STEM, INC. Reports Improved Q1 Net Loss and Positive Adjusted EBITDA, Secures 12-Month Liquidity
STEM sits 53% above its 52-week low of $5.925 on elevated volume (1.9× avg).
Summary
Stem, Inc. reported a reduced net loss and achieved positive Adjusted EBITDA in Q1 2026, alongside a strategic acquisition and a confident outlook on liquidity for the next 12 months.
Key Events · Earnings and Guidance · STEM
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Q1 2026 Financial Performance
Net loss improved to $18.9 million from $25.0 million in Q1 2025. Total revenue decreased 11% to $29.0 million, driven by reduced hardware sales but offset by increased services revenue.
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Operational Profitability
Achieved positive Adjusted EBITDA of $2.0 million in Q1 2026, a significant improvement from a $(4.6) million loss in Q1 2025.
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Liquidity Outlook
Management believes its cash position of $36.6 million is sufficient to meet capital and liquidity requirements for at least the next 12 months, despite negative working capital and operating cash flow.
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Strategic Acquisition
Completed the acquisition of Raicoon GmbH on April 23, 2026, for $4.3 million in common stock, expanding its PowerTrack capabilities. This follows a news report on April 28, 2026.
Analysis · STEM · Technology
This 10-Q provides comprehensive financial results for Q1 2026, detailing an improved net loss and a significant shift to positive Adjusted EBITDA, which is a key operational milestone for the company. Despite a decline in total revenue, the strategic pivot towards software and services is evident, with services revenue increasing. The company also confirmed sufficient liquidity for the next 12 months, a crucial factor given its negative operating cash flow and accumulated deficit. The recent acquisition of Raicoon further supports its software strategy. Investors should monitor the continued execution of the software-centric strategy and cash flow generation.
At the time of this filing, STEM was trading at $9.08 on NYSE in the Technology sector, with a market capitalization of approximately $92.9M. The 52-week trading range was $5.93 to $32.23. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.