New York, Feb 5, 2026, 20:51 EST — Market closed.
- Bloom Energy shares dropped roughly 7% following a turbulent Thursday session.
- The company projected 2026 revenue between $3.1 billion and $3.3 billion, with non-GAAP EPS expected to range from $1.33 to $1.48.
- Traders weigh rapid data-center demand growth against shrinking margins and a volatile tape.
Bloom Energy’s stock closed the extended session around 7.3% lower at $136.60, having fluctuated between $131.75 and $162.43 throughout Thursday’s trading.
The stock’s shift is crucial because Bloom now acts as a high-beta stand-in for a key issue: who can supply dependable power quickly as AI data centers ramp up electricity use. That trade has grown volatile, with guidance-led stocks feeling the pressure first.
Bloom’s 2026 targets arrive as investors focus sharply on margins, not just top-line growth. A strong revenue forecast won’t necessarily boost the stock if the profit trajectory seems unstable.
Bloom announced Q4 revenue of $777.7 million, marking a 35.9% jump from last year, with full-year 2025 revenue hitting $2.02 billion—up 37.3%. The company’s total current backlog stands near $20 billion, including about $6 billion in product backlog—signed commitments not yet delivered. It forecasted 2026 revenue between $3.1 billion and $3.3 billion, with non-GAAP diluted EPS ranging from $1.33 to $1.48. These non-GAAP numbers exclude certain items. CEO K.R. Sridhar said, “Bring-your-own-power has shifted from a slogan to a business necessity,” while CFO Maciej Kurzymski highlighted efforts on “reducing product cost” and “driving operating leverage.” (Bloom Energy)
During the earnings call, Sridhar emphasized steady repeat demand instead of one-off deals. “Over two-thirds of our business year over year comes from repeat customers bringing in multiple repeat orders to us,” he said. (The Motley Fool)
A regulatory filing revealed that Bloom submitted its earnings release along with an investor presentation in a Form 8-K, providing investors with additional details before Friday’s open. (SEC)
Bloom’s stock has been volatile this week, plunging over the last two sessions despite the company beating analyst estimates on both its results and 2026 outlook. (Investors)
Bloom sells solid oxide fuel-cell systems designed for on-site power and has aggressively targeted data centers along with other commercial and industrial clients. This strategy has driven its shares into the wider “AI infrastructure” trade — and into its recent swings.
Utilities are hearing a familiar story from the other side of the meter. Xcel Energy reported this week that data centers powering artificial intelligence are boosting demand, forcing utilities to increase investments in new generation and grid infrastructure. (Reuters)
But bumps remain. Bloom’s fourth-quarter gross margin slipped compared to last year, despite an uptick in service margins. Longer sales and installation timelines also mean cash flow can be uneven. A slowdown in data-center construction, hiccups in customer financing, or changes to tax incentives could further disrupt results.
Investors will be closely watching this week to see if Bloom can convert its backlog into shipped products without sacrificing too much on price. They’ll also be monitoring whether the margin story remains intact after the initial earnings buzz dies down.
The next catalyst is straightforward and immediate: watch how BE moves when the regular session resumes Friday, Feb. 6, as investors parse the call’s details and the investor deck.
