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Bloom's Q3 revenue surged 138% to $1.24 billion, while operating margin expanded sharply to 23.1%. Product revenue climbed 179% to $1.07 billion as manufacturing scale increasingly translated into substantial operating leverage. Operating cash flow fell to negative $27 million, while free cash flow reached negative $181 million.
Bloom Energy's solid-oxide fuel cells help data centers meet their electricity needs in months. Years-long grid interconnection queues are fueling strong demand for Bloom's fuel cells.
Bloom Energy reported better-than-expected third-quarter results with both sales and profitability beating expectations by a wide margin. In addition, the company raised full-year guidance for a third consecutive quarter. However, deteriorating AI infrastructure sentiment resulted in market participants focusing on perceived flaws like negative free cash flow and near-term margin headwinds.
Bloom Energy's third-quarter revenue grew 138% year over year to $1.24 billion. Management now sees 2026 revenue of $4.4 billion to $4.6 billion, its third raise this year.
Bloom Energy TodayBEBloom Energy$192.52 -25.25 (-11.59%) As of 10/23/2026 03:59 PM Eastern This is a fair market value price provided by Massive. Learn more.52-Week Range$75.70▼$351.28P/E Ratio118.11Price Target$258.36Add to Watchlist Bloom Energy's NYSE: BE Q3 earnings report shows strong growth despite uncertainty surrounding Oracle's NASDAQ: ORCL force majeure notice.
Bloom Energy delivered blockbuster Q3 '26 results, guiding up for Q4 and projecting robust long-term growth in data center power solutions. BE is rapidly expanding capacity, targeting over 5 GW and potentially $20 billion in annual revenue, with major customers like Oracle and Nebius driving demand. Despite recent negative cash flow from inventory and equipment build, the fuel-cell power company maintains a strong $2.5 billion cash balance and positive YTD free cash flow.
Power demand is accelerating, and companies that provide power and power equipment are well-positioned to benefit.
Shares of Bloom Energy have risen more than 150% this year. The company's speed to power is a true competitive advantage.