Bloom Energy income statement
In fiscal 2025, Bloom Energy reported revenue of $2.02bn, up 37.3% on the year before, operating income of $72.8m (a 3.6% margin) and net income of −$87.1m, or −$0.37 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMSept 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 209 | 366 | 633 | 785 | 794 | 972 | 1,199 | 1,333 | 1,474 | 2,024 | 3,830 |
| Cost of revenue | 312 | 382 | 527 | 688 | 628 | 775 | 1,051 | 1,136 | 1,069 | 1,437 | 2,592 |
| Gross profit | −103 | −16 | 106 | 98 | 166 | 198 | 148 | 198 | 405 | 587 | 1,238 |
| Research and development | 47 | 51 | 89 | 104 | 84 | 103 | 151 | 156 | 149 | 186 | 236 |
| Selling and marketing | 29 | 32 | 63 | 74 | 56 | 86 | 91 | 90 | 68 | 130 | 176 |
| General and administrative | 62 | 56 | 119 | 153 | 107 | 122 | 168 | 161 | 165 | 198 | 259 |
| Operating income | −241 | −155 | −165 | −233 | −81 | −115 | −261 | −209 | 23 | 73 | 567 |
| Interest expense | 81 | 124 | 106 | 94 | 79 | 69 | 54 | 108 | 63 | 54 | 36 |
| Income before tax | −336 | −294 | −290 | −323 | −179 | −192 | −314 | −306 | −26 | −84 | 527 |
| Income tax | 1 | 1 | 2 | 1 | 0 | 1 | 1 | 2 | 1 | 3 | 4 |
| Net income | −280 | −276 | −274 | −304 | −158 | −164 | −302 | −302 | −27 | −87 | 520 |
| Diluted EPS | −$5.57 | −$5.39 | −$5.14 | −$2.67 | −$1.14 | −$0.95 | −$1.62 | −$1.42 | −$0.13 | −$0.37 | $1.69 |
| Diluted shares (average) | 50m | 51m | 53m | 115m | 139m | 173m | 186m | 213m | 227m | 240m | 308m |
| EBITDA | −198 | −101 | −111 | −154 | −29 | −61 | −199 | −146 | 76 | 123 | 621 |
| Quarter | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 | 2026 Q3Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 572 | 326 | 401 | 519 | 778 | 751 | 1,065 | 1,236 |
| Cost of revenue | 353 | 237 | 294 | 367 | 538 | 526 | 710 | 819 |
| Gross profit | 219 | 89 | 107 | 152 | 240 | 226 | 356 | 417 |
| Research and development | 39 | 41 | 41 | 49 | 56 | 57 | 59 | 64 |
| Selling and marketing | 22 | 22 | 24 | 42 | 42 | 38 | 43 | 52 |
| General and administrative | 53 | 45 | 46 | 53 | 55 | 58 | 71 | 75 |
| Operating income | 105 | −19 | −4 | 8 | 88 | 72 | 182 | 225 |
| Interest expense | 16 | 14 | 14 | 14 | 11 | 9 | 9 | 8 |
| Income before tax | 106 | −23 | −41 | −23 | 2 | 74 | 200 | 250 |
| Income tax | 0 | 0 | 1 | 0 | 1 | 0 | 1 | 1 |
| Net income | 105 | −24 | −43 | −23 | 2 | 71 | 196 | 250 |
| Diluted EPS | $589.87 | −$0.10 | −$0.18 | −$0.10 | $0.01 | $0.23 | $0.62 | $0.78 |
| EBITDA | 119 | −7 | 9 | 21 | 101 | 85 | 196 | 239 |
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