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.
Stem Inc (NYSE: STEM) delivers intelligent energy storage solutions through its industry-leading Athena software platform. This news hub provides investors and industry stakeholders with essential updates on the company's technological advancements, financial milestones, and market positioning within the renewable energy sector.
Access authoritative reporting on STEM's innovations in predictive energy analytics, grid optimization partnerships, and commercial deployments. Our curated news collection features earnings announcements, strategic collaborations, and product updates that demonstrate the company's leadership in merging big data with clean energy infrastructure.
Key focus areas include energy storage system deployments, Athena software enhancements, and regulatory developments impacting smart grid technologies. Bookmark this page for real-time updates on how STEM continues to optimize energy consumption patterns for commercial enterprises while advancing grid modernization initiatives.
Stem (NYSE: STEM) announced the appointment of Michael Carlson as Chief Operating Officer, bringing 30 years of experience in finance and operations, including 20 years in the energy sector. Carlson previously served as Vice President at Koch Engineered Solutions, focusing on Electric Technologies strategy. He has also worked at General Electric and Siemens, enhancing software solutions for the energy grid. CEO John Carrington emphasized Carlson's leadership to drive operational excellence and support Stem's innovative energy solutions.
Stem (NYSE: STEM) has launched its unified clean energy management platform, Athena®, aimed at simplifying the deployment and management of solar, storage, and EV charging assets. This platform enhances economic and environmental value, allowing businesses to reduce costs, carbon emissions, and risks while maximizing savings and revenues. With over 30 GW of assets under management, Athena integrates advanced AI capabilities, providing a comprehensive view of energy performance. Key features include real-time monitoring, market revenue optimization, and a focus on sustainability in EV charging.
Stem (NYSE: STEM) partners with InCharge Energy to offer a comprehensive EV fleet infrastructure solution, combining Stem's Athena platform with InCharge's In-Control software. This collaboration aims to optimize EV charging, manage energy loads, and support ESG goals, catering to fleet owners navigating the complex EV market. Key features include renewable energy integration, outage protection, economic forecasting, and reduced utility costs. The partnership aligns with recent incentives from the Inflation Reduction Act, enhancing project value for businesses.
Stem (NYSE: STEM) successfully dispatched approximately 86 megawatts (MW) and 268 megawatt-hours (MWh) during a Flex Alert on September 6, aiding California's electrical grid amidst extreme heat. This energy release, supporting over 103,000 homes, highlights the importance of energy storage in enhancing grid resilience. Stem's Athena® platform facilitates this effort, enhancing integrated energy management for commercial and industrial customers and showcasing the company's leadership in AI-driven clean energy solutions.
Stem (NYSE: STEM), a leader in AI-driven clean energy solutions, announced its management team will meet investors at the 2022 Barclays CEO Energy-Power Conference on September 7, 2022, in New York. The company offers innovative services designed to enhance the economic and environmental value of energy assets through its AI software platform, Athena®. More details and investor materials can be found on Stem's Investor Relations website.
Stem (NYSE: STEM) announced the anticipated signing of the Inflation Reduction Act (IRA) by President Biden, which will significantly impact clean energy investments. CEO John Carrington highlighted key benefits, including a new 30% tax credit for standalone battery storage projects and an extension of the Solar Production Tax Credit. These provisions aim to boost investment certainty and affordability in energy markets, crucial for transitioning toward cleaner energy. Stem plans to support stakeholders through educational webinars regarding IRA implications for clean energy projects.
Stem reported a significant 246% year-over-year revenue increase to $67 million in Q2 2022, driven by hardware sales and the acquisition of AlsoEnergy, contributing $14 million. The GAAP gross margin rose to 12%, while non-GAAP gross margin reached 17%. Despite a net loss of $32 million, an improvement from $100 million in Q2 2021, the company raised its full-year bookings and Contracted Annual Recurring Revenue (CARR) guidance. The contracted backlog grew significantly to $727 million, fueled by $226 million in bookings, marking an impressive 402% increase compared to the previous year.
AlsoEnergy, a Stem company, has been ranked #1 in Guidehouse Insights’ Solar and Storage Monitoring and Control Vendors report. Its flagship application, PowerTrack, along with advanced monitoring and control technologies, is recognized for improving efficiency and reducing emissions in renewable energy systems. This ranking reflects AlsoEnergy's focus on lowering costs and enhancing operational excellence. With over 33 gigawatts of renewable energy assets managed globally, AlsoEnergy aims to empower businesses in optimizing their clean energy portfolios effectively.
Stem, Inc. (NYSE: STEM) will hold a conference call on August 4, 2022, to discuss its financial results for the quarter ended June 30, 2022. The call starts at 5:00 p.m. Eastern Time, with a press release issued at 4:05 p.m. Participants can access the call via a live webcast or by telephone. A replay will be available until September 4, 2022. Stem specializes in AI-driven energy software and services, focusing on optimizing energy usage through advanced solutions and analytics.
Stem (NYSE: STEM) will engage in a fireside chat at the J.P. Morgan 2022 Energy, Power & Renewables Conference in New York City on June 23, 2022, at 2:55 p.m. Eastern Time. The session will be available via webcast, accessible through Stem's investor relations website. Following the event, a recording will be archived for 30 days. Stem is a leader in AI-driven energy software solutions, focusing on optimizing energy use with advanced storage and analytics, and supports solar projects and energy management.
