STEM, INC.
For the period ended Mar 31, 2026. Filed May 7, 2026.
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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, 2026 · Filed May 7, 2026
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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Condensed Consolidated Statements of Operations
(in thousands, except share and per share amounts)
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Revenue | ||
| Services and other revenue | $18,674 | $17,721 |
| Hardware revenue | 10,326 | 14,791 |
| Total revenue | 29,000 | 32,512 |
| Cost of revenue | ||
| Cost of services and other | 11,944 | 11,413 |
| Cost of hardware | 6,197 | 10,561 |
| Total cost of revenue | 18,141 | 21,974 |
| Gross profit | 10,859 | 10,538 |
| Operating expenses: | ||
| Sales and marketing | 6,517 | 6,792 |
| Research and development | 6,575 | 11,328 |
| General and administrative | 8,666 | 13,566 |
| Impairment of assets held for sale | 3,315 | — |
| Total operating expenses | 25,073 | 31,686 |
| Loss from operations | (14,214) | (21,148) |
| Other expense, net: | ||
| Interest expense | (7,359) | (4,290) |
| Change in fair value of warrant liability | 2,411 | — |
| Other income, net | 349 | 496 |
| Total other expense, net | (4,599) | (3,794) |
| Loss before provision for income taxes | (18,813) | (24,942) |
| Provision for income taxes | (112) | (58) |
| Net loss | $(18,925) | $(25,000) |
| Net loss per share attributable to common stockholders, basic and diluted | $(2.22) | $(3.05) |
| Weighted-average shares used in computing net loss per share to common stockholders, basic and diluted | 8,517,041 | 8,194,490 |
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