Stem Q2 2021 Earnings Report
Key Takeaways
Stem, Inc. reported a strong second quarter in 2021, with revenue reaching $19.3 million, a 339% increase compared to the same quarter last year. The company ended the quarter with $474 million in cash and zero debt.
Revenue increased by 339% year-over-year to $19.3 million.
Contracted backlog increased 13% sequentially to $250 million.
Contracted Assets Under Management (AUM) more than doubled year-over-year to 1.2 GWh.
The company reaffirms its full-year 2021 revenue guidance of $147 million and Adjusted EBITDA guidance of $(25) million.
Stem
Stem
Stem Revenue by Segment
Forward Guidance
The Company reaffirms its guidance of full-year 2021 revenue of $147 million and full-year 2021 Adjusted EBITDA of $(25) million. Consistent with prior guidance, the Company reaffirms that it expects to recognize 20-30% of total 2021 revenue in Q3, and 50-60% of total 2021 revenue in Q4.
Positive Outlook
- The Company believes that it has contracted for sufficient supply chain commitments to meet its 2021 revenue goal.
- The company will continue to diversify its supply chain.
- The company will adopt alternative technologies.
- The company will deploy its balance sheet to meet the significant growth in customer demand.
- Company expects to recognize 20-30% of total 2021 revenue in Q3, and 50-60% of total 2021 revenue in Q4.
Revenue & Expenses
Visualization of income flow from segment revenue to net income