Filing Flows › Stem (STEM) › Q2 2026
Stem (STEM) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 13, 2026
Stem (STEM) reported revenue of $33.7M for the second quarter 2026 (Q2 2026), -12% from a year earlier and +16% from the quarter before. Operating margin was -22.8%, net loss $14.4M (42.7% of revenue).
Stem, Q2 2026: revenue $33.7M (-12% year over year), operating margin -22.8%, net loss $14.4M, operating cash flow $342K. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $33.7M | +16% | -12% |
| Operating profit | −$7.7M | — | — |
| Net earnings | −$14.4M | — | -107% |
| Operating cash flow | $342K | — | — |
What changed
Revenue was $33.7M in Q2 2026, down 12% year over year and up 16% from the previous quarter. Edge hardware was the largest line at 44% of revenue. Battery hardware resale lost $5.1M year over year (down 95%), 109% of the total change.
Gross margin was 41.3%, up 7.9 points from Q2 2025. Operating costs exceeded revenue by $7.7M, an operating margin of -22.8%. Operating expenses fell 18% while revenue fell 12%. The quarter ended with a net loss of $14.4M, narrower than the previous quarter's $18.9M loss.
Operating cash flow was $342K. Non-cash charges added back $11.4M of depreciation and amortization and $1.5M of share-based compensation. Working capital and other items added $1.8M.
Questions
What was Stem's revenue in the second quarter 2026?
Stem (STEM) reported revenue of $33.7M for the second quarter 2026 (Q2 2026), -12% from a year earlier and +16% from the quarter before.
Was Stem profitable in the second quarter 2026?
Operating loss was $7.7M (-22.8% of revenue) and net loss $14.4M.
Source: Stem 10-Q on SEC EDGAR.