Filing Flows › Stem (STEM) › Q1 2026 › vs Q4 2025
Stem (STEM) Q1 2026 vs Q4 2025 (quarter over quarter)
Stem's revenue fell $18.1M (-38%) from $47.1M in Q4 2025 to $29.0M in Q1 2026.
Stem, Q1 2026: revenue $29.0M (-11% year over year), operating margin -49.0%, net loss $18.9M, operating cash flow −$8.3M. The chart draws each line against Q4 2025, the increases inside each band.
Every line
| Line | Q1 2026 | Q4 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $29.0M | $47.1M | −$18.1M | -38% |
| Net loss | $18.9M | $16.0M | $2.9M | +18% |
| Costs & expenses | $47.9M | $63.1M | −$15.2M | -24% |
| Operating costs | $43.2M | $55.5M | −$12.3M | -22% |
| Interest & other, net | $4.6M | $7.5M | −$2.9M | -39% |
| Income tax | $112K | $144K | −$32K | -22% |
| Cost of revenue | $18.1M | $24.1M | −$6.0M | -25% |
| Research & development | $6.6M | $7.1M | −$483K | -7% |
| Sales & marketing | $6.5M | $7.7M | −$1.2M | -15% |
| General & admin | $8.7M | $16.6M | −$8.0M | -48% |
| Operating cash sources | $20.8M | $5.9M | $14.9M | +252% |
| Depreciation & amortization | $10.5M | $11.8M | −$1.4M | -12% |
| Share-based compensation | $2.0M | $2.3M | −$240K | -10% |
| Cash used in operations | $8.3M | −$8.2M | $16.5M | — |
| Net loss absorbed | $18.9M | $16.0M | $2.9M | +18% |
| Working capital & other | $1.9M | −$10.1M | $12.0M | — |
Questions
How much did Stem's revenue grow quarter over quarter in Q1 2026?
Stem's revenue fell $18.1M (-38%) from $47.1M in Q4 2025 to $29.0M in Q1 2026.