STEM INC
For the period ended Mar 31, 2024. Filed May 3, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 3, 2024
STEM$2.76+9.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets
(in thousands, except share and per share amounts)
| March 31, 2024 | December 31, 2023 | |
|---|---|---|
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $112,804 | $105,375 |
| Short-term investments | — | 8,219 |
| Accounts receivable, net of allowances of $4,464 and $4,904 as of March 31, 2024 and December 31, 2023, respectively | 239,934 | 302,848 |
| Inventory, net | 24,444 | 26,665 |
| Deferred costs with suppliers | 20,125 | 20,555 |
| Other current assets (includes $41 and $73 due from related parties as of March 31, 2024 and December 31, 2023, respectively) | 8,221 | 9,303 |
| Total current assets | 405,528 | 472,965 |
| Energy storage systems, net | 71,234 | 74,418 |
| Contract origination costs, net | 10,515 | 11,119 |
| Goodwill | 547,169 | 547,205 |
| Intangible assets, net | 155,008 | 157,146 |
| Operating lease right-of-use assets | 11,475 | 12,255 |
| Other noncurrent assets | 83,966 | 81,869 |
| Total assets | $1,284,895 | $1,356,977 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| Current liabilities: | ||
| Accounts payable | $61,746 | $78,277 |
| Accrued liabilities | 78,487 | 76,873 |
| Accrued payroll | 11,188 | 14,372 |
| Financing obligation, current portion | 15,390 | 14,835 |
| Deferred revenue, current portion | 56,952 | 53,997 |
| Other current liabilities (includes $203 and $31 due to related parties as of March 31, 2024 and December 31, 2023, respectively) | 12,855 | 12,726 |
| Total current liabilities | 236,618 | 251,080 |
| Deferred revenue, noncurrent | 88,410 | 88,650 |
| Asset retirement obligation | 4,073 | 4,052 |
| Convertible notes, noncurrent | 524,200 | 523,633 |
| Financing obligation, noncurrent | 49,222 | 52,010 |
| Lease liabilities, noncurrent | 9,885 | 10,455 |
| Other liabilities | 436 | 416 |
| Total liabilities | 912,844 | 930,296 |
| Commitments and contingencies (Note 12) | ||
| Stockholders’ equity: | ||
| Preferred stock, $0.0001 par value; 1,000,000 shares authorized as of March 31, 2024 and December 31, 2023; zero shares issued and outstanding as of March 31, 2024 and December 31, 2023 | — | — |
| Common stock, $0.0001 par value; 500,000,000 shares authorized as of March 31, 2024 and December 31, 2023; 161,526,782 and 155,932,880 issued and outstanding as of March 31, 2024 and December 31, 2023, respectively | 16 | 16 |
| Additional paid-in capital | 1,216,197 | 1,198,716 |
| Accumulated other comprehensive income (loss) | 154 | (42) |
| Accumulated deficit | (844,801) | (772,494) |
| Total Stem’s stockholders’ equity | 371,566 | 426,196 |
| Non-controlling interests | 485 | 485 |
| Total stockholders’ equity | 372,051 | 426,681 |
| Total liabilities and stockholders’ equity | $1,284,895 | $1,356,977 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.