Stem reports Q4 and FY2024 results: revenue down 69% YoY, full-year net loss $854M, targets 15% ARR growth in 2025

STEM, INC.

Q4 revenue $55.8M (-67% YoY); GAAP gross margin (4)% vs 7% in Q4 2023.
Full-year net loss $854M vs $140.4M in 2023; includes $38.7M net revenue reduction.
Non-GAAP gross margin improved to 36% (Q4) and 35% (FY) from 13% and 15% respectively.
Q4 bookings $357.6M (+40% YoY); full-year bookings $435.9M (-72%); backlog $1.2B.
Guidance: ~15% ARR growth in 2025; reducing opex to improve EBITDA and cash flow; cash $56.3M.

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