BE · Forward model · Electricity — Bloom-owned systems
What has to happen in Electricity — Bloom-owned systems
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Electricity — Bloom-owned systems
Basis quarter$10M
Final quarter$6M
Implied CAGR−9%
Final revenue mix0%
Legacy power sales from systems Bloom owns and operates itself, sold under PPAs. Bloom is not adding to this fleet — it now sells the box or lets a financier own it — so the line is in slow runoff and was 0.9% of revenue in the basis quarter. It is carried because it reconciles the reported total, not because it moves fair value.
Last four quarters
2025 Q3
$10M
Reported
2025 Q4
$10M
Estimated
2026 Q1
$10M
Reported
2026 Q2
$10M
Reported
PPA power sales from Bloom-owned Energy Servers
Sequential growth
−3.0%/qtr
decaying toward −2.0%
Revenue fell from $26.95M in 2025 Q1 to $9.95M in 2026 Q2 as PPAs expire and no owned systems are added.
Electricity — Bloom-owned systems
Latest: $6M (2031Q2E)
| Period | Value |
|---|---|
| 2023Q1 | $20M |
| 2023Q2 | $20M |
| 2023Q3 | $26M |
| 2023Q4 | $16M |
| 2024Q1 | $14M |
| 2024Q2 | $14M |
| 2024Q3 | $14M |
| 2024Q4 | $11M |
| 2025Q1 | $27M |
| 2025Q2 | $13M |
| 2025Q3 | $10M |
| 2025Q4 | $10M |
| 2026Q1 | $10M |
| 2026Q2 | $10M |
| 2026Q3E | $10M |
| 2026Q4E | $9M |
| 2027Q1E | $9M |
| 2027Q2E | $9M |
| 2027Q3E | $9M |
| 2027Q4E | $8M |
| 2028Q1E | $8M |
| 2028Q2E | $8M |
| 2028Q3E | $8M |
| 2028Q4E | $8M |
| 2029Q1E | $7M |
| 2029Q2E | $7M |
| 2029Q3E | $7M |
| 2029Q4E | $7M |
| 2030Q1E | $7M |
| 2030Q2E | $7M |
| 2030Q3E | $6M |
| 2030Q4E | $6M |
| 2031Q1E | $6M |
| 2031Q2E | $6M |
Assumptions & reasoning
- Quarterly revenue is lumpy because it includes periodic true-ups: 2025 Q1 was $26.95M against $12.81M the following quarter. The trend is down; the quarter-to-quarter path is noise.
- This is the only vertical using a growth driver, and the reason is that the underlying owned fleet is never disclosed in megawatts and is not being added to.