Stem, Inc(NYSE:STEM) 
Stem delivers and operates smart battery storage solutions that maximize renewable energy generation and help build a cleaner, more resilient grid. Our customers include Fortune 500 corporate energy users, project developers and installers, and utilities and independent power producers.
Share this website to your friends
• Market Cap:
• Exchange:
• Shs Outstanding:
• Employees:
• Beta:
• Return on Equity (ROE) ttm:
• Return on Assets (ROA) ttm:
• EPS ttm:
• Book value per Share:
• Cash per Share:
• Current ast per Share:
• P/E ttm:
• P/E forward:
• P/E ttm high:
• P/E ttm low:
• P/S ttm:
• P/B ttm:
• P/FCF ttm:
• PEG ratio:
• Cash Ratio ttm:
• Quick Ratio ttm:
• Current Ratio ttm:
• Gross Mgn ttm:
• EBITDA Mgn ttm:
• Operating Mgn ttm:
• Net Income Mgn ttm:
• Trailing Div yield:
• Forward Div yield:
• Payout Ratio ttm:
• Ex-Dividend date:
• Target Price High:
• Target Price Low:
• Target Price Mean:
• Number of Analysts:
• Debt Ratio ttm:
• Debt to Equity ttm:
• Total Net Debt:
At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue | ||||||||||||||||||||
yoy | ||||||||||||||||||||
qoq | ||||||||||||||||||||
services and other revenue | 30,714,000 | 18,409,000 | 17,721,000 | 15,724,000 | 22,143,000 | 15,103,000 | 14,840,000 | 14,918,000 | 16,597,000 | 16,360,000 | 14,673,000 | 15,965,000 | 13,692,000 | |||||||
hardware revenue | 16,429,000 | 19,828,000 | 14,791,000 | 40,101,000 | 7,148,000 | 18,896,000 | 10,629,000 | 152,506,000 | 117,143,000 | 76,586,000 | 52,732,000 | 139,479,000 | 85,809,000 | 54,426,000 | 31,123,000 | 47,299,000 | 34,886,000 | 14,184,000 | ||
total revenue | 47,143,000 | 38,237,000 | 38,374,000 | 32,512,000 | 55,825,000 | 29,291,000 | 33,999,000 | 25,469,000 | 167,424,000 | 133,740,000 | 92,946,000 | 67,405,000 | 155,444,000 | 99,501,000 | 66,947,000 | 41,088,000 | 52,780,000 | 39,833,000 | 19,337,000 | |
cost of revenue | ||||||||||||||||||||
cost of services and other | 15,012,000 | 11,975,000 | 14,262,000 | |||||||||||||||||
cost of hardware | 9,093,000 | 12,682,000 | 11,312,000 | |||||||||||||||||
total cost of revenue | 24,105,000 | 24,657,000 | 25,574,000 | 21,974,000 | 58,263,000 | 23,095,000 | 24,624,000 | 49,660,000 | 156,333,000 | 154,031,000 | 81,075,000 | 66,411,000 | 142,911,000 | 90,374,000 | 59,159,000 | 37,444,000 | 54,427,000 | 36,696,000 | 19,464,000 | |
gross profit | 23,038,000 | 13,580,000 | 12,800,000 | 10,538,000 | -2,438,000 | 6,196,000 | 9,375,000 | -24,191,000 | 11,091,000 | -20,291,000 | 11,871,000 | |||||||||
yoy | -1044.95% | 119.17% | 36.53% | -143.56% | -121.98% | -130.54% | -21.03% | |||||||||||||
qoq | 69.65% | 6.09% | 21.47% | -532.24% | -139.35% | -33.91% | -138.75% | -318.11% | -154.66% | -270.93% | ||||||||||
gross margin % | Infinity% | Infinity% | Infinity% | Infinity% | -Infinity% | Infinity% | Infinity% | -Infinity% | Infinity% | -Infinity% | Infinity% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% | NaN% |
operating expenses: | ||||||||||||||||||||
sales and marketing | 7,696,000 | 6,979,000 | 7,250,000 | 6,792,000 | 7,473,000 | 8,216,000 | 10,944,000 | 11,126,000 | 13,865,000 | 11,605,000 | 13,680,000 | 12,406,000 | 13,598,000 | 13,187,000 | 12,955,000 | 9,142,000 | 8,395,000 | 4,975,000 | 3,913,000 | |
research and development | 7,058,000 | 6,916,000 | 9,993,000 | 11,328,000 | 10,779,000 | 11,086,000 | 15,281,000 | 14,136,000 | 14,488,000 | 14,420,000 | 14,156,000 | 13,444,000 | 9,871,000 | 10,526,000 | 8,963,000 | 8,943,000 | 7,221,000 | 6,268,000 | 4,827,000 | |
general and administrative | 16,630,000 | 12,536,000 | 8,900,000 | 13,566,000 | 26,453,000 | 27,212,000 | 15,846,000 | 18,560,000 | 16,259,000 | 21,955,000 | 18,904,000 | 17,797,000 | 22,810,000 | 18,013,000 | 15,693,000 | 20,512,000 | 12,918,000 | 11,024,000 | 15,014,000 | |
impairment of parent company guarantees | 104,134,000 | |||||||||||||||||||
impairment of goodwill | 547,152,000 | |||||||||||||||||||
total operating expenses | 31,384,000 | 26,431,000 | 26,143,000 | 31,686,000 | 44,705,000 | 150,648,000 | 589,223,000 | 43,822,000 | 44,612,000 | 47,980,000 | 46,740,000 | 43,647,000 | 46,279,000 | 41,726,000 | 37,611,000 | 38,597,000 | 28,534,000 | 22,267,000 | 23,754,000 | 600,686 |
income from operations | -8,346,000 | -12,851,000 | -13,343,000 | -21,148,000 | -47,143,000 | -144,452,000 | -579,848,000 | -68,013,000 | -33,521,000 | -68,271,000 | -34,869,000 | -42,653,000 | -33,746,000 | -32,599,000 | -29,823,000 | -34,953,000 | -30,181,000 | -19,130,000 | -23,881,000 | |
yoy | -82.30% | -91.10% | -97.70% | -68.91% | 40.64% | 111.59% | 1562.93% | 59.46% | -0.67% | 109.43% | 16.92% | 22.03% | 11.81% | 70.41% | 24.88% | |||||
qoq | -35.06% | -3.69% | -36.91% | -55.14% | -67.36% | -75.09% | 752.55% | 102.90% | -50.90% | 95.79% | -18.25% | 26.39% | 3.52% | 9.31% | -14.68% | 15.81% | 57.77% | -19.89% | ||
operating margin % | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | NaN% |
other income, net: | ||||||||||||||||||||
interest expense | -8,301,000 | -7,270,000 | -4,072,000 | -4,290,000 | -4,443,000 | -4,512,000 | -4,631,000 | -4,707,000 | -4,892,000 | -4,405,000 | -3,903,000 | -1,777,000 | -2,039,000 | -2,520,000 | -2,691,000 | -3,218,000 | -4,560,000 | -2,674,000 | -3,929,000 | |
