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Sentiment · FY2026 Q2
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Chris Dendrinos | RBC Capital Markets | 14 (7%) |
| Colin Rusch | Oppenheimer | 11 (0%) |
| David Arcaro | Morgan Stanley | 10 (0%) |
| Manav Gupta | UBS | 10 (0%) |
| Sherif Elmaghrabi | BTIG | 7 (14%) |
| Mark Strouse | JPMorgan | 7 (0%) |
| Nick Amicucci | Evercore ISI | 6 (17%) |
| Ben Kallo | Robert W. Baird | 6 (0%) |
| Noel Parks | Tuohy Brothers | 5 (0%) |
| Michael Blum | Wells Fargo | 5 (40%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| RBC Capital Markets | 1 | 14 (7%) |
| Morgan Stanley | 2 | 14 (7%) |
| Oppenheimer | 1 | 11 (0%) |
| UBS | 1 |
| 10 (0%) |
| Robert W. Baird | 2 | 8 (0%) |
| BTIG | 1 | 7 (14%) |
| JPMorgan | 1 | 7 (0%) |
| Evercore ISI | 1 | 6 (17%) |
Bloom Energy reported first quarter revenue of $751.1 million, its first quarter of greater than 100% year-over-year growth as a public company, with product revenue at an all-time high of $653.3 million and gross margin of 31.5%, up approximately 280 basis points. Non-GAAP operating income reached $129.7 million against $13.2 million a year earlier, lifting operating margin to 17.3%, an expansion of more than 1,300 basis points, while non-GAAP fully diluted EPS rose to $0.44 from $0.03. The commercial headline was Oracle's Project Jupiter in New Mexico, an up to 2.45 gigawatt power block that replaces previously planned gas turbines and diesel backup with Bloom Energy Servers alone. Management raised 2026 revenue guidance from $3.1 billion to $3.3 billion up to $3.4 billion to $3.8 billion, lifted the gross margin outlook from 32% to 34%, and said the current manufacturing footprint supports 5 gigawatts of annual product delivery; Simon Edwards also joined as Chief Financial Officer, closing a year-long search.
Demand | Revenue Growth | Competitive Dynamics | Guidance Reliability | Innovation & R&D | Margin | Capex Investment | Capital Allocation | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 7 | 6 | 4 | 4 | 1 | 1 | 1 | 2 |
| 2025Q1 | 6 | 3 | 2 | 2 | 1 | 4 | 1 | |
| 2025Q2 | 8 | 2 | 2 | 2 | 2 | 2 | 1 | 1 |
| 2025Q3 | 5 | 6 | 3 | 4 | 2 | 1 | 3 | 5 |
| 2025Q4 | 5 | 5 | 3 | 3 | 4 | 2 | 1 | 2 |
| 2026Q1 | 4 | 2 | 3 | 3 | 3 | 4 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 7 | 6 | 8 | 5 | 5 | 4 |
| Revenue Growth | 6 | 3 | 2 | 6 | 5 | 2 |
| Competitive Dynamics | 4 | 2 | 2 | 3 | 3 | 3 |
| Guidance Reliability | 4 | 2 | 2 | 4 | 3 | |
| Innovation & R&D | 1 | 1 | 2 | 2 | 4 | 3 |
| Margin | 1 | 4 | 2 | 1 | 2 | 3 |
| Capex Investment | 1 | 1 | 1 | 3 | 1 | 4 |
| Capital Allocation | 2 | 1 | 5 | 2 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $572M | +60.4% | $0.36 | +2095.1% | 38.3% | 18.3% | 18.3% | $473M |
| FY2025 Q1 | $326M | +38.6% | $-0.10 | +60.0% | 27.2% | -5.8% | -7.3% | $-125M |
| FY2025 Q2 | $401M | +19.5% | $-0.18 | +33.3% | 36.1% | 8.5% | -10.6% | $-220M |
| FY2025 Q3 | $519M | +57.1% | $-0.10 | -52.4% | 29.2% | 1.5% | -4.4% | $7M |
| FY2025 Q4 | $778M | +35.9% | $0.00 | -98.9% | 30.8% | 11.3% | 0.1% | $398M |
| FY2026 Q1 | $751M | +130.4% | $0.23 | +330.0% | 30.0% | 9.6% | 9.4% | $48M |
| FY2026 Q2 | $1.07B | +165.5% | $0.62 | +444.4% | 33.4% | 17.1% | 18.4% | $71M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
What BE and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“This up to 2.45 gigawatt power block will replace Project Jupiter's previously planned gas turbines and backup diesel generators with Bloom Energy Servers.”
Oracle displaced previously planned gas turbines and diesel backup at Project Jupiter with Bloom Energy Servers, an up to 2.45 gigawatt sole-source win citing air quality, water use and speed.
“Last night, Oracle announced a new power paradigm for Project Jupiter, a multi-gigawatt AI factory to be built in New Mexico.”
Oracle publicly committed to a multi-gigawatt AI factory in New Mexico built on a new on-site power paradigm with Bloom as sole provider.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
BE Bloom Energy Corporation | 10 | +130.4% | |
| HUBB Hubbell Incorporated | 8 | +11.1% | |
| SMR NuScale Power Corporation | 2 | -95.8% | |
| VRT Vertiv Holdings Co | 9 | +30.1% |