BE · 10-Q · 2026Q1 · Full report

Interest Income and Refinancing Impact

Bloom Energy Corp · 2026-04-29 · Importance 71 · Surprise 82

Interest income for Q1 2026 increased by $12.0 million year‑over‑year to $20.6 million, primarily from investment earnings on higher cash and money market fund balances. The filing attributes the gain mainly to refinancing debt to a 0% coupon due 2030 which increased average money market fund balances by $2.4 billion during the period. Interest expense declined $5.8 million YoY as a result of induced conversions and settlements of prior Green Notes, partially offset by $3.0 million of debt issuance costs related to the 0% Notes and $0.6 million of amortized revolving credit facility issuance costs. The net effect was higher net interest income and materially larger cash investment income in Q1 2026.

Key facts

• Increase in interest income was largely due to refinancing debt to a 0% coupon to 2030 which added $2.4 billion to average cash balances in money market funds during the period
• Decrease in interest expense included reductions of $3.0 million related to the 3% Green Notes due June 2029 and $5.2 million related to the 3% Green Notes due June 2028 from induced conversions in Q4 2025, partially offset by $3.0 million of debt issuance costs for the 0% Notes issued Nov 4, 2025 and $0.6 million amortization of issuance costs for the revolving credit facility
• Interest expense decreased by $5,807 thousand for the three months ended March 31, 2026 versus prior year
• Interest income for the three months ended March 31, 2026: $20,601 thousand
• Interest income increased $12,048 thousand for the three months ended March 31, 2026 versus prior year
• Interest expense for the three months ended March 31, 2026: $(8,604) thousand
• Interest expense for the three months ended March 31, 2025: $(14,411) thousand

Impact estimates