Bloom Energy Q3 FY2026: revenue up 138.1%, guidance raised again
Bloom Energy posted a blowout quarter and raised full-year guidance for the third time this year. Revenue of $1.24 billion grew 138.1% and GAAP EPS of $0.78 beat the $0.70 consensus. The catch is cash: free cash flow was negative $0.18 billion as contract assets and inventory ballooned. Read the income statement and the cash flow statement side by side.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS of $0.78 flipped from a $0.10 loss a year ago and beat the $0.70 consensus by $0.08. Non-GAAP EPS of $0.94 excludes $60.1 million of stock-based compensation, which is real dilution even if it is not cash. Operating margin went from 1.5% to 18.2%, so the beat came from scale, not one-off items.
Revenue of $1.24 billion rose 138.1% from $0.52 billion a year ago, driven by product revenue of $1.07 billion, up 179.4%. The sequential climb inside 2026 has been steep and unbroken: $0.75 billion in Q1, $1.06 billion in Q2, $1.24 billion now. Installation, service and electricity together were only $0.16 billion, so this is a hardware story.
Full-year 2026 revenue guidance moved to $4.4–$4.6 billion, a $4.5 billion midpoint, from $4.05 billion three months ago. Management also set non-GAAP operating income of $0.96–$1.03 billion and non-GAAP EPS of $3.10–$3.40. The CFO flagged this as the third raise this year.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-10-23
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