Alternative Energy Equipment / Distributed Power Generation
Strategic Profile
Bloom Energy's backlog surged to $6 billion driven by partnerships and demand from AI data centers, with a 19.81% revenue surprise in Q4 2025. The company has partnerships with Brookfield Asset Management for AI infrastructure and is working with Oracle, in addition to its 2024 deal with American Electric Power.
Cyborg Score Rationale
Bloom Energy has achieved four consecutive quarters of record revenue and recently became profitable as of its latest earnings report. The company's backlog reached $20 billion with a $6 billion increase in Q4 2025 alone. However, the stock trades at an extremely elevated valuation with limited near-term profitability cushion.
Top Insights
Energy sovereignty is now a mission-critical need for data centers, strengthening Bloom Energy's competitive moat
Bloom expects to increase capacity from 1 GW to 2 GW by end of 2026
For 2026, the company forecasts revenue between $3.1-3.3 billion with non-GAAP gross margin of 32% and operating income of $425-475 million
2026 guidance projects revenue up more than 50% year-on-year with 14% non-GAAP operating margin
Named Competitors
Plug Power — Hydrogen fuel cell systems and green hydrogen production
FuelCell Energy — Stationary fuel cell power generation
Ballard Power — Proton exchange membrane fuel cells
Recent Developments
(February 2026) Bloom Energy raised guidance with $20B backlog; stock surged 285% in 2025
(February 2026) Major data center deal announced for 1.5 GW facility in Navarro County, Texas
(October 2025) $5 billion partnership announced with Brookfield Asset Management for AI infrastructure
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