STEM INC
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
STEM$2.76+9.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
(in thousands, except share and per share amounts)
| December 31, 2023 | December 31, 2022 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $105,375 | $87,903 |
| Short-term investments | 8,219 | 162,074 |
| Accounts receivable, net of allowances of $4,904 and $3,879 as of December 31, 2023 and December 31, 2022, respectively | 302,848 | 223,219 |
| Inventory, net | 26,665 | 8,374 |
| Deferred costs with suppliers | 20,555 | 43,159 |
| Other current assets (includes $73 and $74 due from related parties as of December 31, 2023 and December 31, 2022, respectively) | 9,303 | 8,026 |
| Total current assets | 472,965 | 532,755 |
| Energy storage systems, net | 74,418 | 90,757 |
| Contract origination costs, net | 11,119 | 11,697 |
| Goodwill | 547,205 | 546,649 |
| Intangible assets, net | 157,146 | 162,265 |
| Operating lease right-of-use assets | 12,255 | 12,431 |
| Other noncurrent assets | 81,869 | 65,339 |
| Total assets | $1,356,977 | $1,421,893 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $78,277 | $83,831 |
| Accrued liabilities | 76,873 | 85,258 |
| Accrued payroll | 14,372 | 12,466 |
| Financing obligation, current portion | 14,835 | 15,720 |
| Deferred revenue, current portion | 53,997 | 64,311 |
| Other current liabilities (includes $31 and $687 due to related parties as of December 31, 2023 and December 31, 2022, respectively) | 12,726 | 5,412 |
| Total current liabilities | 251,080 | 266,998 |
| Deferred revenue, noncurrent | 88,650 | 73,763 |
| Asset retirement obligation | 4,052 | 4,262 |
| Notes payable, noncurrent | — | 1,603 |
| Convertible notes, noncurrent | 523,633 | 447,909 |
| Financing obligation, noncurrent | 52,010 | 63,867 |
| Lease liabilities, noncurrent | 10,455 | 10,962 |
| Other liabilities | 416 | 362 |
| Total liabilities | 930,296 | 869,726 |
| Commitments and contingencies (Note 20) | ||
| Stockholders’ equity: | ||
| Preferred stock, $0.0001 par value; 1,000,000 shares authorized as of December 31, 2023 and December 31, 2022, respectively; zero shares issued and outstanding as of December 31, 2023 and December 31, 2022, respectively | — | — |
| Common stock, $0.0001 par value; 500,000,000 shares authorized as of December 31, 2023 and December 31, 2022; 155,932,880 and 154,540,197 issued and outstanding as of December 31, 2023 and December 31, 2022, respectively | 16 | 15 |
| Additional paid-in capital | 1,198,716 | 1,185,364 |
| Accumulated other comprehensive loss | (42) | (1,672) |
| Accumulated deficit | (772,494) | (632,081) |
| Total Stem's stockholders’ equity | 426,196 | 551,626 |
| Non-controlling interests | 485 | 541 |
| Total stockholders’ equity | 426,681 | 552,167 |
| Total liabilities and stockholders’ equity | $1,356,977 | $1,421,893 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.