Bloom Energy, The Clean Energy Choice For AI Data Centers, Tops Outlook; Amazon Announces AI Spending| Investor's Business DailyMARKET OUTLOOK: [Investing Pro Says 'Optimism Pays' In Today's Economy]---Renewable energy and power supplier Bloom Energy (BE) topped fourth-quarter earnings and revenue after the stock market close Thursday, with revenue jumping 36% compared to a year ago. The company also outlined better-than-expected 2026 guidance. Bloom Energy stock dropped significantly Wednesday and Thursday ...

分组1 - Bloom Energy reported quarterly earnings of $0.45 per share, exceeding the Zacks Consensus Estimate of $0.25 per share, and showing an earnings surprise of +80.00% [1] - The company achieved revenues of $777.68 million for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 19.81%, compared to $572.39 million in the same quarter last year [2] - Bloom Energy has consistently outperformed consensus EPS and revenue estimates over the last four quarters [2] 分组2 - The stock has increased approximately 69.6% since the beginning of the year, significantly outperforming the S&P 500's gain of 0.5% [3] - The current consensus EPS estimate for the upcoming quarter is $0.01 on revenues of $447.12 million, and for the current fiscal year, it is $0.95 on revenues of $2.64 billion [7] - The Zacks Industry Rank for Alternative Energy - Other is in the top 39% of over 250 Zacks industries, indicating a favorable outlook for the sector [8]

Core Viewpoint - Bloom Energy Corp reported a significant earnings beat in Q4, leading to a 10.5% stock price increase, reflecting investor enthusiasm for the company's strong performance and ambitious outlook for 2026 [1][3] Financial Performance - The adjusted earnings per share for Q4 were $0.45, surpassing the analyst consensus of $0.30 [3] - Revenue surged to $777.7 million, a year-over-year increase of 35.9%, significantly exceeding Wall Street's estimate of $640.07 million [3] - The company achieved record revenue of $2.02 billion for the full year 2025, representing a 37.3% growth compared to 2024 [3] Future Outlook - Bloom Energy projects revenue for fiscal year 2026 to be between $3.1 billion and $3.3 billion, well above the analyst expectation of $2.577 billion [3] - The expected adjusted earnings per share for 2026 is forecasted to be between $1.33 and $1.48, exceeding the consensus estimate of $1.12 [3] Operational Highlights - The non-GAAP gross margin for the quarter was reported at 31.9%, a decrease of 7.4 percentage points year-over-year [3] - The company emphasized progress in reducing product costs and improving operational leverage, executed with discipline and consistency [4] - All product shipments are now prepared to support 800V DC, positioning Bloom for continued growth in the AI data center sector, which has become a significant revenue driver [4] Order Backlog - Bloom's product backlog increased approximately 2.5 times year-over-year to about $6 billion, with total current backlog reaching around $20 billion, indicating strong future demand for its energy solutions [3]

