Stem Announces First Quarter 2024 Results [Yahoo! Finance]
Stem, Inc. Class A (STEM)
US:NASDAQ Investor Relations:
investor.stemcellsinc.com
Company Research
Source: Yahoo! Finance
Reaffirming Full Year 2024 Operating Cash Flow, Adjusted EBITDA, Gross Margin and Bookings Guidance First Quarter 2024 Financial and Operating Highlights Financial Highlights Revenue 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 2023 GAAP gross profit of $(24.2) million, down from $1.0 million in 1Q23, primarily as a result of the net revenue reduction Non-GAAP gross margin of 24%, up from 19% in 1Q23 Net loss of $72.3 million versus net loss of $44.8 million in 1Q23 Adjusted EBITDA of $(12.2) million versus $(13.7) million in 1Q23 Operating cash flow of $(0.6) million versus $(35.8) million in 1Q23 Ended 1Q24 with $112.8 million in cash, cash equivalents, and short-term investments, versus $113.6 million at the end of 4Q23 Reaffirming guidance for adjusted EBITDA and operating cash flow for full year 2024 O
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STEM
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