STEM

Stem, Inc. develops, deploys and operates clean energy assets in the United States and internationally, centering its offering on PowerTrack, an integrated suite of software and solutions for solar, storage and hybrid assets. The suite spans software, an energy management system (EMS), SCADA, power plant controller, logger and optimizer products, and provides advanced analytics, remote diagnostics and performance reporting. Stem also supplies OEM energy storage systems and edge hardware devices, energy optimization and asset management software, and advisory services.

Alongside software, Stem offers managed services covering the design, procurement, commissioning, operation and optimization of energy storage and hybrid systems, supported by PowerTrack Optimizer (formerly Athena), plus professional services for solar and storage projects and the sale of project assets. In 2026 the company added AIONA, an AI consulting and implementation practice that helps organizations identify opportunities, build solutions on existing systems and deliver measurable operational value.

The company was incorporated in 2009 and is headquartered at 1400 Post Oak Boulevard, Houston, Texas. It reports roughly 423 full-time employees and manages projects in more than 50 countries, and states customers have used its offerings for nearly 20 years.

Founding story

Stem was founded in 2009 with proprietary data analytics and an intelligent energy storage system intended to let businesses lower electricity expenses without changing day-to-day operations.

Business model

Stem combines subscription and licensed software (the PowerTrack suite, including EMS, SCADA, power plant controller, logger and optimizer) with hardware and services. It sells OEM energy storage systems and edge hardware, managed services across the asset lifecycle, professional services for solar and storage projects, advisory work, and it also sells project assets.

Revenue is generated from software and hardware sales, managed and professional services, advisory services, and sales of project assets.

Traction

Stem reports solar assets under management across more than 200,000 sites worldwide, 16,000 customers, and projects managed in over 50 countries. Reported financials include trailing twelve-month revenue of about $148.0 million, a trailing net loss attributable to common shareholders of about $73.1 million, Q1 FY26 revenue of about $29 million with a loss of about $18.9 million, and total cash of about $38.4 million.

Latest developments

In 2026 Stem launched AIONA, a dedicated AI services offering, and its PowerTrack Energy Management System won The smarter E AWARD 2026 in the "Smart Integrated Energy" category. The company reported second quarter 2026 results on 12 August 2026. Analyst coverage in August 2026 included UBS maintaining a Neutral rating while lowering its price target from $10.50 to $7.00.