STEM Class A Stem, Inc. Class A Common Stock
NYSE · Electrical Equipment · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 13, 2026
$4.26
· of 52w range
· above low
· to high
$3.7052w low
$32.2352w high
Market Cap (MRQ)
$41M
P/E (TTM)
-0.4
EPS (TTM)
$-11.04
Revenue (TTM)
$148M
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52W Range
$4–$32
Analyst Rating
HOLD
Price Target
$7
P/E
-0.4
ROE
30.2%
Net Profit Margin
-49.4%
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STEM Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$4.26
Market Cap (MRQ)
$41M
P/E (TTM)
-0.4
EPS (TTM)
$-11.04
Revenue (TTM)
$148M
ROE (TTM)
30.2%
52W Range
$4–$32
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| June 23, 2025 | 1-for-20 | Reverse |
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$156M2019-12-31 → 2025-12-31
EPS$-9.182019-12-31 → 2025-12-31
Net margin-49.4%2021-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | STEM | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | -0.45Y avg ≈-124.4 | ≈-124.4 | · | · | |
| P/S (TTM) | 0.35Y avg ≈109.5 | ≈109.5 | 1.3 | Undervalued | |
| P/B (MRQ) | -0.25Y avg ≈31.0 | ≈31.0 | · | · | |
| Price / Cash Flow | 5.35Y avg ≈-179.2 | ≈-179.2 | · | · | |
| Price / Tangible Book (MRQ) | -0.1 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | STEM | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Gross Margin (TTM) | 41.5%5Y avg ≈8.3% | ≈8.3% | 28.6% | Top tier | |
| Operating Margin (TTM) | -29.1%5Y avg ≈-151.3% | ≈-151.3% | -43.7% | Top tier | |
| EBITDA Margin (TTM) | 1.0%5Y avg ≈-131.0% | ≈-131.0% | -43.7% | Top tier | |
| Pretax Margin (TTM) | -49.3%5Y avg ≈-130.0% | ≈-130.0% | -100.0% | Top tier | |
| Net Profit Margin (TTM) | -49.4%5Y avg ≈-129.3% | ≈-129.3% | -68.5% | Top tier | |
| ROA (TTM) | -22.2%5Y avg ≈-18.5% | ≈-18.5% | -65.4% | Top tier | |
| ROE (TTM) | 30.2%5Y avg ≈-1250.8% | ≈-1250.8% | -27.7% | Below avg | |
| ROIC | 22.2%5Y avg ≈31.4% | ≈31.4% | -0.87% | Top tier |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | STEM | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 0.85Y avg ≈3.5 | ≈3.5 | 1.2 | Low liquidity | |
| Quick Ratio | 0.85Y avg ≈3.3 | ≈3.3 | 0.7 | In line |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | STEM | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 8.1%5Y avg ≈80.5% | ≈80.5% | · | · | |
| Revenue CAGR 3Y | -24.5%5Y avg ≈37.7% | ≈37.7% | · | · | |
| Revenue CAGR 5Y | 33.9% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | STEM | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.45Y avg ≈0.3 | ≈0.3 | 0.5 | Weak | |
| Receivables Turnover | 3.25Y avg ≈2.3 | ≈2.3 | 3.6 | Weak | |
| Revenue / Employee | ≈$369.4K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-18.1%
Next Report
Oct 27, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 12, 2026 | $-1.58 | $-2.00 | 21.1% |
| March 31, 2026 | $-2.22 | $-2.35 | 5.5% | |
| Dec. 31, 2025 | $-1.89 | $-2.49 | 24.0% | |
| Sept. 30, 2025 | $-2.84 | $-2.43 | -17.0% | |
| June 30, 2025 | $-2.48 | $3.93 | -163.1% | |
| March 31, 2025 | $-3.00 | $-3.78 | 20.7% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $156M | $145M | $462M | $363M | $127M | $36M | $18M | |
| Cost of Revenue | $96M | $156M | $458M | $330M | $126M | $40M | $21M | |
| Gross Profit | $60M | $-11M | $4M | $33M | $1M | $-4M | $-3M | |
| R&D Expense | $35M | $51M | $57M | $38M | $23M | $16M | $15M | |
| SG&A Expense | $52M | $88M | $75M | $77M | $42M | $15M | $12M | |
| Operating Expenses | $116M | $828M | $183M | $164M | $84M | $45M | $45M | |
