Welcome to our dedicated page for Stem news (Ticker: STEM), a resource for investors and traders seeking the latest updates and insights on Stem stock.
News about Stem, Inc. (NYSE: STEM) focuses on its role in AI-enabled clean energy software, edge products, and services that support solar, energy storage, and hybrid projects. Company announcements highlight the evolution of its PowerTrack software suite, including PowerTrack Energy Management System (EMS) and PowerTrack Optimizer, and how these platforms are applied across commercial, industrial, and utility-scale portfolios.
Investors and observers following STEM news will see regular updates on quarterly financial results, including revenue trends, gross margins, and recurring revenue metrics such as ARR and CARR, as reported in earnings releases and accompanying Form 8-K filings. These releases also discuss the company’s software-focused strategy, cost initiatives, and changes in its capital structure, such as exchanges of convertible notes and reverse stock split actions.
Stem’s news flow also covers product launches and platform enhancements, such as the introduction of PowerTrack EMS for standalone and hybrid storage control and the rebranding of the Athena platform to PowerTrack Optimizer. Project-related news includes deployments like the Camino Solar project in California, where Stem’s PowerTrack Power Plant Controller and data acquisition systems were implemented to meet technical grid standards and support grid integration.
Additional updates may involve regional expansion, such as the growth of the Berlin competence center to support EMEA utility-scale projects, as well as partnerships with asset owners, developers, and utilities. Governance and leadership developments, including executive appointments and board changes, are typically disclosed through press releases and SEC filings. For users tracking STEM news, this page aggregates these earnings announcements, product updates, project milestones, and corporate actions in one place.
Stem, Inc. (NYSE: STEM) has appointed Matt Tappin as Vice President of Corporate Development, enhancing its executive team as it pushes forward with its inorganic growth strategy. Tappin brings extensive experience from Royal Dutch Shell and Centrica, focusing on corporate strategy and mergers and acquisitions (M&A). His expertise aligns with Stem's objectives amidst growing demand for energy storage solutions driven by governmental and corporate sustainability commitments. CEO John Carrington emphasizes Tappin's role in leveraging Stem’s robust balance sheet to capitalize on strategic opportunities.
Stem, Inc. (NYSE: STEM) announced the appointment of Saul Laureles as Chief Legal Officer and Corporate Secretary. With over 20 years of legal and strategic experience, Laureles will oversee the Company's global legal function, including corporate governance and M&A compliance. Formerly at Schlumberger, he managed legal matters affecting corporate governance and securities law. CEO John Carrington expressed confidence in Laureles’ leadership during this critical phase for Stem. Laureles aims to support Stem’s growth strategy as it transitions into a newly-public entity.
Stem, a leader in AI-driven clean energy storage, reported Q1 2021 revenues of $15.4 million, a 275% increase from $4.1 million last year. Gross Margin improved significantly with a Non-GAAP Gross Margin of 19%. However, net losses rose to $(82.6 million) due to a $66 million non-cash charge. Contracted Backlog grew to $221 million, supported by strong bookings growth of 150% year-over-year. The company reaffirmed its 2021 revenue guidance of $147 million and has a robust pipeline worth $1.43 billion.