Stem STEM Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Revenue by Product | ||||||
| Battery hardware resale | $0-100% | $605K-97.8% | $4.27M+171% | $5.43M-30.0% | $4.53M+75.4% | |
| Edge hardware | $10.33M+0.6% | $15.82M+21.3% | $15.56M+17.8% | $12.09M+8.6% | $10.26M+27.5% | |
| Managed services | $6.68M-5.2% | $7.6M+51.2% | $6.55M-3.6% | $9M— | $7.05M— | |
| PowerTrack software | $10.27M+16.0% | $9.87M+14.4% | $9.38M+10.5% | $9.52M— | $8.85M— | |
| Project and professional services & other | $1.72M-5.3% | $13.25M+540% | $2.48M-63.9% | $2.33M— | $1.82M— | |
| Total Cost of Revenue by Product | ||||||
| Hardware revenue | $6.2M-41.3% | $9.09M-78.6% | $12.68M+71.2% | $11.31M-17.2% | $10.56M-73.4% | |
| Services and other revenue | $11.94M+4.7% | $15.01M-4.8% | $11.98M-23.7% | $14.26M+30.2% | $11.41M+14.3% | |
| Revenue by Geography | ||||||
| Rest of the world | $1.32M+69.7% | $1.17M+50.1% | $2.17M+16.3% | $1.94M+42.7% | $779K-33.7% | |
| United States | $27.68M-12.8% | $45.97M-16.5% | $36.07M+31.5% | $36.44M+11.6% | $31.73M+30.6% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Stem break its business down?
- Stem (STEM) reports revenue by product across 5 parts — Battery hardware resale, Edge hardware, Managed services, PowerTrack software and Project and professional services & other. Each is extracted from the segment footnotes and tracked over time.
- Where does Stem's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Stem's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
