---
schema_version: "secwatch.filing_event.v1"
accession: "0001758766-26-000014"
form_type: "8-K"
ticker: "STEM"
cik: "0001758766"
company_name: "STEM, INC."
filed_at: "2026-03-04T23:59:59+00:00"
generated_at: "2026-05-15T21:45:15.069947+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Stem achieves first positive annual adjusted EBITDA in FY25; guides to 85% growth in FY26

## Summary
- FY25 revenue $156.3M (+8% YoY); net income $137.8M vs loss $854.0M; adjusted EBITDA $6.7M (first positive annual).
- Q4 revenue $47.2M (-15% YoY) but non-GAAP gross margin improved to 45% from 36%; Q4 adjusted EBITDA $5.5M.
- FY25 bookings $131.8M (+14%); ARR $61.1M (+16%); solar operating AUM 36.1 GW (+21% YoY).
- FY26 guidance: targeting ~85% adjusted EBITDA growth and ~10% ARR expansion from FY25 levels.

## SEC filing metadata
- accession: 0001758766-26-000014
- form_type: 8-K
- ticker: STEM
- cik: 0001758766
- company_name: STEM, INC.
- filed_at: 2026-03-04T23:59:59+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/1758766/000175876626000014/0001758766-26-000014-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1758766/000175876626000014/stem-20260304.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001758766-26-000014
- JSON: https://secwatch.observer/filing/0001758766-26-000014.json
- Plain text: https://secwatch.observer/filing/0001758766-26-000014.txt

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