Bloom Energy shares rise 5.0% premarket on eve of third-quarter results
Key Facts
Bloom Energy shares rose 5.0% in premarket trading on October 21, 2026, according to Investing, ahead of the company's third-quarter results. The company reported revenue of $1,065.4 million in the second quarter of 2026, according to its earnings release. That represents year-on-year growth of 165.5%, compared with revenue of $401.2 million in the second quarter of 2025. Product revenue rose to $935.4 million for the quarter, Bloom said, from $296.6 million in the corresponding period a year earlier. Year-on-year product revenue growth reached 215.4%, exceeding the growth rate of the company's total revenue in the same quarter.
Bloom's expanded partnership with Oracle dates to an announcement on April 13, 2026, and includes a master services agreement supporting potential purchases of fuel cell systems with capacity of up to 2.8 gigawatts. Initial contracted capacity stood at 1.2 gigawatts when the expansion was announced, with deployments already underway. Bloom said at the time that deployment of this capacity would continue into the following year as part of the expanded agreement between the companies. The original partnership, announced in July 2025, included a commitment to provide on-site power for Oracle's AI data centers within 90 days. In a statement dated October 13, 2026, Oracle confirmed Project Jupiter's continued reliance on Bloom's fuel cell network, saying that "the primary power source for Project Jupiter will remain Bloom Energy's fuel cell microgrid."
In another move to expand their AI-related power business, Bloom and Brookfield announced an expansion of their partnership on June 30, 2026. The financing framework for AI infrastructure power projects increased from $5 billion to $25 billion, reaching five times its previous size. The framework is allocated to project financing, with capital commitments subject to commercial and investment conditions. The partnership statement attributed the expansion to "strong and sustained demand from hyperscalers and AI infrastructure developers" for fast, reliable power. The original partnership announcement stipulated that Bloom would become the preferred on-site power provider for Brookfield's AI factories globally. Regarding its advanced investment opportunities, Brookfield Infrastructure said it "will only commit significant capital once appropriate commercial arrangements are secured and risk-adjusted return targets are met."
Bloom's technology relies on solid oxide fuel cells, according to a technical statement the company issued in September 2026. The company says these cells generate electricity through an electrochemical process at the point of consumption. The systems produce continuous direct-current electricity at 800 volts, according to Bloom's technical description. On financial performance, the second-quarter earnings presentation filed with the U.S. Securities and Exchange Commission showed a GAAP gross margin of 33.4%. That compares with a margin of 26.7% in the second quarter of 2025, alongside growth in the company's total and product revenue.
Bloom raised its 2026 revenue guidance when it announced second-quarter results on July 28, 2026. The company set its annual revenue target range at $3.9 billion to $4.2 billion, according to the earnings presentation filed with the U.S. Securities and Exchange Commission. It scheduled its third-quarter results announcement for October 22, 2026, after the market closes. The company is scheduled to hold its earnings conference call the same day at 5 p.m. U.S. Eastern Time. The announced duration of the call is 60 minutes, according to the company's earnings date announcement.