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STEM · NYSE · Renewable Utilities

Stem

Operates PowerTrack software and services for clean-energy assets.

$5.51

After-hours close+0.08 (+1.44%)

At close$5.43(−4.74%)

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Profile

Stem, Inc.STEMUtilities

Sells PowerTrack software, edge hardware, project and professional services, and managed services for solar, storage, and hybrid assets. Revenue is predominantly tied to U.S. customer locations, while operations expanded internationally through the AlsoEnergy acquisition.

Combines PowerTrack Software, Energy Management System, SCADA, Power Plant Controller, Logger, and Optimizer offerings for solar, storage, and hybrid assets. Project and professional services, managed services, edge hardware, and selective battery-hardware resale complement the software suite.

Built from Athena's storage optimization and AlsoEnergy's solar monitoring and control, the portfolio helps asset owners and operators develop, deploy, and operate clean-energy assets. Software is hardware-agnostic, and edge hardware is OEM-agnostic.

Revenue is predominantly associated with U.S. customer locations, although operations expanded internationally through AlsoEnergy. Battery hardware is procured only when it meets profitability, working-capital, and software or edge-device conditions.

Company facts

CEOArun Narayanan

ListedApr 29, 2021

ExchangeNYSE

HeadquartersHouston, TX

CountryUnited States

Employees423

CIK0001758766

ISINUS85859N3008

Key statistics

Market cap$48.7M

EPS (ttm)−$8.52

P/E (ttm)−0.6385

ROE28.6%

P/B−0.1836

P/S0.3292

Dividend yield—

Beta4.05vs XLU 0.43

Year to date −68.0% · Average volume (30d) 123.5K

Analysts

Price target, next 12 months$7.50+37.9%Median of 17 analysts · vs the Aug 28 close

ConsensusHold5 of 17 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $5.44

High$8.00+47.1%

Median$7.50+37.9%

Low$6.75+24.1%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Rating	Prior target	Target
Aug 17, 2026	Roth Capital	Reiterate	Neutral	$11	$6.75
Aug 14, 2026	UBS	Reiterate	Neutral	$10.50	$7
Jul 27, 2026	New Street	Target			$8
Jul 27, 2026	Barclays	Reiterate	Equal Weight	$18	$8
Jul 10, 2026	Susquehanna	Reiterate	Neutral	$10	$7.50

Earnings

EPS

Estimate−$1.57

ReportedDue Oct 28, 2026

Revenue

Estimate$40.3M

ReportedDue Oct 28, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
Aug 12, 2026Q2 FY26	−$1.75	−$1.58	+9.7%	$36.6M	$33.7M	−8.0%	+14.50%
May 6, 2026Q1 FY26	−$2.06	−$2.22	−7.8%	$34.6M	$29.0M	−16.2%	−19.98%
Mar 4, 2026Q4 FY25	−$2.17	−$1.85	+14.8%	$39.0M	$47.2M	+20.9%	+21.19%
Oct 29, 2025Q3 FY25	−$1.85	−$2.84	−53.5%	$43.6M	$38.2M	−12.4%	−26.67%

View details

Financial highlights

	Q1 FY25	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26
Revenue	$32.5M	$38.4M	$38.2M	$47.1M	$29.0M	$33.7M
Gross profit	$10.5M	$12.8M	$13.6M	$18.2M	$10.9M	$13.9M
Operating income	−$21.1M	−$13.3M	−$12.9M	−$13.1M	−$10.9M	−$7.7M
Net income	−$25.0M	$202.5M	−$23.8M	−$16.0M	−$18.9M	−$14.4M
Diluted EPS	−$3.05	−$1.79	−$2.84	−$1.88	−$2.22	−$1.58
Gross margin	32.4%	33.4%	35.5%	38.7%	37.4%	41.3%
Operating margin	-65.0%	-34.8%	-33.6%	-27.9%	-37.6%	-22.8%

Fiscal years (4-quarter sums)FY21 $127.4M · FY22 $363.0M · FY23 $461.5M · FY24 $144.6M · FY25 $156.3M

Revenue by product · Q2 FY26

Service$18.6M · 55%

Hardware$15.0M · 45%

Revenue by geography · Q2 FY26

United States$32.3M · 96%

Non-US$1.4M · 4%

Balance sheet, Jun 30, 2026Cash & short-term investments $38.4M · Total debt $366.5M · Total assets $279.8M · Shareholders' equity −$270.0M

Dividends

No dividends on record.

Ownership

Institutions 24.60%2.20M sharesInsiders 2.48%222.4K sharesOther 72.92%6.53M shares

Shares outstanding 8.96M · Float 8.66M · 96.6% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
Marshall Wace, LLP	405.6K	4.53%	13F	Aug 13, 2026
Vanguard Capital Management LLC	361.2K	4.03%	13F	Aug 13, 2026
BlackRock, Inc.	164.5K	1.84%	13F	Aug 7, 2026
Trexquant Investment LP	110.6K	1.24%	13F	Aug 14, 2026
Two Sigma Investments, LP	103.2K	1.15%	13F	Aug 14, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Jul 20, 2026	Brian Musfeldt	officer: Chief Financial Officer	−996	$6.11
Jul 2, 2026	Arun Narayanan	officer: Chief Executive Officer	−1,996	$7.85
Jul 2, 2026	Michael James Carlson	officer: President, Managed Services	−1,347	$7.85
Jul 2, 2026	Matthew Tappin	officer: President, Software Products	−996	$7.85
Jul 2, 2026	Saul R. Laureles	officer: Chief Legal Officer	−675	$7.85