Stem’s Net Loss Jumps 124%, Despite High Revenues as Operating Expenses Surge
The company’s contracted backlog increased by 125% YoY to $1.84 billion in Q3 2023
November 3, 2023
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Stem, a smart energy storage company, reported a net loss of $77.1 million in the third quarter (Q3) of 2023, a 124% year-over-year (YoY) surge from the net loss of $34.3 million, mainly driven by the added costs for hardware.
