Form 8-K

8-K — Bloom Energy Corp

Accession: 0001628280-26-066890

Filed: 2026-10-22

Period: 2026-10-22

CIK: 0001664703

SIC: 3620 (ELECTRICAL INDUSTRIAL APPARATUS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — be-20261022.htm (Primary)

EX-99.1 (ex991_q326financialresults.htm)

EX-99.2 (ex992_q32026supplemental.htm)

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8-K

8-K (Primary)

Filename: be-20261022.htm · Sequence: 1

be-20261022

0001664703FALSEOctober 22, 202600016647032026-10-222026-10-22

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________________________________

FORM 8-K

______________________

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): October 22, 2026

___________________________________________

BLOOM ENERGY CORPORATION

(Exact name of registrant as specified in its charter)

001-38598

(Commission File Number)

___________________________________________

Delaware 77-0565408

(State or other jurisdiction of incorporation) (I.R.S. Employer Identification No.)

4353 North First Street, San Jose, California 95134

(Address of principal executive offices) (Zip Code)

408 543-1500

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

___________________________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange

on which registered

Common Stock, $0.0001 par value BE New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02. Results of Operations and Financial Condition.

On October 22, 2026, Bloom Energy Corporation (the “Company”) announced its financial results for the third quarter ended September 30, 2026, and issued a press release, a copy of which is furnished as Exhibit 99.1 to this Current Report on Form 8-K (“Form 8-K”) and is incorporated herein by reference.

The information furnished pursuant to Item 2.02 of this Form 8-K, including the accompanying Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.

Item 7.01. Regulation FD Disclosure.

A slide presentation to be used by senior management of the Company in connection with its discussions with investors and others regarding the financial results is furnished as Exhibit 99.2.

The information furnished pursuant to Item 7.01 of this Form 8-K, including the accompanying Exhibit 99.2, shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No. Description

99.1

Press release of Bloom Energy Corporation, dated October 22, 2026, reporting Bloom Energy Corporation’s financial results for the third quarter of 2026

99.2

Investor Presentation

104 Cover page interactive data file (embedded within the inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

BLOOM ENERGY CORPORATION

Date: October 22, 2026 By: /s/ Simon Edwards

Simon Edwards

Chief Financial Officer

(Principal Financial Officer)

EX-99.1

Filename: ex991_q326financialresults.htm · Sequence: 2

Document

PRESS RELEASE

Bloom Energy Reports Record Third Quarter 2026 Financial Results and Raises Full Year 2026 Guidance

•Achieved record quarterly revenue of $1,235.8 million, delivering 138.1% year-over-year growth

•Raises full year 2026 revenue guidance to $4.4 billion - $4.6 billion, representing 122% year-over-year growth at the midpoint

•Added to the S&P 500, marking an important milestone for Bloom Energy as a public company

SAN JOSE, Calif., October 22, 2026—Bloom Energy Corporation (NYSE: BE) (“Bloom,” “Bloom Energy,” “We,” or the “Company”) today reported its financial results for the third quarter ended September 30, 2026.

Third Quarter 2026 Highlights

All comparisons are to the third quarter of 2025.

•Revenue of $1,235.8 million increased 138.1%. Product revenue of $1,073.6 million increased 179.4%.

•Gross margin of 33.8% increased 453 basis points. Non-GAAP gross margin of 34.5% increased 412 basis points.

•Operating income of $225.4 million increased $217.6 million. Non-GAAP operating income of $285.7 million increased $239.4 million.

•EPS of $0.78 increased $0.88. Non-GAAP EPS of $0.94 increased $0.79.

KR Sridhar, Founder, Chairman and Chief Executive Officer of Bloom Energy, said, “Electricity is the foundation of economic growth, human well-being and national competitiveness. Today, the world is moving from a century-old model of centralized power to a new architecture that includes firm, distributed onsite generation. Bloom is leading that transformation. What began with hyperscalers is rapidly moving across market segments because every business needs reliable power to grow. We are building the electricity platform for the digital era: power where it is needed, when it is needed, clean and always on.”

Simon Edwards, Chief Financial Officer of Bloom Energy, added, “Our third quarter results reflect strong execution across the business, with significant revenue growth and expanded operating margins. We continue to invest with discipline to build the capabilities and capacity needed to scale the business. Our year-to-date performance and customer demand give us confidence to raise our 2026 outlook for the third time this year.”

Summary of Key Financial Metrics

Summary of GAAP Financial Information

($000), except EPS data

Q3'26

Q2'26

Q3'25

Revenue

1,235,837

1,065,365

519,048

Cost of Revenue

818,733

709,793

367,373

Gross Profit

417,104

355,572

151,675

Gross Margin

33.8

33.4

29.2

Operating Expenses

191,655

173,335

143,829

Operating Income

225,449

182,237

7,846

Operating Margin

18.2%

17.1%

1.5%

Non-operating (Income) Expenses

(24,822)

(14,053)

30,939

Net Profit (Loss) to Common Stockholders

250,271

196,290

(23,093)

GAAP EPS, Basic

0.85

0.68

(0.10)

GAAP EPS, Diluted

0.78

0.62

(0.10)

Summary of Non-GAAP Financial Information1

($000), except EPS data

Q3'26

Q2'26

Q3'25

Revenue

1,235,837

1,065,365

519,048

Cost of Revenue

809,621

700,002

361,410

Gross Profit

426,216

365,363

157,637

Gross Margin

34.5

34.3

30.4

Operating Expenses

140,525

125,721

111,389

Operating Income

285,691

239,642

46,249

Operating Margin

23.1%

22.5%

8.9%

Adjusted EBITDA

299,496

253,388

59,049

Non-GAAP EPS, Basic

1.03

0.86

0.15

Non-GAAP EPS, Diluted

0.94

0.78

0.15

1.A detailed reconciliation of GAAP to Non-GAAP financial measures is provided at the end of this press release

Guidance

Bloom Energy is increasing its financial guidance for full-year 2026 as follows:

•Revenue:

$4.4B - $4.6B

•Non-GAAP Gross Margin:

~34%

•Non-GAAP Operating Income:

$960M - $1,030M

•Non-GAAP EPS:

$3.10 - $3.40

Investor Conference Call/ Webcast Details

Bloom Energy will host a conference call today, October 22, 2026, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss its financial results. To participate in the live call, analysts and investors may call toll-free dial-in number: +1 833-461-5787 and toll-dial-in-number +1 585 542 9983. The conference ID is 713 024 124. A simultaneous live webcast will also be available under the Investor Relations section on our website at https://investor.bloomenergy.com. Following the webcast, an archived version will be available on Bloom Energy’s website for one year. A telephonic replay of the conference call will be available for one week following the call, by dialing +1 833 309 1852 or +1 929 828 5978 and entering passcode 713 024 124.

