v3.25.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue      
Total revenue $ 156,266 $ 144,584 $ 461,515
Cost of revenue      
Total cost of revenue 96,310 155,642 457,850
Gross profit (loss) 59,956 (11,058) 3,665
Operating expenses      
Sales and marketing 28,717 37,759 51,556
Research and development 35,295 51,282 56,508
General and administrative 51,632 88,071 74,915
Impairment of parent company guarantees 0 104,134 0
Impairment of goodwill 0 547,152 0
Total operating expenses 115,644 828,398 182,979
Loss from operations (55,688) (839,456) (179,314)
Other income (expense), net      
Interest expense (23,933) (18,293) (14,977)
Gain on extinguishment of debt 220,047 0 59,121
Change in fair value of derivative liability 0 1,477 (7,731)
Change in fair value of warrant liability (3,222) 0 0
Other income, net 1,093 2,590 2,921
Total other income (expense), net 193,985 (14,226) 39,334
Income (loss) before provision for income taxes 138,297 (853,682) (139,980)
Provision for income taxes (536) (332) (433)
Net income (loss) $ 137,761 $ (854,014) $ (140,413)
Net income (loss) per share attributable to common shareholders, basic (in dollars per share) $ 16.52 $ (105.80) $ (18.05)
Net income (loss) per share attributable to common shareholders, diluted (in dollars per share) $ (9.18) $ (105.80) $ (18.05)
Net income (loss) attributable to common stockholders, basic $ 137,761 $ (854,014) $ (140,413)
Net loss attributable to Stem common stockholders, diluted $ (77,975) $ (854,014) $ (140,413)
Weighted-average shares used in computing net income (loss) per share to common shareholders, basic (in shares) 8,338,759 8,072,127 7,779,198
Weighted-average shares used in computing net loss per share to common shareholders, diluted (in shares) 8,489,879 8,072,127 7,779,198
Services and other revenue      
Revenue      
Total revenue $ 87,696 $ 67,810 $ 62,548
Cost of revenue      
Total cost of revenue 52,662 52,394 50,298
Hardware revenue      
Revenue      
Total revenue 68,570 76,774 398,967
Cost of revenue      
Total cost of revenue $ 43,648 $ 103,248 $ 407,552

Source

10-K XBRL Zip