| Operating Income | $-56M | $-839M | $-179M | $-131M | $-83M | $-49M | $-48M | |
| Interest Expense | · | · | $15M | $10M | $17M | $21M | $13M | |
| Other Non-op | $1M | $3M | $3M | $2M | $898.0K | $-1M | $-503.0K | |
| Pretax Income | $138M | $-854M | $-140M | $-139M | $-101M | $-156M | $-59M | |
| Income Tax | $536.0K | $332.0K | $433.0K | $-15M | $0 | $5.0K | $6.0K | |
| Net Income | $138M | $-854M | $-140M | $-124M | $-101M | $-156M | $-59M | |
| EPS (Basic) | $16.52 | $-105.80 | $-18.05 | $-0.81 | $-0.96 | $-4.13 | $-1.51 | |
| EPS (Diluted) | $-9.18 | $-105.80 | $-18.05 | $-0.81 | $-0.96 | $-4.13 | $-1.51 | |
| Shares (Basic) | 8,338,759 | 8,072,127 | 7,779,198 | 153,413,743 | 105,561,139 | 40,064,087 | 42,811,383 | |
| Shares (Diluted) | 8,489,879 | 8,072,127 | 7,779,198 | 153,413,743 | 105,561,139 | 40,064,087 | 42,811,383 | |
| EBITDA | $-11M | $-794M | $-133M | $-86M | $-59M | $-4M | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $49M | $56M | $105M | $88M | $748M | $7M | · | |
| Short-term Investments | · | · | $8M | $162M | $173M | · | · | |
| Receivables | $38M | $59M | $303M | $223M | $62M | $14M | · | |
| Inventory | · | · | $27M | $8M | $23M | $21M | · | |
| Prepaid Expense | $5M | $6M | $6M | $6M | $3M | $698.0K | $1.6K | |
| Other Current Assets | $8M | $10M | $9M | $8M | $5M | $8M | · | |
| Current Assets | $100M | $137M | $473M | $533M | $1.02B | $49M | $1.6K | |
| PP&E (Net) | $44M | $59M | $74M | $91M | $106M | $124M | · | |
| Accum. Depreciation | $92M | $81M | $71M | $59M | $45M | $33M | · | |
| Goodwill | $0 | $0 | $547M | $547M | $2M | $2M | · | |
| Intangibles | $123M | $144M | $157M | $162M | $14M | $12M | · | |
| Other Non-current Assets | $25M | $76M | $82M | $65M | $25M | $8M | · | |
| Total Assets | $309M | $437M | $1.36B | $1.42B | $1.19B | $206M | $253.0K | |
| Accounts Payable | $10M | $30M | $78M | $84M | $28M | $14M | $35.1K | |
| Accrued Liabilities | $27M | $26M | $77M | $85M | $26M | $16M | $154.2K | |
| Short-term Debt | · | · | · | · | $0 | $34M | · | |
| Current Liabilities | $111M | $129M | $251M | $267M | $88M | $191M | $246.6K | |
| Capital Leases | $10M | $13M | $10M | $11M | $12M | $57.0K | · | |
| Other Non-current Liabilities | $820.0K | $35M | $416.0K | $362.0K | $0 | · | · | |
| Total Liabilities | $558M | $835M | $930M | $870M | $524M | $383M | $246.6K | |
| Total Debt | · | · | · | · | $0 | · | · | |
| Common Stock | $1.0K | $16.0K | $16.0K | $15.0K | $14.0K | $4.0K | · | |
| Paid-in Capital | $1.24B | $1.23B | $1.20B | $1.19B | $1.18B | $231M | $24.0K | |
| Retained Earnings | $-1.49B | $-1.63B | $-772M | $-632M | $-509M | $-408M | $-18.6K | |
| AOCI | $41.0K | $76.0K | $-42.0K | $-2M | $20.0K | $-192.0K | · | |
| Stockholders' Equity | $-249M | $-398M | $426M | $552M | $668M | $-177M | $-25M | |
| Liabilities + Equity | $309M | $437M | $1.36B | $1.42B | $1.19B | $206M | $253.0K | |
| Shares Outstanding | 8,489,540 | 8,139,884 | 155,932,880 | 154,540,197 | 144,671,624 | 40,202,785 | · |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $45M | $45M | $46M | $45M | $24M | $18M | $14M | |
| Stock-based Comp | $10M | $18M | $45M | $29M | $14M | $5M | $2M | |
| Deferred Tax | $-239.0K | $-110.0K | $-438.0K | $-16M | $0 | $0 | $0 | |
| Amort. of Intangibles | $15M | $15M | $16M | $17M | $0 | $0 | $3M | |
| Other Non-cash | $-186M | $754M | $-158M | $-41M | $-38M | · | · | |
| Operating Cash Flow | $7M | $-37M | $-207M | $-106M | $-101M | $-34M | $-30M | |
| Investing Cash Flow | $-7M | $-4M | $136M | $-544M | $-185M | $-12M | $-46M | |