Additional Information and Where to Find It

The Investor Relations section of Bloom Energy’s website at investor.bloomenergy.com contains a significant amount of information about Bloom Energy, including financial and other information for investors. Bloom Energy encourages investors to visit this website from time to time, as information is updated and new information is posted. The information contained on, or that may be accessed through Bloom Energy’s website is not incorporated by reference into, and is not part of, this press release.

Forward-Looking Statements

This press release contains certain forward-looking statements relating to future events and expectations, including with respect to changes in the architecture to provide electricity to users, movement towards distributed onsite generation, building the electricity platform in an evolving marketplace, source of funding for investments to be made, and projections for our business outlook for the 2026 fiscal year, each of which is based on current expectations, estimates, and projections about our industry, management’s beliefs, and certain assumptions made by management based on information currently available to management at the time they are made. These forward-looking statements are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and relate to the Company’s performance on a going forward basis.

Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual results, performance, and/or trends. In addition to general industry and global economic conditions, factors that could cause actual results, performance, and/or trends to differ materially from those discussed in the forward-looking statements made in this press release include, but are not limited to: (1) the emerging nature of distributed energy generation and rapidly evolving market trends; (2) the significant upfront costs of Bloom Energy’s Energy Servers and Bloom Energy’s ability to secure financing for its products; (3) Bloom Energy’s ability to drive cost reductions and to successfully mitigate against potential price increases; (4) Bloom Energy’s ability to service its existing debt obligations; (5) Bloom Energy’s ability to be successful in new markets; (6) the risk of manufacturing defects; (7) the accuracy of Bloom Energy’s estimates regarding the useful life of its Energy Servers, (8)

delays in the development and introduction of new products or updates to existing products; (9) supply constraints; (10) the availability of rebates, tax credits and other tax benefits; (11) the impact of the Inflation Reduction Act of 2022 and the One Big Beautiful Bill Act; (12) changes in the regulatory landscape; (13) Bloom Energy’s lengthy sales and installation cycle, construction, utility interconnection and other delays related to the installation of its Energy Servers; (14) evolution of Bloom’s approach to installation to a consult only model particularly for large load sites; (15) business and economic conditions and growth trends in commercial and industrial energy markets; (16) trade policies including tariffs; (17) the overall electricity generation market; (18) our ability to increase production capacity for our products in a timely and cost-effective manner; (19) any actual or perceived slowdown in the adoption of AI resulting in a slower expansion of AI data centers; (20) the availability of financing for data center developments, (21) air permitting delays which affect the ability to finance the use of Energy Servers for customers, (22) Bloom Energy’s ability to protect its intellectual property; (23) the ability of current product and service backlog to ultimately be recognizable as revenue; (24) commodity price volatility; (25) inflationary pressures and/or (26) the risks relating to forward-looking statements and other “Risk Factors” identified from time to time in our filings with the Securities and Exchange Commission (the “SEC”), including our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and subsequently filed reports, including on Form 10-Q, which filings are available from the SEC. Bloom Energy assumes no obligation to, and does not currently intend to, update information contained in these forward-looking statements, whether as a result of new information, future events or developments, or otherwise.

Use of Non-GAAP Financial Measures

This press release includes certain non-GAAP financial measures as defined in the SEC rules. These non-GAAP financial measures are in addition to, and not a substitute for or superior to, measures of financial performance prepared in accordance with U.S. GAAP. Some numbers may not foot due to rounding. There are a number of limitations related to the use of these non-GAAP financial measures versus their nearest GAAP equivalents. For example, other companies may calculate non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. As required by Regulation G, we have provided reconciliations of our non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures set forth in this press release. Bloom Energy urges you to review the reconciliations of its non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures set forth in this press release, and not to rely on any single financial measure to evaluate our business. With respect to Bloom Energy’s expectations regarding its 2026 outlook, Bloom Energy is not able to provide a quantitative reconciliation of non-GAAP gross margin, non-GAAP operating income, and non-GAAP EPS measures to the corresponding GAAP measures without unreasonable efforts due to the uncertainty regarding, and the potential variability of, reconciling items such as stock-based compensation expense. The variability of these items could significantly impact our future U.S. GAAP financial results and we believe that any reconciliation provided would imply a degree of precision that could be confusing or misleading to investors.

About Bloom Energy

Bloom Energy empowers enterprises to meet soaring energy demands and responsibly take charge of their power needs. The company’s solid oxide fuel cell systems provide ultra-resilient, highly scalable onsite electricity for Fortune 500 customers around the world, including data centers, semiconductor manufacturing, large utilities, and other commercial and industrial sectors as well as mission-critical organizations in local communities, such as hospitals, college campuses and retailers. Headquartered in Silicon Valley, Bloom Energy employs more than 2,000 people worldwide and manufactures its systems in the United States. For more information, visit BloomEnergy.com.

