Bloom Energy Corporation reported a significant turnaround in its first-quarter financial results, posting a profit of $70.7 million compared to a loss of $23.8 million in the same period last year.

The fuel-cell technology provider attributed the strong performance to increased demand for digital power solutions. The company also raised its full-year financial guidance based on the positive first-quarter results.

The $94.5 million swing from loss to profit represents a notable improvement in the company's financial performance year-over-year. Bloom Energy specializes in solid oxide fuel cell technology that converts natural gas and other fuels into electricity.

The improved results come as data centers and other digital infrastructure increasingly seek reliable, on-site power generation solutions. Fuel cell technology offers an alternative to traditional grid power for facilities requiring consistent electricity supply.