Highest-materiality recent filing
Stem shareholders approve 425k-share increase in 2024 Equity Incentive Plan at annual meeting
All three Class II director nominees (Birns, Daley, Tammineedi) elected with majority of votes cast.
Revenue $29.0M (-11% YoY); software/services/edge hardware revenue $29.0M (+4% YoY).
Stem, Inc. dismisses Deloitte & Touche, appoints RSM as new auditor effective Q1 2026
Audit Committee dismissed Deloitte & Touche on March 12, 2026; no adverse opinions on prior financials.
Stem enters $30M at-the-market equity offering with Jefferies
Enters Open Market Sales Agreement with Jefferies LLC to sell up to $30M of common stock at prevailing market prices.
Stem achieves first positive annual adjusted EBITDA in FY25; guides to 85% growth in FY26
FY25 revenue $156.3M (+8% YoY); net income $137.8M vs loss $854.0M; adjusted EBITDA $6.7M (first positive annual).
Stem securities class action dismissed with prejudice by federal court
U.S. District Court for N.D. California dismissed all claims in In re Stem, Inc. Sec. Litig. (Case No. 23-CV-02329-MMC) on Dec 17, 2025.
Stem appoints Jeffrey Cabot as CAO; Rahul Shukla steps down effective Dec 19
Rahul Shukla and Stem mutually agree he will step down as Chief Accounting Officer, effective Dec 19, 2025; separation agreement being negotiated.
Stem appoints CEO Arun Narayanan to Board; board size increased to 8
Board increased from seven to eight directors; Arun Narayanan appointed Class I Director effective Dec. 1, 2025.
Stem Q3 2025: revenue $38M (+31% YoY), adjusted EBITDA positive $2M, ARR $60M (+17% YoY)
Revenue $38.2M, up 31% YoY; GAAP gross margin 35% (vs 21% in 3Q24).
Stem reduces stockholder meeting quorum to one-third of voting power
Board approved amendment to Bylaws on October 15, 2025, reducing quorum from majority to one-third of outstanding voting power.
Stem launches PowerTrack EMS, rebrands Athena to Optimizer, unifies brand
Launched PowerTrack EMS on Sept. 2, delivering 32% reduction in engineering hours and 99.99% controller reliability.
Stem Q2 revenue $38.4M (+13% YoY); positive adjusted EBITDA of $3.8M; net income $202.5M
Revenue $38.4M, up 13% YoY; GAAP net income $202.5M vs net loss $582.3M in Q2 2024.
Stem discloses CFO Hole's separation terms: $475k cash, advisor agreement for RSU vesting
Cash payment of $475,000 (12 months base salary), pro rata FY2025 bonus, and COBRA reimbursement up to 9 months.
Stem appoints Brian Musfeldt as CFO effective July 17, correcting options award in prior filing
CFO Doran Hole steps down effective July 17, 2025; serves as advisor through July 31.
Stem appoints Brian Musfeldt as CFO effective July 17; Doran Hole steps down
Brian Musfeldt named CFO; previously CFO of AlsoEnergy (acquired by Stem in 2022) and most recently CFO of ikeGPS.
Stem exchanges $350M convertible notes for $155M new notes, reduces debt ~$195M
Exchanged $229M of 0.50% 2028 notes (77% of outstanding) and $121M of 4.25% 2030 notes (51% of outstanding).
Stem approves 1-for-20 reverse stock split, authorized shares cut to 250M, effective June 23
Reverse split ratio of 1-for-20; effective 12:01 a.m. ET on June 23, 2025.
Stockholders approve reverse stock split (10:1-20:1) and reduce authorized shares
Reverse stock split approved: 77.1M for, 11.3M against; ratio 10:1 to 20:1 inclusive.
Stem Q1 revenue $32.5M (+27% YoY); first positive operating cash flow in history
GAAP gross margin 32% vs (95)% in 1Q24; non-GAAP gross margin 46% vs 24%.
Stem cuts 27% of workforce; expects $6M-$6.5M severance costs, $30M annual savings
Reduction in force of ~27% of global full-time employees, announced April 9, 2025.
Stem discloses separation terms with ex-CEO Carrington: $600K cash, COBRA, accelerated RSUs
Cash payment of $600,000 (12 months base salary) plus COBRA premium reimbursements up to 12 months.
Stem appoints Krishna Shivram and Vasu Guruswamy to Board effective March 17, 2025
Krishna Shivram appointed Class I director; brings corporate finance and M&A expertise; serves on boards of RNGR and ALSN.
Stem Inc. COO Michael Carlson transitions to President of Managed Services
Michael Carlson, former COO, becomes President of Managed Services effective March 6, 2025.
Q4 revenue $55.8M (-67% YoY); GAAP gross margin (4)% vs 7% in Q4 2023.
Director Gerard Cunningham resigns from Stem board effective Feb 28, 2025
Gerard Cunningham notified the Board of his resignation on Feb 25, 2025, effective Feb 28.
Stem details separation terms for ex-CFO Bush: $318,750 severance, equity forfeiture
Cash severance of $318,750 (9 months base salary) plus pro rata FY2024 bonus based on actual board-determined performance.
Stem director Jane Woodward resigns from board effective Jan 31, 2025
Jane Woodward notified Stem's board of her resignation effective January 31, 2025, for personal reasons.
