Stem Inc (STEM) News & EventsSTEMStem Inc

Stem Successfully Deploys PowerTrack Platform at Border Basin Solar Project

Stem announced the successful deployment of its PowerTrack Platform at Border Basin Solar, a 152 MWdc utility-scale solar project, owned and developed by Energix US. Border Basin is now operational and delivering clean energy into the PJM Interconnection market. Stem supported the project from conceptual design to factory preparation through commissioning and operator handoff. By combining upfront engineering, panel shop assembly and pre-configuration, Factory Acceptance Testing, on-site commissioning, utility witness testing, and remote support, Stem helped bring the facility online with full visibility from day one.

Stem Initiates Strategic Alternatives Review to Maximize Shareholder Value

Stem announced that its Board of Directors has initiated a formal review of strategic alternatives to maximize shareholder value. The Company has engaged Guggenheim Securities as financial advisor and Gibson Dunn & Crutcher LLP, and Davis Polk & Wardwell, as legal advisors to assist with the review. The Board, with the assistance of management and its advisors, will consider a full range of strategic, financial, and operational alternatives, including, but not limited to, continuing to execute on the Company's standalone strategic plan, sale of certain assets, sale of the Company, merger, refinancing, recapitalization or other transactions aimed at maximizing value. "Our priorities are unchanged," said Arun Narayanan, CEO. "Our team remains focused on serving our customers, supporting the more than 38 gigawatts of solar and 1.8 gigawatt hours of storage that rely on PowerTrack, and executing our plan. Customers, partners and employees can expect the same level of service, support and innovation from Stem throughout this process."

Stem Reports Q2 Revenue of $33.65M, Below Consensus

Reports Q2 revenue $33.65M, consensus $35.5M. Reports bookings of $36.8M, up 39% from $26.5M in 1Q26. "The second quarter reflected strong momentum across our core PowerTrack platform and continued expansion of our international footprint," stated Arun Narayanan, Chief Executive Officer of Stem. "We brought PowerTrack EMS to Latin America this quarter with the Granja Solar project in Chile, where our software will serve as the control system for a 135 MW solar facility being retrofitted with a 420 megawatt-hour battery storage system - a strong proof point for the kind of hybrid, utility-scale project that validates the commercial prospects of our EMS offering. Our products were also recognized internationally, with PowerTrack EMS receiving 'The smarter E AWARD 2026' in Europe for the Smart Integrated Energy category, an honor given to industry pioneers driving major innovations across energy storage and smart integrated energy, and a prestigious recognition for the clean energy industry. Alongside this sustained commercial progress, we are continuing to execute with discipline, delivering our fifth consecutive quarter of positive adjusted EBITDA and record non-GAAP gross margins. We remain focused on driving operating leverage, strengthening our core platform, and building the foundation for accelerated growth in 2027 and beyond."