Investor Relations:

Michael Tierney

Bloom Energy

investor@bloomenergy.com

Media:

Katja Gagen

Bloom Energy

press@bloomenergy.com

Condensed Consolidated Balance Sheets*

(in thousands, except share data)

September 30,

December 31,

2026

2025

Assets

Current assets:

Cash and cash equivalents1

2,486,702

2,454,108

Restricted cash

852

1,973

Accounts receivable, less allowance for credit losses of $2,998 and $460 as of September 30, 2026 and December 31, 2025, respectively1

634,743

371,796

Contract assets

792,833

178,928

Inventories1

927,670

643,306

Deferred cost of revenue

95,743

30,651

Customer consideration asset

90,967

—

Prepaid expenses and other current assets1

178,244

49,805

Total current assets

5,207,754

3,730,567

Property, plant and equipment, net1

539,726

398,507

Investments in unconsolidated affiliates

28,236

10,037

Operating lease right-of-use assets1

99,947

108,541

Restricted cash

20,592

25,499

Contract assets

65,813

62,258

Deferred cost of revenue

21,867

4,099

Customer consideration asset

215,533

—

Other long-term assets1

372,115

57,203

Total assets

6,571,583

4,396,711

Liabilities and stockholders’ equity

Current liabilities:

Accounts payable1

493,033

203,129

Accrued warranty

70,267

20,013

Accrued expenses and other current liabilities1

479,782

222,254

Deferred revenue and customer deposits

278,985

100,975

Operating lease liabilities1

24,022

22,000

Financing obligations

42,783

51,308

Non-recourse debt1

2,950

4,153

Total current liabilities

1,391,822

623,832

Deferred revenue and customer deposits

475,395

42,840

Operating lease liabilities1

96,509

106,935

Financing obligations

142,212

192,460

September 30,

December 31,

2026

2025

Recourse debt

2,473,499

2,613,726

Deferred profit in transactions with unconsolidated affiliates

20,062

13,928

Other long-term liabilities

8,974

10,027

Total liabilities

4,608,473

3,603,748

Commitments and contingencies

Stockholders’ equity:

Common stock: 0.0001 par value; 600,000,000 shares authorized, and 295,537,217 shares and 280,045,459 shares issued and outstanding, at September 30, 2026 and December 31, 2025, respectively2

Additional paid-in capital

5,403,998

4,755,965

Accumulated other comprehensive loss

(457)

(369)

Accumulated deficit

(3,470,694)

(3,986,983)

Total stockholders’ equity attributable to common stockholders

1,932,877

768,641

Noncontrolling interest

30,233

24,322

Total stockholders’ equity

1,963,110

792,963

Total liabilities and stockholders’ equity

6,571,583

4,396,711

1 We have a variable interest entity related to a joint venture in the Republic of Korea, which represents a portion of the consolidated balances recorded within these financial statement line items.

2 On May 27, 2026, the Company filed with the Delaware Secretary of State a Certificate of Second Amendment to its Restated Certificate of Incorporation which (among other things) renamed its Class A common stock as common stock and eliminated outdated references to Class B common stock. Prior to such amendment, the Company had 470,092,742 shares of Class B common stock authorized, but as of December 31, 2025, no such shares were issued or outstanding.

Condensed Consolidated Statements of Operations*

(in thousands, except per share data)

Three Months

Ended September

30, 2026

Three Months

Ended June

30, 2026

Three Months

Ended September

30, 2025

Revenue:

Product

1,073,610

935,413

384,314

Installation

84,855

50,978

65,773

Service

67,557

69,023

58,607

Electricity

9,815

9,951

10,354

Total revenue

1,235,837

1,065,365

519,048

Cost of revenue:

Product

666,978

593,957

249,794

Installation

88,954

52,829

59,921

Service

55,508

56,148

51,834

Electricity

7,293

6,859

5,824

Total cost of revenue

818,733

709,793

367,373

Gross profit

417,104

355,572

151,675

Operating expenses:

Research and development

64,146

58,873

48,724

Sales and marketing

52,409

43,045

41,995

General and administrative

75,100

71,417

53,110

Total operating expenses

191,655

173,335

143,829

Income from operations

225,449

182,237

7,846

Interest income

22,129

20,881

5,292

Interest expense

(7,525)

(8,906)

(14,390)

Equity in (loss) earnings of unconsolidated affiliates

(2,897)

4,346

(19,599)

Other income (expense), net

12,627

2,307

(1,362)

Gain (loss) on revaluation of embedded derivatives

(539)

(411)

Profit (loss) before income taxes

249,793

200,326

(22,624)

Income tax provision

817

1,470

336

Net profit (loss)

248,976

198,856

(22,960)

Less: Net (loss) income attributable to noncontrolling interest

(1,295)

2,566

133

Net income (loss) attributable to common stockholders

250,271

196,290

(23,093)

Net earnings (loss) per share available to common stockholders:

Basic

0.85

0.68

(0.10)

Diluted

0.78

0.62

(0.10)

Weighted average shares used to compute net earnings (loss) per share available to common stockholders:

Basic

294,757

287,288

234,931

Diluted

324,289

323,331

234,931

Condensed Consolidated Statement of Cash Flows*

(in thousands)

Three Months

Ended September

30, 2026

Three Months

Ended June

30, 2026

Three Months

Ended September

30, 2025

Cash flows from operating activities:

Net income (loss)

248,976

198,856

(22,960)

Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:

Depreciation and amortization

13,805

13,746

12,800

Non-cash lease expense

9,862

8,024

8,057

Equity in loss (earnings) of unconsolidated affiliates, net of distributions

2,897

(4,346)

19,599

Stock-based compensation expense

57,209

52,217

37,255

Amortization of debt issuance costs

3,180

3,372

1,814

Net gain on failed sale-and-leaseback transactions

(9,400)

(4,122)

—

Share-based consideration payable to customer’s customer

(520)

5,012

—

Allowance for credit losses

—

3,080

340

Inventory reserve and assets impairment

3,143

—

21,846

Unrealized foreign currency exchange (gain) loss

(1,083)

(353)

2,703

Other12

792

869

407

Changes in operating assets and liabilities:

Accounts receivable

(175,235)

(101,372)

54,223

Contract assets

(430,348)

(122,964)

(129,086)

Inventories

(170,401)

(26,473)

(36,562)

Deferred cost of revenue

(42,651)

(47,168)

4,310

Prepaid expenses and other current assets

3,894

(78,178)

(4,673)

Other long-term assets

(178,028)

(70,647)

902

Operating lease right-of-use assets and operating lease liabilities

(8,628)

(8,545)

(8,481)

Financing lease liabilities

214

166

206

Accounts payable

184,664

63,460

23,385

Accrued warranty

(7,530)

