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MARKETS / NYSE / STEM
NYSE · SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN · SMALL CAP

Stem, Inc. STEM

7 fiscal years on record · USD · FY2025 reported · SEC filings only
$156.3M
▲ 8.1% YoY
$137.8M
In brief

What this company does

Stem, Inc. offers commercial- and utility-scale edge hardware solutions, OEM-agnostic devices used to connect customers' solar and storage assets to its software applications in a unified view. It also offers Managed Services, full lifecycle storage services covering the design, procurement, commissioning, operation and optimization of energy storage and hybrid systems, enabled by its PowerTrack Optimizer software. The company serves project developers, asset owners, engineering, procurement and construction firms and distributors. As of December 31, 2025, the company had 423 employees, of whom 268 were based in the United States and 155 were in international locations. Since its inception in 2009, the company has developed and marketed AI-enabled software and services while raising capital and recruiting personnel. The company was originally known as Star Peak Energy Transition Corp., a special purpose acquisition company that completed its public offering on August 20, 2020. On April 28, 2021, it consummated a business combination among STPK, STPK Merger Sub Corp. and Stem, Inc., which is referred to as Legacy Stem.

Written from the business description in STEM, INC.'s annual report to the U.S. Securities and Exchange Commission, filed 5 March 2026. Every sentence was checked against that document before publication.

Growth
USD 156.3M
Revenue, FY2025 · full 7-year series below
Revenue $M Net income $M
FY2025 · Revenue 156.3 · Net income 137.8
200M400M-400M-800M2019202020212022202320242025
Compound annual growth
−24.5%
+33.9%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +33.9% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
88 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating -35.6% · Net 88.2%
50%-200%-400%2019202020212022202320242025
ROE
FY2022 · ROE -20.3%
-20%-40%2019202020212022202320242025

Cash & shareholders
returned in FY2025 · dividends + net buybacks

Total assetsUSD 308.9M
EquityUSD -249.4M
CashUSD 48.9M
Current ratio0.91×

Equity funds -81% of total assets.

The 7-year record
7 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 2025202420232022202120202019
Revenue $B0.20.10.50.40.10.00.0
Operating income $B−0.1−0.8−0.2−0.1−0.1−0.0−0.0
EBITDA $B−0.0−0.8−0.1−0.1−0.1−0.0−0.0
Income tax $B0.00.00.0−0.00.00.00.0
Net income $B0.1−0.9−0.1−0.1−0.1−0.2−0.1
EPS, diluted $−9.18−105.80−18.05−0.81−0.96−4.13−1.51
Dividend / sh $·······
Payout %·······
ROE %···−20.3−41.3··
Shares out B0.010.010.160.150.140.04·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 35 reconciliationsAUDITED

Reconciled in 7 of 19 fiscal years. 60 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityServices-Computer Integrated Systems Design
Listed onNYSE
Incorporated innot stated in the filings
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2019

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