Stem Announces First Quarter 2024 Results
Stem, Inc. Class A (STEM)
US:NASDAQ Investor Relations:
investor.stemcellsinc.com
Company Research
Source: Business Wire
Substantial increase of +42% CARR-to-ARR conversion since January 2024Introducing Next Generation Asset Performance Management Software SuiteReaffirming Full Year 2024 Operating Cash Flow, Adjusted EBITDA, Gross Margin and Bookings GuidanceFirst Quarter 2024 Financial and Operating HighlightsFinancial Highlights1Revenue of $25.5 million, down from $67.4 million (-62%) in 1Q23. Reflects a $33 million reduction in revenue due to an updated valuation of certain contract guarantees for hardware revenue recorded in 2022 and 2023GAAP gross profit of $(24.2) million, down from $1.0 million in 1Q23, primarily as a result of the net revenue reductionNon-GAAP gross margin of 24%, up from 19% in 1Q23Net loss of $72.3 million versus net loss of $44.8 million in 1Q23Adjusted EBITDA of $(12.2) million versus $(13.7) million in 1Q23Operating cash flow of $(0.6) million versus $(35.8) million in 1Q23Ended 1Q24 with $112.8 million in cash, cash equivalents, and short-term investments, versus $113.6 mi
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News
- Stem, Inc. (NYSE: STEM) had its price target lowered by analysts at UBS Group AG from $5.00 to $2.50. They now have a "buy" rating on the stock.MarketBeat
- Stem, Inc. (NYSE: STEM) had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $2.50 to $2.00. They now have a "neutral" rating on the stock.MarketBeat
- Stem, Inc. (NYSE: STEM) had its price target lowered by analysts at BMO Capital Markets from $2.50 to $1.85. They now have a "market perform" rating on the stock.MarketBeat
- Stem, Inc. (NYSE: STEM) had its price target lowered by analysts at Evercore ISI from $13.00 to $9.00. They now have an "outperform" rating on the stock.MarketBeat
- Stem, Inc. (NYSE:STEM) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
STEM
Earnings
- 5/2/24 - Miss
STEM
Sec Filings
- 5/16/24 - Form 144
- 5/7/24 - Form 4
- 5/3/24 - Form 10-Q
- STEM's page on the SEC website