gain on extinguishment of debt | 220,047,000 | 59,121,000 | ||||||||||||||||||
change in fair value of derivative liability | 1,477,000 | -5,155,000 | ||||||||||||||||||
change in fair value of warrant liability | 968,000 | -4,190,000 | ||||||||||||||||||
other income | -156,000 | 379,000 | 374,000 | 496,000 | 437,000 | 793,000 | 794,000 | 566,000 | 807,000 | 713,000 | -736,000 | -439,000 | 552,000 | 863,000 | ||||||
total other income | -7,489,000 | -11,081,000 | 216,349,000 | -4,006,000 | -3,719,000 | -2,360,000 | -4,085,000 | -8,847,000 | 54,482,000 | -1,651,750 | -1,657,000 | -3,873,000 | 134,742,000 | -76,335,000 | ||||||
income before provision for income taxes | -15,835,000 | -23,932,000 | 203,006,000 | -24,942,000 | -582,208,000 | |||||||||||||||
benefit from income taxes | -98,000 | 141,000 | 12,000 | -129,000 | -153,000 | -79,000 | 46,000 | -491,000 | 91,000 | -40,000 | -19,000 | |||||||||
net income | -15,979,000 | -23,791,000 | 202,531,000 | -25,000,000 | -51,137,000 | -148,300,000 | -582,270,000 | -72,307,000 | -37,685,000 | -77,072,000 | 19,122,000 | -44,778,000 | -35,273,000 | -34,275,000 | -32,023,000 | -22,483,000 | -34,054,000 | 115,612,000 | -100,216,000 | -156,346,958 |
yoy | -68.75% | -83.96% | -134.78% | -65.43% | 35.70% | 92.42% | -3145.03% | 61.48% | 6.84% | 124.86% | -159.71% | 99.16% | 3.58% | -129.65% | -68.05% | -85.62% | ||||
qoq | -32.84% | -111.75% | -910.12% | -51.11% | -65.52% | -74.53% | 705.27% | 91.87% | -51.10% | -503.05% | -142.70% | 26.95% | 2.91% | 7.03% | 42.43% | -33.98% | -129.46% | -215.36% | -35.90% | |
net income margin % | -Infinity% | -Infinity% | Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | Infinity% | -Infinity% | -Infinity% |
net income per share | -2 | -2.84 | 24.31 | -0.15 | -0.3 | -0.91 | -3.59 | -0.46 | -0.24 | -0.49 | 0.12 | -0.29 | -0.23 | -0.22 | -0.21 | -0.15 | -0.23 | 0.85 | -1 | |
numerator used to compute net income per share: | ||||||||||||||||||||
net income attributable to stem common stockholders, basic | 38,435 | -23,791 | 202,531 | -582,270 | 19,122 | |||||||||||||||
net loss attributable to stem common stockholders, diluted | -15,979 | -23,791 | -15,160 | -582,270 | -40,011 | |||||||||||||||
weighted-average shares used for eps calculation | 8,338,759 | 8,376,032 | 8,330,679 | 163,889,801 | 161,442,542 | 162,633,996 | 162,158,936 | 158,180,137 | 155,583,957 | 155,829,348 | 155,619,179 | 154,966,163 | 153,413,743 | 154,392,573 | 154,125,061 | 150,491,041 | 105,561,139 | 135,231,146 | 100,611,965 | |
solar software | 9,521,000 | |||||||||||||||||||
edge hardware | 12,086,000 | |||||||||||||||||||
project and professional services | 2,330,000 | |||||||||||||||||||
storage software & managed services | 9,003,000 | |||||||||||||||||||
battery hardware resale | 5,434,000 | |||||||||||||||||||
provision for income taxes | -475,000 | -58,000 | -62,000 | |||||||||||||||||
cost of services and other revenue | 11,413,000 | 15,768,000 | 15,687,000 | 10,955,000 | 9,984,000 | 13,354,000 | 13,684,000 | 11,756,000 | 11,504,000 | 12,934,000 | 11,445,000 | |||||||||
cost of hardware revenue | 10,561,000 | 42,495,000 | 7,408,000 | 13,669,000 | 39,676,000 | 142,979,000 | 140,347,000 | 69,319,000 | 54,907,000 | 129,977,000 | 78,929,000 | 49,018,000 | 28,811,000 | 45,604,000 | 30,057,000 | 13,655,000 | ||||
other expense, net: | ||||||||||||||||||||
total other expense | -3,794,000 | -4,141,000 | -2,216,000 | -2,207,000 | -2,743,000 | |||||||||||||||
loss before benefit from income taxes | -51,149,000 | -148,171,000 | -72,154,000 | -37,606,000 | -77,118,000 | -44,869,000 | ||||||||||||||
net income attributed to non-controlling interests | 4,000 | |||||||||||||||||||
net loss attributable to stem | -25,682,000 | -77,072,000 | -32,019,000 | |||||||||||||||||
income before benefit from income taxes | 19,613,000 | -25,995,500 | -34,256,000 | |||||||||||||||||
net loss attributed to non-controlling interests | -4,000 | |||||||||||||||||||
net income attributable to stem | 19,122,000 | -22,195,250 | -34,279,000 | |||||||||||||||||
gross margin | 994,000 | 12,533,000 | 9,127,000 | 7,788,000 | 3,644,000 | -1,647,000 | 3,137,000 | -127,000 | ||||||||||||
loss on extinguishment of debt | -5,064,000 | |||||||||||||||||||
change in fair value of warrants and embedded derivatives | ||||||||||||||||||||
services revenue | 12,521,000 | 9,965,000 | 3,745,500 | 4,947,000 | 5,153,000 | |||||||||||||||
cost of service revenue | 10,141,000 | 8,633,000 | 8,823,000 | 6,639,000 | 5,809,000 | |||||||||||||||
change in fair value of warrants and embedded derivative | 137,001,000 | -67,179,000 | ||||||||||||||||||
other income (expenses) | 484,000 | 475,000 | 52,750 | 415,000 | -163,000 | |||||||||||||||
income before income taxes | -32,030,000 | -37,696,000 | -34,054,000 | 115,612,000 | -100,216,000 | |||||||||||||||
income tax benefit | 7,000 | 15,213,000 | ||||||||||||||||||
income tax expense | ||||||||||||||||||||
operating expenses | ||||||||||||||||||||
