Bloom Energy (BE) investor relations material

Executive summary

• Achieved record Q2 2026 revenue of $1.065 billion, up 166% year-over-year, driven by 215% product revenue growth and strong demand from AI data centers, hyperscalers, and commercial/industrial customers.

• Net income attributable to common stockholders was $196.3 million, reversing a prior year loss.

• Gross margin improved to 33.4% (non-GAAP: 34.3%), up 604–668 basis points year-over-year, reflecting higher product sales and manufacturing efficiencies.

• Strategic partnerships, including Brookfield and Oracle, expanded financing and market reach.

• Company is positioned as the standard for on-site power in AI data centers and other verticals.

Financial highlights

• Q2 2026 revenue reached $1.065 billion, up 166% year-over-year and 42% sequentially.

• Product revenue was $935.4 million, up 215% year-over-year, nearly 90% of total revenue.

• Gross profit for Q2 2026 was $355.6 million; gross margin: 33.4% (non-GAAP: 34.3%).

• Operating income was $182.2 million (non-GAAP: $239.6 million); operating margin: 17.1% (non-GAAP: 22.5%).

• Cash and cash equivalents stood at $2.67 billion at June 30, 2026; cash flow from operations was $226 million.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $3.9–$4.2 billion, representing 100% year-over-year growth at midpoint.

• Non-GAAP gross margin expected at ~34%; non-GAAP operating income $800–$900 million; non-GAAP EPS $2.55–$2.85.

• Guidance based on backlog conversion, in-year bookings, and reserved capacity for time-to-power customers.

• Management expects sufficient liquidity for at least the next 12 months, supported by strong cash flow and a $600 million undrawn revolving credit facility.

• Ongoing investments in manufacturing capacity and R&D to support future growth.