NYSE$STEM

Stem Inc. · Q3 2025 earnings

Q3 2025 earnings · · After market close · Investor relations

Briefing

Stem reported Q3 2025 total revenue of $38.2M with a net loss of $23.8M.

Total revenue was $38.2 million with a net loss of $23.8 million as hardware and services revenue mix shifted; a large prior-year impairment distorts year-over-year comparisons.

  • Q3 total revenue $38.2M (hardware and services).
  • Net loss $23.8M; diluted loss per share $2.84.
  • Energy storage project pipeline and hardware deliveries drive revenue.
  • Operating expenses reflect go-to-market and platform investments.

Headline financials

Total Revenue

$38.2M

Previous: $29.3M+30.5%
EPS (adj)

-$2.84

Previous: -$0.91-212.1%
Contracted Backlog

$22.2M

No prior period
Bookings

$30.3M

No prior period
ARR

$60.2M

Previous: $51.4M+17.1%
CARR

$70.1M

No prior period
Solar Operating AUM

33.9

Previous: 28.5+18.9%
Storage Operating AUM

1.8

Previous: 1.6+12.5%
Adjusted EBITDA

$2.05M

Previous: -$3.49M+158.6%
Operating Cash Flow

$11.4M

No prior period
GAAP Gross Margin

35.0%

Previous: 21.0%+66.7%
Non-GAAP Gross Margin

47.0%

Previous: 46.0%+2.2%
Capital Expenditures

$0.00

Previous: -$228K+100.0%
Net Income

-$23.8M

Previous: -$148M+84.0%
Operating Income

-$12.9M

Previous: -$144M+91.1%
Gross Profit

$13.6M

Previous: $6.2M+119.2%

Revenue & EPS history

Stem · Revenue · Quarterly

$38.2M

Q3 2025+30.5%vs Q3 2024
Beat estimate in 5 of 15 quarters(33%)
ActualEstimate

Forward guidance

The release discusses Stem's outlook, capital allocation, and key risks for upcoming quarters, including guidance ranges or operating priorities where disclosed.

Tailwinds

  • Stem cites demand and execution supporting the near-term outlook.
  • Liquidity and balance-sheet capacity support operations and shareholder returns.

Headwinds

  • GAAP profitability remained under pressure in Q3 2025.
  • Macro, input costs, and FX may pressure margins quarter to quarter.
  • Segment mix and one-time items can affect comparability versus prior periods.

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 2025

Historical avgQ3 2025

-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

Earnings price reactions
QuarterReport dateReaction (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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