| Stock Issued | · | · | · | · | · | $11M | · | |
| Net Stock Activity | · | · | · | · | · | $11M | · | |
| Financing Cash Flow | $-8M | $-8M | $90M | $-9M | $1.03B | $40M | $67M | |
| Net Change in Cash | $-7M | $-48M | $19M | $-660M | $741M | $-6M | $-9M | |
| Taxes Paid | $481.0K | $700.0K | $200.0K | · | · | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.4% | -7.6% | 0.79% | 9.1% | 0.98% | · | · | |
| Operating Margin | -35.6% | -580.6% | -38.9% | -36.1% | -65.2% | · | · | |
| Net Margin | 88.2% | -590.7% | -30.4% | -34.2% | -79.5% | · | · | |
| Pretax Margin | 88.5% | -590.4% | -30.3% | -38.4% | -79.5% | · | · | |
| EBITDA Margin | -6.9% | -549.5% | -28.8% | -23.6% | -46.0% | · | · | |
| ROA | 36.9% | -95.2% | -10.1% | -9.5% | -14.5% | -29.2% | · | |
| ROE | -42.5% | -6139.1% | -28.7% | -20.3% | -23.1% | 294.6% | · | |
| ROIC | 22.2% | 210.8% | -42.2% | -21.2% | -12.4% | · | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.9 | 1.1 | 1.9 | 2.0 | 11.6 | 0.6 | · | |
| Quick Ratio | 0.8 | 0.9 | 1.7 | 1.8 | 11.2 | 0.3 | · | |
| Debt / Equity | · | · | · | · | 0.0 | · | · | |
| Interest Coverage | · | · | -12.0 | -12.5 | -4.8 | · | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.2 | 0.3 | 0.3 | 0.2 | · | · | |
| Inventory Turnover | · | · | 26.1 | 21.2 | 5.8 | · | · | |
| Receivables Turnover | 3.2 | 0.8 | 1.8 | 2.5 | 3.4 | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $-29.38 | $-2.45 | $2.73 | $3.57 | $4.62 | · | · | |
| Revenue / Share | $18.41 | $0.90 | $2.97 | $2.37 | $1.21 | · | · | |
| Cash Flow / Share | $0.81 | $-0.23 | $-1.33 | $-0.69 | $-0.96 | · | · | |
| Cash / Share | $5.76 | $0.35 | $0.68 | $0.57 | $5.17 | · | · | |
| EPS (TTM) | $-9.18 | $-105.80 | $-18.05 | $-0.81 | $-0.96 | $-4.13 | · |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 8.1% | -68.7% | 27.2% | 185.0% | 250.8% | · | · | |
| Revenue CAGR 3Y | -24.5% | 4.3% | 133.4% | · | · | · | · | |
| Revenue CAGR 5Y | 33.9% | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $156M | $145M | $462M | $363M | $127M | $36M | · | |
| Net Income TTM | $138M | $-854M | $-140M | $-124M | $-101M | $-156M | · | |
| Market Cap | $128M | $1.96B | $12.10B | $27.63B | $54.89B | · | · | |
| Enterprise Value | · | · | · | · | $53.97B | · | · | |
| P/E | -1.6 | -0.1 | -4.3 | -220.7 | -395.2 | -99.1 | · | |
| P/S | 0.8 | 13.6 | 26.2 | 76.1 | 430.9 | · | · | |
| P/B | -0.5 | -4.9 | 28.4 | 50.1 | 82.2 | · | · | |
| P / Tangible Book | · | · | · | · | 84.2 | · | · | |
| P / Cash Flow | 18.6 | -53.6 | -58.3 | -260.6 | -542.0 | · | · | |
| EV / EBITDA | · | · | · | · | -920.9 | · | · | |
| EV / Revenue | · | · | · | · | 423.7 | · | · | |
| Earnings Yield | -61.0% | -877.3% | -23.3% | -0.45% | -0.25% | -1.0% | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $34M | $29M | $47M | $38M | $38M | $33M | $56M | $29M | $34M | $25M | $167M | $134M | $93M | $67M | $155M | $100M | |
| Cost of Revenue | $20M | $18M | $24M | $25M | $26M | $22M | $58M | $23M | $25M | $50M | $156M | $154M | $81M | $66M | $143M | $90M | |
| Gross Profit | $14M | $11M | $23M | $14M | $13M | $11M | $-2M | $6M | $9M | $-24M | $11M | $-20M | $12M | $994.0K | $13M | $9M | |
| R&D Expense | $6M | $7M | $7M | $7M | $10M | $11M | $11M | $11M | $15M | $14M | $14M | $14M | $14M | $13M | $10M | $11M | |
| SG&A Expense | $8M | $9M | $17M | $13M | $9M | $14M | $26M | $27M | $16M | $19M | $16M | $22M | $19M | $18M | $23M | $18M | |
| Operating Expenses | $22M | $25M | $31M | $26M | $26M | $32M | $45M | $151M | $589M | $44M | $45M | $48M | $47M | $44M | $46M | $42M | |