39,432

2,689

Accrued expenses and other current liabilities

158,758

90,758

50,309

Deferred revenue and customer deposits

309,333

211,693

(19,293)

Deferred profit with equity method investees and other long-term liabilities

(50)

(85)

(121)

Net cash (used in) provided by operating activities

(27,147)

226,432

19,669

Cash flows from investing activities:

Purchase of property, plant and equipment

(153,487)

(51,641)

(12,301)

Proceeds from sale of property, plant and equipment

—

Investments in unconsolidated affiliates

(3,781)

(2,948)

(24,570)

Net cash used in investing activities

(157,208)

(54,553)

(36,871)

Cash flows from financing activities:

Repayment of debt

—

(1,347)

—

Repayment of financing obligations

(5,379)

(3,844)

(2,939)

Proceeds from issuance of common stock

10,782

7,324

42,354

Dividend paid

—

(925)

—

Other

(37)

—

Net cash provided by financing activities

5,366

1,226

39,415

Three Months

Ended September

30, 2026

Three Months

Ended June

30, 2026

Three Months

Ended September

30, 2025

Effect of exchange rate changes on cash, cash equivalents, and restricted cash

(1,373)

(2,881)

(1,245)

Net (decrease) increase in cash, cash equivalents, and restricted cash

(180,362)

170,224

20,968

Cash, cash equivalents, and restricted cash:

Beginning of period

2,688,508

2,518,284

606,047

End of period

2,508,146

2,688,508

627,015

* These preliminary results are not a comprehensive statement of the Company’s financial results and should not be viewed as a substitute for full financial statements prepared in accordance with GAAP.

Reconciliation of GAAP to Non-GAAP Financial Measures

(unaudited)

(in thousands, except percentages)

Q3'26

Q2'26

Q3'25

GAAP revenue

1,235,837

1,065,365

519,048

GAAP cost of revenue

818,733

709,793

367,373

GAAP gross profit

417,104

355,572

151,675

Non-GAAP adjustments:

Stock-based compensation expense

9,048

9,675

5,719

Restructuring

—

Other

116

213

Non-GAAP gross profit

426,216

365,363

157,637

GAAP gross margin %

33.8

33.4

29.2

Non-GAAP adjustments

0.7

0.9

1.1

Non-GAAP gross margin %

34.5

34.3

30.4

Q3'26

Q2'26

Q3'25

GAAP operating income

225,449

182,237

7,846

Non-GAAP adjustments:

Stock-based compensation expense

60,109

56,402

38,153

Restructuring

848

—

Other

101

153

250

Non-GAAP operating income

285,691

239,642

46,249

GAAP operating margin %

18.2

17.1

1.5

Non-GAAP adjustments

4.9

5.4

7.4

Non-GAAP operating margin %

23.1

22.5

8.9

Reconciliation of GAAP Net Income (Loss) to non-GAAP Net Profit and Computation of non-GAAP Net Earnings per Share (EPS)

(unaudited)

(in thousands, except share data)

Q3'26

Q2'26

Q3'25

Net Income (loss) to Common Stockholders

250,271

196,290

(23,093)

Non-GAAP adjustments:

Add back: Net (loss) income attributable to noncontrolling interest

(1,295)

2,566

133

Stock-based compensation expense

60,109

56,402

38,153

Equity in loss (earnings) of unconsolidated affiliates

2,897

(4,346)

19,599

Effect of Assets Buyout and Repowering

(9,279)

(4,243)

—

Restructuring

848

—

(Gain) loss on derivative liabilities

(10)

539

411

Other

101

153

250

Adjusted Net Profit

302,828

248,209

35,453

Adjusted net earnings per share (EPS), Basic

1.03

0.86

0.15

Adjusted net earnings per share (EPS), Diluted

0.94

0.78

0.15

Weighted average shares outstanding attributable to common stockholders, Basic

294,757

287,288

234,931

Weighted-average shares outstanding attributable to common stockholders, Diluted

324,289

323,331

312,479

Reconciliation of GAAP Net Income (Loss) to Adjusted EBITDA

(unaudited)

(in thousands)

Q3'26

Q2'26

Q3'25

Net Income (loss) to Common Stockholders

250,271

196,290

(23,093)

Add back: Net (loss) income attributable to noncontrolling interest

(1,295)

2,566

133

Stock-based compensation expense

60,109

56,402

38,153

Equity in loss (earnings) of unconsolidated affiliates

2,897

(4,346)

19,599

Effect of Assets Buyout and Repowering

(9,279)

(4,243)

—

Restructuring

848

—

(Gain) loss on derivative liabilities

(10)

539

411

Other

101

153

250

Adjusted Net Profit

302,828

248,209

35,453

Depreciation & amortization

13,805

13,746

12,800

Income tax provision

817

1,470

336

Interest expense, Other (income) expense, net

(17,952)

(10,039)

10,460

Adjusted EBITDA

299,496

253,388

59,049

Reconciliation of GAAP to non-GAAP Gross Profit (Loss) and Margin

(unaudited)

(in thousands, except percentages)

Q3'26

Revenue

GAAP gross profit (loss)

Stock-based compensation expense

Other Non-GAAP adj.

Non-GAAP gross profit (loss)

GAAP Gross Margin

Non-GAAP gross margin %

Product

1,073,610

406,632

5,579

412,213

37.9

38.4

Install

84,855

(4,099)

1,095

—

(3,004)

(4.8)

(3.5)

Service

67,557

12,049

2,374

14,486

17.8

21.4

Electricity

9,815

2,522

—

2,522

25.7

Total

1,235,837

417,104

9,048

426,216

33.8

34.5

Q2'26

Revenue

GAAP gross profit (loss)

Stock-based compensation expense

Other Non-GAAP adj.

Non-GAAP gross profit (loss)

GAAP Gross Margin

Non-GAAP gross margin %

Product

935,413

341,456

6,388

—

347,844

36.5

37.2

Install

50,978

(1,851)

1,118

(732)

(3.6)

(1.4)

Service

69,023

12,875

2,169

116

15,160

18.7

22.0

Electricity

9,951

3,092

—

(1)

3,091

31.1

Total

1,065,365

355,572

9,675

116

365,363

33.4

34.3

Q3'25

Revenue

GAAP gross profit

Stock-based compensation expense

Other Non-GAAP adj.

