Company file · BE
Bloom Energy
Installation was Bloom Energy's fastest-growing product or service in FY2025, up 66.8%
Revenue rose 37.3% to $2.0B in FY2025, from $1.5B in FY2024. It posted a net loss of $87M. Products was the largest product or service, at 76% of revenue.
Key facts
Bloom Energy (NYSE: BE) reported revenue of $2.0B for fiscal 2025, the year ended Dec 31, 2025, up 37.3% from fiscal 2024. Net income was −$87M, compared with −$27M. In its latest 10-Q, for the quarter ended Sep 30, 2026, revenue was $1.2B, up 138.1% from the same quarter a year earlier, and net income was $249M. The largest piece by product or service was Products, at 76% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Feb 9, 2026) and 10-Q for the quarter ended Sep 30, 2026 (filed Oct 22, 2026).
Source: 10-K FY2025, filed Feb 9, 2026
Source: 10-Q filed Apr 29, 2026 · 10-Q filed Jul 28, 2026 · 10-Q filed Oct 22, 2026
How it makes money
By product or service, FY2025
- LineAmountSharevs FY2024
- Products$1.5B76%+41.1%
- Services$228M11%+6.9%
- Installation$204M10%+66.8%
- Electricity$60M3%+14.2%
Source: 10-K FY2025, XBRL breakdown
By product or service in FY2025: Products (76%), Services (11%), Installation (10%) and Electricity (3%), as shares of total revenue. Total revenue was $2.0B.
Source: 10-K FY2025
Learn more: Revenue vs. net income · Gross, operating and net margin
What changed last quarter
Comparing Q3 2026 (Jul to Sep 2026) compared with Q3 2025 (Jul to Sep 2025)
Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.
Q3 2026Q3 2025
Company
A hatched bar is a loss, drawn by its size. The % change isn't shown when either quarter is a loss.
Source: Bloom Energy 10-Q for the quarter ended Sep 30, 2026, filed Oct 22, 2026
By product or service
Source: Bloom Energy 10-Q for the quarter ended Sep 30, 2026, filed Oct 22, 2026
The bull case and the bear case
The bull case
- Revenue rose 37.3% in FY2025 to $2.0B, from $1.5B a year earlier. 10-K, FY2025
- Operating cash flow rose 23.9% in FY2025 to $114M. 10-K, FY2025
- Revenue in the quarter ended Sep 30, 2026 was $1.2B, up 138.1% on a year earlier. 10-Q, quarter ended Sep 30, 2026
- Installation revenue grew 66.8% in FY2025 to $204M. 10-K, FY2025
The bear case
- It reported a net loss of $87M in FY2025. 10-K, FY2025
- Diluted shares rose 5.7% in FY2025, which spreads profit across more shares. 10-K, FY2025
- Total debt rose 110.9% in FY2025 to $2.6B. 10-K, FY2025
What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.
What the company does
Bloom Energy is in the electrical components & equipment industry, part of the industrials sector. The SEC files it under Electrical Industrial Apparatus.
The full description of Bloom Energy's business is in Item 1 of its 10-K, linked below. This page shows its revenue by product or service.
Its fiscal year ends in December; the latest, FY2025, ended Dec 31, 2025.
Source: 10-K, Item 1 Business
Risks common in this industry
These are general risks for companies in the electrical components & equipment industry. They are not a summary of Bloom Energy’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.
- Economic cyclesDemand for equipment and services rises and falls with business investment.
- Costs and supplyMaterial, labor and supplier problems can raise costs or delay delivery.
- Trade and tariffsTariffs and trade policy affect costs and sales.
- Contracts and backlogLarge projects and government contracts can be delayed, cut or repriced.
- Regulation and liabilitySafety, environmental and product-liability rules can raise costs.
Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)
Three years of key numbers
Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.
| US$ | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | $1.3B | $1.5B | $2.0B |
| Net income | −$308M | −$27M | −$87M |
| Operating cash flow | −$373M | $92M | $114M |
| Cash & equivalents (year end) | $665M | $803M | $2.5B |
| Total debt (year end) | $847M | $1.2B | $2.6B |
| Diluted shares | 213M | 227M | 240M |
- Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
- Net income: Net income including the share that belongs to minority owners of subsidiaries.
- Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
- Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
- Total debt: Short-term borrowings and the current part of long-term debt plus long-term debt, at carrying value.
- Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.
Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator
Explainers for this page
- Net debt and net cash
- Debt-to-equity ratio
- The cash flow statement
- Risk factors (Item 1A)
- Remaining performance obligations (RPO)
- Earnings releases
- Stock splits, explained
Plain-English guides to terms this file uses, with real numbers from filings.
About these numbers
- Net income here includes the share that belongs to minority owners of subsidiaries, the figure the company's tagged data carries for the whole business.
