Stem, Inc.

STEM

$5.46

-0.55%

2026-09-02 16:00:02 EDT-$0.03

Utilities

Renewable Utilities

NYSE

Active Trading

Stem, Inc. operates internationally as a prominent provider of intelligent, digitally interconnected energy storage networks. The company delivers energy storage systems, which ...

Price Action of STEM

$5.46

-0.55%-$0.03

High—

Low—

52W High-83.1%

Rel. vol—

Interval

Range4h

Volume—SMA5SMA10

—

Stem, Inc. is a prominent provider of intelligent, digitally interconnected energy storage networks, operating internationally. The company delivers energy storage systems sourced from OEMs, but its core differentiator is the Athena platform, a proprietary AI solution that integrates battery hardware with software-enabled services to optimize energy storage operations. Stem's offerings ...Stem, Inc. is a prominent provider of intelligent, digitally interconnected energy storage networks, operating internationally. The company delivers energy storage systems sourced from OEMs, but its core differentiator is the Athena platform, a proprietary AI solution that integrates battery hardware with software-enabled services to optimize energy storage operations. Stem's offerings include system design and engineering, supply chain management, value stream maximization, warranty and maintenance programs, operational reporting, and assistance with program enrollment and incentives. Clients include commercial and industrial businesses, independent power producers, renewable energy developers, utilities, and grid operators. Founded in 2009 and headquartered in Houston, Texas, Stem went public in 2020. The company has 423 employees and is led by CEO Arun Narayanan. Financially, Stem has a market cap of about $52.8 million, with a stock price of $5.89. The company's financial metrics show a challenging period: negative return on equity, negative operating cash flow, and a high debt-to-equity ratio. However, it maintains a gross profit margin of 36.3% and an EBITDA margin of 143.7%. Stem's future is focused on expanding its AI-driven services, such as the recently launched AIONA, to meet growing market demand for clean energy optimization technology.ExpandCollapse

Founded

2009

Employees

423

CEO

Arun Narayanan

Full Name

Stem, Inc.

Sector

Utilities

Industry

Renewable Utilities

ROE

28.62%

Market Cap

$0.05B

Current Ratio

0.83

WACC

7.76%

ROIC

-39.46%

Contact Information

https://www.stem.com

877 374 7836

1400 Post Oak Boulevard, Houston, TX 77056

Key Metrics of STEM

Snapshot

Latest / TTM · 6 periods

Market Cap

$48.90M

ROCE

-25.9%

EV / EBITDA

-66.87x

+2.2% YoY

FCF Yield

11.8%

+6.3% YoY

Cash Conversion Cycle

48.6d

Current Ratio

0.83

Quick take

TTM —

Current ratio below 1.0

Negative working capital

Financial Highlights of STEM

Profitability trend

Latest / TTM · 6 periods

Gross Margin

38.2%

Net Margin

-49.4%

P/E Ratio

-0.65x

n/a

Debt / Equity

-1.36

n/a

Current Ratio

0.83

Dividend Yield

0.0%

Understanding

TTM —

Current ratio below 1.0

Interest coverage is weak

Calendar of STEM

Upcoming

Sep 30, 2026In 26 days
Q3 FY2026 · Estimated results
Est. EPS $-1.53 · Revenue $40.34M · 1 analysts
Dec 30, 2026
Q4 FY2026 · Estimated results
Est. EPS $-1.37 · Revenue $46.92M · 1 analysts
Dec 31, 2026
FY2026 · Estimated annual results
Est. EPS $-6.63 · Revenue $151.11M · 1 analysts
Mar 30, 2027
Q1 FY2027 · Estimated results
Est. EPS $-1.70 · Revenue $35.30M · 1 analysts

Recent history

Aug 13, 2026
Q2 FY2026 · Results reported
EPS $-1.58 · Revenue $33.65M
View filing
May 7, 2026
Q1 FY2026 · Results reported
EPS $-2.22 · Revenue $29.00M
View filing
Mar 5, 2026
FY2025 · Annual results
EPS $-9.18 · Revenue $156.27M
View filing
Oct 30, 2025
Q3 FY2025 · Results reported
EPS $-2.84 · Revenue $38.24M
View filing
Aug 8, 2025
Q2 FY2025 · Results reported
EPS $-1.79 · Revenue $38.37M
View filing
Apr 30, 2025
Q1 FY2025 · Results reported
EPS $-3.05 · Revenue $32.51M
View filing

