Bloom Energy (BE) Research & Development (2017 - 2026)
Bloom Energy (BE) recorded Research & Development of $64.15 million in Q3 2026, up 31.7% from $48.72 million a year earlier and up 9.0% from the prior quarter.
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Analysis
Bloom Energy (BE) Research & Development (2017 - 2026) Analysis & Trends
On a TTM basis, Bloom Energy's Research & Development came in at $235.76 million as of Sep 30, 2026, up 39.0% year-over-year; for FY2025, it came in at $185.99 million, up 25.1% from FY2024.
- Annual Research & Development has a five-year compound annual growth rate of 17.3% (FY2020 to FY2025).
- Across earlier years, Research & Development came in at $148.63 million in FY2024 (-4.6%), $155.87 million in FY2023 (+3.5%), $150.61 million in FY2022 (+45.7%) and $103.4 million in FY2021 (+23.7%).
- The Q3 2026 figure is the highest quarterly Research & Development in data going back to Q1 2017.
- On a year-over-year basis, Research & Development has increased for nine consecutive quarters, with growth averaging 29.1% over the last eight quarters.
- Peak year-over-year performance for Research & Development in the last five years was growth of 62.1% in Q2 2022, against a decline of 22.3% in Q1 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at $58.87 million (Q2 2026), $56.85 million (Q1 2026) and $55.89 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | GE Vernova | 209.61 Bn | 160.70 Bn | 3.11 Bn | 358.00 Mn |
| 2 | Bloom Energy | 56.09 Bn | 45.99 Bn | 417.10 Mn | 64.15 Mn |
| 3 | First Solar | 19.82 Bn | 11.19 Bn | 713.06 Mn | 67.22 Mn |
| 4 | Nextpower | 15.58 Bn | 11.28 Bn | 345.32 Mn | 45.57 Mn |
| 5 | BWX Technologies | 11.75 Bn | 9.57 Bn | 227.14 Mn | 3.83 Mn |
| 6 | Generac Holdings | 10.81 Bn | 9.54 Bn | 516.04 Mn | 63.83 Mn |
| 7 | Innio | 10.80 Bn | 10.80 Bn | 367.70 Mn | 32.20 Mn |
| 8 | EnerSys | 5.49 Bn | 3.69 Bn | 313.36 Mn | - |
| 9 | Mirion Technologies | 4.67 Bn | 3.03 Bn | 131.50 Mn | 10.30 Mn |
| 10 | Enphase Energy | 3.73 Bn | -585.71 Mn | 127.12 Mn | 45.20 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 64.15 Mn |
| Jun 30, 2026 | 58.87 Mn |
| Mar 31, 2026 | 56.85 Mn |
| Dec 31, 2025 | 55.89 Mn |
| Sep 30, 2025 | 48.72 Mn |
| Jun 30, 2025 | 40.77 Mn |
| Mar 31, 2025 | 40.61 Mn |
| Dec 31, 2024 | 39.47 Mn |
| Sep 30, 2024 | 36.32 Mn |
| Jun 30, 2024 | 37.36 Mn |
| Mar 31, 2024 | 35.49 Mn |
| Dec 31, 2023 | 33.56 Mn |
| Sep 30, 2023 | 35.13 Mn |
| Jun 30, 2023 | 41.49 Mn |
| Mar 31, 2023 | 45.69 Mn |
| Dec 31, 2022 | 38.32 Mn |
| Sep 30, 2022 | 36.15 Mn |
| Jun 30, 2022 | 41.61 Mn |
| Mar 31, 2022 | 34.53 Mn |
| Dec 31, 2021 | 26.79 Mn |
API Access
Bloom Energy Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=BE&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "BE", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=BE&period=max&api_key=YOUR_API_KEY");
const data = await res.json();