Stem, Inc. Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	152.75	156.27	144.58	461.52	362.98	127.37
Revenue Growth (YoY)	0.74%	8.08%	-68.67%	27.15%	184.98%	250.82%
Cost of Revenue	92.48	96.31	155.64	457.85	329.89	126.12
Gross Profit	60.28	59.96	-11.06	3.67	33.09	1.25
Selling, General & Admin	75.17	80.35	125.83	126.47	125.91	61.6
Research & Development	30.54	35.3	51.28	56.51	38.3	22.72
Other Operating Expenses	3.32	0	651.29	0	0	0
Total Operating Expenses	109.03	115.64	828.4	182.98	164.21	84.32
Operating Income	-48.75	-55.69	-839.46	-179.31	-131.12	-83.07
Interest Expense	-27	-23.93	-18.29	-14.98	-10.47	-17.4
Other Non-Operating Income (Expense)	220.18	217.92	4.07	54.31	2.37	-0.74
Total Non-Operating Income (Expense)	193.18	193.99	-14.23	39.33	-8.09	-18.14
Pretax Income	144.43	138.3	-853.68	-139.98	-139.22	-101.21
Provision for Income Taxes	0.59	0.54	0.33	0.43	-15.16	-
Net Income	143.84	137.76	-854.01	-140.41	-124.05	-101.21
Net Income to Common	143.84	137.76	-854.01	-140.41	-124.05	-101.21
Shares Outstanding (Basic)	8	8	8	8	8	5
Shares Outstanding (Diluted)	8	8	8	8	8	5
Shares Change (YoY)	4.55%	5.17%	3.77%	1.42%	45.33%	163.48%
EPS (Basic)	17.25	16.52	-105.80	-18.05	-16.20	-19.20
EPS (Diluted)	-8.70	-9.18	-105.80	-18.05	-16.20	-19.20
Shares Outstanding	8.57	8.49	8.14	7.8	7.73	7.23
Free Cash Flow	-9.97	0.26	-37.14	-211.52	-110.13	-105.47
Free Cash Flow Per Share	-1.17	0.03	-4.60	-27.19	-14.36	-19.98
Gross Margin	39.46%	38.37%	-7.65%	0.79%	9.12%	0.98%
Operating Margin	-31.92%	-35.64%	-580.60%	-38.85%	-36.12%	-65.22%
Profit Margin	94.16%	88.16%	-590.67%	-30.42%	-34.18%	-79.46%
FCF Margin	-6.53%	0.17%	-25.69%	-45.83%	-30.34%	-82.81%
EBITDA	-4.32	-10.74	-794.47	-133.04	-85.69	-58.6
EBITDA Margin	-2.83%	-6.87%	-549.48%	-28.83%	-23.61%	-46.01%
EBIT	-48.75	-55.69	-839.46	-179.31	-131.12	-83.07
EBIT Margin	-31.92%	-35.64%	-580.60%	-38.85%	-36.12%	-65.22%
Effective Tax Rate	0.41%	0.39%	-0.04%	-0.31%	10.89%	0.00%

Updated May 6, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q