Stem, Inc. (STEM) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
100 CALIFORNIA STREET, 14TH FLOOR SAN FRANCISCO, CA 94111 |
| State of Incorp. | |
| Fiscal Year End | December 31 |
| Industry (SIC) | 369 - Miscellaneous Electrical Machinery, Equipment, and Supplies (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | |||
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| Current Assets | ||||||
| Cash, cash equivalents, and short-term investments | 87,903 | 920,780 | 937 | |||
| Cash and cash equivalents | 87,903 | 747,780 | 937 | |||
| Short-term investments | 173,000 | |||||
| Receivables | 223,219 | 61,701 | ||||
| Inventory, net of allowances, customer advances and progress billings | 8,374 | 22,720 | ||||
| Inventory | 8,374 | 22,720 | ||||
| Prepaid expense | 628 | |||||
| Deferred costs | 43,159 | |||||
| Other current assets | 8,026 | 18,641 | ||||
| Other undisclosed current assets | 162,074 | 8 | ||||
| Total current assets: | 532,755 | 1,023,850 | 1,564 | |||
| Noncurrent Assets | ||||||
| Operating lease, right-of-use asset | 12,431 | 12,998 | ||||
| Property, plant and equipment | 106,114 | |||||
| Intangible assets, net (including goodwill) | 708,914 | 15,707 | ||||
| Goodwill | 546,649 | 1,741 | ||||
| Intangible assets, net (excluding goodwill) | 162,265 | 13,966 | ||||
| Contract with customer, asset, after allowance for credit loss | 90,757 | |||||
| Capitalized contract cost, net | 11,697 | 8,630 | ||||
| Asset, held-in-trust | 383,722 | |||||
| Other noncurrent assets | 65,339 | 24,531 | ||||
| Total noncurrent assets: | 889,138 | 167,980 | 383,722 | |||
| TOTAL ASSETS: | 1,421,893 | 1,191,830 | 385,286 | |||
| LIABILITIES AND EQUITY | ||||||
| Liabilities | ||||||
| Current Liabilities | ||||||
| Accounts payable and accrued liabilities | 169,089 | 61,719 | 2,561 | |||
| Employee-related liabilities | ✕ | ✕ | 7,453 | |||
| Accounts payable | 83,831 | 28,273 | 94 | |||
| Accrued liabilities | 85,258 | 25,993 | 2,467 | |||
| Deferred revenue | 64,311 | 9,158 | ||||
| Debt | 15,720 | 15,277 | ||||
| Other liabilities | 5,412 | 1,813 | ||||
| Due to related parties | ✕ | 50 | ||||
| Other undisclosed current liabilities | 12,466 | 198 | ||||
| Total current liabilities: | 266,998 | 87,967 | 2,809 | |||
| Noncurrent Liabilities | ||||||
| Long-term debt and lease obligation | 513,379 | 403,616 | ||||
| Long-term debt, excluding current maturities | 513,379 | 391,433 | ||||
| Liabilities, other than long-term debt | 89,349 | 32,420 | ||||
| Deferred revenue | 73,763 | 28,285 | ||||
| Asset retirement obligations | 4,262 | 4,135 | ||||
| Other liabilities | 362 | |||||
| Operating lease, liability | 10,962 | 12,183 | ||||
| Other undisclosed noncurrent liabilities | 134,721 | |||||
| Total noncurrent liabilities: | 602,728 | 436,036 | 134,721 | |||
| Total liabilities: | 869,726 | 524,003 | 137,531 | |||
| Temporary equity, carrying amount | 242,755 | |||||
| Equity | ||||||
| Equity, attributable to parent, including: | 551,626 | 667,827 | 5,000 | |||
| Common stock | 15 | 14 | ||||
| Additional paid in capital | 1,185,364 | 1,176,845 | 117,649 | |||
| Accumulated other comprehensive income (loss) | (1,672) | 20 | ||||
| Accumulated deficit | (632,081) | (509,052) | (112,652) | |||
| Other undisclosed equity, attributable to parent | 2 | |||||
| Equity, attributable to noncontrolling interest | 541 | |||||
| Total equity: | 552,167 | 667,827 | 5,000 | |||
| TOTAL LIABILITIES AND EQUITY: | 1,421,893 | 1,191,830 | 385,286 | |||
Income Statement (P&L) ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | ||
|---|---|---|---|---|---|
| Revenues | 362,980 | 127,371 | |||
| Cost of revenue | (329,888) | (126,124) | |||
| Gross profit: | 33,092 | 1,247 | |||
| Operating expenses | (164,213) | (84,321) | (3,500) | ||
| Operating loss: | (131,121) | (83,074) | (3,500) | ||
| Nonoperating income (expense) | (8,094) | (18,137) | (109,133) | ||
| Other nonoperating income | 2,374 | 898 | |||
| Interest and debt expense | (10,468) | (5,064) | |||
| Loss from continuing operations before equity method investments, income taxes: | (149,683) | (106,275) | (112,633) | ||
| Other undisclosed income (loss) from continuing operations before income taxes | 10,468 | 5,064 | 225,267 | ||
| Income (loss) from continuing operations before income taxes: | (139,215) | (101,211) | 112,633 | ||
| Income tax expense (benefit) | 15,161 | 709 | |||
| Income (loss) from continuing operations: | (124,054) | (101,211) | 113,342 | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | (101,211) | 113,342 | |
| Other undisclosed net loss | (225,975) | ||||
| Net loss available to common stockholders, diluted: | (124,054) | (101,211) | (112,633) | ||
Comprehensive Income ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | ||
|---|---|---|---|---|---|
| Net loss: | (124,054) | (101,211) | (112,633) | ||
| Other undisclosed comprehensive income (loss) | (1,692) | ||||
| Comprehensive loss: | (125,746) | (101,211) | (112,633) | ||
| Other undisclosed comprehensive income, net of tax, attributable to parent | 212 | ||||
| Comprehensive loss, net of tax, attributable to parent: | (125,746) | (100,999) | (112,633) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.