Bloom Energy Powers Ahead with Record Revenue Fueled by AI Data Center Demand

Bloom Energy has capped off its 2025 fiscal year with unprecedented financial performance. The fuel cell manufacturer shattered expectations, crossing the $2 billion annual revenue threshold for the first time. This surge is largely attributed to soaring demand from the artificial intelligence data center sector, a key growth market.

The company’s results for the fourth quarter, released on February 5, 2026, exceeded market forecasts. This strong finish cemented Bloom Energy's status as a primary beneficiary of the ongoing global build-out of AI infrastructure.

For the full 2025 year, revenue reached a record $2.02 billion, marking a 37% increase from the $1.47 billion reported in 2024. The final quarter was particularly robust, with sales climbing to $777.7 million. This represents a 36% year-over-year gain from the $572.4 million achieved in the same period last year.

Profitability metrics also showed significant improvement. On an adjusted basis, earnings per share came in at $0.45 for Q4. Perhaps more notably, the company’s adjusted EBITDA nearly doubled to $146.1 million in the fourth quarter, up from $59.2 million in the third quarter.

Key Performance Indicators:
* 2025 Full-Year Revenue: $2.02 billion (Record High)
* Q4 2025 Revenue: $777.7 million (+36% year-over-year)
* Q4 Adjusted EBITDA: $146.1 million
* Order Backlog: Increased 2.5 times compared to the previous year
* Cash Flow: Positive for the second consecutive year

Should investors sell immediately? Or is it worth buying Bloom Energy?

Strategic Partnerships Secure Future Pipeline

Substantial, multi-billion dollar agreements have been secured to lock in future growth. In a landmark move during October 2025, Bloom Energy entered into a $5 billion strategic partnership with Brookfield Asset Management. This global agreement designates Bloom as the preferred provider of distributed power generation for Brookfield’s AI infrastructure projects worldwide.

The company has also solidified other major contracts, including an agreement with American Electric Power for up to 1 gigawatt of fuel cell capacity and a deal with Equinix for installations exceeding 100 megawatts across 19 data centers.

AI Data Centers: The Structural Growth Engine

Management explicitly credited the accelerated demand from AI data centers as the core driver behind these record results. To meet the specific needs of this sector, all of Bloom Energy’s shipped products are now compatible with 800-volt direct current, a technical specification required by next-generation computing facilities.

The company’s own Data Center Power Report from January 2026 highlights a powerful industry trend supporting its strategy. It projects that by 2030, approximately one-third of all data centers will generate their power fully on-site. Furthermore, over 50% of new data centers are expected to reach capacities above 500 megawatts by 2035, with nearly one-third targeting over 1 gigawatt.

Confident Trajectory for the Year Ahead

Looking forward to 2026, the company’s provided outlook surpassed analyst estimates, according to market reports. The leadership team emphasized a continued focus on reducing product costs, leveraging operational efficiency, and maintaining disciplined execution. With a second straight year of positive cash flow, Bloom Energy’s financial foundation has strengthened even as it ramps up production to meet burgeoning demand.