Recent filings
| Form | Filed | Period |
|---|---|---|
| 10-Q | Oct 22, 2026 | Sep 30, 2026 |
| 10-Q | Jul 28, 2026 | Jun 30, 2026 |
| 10-Q | Apr 29, 2026 | Mar 31, 2026 |
| DEF 14A | Apr 8, 2026 | Dec 31, 2025 |
| 10-K | Feb 9, 2026 | Dec 31, 2025 |
Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters
Common questions about Bloom Energy
How does Bloom Energy make money?
Bloom Energy's revenue was $2.0B in fiscal 2025. By product or service in FY2025: Products (76%), Services (11%), Installation (10%) and Electricity (3%), as shares of total revenue. Total revenue was $2.0B. Source: 10-K for fiscal 2025, filed Feb 9, 2026.
What was Bloom Energy's revenue in fiscal 2025?
$2.0B of revenue for the fiscal year ended Dec 31, 2025, up 37.3% from $1.5B in fiscal 2024. Fiscal 2023 was $1.3B. Source: 10-K for fiscal 2025, filed Feb 9, 2026.
Is Bloom Energy profitable?
Bloom Energy reported net income of −$87M for fiscal 2025, compared with −$27M from −$27M in fiscal 2024. That is a loss under US accounting rules (GAAP). In the quarter ended Sep 30, 2026, net income was $249M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 9, 2026.
What did Bloom Energy report in its latest quarterly filing?
Revenue was $1.2B in the quarter ended Sep 30, 2026, up 138.1% from $519M a year earlier. Net income was $249M, compared with −$23M from −$23M. Source: 10-Q for the quarter ended Sep 30, 2026, filed Oct 22, 2026.
How much cash and debt does Bloom Energy have?
Bloom Energy had $2.5B in cash and cash equivalents and $2.5B of total debt on Sep 30, 2026. Total debt here is short-term borrowings and the current part of long-term debt plus long-term debt, at carrying value. Source: 10-Q filed Oct 22, 2026.
What are the main risks Bloom Energy faces?
Bloom Energy's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Feb 9, 2026. Risks that are common among companies in the electrical components & equipment industry include Economic cycles; costs and supply; trade and tariffs; contracts and backlog; regulation and liability. The first: Demand for equipment and services rises and falls with business investment. Source: 10-K, Item 1A Risk Factors.
Where do these Bloom Energy numbers come from?
From Bloom Energy's own SEC filings: the 10-K for fiscal 2025 (filed Feb 9, 2026) and the 10-Q for the quarter ended Sep 30, 2026 (filed Oct 22, 2026), read through the SEC's public XBRL data. Each number on this page links to its filing. Methodology explains how fiscal years and missing numbers are handled.
Tracked funds that report owning Bloom Energy
- Millennium Management: 2,522,461 shares, reported value $763.5M at Jun 30, 2026 (+551.5% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Two Sigma Investments: 2,016,532 shares, reported value $610.4M at Jun 30, 2026 (−43.2% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Whale Rock Capital: 1,608,305 shares, reported value $486.8M at Jun 30, 2026 (−2.8% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Renaissance Technologies: 675,700 shares, reported value $204.5M at Jun 30, 2026 (+26.1% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 13, 2026.
- Citadel Advisors: 650,353 shares, reported value $196.9M at Jun 30, 2026 (+97.5% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
- Point72 Asset Management: 308,856 shares, reported value $93.5M at Jun 30, 2026 (+580.4% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Polen Capital Management: 40,838 shares, reported value $12.4M at Jun 30, 2026 (−39.3% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 4, 2026.
- Bridgewater Associates: 28,147 shares, reported value $8.5M at Jun 30, 2026 (−38.4% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Baillie Gifford: 52 shares, reported value $0.0M at Sep 30, 2026 (same number of shares as in the filing for Jun 30, 2026). Form 13F filed Nov 9, 2026.
From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.
Disclosures
- Editor holdings in BE
- The editor holds no position in Bloom Energy (BE). As of Nov 11, 2026.
- Trading rule
- The editor does not buy or sell BE from 3 days before to 3 days after this page is published or substantively updated.
- Compensation
- Nobody paid for this page. No affiliate links on this page.
- Sources
- The company's SEC filings, linked next to each number or, for charts, in the source line under them.
- Last updated
- Nov 2, 2026
General education, the same for every reader. Not a recommendation to buy, sell or hold BE, and it doesn't consider your situation.
Compare with peers
| Company | Fiscal year | Revenue | Revenue growth | Net income |
|---|---|---|---|---|
| Bloom EnergyBE | FY2025 | $2.0B | +37.3% | −$87M |
| EatonETN | FY2025 | $27.4B | +10.3% | $4.1B |
| EmersonEMR | FY2026 | $19.0B | +5.4% | $2.7B |
| VertivVRT | FY2025 | $10.2B | +27.7% | $1.3B |
| AmetekAME | FY2025 | $7.4B | +6.6% | $1.5B |
Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.
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New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.