v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 36,586 $ 48,915
Accounts receivable, net of allowances of $3,889 and $3,893 as of March 31, 2026 and December 31, 2025, respectively 33,345 38,353
Inventory 5,698 4,587
Assets held for sale 1,363 0
Other current assets 8,303 8,236
Total current assets 85,295 100,091
Energy storage systems, net 36,238 43,925
Contract origination costs, net 7,205 7,466
Intangible assets, net 117,286 123,028
Operating lease right-of-use assets 11,284 9,571
Other noncurrent assets 24,572 24,806
Total assets 281,880 308,887
Current liabilities:    
Accounts payable 7,084 10,310
Accrued liabilities 25,667 26,875
Accrued payroll 5,136 9,131
Financing obligation, current portion 13,198 13,792
Deferred revenue, current portion 42,783 43,625
Other current liabilities 7,399 6,832
Total current liabilities 101,267 110,565
Deferred revenue, noncurrent 83,030 85,251
Asset retirement obligation 4,365 4,349
Convertible notes, noncurrent 183,800 183,594
Senior secured notes, noncurrent 134,266 128,796
Financing obligation, noncurrent 26,659 29,590
Warrant liability 2,710 5,121
Lease liabilities, noncurrent 11,000 9,860
Other liabilities 664 820
Total liabilities 547,761 557,946
Commitments and contingencies (Note 13)
Stockholders’ deficit:    
Preferred stock, $0.0001 par value; 1,000,000 shares authorized as of March 31, 2026 and December 31, 2025; zero shares issued and outstanding as of March 31, 2026 and December 31, 2025 0 0
Common stock, $0.0001 par value; 250,000,000 and 250,000,000 shares authorized as of March 31, 2026 and December 31, 2025, respectively; 8,567,751 and 8,489,540 issued and outstanding as of March 31, 2026 and December 31, 2025, respectively 1 1
Additional paid-in capital 1,241,228 1,239,263
Accumulated other comprehensive income 179 41
Accumulated deficit (1,507,672) (1,488,747)
Total Stem stockholders’ deficit (266,264) (249,442)
Non-controlling interests 383 383
Total stockholders’ deficit (265,881) (249,059)
Total liabilities and stockholders’ deficit $ 281,880 $ 308,887

Source

10-Q XBRL Zip