| Operating Income | $-8M | $-14M | $-8M | $-13M | $-13M | $-21M | $-47M | $-144M | $-580M | $-68M | $-34M | $-68M | $-35M | $-43M | $-34M | $-33M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $5M | · | $4M | $4M | $2M | · | $3M | |
| Other Non-op | $308.0K | $349.0K | $-156.0K | $379.0K | $374.0K | $496.0K | $437.0K | $793.0K | $794.0K | $566.0K | $807.0K | $713.0K | $2M | $-439.0K | $552.0K | $863.0K | |
| Pretax Income | $-14M | $-19M | $-16M | $-24M | $203M | $-25M | $-51M | $-148M | $-582M | $-72M | $-38M | $-77M | $20M | $-45M | $-35M | $-34M | |
| Income Tax | $13.0K | $112.0K | $144.0K | $-141.0K | $475.0K | $58.0K | $-12.0K | $129.0K | $62.0K | $153.0K | $79.0K | $-46.0K | $491.0K | $-91.0K | $40.0K | $19.0K | |
| Net Income | $-14M | $-19M | $-16M | $-24M | $203M | $-25M | $-51M | $-148M | $-582M | $-72M | $-38M | $-77M | $19M | $-45M | $-35M | $-34M | |
| EPS (Basic) | $-1.58 | $-2.22 | $-4.80 | $-2.84 | $24.31 | $-3.05 | $-15.29 | $-18.24 | $-71.81 | $-0.46 | $-17.39 | $-0.49 | $0.12 | $-0.29 | $-0.23 | $-0.22 | |
| EPS (Diluted) | $-1.58 | $-2.22 | $-4.40 | $-2.84 | $-1.79 | $-3.05 | $-15.29 | $-18.24 | $-71.81 | $-0.46 | $-17.01 | $-0.49 | $-0.26 | $-0.29 | $-0.23 | $-0.22 | |
| Shares (Basic) | 9,110,452 | 8,517,041 | · | 8,376,032 | 8,330,679 | 8,194,490 | · | 8,131,700 | 8,107,947 | 158,180,137 | · | 155,829,348 | 155,619,179 | 154,966,163 | · | 154,392,573 | |
| Shares (Diluted) | 9,110,452 | 8,517,041 | · | 8,376,032 | 8,481,799 | 8,194,490 | · | 8,131,700 | 8,107,947 | 158,180,137 | · | 155,829,348 | 155,804,953 | 154,966,163 | · | 154,392,573 | |
| EBITDA | $-8M | $-4M | · | $-13M | $-13M | $-10M | · | $-144M | $-580M | $-57M | · | $-68M | $-35M | $-32M | · | $-33M |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $38M | $37M | $49M | $43M | $41M | $59M | $56M | $75M | $90M | $113M | $105M | $97M | $75M | $118M | $88M | $100M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | · | · | $28M | $63M | $88M | · | $193M | |
| Receivables | $33M | $33M | $38M | $36M | $43M | $35M | $59M | $93M | $206M | $240M | · | $289M | $294M | $233M | · | $144M | |
| Inventory | · | · | · | · | · | · | · | · | · | $24M | · | $66M | $146M | $43M | · | $29M | |
| Prepaid Expense | · | · | $5M | · | · | · | $6M | · | · | · | · | · | · | · | · | · | |
| Other Current Assets | $10M | $8M | $8M | $10M | $11M | $8M | $10M | $10M | $11M | $8M | · | $11M | $13M | $7M | · | $9M | |
| Current Assets | $89M | $85M | $100M | $94M | $99M | $111M | $137M | $228M | $360M | $406M | · | $511M | $613M | $511M | · | $537M | |
| PP&E (Net) | $34M | $36M | $44M | $48M | $51M | $56M | $59M | $64M | $68M | $71M | · | $81M | $85M | $88M | · | $95M | |
| Accum. Depreciation | $92M | $90M | $92M | $89M | $86M | $85M | $81M | $78M | $75M | $72M | · | $66M | $62M | $61M | · | $56M | |
| Goodwill | $2M | · | · | · | · | · | · | $0 | $0 | $547M | · | $547M | $547M | $547M | · | $547M | |
| Intangibles | $113M | $117M | $123M | $129M | $135M | $142M | $144M | $148M | $152M | $155M | · | $158M | $159M | $162M | · | $164M | |
| Other Non-current Assets | $24M | $25M | $25M | $73M | $74M | $76M | $76M | $77M | $91M | $84M | · | $77M | $73M | $60M | · | $53M | |
| Total Assets | $280M | $282M | $309M | $363M | $379M | $405M | $437M | $538M | $692M | $1.28B | · | $1.40B | $1.50B | $1.39B | · | $1.42B | |
| Accounts Payable | $14M | $7M | $10M | $11M | $11M | $20M | $30M | $47M | $63M | $62M | · | $85M | $103M | $113M | · | $95M | |
