NYSE$STEM
Stem Inc. · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Stem's Q2 2023 results were announced, featuring revenue above the midpoint of guidance and reaffirmed full-year guidance.
Stem, Inc. reported a strong second quarter with revenue of $93 million, a 39% increase year-over-year. The company reaffirmed its full-year 2023 financial and operating guidance, expecting positive adjusted EBITDA in the second half of the year. Key highlights include a 5% sequential increase in CARR, reaching $74.9 million, and bookings of $236.4 million, up 5% year-over-year.
- Revenue reached $93.0 million, a 39% increase compared to Q2 2022.
- Bookings increased to $236.4 million, up 5% year-over-year.
- Contracted backlog reached a record $1.36 billion, up 88% year-over-year.
- Contracted annual recurring revenue (CARR) grew to $74.9 million, a 30% increase year-over-year.
Headline financials
Revenue & EPS history
Stem · Revenue · Quarterly
$92.9M
Forward guidance
The Company is reaffirming its full-year 2023 guidance ranges as follows: Revenue $550 - $650 million, Non-GAAP Gross Margin (%) 15% - 20%, Adjusted EBITDA $(35) - $(5) million, Bookings $1,400 - $1,600 million, CARR (year-end) $80 - $90 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
-2.0%
Avg return
Earnings day
-4.6%
Avg return
5 days after
+2.4%
Avg return
30 days after
52%
13 / 25 earnings
Positive
+30.3%
Q1 2025
Best reaction
-40.5%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +3.1% | -14.6% | -28.0% | |
| Q4 2025 | +21.2% | +8.1% | -13.8% | |
| Q3 2025 | -28.0% | -23.5% | -25.1% | |
| Q1 2025 | +30.3% | +21.2% | +17.8% | |
| Q4 2024 | +13.1% | -13.0% | -24.6% | |
| Q3 2024 | -30.2% | -22.4% | -27.5% | |
| Q2 2024 | -40.5% | -41.8% | -53.9% | |
| Q1 2024 | -26.5% | -30.3% | -28.1% | |
| Q4 2023 | +4.7% | -1.6% | -14.5% | |
| Q3 2023 | +10.9% | +5.1% | -0.3% | |
| Q2 2023 | +6.1% | +4.1% | -21.3% | |
| Q1 2023 | +11.5% | +6.0% | +36.1% | |
| Q4 2022 | -19.0% | -20.5% | -36.5% | |
| Q3 2022 | +1.5% | -1.1% | -0.3% | |
| Q2 2022 | +23.9% | +25.7% | +21.5% | |
| Q1 2022 | +6.5% | -15.9% | +6.8% | |
| Q4 2021 | -10.2% | -4.9% | +11.0% | |
| Q3 2021 | -0.7% | -0.2% | -20.7% | |
| Q2 2020 | -14.5% | -20.1% | -20.9% | |
| Q2 2021 | -14.5% | -20.1% | -20.9% | |
| Q1 2021 | +6.9% | +22.5% | +77.1% | |
| Q1 2020 | +6.9% | +22.5% | +77.1% | |
| Q4 2020 | -12.0% | -5.2% | -3.8% | |
| Q3 2020 | +0.0% | +2.6% | +76.9% | |
| Q4 2019 | +0.0% | +2.6% | +76.9% | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — | |
| Q4 2015 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — | |
| Q4 2014 | — | — | — |
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