---
schema_version: "secwatch.filing_event.v1"
accession: "0001758766-24-000147"
form_type: "8-K"
ticker: "STEM"
cik: "0001758766"
company_name: "STEM, INC."
filed_at: "2024-08-06T23:59:59+00:00"
generated_at: "2026-05-31T12:21:29.992451+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Stem Q2 revenue down 63% YoY, net loss $582M on $547M goodwill impairment; cuts FY2024 guidance

## Summary
- Revenue $34.0M ($93.0M in 2Q23); GAAP net loss $582.3M vs income $19.1M from $547M non-cash goodwill impairment.
- Adjusted EBITDA -$11.3M vs -$9.5M; bookings $25.4M, down 89% from $236.4M; CARR $90.1M (+20% YoY).
- Full year 2024 guidance revised lower; expects positive operating cash flow and no need for equity raise.
- CFO Bill Bush steps down September 2, 2024; Doran Hole appointed as successor in planned succession.
- Ended 2Q24 with $89.6M cash; operating cash flow -$11.9M vs -$165.4M in 2Q23.

## SEC filing metadata
- accession: 0001758766-24-000147
- form_type: 8-K
- ticker: STEM
- cik: 0001758766
- company_name: STEM, INC.
- filed_at: 2024-08-06T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1758766/000175876624000147/0001758766-24-000147-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1758766/000175876624000147/stem-20240806.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001758766-24-000147
- JSON: https://secwatch.observer/filing/0001758766-24-000147.json
- Plain text: https://secwatch.observer/filing/0001758766-24-000147.txt

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