secwatch.observer — SEC 8-K summary
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Issuer:     STEM, INC. (STEM)
CIK:        0001758766
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0001758766-23-000127
Event type: earnings
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1758766/000175876623000127/0001758766-23-000127-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1758766/000175876623000127/stem-20231102.htm
  HTML page:      https://secwatch.observer/filing/0001758766-23-000127

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