Stem, Inc. reaffirmed its full-year 2026 guidance across all metrics during its second-quarter earnings call. CEO Arun Narayanan highlighted a fifth consecutive quarter of positive adjusted EBITDA, record non-GAAP gross margins of 55%, and breakeven operating cash flow of $0.3 million. CFO Brian Musfeldt reiterated total revenue guidance of $140 million to $190 million, with software, services, and edge hardware expected between $130 million and $150 million, and adjusted EBITDA of $10 million to $15 million, tracking toward the high end. The company attributed the year-over-year revenue decline to lower battery hardware resales, while PowerTrack software revenue grew 11% to $11 million and edge hardware grew 22% to $15 million. Management expects battery hardware resale revenue to increase in the second half, which will pressure margins back toward the guided range.
Stem IncReaffirmed 2026 guidance, fifth straight positive EBITDA quarter, record gross margins, and breakeven operating cash flow.
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