| Accrued Liabilities | $22M | $26M | $27M | $30M | $30M | $28M | $26M | $58M | $63M | $78M | · | $61M | $56M | $59M | · | $62M | |
| Current Liabilities | $108M | $101M | $111M | $114M | $112M | $120M | $129M | $207M | $217M | $237M | · | $269M | $307M | $276M | · | $240M | |
| Capital Leases | $10M | $11M | $10M | $11M | $12M | $13M | $13M | $13M | $12M | $10M | · | $11M | $12M | $13M | · | $11M | |
| Other Non-current Liabilities | $729.0K | $664.0K | $820.0K | $35M | $35M | $35M | $35M | $643.0K | $599.0K | $436.0K | · | $565.0K | $563.0K | $444.0K | · | $391.0K | |
| Total Liabilities | $550M | $548M | $558M | $598M | $593M | $822M | $835M | $881M | $894M | $913M | · | $945M | $984M | $877M | · | $840M | |
| Common Stock | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $17.0K | $16.0K | $16.0K | $16.0K | $16.0K | · | $16.0K | $16.0K | $16.0K | · | $15.0K | |
| Paid-in Capital | $1.25B | $1.24B | $1.24B | $1.24B | $1.23B | $1.23B | $1.23B | $1.23B | $1.22B | $1.22B | · | $1.19B | $1.18B | $1.19B | · | $1.18B | |
| Retained Earnings | $-1.52B | $-1.51B | $-1.49B | $-1.47B | $-1.45B | $-1.65B | $-1.63B | $-1.58B | $-1.43B | $-845M | · | $-735M | $-658M | $-677M | · | $-597M | |
| AOCI | $-141.0K | $179.0K | $41.0K | $175.0K | $348.0K | $266.0K | $76.0K | $302.0K | $94.0K | $154.0K | · | $23.0K | $-88.0K | $-2.0K | · | $-2M | |
| Stockholders' Equity | $-270M | $-266M | $-249M | $-236M | $-214M | $-417M | $-398M | $-344M | $-203M | $372M | · | $453M | $519M | $517M | · | $577M | |
| Liabilities + Equity | $280M | $282M | $309M | $363M | $379M | $405M | $437M | $538M | $692M | $1.28B | · | $1.40B | $1.50B | $1.39B | · | $1.42B | |
| Shares Outstanding | 9,607,873 | 8,567,751 | 8,489,540 | 8,389,951 | 8,358,552 | 166,352,779 | 8,139,884 | 162,714,738 | 162,587,526 | 161,526,782 | · | 155,883,088 | 155,796,411 | 155,508,303 | · | 154,487,778 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $11M | $10M | $12M | $11M | $11M | $11M | $12M | $11M | $11M | $11M | $13M | $11M | $11M | $11M | $13M | $11M | |
| Stock-based Comp | $1M | $2M | $2M | $2M | $1M | $4M | $-3M | $7M | $7M | $8M | $17M | $11M | $10M | $7M | $8M | $8M | |
| Deferred Tax | · | · | · | · | · | · | $-110.0K | $0 | $0 | $0 | $-103.0K | $0 | $0 | $-335.0K | $-409.0K | $0 | |
| Amort. of Intangibles | · | · | · | · | · | · | $-5M | $7M | $7M | $7M | $-3M | $5M | $7M | $6M | $-300.0K | $6M | |
| Other Non-cash | · | $-2M | · | · | · | $18M | · | · | · | $53M | · | · | · | $-9M | · | · | |
| Operating Cash Flow | $342.0K | $-8M | $8M | $11M | $-21M | $9M | $-15M | $-9M | $-12M | $-621.0K | $-2M | $-4M | $-165M | $-36M | $-37M | $-36M | |
| Investing Cash Flow | $-1M | $-1M | $-927.0K | $-1M | $-1M | $-4M | $-3M | $-2M | $-3M | $5M | $15M | $32M | $21M | $68M | $28M | $-16M | |
| Financing Cash Flow | $3M | $-3M | $-1M | $-8M | $5M | $-3M | $-1M | $-3M | $-7M | $3M | $-5M | $-5M | $102M | $-2M | $-2M | $1M | |
| Net Change in Cash | $2M | $-12M | $6M | $2M | $-18M | $2M | $-19M | $-14M | $-22M | $7M | $8M | $23M | $-42M | $30M | $-12M | $-51M |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 41.3% | 37.4% | · | 35.5% | 33.4% | 32.4% | · | 21.1% | 27.6% | -95.0% | · | -15.2% | 12.8% | 1.5% | · | 9.2% | |
| Operating Margin | -22.8% | -49.0% | · | -33.6% | -34.8% | -65.0% | · | -493.2% | -1705.5% | -267.0% | · | -51.0% | -37.5% | -63.3% | · | -32.8% | |
| Net Margin | -42.7% | -65.3% | · | -62.2% | 527.8% | -76.9% | · | -506.3% | -1712.6% | -283.9% | · | -57.6% | 20.6% | -66.4% | · | -34.4% | |
