Bloom Energy Reports Record Revenue and Raises 2026 Guidance

Shares of Bloom Energy rose over 25% by July 30, 2026, following a delayed market reaction to record second-quarter financial results. The rally was further bolstered by a Mizuho Bank rating upgrade from neutral to outperform with a $242 price target. This surge followed a brief period of volatility on July 28, when shares initially dropped 13.8% due to investor concerns over the scalability of expansion plans.

The company reported revenue of $1.07 billion, a 166% year-on-year increase that surpassed Wall Street estimates of approximately $834 million. Product sales drove this growth, surging 215% to $935.4 million. Bloom Energy returned to profitability with a net income of $196.3 million and non-GAAP profit of $0.78 per share. Consequently, the company raised its full-year 2026 revenue guidance to a range between $3.9 billion and $4.2 billion.

CEO KR Sridhar attributed the performance to accelerating demand from AI labs and hyperscalers seeking on-site power to bypass traditional grid connection delays. To support large-scale deployment, Bloom Energy expanded a strategic financing framework with Brookfield Corporation from $5 billion to $25 billion and grew its partnership with Oracle to deploy 2.8 gigawatts of fuel cells. Sridhar also confirmed the company is not dependent on China for its scandium supply chain.