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Stem, Inc. - STEM STOCK NEWS

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Stem, Inc. (Symbol: STEM) is a prominent provider of energy storage systems, leveraging the power of big data, predictive analytics, and cutting-edge technology to revolutionize the energy sector. The company offers an all-encompassing solution by bundling third-party hardware with its proprietary Athena software, catering to commercial and industrial customers, independent power producers, and renewable developers.

Stem Inc.'s core business focuses on optimizing energy usage for businesses, reducing electric costs, and contributing to a cleaner, more resilient grid. By integrating energy storage with advanced analytics, the company helps clients maximize renewable energy generation, ensuring efficient energy distribution and consumption.

Recent achievements and current projects underline Stem's commitment to innovation and sustainability. The company continues to enhance its Athena software, adding new features and capabilities to better serve its diverse clientele. Stem's financial condition remains robust, with strategic partnerships and projects driving growth and expanding its market reach.

SAN FRANCISCO--(BUSINESS WIRE)--
Stem Inc. recently announced a series of new developments, reinforcing its position as a leader in the energy storage sector. These include collaborations with major industry players and significant advancements in their technology offerings.

With a focus on sustainability, reliability, and customer satisfaction, Stem Inc. stands at the forefront of the energy revolution, providing innovative solutions that address the evolving needs of the energy market.

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Stem Inc. reported record third-quarter bookings of $676 million, a 203% increase from the same quarter last year. The company also announced a 10+ GWh software and services agreement with SB Energy. They expect to achieve adjusted EBITDA positive in the second half of 2023 and full-year adjusted EBITDA positive in 2024. Revenue for Q3 2023 was $133.7 million, up 34% from Q3 2022. The contracted backlog reached $1.84 billion at the end of Q3 2023, a 125% increase from the previous year.
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Stem, Inc. (NYSE: STEM) has announced the appointment of Ira M. Birns to its Board of Directors, effective November 6, 2023. Mr. Birns will also Chair the Audit Committee. He brings extensive experience in management, finance, accounting, mergers & acquisitions, capital markets, investor relations, and the energy sector. Currently, Mr. Birns is the Executive Vice President and CFO of World Kinect Corporation. Stem's Chairman of the Board, David Buzby, expressed excitement about the appointment, highlighting Mr. Birns' expertise. Mr. Birns is thrilled to join Stem's Board and contribute to the company's dedication to sustainable energy solutions.
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Stem plays a key role in the development of the first community battery energy storage site in the Bronx, New York City. The site features a 3 MW/12 MWh battery energy storage system and is co-optimized by Stem's AI-driven Athena platform. Stem expects to install over 700 MWh of energy storage assets in New York in the next two years.
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Stem, Inc. to hold conference call on November 2, 2023, to discuss financial results for Q3 2023.
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Stem announces new office in Gurgaon, India to support global growth and enhance customer value.
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Stem announces new application, PowerBidder Pro, to help energy professionals manage clean energy assets with AI-driven automation and customization tools.
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Stem management team to participate in fireside chat at Barclays CEO Energy-Power Conference
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Stem's Athena platform named Sustainability Product of the Year in Business Intelligence Group's 2023 Sustainability Awards
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Stem reports strong Q2 revenue of $93M, surpassing guidance midpoint. Net income of $19.1M compared to a loss of $32M in Q2 2022. Bookings increase by 5% YoY. Contracted backlog reaches a record high of $1.36B, up 88% YoY. CARR grows 30% YoY to $74.9M. Positive Q2 performance leads to reaffirmation of full-year 2023 guidance.
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FAQ

What is the current stock price of Stem (STEM)?

The current stock price of Stem (STEM) is $0.3238 as of December 20, 2024.

What is the market cap of Stem (STEM)?

The market cap of Stem (STEM) is approximately 54.7M.

What does Stem, Inc. specialize in?

Stem, Inc. specializes in providing energy storage systems using big data, predictive analytics, and their proprietary Athena software.

Who are Stem, Inc.'s primary customers?

Stem's primary customers include commercial and industrial clients, independent power producers, and renewable developers.

What is Athena software?

Athena is Stem, Inc.'s proprietary software that integrates with energy storage systems to optimize energy usage and reduce electric costs.

How does Stem, Inc. contribute to sustainability?

Stem helps maximize renewable energy generation and builds a cleaner, more resilient grid by integrating energy storage with advanced analytics.

What are some recent achievements of Stem, Inc.?

Recently, Stem has enhanced its Athena software and announced new collaborations with industry leaders, reinforcing its market position.

Where is Stem, Inc. headquartered?

Stem, Inc. is headquartered in San Francisco.

What type of solutions does Stem, Inc. provide?

Stem provides turnkey energy storage solutions by bundling third-party hardware with its Athena software.

What makes Stem, Inc.'s offerings unique?

Stem's offerings are unique due to the integration of big data, predictive analytics, and advanced energy storage technology.

How does Stem, Inc. help reduce electric costs for businesses?

Stem reduces electric costs by optimizing energy usage with their Athena software, tackling parts of the electricity bill that were previously difficult to address.

What impact does Stem, Inc. have on the energy grid?

Stem helps build a cleaner and more resilient grid by maximizing renewable energy generation and improving energy distribution and consumption.

Stem, Inc.

NYSE:STEM

STEM Rankings

STEM Stock Data

54.73M
150.79M
4.56%
44.6%
20.97%
Utilities - Renewable
Miscellaneous Electrical Machinery, Equipment & Supplies
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United States of America
SAN FRANCISCO