Non-GAAP gross profit

GAAP Gross Margin

Non-GAAP gross margin %

Product

384,314

134,520

3,490

138,040

35.0

35.9

Install

65,773

5,852

752

6,605

8.9

10.0

Service

58,607

6,773

1,477

213

8,463

11.6

14.4

Electricity

10,354

4,530

—

4,530

43.8

Total

519,048

151,675

5,719

244

157,637

29.2

30.4

Use of non-GAAP financial measures

To supplement Bloom Energy condensed consolidated financial statement information presented on a GAAP basis, Bloom Energy provides financial measures including non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating income (non-GAAP earnings from operations), non-GAAP operating margin, non-GAAP net profit (non-GAAP net earnings), non-GAAP basic and diluted earnings per share and Adjusted EBITDA. Bloom Energy also provides forecasts of non-GAAP gross margin and non-GAAP operating margin.

These non-GAAP financial measures are not computed in accordance with, or as an alternative to, GAAP in the United States.

•The GAAP measure most directly comparable to non-GAAP gross profit is gross profit.

•The GAAP measure most directly comparable to non-GAAP gross margin is gross margin.

•The GAAP measure most directly comparable to non-GAAP service gross margin is service gross margin.

•The GAAP measure most directly comparable to non-GAAP operating income (non-GAAP earnings from operations) is operating income (earnings from operations).

•The GAAP measure most directly comparable to non-GAAP operating margin is operating margin.

•The GAAP measure most directly comparable to non-GAAP net profit (non-GAAP net earnings) is net income (loss) to common stockholders (net earnings (loss)).

•The GAAP measure most directly comparable to non-GAAP diluted earnings per share is diluted earnings per share.

•The GAAP measure most directly comparable to Adjusted EBITDA is net income (loss).

Reconciliations of each of these non-GAAP financial measures to GAAP information are included in the tables above or elsewhere in the materials accompanying this news release.

Use and economic substance of non-GAAP financial measures used by Bloom Energy

Non-GAAP gross profit and non-GAAP gross margin, including non-GAAP service gross margin, are defined to exclude charges relating to stock-based compensation expense, restructuring charges, and other charges. Non-GAAP net profit (non-GAAP net earnings) and non-GAAP diluted earnings per share consist of net income (loss) to common stockholders or diluted net income (loss) per share excluding charges relating to net (loss) income attributable to noncontrolling interest, charges relating to stock-based

compensation expense, equity in loss (earnings) of unconsolidated affiliates, effects of Assets Buyout and Repowering, restructuring charges, (gain) loss on derivative liabilities, loss on extinguishment of debt, and other charges. Adjusted EBITDA is defined as net income (loss) before interest income (expense), income tax provision, depreciation and amortization expense, net (loss) income attributable to noncontrolling interest, equity in loss (earnings) of unconsolidated affiliates, charges relating to stock-based compensation expense, restructuring charges, and other charges. Bloom Energy management uses these non-GAAP financial measures for purposes of evaluating Bloom Energy’s historical and prospective financial performance, as well as Bloom Energy’s performance relative to its competitors. Bloom Energy believes that excluding the items mentioned above from these non-GAAP financial measures allows Bloom Energy management to better understand Bloom Energy’s consolidated financial performance as management does not believe that the excluded items are reflective of ongoing operating results. More specifically, Bloom Energy management excludes each of those items mentioned above for the following reasons:

•Net (loss) income attributable to noncontrolling interest represents allocation to the noncontrolling interests under the hypothetical liquidation at book value (“HLBV”) method and is associated with the joint venture in the Republic of Korea and the ventures between Brookfield Asset Management and the Company.

•Stock-based compensation expense consists of equity awards granted based on the estimated fair value of those awards at grant date. Although stock-based compensation is a key incentive offered to our employees, Bloom Energy excludes these charges for the purpose of calculating these non-GAAP measures, primarily because they are non-cash expenses and such an exclusion facilitates a more meaningful evaluation of Bloom Energy current operating performance and comparisons to Bloom Energy operating performance in other periods.

•Equity-method investment adjustment—include (i) elimination of intra‑entity profit on sales to joint ventures formed with Brookfield Asset Management—deferred and recognized over the assets’ depreciable lives—and (ii) the Company’s equity pickup of those joint ventures’ net results under HLBV method. Equity-method investment adjustments are excluded from non-GAAP financial measures because these generally are non-cash, represent non-operating activity during the period of adjustment, relate to activity in entities outside of the operational control of the Company, and excluding such expense/gain provides meaningful supplemental information regarding core operations.

•(Gain) loss on derivatives liabilities represents non-cash adjustments to the fair value of the embedded derivatives.

•Restructuring charges are represented by severance expense and other costs.

•Effects of Assets Buyout and Repowering represents net gain on failed sale-and-leaseback transactions due to termination of multiple Managed Services sites, consisting of loss on impairment of related fixed assets offset against gain on extinguishment of debt as a result of derecognition of respective financing obligations adjusted by cash paid for assets buyback.

•Other represents site termination costs, amortization of acquired intangible assets, and sales property tax.

•Adjusted EBITDA is defined as Adjusted Net Profit before depreciation and amortization expense, income tax provision, interest income (expense), other (income) expense, net. We use Adjusted EBITDA to measure the operating performance of our business, excluding specifically identified items that we do not believe directly reflect our core operations and may not be indicative of our recurring operations.

For more information about these non-GAAP financial measures, please see the tables captioned “Reconciliation of GAAP to Non-GAAP Financial Measures,” “Reconciliation of GAAP Net Income (Loss) to non-GAAP Net Profit and Computation of non-GAAP Net Earnings per Share (EPS),” “Reconciliation of GAAP Net Income (Loss) to Adjusted EBITDA,” and “Reconciliation of GAAP to non-GAAP Gross Profit (Loss) and Margin” set forth in this release, which should be read together with the preceding financial statements prepared in accordance with GAAP.

