
| Q3'26 |
| Q2'26 |
| Q3'25 | ||||||
GAAP revenue | $ | 1,235,837 |
| $ | 1,065,365 |
| $ | 519,048 |
| |||
GAAP cost of revenue |
| 818,733 |
|
| 709,793 |
|
| 367,373 |
| |||
GAAP gross profit |
| 417,104 |
|
| 355,572 |
|
| 151,675 |
| |||
Non-GAAP adjustments: |
|
|
| |||||||||
Stock-based compensation expense |
| 9,048 |
|
| 9,675 |
|
| 5,719 |
| |||
Restructuring |
| — |
|
| — |
|
| 31 |
| |||
Other |
| 64 |
|
| 116 |
|
| 213 |
| |||
Non-GAAP gross profit | $ | 426,216 |
| $ | 365,363 |
| $ | 157,637 |
| |||
GAAP gross margin % |
| 33.8 | % |
| 33.4 | % |
| 29.2 | % | |||
Non-GAAP adjustments |
| 0.7 | % |
| 0.9 | % |
| 1.1 | % | |||
Non-GAAP gross margin % |
| 34.5 | % |
| 34.3 | % |
| 30.4 | % | |||
| Q3'26 |
| Q2'26 |
| Q3'25 | |||||||
GAAP operating income | $ | 225,449 |
| $ | 182,237 |
| $ | 7,846 |
| |||
Non-GAAP adjustments: |
|
|
| |||||||||
Stock-based compensation expense |
| 60,109 |
|
| 56,402 |
|
| 38,153 |
| |||
Restructuring |
| 34 |
|
| 848 |
|
| — |
| |||
Other |
| 101 |
|
| 153 |
|
| 250 |
| |||
Non-GAAP operating income | $ | 285,691 |
| $ | 239,642 |
| $ | 46,249 |
| |||
GAAP operating margin % |
| 18.2 | % |
| 17.1 | % |
| 1.5 | % | |||
Non-GAAP adjustments |
| 4.9 | % |
| 5.4 | % |
| 7.4 | % | |||
Non-GAAP operating margin % |
| 23.1 | % |
| 22.5 | % |
| 8.9 | % | |||
Reconciliation of GAAP Net Income (Loss) to non-GAAP Net Profit and Computation of non-GAAP Net Earnings per Share (EPS) | ||||||||||||
(unaudited) | ||||||||||||
(in thousands, except share data) | ||||||||||||
|
|
|
|
|
|
| ||||||
|
| Q3'26 |
| Q2'26 |
| Q3'25 | ||||||
Net Income (loss) to Common Stockholders | $ | 250,271 |
| $ | 196,290 |
| $ | (23,093 | ) | |||
Non-GAAP adjustments: |
|
|
| |||||||||
Add back: Net (loss) income attributable to noncontrolling interest |
| (1,295 | ) |
| 2,566 |
|
| 133 |
| |||
Stock-based compensation expense |
| 60,109 |
|
| 56,402 |
|
| 38,153 |
| |||
Equity in loss (earnings) of unconsolidated affiliates |
| 2,897 |
|
| (4,346 | ) |
| 19,599 |
| |||
Effect of Assets Buyout and Repowering |
| (9,279 | ) |
| (4,243 | ) |
| — |
| |||
Restructuring |
| 34 |
|
| 848 |
|
| — |
| |||
(Gain) loss on derivative liabilities |
| (10 | ) |
| 539 |
|
| 411 |
| |||
Other |
| 101 |
|
| 153 |
|
| 250 |
| |||
Adjusted Net Profit | $ | 302,828 |
| $ | 248,209 |
| $ | 35,453 |
| |||
|
|
|
| |||||||||
Adjusted net earnings per share (EPS), Basic | $ | 1.03 |
| $ | 0.86 |
| $ | 0.15 |
| |||
Adjusted net earnings per share (EPS), Diluted | $ | 0.94 |
| $ | 0.78 |
| $ | 0.15 |
| |||
Weighted average shares outstanding attributable to common stockholders, Basic |
| 294,757 |
|
| 287,288 |
|
| 234,931 |
| |||
Weighted-average shares outstanding attributable to common stockholders, Diluted |
| 324,289 |
|