Financial Statements of STEM

5Y Trend (Revenue, Earnings, FCF)

Metric	Latest	YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.	QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).	$156.3M	+8.1%	+16.0%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.	$137.8M	+116.1%	+24.0%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.	+38.4%	+601.7%	+10.2%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).	-35.6%	+93.9%	+39.4%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.	+88.2%	+114.9%	+34.5%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.	$6.9M	+114.2%	+77.1%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.	+4.4%	+113.1%	+80.3%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.	-130.4%	+4.2%	-9.8%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.	0.91x	-14.7%	-1.4%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.	$308.9M	-29.4%	-0.7%

Actual vs Estimate

A Dec 31Q Sep 30

Metric	Annual (A vs E)	Annual Surprise	Quarter (A vs E)	Quarter Surprise
EPS Surprise	-9.18 vs -5.03	-82.4%	-1.58 vs -1.53	-3.3%
Revenue Surprise	$156.3M vs $150.9M	+3.5%	$33.7M vs $40.3M	-16.6%

Insider Transactions of STEM

Acquisitions (A)

Since Aug 7, 2026

Disposals (D)

Since Aug 7, 2026

Monthly shares of acquisitions/disposals with close price trend (shared daily price source)

Insider Trading Snapshot

Date	Executive	Title	Security	Side	Shares	Price
Aug 7, 2026	BUZBY DAVID S	director	Common Stock, Par Value $0.0001 Per Share	A	7,486	—
Aug 7, 2026	BUZBY DAVID S	director	Restricted Stock Unit	D	7,486	—
Aug 7, 2026	Shivram Krishna	director	Common Stock, Par Value $0.0001 Per Share	A	7,486	—
Aug 7, 2026	Shivram Krishna	director	Restricted Stock Unit	D	7,486	—
Aug 7, 2026	Daley Adam	director	Common Stock, Par Value $0.0001 Per Share	A	7,486	—

Earnings Call Transcript of STEM

1 transcript segments

Q2 2026

Unknown Speaker

Operator: Greetings and welcome to the Stem, Inc. Second Quarter 2026 Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Erin Reed, Head of Investor Relations. Erin Reed: Thank you, operator. Welcome to Stem's Second Quarter 2026 Earnings Call. This is Erin Reed, Head of Investor Relations. Before we begin, please note that some of the statements we will be making today are forward-looking. These statements involve risks and uncertainties that could cause our results to differ materially from those projected in these statements. For more information, we refer you to our latest 10-Q, 10-K, and other SEC filings and supplemental presentation, which can be found on the company's Investor Relations website. Our comments today also include non-GAAP financial measures. Additional details and reconciliations to the most directly comparable GAAP financial measures can be found in our second quarter 2026 earnings release and supplemental materials, which are available on our Investor Relations website. Arun Narayanan, CEO, and Brian Musfeldt, CFO, will start the call today with prepared remarks, and then we will conduct a question-and-answer session. And now, I'll turn the call over to Arun. Arun Narayanan: Thank you, Erin. Good afternoon, everyone, and thank you all for joining us today. On our Q1 call, I told you that we would demonstrate what our software-centric transformation was designed to deliver. Halfway through 2026, I am pleased to see evidence of this transformation in the results. The second quarter marked our fifth consecutive quarter of positive adjusted EBITDA. Our non-GAAP gross margin remains at record levels, and we saw meaningful commercial momentum across the PowerTrack platform. We made a new market entry in Latin America, received industry recognition for PowerTrack EMS, and continued the expansion of our product capabilities. Given this progress, we are reaffirming our full year 2026 guidance today, which Brian will walk through in detail later in the call. Let me turn now to an update on our three key priorities for 2026. Our first priority is to drive operational leverage and ensure that the structural improvements we made in 2025 continue. We achieved record non-GAAP gross margins in the second quarter. As in Q1, this was driven by a revenue mix weighted meaningfully towards software, services, and edge hardware, with battery hardware resales remaining relatively low in the quarter as expected. Because we have had minimal revenue from battery hardware resales in the first half of the year, we are trending above the high end of our guidance range for non-GAAP gross margin. We expect to track within the high end of our guidance range of 40% to 50%. We see more battery hardware resale revenue during the second half of the year. On the operating expense side, we continue to manage costs with discipline and drive efficiency through the use …

