Bloom Energy Guides $3.1–$3.3B 2026 Revenue After 35.9% Q4 Growth
Bloom Energy’s Q4 revenue climbed 35.9% to $777.7 million, lifting full-year 2025 revenues 37% to $2.02 billion and expanding product backlog 140% to $6 billion, with total backlog near $20 billion. Management guided 2026 revenue to $3.1–$3.3 billion while shares retraced following recent AI-driven gains.
1. Q4 Financial Results
In Q4 2025, Bloom Energy delivered revenue of $777.7 million, a 35.9% year-over-year increase, capping full-year 2025 revenue at $2.02 billion, up 37%. Adjusted earnings per share reached $0.45 as improving gross margins and operating leverage drove profitability.
2. AI-Driven Demand and Backlog
The company’s fuel-cell systems saw surging orders from AI data centers and power-intensive manufacturers, pushing product backlog up 140% year-over-year to $6 billion and lifting total backlog close to $20 billion.
3. 2026 Guidance and Analyst Outlook
Management guided 2026 revenue to a range of $3.1 billion–$3.3 billion, underscoring confidence in ongoing AI tailwinds. Mizuho raised its price target to $110 from $89, while maintaining a neutral stance on valuation risk amid strong growth.
4. Technical Indicators and Momentum
Shares retraced roughly 3% after recent gains, trading 1.2% above their 20-day moving average and 25.7% above their 50-day average. The RSI sits near 58, indicating neutral momentum, while the MACD remains below its signal line, reflecting mixed technical signals.