Financial Data and Key Metrics Changes - Revenue for Q4 2025 was $777.7 million, up 35.9% year-over-year, while full-year revenue reached a record $2 billion, up 37.3% from 2024 [18][20] - Adjusted EBITDA for Q4 was $146.1 million, slightly down from $147.3 million in Q4 2024, indicating strong operating leverage as the company scales [19] - Non-GAAP gross margin for Q4 was 31.9%, down from 39.3% in Q4 2024, while full-year non-GAAP gross margin improved to 30.3% from 28.7% in 2024 [18][20] - The company ended Q4 with $2.5 billion in total cash and a service backlog of approximately $14 billion [19][21] Business Line Data and Key Metrics Changes - The service business achieved a gross margin of approximately 20% for the first time in Q4, marking the third consecutive quarter of double-digit margins [19] - Product backlog increased by 140% year-over-year to about $6 billion, with the C&I backlog growing over 135% year-over-year [7][21] - The company reported a product margin of 37% while service margins were approximately 20% [19] Market Data and Key Metrics Changes - The geographic mix of the U.S. backlog has shifted, with over 80% now coming from states with lower power costs, compared to over 80% from California and the Northeast two years ago [9][10] - The demand from data center and commercial and industrial (C&I) customers is secular and growing, driven by digitization, automation, electrification, and reshoring [8][9] Company Strategy and Development Direction - The company aims to become the standard for on-site power, focusing on rapid deployment and reliability, particularly in the context of AI and data centers [6][10] - Bloom Energy is investing in its commercial team to capitalize on growing sales opportunities and plans to expand manufacturing capacity as needed [8][10] - The introduction of 800 volts DC technology is positioned as a competitive advantage, aligning with the needs of modern data centers [13][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory, expecting 2026 revenue to be between $3.1 billion and $3.3 billion, with a non-GAAP operating income of approximately $425 million to $475 million [22] - The company anticipates continued improvements in service profitability as it expands its install base and scales operations [21] - Management highlighted the importance of customer satisfaction and repeat business, noting that over two-thirds of business comes from repeat customers [25][26] Other Important Information - The company has a strong focus on technology innovation, with ongoing investments in R&D to enhance its product offerings and maintain competitive advantages [16][34] - Bloom Energy's approach to manufacturing is described as asset-light, allowing for rapid scaling without the lengthy delivery backlogs faced by traditional suppliers [11][12] Q&A Session Summary Question: Follow-on opportunities at existing customers - Management noted that over two-thirds of business comes from repeat customers, indicating strong traction and satisfaction with initial projects [25][26] Question: Milestones for capacity expansion - Management stated that decisions on capacity expansion are continuous and based on market opportunities, emphasizing their capital-light approach [27][29] Question: Deployment of HVDC architecture - Management expressed confidence in the competitive advantage of 800-volt DC technology and its anticipated adoption by data centers [30][31] Question: Progress on combined heat and power solutions - Management highlighted the potential for absorption chillers to reduce electricity usage significantly, enhancing competitiveness [38][41] Question: Competitive landscape against legacy technologies - Management indicated that Bloom Energy is increasingly operating in the same project size category as combined-cycle gas turbines, showcasing their competitive capabilities [45][48] Question: Life of fuel cell stacks and service margins - Management reported eight consecutive quarters of profitability in the service business, with improvements in fuel cell stack life contributing to this trend [50][51] Question: Supplier growth projections - Management acknowledged the enthusiasm from supply chain partners but clarified that they do not provide long-term guidance [56][57] Question: U.S. vs. international market opportunities - Management emphasized that while the U.S. market is currently the focus due to rapid growth, they plan to expand globally in the future [60][62] Question: Pricing strategy and leverage - Management stated that pricing is market-driven and that they do not foresee issues balancing growth and profitability [66][68] Question: Interest in potential M&A - Management indicated that while they can be selective about acquisitions, their primary focus remains on scaling their core product [69][70]

Financial Data and Key Metrics Changes - The company achieved record revenue of $777.7 million for Q4 2025, representing a 35.9% year-over-year increase [18] - Full year revenue reached $2 billion, up 37.3% from 2024 [20] - Adjusted EBITDA for Q4 was $146.1 million, slightly down from $147.3 million in Q4 2024 [19] - Non-GAAP gross margin for Q4 was 31.9%, down from 39.3% in Q4 2024 [18] - Non-GAAP operating profit for the full year was $221 million, an increase of $113.4 million from the previous year [20] - The company ended the quarter with $2.5 billion in total cash on the balance sheet [19] Business Line Data and Key Metrics Changes - The service business achieved approximately 20% non-GAAP gross margin for the first time in Q4 2025 [19] - The product backlog increased by 140% year-over-year to about $6 billion [7] - The service backlog reached approximately $14 billion, indicating strong growth potential [21] Market Data and Key Metrics Changes - The CNI (Commercial and Industrial) backlog grew over 135% year-over-year, driven by sectors such as telecom, manufacturing, logistics, retail, healthcare, and education [9] - The geographic mix of the U.S. backlog shifted, with over 80% now coming from states with lower power costs, compared to over 80% from California and the Northeast two years ago [9][10] Company Strategy and Development Direction - The company is focusing on becoming the standard for on-site power, capitalizing on the growing demand from data centers and CNI customers [8] - Investments will be made in the commercial team to enhance sales opportunities in 2026 [8] - The company is committed to expanding manufacturing capacity in a capital-light manner, allowing for rapid scaling without significant upfront investment [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to meet growing power demands, particularly in the context of AI and digital infrastructure [8][10] - The company anticipates continued improvements in service profitability as the install base expands [21] - Management highlighted the importance of 800 Volts DC technology as a future-proof solution for data centers, enhancing efficiency and reducing costs [15][16] Other Important Information - The company reported a cash flow from operating activities of $113.9 million for Q4 2025 [19] - Capital expenditures for the year were $57 million, with expectations for 2026 capital spending to be between $150 million and $200 million [22] Q&A Session Summary Question: Follow-on opportunities at existing customers - Management noted that over two-thirds of business comes from repeat customers, indicating strong customer satisfaction and ongoing engagement [25] Question: Milestones for capacity expansion - Management stated that decisions on capacity expansion are continuous and based on market opportunities, with a quick ramp-up capability [27][28] Question: Deployment of HVDC architecture - Management expressed confidence in the competitive advantage of 800-volt DC technology and its anticipated adoption in data centers [30][31] Question: Progress on combined heat and power solutions - Management highlighted the potential for absorption chillers to reduce electricity usage significantly, enhancing competitiveness [39][41] Question: Project wins against legacy technologies - Management confirmed that the company is operating in the same project size category as combined-cycle gas turbines, demonstrating competitive capabilities [45][48] Question: Life of fuel cell stacks and service margins - Management emphasized the continuous profitability of the service business and improvements in fuel cell stack performance [50][51] Question: Supplier growth projections - Management refrained from providing long-term guidance but acknowledged the bullish sentiment from supply chain partners [56][57] Question: U.S. vs. international market opportunities - Management indicated that while the U.S. market is currently the focus, the company plans to expand globally as infrastructure develops [61][62] Question: Pricing strategy and leverage - Management stated that pricing is market-driven and based on the value proposition offered to customers, with no immediate concerns about pricing pressures [66][69] Question: Interest in potential M&A - Management indicated that while they are open to selective acquisitions, the primary focus remains on scaling the core product [70][71]

