Highest-materiality recent filing
Revenue $29.0M (-11% YoY); software/services/edge hardware revenue $29.0M (+4% YoY).
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 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 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 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.
Q4 revenue $55.8M (-67% YoY); GAAP gross margin (4)% vs 7% in Q4 2023.
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.
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 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.
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