Balance Sheet Components (Tables)

9 Months Ended

Sep. 30, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

The components of inventory consisted of the following (in thousands):


	September 30,		December 31,
	2026		2025

Raw materials	$	613,086	$	351,757
Work-in-progress	104,271		125,036
Finished goods	210,313		166,513
	$	927,670	$	643,306

Schedule of Prepaid Expense and Other Current Assets

Prepaid expenses and other current assets consisted of the following (in thousands):


	September 30,		December 31,
	2026		2025

Project-related asset1	$	72,704	$	—
Vendor advances2	28,003		750
Receivables from employees3	23,415		2,507
Prepaid hardware and software maintenance	8,513		6,327
Tax receivables	7,805		4,509
Interest receivable	5,575		6,029
Prepaid deferred commissions	4,811		3,049
Prepaid managed services	4,193		4,705
Advance income tax provision	3,574		142
Prepaid medical insurance	2,454		232
Prepaid rent	2,008		60
Deferred expenses	1,225		1,559
Tariff refund receivable4	1,150		—
Deferred financing costs (Note 8)	740		687
Deposits made	305		376
Prepaid corporate insurance	185		5,182
Prepaid workers compensation	—		796
Other prepaid expenses and other current assets	11,584		12,895
	$	178,244	$	49,805

1 The balance represents reimbursable project-related costs incurred on behalf of a customer in connection with a project arrangement. The Company expects to recover the amount from the customer within the next three months.

2 Vendor advances increased primarily due to advance payments made to certain suppliers under commercial arrangements related to future purchases of goods and services.

3 Receivables from employees increased primarily due to higher commission advances associated with increased sales bookings.

4 In the second quarter of fiscal year 2026 we had identified approximately $37.4 million of recoverable import tariffs previously paid under the International Emergency Economic Powers Act (“IEEPA”), all of which had been recognized in Cost of product revenue. Approximately $35.5 million of such amounts had been refunded as of September 30, 2026, and $0.7 million was reversed. Bloom concluded that recovery of the remaining $1.2 million was probable and reasonably estimable and, accordingly, recognized a tariff refund receivable for that amount as of September 30, 2026.

Schedule of Property, Plant and Equipment

Property, plant and equipment, net consisted of the following (in thousands):


	September 30,		December 31,
	2026		2025

Vehicles, machinery and equipment	$	270,453	$	203,731
Construction-in-progress	208,176		83,067
Leasehold improvements	130,708		129,665
Energy Server systems	130,537		165,629
Buildings	54,001		53,156
Computers, software and hardware	37,726		34,761
Furniture and fixtures	12,043		11,090
	843,644		681,099
Less: accumulated depreciation	(303,918)		(282,592)
	$	539,726	$	398,507

Schedule of Other Long-Term Assets

Other long-term assets consisted of the following (in thousands):


	September 30,		December 31,
	2026		2025

Vendor advances1	$	327,014	$	17,374
Deferred commissions	25,246		19,109
Deferred expenses	7,353		8,111
Deposits made	2,764		3,001
Deferred financing costs (Note 8)	2,384		2,725
Deferred tax asset	1,933		1,780
Long-term lease receivable	1,549		2,193
Prepaid managed services	1,281		1,316
Prepaid and other long-term assets	2,591		1,594
	$	372,115	$	57,203

1 Vendor advances increased primarily due to advance payments made to certain suppliers under commercial arrangements related to future purchases of goods and services and capital advances.

Schedule of Product Warranty Liability And Product Performance Liabilities

Accrued warranty and product performance liabilities consisted of the following (in thousands):


	September 30,		December 31,
	2026		2025

Product performance	$	22,491	$	16,791
Product warranty1	47,776		3,222
	$	70,267	$	20,013

Changes in the product warranty and product performance liabilities were as follows (in thousands):


Balances at December 31, 2025	$	20,013
Accrued warranty, net1 and product performance liabilities	71,601
Product performance expenditures during the period	(21,347)
Balances at September 30, 2026	$	70,267

1 Includes a specific warranty reserve of $42.5 million, which is accounted for as an assurance-type warranty and recognized within cost of product revenue.

Schedule of Accrued Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):


	September 30,		December 31,
	2026		2025

General invoice and purchase order accruals	$	329,041	$	76,909
Compensation and benefits	98,330		97,571

Sales-related liabilities	13,722		12,031
Accrued installation	13,235		14,278
Sales tax liabilities	7,587		10,054
Accrued legal expenses	6,257		2,599
Provision for income tax	2,964		2,115
Unfunded investment commitment (Note 11)	1,438		—
Finance lease liability	1,387		1,370
Interest payable	1,162		913
Accrued consulting expenses	942		1,475
Accrued restructuring costs	901		482
Current portion of derivative liabilities	851		1,353
Deferred profit in transactions with unconsolidated affiliates	631		39
Interim VAT liability	607		281
Other	727		784
	$	479,782	$	222,254