Financial Data and Key Metrics Changes - Revenue for Q4 2025 was $777.7 million, up 35.9% year-over-year, while full-year revenue reached a record $2 billion, up 37.3% from 2024 [16][18] - Adjusted EBITDA for Q4 was $146.1 million, slightly down from $147.3 million in Q4 2024, indicating strong operating leverage as the company scales [17] - Non-GAAP gross margin for Q4 was 31.9%, down from 39.3% in Q4 2024, while full-year non-GAAP gross margin improved to 30.3% from 28.7% in 2024 [16][18] - Operating income for Q4 was $133 million, nearly flat compared to $133.4 million in the same quarter last year [17] Business Line Data and Key Metrics Changes - The service business achieved approximately 20% non-GAAP gross margin for the first time, marking the third consecutive quarter of double-digit margins [15][17] - Product backlog increased 140% year-over-year to about $6 billion, while service backlog reached approximately $14 billion [5][19] - CNI (Commercial and Industrial) backlog grew over 135% year-over-year, driven by digitization, automation, and electrification trends [7][46] Market Data and Key Metrics Changes - The geographic mix of the U.S. backlog shifted significantly, with over 80% now coming from states with lower power costs, compared to over 80% from California and the Northeast two years ago [7][8] - The demand from data center and CNI customers is secular and growing, with a strong sales pipeline noted [6][46] Company Strategy and Development Direction - The company aims to become the standard for on-site power, focusing on rapid deployment and reliability, particularly in the context of increasing demand from AI and data centers [5][10] - Investments will continue in R&D and commercial efforts to capitalize on growth opportunities, with a focus on expanding manufacturing capacity as needed [10][19] - The transition to 800 Volts DC is highlighted as a key innovation, positioning the company ahead of competitors in meeting future power needs [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to scale operations without the lengthy delivery backlogs faced by traditional suppliers, emphasizing a capital-light approach to expansion [9][10] - The outlook for 2026 anticipates revenue between $3.1 billion and $3.3 billion, with continued improvements in gross margins and operating income [19][20] - The company is optimistic about the future, citing significant increases in capital expenditures from major tech companies as a positive indicator for growth in digital infrastructure [43][60] Other Important Information - The company has a strong balance sheet with $2.5 billion in total cash and a focus on maintaining operational efficiencies to drive cost reductions [17][59] - The service business is expected to grow significantly, supported by a large backlog and continuous improvements in technology and operational efficiency [39][41] Q&A Session Summary Question: Follow-on opportunities at existing customers - Management noted that over two-thirds of business comes from repeat customers, indicating strong customer satisfaction and ongoing engagement [22][23] Question: Milestones for capacity expansion - The company can quickly ramp up capacity based on market demand, with decisions made continuously as opportunities arise [24][25] Question: Deployment of HVDC architecture - Management is optimistic about the competitive advantage of 800-volt DC technology and anticipates strong demand for this solution [26][27] Question: Progress on combined heat and power solutions - On-site power generation allows for more efficient cooling solutions, potentially reducing electricity usage significantly in data centers [31][32] Question: Competitive landscape against legacy technologies - The company is seeing project wins against traditional technologies, emphasizing its ability to compete on efficiency and adaptability [35][36] Question: Life of fuel cell stacks and service margins - Continuous improvements in technology and service operations are expected to enhance profitability in the service business [38][39] Question: Supplier growth projections - Management acknowledged the enthusiasm from supply chain partners but clarified that long-term guidance has not been provided [42][43] Question: U.S. vs. international market opportunities - The company sees the U.S. as the primary focus for growth in the near term, with plans to expand internationally as infrastructure develops [46]

