# Stem, Inc.: financial statements, quarterly

STEM · NYSE · CIK 1758766 · [Technology](/sectors/technology.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/stem.md) · [Financials](/companies/stem/financials.md) · [Filings](/companies/stem/filings.md) · [Insiders](/companies/stem/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/stem/financials.md?period=annual).

## Income statement

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [134](/filings/0001758766-24-000176.md) | [167 d](/filings/0001758766-26-000016.md) | [25.5](/filings/0001758766-25-000012.md) | [34.0](/filings/0001758766-25-000027.md) | [29.3](/filings/0001758766-25-000066.md) | [55.8 d](/filings/0001758766-26-000016.md) | [32.5](/filings/0001758766-26-000045.md) | [38.4](/filings/0001758766-26-000081.md) | [38.2](/filings/0001758766-25-000066.md) | [47.1 d](/filings/0001758766-26-000016.md) | [29.0](/filings/0001758766-26-000045.md) | [33.7](/filings/0001758766-26-000081.md) |
| Cost of revenue | $m | [154](/filings/0001758766-24-000176.md) | [156 d](/filings/0001758766-26-000016.md) | [49.7](/filings/0001758766-25-000012.md) | [24.6](/filings/0001758766-25-000027.md) | [23.1](/filings/0001758766-25-000066.md) | [58.3 d](/filings/0001758766-26-000016.md) | [22.0](/filings/0001758766-26-000045.md) | [25.6](/filings/0001758766-26-000081.md) | [24.7](/filings/0001758766-25-000066.md) | [24.1 d](/filings/0001758766-26-000016.md) | [18.1](/filings/0001758766-26-000045.md) | [19.8](/filings/0001758766-26-000081.md) |
| Gross profit | $m | [(20.3)](/filings/0001758766-24-000176.md) | [11.1 d](/filings/0001758766-26-000016.md) | [(24.2)](/filings/0001758766-25-000012.md) | [9.4](/filings/0001758766-25-000027.md) | [6.2](/filings/0001758766-25-000066.md) | [(2.4) d](/filings/0001758766-26-000016.md) | [10.5](/filings/0001758766-26-000045.md) | [12.8](/filings/0001758766-26-000081.md) | [13.6](/filings/0001758766-25-000066.md) | [23.0 d](/filings/0001758766-26-000016.md) | [10.9](/filings/0001758766-26-000045.md) | [13.9](/filings/0001758766-26-000081.md) |
| Research and development | $m | [14.4](/filings/0001758766-24-000176.md) | [14.5 d](/filings/0001758766-26-000016.md) | [14.1](/filings/0001758766-25-000012.md) | [15.3](/filings/0001758766-25-000027.md) | [11.1](/filings/0001758766-25-000066.md) | [10.8 d](/filings/0001758766-26-000016.md) | [11.3](/filings/0001758766-26-000045.md) | [10.0](/filings/0001758766-26-000081.md) | [6.9](/filings/0001758766-25-000066.md) | [7.1 d](/filings/0001758766-26-000016.md) | [6.6](/filings/0001758766-26-000045.md) | [6.5](/filings/0001758766-26-000081.md) |
| Operating income | $m | [(68.3)](/filings/0001758766-24-000176.md) | [(33.5) d](/filings/0001758766-26-000016.md) | [(68.0)](/filings/0001758766-25-000012.md) | [(580)](/filings/0001758766-25-000027.md) | [(144)](/filings/0001758766-25-000066.md) | [(47.1) d](/filings/0001758766-26-000016.md) | [(21.1)](/filings/0001758766-26-000045.md) | [(13.3)](/filings/0001758766-26-000081.md) | [(12.9)](/filings/0001758766-25-000066.md) | [(8.3) d](/filings/0001758766-26-000016.md) | [(14.2)](/filings/0001758766-26-000045.md) | [(7.7)](/filings/0001758766-26-000081.md) |
| Interest expense | $m | [4.4](/filings/0001758766-23-000129.md) | [4.9 d](/filings/0001758766-24-000029.md) | [4.7](/filings/0001758766-24-000091.md) | [4.6](/filings/0001758766-25-000027.md) | [4.5](/filings/0001758766-25-000066.md) | [4.4 d](/filings/0001758766-26-000016.md) | [4.3](/filings/0001758766-26-000045.md) | [4.1](/filings/0001758766-26-000081.md) | [7.3](/filings/0001758766-25-000066.md) | [8.3 d](/filings/0001758766-26-000016.md) | [7.4](/filings/0001758766-26-000045.md) | [7.5](/filings/0001758766-26-000081.md) |
