Stem, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 04:05 pm
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Stem, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 92.95 million compared to USD 66.95 million a year ago. Net income was USD 19.12 million compared to net loss of USD 32.02 million a year ago. Basic earnings per share from continuing operations was USD 0.12 compared to basic loss per share from continuing operations of USD 0.21 a year ago. Diluted loss per share from continuing operations was USD 0.26 compared to USD 0.21 a year ago.
For the six months, revenue was USD 160.35 million compared to USD 108.04 million a year ago. Net loss was USD 25.66 million compared to USD 54.5 million a year ago. Basic loss per share from continuing operations was USD 0.17 compared to USD 0.36 a year ago. Diluted loss per share from continuing operations was USD 0.17 compared to USD 0.36 a year ago.
Stem, Inc. provides clean energy solutions and services designed to maximize the economic, environmental, and resiliency value of energy assets and portfolios. Its artificial intelligence (AI)-driven enterprise software platform, Athena, enables organizations to deploy and unlock value from clean energy assets at scale. It delivers its battery hardware and software-enabled services to its customers through its Athena platform. Its applications, including AlsoEnergyâs PowerTrack, simplify and optimize asset management and connect an ecosystem of owners, developers, assets, and markets. It operates in two key areas within the energy landscape: Behind-the-Meter (BTM) and Front-of-the-Meter (FTM). BTM systems provide power that can be used on-site without interacting with the electric grid and passing through an electric meter. It also offers integrated partner solutions to help improve returns across energy projects, including storage, solar, and electric vehicle (EV) fleet charging.
STEM, INC. 
