---
schema_version: "secwatch.filing_event.v1"
accession: "0001758766-23-000127"
form_type: "8-K"
ticker: "STEM"
cik: "0001758766"
company_name: "STEM, INC."
filed_at: "2023-11-02T23:59:59+00:00"
generated_at: "2026-06-09T00:42:29.985042+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Stem Q3 revenue +34% to $133.7M, record bookings $676M; net loss widens to $77M

## Summary
- Q3 revenue $133.7M (+34% YoY); GAAP gross margin (15)% vs 9%; net loss $77.1M vs $34.3M.
- Record bookings of $676.4M (up 203% YoY); contracted backlog $1.84B (+125% YoY).
- Adjusted EBITDA improved to $(0.9)M from $(12.5)M; expects positive adjusted EBITDA in 2H 2023 and full year 2024.
- Contracted storage AUM 5.0 GWh (up 32% sequentially); CARR $87.5M (+43% YoY).
- Revenue includes $37.4M reduction due to guarantee estimates; no material future reductions expected.

## SEC filing metadata
- accession: 0001758766-23-000127
- form_type: 8-K
- ticker: STEM
- cik: 0001758766
- company_name: STEM, INC.
- filed_at: 2023-11-02T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1758766/000175876623000127/0001758766-23-000127-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1758766/000175876623000127/stem-20231102.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001758766-23-000127
- JSON: https://secwatch.observer/filing/0001758766-23-000127.json
- Plain text: https://secwatch.observer/filing/0001758766-23-000127.txt

## Key facts
- Earnings Releases
  STEM, INC. reported the quarter ended September 30, 2023 results: revenue $133.7 million, net income $77.1 million. Guidance lowered.
  - Period: the quarter ended September 30, 2023
  - Revenue: $133.7 million
  - Net income: $77.1 million
  - Guidance: lowered
  - Result: reported results
  source text: manufacturers, with expected double-digit declines in costs and improved payment terms Third Quarter 2023 Financial and Operating Highlights Financial Highlights • Revenue of $133.7 million, up from $99.5 million (+34%) in Q3 2022. Q3 revenue reflects the reduction in revenue referred to below • GAAP gross margin of (15)%, down from 9% in Q3 2022 • Non-GAAP gross
  evidence_url: https://www.sec.gov/Archives/edgar/data/1758766/000175876623000127/0001758766-23-000127-index.htm

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