Stem, Inc.STEM
What Stem, Inc. does.
In 2024, we announced a new business strategy that reflects a renewed focus on developing and marketing our AI-enabled software, edge and services offerings. This transition entailed significant operational changes during calendar years 2024 and 2025, including reduction of what had historically been the source of most of our revenue (battery resales), adjustments to the way we develop and market our products and services, and realignment of our business processes. These changes have resulted in reduced revenue, increased restructuring-related costs, reduced operating expenses, and short-term disruptions in our operations, which may negatively affect our ability to effectively scale our software and services offerings and achieve our financial and operational targets. Failure to achieve the anticipated benefits of our new strategy may have a material adverse effect on our business, financial condition, and results of operations. See “Our strategy may not achieve anticipated benefits.” in Part I. Item 1A. “Risk Factors” in this Report for additional information about some risks related to our new strategy.
Stem, Inc., a Delaware corporation (“Stem,” the “Company,” “we,” “us,” or “our”), is a global leader reimagining technology to support the energy transition. We help asset owners, operators, and energy stakeholders unlock the full value of their energy portfolios by enabling the intelligent development, deployment and operation of clean energy assets. Our integrated software suite, PowerTrack™, provides asset monitoring and optimization software and solutions, supported by professional and managed services, under one consolidated set of solutions. Our solutions and services are designed to address complex energy challenges by transforming our customers’ raw data into clear and accurate information to inform actionable insight.
Revenue and profit, by fiscal year.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $36.3M | $127.4M | $363.0M | $461.5M | $144.6M | $156.3M |
| Net income | -$156.1M | -$101.2M | -$124.1M | -$140.4M | -$854.0M | $137.8M |
| Free cash flow | -$33.7M | -$101.9M | -$107.5M | -$208.9M | -$36.9M | $6.9M |
More on STEM.
- Stem, Inc. summary
- Stem, Inc. financial statements
- Stem, Inc. key metrics
- Stem, Inc. health scores and style box
- Stem, Inc. earnings
- Stem, Inc. dividends
- Stem, Inc. valuation
- Stem, Inc. ownership and insiders
- Stem, Inc. peers
Figures from Stem, Inc.'s filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.