Quarterly ResultMay 7, 2026, 06:08 AM
Stem Q1 Net Loss $(18.9)M, Revenue $(29.0)M; Launches $30M ATM Program
AI Summary
Stem, Inc. reported a net loss of $(18.9) million for the first quarter of 2026, an improvement from $(25.0) million in the prior year. Total revenue decreased by 10.8% to $29.0 million, primarily due to a significant drop in battery hardware resale. The company also initiated an "at-the-market" equity offering program to sell up to $30.0 million in common stock and agreed to sell its Logan Energy Storage ULC subsidiary for approximately $1.4 million.
Key Highlights
- Net loss improved to $(18.9) million in Q1 2026 from $(25.0) million in Q1 2025.
- Total revenue decreased 10.8% to $29.0 million in Q1 2026 from $32.5 million.
- PowerTrack software revenue increased 16% to $10.3 million.
- Battery hardware resale revenue was $0 in Q1 2026, down from $4.5 million.
- Operating cash flow was $(8.3) million in Q1 2026, compared to $8.5 million in Q1 2025.
- Launched $30.0 million "at-the-market" equity offering program.
- Agreed to sell Logan Energy Storage ULC for $1.4 million, recognizing $3.3 million impairment.