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Stem, Inc. cash flow statement

In fiscal 2025, Stem, Inc.'s operations generated $6.9m of cash; it spent $0 on capital projects, leaving free cash flow of $6.9m.

Cash flow statement

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 from operations−30−34−101−106−207−37712
Depreciation and amortisation1418244546454528
Stock-based pay2514294518108
Capital spending00112000
Free cash flow−30−34−102−108−209−37712
Free cash flow after stock pay−31−38−115−136−254−55−34
Shares issued—11——————

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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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.