Material limitations associated with use of non-GAAP financial measures

These non-GAAP financial measures have limitations as analytical tools, and these measures should not be considered in isolation or as a substitute for analysis of Bloom Energy results as reported under GAAP. Some of the limitations in relying on these non-GAAP financial measures are:

•Items such as stock-based compensation expense that is excluded from non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income (non-GAAP earnings from operations), non-GAAP operating margin, non-GAAP net profit (non-GAAP net earnings), and non-GAAP diluted earnings per share can have a material impact on the equivalent GAAP earnings measure.

•Income attributable to noncontrolling interest and (gain) loss on derivatives liabilities, though not directly affecting Bloom Energy’s cash position, represent the (gain) loss in value of certain assets and liabilities. The expense associated with this (gain) loss in value is excluded from non-GAAP net earnings, and non-GAAP diluted earnings per share and can have a material impact on the equivalent GAAP earnings measure.

•Other companies may calculate non-GAAP gross profit, non-GAAP gross profit margin, non-GAAP operating profit (non-GAAP earnings from operations), non-GAAP operating margin, non-GAAP service gross margin, non-GAAP net profit (non-GAAP net earnings), non-GAAP diluted earnings per share and Adjusted EBITDA differently than Bloom Energy does, limiting the usefulness of those measures for comparative purposes.

Compensation for limitations associated with use of non-GAAP financial measures

Bloom Energy compensates for the limitations on its use of non-GAAP financial measures by relying primarily on its GAAP results and using non-GAAP financial measures only as a supplement. Bloom Energy also provides a reconciliation of each non-GAAP financial measure to its most directly comparable GAAP measure within this press release and in other written materials that include these non-GAAP financial measures, and Bloom Energy encourages investors to review those reconciliations carefully.

Usefulness of non-GAAP financial measures to investors

Bloom Energy believes that providing financial measures including non-GAAP gross profit, non-GAAP gross margin, non-GAAP service gross margin, non-GAAP operating income (non-GAAP earnings from operations), non-GAAP operating margin, non-GAAP net profit (non-GAAP net earnings), non-GAAP diluted earnings per share in addition to the related GAAP measures provides investors with greater transparency to the information used by Bloom Energy management in its financial and operational decision making and allows investors to see Bloom Energy’s results “through the eyes” of management. Bloom Energy further believes that providing this information better enables Bloom Energy investors to understand Bloom Energy’s operating performance and to evaluate the efficacy of the methodology and information used by Bloom Energy management to evaluate and measure such performance. Disclosure of these non-GAAP financial measures also facilitates comparisons of Bloom Energy’s operating

performance with the performance of other companies in Bloom Energy’s industry that supplement their GAAP results with non-GAAP financial measures that may be calculated in a similar manner.

EX-99.2

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ex992_q32026supplemental

October 22, 2026

2Bloom Energy Proprietary & Confidential Forward-looking Statements and Non-GAAP Financial Measures This presentation may contain certain forward-looking statements relating to future events and expectations, including estimates and projections for our business outlook for the 2026 fiscal year, each of which is based on current expectations, estimates, and projections about our industry, management’s beliefs, and certain assumptions made by management based on information currently available to management at the time they are made. These forward-looking statements are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and relate to the Company’s performance on a going forward basis. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual results, performance, and/or trends. In addition to general industry and global economic conditions, factors that could cause actual results, performance, and/or trends to differ materially from those discussed in the forward-looking statements made in this presentation include, but are not limited to: (1) the emerging nature of distributed energy generation and rapidly evolving market trends; (2) the significant upfront costs of Bloom Energy’s Energy Servers and Bloom Energy’s ability to secure financing for its products; (3) Bloom Energy’s ability to drive cost reductions and to successfully mitigate against potential price increases; (4) Bloom Energy’s ability to service its existing debt obligations; (5) Bloom Energy’s ability to be successful in new markets; (6) the risk of manufacturing defects; (7) the accuracy of Bloom Energy’s estimates regarding the useful life of its Energy Servers, (8) delays in the development and introduction of new products or updates to existing products; (9) supply constraints; (10) the availability of rebates, tax credits and other tax benefits; (11) the impact of the Inflation Reduction Act of 2022 and the One Big Beautiful Bill Act; (12) changes in the regulatory landscape; (13) Bloom Energy’s lengthy sales and installation cycle, construction, utility interconnection and other delays related to the installation of its Energy Servers; (14) evolution of Bloom’s approach to installation to a consult only model particularly for large load sites; (15) business and economic conditions and growth trends in commercial and industrial energy markets; (16) trade policies including tariffs; (17) the overall electricity generation market; (18) our ability to increase production capacity for our products in a timely and cost-effective manner; (19) any actual or perceived slowdown in the adoption of AI resulting in a slower expansion of AI data centers; (20) the availability of financing for data center developments, (21) air permitting delays which affect the ability to finance the use of Energy Servers for customers, (22) Bloom Energy’s ability to protect its intellectual property; (23) the ability of current product and service backlog to ultimately be recognizable as revenue; (24) commodity price volatility; (25) inflationary pressures and/or (26) the risks relating to forward-looking statements and other “Risk Factors” identified from time to time in our filings with the Securities Exchange Commission (the “SEC”), including our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, and subsequently filed reports, including on Form 10-Q, which filings are available from the SEC. Bloom Energy assumes no obligation to, and does not currently intend to, update information contained in these forward-looking statements, whether as a result of new information, future events or developments, or otherwise. Please see GAAP to non-GAAP reconciliations at the end of this presentation. Refer to “Use of non-GAAP financial measures” in our earnings release for Q3'26 available under the Investor Relations section of our website at https://investor.bloomenergy.com. The Investor Relations section contains a significant amount of information about Bloom Energy, including financial and other information for investors. Bloom Energy encourages investors to visit this website from time to time, as information is updated and new information is posted. The information contained on, or that may be accessed through Bloom Energy's website is not incorporated by reference into, and it not part of, this presentation.

