The Quarter in Brief
Bloom Energy, which makes fuel cells that generate electricity on a customer's own site, reported its third quarter of 2026, the three months to September 30, after the market closed on October 22. Revenue was a record $1.24 billion, up 138% from $519 million a year earlier. Reported (GAAP) earnings were $0.78 a share, against a loss of $0.10 a year earlier. Non-GAAP earnings, Bloom's own measure that leaves out stock-based pay and a few other items, were $0.94 a share, up from $0.15.
Both were well ahead of expectations: analysts had expected about $1.06 billion of revenue and non-GAAP earnings of about $0.69 a share, according to the consensus Investing.com reported. Nearly all of the growth came from product sales, which almost tripled as data-center customers took delivery of their systems. What set the quarter apart was cash: for the first time this year, Bloom's operations used cash rather than produced it, by $27 million, as it built up inventory and work it has done but not yet billed.