| Pretax Margin | -42.7% | -64.9% | · | -62.6% | 529.0% | -76.7% | · | -505.9% | -1712.4% | -283.3% | · | -57.7% | 21.1% | -66.6% | · | -34.4% | |
| EBITDA Margin | -22.8% | -12.9% | · | -33.6% | -34.8% | -31.2% | · | -493.2% | -1705.5% | -224.6% | · | -51.0% | -37.5% | -46.8% | · | -32.8% | |
| ROA | -4.4% | -5.5% | · | -5.3% | 37.8% | -3.0% | · | -15.3% | -53.0% | -5.4% | · | -5.5% | 1.3% | -3.2% | · | -3.1% | |
| ROE | 5.9% | 5.5% | · | 8.2% | -97.1% | 108.9% | · | -272.7% | -368.9% | -16.3% | · | -15.0% | 3.4% | -7.8% | · | -5.7% | |
| ROIC | 2.9% | 5.4% | · | 5.4% | 6.2% | 5.1% | · | 42.0% | 285.4% | -18.3% | · | -15.1% | -6.6% | -8.2% | · | -5.7% |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.8 | 0.8 | · | 0.8 | 0.9 | 0.9 | · | 1.1 | 1.7 | 1.7 | · | 1.9 | 2.0 | 1.9 | · | 2.2 | |
| Quick Ratio | 0.7 | 0.7 | · | 0.7 | 0.7 | 0.8 | · | 0.8 | 1.4 | 1.5 | · | 1.5 | 1.4 | 1.6 | · | 1.8 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -14.4 | · | -15.5 | -8.9 | -24.0 | · | -12.9 |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.1 | 0.1 | 0.0 | · | 0.1 | |
| Inventory Turnover | · | · | · | · | · | · | · | · | · | 1.5 | · | 3.2 | 0.8 | 1.1 | · | 3.4 | |
| Receivables Turnover | 0.9 | 0.9 | · | 0.6 | 0.3 | 0.2 | · | 0.2 | 0.1 | 0.1 | · | 0.6 | 0.5 | 0.4 | · | 1.1 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $-28.06 | $-31.08 | · | $-28.09 | $-25.61 | $-2.51 | · | $-2.11 | $-1.25 | $2.30 | · | $2.91 | $3.33 | $3.32 | · | $3.73 | |
| Revenue / Share | $3.69 | $3.40 | · | $4.57 | $4.52 | $0.20 | · | $0.18 | $0.21 | $0.16 | · | $0.86 | $0.60 | $0.43 | · | $0.64 | |
| Cash Flow / Share | · | $-0.98 | · | · | · | $0.05 | · | · | · | $-0.00 | · | · | · | $-0.23 | · | · | |
| Cash / Share | $4.00 | $4.27 | · | $5.14 | $4.88 | $0.35 | · | $0.46 | $0.55 | $0.70 | · | $0.62 | $0.48 | $0.76 | · | $0.65 | |
| EPS (TTM) | $-11.04 | $-11.25 | · | $-22.97 | $-38.37 | $-108.39 | · | $-107.52 | $-89.77 | $-18.22 | · | $-1.27 | $-1.00 | $-0.95 | · | $1.65 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $148M | $153M | · | $165M | $156M | $152M | · | $256M | $361M | $420M | · | $450M | $415M | $389M | · | $260M | |
| Net Income TTM | $-73M | $144M | · | $103M | $-22M | $-807M | · | $-841M | $-769M | $-168M | · | $-138M | $-95M | $-146M | · | $-123M | |
| Market Cap | $75M | $76M | · | $147M | $52M | $1.16B | · | $1.13B | $3.61B | $7.07B | · | $13.22B | $17.82B | $17.63B | · | $41.22B | |
| P/E | -0.7 | -0.8 | · | -0.8 | -0.2 | -0.1 | · | -0.1 | -0.2 | -2.4 | · | -66.8 | -114.4 | -119.4 | · | 161.7 | |
| P/S | 0.5 | 0.5 | · | 0.9 | 0.3 | 7.7 | · | 4.4 | 10.0 | 16.9 | · | 29.4 | 42.9 | 45.3 | · | 158.3 | |
| P/B | -0.3 | -0.3 | · | -0.6 | -0.2 | -2.8 | · | -3.3 | -17.8 | 19.0 | · | 29.2 | 34.3 | 34.1 | · | 71.5 | |
| P / Cash Flow | · | -9.1 | · | · | · | 136.4 | · | · | · | -11392.7 | · | · | · | -492.3 | · | · | |
| Earnings Yield | -141.4% | -127.3% | · | -131.1% | -615.9% | -1548.4% | · | -1544.8% | -404.4% | -41.6% | · | -1.5% | -0.87% | -0.84% | · | 0.62% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $156M | $145M | $462M | $363M | $127M |
| Gross Margin % | 38.4% | -7.6% | 0.79% | 9.1% | 0.98% |
| Operating Margin % | -35.6% | -580.6% | -38.9% | -36.1% | -65.2% |
| Net Income | $138M | $-854M | $-140M | $-124M | $-101M |
| Diluted EPS | $-9.18 | $-105.80 | $-18.05 | $-0.81 | $-0.96 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | · | · | · | · | 0.0 |
| Current Ratio | 0.9 | 1.1 | 1.9 | 2.0 | 11.6 |
| Quick Ratio | 0.8 | 0.9 | 1.7 | 1.8 | 11.2 |
No data for this statement
Not enough fundamentals data to build this statement yet.