general and administrative expenses | 521,271 | |||||||||||||||||||
general and administrative expenses - related party | 30,000 | |||||||||||||||||||
franchise tax expense | 49,415 | |||||||||||||||||||
other income: | ||||||||||||||||||||
change in fair value of warrant liabilities | -155,781,741 | |||||||||||||||||||
net gain from investments held in trust account | 35,469 | |||||||||||||||||||
total other | -155,746,272 | |||||||||||||||||||
weighted-average class a common stock outstanding, basic and diluted | 38,358,504 | |||||||||||||||||||
basic and diluted net income per class a common stock | ||||||||||||||||||||
weighted-average class b common stock outstanding, basic and diluted | 9,589,626 | |||||||||||||||||||
basic and diluted net loss per class b common stock | -16.3 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||||
current assets: | |||||||||||||||||||||
cash and cash equivalents | 48,915,000 | 43,121,000 | 40,790,000 | 56,299,000 | 75,364,000 | 89,649,000 | 112,804,000 | 105,375,000 | 97,064,000 | 75,405,000 | 117,883,000 | 87,903,000 | 100,098,000 | 151,003,000 | 174,537,000 | 747,780,000 | 405,189,000 | 474,138,000 | |||
accounts receivable | 38,353,000 | 35,836,000 | 42,843,000 | 59,316,000 | 92,659,000 | 206,351,000 | 239,934,000 | 302,848,000 | 288,674,000 | 293,853,000 | 232,764,000 | 223,219,000 | 144,259,000 | 95,855,000 | 74,123,000 | 61,701,000 | 34,997,000 | 17,833,000 | |||
inventory | 4,587,000 | 5,165,000 | 4,599,000 | 10,920,000 | 33,950,000 | 33,213,000 | 24,444,000 | 26,665,000 | 65,656,000 | 145,523,000 | 43,231,000 | 8,374,000 | 29,217,000 | 63,055,000 | 72,985,000 | 22,720,000 | 24,200,000 | 27,167,000 | |||
other current assets | 8,236,000 | 9,634,000 | 10,993,000 | 9,458,000 | 10,320,000 | 10,582,000 | 8,221,000 | 9,303,000 | 10,520,000 | 13,139,000 | 6,975,000 | 8,026,000 | 8,668,000 | 47,927,000 | 28,252,000 | 18,641,000 | 16,496,000 | 19,199,000 | |||
total current assets | 100,091,000 | 93,756,000 | 99,225,000 | 136,617,000 | 227,530,000 | 359,920,000 | 405,528,000 | 472,965,000 | 510,513,000 | 612,808,000 | 511,125,000 | 532,755,000 | 537,225,000 | 541,730,000 | 527,170,000 | 1,023,850,000 | 651,677,000 | 538,337,000 | 1,012,323 | 1,564,337 | 2,575,989 |
energy storage systems | 43,925,000 | 47,894,000 | 50,962,000 | 58,820,000 | 63,663,000 | 67,518,000 | 71,234,000 | 74,418,000 | 80,709,000 | 84,627,000 | 87,750,000 | 90,757,000 | 94,828,000 | 98,427,000 | 102,320,000 | 106,114,000 | 114,149,000 | 118,216,000 | |||
contract origination costs | 7,466,000 | 8,663,000 | 8,805,000 | 9,681,000 | 9,746,000 | 9,921,000 | 10,515,000 | 11,119,000 | 11,930,000 | 12,412,000 | 11,662,000 | 11,697,000 | 9,757,000 | 9,321,000 | 9,620,000 | 8,630,000 | 11,665,000 | 11,668,000 | |||
intangible assets | 123,028,000 | 129,169,000 | 135,158,000 | 143,912,000 | 148,183,000 | 152,144,000 | 155,008,000 | 157,146,000 | 158,321,000 | 159,472,000 | 161,596,000 | 162,265,000 | 163,553,000 | 164,796,000 | 165,840,000 | 13,966,000 | 13,125,000 | 12,387,000 | |||
operating lease right-of-use assets | 9,571,000 | 10,147,000 | 11,258,000 | 12,574,000 | 12,065,000 | 11,138,000 | 11,475,000 | 12,255,000 | 13,023,000 | 13,810,000 | 14,553,000 | 12,431,000 | 12,609,000 | 13,200,000 | |||||||
other noncurrent assets | 24,806,000 | 72,978,000 | 73,808,000 | 75,755,000 | 76,648,000 | 90,902,000 | 83,966,000 | 81,869,000 | 77,132,000 | 73,157,000 | 60,316,000 | 65,339,000 | 52,618,000 | 52,496,000 | 51,380,000 | 24,531,000 | 18,716,000 | 15,945,000 | |||
total assets | 308,887,000 | 362,607,000 | 379,216,000 | 437,359,000 | 537,835,000 | 691,543,000 | 1,284,895,000 | 1,356,977,000 | 1,398,792,000 | 1,503,490,000 | 1,394,170,000 | 1,421,893,000 | 1,417,224,000 | 1,426,702,000 | 1,417,815,000 | 1,191,830,000 | 824,967,000 | 698,339,000 | 384,598,056 | 385,286,084 | 386,179,543 |
liabilities and stockholders’ equity | |||||||||||||||||||||
current liabilities: | |||||||||||||||||||||
accounts payable | 10,310,000 | 10,986,000 | 11,430,000 | 30,147,000 | 47,363,000 | 63,103,000 | 61,746,000 | 78,277,000 | 85,444,000 | 102,980,000 | 112,541,000 | 83,831,000 | 94,923,000 | 113,180,000 | 99,307,000 | 28,273,000 | 14,962,000 | 17,798,000 | 21,152 | 93,965 | 445,093 |
accrued liabilities | 26,875,000 | 29,913,000 | 30,422,000 | 25,770,000 | 57,648,000 | 63,362,000 | 78,487,000 | 76,873,000 | 60,615,000 | 55,530,000 | 59,104,000 | 85,258,000 | 61,601,000 | 33,057,000 | 22,785,000 | 25,993,000 | 14,024,000 | 9,177,000 | |||
accrued payroll | 9,131,000 | 8,389,000 | 6,257,000 | 6,678,000 | 10,265,000 | 10,719,000 | 11,188,000 | 14,372,000 | 10,439,000 | 7,965,000 | 7,025,000 | 12,466,000 | 13,268,000 | 10,132,000 | 8,422,000 | 7,453,000 | 5,524,000 | 4,565,000 | |||
financing obligation, current portion | 13,792,000 | 14,181,000 | 14,983,000 | 16,521,000 | 15,037,000 | 15,139,000 | 15,390,000 | 14,835,000 | 17,381,000 | 18,158,000 | 16,271,000 | 15,720,000 | 17,024,000 | 14,784,000 | 14,177,000 | 15,277,000 | |||||
