Bloom Energy generated more non-GAAP operating profit in Q3 2026 alone than in all of 2025 combined, yet the stock fell 15% as working capital burned $181M in free cash flow.

In ~10 minutes:

- Product sales top $1B at 38.4% non-GAAP gross margin ⚡

- Unbilled contract assets double QoQ to $793M, stalling cash collection

- Why a $218M vendor advance spike followed a July short report

- Zero amortization on the $306.5M Oracle warrant asset in Q3

- Sridhar’s "token cost of electricity" pitch and 800V DC savings


Hyperscalers are wiring hundreds of millions in long-term deposits to lock in Bloom’s fuel cells over a year in advance, pushing FY26 revenue guidance to a $4.5B midpoint. Still, between financing customer delivery milestones on the front end and advancing cash to suppliers on the back end, hyper-growth is testing the balance sheet.


Company: Bloom Energy Corporation (BE) | Q3 FY2026

AI-assisted production. Feedback/ticker requests: https://x.com/EarnUnscripted.

Rss
Podden och tillhörande omslagsbild på den här sidan tillhör Miro Benes. Innehållet i podden är skapat av Miro Benes och inte av, eller tillsammans med, Poddtoppen.