Institutional owners (13F) 81 filers · $22.9M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
81
Value held
$22.9M
New positions
9
Exited positions
12
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 9 (-5 vs prior Q) | 12 (-11 vs prior Q) | 18 (+2 vs prior Q) | 20 (-6 vs prior Q) | +96K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD GROUP INC | $5,965,565 | 396,383 | 26.05% | Shares |
| MARSHALL WACE, LLP | $3,167,799 | 405,608 | 13.83% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $2,821,355 | 361,249 | 12.32% | Shares |
| BlackRock, Inc. | $1,284,565 | 164,477 | 5.61% | Shares |
| Trexquant Investment LP | $864,098 | 110,640 | 3.77% | Shares |
| TWO SIGMA INVESTMENTS, LP | $806,258 | 103,234 | 3.52% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $727,064 | 93,094 | 3.17% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $726,785 | 93,014 | 3.17% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $519,224 | 66,482 | 2.27% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $503,745 | 64,500 | 2.20% | Call option |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $465,476 | 59,600 | 2.03% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $444,373 | 56,898 | 1.94% | Shares |
| TWO SIGMA ADVISERS, LP | $416,735 | 27,690 | 1.82% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $383,471 | 49,100 | 1.67% | Put option |
| Longaeva Partners L.P. | $376,333 | 48,186 | 1.64% | Shares |
| STATE STREET CORP | $298,951 | 38,278 | 1.31% | Shares |
| MORGAN STANLEY | $294,132 | 37,661 | 1.28% | Shares |
| ROYAL BANK OF CANADA | $231,000 | 29,636 | 1.01% | Shares |
| XTX Topco Ltd | $230,254 | 29,482 | 1.01% | Shares |
| CITIGROUP INC | $222,788 | 28,526 | 0.97% | Shares |
| HSBC HOLDINGS PLC | $221,423 | 28,424 | 0.97% | Shares |
| Keyframe Capital Partners, L.P. | $202,466 | 25,924 | 0.88% | Shares |
| CITADEL ADVISORS LLC | $198,374 | 25,400 | 0.87% | Call option |
| UBS Group AG | $196,281 | 25,132 | 0.86% | Shares |
| CITADEL ADVISORS LLC | $185,308 | 23,727 | 0.81% | Shares |
| NOMURA HOLDINGS INC | $185,199 | 23,713 | 0.81% | Shares |
| NORTHERN TRUST CORP | $165,892 | 21,241 | 0.72% | Shares |
| HighTower Advisors, LLC | $126,108 | 16,147 | 0.55% | Shares |
| Engineers Gate Manager LP | $99,187 | 12,700 | 0.43% | Shares |
| BANK OF AMERICA CORP /DE/ | $88,917 | 11,385 | 0.39% | Shares |
| GOLDMAN SACHS GROUP INC | $88,612 | 11,346 | 0.39% | Shares |
| Balyasny Asset Management L.P. | $75,890 | 9,717 | 0.33% | Shares |
| Zweig-DiMenna Associates LLC | $64,839 | 8,302 | 0.28% | Shares |
| Point72 Asia (Singapore) Pte. Ltd. | $57,587 | 3,287 | 0.25% | Shares |
| WELLS FARGO & COMPANY/MN | $36,160 | 4,630 | 0.16% | Shares |
| GROUP ONE TRADING LLC | $31,662 | 4,054 | 0.14% | Shares |
| Steward Partners Investment Advisory, LLC | $27,233 | 3,487 | 0.12% | Shares |
| Vanguard Global Advisers, LLC | $22,274 | 2,852 | 0.10% | Shares |
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC | $14,810 | 1,870 | 0.06% | Shares |
| PNC Financial Services Group, Inc. | $8,435 | 1,080 | 0.04% | Shares |
| CIBC Private Wealth Group LLC | $8,340 | 476 | 0.04% | Shares |
| SIMPLEX TRADING, LLC | $6,560 | 840 | 0.03% | Shares |
| OSAIC HOLDINGS, INC. | $5,488 | 703 | 0.02% | Shares |
| JPMORGAN CHASE & CO | $5,326 | 712 | 0.02% | Shares |
| FMR LLC | $5,061 | 648 | 0.02% | Shares |
| NATIONAL BANK OF CANADA /FI/ | $4,014 | 514 | 0.02% | Shares |
| Rockefeller Capital Management L.P. | $3,062 | 392 | 0.01% | Shares |
| DEUTSCHE BANK AG\ | $2,710 | 347 | 0.01% | Shares |
| CWM, LLC | $2,175 | 246 | 0.01% | Shares |
| Hurley Capital, LLC | $1,913 | 245 | 0.01% | Shares |
