Stem Q3 2025: revenue $38M (+31% YoY), adjusted EBITDA positive $2M, ARR $60M (+17% YoY)

STEM, INC.

2025-Q3 EPS reported -$7.33 revenue$109,123,000

Revenue $38.2M, up 31% YoY; GAAP gross margin 35% (vs 21% in 3Q24).
Net loss narrowed to $23.8M from $148.3M in 3Q24, a $124.5M improvement.
Adjusted EBITDA positive $2.0M, second consecutive quarter; vs $(3.5)M in 3Q24.
ARR $60.2M, up 17% YoY and 3% QoQ, driven by software-focused strategy.
Full-year 2025 guidance being refined and de-risked across nearly all metrics.

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