Stem Inc (STEM)

[realfast95]

Third Quarter 2022 Financial and Operating Highlights

Financial Highlights

Record Revenue of $100 million, up from $40 million (+150%) in Q3 2021 and sequentially up 49% from Q2 of $67 million
GAAP Gross Margin of 9%, up from 8% in Q3 2021
Non-GAAP Gross Margin of 13%, in-line with 13% in Q3 2021
Net Loss of $34 million versus Net Income of $116 million in Q3 2021
Adjusted EBITDA of $(13) million versus $(7) million in Q3 2021
Ended Q3 2022 with $294 million in cash, cash equivalents, and short-term investments