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Stem, Inc. provides AI-enabled clean energy software, services and edge hardware for energy storage and renewable energy assets. The company’s updates center on its PowerTrack software suite, including energy management, asset monitoring, optimization, utility dispatch, grid coordination and telemetry for battery energy storage systems and solar portfolios.
Recurring news also covers quarterly results, recurring software revenue, gross margin and adjusted EBITDA trends; customer deployments for utility-scale and behind-the-meter storage; partnerships around battery management and control systems; and completed software asset acquisitions that add automated fault detection and event-management capabilities to PowerTrack.
Stem reported strong Q1 2025 financial results with revenue reaching $32.5 million, up 27% year-over-year. The company achieved its first-ever positive operating cash flow of $8.5 million and improved GAAP gross margins to 32%.
Key highlights include:
- Non-GAAP gross profit of $14.8 million with 46% margins
- Net loss narrowed to $25.0 million from $72.3 million in Q1 2024
- Annual Recurring Revenue (ARR) grew 8% to $56.9 million
- Storage operating assets reached 1.6 GWh, up 100% year-over-year
- Solar operating assets increased to 32.4 GW, up 20% year-over-year
The company announced a 27% workforce reduction, expecting $30 million in annual cost savings. Under new CEO Arun Narayanan, Stem reaffirmed its full-year 2025 guidance and reorganized into distinct business units focusing on software, professional services, managed services, and OEM hardware.
World Kinect (NYSE: WKC) has announced key executive promotions, with Ira M. Birns elevated to President while retaining his CFO position, and John P. Rau promoted to Chief Operating Officer. Both executives will continue reporting to Chairman and CEO Michael Kasbar.
Birns, serving as EVP & CFO since 2007, oversees Finance, Credit Risk Management, Corporate Development, and Investor Relations. His background includes roles at Arrow Electronics and board membership at Stem, Inc. He holds a BBA in Public Accounting and maintains CPA and treasury professional certifications.
Rau, previously EVP of Global Aviation, Land and Marine, has been with World Kinect since 2011, managing the company's fuel, energy, and sustainability businesses. His experience includes positions at American Airlines and United Airlines, focusing on jet fuel procurement and trading.
Stem Inc (NYSE: STEM), a global leader in AI-driven clean energy solutions and services, has scheduled its Q1 2025 earnings conference call for Tuesday, April 29, 2025, at 5:00 PM ET. The company will release its financial results for the quarter ending March 31 via press release at approximately 4:05 PM ET.
Investors can access the conference call through a live webcast at the company's investor relations website or via telephone. For those unable to attend live, a replay will be available until May 29, and the webcast recording will be accessible on Stem's website for 12 months.
Stem (NYSE: STEM) has strengthened its Board of Directors with two strategic appointments effective March 17, 2025. Krishna Shivram, Managing Partner at Veritec Capital Partners, joins as Class I director, bringing expertise in corporate finance and M&A. Vasudevan (Vasu) Guruswamy, with 30+ years in energy software leadership, joins as Class III director.
These appointments align with Stem's software-forward strategy and focus on disciplined financial management. Shivram currently serves on boards of Ranger Energy Services and Allison Transmission Holdings, while Guruswamy brings experience as a former global VP of software services for a leading energy technology company.
Board Chairman David Buzby emphasized that these appointments, combined with recent senior executive additions, position Stem to build a world-class energy software company.
Stem (NYSE: STEM) announced that its PowerTrack™ software platform is now standard across Summit Ridge Energy's operating fleet of 200 solar sites, totaling 514 megawatts (MW). The partnership enables Summit Ridge, a leading U.S. commercial solar developer, to optimize performance and management of its growing portfolio.
PowerTrack provides Summit Ridge with capabilities for efficient commissioning, monitoring, optimization, and control of energy assets, offering real-time performance insights, advanced analytics, and customized reporting. The platform's broad compatibility with equipment manufacturers allows seamless integration of diverse systems, while configurable dashboards ensure transparent, data-driven decision making.
This implementation supports Summit Ridge's expansion of distributed energy assets, helping to reduce grid congestion, stabilize energy supply, and provide cost-effective power to homes and businesses amid increasing strains on the U.S. electric grid.
Stem Inc (NYSE: STEM) reported Q4 and full year 2024 results, showing significant shifts in its business model. Q4 revenue declined 67% to $55.8M, while full-year revenue dropped 69% to $144.6M, primarily due to reduced hardware sales following the company's new software-focused strategy.
Q4 highlights include bookings of $357.6M (+40% YoY), Adjusted EBITDA of $4.2M, and cash position of $56.3M. The company reported a Q4 net loss of $51.1M and a substantial full-year net loss of $854.0M, impacted by a $547.2M goodwill impairment.
Notable operational metrics include contracted storage assets of 5.6 GWh and solar monitoring assets of 29.9 GW (+9% YoY). The company secured a significant 484 MW contract in Hungary and targets ~15% ARR growth in 2025 through its software and services-centric strategy.
Stem (NYSE: STEM), an AI-enabled clean energy software and services company, has scheduled its fourth quarter and full-year 2024 earnings conference call for Tuesday, March 4, 2025, at 5:00 p.m. Eastern Time. The company will release its financial results press release at approximately 4:05 p.m. Eastern Time on the same day.
Investors can access the conference call through a live webcast at the company's investor relations website or via telephone. A replay will be available until April 4, 2025, and the webcast archive will be accessible on Stem's website for 12 months following the call.
Stem (NYSE: STEM) has appointed Arun Narayanan as its new Chief Executive Officer, effective January 27, 2025. This appointment concludes the CEO search announced in September 2024 and advances Stem's transformation to a software and services company. David Buzby will step down as Interim CEO and Executive Chairman but remain Board Chair.
Narayanan brings over 25 years of software technology expertise, having previously served as CEO of RES Digital Solutions, Chief Data Officer at Anglo American, and held various software leadership positions at SLB. His appointment aligns with Stem's strategy to become a leading AI-powered energy software company, complementing the recent addition of Doran Hole as EVP and CFO.
The new CEO's background spans industries including oil and gas and renewable energy, with significant experience in building industry-leading software for global clients. At RES Digital Solutions, Narayanan led software product development and digital transformation initiatives in the renewables sector.
Stem (NYSE: STEM) has secured a five-year agreement to support a 484 megawatt (MW) solar portfolio in Hungary, marking its largest software deal in EMEA. The company will implement its PowerTrack Web solution to monitor, optimize, and control eight utility-scale sites for Neovolt, a major Hungarian asset owner.
The agreement leverages Stem's AI-driven solar monitoring and optimization solutions, building on its existing 720 MWp install base in the region. Stem's involvement began during the portfolio's development phase, providing network design support and implementing best practices from its European solar plant experience. The company collaborated with local EPCs and O&M provider EXTOR Energy to meet commercial operation targets.
PowerTrack Web's deployment includes remote power plant controls, real-time system updates, and security measures to promote Service Organization Controls (SOC) compliance. The system aims to enhance plant performance through flexible SCADA functionalities and improved production forecasting methods.
Stem (NYSE: STEM) announced that Mercuria Energy Trading has expanded its use of PowerBidder™ Pro to a second clean energy asset in ERCOT. The deployment was completed in under 60 days, demonstrating Stem's efficient software-centric strategy. This marks the second Mercuria asset utilizing PowerBidder Pro since Q3 2024.
The software provides automated bidding management, optimization strategies, and real-time performance metrics through intuitive dashboards. Mercuria's trading teams can customize configurations based on energy storage system constraints, contractual obligations, and risk management objectives in response to market conditions.