Stem appoints Arun Narayanan as CEO effective Jan 27, 2025; Buzby stays Board Chair
Arun Narayanan, former CEO of RES Digital Solutions, named CEO; succeeds David Buzby as Interim CEO.
Stem Q3 revenue falls 78% to $29.3M; net loss $148.3M; revises FY2024 guidance
Revenue $29.3M (down 78% YoY); GAAP gross margin 21% (vs -15% YoY) on shift to software/services.
Stem announces new software and services-centric strategy, reducing hardware reliance
Shift to software and services for predictable, recurring, high-margin revenue; de-emphasizes hardware resale.
Stem CEO John Carrington steps down; David Buzby named interim CEO
John Carrington stepped down as CEO and Board member effective Sept 11, 2024; will serve as advisor through Dec 31, 2024.
Stem receives NYSE notice for low share price; has 6-month cure period
NYSE notified Stem on Aug 28, 2024 that its avg closing price fell below $1.00 over 30 consecutive trading days.
Director Michael C. Morgan resigns from Stem board effective Oct 7, 2024
Michael C. Morgan notified board of resignation on August 8, 2024, effective October 7, 2024.
Stem appoints Doran Hole as CFO, David Buzby as Executive Chair; launches strategic review
Doran Hole named CFO and EVP effective Sept 2, 2024; succeeds Bill Bush who steps down but remains in other roles.
Stem Q2 revenue down 63% YoY, net loss $582M on $547M goodwill impairment; cuts FY2024 guidance
Revenue $34.0M ($93.0M in 2Q23); GAAP net loss $582.3M vs income $19.1M from $547M non-cash goodwill impairment.
Stem Inc. CRO Alan Russo resigns effective July 12; no replacement planned due to sales realignment
Alan Russo resigns as Chief Revenue Officer, effective July 12, 2024.
Stem Inc. annual meeting results: officer exculpation amendment fails
Proposal 5 (officer exculpation) did not pass; received 54.2M for, 8.3M against, needed 66.7% of outstanding shares.
Stem Q1 revenue down 62% to $25.5M; net loss $72.3M; reaffirms FY guidance
Revenue $25.5M, down 62% YoY, reflecting $33M non-cash reduction from updated contract guarantee estimates.
Stem appoints Gerard Cunningham to Board; former McKinsey partner with AI/clean tech focus
Gerard Cunningham appointed as Class I director effective April 19, 2024.
Stem Inc. amends 8-K to detail separation terms for retiring division President Robert Schaefer
Robert Schaefer, President of Behind-the-Meter Division, retires effective May 3, 2024; serves as consultant through Feb 2, 2025.
Stem's Behind the Meter Division President Robert Schaefer to retire effective May 3, 2024
Robert Schaefer, President of Stem's Behind the Meter Division, notified retirement effective May 3, 2024.
Q4 revenue $167.4M (+8% YoY); net loss $37.7M vs $35.3M loss in Q4 2022.
appointed (i) Mr. Krishna Shivram to the Board as a Class I director and (ii) Mr. Vasudevan (Vasu) Guruswamy to the Board as a Class III director, both effective March 17, 2025.
appointed (i) Mr. Krishna Shivram to the Board as a Class I director and (ii) Mr. Vasudevan (Vasu) Guruswamy to the Board as a Class III director, both effective March 17, 2025.
Effective March 6, 2025, Michael Carlson, formerly the Company’s Chief Operating Officer, has changed roles and assumed the position of President, Managed Services.
On February 25, 2025, Gerard Cunningham notified the Board of Directors (the “Board”) and the Corporate Secretary of Stem, Inc. (the “Company”) of his resignation from the Board effective February 28, 2025 for personal reasons.
On January 30, 2025, the Company and Mr. Bush entered into a Separation and Release of Claims Agreement (the “Separation Agreement”), pursuant to which Mr. Bush is entitled to receive the following payments and benefits in accordance with the existing terms of his employment agreement with the Company:
On January 17, 2025, Jane Woodward notified the Board of Directors (the “Board”) and the Corporate Secretary of Stem, Inc. (the “Company”) of her resignation from the Board effective January 31, 2025 for personal reasons.
Effective January 27, 2025, Mr. Buzby will serve as the non-executive Chair of the Board.
On January 16, 2025, Stem, Inc. (the “Company”) announced that the Company’s board of directors (the “Board”) has appointed Mr. Arun Narayanan, age 50, as the Company’s Chief Executive Officer (“CEO”), effective January 27, 2025.
the Board appointed the Board’s current Chairman and Executive Chair, Mr. David Buzby, age 64, as the Company’s interim Chief Executive Officer (“Interim CEO”), effective September 11, 2024.
Mr. John Carrington stepped down as Chief Executive Officer of the Company and as a member of the Company’s board of directors (the “Board”), effective September 11, 2024.
On August 8, 2024, Michael C. Morgan notified the Board of Directors (the “Board”) and the Corporate Secretary of Stem, Inc. (the “Company”) of his resignation from the Board effective October 7, 2024 for personal reasons.
the Company appointed David Buzby, age 64, as Executive Chair of the Board of Directors (the “Board”) of the Company, effective immediately.
Max materiality 0.85 · Median 0.60 · Most common event leadership