3Bloom Energy Proprietary & Confidential To Make Clean, Reliable Energy Affordable for Everyone in the World. Bloom’s Mission

4Bloom Energy Proprietary & Confidential Financial Performance Note: Dollars in millions, except per share figures and YoY information 1. Please reference appendix for GAAP to Non-GAAP reconciliations YoYQ3’25Q3’26$ in millions 138%$519.0 $1,235.8Revenue 4.1 pts30.4%34.5%Non-GAAP Gross Margin1 ~↑ 6x$46.2 $285.7Non-GAAP Operating Income1 ~↑ 5x$59.0 $299.5Adjusted EBITDA1 ~↑ 6x$0.15$0.94Non-GAAP EPS1

5Bloom Energy Proprietary & Confidential Raising 2026 Financial Guidance YoY2026 GuidanceMetric 122%1$4.4B - $4.6BRevenue ~374 bps~34%Non-GAAP Gross Margin2 ~↑ 4.5x1$960M - $1,030MNon-GAAP Operating Income2 ~↑ 4.3x1$3.10 - $3.40Non-GAAP EPS2 1. YoY change based on midpoint of range. EPS is fully dilutive. 2. With respect to Bloom’s expectations regarding its 2026 Guidance, Bloom Energy is not able to provide a quantitative reconciliation of non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, and non-GAAP EPS measures to the corresponding GAAP measures without unreasonable efforts due to the uncertainty regarding, and the potential variability of, reconciling items such as stock-based compensation expense.

6Bloom Energy Proprietary & Confidential 2026 Guidance: Revenue Growth >120% 1, Gross Margin % +~374 bps Growing Revenue and Expanding Margins Revenue ($ in billions) 2021 22 23 24 25 2026E Non-GAAP Gross Margin2 24 2021 2026E 22 23 25 $1.0 $1.2 $1.3 $1.5 $2.0 $4.4B - $4.6B 22% 23% 26% 29% 30% 34% 1. YoY change based on midpoint of range 2. Please reference appendix for GAAP to Non-GAAP reconciliations for 2025 and prior. With respect to Bloom’s expectations regarding its 2026 Guidance, Bloom Energy is not able to provide a quantitative reconciliation of non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income, and non-GAAP EPS measures to the corresponding GAAP measures without unreasonable efforts due to the uncertainty regarding, and the potential variability of, reconciling items such as stock-based compensation expense.

7Bloom Energy Proprietary & Confidential $(38) $(33) $19 $108 $221 $960- $1,030 Demonstrating Operating Leverage Non-GAAP Operating Expenses as % of Revenue1 2021 22 23 24 25 2026E Non-GAAP Operating Income1 24 2021 2026E 22 23 25 26% 26% 24% 21% 19% 12% 1. Please reference appendix for GAAP to Non-GAAP reconciliations for 2025 and prior. With respect to Bloom’s expectations regarding its 2026 Guidance, Bloom Energy is not able to provide a quantitative reconciliation of non-GAAP gross margin, non-GAAP Operating Expenses, non-GAAP operating income, and non-GAAP EPS measures to the corresponding GAAP measures without unreasonable efforts due to the uncertainty regarding, and the potential variability of, reconciling items such as stock-based compensation expense. Non-GAAP Operating Expenses as % of revenue figure reflects midpoint of the guidance range

Q3 2026

9Bloom Energy Proprietary & Confidential GAAP to Non-GAAP Reconciliation: Gross Profit and Margin Q3’25Q3’26$ in millions $519.0$1,235.8GAAP revenue 367.4818.7GAAP cost of sales $151.7$417.1GAAP gross profit Non-GAAP adjustments: 5.79.0Stock-based compensation expense 0.0-Restructuring 0.20.1Other $157.6$426.2Non-GAAP gross profit 29.2%33.8%GAAP gross margin 1.1%0.7%Non-GAAP adjustments 30.4%34.5%Non-GAAP gross margin

10Bloom Energy Proprietary & Confidential GAAP to Non-GAAP Reconciliation: Operating Income and Margin Q3’25Q3’26$ in millions $7.8$225.4GAAP operating income Non-GAAP adjustments: 38.260.1Stock-based compensation expense 0.00.0Restructuring 0.20.1Other $46.2$285.7Non-GAAP operating income 1.5%18.2%GAAP operating margin 7.4%4.9%Non-GAAP adjustments 8.9%23.1%Non-GAAP operating margin

11Bloom Energy Proprietary & Confidential GAAP to Non-GAAP Reconciliation: Gross Profit and Margin 20212022202320242025$ in millions $972.2$1,199.1$1,333.5$1,473.9$2,024.0GAAP revenue 774.61,050.81,135.71,069.21,436.6GAAP cost of sales $197.6$148.3$197.8$404.6$587.4GAAP gross profit Non-GAAP adjustments: 13.819.017.516.624.1Stock-based compensation expense --3.4(0.4)0.2Restructuring -108.8123.7--Impairment of assets --1.62.00.7Other $211.4$276.1$344.0$422.8$612.4Non-GAAP gross profit 20.3%12.4%14.8%27.5%29.0%GAAP gross margin 1.4%10.7%11.0%1.2%1.2%Non-GAAP adjustments 21.7%23.0%25.8%28.7%30.3%Non-GAAP gross margin

12Bloom Energy Proprietary & Confidential GAAP to Non-GAAP Reconciliation: Non-GAAP Operating Expenses as % of Revenue 20212022202320242025$ in millions $312.1$409.3$406.7$381.7$514.6GAAP operating expenses Non-GAAP adjustments: 62.395.069.666.4120.9Stock-based compensation expense --5.7(0.0)2.1Restructuring -4.86.60.10.1Other $249.8$309.5$324.8$315.2$391.4Non-GAAP operating expenses $972.2$1,199.1$1,333.5$1,473.9$2,024.0GAAP Revenue 25.7%25.8%24.4%21.4%19.3%Non-GAAP operating expenses as % of Revenue

