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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenue        
Total revenue $ 38,374 $ 33,999 $ 70,886 $ 59,468
Cost of Revenue        
Total cost of revenue 25,574 24,624 47,548 74,284
Gross profit (loss) 12,800 9,375 23,338 (14,816)
Operating expenses:        
Sales and marketing 7,250 10,944 14,042 22,070
Research and development 9,993 15,281 21,321 29,417
General and administrative 8,900 15,846 22,466 34,406
Impairment of goodwill 0 547,152 0 547,152
Total operating expenses 26,143 589,223 57,829 633,045
Loss from operations (13,343) (579,848) (34,491) (647,861)
Other income (expense), net:        
Interest expense (4,072) (4,631) (8,362) (9,338)
Gain on extinguishment of debt 220,047 0 220,047 0
Change in fair value of derivative liability 0 1,477 0 1,477
Other income, net 374 794 870 1,360
Total other income (expense), net 216,349 (2,360) 212,555 (6,501)
Income (loss) before provision for income taxes 203,006 (582,208) 178,064 (654,362)
Provision for income taxes (475) (62) (533) (215)
Net income (loss) $ 202,531 $ (582,270) $ 177,531 $ (654,577)
Net income (loss) per share attributable to common stockholders, basic (in dollars per share) $ 24.31 $ (71.81) $ 21.48 $ (81.74)
Net loss per share attributable to common stockholders, diluted (in dollars per share) $ (1.79) $ (71.81) $ (4.54) $ (81.74)
Net income (loss) attributable to Stem common stockholders, basic $ 202,531 $ (582,270) $ 177,531 $ (654,577)
Net loss attributable to Stem common stockholders, diluted $ (15,160) $ (582,270) $ (38,205) $ (654,577)
Weighted-average shares used in computing net income (loss) per share to common stockholders, basic (in shares) 8,330,679 8,107,947 8,263,378 8,008,477
Weighted-average shares used in computing net loss per share to common stockholders, diluted (in shares) 8,481,799 8,107,947 8,414,498 8,008,477
Solar software        
Revenue        
Total revenue $ 9,521 $ 7,905 $ 18,375 $ 15,697
Edge hardware        
Revenue        
Total revenue 12,086 11,134 22,349 19,182
Project and professional services        
Revenue        
Total revenue 2,330 1,323 4,146 2,683
Storage software & managed services        
Revenue        
Total revenue 9,003 5,875 16,054 11,563
Battery hardware resale        
Revenue        
Total revenue 5,434 7,762 9,962 10,343
Cost of services and other        
Cost of Revenue        
Total cost of revenue 14,262 10,955 25,675 20,939
Cost of hardware        
Cost of Revenue        
Total cost of revenue $ 11,312 $ 13,669 $ 21,873 $ 53,345