Bloom Energy (BE) Q3 2026 Earnings Report

The call was strongly positive. Bloom reported record revenue, substantial year-over-year profitability and margin expansion, multiple upward guidance revisions, backlog growth faster than revenue, major customer and utility opportunities, and continued investment funded by operations. The main negatives were quarterly operating and free cash flow usage, working-capital requirements, delivery-timing variability, and near-term scaling costs, but management characterized the business as self-funding and maintained a positive outlook.

For full year 2026, Bloom raised its revenue outlook to $4.4 billion to $4.6 billion, representing year-over-year growth of approximately 122% at the midpoint; KR described this as over 120% year-on-year revenue growth at the midpoint, compared with the year-on-year revenue growth of 60% expected at the 26 Q1 earnings call. Bloom maintained its non-GAAP gross margin outlook of approximately 34%, up from 30% in 2025 and its original outlook of approximately 32% at the beginning of the year, and raised its non-GAAP operating income outlook to $960 million to $1.03 billion, with a 22% operating margin at the midpoint compared with 14% at the midpoint of its February outlook; non-GAAP diluted EPS outlook is now $3.10 to $3.40.