Stem, Inc. filings document the company’s clean energy software business, public-company governance and capital structure. Results-related 8-K reports furnish quarterly and annual operating updates, including software, services and edge hardware revenue, PowerTrack software activity, adjusted EBITDA measures and management guidance.
Other filings cover proxy matters, director elections, executive compensation, board and officer changes, independent auditor changes, an at-the-market common stock offering program, Regulation FD materials and securities-litigation status. These disclosures record governance controls, stockholder voting matters, common stock issuance capacity, risk-related events and formal updates tied to Stem’s energy storage and renewable asset software operations.
Stem, Inc. reported first-quarter 2026 revenue of $29.0 million, down from $32.5 million a year earlier, as it continues shifting toward software, edge hardware and services. The company posted a net loss of $18.9 million, narrower than the $25.0 million loss in 2025, and a basic and diluted loss per share of $2.22.
Cash and cash equivalents were $36.6 million with negative working capital of about $16.0 million and a stockholders’ deficit of $265.9 million, reflecting substantial debt, including convertible notes and 2030 Senior Secured Notes. Operating cash outflow was $8.3 million. Management believes current cash will cover at least the next 12 months but notes potential need for future financing.
Stem put in place a $30.0 million at-the-market equity program in March 2026, with no shares sold as of quarter-end, and recorded a $3.3 million impairment on assets held for sale related to four Canadian battery projects. Remaining performance obligations totaled $377.5 million, and after quarter-end the company agreed to acquire Vienna-based software firm raicoon GmbH for $4.3 million in stock.
Stem, Inc. reported first quarter 2026 revenue of $29.0 million, down 11% from $32.5 million a year earlier, mainly from lower battery hardware sales. Software, services, and edge hardware revenue was also $29.0 million, up 4% from $28.0 million, reflecting 16% growth in PowerTrack software revenue.
GAAP gross profit rose to $10.9 million with gross margin improving to 38% from 32%. Non-GAAP gross profit was $15.2 million, with non-GAAP gross margin increasing to 52% from 46%. Net loss narrowed to $18.9 million from $25.0 million, and adjusted EBITDA improved to $2.0 million from $(4.6) million, marking the fourth consecutive quarter of positive adjusted EBITDA.
Operating cash flow was $(8.3) million versus $8.5 million a year earlier. Stem ended the quarter with $36.6 million in cash and cash equivalents, down from $48.9 million at the end of 2025. The company reaffirmed its full-year 2026 guidance, including revenue of $140–$190 million, non-GAAP gross margin of 40%–50%, adjusted EBITDA of $10–$15 million, operating cash flow of $0–$10 million, and year-end ARR of $65–$70 million.
Stem, Inc. is asking stockholders to vote at its virtual 2026 annual meeting on June 3, 2026. Holders of 8,567,840 shares of common stock as of April 10, 2026 can participate online, submit questions, and vote.
Stockholders are asked to elect three Class II directors to terms ending in 2029, approve an amended and restated 2024 Equity Incentive Plan, approve executive pay on an advisory basis, and ratify RSM US LLP as independent auditor for 2026. The equity plan amendment would add 425,000 shares to the pool, bringing the total share reserve to 594,941 and extending the plan term.
Stem discloses a three-year average equity award burn rate of about 7.2% and a fully-diluted overhang of 12.8%, which would rise to 16.4% if the new shares are authorized, or 14.9% excluding certain performance units. The company also notes a 1‑for‑20 reverse stock split effective June 23, 2025 and explains detailed voting, quorum, and broker non-vote mechanics for the meeting.
Stem, Inc. reports continued transition to a software- and services-focused model, noting an ongoing strategy shift announced in 2024 that reduced battery resale activity and led to short-term revenue declines and restructuring costs. The company states $6.1 million of restructuring charges related to an ~27% workforce reduction and an accumulated deficit of $1,488.7 million. Stem highlights its PowerTrack suite, global presence across 55 countries, and scale with 36 GW of solar assets and nearly 2 GWh of storage under management. As of June 30, 2025 market value held by non-affiliates was $50.0 million, and shares outstanding were 8,518,974 as of February 25, 2026. The filing lists supply-chain, execution, AI, regulatory (including the OBBB) and commercialization risks that could materially affect results.
Stem, Inc. reported that its Audit Committee approved the dismissal of Deloitte & Touche LLP as its independent registered public accounting firm on March 12, 2026, and notified Deloitte on March 13, 2026. Deloitte’s audit reports for the years ended December 31, 2024 and 2025 contained no adverse opinions, disclaimers, or qualifications as to uncertainty, audit scope, or accounting principles.
The company states there were no disagreements with Deloitte and no reportable events under SEC rules through March 12, 2026. On the same date, the Audit Committee approved the engagement of RSM US LLP as the new independent auditor, starting with the quarter ending March 31, 2026 and the 2026 year-end audit, subject to customary client acceptance procedures. A Deloitte letter to the SEC regarding these disclosures is filed as an exhibit.
STEM, INC. executive Matthew Tappin, President, Software Products, reported an open-market sale of 402 shares of common stock on March 11, 2026 at an average price of $10.83 per share. After this transaction, he directly holds 2,823 shares. The sale was executed under a pre-arranged Rule 10b5-1 trading plan adopted on March 18, 2025, indicating it was scheduled in advance rather than timed discretionarily.
STEM reported proposed insider sales under a Form 144 notice, identifying multiple recent dispositions of Common Stock by Matthew Tappin. The excerpt lists specific sales on 02/19/2026, 02/20/2026, 03/03/2026, 03/04/2026, and 03/10/2026 with per‑trade share counts of 522, 366, 300, 185, and 655 respectively.
The filing also shows an entry associated with Fidelity Brokerage Services LLC and a record line dated 03/11/2026. These items are presented as notices of proposed resale under Section 144; the excerpt does not state settlement details or cumulative totals.
STEM, INC. President of Software Products Matthew Tappin settled equity awards and related taxes. On March 7, 2026, 1,458 restricted stock units converted into 1,458 common shares at a conversion price of $0.00 per share on a one-for-one basis.
In connection with this settlement, 655 common shares were automatically sold in a “sell to cover” transaction at $11.12 per share to satisfy tax liabilities, which the company notes was not a discretionary trade. After these transactions, Tappin held 3,225 common shares directly, with no remaining derivative position reported.
STEM, INC. Chief Legal Officer Saul R. Laureles reported routine equity compensation activity. On March 7, 2026, 2,916 restricted stock units converted into an equal number of common shares at a price of $0.00 per share.
In connection with this vesting, 942 common shares were automatically sold on March 10, 2026 at $11.12 per share to cover the related tax liability, a “sell to cover” transaction described as non-discretionary for the reporting person. After these transactions, Laureles directly holds 27,450 common shares.
STEM, INC. executive Michael James Carlson, President, Managed Services, reported routine equity compensation activity. On March 7, 2026, 3,541 RSUs vested and converted into the same number of common shares at $0.00 per share, the second installment from a 10,625 RSU grant dated May 28, 2024.
On March 10, 2026, 2,079 common shares were automatically sold at $11.12 per share to cover the related tax liability, a non-discretionary “sell to cover” transaction. Following these events, Carlson directly holds 19,458 common shares and 3,516 RSUs.