Bloom Energy NYSE:BE, which makes solid oxide fuel cells that supply onsite power to data centers, rose 9.85% premarket after reporting second-quarter revenue of $1.065 billion, up 166% from a year earlier and the first quarter above $1 billion in company history. Non-GAAP earnings came to $0.78 a share against the $0.41 analysts expected, on revenue that cleared an $826 million consensus.
Product revenue rose 215% to $935.4 million. GAAP gross margin widened 668 basis points to 33.4%, and operating income swung to $182.2 million from a $3.5 million loss a year earlier. Free cash flow came in at $174.8 million against an outflow of $220.3 million in the same quarter last year. Adjusted EBITDA reached $253.4 million, while cash stood at $2.67 billion.
Bloom raised full-year revenue guidance to $3.9 billion to $4.2 billion, about 100% growth at the midpoint, alongside non-GAAP operating income of $800 million to $900 million and non-GAAP EPS of $2.55 to $2.85. "Bloom is now a standard for AI onsite power," said founder and CEO KR Sridhar, who said every major U.S. hyperscaler and more than a dozen neoclouds, AI labs and colocation operators have approved its systems.