Stem Announces Third Quarter 2024 Results
Stem, Inc. Class A (STEM)
US:NASDAQ Investor Relations:
investor.stemcellsinc.com
Company Research
Source: Business Wire
New Strategy Implementation in ProgressIncreased ARR by more than $3M in 3Q, Representing +7% QoQ GrowthRevising Full Year 2024 Guidance for Several Key MetricsThird Quarter 2024 Financial and Operating HighlightsFinancial HighlightsRevenue of $29.3 million, down from $133.7 million in 3Q23. Reflects $5.6 million and $37.4 million reductions in revenue, respectively, due to revised negotiated valuations of assets under certain hardware price guarantees entered into in 2022 and 2023. Lower revenue in the quarter also reflects reduced battery hardware sales, partially offset by growth in software and services revenue1GAAP gross profit of $6.2 million, up from $(20.3) million in 3Q23Non-GAAP gross profit of $16.2 million, down from $21.4 million in 3Q23, reflecting lower battery hardware revenueGAAP gross margin of 21%, up from (15)% in 3Q23Non-GAAP gross margin of 46%, up from 12% in 3Q23, reflecting a higher percentage of software and services revenueNet loss of $148.3 million versus n
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News
- Stem, Inc. (NYSE: STEM) had its price target raised by analysts at UBS Group AG from $0.60 to $0.65. They now have a "buy" rating on the stock.MarketBeat
- Stem, Inc. (NYSE: STEM) had its price target raised by analysts at Roth Mkm from $0.35 to $0.40. They now have a "neutral" rating on the stock.MarketBeat
- Stem, Inc. (NYSE: STEM) had its price target lowered by analysts at BMO Capital Markets from $0.50 to $0.40. They now have a "market perform" rating on the stock.MarketBeat
- Stem's PowerTrack™ Standard on Summit Ridge Energy's 514 MW Commercial Solar Portfolio [Yahoo! Finance]Yahoo! Finance
- Stem Announces Fourth Quarter and Full Year 2024 Results [Yahoo! Finance]Yahoo! Finance
STEM
Earnings
- 10/30/24 - Miss
STEM
Sec Filings
- 3/12/25 - Form 144
- 3/12/25 - Form 144
- 3/12/25 - Form 144
- STEM's page on the SEC website