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Sep 30, 2021
Stem Q3 2021 Earnings Report
Stem achieved record revenue, gross margin, backlog, pipeline and AUM, driven by continued expansion of Athena® platform.
Key Takeaways
Stem, Inc. reported a record quarter with significant growth in revenue, gross margin, backlog, pipeline, and AUM. Revenue reached $39.8 million, a 334% increase year-over-year, and the company achieved a GAAP gross margin of 8%. Bookings were up 183% year-over-year, and contracted backlog increased by 25% sequentially.
Record revenues of $39.8 million, up 334% from the same quarter last year.
GAAP Gross Margin of 8% versus (19)% in the same quarter last year.
Record Bookings of $104 million, up 183% from the same quarter last year.
Record Contracted Backlog of $312 million, up 25% from the end of the second quarter.
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 50-60% of total 2021 revenue in Q4. The Company expects to provide 2022 guidance in its fourth quarter/full year 2021 earnings call in mid-to-late February 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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