deferred revenue, current portion | 43,625,000 | 43,104,000 | 42,089,000 | 43,255,000 | 70,766,000 | 57,974,000 | 56,952,000 | 53,997,000 | 82,676,000 | 115,381,000 | 75,421,000 | 64,311,000 | 49,436,000 | 49,692,000 | 40,722,000 | 9,158,000 | |||||
other current liabilities | 6,832,000 | 6,988,000 | 6,877,000 | 6,429,000 | 5,905,000 | 6,349,000 | 12,855,000 | 12,726,000 | 12,689,000 | 7,479,000 | 5,547,000 | 5,412,000 | 4,225,000 | 4,415,000 | 2,622,000 | 1,813,000 | 2,465,000 | 1,910,000 | |||
total current liabilities | 110,565,000 | 113,561,000 | 112,058,000 | 128,800,000 | 206,984,000 | 216,646,000 | 236,618,000 | 251,080,000 | 269,244,000 | 307,493,000 | 275,909,000 | 266,998,000 | 240,477,000 | 225,260,000 | 188,035,000 | 87,967,000 | 78,419,000 | 85,842,000 | 2,686,624 | 2,809,435 | 716,028 |
deferred revenue, noncurrent | 85,251,000 | 85,817,000 | 84,273,000 | 85,900,000 | 86,799,000 | 88,944,000 | 88,410,000 | 88,650,000 | 83,028,000 | 78,736,000 | 72,574,000 | 73,763,000 | 69,254,000 | 65,849,000 | 64,051,000 | 28,285,000 | 21,743,000 | 18,648,000 | |||
asset retirement obligation | 4,349,000 | 4,314,000 | 4,256,000 | 4,203,000 | 4,150,000 | 4,122,000 | 4,073,000 | 4,052,000 | 4,085,000 | 4,079,000 | 4,223,000 | 4,262,000 | 4,261,000 | 4,217,000 | 4,168,000 | 4,135,000 | 4,149,000 | 4,178,000 | |||
convertible notes, noncurrent | 183,594,000 | 183,389,000 | 183,186,000 | 525,922,000 | 525,345,000 | 524,771,000 | 524,200,000 | 523,633,000 | 523,068,000 | 522,506,000 | 448,397,000 | 447,909,000 | 447,411,000 | 446,914,000 | 446,418,000 | 316,542,000 | |||||
senior secured notes, noncurrent | 128,796,000 | 127,609,000 | 126,709,000 | ||||||||||||||||||
financing obligation, noncurrent | 29,590,000 | 31,091,000 | 33,369,000 | 41,627,000 | 44,662,000 | 47,366,000 | 49,222,000 | 52,010,000 | 54,314,000 | 58,895,000 | 61,065,000 | 63,867,000 | 65,314,000 | 67,102,000 | 70,395,000 | 73,204,000 | 75,384,000 | 74,496,000 | |||
warrant liabilities | 5,121,000 | 1,899,000 | 303,798,000 | 276,873,719 | |||||||||||||||||
lease liabilities, noncurrent | 9,860,000 | 10,653,000 | 11,644,000 | 13,336,000 | 12,807,000 | 11,832,000 | 9,885,000 | 10,455,000 | 11,145,000 | 11,874,000 | 12,634,000 | 10,962,000 | 11,308,000 | 11,921,000 | |||||||
other liabilities | 820,000 | 35,193,000 | 35,301,000 | 35,404,000 | 643,000 | 599,000 | 436,000 | 416,000 | 565,000 | 563,000 | 444,000 | 362,000 | 391,000 | 339,000 | 367,000 | ||||||
total liabilities | 557,946,000 | 597,716,000 | 592,695,000 | 835,192,000 | 881,390,000 | 894,280,000 | 912,844,000 | 930,296,000 | 945,449,000 | 984,146,000 | 876,925,000 | 869,726,000 | 839,999,000 | 823,275,000 | 787,679,000 | 524,003,000 | 194,048,000 | 489,561,000 | 293,189,729 | 16,438,821 | 14,345,414 |
commitments and contingencies | |||||||||||||||||||||
stockholders’ deficit: | |||||||||||||||||||||
preferred stock, 0.0001 par value... | |||||||||||||||||||||
common stock, 0.0001 par value... | 1,000 | 1,000 | 1,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | 16,000 | 15,000 | 15,000 | 15,000 | 15,000 | 14,000 | 14,000 | 13,000 | |||
additional paid-in capital | 1,239,263,000 | 1,236,905,000 | 1,234,571,000 | 1,228,042,000 | 1,230,957,000 | 1,223,739,000 | 1,216,197,000 | 1,198,716,000 | 1,187,628,000 | 1,176,678,000 | 1,193,621,000 | 1,185,364,000 | 1,175,733,000 | 1,166,865,000 | 1,161,109,000 | 1,176,845,000 | 1,106,220,000 | 799,918,000 | 273,994,882 | 8,380,865 | 5,394,034 |
accumulated other comprehensive income | 41,000 | 175,000 | 348,000 | 76,000 | 302,000 | 94,000 | 154,000 | 23,000 | -1,672,000 | -2,122,000 | -1,136,000 | -619,000 | 20,000 | ||||||||
accumulated deficit | -1,488,747,000 | -1,472,768,000 | -1,448,977,000 | -1,626,508,000 | -1,575,371,000 | -1,427,071,000 | -844,801,000 | -772,494,000 | -734,809,000 | -657,737,000 | -676,859,000 | -632,081,000 | -596,808,000 | -562,529,000 | -530,510,000 | -509,052,000 | -474,998,000 | -590,610,000 | -268,998,806 | -3,382,018 | -395,152 |
total stem's stockholders’ deficit | -249,442,000 | ||||||||||||||||||||
non-controlling interests | 383,000 | 578,000 | 578,000 | 541,000 | 541,000 | 485,000 | 485,000 | 485,000 | 485,000 | 475,000 | 469,000 | 541,000 | 407,000 | 212,000 | 141,000 | ||||||
total stockholders’ deficit | -249,059,000 | -235,109,000 | -213,479,000 | ||||||||||||||||||
total liabilities and stockholders’ deficit | 308,887,000 | 362,607,000 | 379,216,000 | ||||||||||||||||||
liabilities and stockholders’ deficit | |||||||||||||||||||||
warrant liability | 6,089,000 | ||||||||||||||||||||
total stem stockholders’ deficit | -235,687,000 | ||||||||||||||||||||
total stem’s stockholders’ deficit | -214,057,000 | ||||||||||||||||||||
short-term investments | 8,219,000 | 28,301,000 | 62,769,000 | 87,678,000 | 162,074,000 | 193,403,000 | 183,890,000 | 177,273,000 | 173,008,000 | 170,795,000 | |||||||||||
deferred costs with suppliers | 624,000 | 15,237,000 | 20,125,000 | 20,125,000 | 20,555,000 | 20,298,000 | 22,119,000 | 22,594,000 | 43,159,000 | 61,580,000 | |||||||||||
goodwill | 547,169,000 | 547,205,000 | 547,164,000 | 547,204,000 | 547,168,000 | 546,649,000 | 546,634,000 | 546,732,000 | 547,700,000 | 1,741,000 | 1,741,000 | 1,786,000 | |||||||||
