10-Q/APeriod: Q2 FY2026

Bloom Energy Corp Quarterly Report (Amendment) for Q2 Ended Jun 30, 2026

Filed July 29, 2026For Securities:BE

Summary

Bloom Energy Corporation reported a strong financial performance for the six months ended June 30, 2026, demonstrating significant revenue growth and a substantial shift from a net loss to a net profit. Total revenue reached $1.816 billion, an increase of approximately 150% compared to the same period in 2025. This growth was driven primarily by a more than threefold increase in product revenue. The company has successfully navigated from a net loss of $65.6 million in the first six months of 2025 to a net income of $272.5 million for the same period in 2026. This turnaround is also reflected in the earnings per share, which moved from a loss of $0.29 per share in the prior year to a positive $0.85 per share. Key to this improvement is the significant increase in gross profit, which grew to $581.1 million from $195.8 million year-over-year, indicating improved operational efficiency and pricing power. Operating expenses also increased, but at a slower pace than revenue, contributing to a positive operating income of $254.4 million compared to an operating loss of $22.6 million in the prior year. The company's balance sheet shows a robust cash position of $2.67 billion, and it generated $300 million in operating cash flow for the first half of 2026, highlighting improved financial health and operational execution.

Key Highlights

  • 1Total revenue for the six months ended June 30, 2026, surged to $1.816 billion, a 150% increase from $727.3 million in the prior year's comparable period, driven primarily by product revenue growth.
  • 2The company achieved profitability, reporting a net income of $272.5 million for the first six months of 2026, a significant turnaround from a net loss of $65.6 million in the same period of 2025.
  • 3Earnings per share (EPS) improved dramatically to $0.85 on a diluted basis for the first six months of 2026, compared to a loss of $0.29 per share in the prior year.
  • 4Gross profit more than doubled, reaching $581.1 million for the first six months of 2026, up from $195.8 million in the prior year, indicating enhanced profitability on sales.
  • 5Operating income turned positive at $254.4 million for the six months ended June 30, 2026, a substantial improvement from an operating loss of $22.6 million in the comparable period of 2025.
  • 6Cash and cash equivalents increased to $2.67 billion as of June 30, 2026, and the company generated strong operating cash flow of $300 million for the six months ended June 30, 2026.
  • 7Significant debt management activities occurred, including the conversion of Green Notes and the redemption of the 3.0% Green Notes due June 2028, alongside a substantial increase in Additional Paid-in Capital.

Frequently Asked Questions

The primary driver for Bloom Energy's substantial revenue growth to $1.816 billion in the first half of 2026 is a significant increase in product revenue, which more than tripled compared to the same period in the prior year. This indicates strong demand for their energy server systems and successful execution of sales strategies.

Bloom Energy has significantly improved profitability by growing its gross profit to $581.1 million in the first six months of 2026, up from $195.8 million in the prior year. This increase in gross profit outpaced the growth in operating expenses, allowing the company to achieve a positive operating income of $254.4 million, a stark contrast to the operating loss reported in the previous year. The company has also benefited from equity in earnings of unconsolidated affiliates, contributing to its overall net income.

Bloom Energy's liquidity position appears strong. As of June 30, 2026, the company held $2.67 billion in cash and cash equivalents. Furthermore, they generated a robust $300 million in cash flow from operating activities during the first six months of 2026, indicating effective cash management and operational efficiency.

Bloom Energy has actively managed its debt structure. Key events include the conversion of approximately $147.0 million aggregate principal amount of Green Notes into shares of common stock during the first half of 2026, leading to a significant increase in Additional Paid-in Capital. Additionally, the company issued a notice of redemption for its remaining outstanding 3.0% Green Notes due June 2028 in July 2026. The company's total debt, both recourse and non-recourse, has seen shifts, with a notable portion now classified as short-term.