Fuel cell and electrolyzer manufacturer Bloom Energy reported a record revenue of $1.07 billion in the second quarter (Q2) of 2026, a 165.5% year-over-year (YoY) increase from $401.2 million.

The revenue beat analysts’ expectations by $238.35 million.

Its product revenue surged 215.4% YoY to $935.4 million, up from $296.6 million.

Bloom Energy’s installation revenue increased 36.4% to $51 million, while service revenue rose 26.8% to $69 million. Electricity revenue declined 22.3% to $10 million from $12.8 million.

The company reported a profit after tax (PAT) of $196.29 million, reversing a net loss of $42.62 million in Q2 2025.

Its earnings per share (EPS) rose to $0.78 from $0.10, surpassing analysts’ expectations by $0.37.

The adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) increased more than sixfold to $253.4 million, from $41.2 million in Q2 2025.

1H Results

For the first half (1H) of 2026, revenue rose by 149.8% to $1.82 billion from $727.3 million.

PAT stood at $266.94 million, compared to a net loss of $66.43 million in the corresponding period last year.

KR Sridhar, Founder, Chairman, and Chief Executive Officer of Bloom Energy, said that demand for Bloom Energy’s solutions continues to accelerate as customers who traditionally relied on combustion technologies are now choosing Bloom as a superior power solution.

He added that major U.S. hyperscalers and more than a dozen neoclouds, AI laboratories, and colocation data center operators had validated and approved Bloom’s solutions for their AI facilities.

During the quarter, Industrial Development Funding, which has previously also funded Bloom deployments, partnered with Oaktree, MUFG Bank, and Morgan Stanley to fund Bloom deployments, bringing their cumulative commitment to $2.6 billion.

Following its $5 billion partnership with international investment firm Brookfield last fall, Bloom Energy expanded its commitment fivefold to $25 billion.

Replying to a question on the company’s access to scandium, Sridhar said, “There is enough scandium on the planet that can be recovered economically to power the planet. We have visibility currently based on what we are working for 25 gigawatts of deployments. We are not dependent on China.”

Outlook

Bloom Energy raised its full-year 2026 revenue guidance to between $3.9 – $4.2 billion.

In Q1 of 2026, Bloom Energy reported revenue of $751.1 million, a 130.4% YoY increase from $326 million.