Bloom Energy stock surged in after-hours trading after beating expectations for the second quarter and forecasting 2026 revenue to double from a year earlier.

The stock was trading at $178.89 a share in late trading, up more than 7% after closing down 11% in the regular session, to $166.84.

The company reported adjusted earnings of 78 cents a share and revenue of $1.07 billion, up 165.5% from the year-ago period. Analysts expected earnings of 41 cents a share and revenue of $826.1 million.

For the full year 2026, Bloom Energy is guiding for revenue of $3.9 billion to $4.2 billion, which would be up 100% at the midpoint from the year earlier.

CEO and founder KR Sridhar said demand for its solutions “keeps accelerating every quarter as customers who traditionally defaulted to combustion technologies are now proactively choosing Bloom as a superior power solution.”

Bloom Energy makes fuel cell systems to power data centers and other large tech manufacturing facilities onsite. Sridhar said all the major U.S. hyperscalers—the big cloud companies building out the artificial intelligence infrastructure—and more than one dozen U.S. neoclouds, AI labs, and colocation data center operators have approved Bloom’s power systems for their AI factories.

Gross profit rose to $355.6 million from 107.1 million a year ago, and the gross margin expanded to 33.4% versus 26.7% in the second quarter of 2025 and 30% in the first quarter of this year.

Bloom Energy expects full year 2026 adjusted earnings of $2.55 a share to $2.85 a share.