Bloom Energy Corporation
As of Fiscal Year 2025 (ended December 31, 2025)
Key KPIs at a Glance
| Metric | Value |
|---|---|
| Total revenue (FY2025) | $2.02 billion, up 37.3% year-over-year |
| GAAP net loss (FY2025) | $(88.4) million, or $(0.37) per diluted share -- widened from FY2024's $(29.2) million loss due to one-time debt-refinancing charges, not operating performance |
| Non-GAAP net income (FY2025) | $198.0 million, or $0.76 per diluted share |
| GAAP operating income (FY2025) | $72.8 million, 3.6% margin (10.9% non-GAAP operating margin) |
| Gross margin (FY2025) | 29.0% GAAP / 30.3% non-GAAP |
| Total backlog (as of December 31, 2025) | approximately $20.0 billion (product backlog ~$6.0 billion, up ~2.5x year-over-year; service backlog ~$14.0 billion) |
| Cash and cash equivalents (as of December 31, 2025) | $2.45 billion |
| Total debt (as of December 31, 2025) | $2.62 billion, almost entirely long-term recourse debt |
| Employees (as of December 31, 2025) | 2,214 (1,752 in the U.S., 395 in India, 67 elsewhere) |
| FY2026 guidance (company-issued) | Revenue $3.1-$3.3 billion; non-GAAP operating income $425-$475 million |
Sources: Bloom Energy does not disclose operating or net income broken out by revenue line, so only consolidated profitability figures are shown. FY2025 GAAP net loss widened versus FY2024 despite 37% revenue growth and positive GAAP operating income, because of large one-time, non-operating financing charges tied to convertible-debt refinancing (a $32.3 million loss on debt extinguishment and a $66.2 million debt conversion inducement expense) plus equity-method losses and an asset impairment; non-GAAP net income was solidly positive. Bloom has not yet reported a full year of GAAP net profitability. FY2021-FY2023 revenue figures are from a third-party aggregator (stockanalysis.com); FY2024 and FY2025 are exact, primary-sourced figures. The market-share estimate below is a single third-party research estimate (Global Market Insights) and should be read as directional.