Stem, Inc. (STEM) is the solution provider for the challenges of the current dynamic energy market. By merging the innovative energy storage solutions with AI-powered analytics portfolio Athena, the company enables clients and collaborators to optimize energy usage by switching between battery power, and grid power. The company’s solutions help its clients take advantage of clean and adaptive energy infrastructure.
The price of STEM stock during regular trading on February 24, 2022, was $11.2 with a gain of 14.5%. At last check in the pre-market, the stock dropped by 12.19%.
STEM: Key Financials
On February 24, 2022, STEM released its unaudited financial statement for the fourth quarter ended December 31, 2021. Some of the notable highlights are mentioned below.
Revenue
Revenue in Q4 2021 was $52.8 million corresponding to $18.6 million in the fourth quarter of 2020. The company observed a record gain of 184% in its revenue over the yearly period. The company missed the revenue target by -$19.4 million.
EPS
Basic and diluted net loss in Q4 2021 was $101.2 million or $0.96 per share against $156.1 million or $4.13 per share in the same quarter of 2020. The company observed a declining trajectory in its net loss over the yearly period. Also, the company missed the analysts’ estimates of EPS by -$0.14.
STEM: Events and Happenings
On February 24, 2022, STEM updated that it had been chosen as the provider of smart energy storage solutions to Available Power. It is a development company that deploys distributed energy resources and microgrid platforms for commercial real estate. On February 2, 2022, STEM announced the completion of the acquisition of Also Energy Holdings, Inc. Through this agreement, the company anchored its position as an international leader in clean energy intelligence and optimization software.
On January 25, 2022, STEM announced its entry into a deal with NineDot Energy to provide a smart energy storage portfolio. On January 5, 2022, STEM informed about its entry into a co-marketing deal with ENGIE North America to develop an offering to allow wider adoption of eMobility solutions. The offering is in pilot development, combined Athena, and storage hardware with ENGIE’s turnkey solution.
On January 3, 2022, STEM reported its Executive management’s participation at the following investor conferences.
- Goldman Sachs Virtual Global Energy and Clean Technology Conference on January 6, and
- BofA Securities Battery and Storage Virtual Conference on January 10, 2022.
Conclusion
STEM stock declined by 64% in the past year primarily due to the restrictions put as a result of the pandemic. The company’s recent pre-market stock dip is the consequence of its financial statement release and missing the estimated revenue and EPS target with a big margin.
