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Bloom Energy (BE) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 22, 2026 · Bloom Energy (BE) Q3 2026 earnings results →

Q3 2026 Revenue up 138% year over year to $1.2B · 20¢ of every $1 of revenue kept as net profit · operating margin 18.2%

Bloom Energy made $1.2B in Q3 2026 (+138% Y/Y): Product $1.1B, Installation $84.9M, Service $67.6M. Operating margin 18.2%, net earnings $250M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 22, 2026.

Revenue$1.2B

Year over year+138%

Operating margin18.2%

Net earnings$250M

Operating cash flow−$27.1M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $1.2B in Q3 2026, up 138% year over year and up 16% from the previous quarter. Product was the largest line at 87% of revenue. Product added $0.69B year over year (up 179%), 96% of the total change.

Gross margin was 33.8%, up 4.5 points from Q3 2025. Operating profit was $0.23B, a 18.2% margin (up 16.7 points year over year). Of the extra revenue versus Q3 2025, 30% reached operating profit, above the 2% margin then. Operating expenses grew 33% against revenue growth of 138%. The fastest-growing cost line was General & admin (+41%). Net earnings were $0.25B ($0.25B including minority interests, which bore $1.3M of losses). The effective tax rate was 0.3%.

Operating cash flow was −$0.03B. Non-cash charges added back $0.01B of depreciation. Working capital and other items used $0.29B. Capital expenditures of $0.15B exceeded it, leaving free cash flow of −$0.18B.

Quarterly history

Quarter	Form	Filed	Revenue	Y/Y	Op. margin	Net earnings	Op. cash flow
Q3 2026	10-Q	Oct 22, 2026	$1.2B	+138%	18.2%	$250M	−$27.1M
Q2 2026	10-Q	Jul 28, 2026	$1.1B	+166%	17.1%	$196M	$226M
Q1 2026	10-Q	Apr 29, 2026	$751M	+130%	9.6%	$70.7M	$73.6M
Q4 2025	10-K	Feb 9, 2026	$778M	+36%	11.3%	$1.4M	$418M
Q3 2025	10-Q	Oct 28, 2025	$519M	+57%	1.5%	−$23.0M	$19.7M
Q2 2025	10-Q	Jul 31, 2025	$401M	+20%	-0.9%	−$42.2M	−$213M
Q1 2025	10-Q	Apr 30, 2025	$326M	+39%	-5.8%	−$23.4M	−$111M

Charts

Latest (Q3 2026): Y/Y +138%, Q/Q +16%.

From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.

Latest (Q3 2026): Net income $249M, Operating cash flow −$27.1M.

+73.3% since FY2020: more shares outstanding (issuance, stock pay).

Cash $2.5B, short-term investments —, long-term debt $2.6B at 2025-12-31.

Electrical Industrial Apparatus; dot size is quarterly revenue; dashed lines are the industry's medians.

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