---
schema_version: "secwatch.filing_event.v1"
accession: "0001758766-23-000076"
form_type: "8-K"
ticker: "STEM"
cik: "0001758766"
company_name: "STEM, INC."
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T22:33:57.791834+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Stem Q1 2023 revenue $67M (+63% YoY), above high end of guidance; reaffirms FY2023 outlook

## Summary
- Record Q1 revenue of $67.4M, up 63% YoY; above guidance high end.
- GAAP net loss widened to $44.8M from $22.5M YoY; Adjusted EBITDA -$13.7M.
- Non-GAAP gross margin improved to 19% (vs 16% YoY); GAAP gross margin fell to 1%.
- Bookings $363.5M (+141% YoY); contracted backlog $1.24B (+120% YoY).
- CARR grew 39% YoY to $71.5M; FY2023 revenue and adjusted EBITDA guidance reaffirmed.

## SEC filing metadata
- accession: 0001758766-23-000076
- form_type: 8-K
- ticker: STEM
- cik: 0001758766
- company_name: STEM, INC.
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1758766/000175876623000076/0001758766-23-000076-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1758766/000175876623000076/stem-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001758766-23-000076
- JSON: https://secwatch.observer/filing/0001758766-23-000076.json
- Plain text: https://secwatch.observer/filing/0001758766-23-000076.txt

## Key facts
- Earnings Releases
  STEM, INC. reported the three months ended March 31, 2023 results: revenue $67 million, net income $45 million. Guidance reaffirmed.
  - Period: the three months ended March 31, 2023
  - Revenue: $67 million
  - Net income: $45 million
  - Guidance: reaffirmed
  - Result: reported results
  source text: Stem Announces First Quarter 2023 Results Record First Quarter Revenue of $67 million , Above High End of Guidance Range Accelerating Growth in Software Services Reaffirm Full-Year 2023 Financial and Operating Guidance Recognized as Largest Energy Storage Virtual Power Plant Operator in North America by Wood Mackenzie First Quarter 2023 Financial and Operating Highlights Financial Highlights • Record Q1 revenue of $67 million, up from $41 million (+63%) in Q1 2022 • GAAP gross margin of 1%, down from 9% in Q1 2022 • Non-GAAP gross margin of 19%, up from 16% in Q1 2022 • Net loss of $45 million versus net loss of $22 million in Q1 2022 • Adjusted EBITDA of $(14) million versus $(13) million in Q1 2022 • Ended the quarter with $206 million in cash, cash equivalents, and short-term investments
  evidence_url: https://www.sec.gov/Archives/edgar/data/1758766/000175876623000076/0001758766-23-000076-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.