Leadership Team of STEM

10 executives

Name	Title	Compensation	Gender	Year Born	Status
Arun Narayanan	CEO & Director	USD 1,277,035	Male	1975	Active
Michael J. Carlson	President of Managed Services & OEM Hardware	USD 810,296	Male	1964	Active
Saul R. Laureles	Chief Legal Officer & Corporate Secretary	USD 795,255	Male	1966	Active
Ryan McCool	Chief Technology Officer	USD 601,611	Male	—	Active
Jeffrey T. Cabot	Chief Accounting Officer	—	Male	1969	Active
Kevin Smart	SVP of Sales	—	Male	—	Active
Tatjana Legans	VP of Marketing & New Businesses	—	Female	—	Active
Brian Musfeldt	Chief Financial Officer	—	Male	1975	Active
Brian Thompson	Founder	—	Male	—	Active
Erin Reed	Head of Investor Relations	—	—	—	Active

Recent News of STEM

Seeking Alpha8/13/2026Neutral

Stem, Inc. (STEM) Q2 2026 Earnings Call Transcript

MarketBeat8/13/2026Neutral

Stem Q2 Earnings Call Highlights

Stem NYSE: STEM reported second-quarter results that highlighted continued profitability progress, higher software and edge-hardware revenue, and expanding utility-scale energy-management-system deployments internationally. The company reaffirmed its full-year 2026 guidance, while management said it is tracking toward the high end of its adjusted EBITDA range.

Zacks Investment Research8/12/2026Neutral

Stem, Inc. (STEM) Reports Q2 Loss, Beats Revenue Estimates

Stem, Inc. (STEM) came out with a quarterly loss of $1.58 per share versus the Zacks Consensus Estimate of a loss of $1.76. This compares to a loss of $3.73 per share a year ago.

Business Wire8/12/2026Neutral

Stem Announces Second Quarter 2026 Results

HOUSTON--(BUSINESS WIRE)--Stem, Inc. (“Stem,” “we” or the “Company”) (NYSE: STEM), a global leader in AI-enabled clean energy software and services, today announced its results for the quarter ended June 30, 2026. Financial Highlights Revenue of $33.7 million, down 12% from $38.4 million in 2Q25 Software, services, and edge hardware revenue of $33.4 million, up 1% from $32.9 million in 2Q25 GAAP gross profit of $13.9 million, up 9% from $12.8 million in 2Q25 GAAP gross margin of 41%, up from 33.

Business Wire8/12/2026Neutral

Stem's PowerTrack EMS Enables Hybridization of Two Operating Utility-Scale Solar Plants in Hungary

HOUSTON--(BUSINESS WIRE)--Stem, Inc. (NYSE: STEM), a global leader in AI-enabled clean energy software and services, today announced that Solarmarkt Group, together with engineering, procurement, and construction (EPC) partner Pannonwatt Energetikai Megoldások Zrt. (Pannonwatt), has selected Stem's PowerTrack™ Energy Management System (EMS) as the integrated energy management, power plant control (PPC), and SCADA platform for the hybridization of two operating utility-scale solar plants in Hung.

Historical Employee Count of STEM

Current

423

Change

-25.66%

Minimum

213

Maximum

660

Recent Filings

Report Date	Employees	Form Type	Filing Date	SEC Filing
Dec 31, 2025	423	10-K	Mar 5, 2026	View
Dec 31, 2024	569	10-K	Mar 5, 2025	View
Dec 31, 2023	624	10-K	Feb 29, 2024	View
Dec 31, 2022	660	10-K	Feb 17, 2023	View
Dec 31, 2021	213	10-K	Feb 28, 2022	View

Related stocksSoftware - Infrastructure

Browse all US stocks →

About UsPrivacy PolicyTerms of ServiceDisclaimerStock DirectoryETFsIndices13F HoldingsAnalyst TargetsFree ToolsTechnology MapJoin our Slack

Plutux is not an investment adviser. Market data and AI-generated analysis are for information and education only, not investment advice. Disclaimer

Stem, Inc.