Bloom Energy Corp. closed out the year 2025 having achieved unprecedented financial performance, with its CEO, KR Sridhar, highlighting a substantial transformation underway in the global industrial energy market. The company announced full-year revenues totaling $2.02 billion, reflecting a significant increase of 37.3% compared to 2024. This growth trajectory is largely propelled by the burgeoning demand from artificial intelligence (AI) centers and manufacturing hubs that are increasingly moving toward self-reliant power solutions.
Central to Bloom Energy's strategy is its positioning as the foundational power provider for the rapidly expanding AI sector. On the recent earnings call, CEO Sridhar emphasized that AI systems represent a monumental growth driver for the power industry as a whole, noting that the energy consumption of AI computer racks dwarfs that of their traditional counterparts by a factor of nearly 100. This extraordinary power requirement has spurred Bloom Energy to develop and introduce a native 800-volt direct current (DC) energy system specifically tailored for AI data centers.
The move towards an 800-volt DC infrastructure addresses inherent inefficiencies in conventional alternating current (AC) setups. Traditional data centers convert AC to DC internally to power digital equipment, a process that introduces energy losses and operational complexity. Sridhar asserted that physics dictates the necessity for 800 volts DC to become the standard in data center electrical supply due to its superior efficiency, and notably, Bloom Energy stands alone in producing this voltage natively, eliminating the need for adapters or intermediary converters.
Further reinforcing the company's forward-looking vision, Sridhar discussed the metamorphosis of fuel cells from a niche, environmentally focused technology to a crucial element of modern infrastructure. He articulated a growing industry mantra of “bring your own power,” signifying a shift toward on-site, decentralized energy generation as an essential business imperative rather than a fallback option. This transition is particularly pronounced within data centers and factories with high power demands, which are seeking reliable, flexible and scalable energy solutions.
The intensity of this shift is evidenced by Bloom Energy's robust order backlog, which saw remarkable growth. The product-specific backlog surged 140% year-over-year, reaching $6 billion, while the aggregate backlog across all company offerings reached an estimated $20 billion. These backlogs signal strong market confidence and the company's expanding footprint across industries embracing power autonomy.
Looking to the fiscal outlook for 2026, Bloom Energy’s Chief Financial Officer, Maciej Kurzymski, praised the company's operational execution, highlighting an adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of $271.6 million. This figure underscores the scalable economics and operating leverage inherent in the business model as the company continues to expand production and delivery capacity.
Bloom Energy has set ambitious revenue guidance for the coming year, projecting between $3.1 billion and $3.3 billion. This forecast notably surpasses current analyst expectations and reflects management’s confidence in outpacing traditional power utilities amid accelerating AI infrastructure development. Sridhar conveyed a compelling message about the company’s ability to rapidly deploy its power platforms, indicating that they can deliver solutions more swiftly than greenfield energy facility constructions.
Investors and market analysts are closely monitoring Bloom Energy’s price movements, with the company’s share performance capturing attention as it aligns with trends favoring innovative power generation companies that integrate clean technologies with emerging AI demands.