stockholders’ equity | |||||||||||||||||||||
total stem's stockholders’ equity | -398,374,000 | 426,196,000 | 551,626,000 | ||||||||||||||||||
total stockholders’ equity | -397,833,000 | -343,555,000 | -202,737,000 | 372,051,000 | 426,681,000 | 453,343,000 | 519,344,000 | 517,245,000 | 552,167,000 | 577,225,000 | 603,427,000 | 630,136,000 | 667,827,000 | 630,919,000 | 208,778,000 | 5,000,003 | |||||
total liabilities and stockholders’ equity | 437,359,000 | 537,835,000 | 691,543,000 | 1,284,895,000 | 1,356,977,000 | 1,398,792,000 | 1,503,490,000 | 1,394,170,000 | 1,421,893,000 | 1,417,224,000 | 1,426,702,000 | 1,417,815,000 | 1,191,830,000 | 824,967,000 | 698,339,000 | 385,286,084 | |||||
total stem’s stockholders’ equity | -344,096,000 | -203,222,000 | 371,566,000 | 452,858,000 | 518,869,000 | 516,776,000 | 576,818,000 | ||||||||||||||
stockholders’ equity: | |||||||||||||||||||||
notes payable, noncurrent | 1,679,000 | 1,603,000 | 1,583,000 | 1,673,000 | 1,719,000 | 1,687,000 | 1,675,000 | 1,719,000 | |||||||||||||
accumulated other comprehensive loss | -42,000 | -88,000 | -2,000 | -317,000 | -543,000 | ||||||||||||||||
total stem's stockholders' equity | 603,215,000 | 629,995,000 | |||||||||||||||||||
operating leases right-of-use assets | 13,785,000 | 12,998,000 | 13,894,000 | ||||||||||||||||||
lease liability, noncurrent | 12,526,000 | 12,183,000 | 12,678,000 | 880,000 | |||||||||||||||||
notes payable, current portion | |||||||||||||||||||||
convertible promissory notes | |||||||||||||||||||||
financing obligation, current | 14,315,000 | 15,336,000 | |||||||||||||||||||
deferred revenue, current | 27,129,000 | 37,056,000 | |||||||||||||||||||
assets: | |||||||||||||||||||||
cash | 426,064 | 936,773 | 1,840,514 | ||||||||||||||||||
prepaid expenses | 586,259 | 627,564 | 735,475 | ||||||||||||||||||
investments held in trust account | 383,585,733 | 383,721,747 | 383,603,554 | ||||||||||||||||||
liabilities and stockholders' equity: | |||||||||||||||||||||
accounts payable - related party | |||||||||||||||||||||
accrued expenses | 2,616,157 | 2,467,064 | 121,296 | ||||||||||||||||||
franchise tax payable | 49,315 | 198,406 | 149,639 | ||||||||||||||||||
deferred legal fees | 203,910 | 203,910 | 203,910 | ||||||||||||||||||
deferred underwriting commissions in connection with the initial public offering | 13,425,476 | 13,425,476 | 13,425,476 | ||||||||||||||||||
class a common stock, 0.0001 par value... | 86,408,320 | 363,847,260 | 366,834,120 | ||||||||||||||||||
stockholders' equity: | |||||||||||||||||||||
preferred stock, 0.0001 par value; 1,000,000 shares authorized; none issued and outstanding | |||||||||||||||||||||
class b common stock, 0.0001 par value... | 959 | 959 | 959 | ||||||||||||||||||
total stockholders' equity | 5,000,007 | 5,000,009 | |||||||||||||||||||
total liabilities and stockholders' equity | 384,598,056 | 386,179,543 | |||||||||||||||||||
deferred offering costs associated with initial public offering | |||||||||||||||||||||
liabilities and stockholders’ equity: | |||||||||||||||||||||
accounts payable – related party | 50,000 | ||||||||||||||||||||
note payable | |||||||||||||||||||||
commitments |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
operating activities | ||||||||||||||||||
net income | -15,979,000 | -23,791,000 | ||||||||||||||||
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||||||
depreciation and amortization expense | 11,847,000 | 10,858,000 | 11,246,000 | 10,996,000 | 11,761,000 | 11,010,000 | 11,408,000 | 10,809,000 | 12,682,000 | 11,217,000 | 11,269,000 | 11,107,000 | 13,374,000 | 11,173,000 | 12,162,000 | 8,725,000 | 8,853,000 | 5,305,000 |
non-cash interest expense, including interest expenses associated with debt issuance costs | 789,000 | 541,000 | -79,000 | 289,000 | 522,000 | 581,000 | 562,000 | 422,000 | 633,000 | 383,000 | 1,200,000 | 386,000 | 422,000 | 577,000 | 446,000 | 456,000 | 1,550,000 | 979,000 |
stock-based compensation | 2,287,000 | 2,217,000 | 1,395,000 | 4,317,000 | -3,245,000 | 6,532,000 | 6,810,000 | 8,374,000 | 16,789,000 | 11,198,000 | 9,920,000 | 7,202,000 | 8,251,000 | 7,678,000 | 6,467,000 | 6,265,000 | 5,563,000 | 6,199,000 |
change in fair value of derivative liability | 0 | 0 | 0 | 5,155,000 | ||||||||||||||
change in fair value of warrant liability | -968,000 | |||||||||||||||||
non-cash lease expense | 594,000 | 696,000 | 683,000 | 679,000 | 772,000 | 718,000 | 756,000 | 777,000 | 766,000 | 756,000 | 745,000 | 661,000 | ||||||
accretion of asset retirement obligations | 59,000 | 59,000 | 59,000 | 60,000 | 59,000 | 59,000 | 59,000 | 59,000 | 56,000 | 58,000 | 59,000 | 61,000 | ||||||
impairment of inventory | ||||||||||||||||||
impairment of deferred costs with suppliers | ||||||||||||||||||
impairment of energy storage systems | 374,000 | 748,000 | 171,000 | 2,120,000 | 925,000 | |||||||||||||
loss on disposal of property and equipment | ||||||||||||||||||
impairment of project assets | ||||||||||||||||||
impairment of right-of-use assets | ||||||||||||||||||
impairment of parent company guarantees | 0 | |||||||||||||||||