| Income tax | $m | [(0.0)](/filings/0001758766-24-000176.md) | [0.1 d](/filings/0001758766-26-000016.md) | [0.2](/filings/0001758766-25-000012.md) | [0.1](/filings/0001758766-25-000027.md) | [0.1](/filings/0001758766-25-000066.md) | [(0.0) d](/filings/0001758766-26-000016.md) | [0.1](/filings/0001758766-26-000045.md) | [0.5](/filings/0001758766-26-000081.md) | [(0.1)](/filings/0001758766-25-000066.md) | [0.1 d](/filings/0001758766-26-000016.md) | [0.1](/filings/0001758766-26-000045.md) | [0.0](/filings/0001758766-26-000081.md) |
| Net income | $m | [(77.1)](/filings/0001758766-23-000129.md) | [(37.7) d](/filings/0001758766-26-000016.md) | [(72.3)](/filings/0001758766-25-000066.md) | [(582)](/filings/0001758766-25-000066.md) | [(148)](/filings/0001758766-25-000066.md) | [(51.1) d](/filings/0001758766-26-000016.md) | [(25.0)](/filings/0001758766-26-000081.md) | [203](/filings/0001758766-26-000081.md) | [(23.8)](/filings/0001758766-25-000066.md) | [(16.0) d](/filings/0001758766-26-000016.md) | [(18.9)](/filings/0001758766-26-000081.md) | [(14.4)](/filings/0001758766-26-000081.md) |
| Diluted EPS | $ per share | [(0.49)](/filings/0001758766-24-000176.md) | not reported | [(0.46)](/filings/0001758766-25-000012.md) | [(71.81)](/filings/0001758766-25-000027.md) | [(18.24)](/filings/0001758766-25-000066.md) | not reported | [(3.05)](/filings/0001758766-26-000045.md) | [(1.79)](/filings/0001758766-26-000081.md) | [(2.84)](/filings/0001758766-25-000066.md) | not reported | [(2.22)](/filings/0001758766-26-000045.md) | [(1.58)](/filings/0001758766-26-000081.md) |
| Basic EPS | $ per share | [(0.49)](/filings/0001758766-24-000176.md) | not reported | [(0.46)](/filings/0001758766-25-000012.md) | [(71.81)](/filings/0001758766-25-000027.md) | [(18.24)](/filings/0001758766-25-000066.md) | not reported | [(3.05)](/filings/0001758766-26-000045.md) | [24.31](/filings/0001758766-26-000081.md) | [(2.84)](/filings/0001758766-25-000066.md) | not reported | [(2.22)](/filings/0001758766-26-000045.md) | [(1.58)](/filings/0001758766-26-000081.md) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
- Cost of revenue: us-gaap:CostOfRevenue
- Gross profit: us-gaap:GrossProfit
- Research and development: us-gaap:ResearchAndDevelopmentExpense
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: us-gaap:InterestExpense, us-gaap:InterestExpenseNonoperating
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss, us-gaap:ProfitLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | Q3 FY2023 (2023-09-30) | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $m | [97.1](/filings/0001758766-24-000176.md) | [105](/filings/0001758766-26-000016.md) | [113](/filings/0001758766-25-000012.md) | [89.6](/filings/0001758766-25-000027.md) | [75.4](/filings/0001758766-25-000066.md) | [56.3](/filings/0001758766-26-000016.md) | [58.6](/filings/0001758766-26-000045.md) | [40.8](/filings/0001758766-26-000081.md) | [43.1](/filings/0001758766-25-000066.md) | [48.9](/filings/0001758766-26-000081.md) | [36.6](/filings/0001758766-26-000045.md) | [38.4](/filings/0001758766-26-000081.md) |
| Current assets | $m | [511](/filings/0001758766-23-000129.md) | [473](/filings/0001758766-25-000005.md) | [406](/filings/0001758766-24-000091.md) | [360](/filings/0001758766-24-000149.md) | [228](/filings/0001758766-24-000176.md) | [137](/filings/0001758766-26-000016.md) | [111](/filings/0001758766-25-000012.md) | [99.2](/filings/0001758766-25-000027.md) | [93.8](/filings/0001758766-25-000066.md) | [100](/filings/0001758766-26-000081.md) | [85.3](/filings/0001758766-26-000045.md) | [89.3](/filings/0001758766-26-000081.md) |