Core Viewpoint - Bloom Energy's stock has rebounded significantly after reporting strong fourth-quarter 2025 financial results and providing optimistic guidance for 2026, leading to a 12.7% increase in stock price after hours [1]. Financial Performance - Bloom Energy reported Q4 2025 revenue of $777.7 million, exceeding analysts' expectations of $645.3 million, marking a 35.9% year-over-year increase [2]. - The company achieved adjusted diluted earnings per share (EPS) of $0.45, surpassing the anticipated $0.30 [2]. - In Q4 2025, Bloom Energy generated $418.1 million in operating cash flow, contributing to a total cash flow from operating activities of $113.9 million, which is a 23.8% year-over-year increase [3]. Future Outlook - For 2026, Bloom Energy projects revenue between $3.1 billion and $3.3 billion, with adjusted EPS expected to be between $1.33 and $1.48 [4]. - This guidance is set against a backdrop of reported revenue of $2.02 billion and adjusted diluted EPS of $0.76 for the previous year [4]. Competitive Position - Bloom Energy is positioned as a leading player in the fuel cell sector, distinguished by its consistent profitability and positive operating cash flows, making it a compelling choice for investors interested in fuel cell and hydrogen stocks [5].

February 5, 2026 Q4'25 Earnings Forward-looking Statements and Non-GAAP Financial Measures This presentation may contain certain forward-looking statements relating to future events and expectations, including our expectation regarding the increased adoption of onsite power; that the Bloom platform will become the standard for onsite power and our positioning for long-term, profitable growth and estimates and projections for our business outlook for the 2026 fiscal year, each of which is based on current ex ...

Core Insights - Bloom Energy shares are experiencing significant growth, attributed to strong financial performance and positive market sentiment Financial Performance - Bloom Energy reported Q4 revenue of $777.7 million, a 35.9% increase year-over-year, surpassing the Street consensus estimate of $652.1 million [2] - The company achieved Q4 earnings per share of 45 cents, exceeding the consensus estimate of 31 cents per share [2] - For the full fiscal year, Bloom Energy recorded a revenue of $2.02 billion, up 37.3% year-over-year, driven by growth in the AI data center sector [3] - The company reported record gross margins for the full year and marked the second consecutive year of positive cash flow from operations [3] Backlog and Future Guidance - Bloom Energy has a current backlog of approximately $20 billion, with a product backlog of around $6 billion, reflecting a 250% increase year-over-year [3] - The company anticipates fiscal 2026 adjusted earnings per share in the range of $1.33 to $1.48, compared to a Street consensus estimate of $1.07 [4] - Fiscal 2026 net sales are projected to be between $3.10 billion and $3.30 billion, significantly higher than the $2.54 billion forecasted by analysts [5] Stock Performance - Bloom Energy stock rose by 11.27% to $152 in after-hours trading, within a 52-week trading range of $15.15 to $176.49 [6]

Bloom Energy Reports Fourth Quarter and Full Year 2025 Financial Results with Record Full Year Revenues SAN JOSE, Calif., February 5, 2026—Bloom Energy Corporation (NYSE: BE) reported today its financial results for the fourth quarter and the full year ended December 31, 2025. The company had record revenue of $2.02 billion for the full year driven by significant growth from the AI data center industry and continued strong demand from the C&I business. Full Year Highlights Fourth Quarter Highlights Product ...