Stem Q2 revenue $93M (+39% YoY), net income $19.1M vs loss year ago

STEM, INC.

2023-Q2 EPS reported -$0.17 revenue$160,351,000

Revenue $93.0M, up 39% YoY; GAAP gross margin 13% vs 12% prior year.
Net income of $19.1M vs net loss of $32.0M in Q2 2022; adjusted EBITDA -$9.5M.
Record contracted backlog $1.36B, up 88% YoY; CARR $74.9M, +30% YoY.
Bookings $236.4M, +5% YoY; contracted storage AUM 3.8 GWh, +9% sequentially.
Full-year 2023 guidance reaffirmed; expect positive adjusted EBITDA in H2 2023.

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 June 30, 2023 results: revenue $93.0, net income $19.1. Guidance reaffirmed.

Period: the three months ended June 30, 2023
Revenue: $93.0
Net income: $19.1
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Results and Operating Metrics (in $ millions unless otherwise noted ): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Key Financial Results Revenue $ 93.0 $ 66.9 $ 160.4 $ 108.0 GAAP Gross Profit $ 11.9 $ 7.7 $ 12.9 $ 11.4 GAAP Gross Margin (%) 13 % 12 % 8 % 11 % Non-GAAP Gross Profit* $ 16.4 $ 11.3 $ 31.5 $ 17.9 Non-GAAP Gross

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

STEM, INC. reported the quarter ended June 30, 2023 results: revenue Revenue of $93.0 million, net income Net income of $19.1 million. Guidance reaffirmed.

Period: the quarter ended June 30, 2023
Revenue: Revenue of $93.0 million
Net income: Net income of $19.1 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Act”), except as expressly set forth by specific reference in such a filing. --- EX-99 (EX-99) --- Stem Announces Second Quarter 2023 Results Strong Second Quarter Revenue of $93 million , Above Midpoint of Guidance Range Ameresco (313 MWh) and Hungary (304 MW) Projects Highlight FTM Momentum Technology Leadership Further Recognized by Third-Party Awards Reaffirm

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STEM, INC. filing history →

Source: SEC EDGAR

accession 0001758766-23-000112

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