Quarterly ResultMay 6, 2026, 04:58 PM
Stem Q1 Adjusted EBITDA $2.0M; Reaffirms Full-Year 2026 Guidance
AI Summary
Stem, Inc. announced its first quarter 2026 financial results, reporting positive adjusted EBITDA of $2.0 million, marking the fourth consecutive quarter of positive adjusted EBITDA. While total revenue decreased 11% year-over-year to $29.0 million due to reduced battery hardware sales, software, services, and edge hardware revenue increased 4% to $29.0 million, driven by 16% growth in PowerTrack software revenue. The company also reaffirmed its full-year 2026 financial and operating guidance and expanded its PowerTrack platform through the acquisition of raicoon GmbH's software assets.
Key Highlights
- Achieved positive adjusted EBITDA of $2.0 million, up from $(4.6) million in 1Q25.
- Non-GAAP gross margin increased to 52% from 46% in 1Q25.
- Software, services, and edge hardware revenue rose 4% YoY to $29.0 million.
- PowerTrack software revenue grew 16% year-over-year.
- Total revenue decreased 11% YoY to $29.0 million due to reduced battery hardware sales.
- Net loss improved to $(18.9) million from $(25.0) million in 1Q25.
- Reaffirmed full-year 2026 guidance for all metrics, including revenue and adjusted EBITDA.
- Acquired software assets of raicoon GmbH to enhance the PowerTrack platform.