---
schema_version: "secwatch.filing_event.v1"
accession: "0001758766-24-000027"
form_type: "8-K"
ticker: "STEM"
cik: "0001758766"
company_name: "STEM, INC."
filed_at: "2024-02-28T23:59:59+00:00"
generated_at: "2026-06-05T09:09:19.424335+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Stem posts Q4 revenue up 8% YoY, achieves positive adjusted EBITDA of $4.6M; guides 2024 operating cash flow > $50M

## Summary
- Q4 revenue $167.4M (+8% YoY); net loss $37.7M vs $35.3M loss in Q4 2022.
- Adjusted EBITDA turned positive at $4.6M in Q4, vs $(9.5)M loss in prior year.
- Full year 2023 revenue $461.5M (+27% YoY); net loss $140.4M vs $124.1M.
- Contracted backlog $1.9B, up 99% YoY; CARR $91M, up 39% YoY.
- 2024 guidance: positive adjusted EBITDA $5-20M; at least $50M operating cash flow; no equity issuance.

## SEC filing metadata
- accession: 0001758766-24-000027
- form_type: 8-K
- ticker: STEM
- cik: 0001758766
- company_name: STEM, INC.
- filed_at: 2024-02-28T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1758766/000175876624000027/0001758766-24-000027-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1758766/000175876624000027/stem-20240228.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001758766-24-000027
- JSON: https://secwatch.observer/filing/0001758766-24-000027.json
- Plain text: https://secwatch.observer/filing/0001758766-24-000027.txt

## Key facts
- Earnings Releases
  STEM, INC. reported the fourth quarter and full year 2023 results: revenue $461.5 million, net income $140.4 million. Guidance raised.
  - Period: the fourth quarter and full year 2023
  - Revenue: $461.5 million
  - Net income: $140.4 million
  - Guidance: raised
  - Result: reported results
  source text: versus $(9.5) million in Q4 2022 • Ended Q4 2023 with $113.6 million in cash, cash equivalents, and short-term investments Financial Highlights - Full Year 2023 • Revenue of $461.5 million, up from $363.0 million (+27%) for full year 2022 • GAAP gross margin of 1%, versus 9% for full year 2022 • Non-GAAP gross margin of 15%, versus 13% for full year 2022 • Net loss
  evidence_url: https://www.sec.gov/Archives/edgar/data/1758766/000175876624000027/0001758766-24-000027-index.htm

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