impairment of goodwill | 0 | 0 | ||||||||||||||||
impairment of deferred services | ||||||||||||||||||
impairment of other assets | ||||||||||||||||||
write-off of accrued expenses and other liabilities | ||||||||||||||||||
net accretion of discount on investments | 0 | 0 | ||||||||||||||||
income tax benefit from release of valuation allowance | 0 | 0 | 0 | -335,000 | 0 | 0 | 0 | -15,100,000 | ||||||||||
provision for credit losses on accounts receivable | ||||||||||||||||||
net loss on investments | 0 | 0 | 0 | 1,561,000 | ||||||||||||||
gain on extinguishment of debt | 0 | 0 | 0 | 0 | ||||||||||||||
other | 285,000 | -62,000 | -10,000 | 63,000 | -94,000 | -19,000 | -40,000 | -98,000 | -118,000 | -151,000 | -563,000 | -117,000 | -141,000 | 56,000 | 105,000 | -17,000 | ||
changes in operating assets and liabilities: | ||||||||||||||||||
accounts receivable | -3,635,000 | 6,592,000 | -9,579,000 | 24,351,000 | 26,137,000 | 9,105,000 | 33,872,000 | 63,943,000 | -13,858,000 | 5,158,000 | -62,120,000 | -10,067,000 | -80,427,000 | -49,267,000 | -22,771,000 | -3,352,000 | -26,742,000 | -17,164,000 |
inventory | 578,000 | -566,000 | 4,237,000 | 2,084,000 | 10,051,000 | -737,000 | -8,769,000 | 2,221,000 | 38,991,000 | 79,867,000 | -102,292,000 | -34,857,000 | 20,843,000 | 34,397,000 | 9,930,000 | -46,564,000 | 1,480,000 | 2,966,000 |
deferred costs with suppliers | 1,205,000 | 4,888,000 | 0 | 430,000 | -257,000 | 1,820,000 | 580,000 | 28,179,000 | 10,702,000 | |||||||||
other assets | 6,805,000 | 873,000 | -310,000 | 2,025,000 | -592,000 | 6,410,000 | 1,895,000 | -1,176,000 | -89,000 | -131,000 | -18,067,000 | 251,000 | -4,178,000 | 26,892,000 | -19,850,000 | -32,284,000 | -6,723,000 | -1,136,000 |
contract origination costs | -537,000 | -380,000 | -249,000 | -324,000 | -1,202,000 | -244,000 | -327,000 | -356,000 | -1,740,000 | -1,928,000 | -1,454,000 | -802,000 | -4,770,000 | -1,217,000 | -1,955,000 | -1,670,000 | -769,000 | -203,000 |
project assets | 16,836,000 | 128,000 | -686,000 | -1,516,000 | -1,495,000 | 3,414,000 | -10,406,000 | -390,000 | -2,565,000 | 7,000 | -1,432,000 | -1,402,000 | ||||||
accounts payable | -679,000 | -444,000 | -8,189,000 | -10,538,000 | -17,471,000 | -15,752,000 | 1,357,000 | -16,280,000 | -7,012,000 | -17,278,000 | -9,782,000 | 28,831,000 | -9,947,000 | |||||
accrued expense and other liabilities | 23,881,000 | |||||||||||||||||
deferred revenue | -45,000 | 2,558,000 | 253,000 | -3,046,000 | -28,409,000 | 17,261,000 | 1,555,000 | 2,715,000 | -23,057,000 | -28,413,000 | 46,122,000 | 9,921,000 | 19,385,000 | 3,149,000 | 10,766,000 | 17,705,000 | -11,429,000 | -6,832,000 |
operating lease liabilities | ||||||||||||||||||
net cash from operating activities | 8,216,000 | 11,387,000 | -21,278,000 | 8,536,000 | -14,710,000 | -9,433,000 | -11,886,000 | -621,000 | -2,129,000 | -4,009,000 | -165,418,000 | -35,821,000 | -37,396,000 | -36,004,000 | -6,625,000 | -26,005,000 | -32,246,000 | -27,187,000 |
capital expenditures | -927,000 | -1,049,000 | -1,043,000 | -2,396,000 | -2,311,000 | -3,261,000 | -3,524,000 | -5,084,000 | -2,841,000 | -3,945,000 | -3,732,000 | -4,120,000 | -3,652,000 | -5,675,000 | -4,815,000 | -1,795,000 | -1,782,000 | |
free cash flows | 7,289,000 | 10,338,000 | -22,321,000 | -17,106,000 | -11,744,000 | -15,147,000 | -4,145,000 | -7,213,000 | -6,850,000 | -169,363,000 | -39,553,000 | -41,516,000 | -39,656,000 | -12,300,000 | -30,820,000 | -34,041,000 | -28,969,000 | |
investing activities | ||||||||||||||||||
acquisitions, net of cash acquired | 0 | 0 | 0 | -1,847,000 | ||||||||||||||
purchase of available-for-sale investments | -1,968,000 | 0 | -8,882,000 | -49,152,000 | -39,099,000 | -82,619,000 | -57,485,000 | -41,437,000 | -18,749,000 | |||||||||
proceeds from maturities of available-for-sale investments | 0 | 0 | 0 | 8,250,000 | 22,160,000 | 34,900,000 | 34,480,000 | 50,270,000 | 71,200,000 | |||||||||
proceeds from sales of available-for-sale investments | 0 | 0 | 0 | 73,917,000 | 0 | |||||||||||||
purchase of energy storage systems | -7,000 | -51,000 | 278,000 | -272,000 | -1,015,000 | -1,625,000 | -2,137,000 | -237,000 | -124,000 | -108,000 | 2,569,000 | -570,000 | ||||||
capital expenditures on internally-developed software | -927,000 | -1,049,000 | -1,043,000 | -3,583,000 | -2,407,000 | -2,260,000 | -3,145,000 | -3,463,000 | -3,974,000 | -2,735,000 | -3,818,000 | -3,570,000 | -4,115,000 | -4,567,000 | -4,548,000 | -3,537,000 | -1,720,000 | -1,557,000 |
distribution from equity method investment | ||||||||||||||||||
purchase of property and equipment | 11,000 | -51,000 | -116,000 | -61,000 | -1,110,000 | -106,000 | -127,000 | -162,000 | -5,000 | 915,000 | -1,127,000 | -1,278,000 | -75,000 | -225,000 | ||||
net cash from investing activities | -927,000 | -1,001,000 | -1,084,000 | -3,590,000 | -2,671,000 | -2,311,000 | -3,210,000 | 4,675,000 | 15,471,000 | 31,787,000 | 20,638,000 | 67,831,000 | 27,552,000 | -15,895,000 | -13,102,000 | -542,928,000 | -3,176,000 | -173,461,000 |
financing activities | ||||||||||||||||||
proceeds from exercise of stock options | ||||||||||||||||||
