STEM INC
For the period ended Dec 31, 2024. Filed Mar 5, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 5, 2025
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 Statements of Operations
(in thousands, except share and per share amounts)
| Years Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Revenue | |||
| Services and other revenue | $67,810 | $62,548 | $52,143 |
| Hardware revenue | 76,774 | 398,967 | 310,837 |
| Total revenue | 144,584 | 461,515 | 362,980 |
| Cost of revenue | |||
| Cost of services and other revenue | 52,394 | 50,298 | 43,153 |
| Cost of hardware revenue | 103,248 | 407,552 | 286,735 |
| Total cost of revenue | 155,642 | 457,850 | 329,888 |
| Gross (loss) profit | (11,058) | 3,665 | 33,092 |
| Operating expenses | |||
| Sales and marketing | 37,759 | 51,556 | 48,882 |
| Research and development | 51,282 | 56,508 | 38,303 |
| General and administrative | 88,071 | 74,915 | 77,028 |
| Impairment of parent company guarantees | 104,134 | — | — |
| Impairment of goodwill | 547,152 | — | — |
| Total operating expenses | 828,398 | 182,979 | 164,213 |
| Loss from operations | (839,456) | (179,314) | (131,121) |
| Other (expense) income, net | |||
| Interest expense | (18,293) | (14,977) | (10,468) |
| Gain on extinguishment of debt, net | — | 59,121 | — |
| Change in fair value of derivative liability | 1,477 | (7,731) | — |
| Other income, net | 2,590 | 2,921 | 2,374 |
| Total other (expense) income, net | (14,226) | 39,334 | (8,094) |
| Loss before (provision for) benefit from income taxes | (853,682) | (139,980) | (139,215) |
| (Provision for) benefit from income taxes | (332) | (433) | 15,161 |
| Net loss | $(854,014) | $(140,413) | $(124,054) |
| Net loss per share attributable to Stem common shareholders, basic and diluted | $(5.29) | $(0.90) | $(0.81) |
| Weighted-average shares used in computing net loss per share to Stem common shareholders, basic and diluted | 161,442,542 | 155,583,957 | 153,413,743 |
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