Stem, Inc. income statement STEM

Annual Quarterly

In fiscal 2025, which ended Dec 31, 2025, Stem, Inc. reported revenue of $156.3 million, up 8.1% from the year before. Net income was $137.8 million, a profit margin of 88.2%. The operating loss came to $55.7 million, an operating margin of -35.6%. Diluted earnings per share were -$9.18. Over the twelve months ended Jun 30, 2026, revenue was $148.0 million and the net loss was $73.1 million. Across the 5 fiscal years shown, revenue grew from $127.4 million in fiscal 2021 to $156.3 million in fiscal 2025, about 5.2% a year.

USD in millions, except per-share amounts and margins. The percent under a figure is the change from the year before.

FY 2026
Jun 30, 2026
FY 2025
Dec 31, 2025
FY 2024
Dec 31, 2024
FY 2023
Dec 31, 2023
FY 2022
Dec 31, 2022
FY 2021
Dec 31, 2021
Revenue
148
-5.1%
156
+8.1%
145
-68.7%
462
+27.1%
363
+185.0%
127
Cost of revenue
87
-32.8%
96
-38.1%
156
-66.0%
458
+38.8%
330
+161.6%
126
Gross profit
61
+126.5%
60
+642.2%
-11
-401.7%
4
-88.9%
33
+2553.7%
1
Research and development
27
-37.5%
35
-31.2%
51
-9.2%
57
+47.5%
38
+68.6%
23
Selling, general and administrative
75
-29.5%
80
-36.1%
126
-0.5%
126
+0.4%
126
+104.4%
62
+318.9%
Operating expenses
—
116
—
183
+11.4%
164
+94.7%
84
Operating income
-43
+80.9%
-56
+93.4%
-839
-368.1%
-179
-36.8%
-131
-57.8%
-83
-68.2%
Other income (expense)
-30
-114.6%
194
+1463.6%
-14
-136.2%
39
+586.0%
-8
+55.4%
-18
+83.0%
Pretax income
-73
-243.2%
138
+116.2%
-854
-509.9%
-140
-0.5%
-139
-37.5%
-101
+35.2%
Income tax
0
-80.3%
1
+61.4%
0
-23.3%
0
+102.9%
-15
0
Net income
-73
-233.6%
138
+116.1%
-854
-508.2%
-140
-13.2%
-124
—
Basic EPS
-8.49
-217.6%
16.52
+115.6%
-105.80
-486.1%
-18.05
-2128.4%
-0.81
+15.6%
-0.96
Diluted EPS
-8.41
-217.7%
-9.18
+91.3%
-105.80
-486.1%
-18.05
-2128.4%
-0.81
+15.6%
-0.96
Weighted average shares, basic
9
+5.0%
8
+3.3%
8
+3.8%
8
-94.9%
153
+45.3%
106
Weighted average shares, diluted
9
+5.0%
8
+5.2%
8
+3.8%
8
-94.9%
153
+45.3%
106
Other measures
Depreciation and amortization
45
-0.9%
45
-0.1%
45
-2.8%
46
+1.9%
45
+85.6%
24
EBITDA
2
+100.9%
-11
+98.6%
-794
-497.2%
-133
-55.3%
-86
-46.2%
-59
Interest coverage
-1.42x
-2.33x
-45.89x
—
—
—
Margins
Gross margin
41.45%
38.37%
-7.65%
0.79%
9.12%
0.98%
Operating margin
-29.10%
-35.64%
-580.60%
-38.85%
-36.12%
-65.22%
Pretax margin
-49.28%
88.50%
-590.44%
-30.33%
-38.35%
-79.46%
Profit margin
-49.37%
88.16%
-590.67%
-30.42%
-34.18%
—
EBITDA margin
1.04%
-6.87%
-549.49%
-28.83%
-23.61%
-46.01%
Effective tax rate
—
0.39%
—
—
—
—
How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions, except per-share amounts and margins. Weighted average shares are in millions. Interest expense and finance costs are positive costs. A negative amount on a gain (loss) or income (expense) line is a loss or an expense. EBITDA is operating income plus depreciation and amortization. Interest coverage is operating income divided by interest expense. The first column is the trailing twelve months through the latest quarter. More on our methodology.

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Company profile

Industry
Services-Computer Integrated Systems Design (SIC 7373)
Listed as
STEM (NYSE)
Fiscal year ends
December 31
Headquarters
Houston, TX
SEC filer status
Non-accelerated filer, Smaller reporting company
SEC CIK
1758766
Former names
Star Peak Energy Transition Corp. (until Apr 30, 2021); Star Peak Energy Acquisition Corp. (until Nov 21, 2018)

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.