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Stem, Inc. revenue

Stem, Inc.'s revenue was $156m in fiscal 2025, up 8.1% on the year before. Since fiscal 2019 ($17.6m) it has grown at a compound 44.0% a year. Over the last twelve months it was $148m.

Revenue history

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
Revenue1836127363462145156148
Growth on the year before—+106.9%+250.8%+185.0%+27.1%−68.7%+8.1%—
Gross profit−3−41334−116061
Gross margin−18.6%−10.8%1.0%9.1%0.8%−7.6%38.4%41.5%

Revenue as reported in the company's 10-K and 10-Q filings (for banks, net interest income plus non-interest income). Growth is left blank when the earlier figure was zero or negative.

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue YoY
Power Track Software Edge Hardware and Project and Professional Services Other $111M ▲ 23.8%
Services $87.7M ▲ 29.3%
Hardware $68.6M ▼ 10.7%
Edge Hardware $53.7M ▲ 18.3%
Power Track Software $37.6M ▲ 14.7%
Managed Services $30.2M ▲ 29.2%
Project and Professional Services and Other $19.9M ▲ 71.1%
Battery Hardware Resale $14.8M ▼ 52.7%

These categories overlap or exclude eliminations, so shares aren't shown.

Geography
Region Revenue Share YoY
United States $149M 95.1% ▲ 6.5%
Outside the US $7.7M 4.9% ▲ 49.3%

From Stem, Inc.'s 10-K filed March 5, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Revenue against peers

Application Software: the closest covered companies by revenue. Last twelve months.

CompanyRevenueGrowth3-year growth a year
Stem, Inc. $148m -5.1% -29.1%
Lucas GC Ltd $145m -1.9% —
Smartrent, Inc. $151m -2.8% -9.9%
Bigbear.ai Holdings, Inc. $142m -1.5% -2.9%
Agora, Inc. $141m 5.9% —
Expensify, Inc. $138m -4.3% -5.8%

Compare with peers

Head to head: LGCL vs STEMSMRT vs STEMBBAI vs STEM

More: Application Software stocks compared, Technology sector, rankings of US companies

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.