| 323,331 |
|
| 312,479 |
| |||
Reconciliation of GAAP Net Income (Loss) to Adjusted EBITDA | ||||||||||||
(unaudited) | ||||||||||||
(in thousands) | ||||||||||||
|
|
|
|
|
|
| ||||||
|
| Q3'26 |
| Q2'26 |
| Q3'25 | ||||||
Net Income (loss) to Common Stockholders | $ | 250,271 |
| $ | 196,290 |
| $ | (23,093 | ) | |||
Add back: Net (loss) income attributable to noncontrolling interest |
| (1,295 | ) |
| 2,566 |
|
| 133 |
| |||
Stock-based compensation expense |
| 60,109 |
|
| 56,402 |
|
| 38,153 |
| |||
Equity in loss (earnings) of unconsolidated affiliates |
| 2,897 |
|
| (4,346 | ) |
| 19,599 |
| |||
Effect of Assets Buyout and Repowering |
| (9,279 | ) |
| (4,243 | ) |
| — |
| |||
Restructuring |
| 34 |
|
| 848 |
|
| — |
| |||
(Gain) loss on derivative liabilities |
| (10 | ) |
| 539 |
|
| 411 |
| |||
Other |
| 101 |
|
| 153 |
|
| 250 |
| |||
Adjusted Net Profit |
| 302,828 |
|
| 248,209 |
|
| 35,453 |
| |||
|
|
|
| |||||||||
Depreciation & amortization |
| 13,805 |
|
| 13,746 |
|
| 12,800 |
| |||
Income tax provision |
| 817 |
|
| 1,470 |
|
| 336 |
| |||
Interest expense, Other (income) expense, net |
| (17,952 | ) |
| (10,039 | ) |
| 10,460 |
| |||
Adjusted EBITDA | $ | 299,496 |
| $ | 253,388 |
| $ | 59,049 |
| |||
Reconciliation of GAAP to non-GAAP Gross Profit (Loss) and Margin | ||||||||||||||||||||||||||
(unaudited) | ||||||||||||||||||||||||||
(in thousands, except percentages) | ||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
|
|
|
|
|
|
| Q3'26 |
|
|
|
|
|
| ||||||||||||
|
| Revenue |
| GAAP gross profit (loss) |
| Stock-based compensation expense |
| Other Non-GAAP adj. |
| Non-GAAP gross profit (loss) |
| GAAP Gross Margin |
| Non-GAAP gross margin % | ||||||||||||
Product | $ | 1,073,610 |
| $ | 406,632 |
| $ | 5,579 |
| $ | 2 |
| $ | 412,213 |
| 37.9 | % | 38.4 | % | |||||||
Install |
| 84,855 |
|
| (4,099 | ) |
| 1,095 |
|
| — |
|
| (3,004 | ) | (4.8 | )% | (3.5 | )% | |||||||
Service |
| 67,557 |
|
| 12,049 |
|
| 2,374 |
|
| 63 |
|
| 14,486 |
| 17.8 | % | 21.4 | % | |||||||
Electricity |
| 9,815 |
|
| 2,522 |
|
| — |
|
| — |
|
| 2,522 |
| 25.7 | % | 25.7 | % | |||||||
Total | $ | 1,235,837 |
| $ | 417,104 |
| $ | 9,048 |
| $ | 64 |
| $ | 426,216 |
| 33.8 | % | 34.5 | % | |||||||
Investor Relations:
Michael Tierney
Bloom Energy
investor@bloomenergy.com
Media:
Katja Gagen
Bloom Energy
press@bloomenergy.com
| 52 min | |
| 2 hours | |
| 2 hours | |
| 2 hours | |
| 2 hours | |
| 2 hours | |
| 4 hours | |
| 13 hours | |
| 13 hours | |
| 15 hours | |
| 18 hours | |
| Oct-21 | |
| Oct-21 | |
| Oct-21 | |
| Oct-21 |
Join thousands of traders who make more informed decisions with our premium features. Real-time quotes, advanced visualizations, alerts, and much more.
Learn more about Finviz Elite