BE
Bloom Energy Corporation
Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for Bloom Energy Corporation.
Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel-cell systems that generate on-site electricity for commercial, industrial, and utility customers. Its Energy Servers convert natural gas, biogas, or hydrogen into electricity with lower emissions than many conventional generators and can be configured for microgrids and combined heat and power. The company also develops solid-oxide electrolyzers for hydrogen production and offers installation, maintenance, and financing.
Coverage
Bloom's Oracle Order Is 1.2, 2.4, 2.45 or 2.8 GW. Its Plant Is Sized for One a Year.
Bloom has put 1.2, 2.4, 2.45 and 2.8 GW on the Oracle relationship. Only 1.2 GW was ever called contracted, and none of the figures is in an SEC filing.
The S&P 500 Adds Bloom Energy at 337x Trailing Earnings. Two Weeks Ago We Wrote 269x.
Bloom Energy joins the S&P 500 on September 21, replacing Molson Coors. At Friday's $252.87 close it trades at 337x trailing GAAP earnings, 3.0x our base case.
Bloom Energy Joins the Site at a Rule of 40 Score of 182, With the Stock 42% Off Its June High
Bloom Energy joins coverage on a $1,065M quarter up 165.5% and a record 181.92 Rule of 40 — with the stock 42% off its June high. That gap is the whole thesis.
SpaceX Uses Megapacks to Tame Its Gigawatt. Bloom Energy Sells the Megawatts Before the Grid Arrives.
Tesla Megapacks stabilize volatile AI loads; Bloom fuel cells generate onsite before the grid arrives. Where each wins, and why data centers will use both.
Where the revenue goes next
Latest: $1.07B (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | $275M |
| 2023Q2 | $301M |
| 2023Q3 | $400M |
| 2023Q4 | $357M |
| 2024Q1 | $235M |
| 2024Q2 | $336M |
| 2024Q3 | $330M |
| 2024Q4 | $572M |
| 2025Q1 | $326M |
| 2025Q2 | $401M |
| 2025Q3 | $519M |
| 2025Q4 | $778M |
| 2026Q1 | $751M |
| 2026Q2 | $1.07B |
Latest: $0.62 (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | −$0.35 |
| 2023Q2 | −$0.32 |
| 2023Q3 | −$0.80 |
| 2023Q4 | $0.02 |
| 2024Q1 | −$0.25 |
| 2024Q2 | −$0.27 |
| 2024Q3 | −$0.06 |
| 2024Q4 | $0.38 |
| 2025Q1 | −$0.10 |
| 2025Q2 | −$0.18 |
| 2025Q3 | −$0.10 |
| 2025Q4 | $0.00 |
| 2026Q1 | $0.23 |
| 2026Q2 | $0.62 |
Latest: 403.6 (2026Q2)
| Period | Value |
|---|---|
| 2023Q4 | n/m |
| 2024Q1 | n/m |
| 2024Q2 | n/m |
| 2024Q3 | n/m |
| 2024Q4 | n/m |
| 2025Q1 | n/m |
| 2025Q2 | 598.0 |
| 2025Q4 | n/m |
| 2026Q1 | n/m |
| 2026Q2 | 403.6 |
Latest: $175M (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | −$341M |
| 2023Q2 | −$66M |
| 2023Q3 | −$155M |
| 2023Q4 | $106M |
| 2024Q1 | −$169M |
| 2024Q2 | −$188M |
| 2024Q3 | −$84M |
| 2024Q4 | $473M |
| 2025Q1 | −$125M |
| 2025Q2 | −$220M |
| 2025Q3 | $7M |
| 2025Q4 | $395M |
| 2026Q1 | $47M |
| 2026Q2 | $175M |
Latest: 295M (2026Q2)
| Period | Value |
|---|---|
| 2018Q3 | 81M |
| 2020Q2 | 126M |
| 2020Q3 | 139M |
| 2021Q1 | 171M |
| 2021Q2 | 173M |
| 2021Q3 | 174M |
| 2022Q1 | 177M |
| 2022Q2 | 179M |
| 2022Q3 | 186M |
| 2023Q1 | 207M |
| 2023Q2 | 209M |
| 2023Q3 | 211M |
| 2023Q4 | 224M |
| 2024Q1 | 226M |
| 2024Q2 | 227M |
| 2024Q3 | 228M |
| 2024Q4 | 229M |
| 2025Q1 | 230M |
| 2025Q2 | 233M |
| 2025Q3 | 235M |
| 2025Q4 | 237M |
| 2026Q1 | 320M |
| 2026Q2 | 295M |
Latest: −$144M (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | −$341M |
| 2023Q2 | −$407M |
| 2023Q3 | −$562M |
| 2023Q4 | −$456M |
| 2024Q1 | −$625M |
| 2024Q2 | −$812M |
| 2024Q3 | −$896M |
| 2024Q4 | −$423M |
| 2025Q1 | −$548M |
| 2025Q2 | −$768M |
| 2025Q3 | −$761M |
| 2025Q4 | −$366M |
| 2026Q1 | −$319M |
| 2026Q2 | −$144M |
Latest earnings
Next report: Oct 27, 2026 (Q3 2026)
Company History
KR Sridhar and colleagues spin a NASA project for generating oxygen on Mars into a company making solid-oxide fuel cells, originally as Ion America.
After nearly a decade in stealth and roughly $400 million of venture funding, Bloom unveils the Energy Server at eBay with Google, Walmart and FedEx as early customers.
Bloom lists on the NYSE at $15 per share on 25 July 2018, raising about $270 million.
Bloom agrees to supply on-site solid-state power for Oracle's AI data centers, issuing Oracle a warrant for 3.53 million shares at $113.28, and closes 2025 with record revenue of $2.02 billion, up 37%.
Q2 2026 revenue reaches $1.065 billion on 215% product revenue growth, gross margin hits 33.4%, and full-year guidance is raised to $3.9-4.2 billion — about double 2025.
Key Players
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By latest reported 13F position value. Market value at quarter-end, not cost basis.
