← STEM, INC.
| Annual Trend | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.6m |
$36.3m
+106.85%
|
$127.4m
+250.82%
|
$363.0m
+184.98%
|
$461.5m
+27.15%
|
$144.6m
-68.67%
|
$156.3m
+8.08%
|
$152.8m
-2.25%
|
|
| Total cost of revenue | $20.8m |
$40.2m
+93.25%
|
$126.1m
+213.59%
|
$329.9m
+161.56%
|
$457.9m
+38.79%
|
$155.6m
-66.01%
|
$96.3m
-38.12%
|
— | |
| Gross profit (loss) | ($3.3m) |
($3.9m)
-20.00%
|
$1.2m
+131.88%
|
$33.1m
+2553.73%
|
$3.7m
-88.92%
|
($11.1m)
-401.72%
|
$60.0m
+642.20%
|
— | |
| Research and development | $14.7m | $15.9m | $22.7m | $38.3m | $56.5m | $51.3m | $35.3m | $30.5m | |
| Sales and marketing | $17.5m | $14.8m | $19.9m | $48.9m | $51.6m | $37.8m | $28.7m | — | |
| General and administrative | $12.4m | $3.1m | $41.6m | $77.0m | $74.9m | $88.1m | $51.6m | $46.7m | |
| Total operating expenses | $44.6m | $3.5m | $84.3m | $164.2m | $183.0m | $828.4m | $115.6m | $105.7m | |
| Loss from operations | ($47.9m) |
($49.4m)
-3.21%
|
($83.1m)
-68.21%
|
($131.1m)
-57.84%
|
($179.3m)
-36.75%
|
($839.5m)
-368.15%
|
($55.7m)
+93.37%
|
— | |
| Interest expense | ($12.5m) | ($20.8m) | ($17.4m) | ($10.5m) | ($15.0m) | ($18.3m) | ($23.9m) | $27.0m | |
| Other income, net | ($503k) | ($1.5m) | $898k | $2.4m | $2.9m | $2.6m | $1.1m | $216.9m | |
| Total other income (expense), net | ($11.6m) | ($106.7m) | ($18.1m) | ($8.1m) | $39.3m | ($14.2m) | $194.0m | — | |
| Income (loss) before provision for income taxes | ($59.4m) | ($156.1m) | ($101.2m) | ($139.2m) | ($140.0m) | ($853.7m) | $138.3m | — | |
| Provision for income taxes | ($6k) | ($5k) | $0 | $15.2m | ($433k) | ($332k) | ($536k) | — | |
| Net income (loss) | ($10k) |
($156.1m)
-1500226.73%
|
($101.2m)
+35.17%
|
($124.1m)
-22.57%
|
($140.4m)
-13.19%
|
($854.0m)
-508.22%
|
$137.8m
+116.13%
|
$143.8m
+4.41%
|
|
| Net income (loss) per share attributable to common shareholders, basic (in dollars per share) | ($2) | ($4) | ($1) | ($1) | ($1) | ($5) | $17 | $143.8m | |
| Net loss attributable to Stem common stockholders, diluted | — | — | — | — | ($140.4m) | ($854.0m) | ($78.0m) | — | |
| Weighted-average shares used in computing net income (loss) per share to common shareholders, basic (in shares) | ($0) | ($4) | ($1) | ($1) | ($1) | ($5) | $17 | — | |
| Weighted-average shares used in computing net loss per share to common shareholders, diluted (in shares) | ($0) | ($4) | ($1) | ($1) | ($1) | ($5) | $16 | — | |
| Impairment of parent company guarantees | — | — | — | $0 | $0 | $104.1m | $0 | — | |
| Impairment of goodwill | — | — | — | $0 | $0 | $547.2m | $0 | — | |
| Gain on extinguishment of debt | $0 | $0 | ($5.1m) | $0 | $59.1m | $0 | $220.0m | — | |
| Change in fair value of derivative liability | — | — | — | $0 | ($7.7m) | $1.5m | $0 | — | |
| Change in fair value of warrant liability | — | — | — | — | $0 | $0 | ($3.2m) | — |