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Dec 31, 2023
Stem Q4 2023 Earnings Report
Stem achieved a key milestone with positive adjusted EBITDA in Q4 2023 and expects to generate at least $50 million of operating cash flow in 2024.
Key Takeaways
Stem announced positive adjusted EBITDA in Q4 2023 and expects to generate at least $50 million of operating cash flow in 2024. Q4 revenue increased by 8% year-over-year to $167.4 million. The company also announced its first PowerBidder Pro contract with Mercuria, a leading energy trader.
Achieved positive adjusted EBITDA in Q4 2023.
Awarded PowerBidder Pro contract by Mercuria Energy Trading.
Bookings of $256.1 million in Q4 2023.
Contracted backlog of $1.9 billion at end of Q4 2023.
Forward Guidance
The Company is introducing full-year 2024 guidance ranges as follows: Revenue $600 - $700 million, Non-GAAP Gross Margin 15% - 20%, Adjusted EBITDA $5 - $20 million, Bookings $1,500 - $2,000 million, CARR (year-end) $115 - $130 million, Operating Cash Flow Greater than $50 million.
Positive Outlook
- Revenue $600 - $700 million
- Non-GAAP Gross Margin 15% - 20%
- Adjusted EBITDA $5 - $20 million
- Bookings $1,500 - $2,000 million
- Operating Cash Flow Greater than $50 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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