BE · 10-Q · 2026Q1 · Full report

Revenue Performance and Mix

Bloom Energy Corp · 2026-04-29 · Importance 88 · Surprise 82

Total revenue for the three months ended March 31, 2026 was $751.1 million, an increase of $425.0 million or 130.4% year-over-year. Product revenue grew $441.5 million (208.4% YoY) driven largely by demand for Bloom Energy Server systems and multiple projects executed through the joint venture with Brookfield, including a major hyperscaler project. Service revenue increased $8.3 million (15.6% YoY) primarily from higher maintenance contract revenue, while electricity revenue declined $17.1 million (63.3% YoY) largely due to a one-time settlement and repowering-related straight‑line reductions. Installation revenue decreased $7.7 million (22.9% YoY) due to differences in project timing and milestone execution during the quarter.

Key facts

• Total revenue increased $425,033 thousand, or 130.4%, for the three months ended March 31, 2026 versus prior year
• Installation revenue decreased $7,720 thousand, or 22.9%, for the three months ended March 31, 2026 versus prior year
• Total revenue for the three months ended March 31, 2026: $751,054 thousand
• Total revenue for the three months ended March 31, 2025: $326,021 thousand
• Service revenue for the three months ended March 31, 2026: $61,879 thousand
• Service revenue for the three months ended March 31, 2025: $53,548 thousand
• Service revenue increased $8,331 thousand, or 15.6%, for the three months ended March 31, 2026 versus prior year
• Installation revenue for the three months ended March 31, 2026: $25,931 thousand

Impact estimates