repayment of financing obligations | -1,286,000 | -2,518,000 | -5,536,000 | -2,819,000 | -1,496,000 | -2,813,000 | -2,099,000 | -2,086,000 | -4,920,000 | -5,179,000 | -454,000 | -2,133,000 | -2,669,000 | -820,000 | -2,639,000 | -4,178,000 | -3,866,000 | -1,112,000 |
proceeds from issuance of convertible notes, net of issuance costs of 0, 0 and 7,601 for the years ended december 31, 2025, 2024 and 2023, respectively | ||||||||||||||||||
repayment of convertible notes | 0 | 0 | ||||||||||||||||
proceeds from issuance of senior secured notes, net of issuance costs of 5,246, 0 and 0 for the years ended december 31, 2025, 2024 and 2023, respectively | ||||||||||||||||||
purchase of capped call options | 0 | 0 | ||||||||||||||||
(redemption of) investment from non-controlling interests | 0 | 11,000 | ||||||||||||||||
repayment of notes payable | 0 | 0 | -2,001,000 | -100,000 | 0 | 0 | ||||||||||||
net cash from financing activities | -1,481,000 | -7,764,000 | 4,501,000 | -2,819,000 | -1,496,000 | -2,757,000 | -7,327,000 | 3,142,000 | -4,901,000 | -5,140,000 | 102,435,000 | -2,156,000 | -2,453,000 | 1,162,000 | -3,694,000 | -4,287,000 | 378,276,000 | 131,632,000 |
effect of exchange rate changes on cash, cash equivalents and restricted cash | -14,000 | -291,000 | 67,000 | 158,000 | -188,000 | 216,000 | -46,000 | 233,000 | -130,000 | |||||||||
net increase in cash, cash equivalents and restricted cash | 2,285,000 | -19,065,000 | -14,285,000 | -22,469,000 | 7,429,000 | 8,311,000 | ||||||||||||
cash, cash equivalents and restricted cash, beginning of year | 0 | 0 | 0 | 58,085,000 | 0 | 0 | 0 | 106,475,000 | 0 | |||||||||
cash, cash equivalents and restricted cash, end of period | 5,794,000 | 2,331,000 | -17,794,000 | 60,370,000 | -19,065,000 | -14,285,000 | -22,469,000 | 113,904,000 | 8,311,000 | |||||||||
impairment loss of energy storage systems | 0 | 255,000 | 2,336,000 | 278,000 | 1,218,000 | 851,000 | ||||||||||||
loss on disposal and abandonment of property, plant and equipment | ||||||||||||||||||
impairment loss of project assets | 164,000 | 267,000 | 699,000 | 251,000 | 45,000 | 345,000 | 18,000 | 36,000 | ||||||||||
impairment loss of right-of-use assets | 0 | |||||||||||||||||
provision for (recovery of) credit losses on accounts receivable | 505,000 | 1,469,000 | 78,000 | |||||||||||||||
accrued expenses and other liabilities | 7,201,000 | -5,035,000 | 3,861,000 | -6,596,000 | -15,070,000 | 1,731,000 | 6,177,000 | -3,341,000 | -31,746,000 | |||||||||
lease liabilities | -2,151,000 | -647,000 | -542,000 | -636,000 | -738,000 | -807,000 | -794,000 | -748,000 | -593,000 | -584,000 | -415,000 | -54,000 | 28,000 | -42,000 | ||||
proceeds from issuance of senior secured notes, net of issuance costs of 5,246 and 0 for the nine months ended september 30, 2025 and 2024, respectively | ||||||||||||||||||
investment from non-controlling interests | 134,000 | 191,000 | ||||||||||||||||
net decrease in cash, cash equivalents and restricted cash | 2,331,000 | |||||||||||||||||
proceeds from issuance of senior secured notes | ||||||||||||||||||
investment from (redemption of) non-controlling interests | 0 | |||||||||||||||||
net loss | -25,000,000 | -51,137,000 | -148,300,000 | -582,270,000 | -72,307,000 | -37,685,000 | -77,072,000 | 19,122,000 | -44,778,000 | -35,273,000 | -34,275,000 | -32,023,000 | -22,483,000 | -34,054,000 | 115,612,000 | |||
adjustments to reconcile net loss to net cash from operating activities: | ||||||||||||||||||
proceeds from employee equity transactions to be remitted to tax authorities | 5,228,000 | |||||||||||||||||
distribution from (purchase of) equity method investment | ||||||||||||||||||
payments for taxes related to net share settlement of stock options | 0 | 0 | -1,529,000 | -773,000 | 0 | |||||||||||||
proceeds from financing obligations | 0 | 1,208,000 | 0 | 311,000 | 2,910,000 | 0 | ||||||||||||
proceeds from issuance of convertible notes, net of issuance costs of 0, 7,601 and 0 for the years ended december 31, 2024, 2023 and 2022, respectively | ||||||||||||||||||
(recovery of) provision for credit losses on accounts receivable | ||||||||||||||||||
proceeds from exercise of stock options and warrants | 28,000 | 80,000 | 149,000 | 82,000 | 583,000 | 264,000 | 347,000 | 210,000 | 145,389,000 | |||||||||
proceeds from issuance of convertible notes, net of issuance costs of 0 and 7,601 for the nine months ended september 30, 2024 and 2023, respectively | ||||||||||||||||||
provision for accounts receivable allowance | -458,000 | -1,004,000 | -307,000 | 20,000 | 1,212,000 | 522,000 | 1,716,000 | 864,000 | ||||||||||
proceeds from issuance of convertible notes, net of issuance costs of 0 and 7,601 for the six months ended june 30, 2024 and 2023, respectively | ||||||||||||||||||
redemption of investment from non-controlling interests | ||||||||||||||||||
net (accretion of discount) amortization of premium on investments | -29,000 | -83,000 | -372,000 | -643,000 | -657,000 | -424,000 | -109,000 | 117,000 | 293,000 | 369,000 | ||||||||
change in fair value of warrant liability and embedded derivative | 0 | -137,001,000 | ||||||||||||||||
