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Stem, Inc. balance sheet

At the end of fiscal 2025, Stem, Inc. had total assets of $309m, total liabilities of $558m and shareholders' equity of −$249m. It held $48.9m in cash against $184m of debt: net debt of $135m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash and equivalents13774888105564938
Receivables—1462223303593833
Inventory—2123827———
Total current assets0491,02453347313710089
Goodwill—22547547002
Total assets02061,1921,4221,357437309280
Accounts payable014288478301014
Deferred revenue (current)—3796454434444
Total current liabilities019188267251129111108
Long-term debt—52200129135
Total debt0106317448524526184184
Total liabilities0383524870930835558550
Shareholders' equity−25−177668552426−398−249−270
Non-controlling interests and other (assets − liabilities − equity)25———————
Net debt (negative = net cash)−1399−431360418470135146
Shares outstanding—————8m8m10m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Stem, Inc.'s SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Stem, Inc.