NYSE$STEM
Stem Inc. · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Announced third quarter 2024 results, implemented a new strategy, and increased ARR.
Stem reported a decrease in revenue to $29.3 million, down from $133.7 million in 3Q23, primarily due to reduced battery hardware sales and revised negotiated valuations of assets under certain hardware price guarantees. Despite the revenue decline, the company saw growth in software and services revenue and an increase in GAAP gross margin to 21%. The company is implementing a new strategy focused on software and services to drive more predictable and scalable growth. They are adjusting full year 2024 guidance for several key metrics.
- Increased CARR by more than $3M in 3Q, representing +7% QoQ Growth.
- GAAP gross margin increased to 21%, up from (15)% in 3Q23, driven by a higher percentage of software and services revenue.
- Bookings decreased to $29.1 million, versus $676.4 million in 3Q23, driven primarily by lower battery hardware resale bookings.
- Implemented a new strategy focused on software and services to drive more predictable, scalable growth and improved profitability.
Headline financials
Revenue & EPS history
Stem · Revenue · Quarterly
$29.3M
Forward guidance
The Company is updating its full year 2024 guidance ranges to account for the Company’s recent financial results, ongoing implementation of its new strategy and continued expectation of project delays, which continue to negatively impact results.
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 2024
-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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