NYSE$STEM
Stem Inc. · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Announced third quarter 2023 results, featuring record bookings and strategic partnerships.
Stem reported a strong third quarter with record bookings of $676.4 million, a significant increase in contracted backlog to $1.84 billion, and growth in contracted storage and solar monitoring AUM. Revenue increased to $133.7 million, but was impacted by a $37.4 million reduction. The company is optimistic about achieving adjusted EBITDA positive in 2024 and highlighted a major technology and commercial alliance with SB Energy.
- Record Q3 bookings of $676.4 million, approximately 2x the guidance.
- Contracted backlog reached a record of $1.84 billion.
- Contracted storage AUM increased to 5.0 GWh.
- CARR increased to $87.5 million.
Headline financials
Revenue & EPS history
Stem · Revenue · Quarterly
$134M
Forward guidance
Stem is updating its full-year 2023 guidance.The Company expects to achieve adjusted EBITDA positive in 2H 2023 and full year adjusted EBITDA positive in 2024, with no expectation of a need for additional equity issuance to achieve goal.
Tailwinds
- Revenue growth poised for strong momentum.
- Q3 2023 bookings of $676.4 million (~2x guidance for the quarter).
- Solar asset performance management backlog up +41% YoY.
- Service revenue growth expected to accelerate; SB Energy agreement on software and services for multi-GWh development pipeline.
- Engaged with supply chain partners, including U.S. domestic manufacturers, with expected double-digit declines in costs and improved payment terms.
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 Q3 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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