Stem Inc Stock Price, News & Analysis

Stem (NYSE: STEM) reported record financial results for Q3 2021, achieving revenues of $39.8 million, marking a 334% increase YoY. The company experienced a positive gross margin of 8%, compared to a negative 19% in Q3 2020. Net income reached $115.6 million, significantly up from a loss of $18.8 million last year, primarily due to a non-cash warrant revaluation. The company ended the quarter with $576 million in cash and zero debt. Its 12-month pipeline grew to $2.4 billion, and bookings surged 183% to $104 million.

Stem, Inc. (NYSE: STEM) will hold a conference call on November 9, 2021, at 5:00 p.m. ET to discuss its financial results for the quarter ending September 30, 2021. A press release containing these results will be issued at approximately 4:05 p.m. ET on the same day. The call will be accessible via a live webcast and by telephone for both domestic and international participants. A replay will be available for one week after the call.

Stem, Inc. (NYSE: STEM) has expanded its Athena® smart energy software to support seven value streams for project developers in ISO-New England. The enhancements include Athena Supervisor and Athena Bidder, which automate market participation and optimize revenue for front-of-meter and behind-the-meter projects. Recent achievements include automated participation in day-ahead and real-time energy markets, as well as new offerings for CAISO, ERCOT, and PJM markets, enhancing revenue potential. The company aims for increased market value and returns for customers through advanced AI-driven solutions.

Stem (NYSE: STEM) and Copec have launched South America’s first virtual power plant (VPP) and completed a smart energy storage system in Chile. This partnership, established in July 2020, aims to optimize energy use and reduce costs. Stem’s Athena® software will integrate local grid data to enable efficient power usage and enhance resilience for commercial and industrial customers. The VPP will provide stability during peak demand, supporting Chile's goal of 70% renewable energy by 2030. This project positions Copec as a leader in smart grid technology.

Stem, Inc. (NYSE: STEM), a leader in AI-driven energy storage, announced its participation in the Barclays CEO Energy-Power Conference on September 9, 2021. The event will be virtual, and an investor presentation will be available on the Company’s Investor Relations website on the same date. Stem's innovative solutions integrate advanced energy storage with its AI-powered platform, Athena, enabling businesses to optimize energy usage and achieve sustainability goals. This initiative supports companies in enhancing their energy infrastructure while promoting environmental responsibility.

Penske Truck Leasing is advancing its fleet electrification efforts by piloting Stem, Inc.'s Athena® smart energy storage software. This initiative includes a 350 kW/800 kWh battery system at charging locations in Ontario, California. Since starting the pilot in April 2021, the system has led to a 40% reduction in peak energy consumption at Penske's sites. The collaboration aims to optimize energy use and reduce costs for commercial electric truck charging, supported by incentives from California's air quality programs.

Stem, Inc. announced the redemption of all outstanding public warrants with a redemption price of $0.01 per warrant. The warrants will cease trading on September 17, 2021, and will be delisted from the NYSE on the Redemption Date of September 20, 2021. Holders of the warrants have until 5:00 p.m. NY time on the Redemption Date to exercise them. The company has met the necessary conditions for redemption, with the common stock closing above $18.00 for 20 trading days prior to August 17, 2021.

Stem, Inc. (NYSE:STEM) reported its Q2 2021 results, revealing a substantial 339% increase in revenues to $19.3 million from $4.4 million year-over-year. The company improved its Non-GAAP Gross Margin to 11%, up from 5% the previous year, though it posted a net loss of $(100.2 million), primarily due to non-cash charges. Stem ended the quarter with $474 million in cash and no debt. The 12-month pipeline grew to $1.7 billion, while contracted backlog rose 13% to $250 million, indicating strong future potential.

Stem, Inc. (NYSE: STEM) announced a conference call on August 11, 2021, at 5:00 p.m. ET to discuss its financial results for Q2 2021, ending June 30, 2021. A press release with financial details will precede the call at 4:05 p.m. ET. Stakeholders can join the call via a live webcast on Stem's Investor Relations website or by phone at 877-705-6003 (international: 201-493-6725). The call's replay will be accessible for one month post-event. Stem leverages AI for energy storage solutions, aiding businesses in optimizing energy use and achieving sustainability goals.