| Total assets | $m | [1,399](/filings/0001758766-23-000129.md) | [1,357](/filings/0001758766-25-000005.md) | [1,285](/filings/0001758766-24-000091.md) | [692](/filings/0001758766-24-000149.md) | [538](/filings/0001758766-24-000176.md) | [437](/filings/0001758766-26-000016.md) | [405](/filings/0001758766-25-000012.md) | [379](/filings/0001758766-25-000027.md) | [363](/filings/0001758766-25-000066.md) | [309](/filings/0001758766-26-000081.md) | [282](/filings/0001758766-26-000045.md) | [280](/filings/0001758766-26-000081.md) |
| Current liabilities | $m | [269](/filings/0001758766-23-000129.md) | [251](/filings/0001758766-25-000005.md) | [237](/filings/0001758766-24-000091.md) | [217](/filings/0001758766-24-000149.md) | [207](/filings/0001758766-24-000176.md) | [129](/filings/0001758766-26-000016.md) | [120](/filings/0001758766-25-000012.md) | [112](/filings/0001758766-25-000027.md) | [114](/filings/0001758766-25-000066.md) | [111](/filings/0001758766-26-000081.md) | [101](/filings/0001758766-26-000045.md) | [108](/filings/0001758766-26-000081.md) |
| Total liabilities | $m | [945](/filings/0001758766-23-000129.md) | [930](/filings/0001758766-25-000005.md) | [913](/filings/0001758766-24-000091.md) | [894](/filings/0001758766-24-000149.md) | [881](/filings/0001758766-24-000176.md) | [835](/filings/0001758766-26-000016.md) | [822](/filings/0001758766-25-000012.md) | [593](/filings/0001758766-25-000027.md) | [598](/filings/0001758766-25-000066.md) | [558](/filings/0001758766-26-000081.md) | [548](/filings/0001758766-26-000045.md) | [550](/filings/0001758766-26-000081.md) |
| Shareholders' equity | $m | [453](/filings/0001758766-23-000129.md) | [426](/filings/0001758766-25-000005.md) | [372](/filings/0001758766-24-000091.md) | [(203)](/filings/0001758766-24-000149.md) | [(344)](/filings/0001758766-24-000176.md) | [(398)](/filings/0001758766-26-000016.md) | [(417)](/filings/0001758766-25-000012.md) | [(214)](/filings/0001758766-25-000027.md) | [(236)](/filings/0001758766-25-000066.md) | [(249)](/filings/0001758766-26-000081.md) | [(266)](/filings/0001758766-26-000045.md) | [(270)](/filings/0001758766-26-000081.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Total liabilities: us-gaap:Liabilities
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [(4.0) d](/filings/0001758766-24-000176.md) | [(2.1) d](/filings/0001758766-26-000016.md) | [(0.6)](/filings/0001758766-25-000012.md) | [(11.9) d](/filings/0001758766-25-000027.md) | [(9.4) d](/filings/0001758766-25-000066.md) | [(14.7) d](/filings/0001758766-26-000016.md) | [8.5](/filings/0001758766-26-000045.md) | [(21.3) d](/filings/0001758766-26-000081.md) | [11.4 d](/filings/0001758766-25-000066.md) | [8.2 d](/filings/0001758766-26-000016.md) | [(8.3)](/filings/0001758766-26-000045.md) | [0.3 d](/filings/0001758766-26-000081.md) |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities

## Shares

| Line item | Unit | Q3 FY2022 (2022-09-30) | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [154](/filings/0001758766-23-000129.md) | [155](/filings/0001758766-24-000091.md) | [156](/filings/0001758766-24-000149.md) | [156](/filings/0001758766-24-000176.md) | [158](/filings/0001758766-25-000012.md) | [8.1](/filings/0001758766-25-000027.md) | [8.1](/filings/0001758766-25-000066.md) | [8.2](/filings/0001758766-26-000045.md) | [8.5](/filings/0001758766-26-000081.md) | [8.4](/filings/0001758766-25-000066.md) | [8.5](/filings/0001758766-26-000045.md) | [9.1](/filings/0001758766-26-000081.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 9,626,744 at 2026-08-05, from the cover of the [10-Q filed 2026-08-13](/filings/0001758766-26-000081.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:47 ET. No prices; not investment advice.