Company insiders 33 insiders · 17 officers · 11 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Arun Narayanan | Chief Executive Officer | June 30, 2026 M | 19,109 | 0 | 2 | $-72,881 |
| John Eugene Carrington | CEO and Director | May 28, 2024 A | 506,585 | 0 | 0 | $0 |
| Brian Musfeldt | Chief Financial Officer | July 17, 2026 M | 2,379 | 0 | 1 | $-6,086 |
| Spencer Doran Hole | Chief Financial Officer & EVP | Sept. 3, 2024 A | · | 0 | 0 | $0 |
| William John Bush | Chief Financial Officer | May 28, 2024 A | 390,217 | 0 | 0 | $0 |
| Michael James Carlson | President, Managed Services | Sept. 26, 2026 M | 26,020 | 0 | 3 | $-34,374 |
| Matthew Tappin | President, Software Products | June 30, 2026 M | 9,577 | 0 | 7 | $-198,017 |
| Robert Schaefer | President, Transformational | March 19, 2024 S | 716,110 | 0 | 0 | $0 |
| Mark William Triplett | Chief Operating Officer | April 12, 2022 M | 323,946 | 0 | 0 | $0 |
| Saul R. Laureles | Chief Legal Officer | June 30, 2026 M | 34,525 | 0 | 3 | $-18,598 |
| Jeffrey T Cabot | Chief Accounting Officer | Jan. 5, 2026 A | · | 0 | 0 | $0 |
| Rahul Shukla | Chief Accounting Officer | Nov. 18, 2025 S | 0 | 0 | 1 | $-59,556 |
| Hofeldt Albert | Chief Technology Officer | Feb. 19, 2025 M | 185,863 | 0 | 0 | $0 |
| Kim Homenock | Chief People Officer | Feb. 19, 2025 M | 184,568 | 0 | 0 | $0 |
| Alan Russo | Chief Revenue Officer | May 28, 2024 A | 212,910 | 0 | 0 | $0 |
| Patel Prakesh | Chief Strategy Officer | May 28, 2024 A | 181,668 | 0 | 0 | $0 |
| Larsh Johnson | Chief Technology Officer | March 13, 2024 S | 78,739 | 0 | 0 | $0 |
| Vasudevan Guruswamy | Director | Aug. 7, 2026 M | 10,597 | 0 | 0 | $0 |
| Anil Tammineedi | Director | Aug. 7, 2026 M | 15,473 | 0 | 0 | $0 |
| Adam Daley | Director | Aug. 7, 2026 M | 19,535 | 0 | 0 | $0 |
| Krishna Shivram | Director | Aug. 7, 2026 M | 10,597 | 0 | 0 | $0 |
| Gerard Cunningham | Director | Aug. 28, 2024 A | 12,138 | 0 | 0 | $0 |
| Jane Woodward | Director | June 7, 2024 M | 49,511 | 0 | 0 | $0 |
| Michael C Morgan | Director | June 7, 2024 M | 43,987 | 0 | 0 | $0 |
| Lisa L Troe | Director | June 15, 2023 M | 19,872 | 0 | 0 | $0 |
| Park C Shaper | Director | April 28, 2021 M | 40,000 | 0 | 0 | $0 |
| Desiree G Rogers | Director | April 28, 2021 M | 40,000 | 0 | 0 | $0 |
| Star Peak Sponsor LLC | 10% owner | April 28, 2021 M | 9,509,626 | 0 | 0 | $0 |
| Eric J Scheyer | 10% owner | April 28, 2021 M | 9,509,626 | 0 | 0 | $0 |
| Alec N Litowitz | 10% owner | April 28, 2021 M | 9,509,626 | 0 | 0 | $0 |
| Ira M Birns | · | Aug. 7, 2026 M | 14,207 | 0 | 0 | $0 |
| David S Buzby | · | Aug. 7, 2026 M | 7,486 | 0 | 0 | $0 |
| Laura D Tyson | · | Aug. 7, 2026 M | 15,473 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 4 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
STEM Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 11 analysts
HOLD
Median target
$7.50
+76.1%
0 0.0%
Strong Buy
0 0.0%
Buy
8 72.7%
Hold
1 9.1%
Sell
2 18.2%
Strong Sell
12-Month Price Target
5 analysts · 2026-09-30Mean target $7.45 +74.9%
← Below all targets
Current price $4.26
Low$6.75
Mean$7.45
High$8.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| STEM | $128M | -1.6 | 8.1% | 88.2% | -42.5% | 38.4% |
| WATT | $9M | -0.6 | 633.1% | -170.4% | -90.2% | 36.0% |
| TYGO | $97M | -46.0 | 91.7% | -1.8% | -12.8% | 42.8% |
| STI | $53M | -0.7 | · | -307146.1% | 385.4% | 50.2% |
| FTCI | · | -1.9 | 110.5% | · | · | · |
| ZEO | · | · | · | · | · | · |
| BEEM | $29M | -1.0 | -42.8% | -95.6% | -104.4% | 12.5% |
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Source: SEC 10-Q filed Aug 13, 2026