+
Stem’s Q4 Revenue Falls 67% on Lower Battery Sales
ECONOMY & POLICY

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

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)                      
        

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)                              

Next Story
Infrastructure Urban

Hindmetal Pioneers EM Tech in Mineral Exploration

Hindmetal Exploration Services (HESPL), a wholly owned subsidiary of Hindustan Zinc, has become the first company in India to deploy advanced Electromagnetic (EM) technologies for mineral exploration. The initiative marks a major leap in the nation’s ability to identify hidden mineral resources with unprecedented precision.The breakthrough involves two cutting-edge tools: borehole EM, which detects and maps conductive ore bodies such as sulfide deposits in high detail, and SQUID surface sensors, which capture even the weakest electromagnetic signals—ideal for spotting low-conductivity or d..

Next Story
Infrastructure Urban

Autodesk Launches Local Data Storage for India

Autodesk has announced the launch of localized data storage in India, enabling businesses and public sector organizations to store and manage project data within the country. This expansion, part of Autodesk’s global regional offerings, supports regulated sectors such as government, infrastructure, and utilities by meeting compliance requirements while ensuring enterprise-grade security, privacy, and data recoverability.The move comes as Autodesk’s 2025 State of Design & Make report reveals that while digital transformation drives significant ROI in the architecture, engineering, const..

Next Story
Infrastructure Urban

Rosatom Opens Pilot Uranium Facility at Tanzania’s Mkuju River Project

Mantra Tanzania, a subsidiary of Uranium One Group (part of Rosatom), has commissioned a pilot uranium processing facility at the Mkuju River project in southern Tanzania. The inauguration, attended by Her Excellency Samia Suluhu Hassan, President of the United Republic of Tanzania, alongside senior government officials, community leaders, and Rosatom representatives, marks a major step forward in Russia–Tanzania nuclear energy cooperation.Alexey Likhachev, Director General of Rosatom, said: “Rosatom offers its cutting-edge uranium processing technologies to unlock Tanzania’s geological ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?