13Bloom Energy Proprietary & Confidential GAAP to Non-GAAP Reconciliation: Operating Income (Loss) and Margin 20212022202320242025$ in millions ($114.5)($261.0)($208.9)$22.9$72.8GAAP operating income (loss) Non-GAAP adjustments: 76.1114.087.183.0145.0Stock-based compensation expense --9.2(0.4)2.4Restructuring -113.3130.1--Impairment of assets 0.00.21.72.10.8Other ($38.4)($33.5)$19.2$107.6$221.0Non-GAAP operating income (loss) (11.8%)(21.8%)(15.7%)1.6%3.6%GAAP operating margin 7.8%19.0%17.1%5.7%7.3%Non-GAAP adjustments (3.9%)(2.8%)1.4%7.3%10.9%Non-GAAP operating margin

14Bloom Energy Proprietary & Confidential GAAP to Non-GAAP Reconciliation: Net Income (Loss) and EPS Dilutive earnings per share1 Q3’25Dilutive earnings per shareQ3’26$ in millions, except per share ($0.10)($23.1)$0.78$250.3GAAP net income (loss) to common stockholders Non-GAAP adjustments: 0.000.1(0.00)(1.3)Add back: (Loss)Income for non-controlling interests 0.000.4(0.00)(0.0)(Gain) loss on derivative liabilities 0.000.00.000.0Restructuring 0.0619.60.012.9Equity in loss of unconsolidated affiliates 0.1238.20.1960.1Stock-based compensation expense --(0.03)(9.3)Effect of Assets Buyout and Repowering 0.000.20.000.1Other $0.15$35.5$0.94$302.8Non-GAAP net income to common stockholders 1. The dilutive earnings per share does not foot due to difference in basis between GAAP and Non-GAAP. Refer slide #17 for details.

15Bloom Energy Proprietary & Confidential GAAP to Non-GAAP Reconciliation: Adjusted EBITDA Q3’25Q3’26 $ in millions ($23.1)$250.3GAAP net income (loss) to common stockholders Non-GAAP adjustments: 0.1(1.3)Add back: (Loss) Income for non-controlling interests 38.260.1Stock-based compensation expense 0.00.0Restructuring 0.4(0.0)(Gain) loss on derivative liabilities -(9.3)Effect of Assets Buyout and Repowering 19.62.9Equity in loss of unconsolidated affiliates 12.813.8Depreciation & amortization 0.30.8Income tax provision 10.5(18.0)Interest (income) expense / other misc. 0.20.1Other $59.0$299.5Adjusted EBITDA

16Bloom Energy Proprietary & Confidential GAAP to Non-GAAP Reconciliation: Adjusted EBITDA 2021202220232024 2025$ in millions ($164.4)($301.4)($302.1)($29.2)($88.4)GAAP net loss to common stockholders Non-GAAP adjustments: (28.9)(13.7)(5.8)2.01.3Add back: Income (loss) for non-controlling interests ----40.4Equity in loss of unconsolidated affiliates 76.1114.087.183.0145.0Stock-based compensation expense --9.2(0.4)2.4Restructuring 15.0(0.6)1.60.70.5Loss (gain) on derivative liabilities --0.4(21.0)(2.6)Effects of assets buyout and repowering -9.04.327.298.6Loss on debt extinguishment and conversion inducement expenses 53.561.662.653.050.6Depreciation & amortization (1.1)115.3130.1--Impairment charge (PPA V, PPA IIIa, PPA IV and Goodwill) 1.01.11.90.82.7Income tax provision 55.643.290.842.220.2Interest expense / other misc. 7.31.61.72.30.8Other $14.0$30.1$81.8$160.7$271.6Adjusted EBITDA

17Bloom Energy Proprietary & Confidential GAAP to Non-GAAP Reconciliation: Diluted Earnings (Loss) Per Share Q3’251Q3’26$ and count in millions, except per share Numerator for basic earnings per share: ($23.1)$250.3GAAP Net income (loss) attributable to common stockholders $35.5$302.8Non-GAAP Net income attributable to common stockholders Numerator for diluted earnings per share: ($12.6)$253.8GAAP Net income (loss), adjusted numerator $46.0 $306.4 Non-GAAP Net income, adjusted numerator Denominator for GAAP and non-GAAP basic earnings per share: 234.9294.8Weighted average common shares outstanding Denominator for GAAP and non-GAAP diluted earnings per share: 312.5324.3Weighted average common shares outstanding GAAP net earnings (loss) per share ($0.10)$0.85Basic ($0.10) $0.78Diluted Non-GAAP net earnings (loss) per share $0.15$1.03Basic $0.15$0.94Diluted 1.In cases of a net loss, the weighted average number of common shares outstanding is the same as the basic weighted average number of common shares outstanding.

18Bloom Energy Proprietary & Confidential GAAP to Non-GAAP Reconciliation: Gross Profit (Loss) and Margin 1. Please reference section “GAAP to Non-GAAP reconciliation: Gross profit and margin” of the appendix for detailed GAAP to Non-GAAP reconciliations Q3’25Q3’26 Non-GAAP gross margin GAAP gross margin Non-GAAP gross profit Other Non- GAAP Adj 1 SBC1GAAP gross profit Revenue Non-GAAP gross margin GAAP gross margin Non-GAAP gross profit (loss) Other Non- GAAP Adj 1 SBC1 GAAP gross profit (loss) Revenue$ in Millions 35.9%35.0%$138.0 $0.0 $3.5 $134.5 $384.3 38.4%37.9%$412.2 $0.0 $5.6 $406.6 $1,073.6 Product 10.0%8.9%$6.6$0.0 $0.8 $5.9$65.8 (3.5%)(4.8%)($3.0)$0.0 $1.1 ($4.1)$84.9 Install 14.4%11.6%$8.5 $0.2 $1.5 $6.8 $58.6 21.4%17.8%$14.5 $0.1 $2.4 $12.0 $67.6 Service 43.8%43.8%$4.5 $0.0 $0.0 $4.5 $10.4 25.7%25.7%$2.5 $0.0 $0.0 $2.5 $9.8 Electricity 30.4%29.2%$157.6 $0.2 $5.7 $151.7 $519.0 34.5%33.8%$426.2 $0.1 $9.0 $417.1 $1,235.8 Total

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Oct. 22, 2026

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Oct. 22, 2026

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BLOOM ENERGY CORPORATION

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001-38598

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95134

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San Jose,

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