loss on disposal of property, plant and equipment | ||||||||||||||||||
issuance of warrants for services | 0 | 0 | ||||||||||||||||
net contributions from merger and pipe financing, net of transaction costs of 58,061 | 0 | 0 | ||||||||||||||||
proceeds from issuance of convertible notes, net of issuance costs of 7,601, 0 and 14,299 for the years ended december 31, 2023, 2022 and 2021, respectively | ||||||||||||||||||
proceeds from issuance of notes payable, net of issuance costs of 0, 0 and 0 for the years december 31, 2023, 2022 and 2021, respectively | ||||||||||||||||||
gain on sale of project assets | ||||||||||||||||||
net proceeds from sale of project assets | ||||||||||||||||||
capital expenditures on project assets | ||||||||||||||||||
proceeds from issuance of convertible notes, net of issuance costs of 7,601 and 0 for the nine months ended september 30, 2023 and 2022, respectively | ||||||||||||||||||
proceeds from issuance of convertible notes, net of issuance costs of 7,601 and 0 for the six months ended june 30, 2023 and 2022, respectively | ||||||||||||||||||
effect of exchange rate changes on cash and cash equivalents | -133,000 | 126,000 | 102,000 | -168,000 | -113,000 | -23,000 | -263,000 | 67,000 | ||||||||||
net decrease in cash and cash equivalents | ||||||||||||||||||
cash and cash equivalents, beginning of year | 0 | 87,903,000 | 0 | 0 | ||||||||||||||
cash and cash equivalents, end of period | -42,478,000 | 117,883,000 | -12,195,000 | -50,905,000 | -23,534,000 | 174,537,000 | 342,591,000 | -68,949,000 | ||||||||||
proceeds from issuance of notes payable | ||||||||||||||||||
redemption of non-controlling interests | -72,000 | |||||||||||||||||
net increase in cash and cash equivalents | 29,980,000 | -12,195,000 | -50,905,000 | -23,534,000 | -573,243,000 | 342,591,000 | -68,949,000 | |||||||||||
acquisition of alsoenergy, net of cash acquired | 0 | 0 | -170,000 | -532,839,000 | ||||||||||||||
purchase of equity method investment | ||||||||||||||||||
proceeds from issuance of convertible notes, net of issuance costs of 0, 14,299 and 240 for the years ended december 31, 2022, 2021 and 2020, respectively | ||||||||||||||||||
proceeds from issuance of notes payable, net of issuance costs of 0, 0 and 1,502 for the years december 31, 2022, 2021 and 2020, respectively | ||||||||||||||||||
noncash lease expense | 591,000 | 585,000 | 546,000 | 616,000 | -54,000 | |||||||||||||
proceeds from issuance of convertible notes, net of issuance costs of 0 and 8 for the nine months ended september 30, 2022 and 2021, respectively | ||||||||||||||||||
proceeds from issuance of notes payable, net of issuance costs of 0 and 101 for the nine months ended september 30, 2022 and 2021, respectively | ||||||||||||||||||
accounts payable, accrued expenses and other current liabilities | ||||||||||||||||||
other liabilities | 270,000 | -457,000 | -225,000 | 43,000 | ||||||||||||||
sales and maturities of available-for-sale investments | ||||||||||||||||||
proceeds from issuance of convertible notes, net of issuance costs of 0 and 8 for the six months ended june 30, 2022 and 2021, respectively | ||||||||||||||||||
proceeds from issuance of notes payable, net of issuance costs of 0 and 101 for the six months ended june 30, 2022 and 2021, respectively | ||||||||||||||||||
accretion expense | 60,000 | 55,000 | 62,000 | |||||||||||||||
accounts payable and accrued expenses | 61,755,000 | 27,311,000 | 2,859,000 | |||||||||||||||
sales/maturities of available-for-sale investments | 36,271,000 | |||||||||||||||||
proceeds from issuance of convertible notes, net of issuance costs of 0 and 8 for the three months ended march 31, 2022 and 2021, respectively | ||||||||||||||||||
proceeds from issuance of notes payable, net of issuance costs of 0 and 101 for the three months ended march 31, 2022 and 2021, respectively | 6,000 | |||||||||||||||||
cash and cash equivalents, beginning of period | 747,780,000 | 0 | 0 | |||||||||||||||
right-of-use assets | ||||||||||||||||||
sale of available-for-sale investments | ||||||||||||||||||
proceeds from issuance of convertible notes, net of issuance costs of 14,299, 240 and 2,308 for the years ended december 31, 2021, 2020 and 2019, respectively | ||||||||||||||||||
proceeds from issuance of notes payable, net of issuance costs of 0, 1,502 and 0 for the years december 31, 2021, 2020 and 2019, respectively | ||||||||||||||||||
proceeds from issuance of convertible notes, net of issuance costs of 8 and 1,740 for the nine months ended september 30, 2021 and 2020, respectively | ||||||||||||||||||
proceeds from issuance of notes payable, net of issuance costs of 101 and 1,502 for the nine months ended september 30, 2021 and 2020, respectively | ||||||||||||||||||
proceeds from issuance of convertible notes, net of issuance costs of 8 and 911 for the six months ended june 30, 2021 and 2020, respectively | ||||||||||||||||||
proceeds from issuance of notes payable, net of issuance costs of 101 and 1,502 for the six months ended june 30, 2021 and 2020, respectively |