Bloom Energy reports $250.3 million profit as revenue rises 138%
The fuel-cell supplier raised its 2026 revenue forecast to $4.4 billion–$4.6 billion as data centers seek power without years-long grid waits.
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The fuel-cell supplier raised its 2026 revenue forecast to $4.4 billion–$4.6 billion as data centers seek power without years-long grid waits.
Bloom Energy returned to profit in the third quarter and raised its annual revenue forecast. The results come as data-center operators turn to fuel cells for electricity while facing lengthy waits to connect to the US power grid.
| Measure | Reported result | Year-earlier comparison |
|---|---|---|
| Revenue | $1.24 billion | Up 138% |
| Net profit or loss | $250.3 million profit | $23.1 million loss |
Bloom raised its 2026 revenue forecast to $4.4 billion–$4.6 billion. That range is the company’s expectation for the year, not revenue it has already earned.
Data centers need reliable electricity around the clock to run computing equipment and cooling systems. Energy research firm Rystad Energy estimates that connecting large electricity loads to the US grid can take three to six years, prompting developers to explore power generation at their own sites.
A fuel cell generates electricity through a chemical reaction between oxygen and a fuel, such as natural gas or hydrogen, rather than burning the fuel. The systems can complement grid electricity rather than replace it entirely.
US cloud computing company Oracle has contracted for 1.2 gigawatts (GW) of generating capacity from Bloom fuel-cell systems. Oracle intends to procure up to 2.8 GW in total, but the larger figure is not all contracted capacity.
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Bloom chief executive KR Sridhar said on Thursday’s earnings call that the company delivered power to Oracle’s Utah site less than two months after announcing their first project. That is Bloom’s account of one deployment, not a general timetable for fuel-cell projects.
Rystad projects investment in fuel cells for data centers will rise from $2.8 billion in 2025 to about $30 billion by 2030. It estimates the industry’s order book at roughly 9 GW, including framework agreements that do not necessarily represent firm orders for their full stated capacity.
On-site generation does not remove the need to build supporting infrastructure. Bloom chief commercial officer Aman Joshi said site readiness, permits and infrastructure typically determine deployment timelines for projects larger than 100 megawatts, rather than the fuel-cell technology itself.
Projects still need gas connections, permits, transformers and switchgear—the equipment used to change voltage and control electrical circuits. These requirements can delay deployment. Further growth depends on suppliers delivering systems at competitive costs and developers completing projects and securing fuel.
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