Stem’s Q4 Revenue Falls 67% on Lower Battery Sales

10 Mar 2025 CW Team

Smart energy storage company Stem reported a steep 67% year-over-year revenue drop in Q4 2024, with revenue falling to $55.8 million from $167.4 million. The decline was mainly driven by reduced battery hardware sales following the company’s shift toward a software-focused strategy.

Stem’s net loss widened to $51.1 million, a 35% increase from $37.7 million in Q4 2023, while adjusted EBITDA slipped to $4.2 million from $4.6 million in the previous year. The company’s annual recurring revenue (ARR) fell 6% to $86 million.

For the full year 2024, Stem reported a net loss of $854 million, significantly up from $140.4 million in 2023, largely due to a $104.1 million bad debt expense and a $547.2 million goodwill impairment in Q2. Annual revenue plummeted 69% to $144.6 million from $461.5 million in 2023.

Despite the losses, Stem’s solar monitoring assets under management grew to 29.9 GW from 27.5 GW at the end of 2023. The company also secured a five-year deal with Hungary’s Neovolt to monitor and optimize a 484 MW solar portfolio using its PowerTrack Web platform.

Looking ahead, Stem expects 2025 revenue between $125 million and $175 million, with $120 million to $140 million from high-margin software, edge devices, and services.

Battery hardware resales are projected to contribute $35 million. The company anticipates adjusted EBITDA between -$10 million and $5 million and aims to improve cash flow by cutting operating expenses.

(mercom)

Equipment

11 Dec 2025

Caterpillar Debuts Three New Cat Excavators at EXCON 2025

Caterpillar Inc., a global leader in construction and mining machinery, strengthened its commitment to India’s infrastructure growth with the debut of three new Cat® hydraulic excavators at EXCON 2025, held from December 9–13 at the Bangalore International Exhibition Centre. The new models—Cat 321, Cat 322 and Cat 324—mark a significant step forward in delivering efficient, digital-ready equipment tailored for India’s evolving construction needs.Designed to support sustainability and productivity on modern jobsites, the machines feature advanced powertrains and intelligent electrohy..

JK Tyre Expands OTR Lineup with Four New Launches at EXCON 2025

JK Tyre & Industries, one of India’s leading tyre manufacturers, introduced four new Off-the-Road (OTR) tyres at the 13th edition of CII EXCON 2025, South Asia’s largest construction equipment exhibition, underway at the Bangalore International Exhibition Centre. The latest additions strengthen the company’s OTR portfolio and reaffirm its focus on delivering advanced mobility solutions for construction, mining and industrial operations.The new tyres were unveiled by R Mukhopadhyay, Director (R&D), JK Tyre. Among the highlights was the debut of the SKY GRIP, a specialised tyre des..

ACE, Sanghvi Movers Ink MOU to Boost India-Made Heavy Crane Adoption

Action Construction Equipment (ACE), the world’s largest pick-and-carry crane manufacturer and a leading Indian construction equipment maker, has entered into a strategic Memorandum of Understanding with Sanghvi Movers, Asia’s largest and the world’s fifth-largest crane rental company. The partnership aims to accelerate the deployment of indigenously manufactured heavy slew cranes, particularly truck cranes and crawler cranes, across large-scale infrastructure and industrial projects in India.The alliance aligns strongly with the Government of India’s “Aatmanirbhar Bharat” and “M..