secwatch.observer — SEC 8-K summary
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Issuer:     STEM, INC. (STEM)
CIK:        0001758766
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001758766-23-000076
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1758766/000175876623000076/0001758766-23-000076-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1758766/000175876623000076/stem-20230504.htm
  HTML page:      https://secwatch.observer/filing/0001758766-23-000076

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer