NYSE: STEM
STEM, INC.CIK 0001758766 · Computer Integrated Systems Design
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Stem stockholders approve 425,000-share equity plan expansion at 2026 annual meeting
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Stem cash drops 38% YoY to $36.6M as new tax law cuts solar credits, debt costs jump 72%
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Stem announces Q1 2026 financial results in routine earnings disclosure
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Stem dismisses Deloitte as auditor, hires RSM US LLP with no disagreements disclosed
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Latest financial statements
From 10-Q filed May 7, 2026 (period ending Mar 31, 2026). SEC XBRL (companyfacts) — not generated by the model.
Consolidated Statements of Operations (Unaudited)
| Description | Q1 ended Mar 31, 2026 | Q1 ended Mar 31, 2025 |
|---|---|---|
| Revenue: | ||
| Total revenue / net sales | 29.0 | 32.5 |
| Cost of revenue / cost of sales | 18.1 | 22.0 |
| Gross profit | 10.9 | 10.5 |
| Operating expenses: | ||
| Sales and marketing | 6.5 | 6.8 |
| Research and development | 6.6 | 11.3 |
| General and administrative | 8.7 | 13.6 |
| Total operating expenses | 25.1 | 31.7 |
| Operating income | (14.2) | (21.1) |
| Interest expense | 7.4 | 4.3 |
| Other income/(expense), net | (4.6) | (3.8) |
| Income before income taxes | (18.8) | (24.9) |
| Income tax expense/(benefit) | 0.1 | 0.06 |
| Net income | (18.9) | (25.0) |
| Basic earnings per share | (2.22) | (3.05) |
| Diluted earnings per share | (2.22) | (3.05) |
Consolidated Balance Sheets (Unaudited)
| Description | Mar 31, 2026 | Mar 31, 2025 |
|---|---|---|
| Current assets: | ||
| Cash and equivalents | 36.6 | 58.6 |
| Accounts receivable, net | 33.3 | 34.7 |
| Prepaid expenses and other current assets | 8.3 | 8.4 |
| Other current assets | 7.1 | 8.8 |
| Total current assets | 85.3 | 110.6 |
| Property, plant and equipment, net | 36.2 | 55.6 |
| Operating lease right-of-use assets, net | 11.3 | 11.9 |
| Identifiable intangible assets, net | 117.3 | 141.9 |
| Deferred income taxes and other assets | 24.6 | 75.7 |
| Other long-term assets | 7.2 | 9.4 |
| TOTAL ASSETS | 281.9 | 405.1 |
| Current liabilities: | ||
| Accounts payable | 7.1 | 19.6 |
| Accrued liabilities | 25.7 | 27.8 |
| Deferred revenue, current | 42.8 | 40.1 |
| Other current liabilities | 25.7 | 32.6 |
| Total current liabilities | 101.3 | 120.2 |
| Operating lease liabilities | 11.0 | 12.5 |
| Deferred income taxes and other liabilities | 0.7 | 35.4 |
| Other long-term liabilities | 434.8 | 653.9 |
| Total liabilities | 547.8 | 822.0 |
| Shareholders' equity: | ||
| Common stock | — | 0.02 |
| Capital in excess of stated value | 1,241 | 1,234 |
| Accumulated other comprehensive income (loss) | 0.2 | 0.3 |
| Retained earnings (deficit) | (1,508) | (1,652) |
| Total shareholders' equity | (266.3) | (417.5) |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 281.9 | 405.1 |
Consolidated Statements of Cash Flows (Unaudited)
| Description | Q1 ended Mar 31, 2026 | Q1 ended Mar 31, 2025 |
|---|---|---|
| Operating Activities: | ||
| Net cash from operating activities | (8.3) | 8.5 |
| Investing Activities: | ||
| Net cash from investing activities | (1.3) | (3.6) |
| Financing Activities: | ||
| Net cash from financing activities | (2.8) | (2.8) |
| Net increase/(decrease) in cash | (12.3) | 2.3 |
Amounts in millions USD; EPS as reported. Line labels are presentation-friendly mappings of filer XBRL tags — not a re-audit of the full statements. Use EDGAR for interactive notes and detail. Interactive statements & notes on EDGAR ↗