---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/43012415.md"
description: "Bloom Energy 2Q26 First Take: the company delivered another strong quarter. Management raised FY26 guidance again.1) Q2 results: revenue and profit beat sharply.Total revenue came in at $10.7bn, well above the Street's $8.3bn, driven by much stronger product revenue from direct SOFC sales. Product revenue reached $9.4bn (+215% YoY), topping the $6.8bn estimate.Assuming ASP fell ~5% YoY, implied shipments were ~308MW (+232% YoY). Robust deliveries eased concerns around capacity ramp execution and potential order cancellations.2) GPM: scale benefits continued to unlock, with steady margin expansion.GP was $3.6bn, with GPM up 340bps QoQ to 33.4%, mainly on scale from the volume ramp. Product GPM rose 220bps QoQ to 36.5%. This was the key driver of the overall margin beat.3) OP: top-line and GP upside drove a sharp step-up.Stronger SOFC shipments drove revenue and GP to beat, which in turn lifted OP and NP materially. OP reached $1.8bn, with OPM up 750bps YoY to 18.4%.4) FY guide: raised again, momentum remains strong.Following strong Q2 deliveries, the company raised its FY26 outlook again, reflecting continued momentum. Guidance was lifted across revenue, shipments, and profitability.Total revenue guidance increased to $3.9-4.2bn (+93%-108% YoY). Implied SOFC product shipments are ~1.14-1.25GW, with H2 at ~606-716MW, above the prior full-year guide of ~0.9-1.0GW.Non-GAAP OP was raised to $0.8-0.9bn; implied H2 Non-GAAP OP is $430-530mn, for OPM of 20.7%-22.3% (vs. 22.5% this quarter). With shipments still set to rise QoQ in H2, OPM should remain elevated, underscoring ongoing profitability improvement. $Bloom Energy(BE.US)"
datetime: "2026-07-28T23:59:00.000Z"
locales:
  - [en](https://longbridge.com/en/topics/43012415.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/43012415.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/43012415.md)
author: "[Dolphin Research](https://longbridge.com/en/news/dolphin.md)"
---

# Bloom Energy 2Q26 First Take: the company delivere…


### Related Stocks

- [BE.US](https://longbridge.com/en/quote/BE.US.md)

## Comments (4)

- **puppy · 2026-07-29T14:25:19.000Z**: It went down again hahahaha tears in my eyes
- **正在缓冲 · 2026-07-29T00:15:07.000Z**: Finally 🥹
  - **Dolphin Research** (2026-07-29T00:21:21.000Z): Worth celebrating