Business Description
Stem, Inc. operates internationally as a prominent provider of intelligent, digitally interconnected energy storage networks. The company delivers energy storage systems, which it sources from original equipment manufacturers (OEMs). Central to its offering is Athena, a proprietary artificial intelligence platform designed to integrate battery hardware with advanced software-enabled services, thereby optimizing the operation of these energy storage systems. Stem also extends its expertise through a wide array of support services, including system design and engineering, supply chain management, maximization of energy storage value streams, administration of warranties and preventive maintenance programs, operational reporting, and assistance with program enrollment and incentive management. Its diverse clientele encompasses commercial and industrial businesses, independent power producers, developers of renewable energy projects, and utility companies alongside grid operators. Stem, Inc. was founded in 2009 and maintains its corporate headquarters in San Francisco, California.
Business History
Price Overview
Last updated: Jun 27, 2026 10:07am (just now)Price History (1 Year)
Revenue & Net Income Trend
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
EPS (Diluted): 16.52
Total Equity: -$249.06M
Shares: 8,489,879
Total Debt: $329.18M
Cash: $48.92M
EBITDA: $207.18M
Total Debt: $329.18M
Cash: $48.92M
Revenue: $156.27M
Revenue: $156.27M
Revenue: $156.27M
Total Equity: -$249.06M
Tax Rate: 0.4%
Equity: -$249.06M
Total Debt: $329.18M
Cash: $48.92M
Current Liabilities: $110.57M
Long-Term Debt: $312.39M
Total Debt: $329.18M
Total Equity: -$249.06M
Shares: 8,489,879
Shares: 8,489,879
CapEx: $0.00
Shares: 8,489,879
Stock Price: $7.36
Net Income: $137.76M
Industry Benchmarks
Deep Analysis
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Income Statement (Annual)
Last updated: Jun 24, 2026 2:00pm (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $127.4M | $363.0M | $461.5M | $144.6M | $156.3M |
| Cost of Revenue | $126.1M | $329.9M | $457.9M | $155.6M | $96.3M |
| Gross Profit | $1.2M | $33.1M | $3.7M | -$11.1M | $60.0M |
| Operating Expenses | $84.3M | $164.2M | $183.0M | $828.4M | $115.6M |
| Operating Income | -$83.1M | -$131.1M | -$179.3M | -$839.5M | -$55.7M |
| Net Income | -$101.2M | -$124.1M | -$140.4M | -$854.0M | $137.8M |
| EBITDA | -$63.0M | -$87.7M | -$79.2M | -$790.4M | $207.2M |
| EPS | $-19.18 | $-16.17 | $-18.05 | $-105.80 | $16.52 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 24, 2026 2:00pm (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $747.8M | $87.9M | $105.4M | $56.3M | $48.9M |
| Total Current Assets | $1.0B | $532.8M | $473.0M | $136.6M | $100.1M |
| Total Assets | $1.2B | $1.4B | $1.4B | $437.4M | $308.9M |
| Current Liabilities | $88.0M | $267.0M | $251.1M | $128.8M | $110.6M |
| Long-Term Debt | $318.2M | $449.5M | $523.6M | $525.9M | $312.4M |
| Total Liabilities | $524.0M | $869.7M | $930.3M | $835.2M | $557.9M |
| Total Equity | $667.8M | $551.6M | $426.2M | -$398.4M | -$249.1M |
| Retained Earnings | -$509.1M | -$632.1M | -$772.5M | -$1.6B | -$1.5B |
Cash Flow (Annual)
Last updated: Jun 24, 2026 2:00pm (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$101.3M | -$106.0M | -$207.4M | -$36.7M | $6.9M |
| Capital Expenditure | -$10.2M | -$4.1M | -$18.2M | -$11.8M | $0 |
| Free Cash Flow | -$111.4M | -$110.1M | -$225.6M | -$48.4M | $6.9M |
| Acquisitions (net) | $0 | -$532.5M | -$1.8M | $0 | $-158,000 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $740.8M | -$659.9M | $18.6M | -$48.4M | -$7.4M |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 10:07am (just now)| Metric | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|
| Revenue |
$150.9M $140.5M – $161.5M
|
$155.2M $144.6M – $166.1M
|
$178.8M $166.5M – $191.3M
|
$227.0M $227.0M – $227.0M
|
| EBITDA |
-$27.4M -$29.3M – -$25.5M
|
-$28.2M -$30.2M – -$26.2M
|
-$32.5M -$34.7M – -$30.2M
|
-$41.2M -$41.2M – -$41.2M
|
| Net Income |
-$42.8M -$46.6M – -$38.9M
|
-$58.2M -$63.4M – -$52.9M
|
-$43.6M -$47.5M – -$39.6M
|
-$24.6M -$26.8M – -$22.4M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 24, 2026 2:00pm (2d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +185.0% | +27.1% | -68.7% | +8.1% |
| Gross Profit Growth | +2,553.7% | -88.9% | -401.7% | +642.2% |
| Operating Income Growth | -57.8% | -36.8% | -368.1% | +93.4% |
| Net Income Growth | -22.6% | -13.2% | -508.2% | +116.1% |
| EBITDA Growth | -39.2% | +9.7% | -898.4% | +126.2% |
Insider Trading (Recent)
All SEC Form 4 codes
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-06-03 | TYSON LAURA D | A-Award | 12,168.00 | $0.00 | $0 |
| 2026-06-03 | Daley Adam | A-Award | 12,168.00 | $0.00 | $0 |
| 2026-06-03 | Tammineedi Anil | A-Award | 12,168.00 | $0.00 | $0 |
| 2026-06-03 | Shivram Krishna | A-Award | 12,168.00 | $0.00 | $0 |
| 2026-06-03 | BUZBY DAVID S | A-Award | 12,168.00 | $0.00 | $0 |
| 2026-06-03 | Birns Ira M | A-Award | 12,168.00 | $0.00 | $0 |
| 2026-06-03 | Guruswamy Vasudevan | A-Award | 12,168.00 | $0.00 | $0 |
| 2026-03-11 | Tappin Matthew | S-Sale | 402.00 | $10.83 | $4,354 |
| 2026-03-07 | Tappin Matthew | M-Exempt | 1,458.00 | $0.00 | $0 |
| 2026-03-10 | Tappin Matthew | S-Sale | 655.00 | $11.12 | $7,284 |
| 2026-03-07 | Tappin Matthew | M-Exempt | 1,458.00 | $0.00 | $0 |
| 2026-03-07 | Laureles Saul R. | M-Exempt | 2,916.00 | $0.00 | $0 |
| 2026-03-10 | Laureles Saul R. | S-Sale | 942.00 | $11.12 | $10,475 |
| 2026-03-07 | Laureles Saul R. | M-Exempt | 2,916.00 | $0.00 | $0 |
| 2026-03-07 | Carlson Michael James | M-Exempt | 3,541.00 | $0.00 | $0 |
| 2026-03-10 | Carlson Michael James | S-Sale | 2,079.00 | $11.12 | $23,118 |
| 2026-03-07 | Carlson Michael James | M-Exempt | 3,541.00 | $0.00 | $0 |
| 2026-03-07 | Narayanan Arun | M-Exempt | 12,500.00 | $0.00 | $0 |
| 2026-03-07 | Narayanan Arun | M-Exempt | 5,625.00 | $0.00 | $0 |
| 2026-03-10 | Narayanan Arun | S-Sale | 5,145.00 | $11.12 | $57,212 |
Narrative Economics
market-narrative step).