Filing Flows › Stem (STEM) › Q1 2025
Stem (STEM) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 30, 2025
Stem (STEM) reported revenue of $32.5M for the first quarter 2025 (Q1 2025), +28% from a year earlier and -42% from the quarter before. Operating margin was -65.0%, net loss $25.0M (76.9% of revenue).
Stem, Q1 2025: revenue $32.5M (+28% year over year), operating margin -65.0%, net loss $25.0M, operating cash flow $8.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $32.5M | -42% | +28% |
| Operating profit | −$21.1M | — | — |
| Net earnings | −$25.0M | — | — |
| Operating cash flow | $8.5M | — | — |
What changed
Revenue was $32.5M in Q1 2025, up 28% year over year and down 42% from the previous quarter. Services and other revenue was the largest line at 55% of revenue. Hardware revenue added $4.2M year over year (up 39%), 59% of the total change.
Gross margin was 32.4%. Operating costs exceeded revenue by $21.1M, an operating margin of -65.0%. The quarter ended with a net loss of $25.0M, narrower than the previous quarter's $51.1M loss.
Operating cash flow was $8.5M. Non-cash charges added back $11.0M of depreciation and amortization and $4.3M of share-based compensation. Working capital and other items added $18.2M.
Questions
What was Stem's revenue in the first quarter 2025?
Stem (STEM) reported revenue of $32.5M for the first quarter 2025 (Q1 2025), +28% from a year earlier and -42% from the quarter before.
Was Stem profitable in the first quarter 2025?
Operating loss was $21.1M (-65.0% of revenue) and net loss $25.0M.
Source: Stem 10-Q on SEC EDGAR.