STEM, INC.

For the period ended Sep 30, 2025. Filed Oct 30, 2025.

About this filing

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.

Sep 30, 2025 · Filed Oct 30, 2025

STEM$2.36-14.5%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Condensed Consolidated Statements of Stockholders’ Deficit

(in thousands, except share amounts)

Common Stock · Additional Paid-In Capital · Accumulated Other Comprehensive Income · Accumulated Deficit · Non-controlling Interests · Total Stockholders’ Deficit
Shares · Amount
Balance as of January 1, 2025	8,139,884	$16	$1,228,042	$76	$(1,626,508)	$541	$(397,833)
Issuance of common stock upon release of restricted stock units	177,708	1	—	—	—	—	1
Stock-based compensation	—	—	5,718	—	—	—	5,718
Foreign currency translation adjustments	—	—	—	190	—	—	190
Net loss	—	—	—	—	(25,000)	—	(25,000)
Balance as of March 31, 2025	8,317,592	17	1,233,760	266	(1,651,508)	541	(416,924)
Issuance of common stock upon release of restricted stock units	41,050	—	—	—	—	—	—
Stock-based compensation	—	—	795	—	—	—	795
Foreign currency translation adjustments	—	—	—	82	—	—	82
Adjustment due to reverse stock split (Note 2)	(90)	(16)	16	—	—	—	—
Contributions from non-controlling interests	—	—	—	—	—	37	37
Net income	—	—	—	—	202,531	—	202,531
Balance as of June 30, 2025	8,358,552	$1	$1,234,571	$348	$(1,448,977)	$578	$(213,479)
Issuance of common stock upon release of restricted stock units	31,399	—	—	—	—	—	—
Stock-based compensation	—	—	2,334	—	—	—	2,334
Foreign currency translation adjustments	—	—	—	(173)	—	—	(173)
Net loss	—	—	—	—	(23,791)	—	(23,791)
Balance as of September 30, 2025	8,389,951	$1	$1,236,905	$175	$(1,472,768)	$578	$(235,109)

Common Stock · Additional Paid-In Capital · Accumulated Other Comprehensive (Loss) Income · Accumulated Deficit · Non-controlling Interests · Total Stockholders’ Equity (Deficit)
Shares · Amount
Balance as of January 1, 2024	7,796,644	$16	$1,198,716	$(42)	$(772,494)	$485	$426,681
Issuance of common stock upon release of restricted stock units	131,623	—	—	—	—	—	—
Issuance of fully vested restricted stock units for employee bonuses (Note 9)	148,072	—	8,114	—	—	—	8,114
Stock-based compensation	—	—	9,367	—	—	—	9,367
Unrealized gain on available-for-sale securities	—	—	—	3	—	—	3
Foreign currency translation adjustments	—	—	—	193	—	—	193
Net loss	—	—	—	—	(72,307)	—	(72,307)
Balance as of March 31, 2024	8,076,339	16	1,216,197	154	(844,801)	485	372,051
Issuance of common stock upon release of restricted stock units	53,037	—	—	—	—	—	—
Stock-based compensation	—	—	7,542	—	—	—	7,542
Foreign currency translation adjustments	—	—	—	(60)	—	—	(60)
Net loss	—	—	—	—	(582,270)	—	(582,270)
Balance as of June 30, 2024	8,129,376	$16	$1,223,739	$94	$(1,427,071)	$485	$(202,737)
Issuance of common stock upon release of restricted stock units	6,361	—	—	—	—	—	—
Stock-based compensation	—	—	7,218	—	—	—	7,218
Foreign currency translation adjustments	—	—	—	208	—	—	208
Contributions from non-controlling interests	—	—	—	—	—	56	56
Net loss	—	—	—	—	(148,300)	—	(148,300)
September 30, 2024	8,135,737	$16	$1,230,957	$302	$(1,575,371)	$541	$(343,555)

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.