Bloom Energy posts record 2025 revenue on AI demand

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Bloom Energy ( (BE) ) has shared an update.

On February 5, 2026, Bloom Energy reported record full-year 2025 revenue of $2.02 billion, up 37.3% from 2024, driven by strong growth in AI data center demand and continued strength in its commercial and industrial business. The company expanded its product and service revenue to $1.76 billion, improved full-year gross margin to 29.0%, and increased GAAP operating income to $72.8 million, while generating $113.9 million in operating cash flow and achieving a second consecutive year of positive free cash flow. Bloom also highlighted a sizeable total backlog of about $20 billion, including approximately $6 billion in product backlog—2.5 times higher year-on-year—indicating robust future demand and reinforcing its positioning as a key power platform provider for digital infrastructure. In the fourth quarter of 2025, revenue rose 35.9% year-on-year to $777.7 million, with sharply higher service margins and $418.1 million in operating cash flow, although gross margin and operating income declined versus the prior-year quarter, reflecting a trade-off between rapid top-line growth and near-term margin compression as the company pursues scale and strategic investments.

The most recent analyst rating on (BE) stock is a Hold with a $133.00 price target. To see the full list of analyst forecasts on Bloom Energy stock, see the BE Stock Forecast page.

Spark’s Take on BE Stock

According to Spark, TipRanks’ AI Analyst, BE is a Neutral.

The score is driven primarily by improving fundamentals (return to profitability and sharply better free cash flow) and a strong earnings-call update (record growth, margin expansion, and expansion/partnership momentum). Technicals add support via strong trend signals, but overbought indicators and high balance-sheet leverage elevate risk. Valuation is a meaningful drag due to the negative P/E and lack of dividend yield data.

To see Spark’s full report on BE stock, click here.

More about Bloom Energy

Bloom Energy Corporation is a U.S.-based energy technology company that designs and manufactures solid oxide fuel cell systems, marketed as Energy Servers, to provide on-site, reliable and efficient power. The company focuses on commercial and industrial customers and, increasingly, AI data centers and hyperscalers seeking resilient, “bring-your-own-power” solutions as an alternative to legacy grid and backup power infrastructure.

Average Trading Volume: 13,287,575

Technical Sentiment Signal: Buy

Current Market Cap: $34.85B

For a thorough assessment of BE stock, go to TipRanks’ Stock Analysis page.