Fuel cell and electrolyzer manufacturer Bloom Energy reported record revenue of $1.24 billion in the third quarter (Q3) of 2026, up 138.1% year-over-year (YoY) from $519.05 million, driven by growing demand for onsite power generation.

The company reported net income attributable to common stockholders of $250.27 million, compared with a net loss of $23.09 million in the corresponding quarter last year. GAAP diluted earnings per share stood at $0.78, compared with a loss of $0.10.

Product revenue increased 179.4% YoY to $1.07 billion from $384.31 million. Gross margin improved to 33.8% from 29.2%, while adjusted EBITDA rose to $299.5 million from $59.05 million.

Full-Year Guidance

Bloom Energy raised its full-year 2026 revenue guidance to $4.4 billion-$4.6 billion, reflecting continued demand for its distributed onsite power systems, particularly from data centers and other electricity-intensive industries.

Non-GAAP diluted EPS is expected to be between $3.10 and $3.40.

Simon Edwards, Bloom Energy’s Chief Financial Officer, said the company continues to invest in expanding its capabilities and production capacity while maintaining financial discipline.

Bloom Energy will focus on expanding its distributed onsite power generation business to meet growing electricity demand across industries.

K R Sridhar, CEO, said that the demand for reliable onsite power solutions, initially driven by hyperscale data center operators, is expanding across other market segments.

There is significant interest from all hyperscale customers, he said. He forecast that customers will soon buy carbon-capture-ready systems so they can accommodate once a CO2 pipeline and sequestration well are available.

He said a 10% to 15% cost premium is a reasonable level most hyperscalers would accept for zero-carbon power, and Bloom can deliver within that range making it the most affordable and technologically ready CCS platform.

Sridhar said a gigawatt data center will save over $5 billion by adopting 800-volt DC instead of the current archaic, industrial-age power-delivery architecture.

The company supplies solid oxide fuel cell systems to data centers, semiconductor manufacturers, utilities, and commercial and industrial consumers.

In Q2 of 2026, Bloom Energy reported a record revenue of $1.07 billion, a 165.5% YoY increase from $401.2 million.