Stem, Inc.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $156.3M | $144.6M | $461.5M | $363.0M | $127.4M | $36.3M | $17.6M |
| Cost of Revenue | — | $96.3M | $155.6M | $457.9M | $329.9M | $126.1M | $40.2M | $20.8M |
| Gross Profit | — | $60.0M | $-11.1M | $3.7M | $33.1M | $1.2M | $-3.9M | $-3.3M |
| Gross Margin | — | 38.4% | -7.6% | 0.8% | 9.1% | 1.0% | -10.8% | -18.6% |
| Operating Expenses | ||||||||
| Research & Development | — | $35.3M | $51.3M | $56.5M | $38.3M | $22.7M | $15.9M | $14.7M |
| SG&A Expense | — | $51.6M | $88.1M | $74.9M | $77.0M | $41.6M | $14.7M | $12.4M |
| Operating Income | — | $-55.7M | $-839.5M | $-179.3M | $-131.1M | $-83.1M | $-49.4M | $-47.9M |
| Operating Margin | — | -35.6% | -580.6% | -38.9% | -36.1% | -65.2% | -136.0% | -272.6% |
| Interest Expense | — | — | — | $15.0M | $10.5M | $17.4M | $20.8M | $12.5M |
| Pretax Income | — | $138.3M | $-853.7M | $-140.0M | $-139.2M | $-101.2M | $-156.1M | $-59.4M |
| Income Tax Expense | — | $536.0K | $332.0K | $433.0K | $-15.2M | $0 | $5.0K | $6.0K |
| Net Income | — | $137.8M | $-854.0M | $-140.4M | $-124.1M | $-101.2M | $-156.1M | $-59.4M |
| Net Margin | — | 88.2% | -590.7% | -30.4% | -34.2% | -79.5% | -430.0% | -338.5% |
| EPS (Basic) | — | $16.52 | $-105.80 | $-18.05 | $-0.81 | $-0.96 | $-1.38 | $-0.50 |
| EPS (Diluted) | — | $-9.18 | $-105.80 | $-18.05 | $-0.81 | $-0.96 | $-1.38 | $-0.50 |
| Shares Outstanding (Basic) | 8.5M | 8.3M | 8.1M | 7.8M | 153.4M | 105.6M | 120.2M | 128.4M |
| Shares Outstanding (Diluted) | 8.5M | 8.5M | 8.1M | 7.8M | 153.4M | 105.6M | 120.2M | 128.4M |
| Dividends Per Share | — | — | — | — | — | — | — | — |