Stem reports Q3 revenue $38.2M, consensus $38.46M

“We delivered solid revenue growth and the second consecutive quarter of positive adjusted EBITDA in the third quarter of 2025,” said Arun Narayanan, CEO of Stem (STEM). “It has been one year since our strategic transformation was announced, and our results demonstrate the strength of our software-centric approach. With ARR growing 17% year-over-year and strong operating leverage evidenced by our gross margin performance, we are refining our guidance ranges across nearly all metrics. We have reduced the historical volatility in our business, we have de-risked the low end of nearly all guidance ranges, and we feel confident about the stability of our business. Our diversified AI-driven platform continues to capitalize on rising energy demand while our operational discipline positions us well to drive towards profitable growth.”