Stem Q3 revenue $99.5M (record, +150% YoY); net loss $34.3M; reaffirms FY2022 guidance

STEM, INC.

2022-Q3 EPS reported -$0.58 revenue$207,536,000

Record Q3 revenue $99.5M, above high end of guidance, up 150% YoY from $39.8M.
GAAP net loss $34.3M vs net income $115.6M in Q3 2021; Adjusted EBITDA -$12.5M vs -$6.5M.
Contracted backlog $817M (+162% YoY); bookings $223M (+115%); 12-month pipeline $7.2B.
Reaffirms FY2022 guidance; raises low end of bookings; expects Non-GAAP gross margin toward lower end.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

STEM, INC. reported the three months ended September 30, 2022 results: revenue $99.5, net income $(34.3). Guidance reaffirmed.

Period: the three months ended September 30, 2022
Revenue: $99.5
Net income: $(34.3)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

unless otherwise noted ): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (in millions) (in millions) Key Financial Results Revenue $ 99.5 $ 39.8 $ 207.5 $ 74.6 GAAP Gross Margin $ 9.1 $ 3.1 $ 20.5 $ 2.9 GAAP Gross Margin (%) 9 % 8 % 10 % 4 % Non-GAAP Gross Margin* $ 12.4 $ 5.2 $ 30.3 $ 8.7 Non-GAAP Gross Margin (%)*

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Source: SEC EDGAR

accession 0001758766-22-000184

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