Momentum investing is essentially an exception to the idea of "buying low and selling high." Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead ...

Financial Performance - Revenues plunged by 78% in Q3 2024 and 70% over the first nine months of 2024 compared to the previous year [1] - Full-year 2024 revenue forecast lowered to $135-$155 million from $200-$270 million [4] - Zacks Consensus Estimate for 2024 revenues is $136.9 million, indicating a year-over-year decline of 70.3% [4] - Bookings forecasted to be between $100 million and $500 million, down from $600 million to $1.1 billion [6] Business Strategy and Transition - Significant decline in hardware sales due to weak demand, financing delays, and project-related interconnections [9] - Shift toward shorter software and service contracts, now typically ranging from three to five years [5] - Reduction in battery resales, changes in production and marketing, and realignment of business processes [18] - New business plan focuses on developing and marketing AI-enabled software and services [19] Industry and Market Position - Shares of GDYN, VRT, and DXC gained 119.3%, 32.8%, and 8.5% respectively over the past six months [10] - Stem's shares declined by 42.8% in six months, underperforming the Zacks Computer and Technology sector and Computers - IT Services industry [15] Innovations and Projects - Successful completion of a solar and storage co-location project with Arizona Electric Power Cooperative and Prometheus Power [3] - Deployment of Stem's AI-powered clean energy software, Athena, for ongoing operation and monitoring of the storage system [3] - Mercuria Energy Trading standardized on Stem's PowerBidder Pro for a second clean energy asset in Texas [16] - Launch of the PowerTrack Asset Performance Management suite for managing storage, solar, and hybrid energy assets [22] Challenges and Outlook - Unpredictability in timelines for utility-scale storage hardware projects [12] - Macroeconomic challenges such as prolonged inflation, potential import tariffs, and geopolitical issues [21] - STEM asserts its edge device and AI-enabled software are uniquely positioned to drive growth in renewable energy [13]

DALLAS, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Adam Ferrari, CEO of Phoenix Capital Group, announced a $2,000 sponsorship in collaboration with The West Point Society of North Texas to advance STEM education and mental health resources within the region. This sponsorship reflects Ferrari’s dedication to supporting impactful community programs that align with Phoenix Capital Group’s mission of giving back through education and well-being initiatives. Founded in 2019, Phoenix Capital Group Holdings, LLC is a leadi ...

stem October 30, 2024 Q3 2024 Financial Results Cautionary Statement Regarding Forward-Looking Statements This presentation, as well as other statements we make, contains "forward-looking statements" within the meaning of the federal securities laws, which include any statements that are not historical facts. Such statements often contain words such as "expect," "may," "can," "believe," "predict," "plan," "potential," "projected," "projections," "forecast," "estimate," "intend," "anticipate," "ambition," "g ...

Stem, Inc. (NYSE:STEM) Q3 2024 Earnings Call October 30, 2024 5:00 PM ET Company Participants Ted Durbin - Head, Investor Relations David Buzby - Interim Chief Executive Officer Doran Hole - Chief Financial Officer and Executive Vice President Mike Carlson - Chief Operating Officer Conference Call Participants James West - Evercore ISI Thomas Boyes - TD Cowen Justin Clare - ROTH Capital Partners Operator Good day, everyone and welcome to the Stem Inc. Third Quarter 2024 Results Conference Call. [Operator In ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ————————————————— FORM 10-Q ————————————————— ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ STEM, INC. | --- | --- | --- | --- | --- | |--------------------------------|------------------------------- ...

Stem, Inc. (STEM) came out with a quarterly loss of $0.21 per share versus the Zacks Consensus Estimate of a loss of $0.20. This compares to loss of $0.17 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -5%. A quarter ago, it was expected that this company would post a loss of $0.23 per share when it actually produced a loss of $0.22, delivering a surprise of 4.35%. Over the last four quarters, the company has surpassed conse ...

Revenue and Financial Performance - Revenue decreased 78% year-over-year to $29.3 million in 3Q24, down from $133.7 million in 3Q23, primarily due to reduced battery hardware sales and a $5.6 million adjustment from revised hardware contract valuations[1][5] - The company updated its full-year 2024 revenue guidance to $135-$155 million, down from the previous range of $200-$270 million, reflecting project delays and the new strategy implementation[14] - Total revenue for the nine months ended September 30, 2024, was $88.759 million, a significant decrease from $294.091 million in the same period in 2023[32] - Revenue for the three months ended September 30, 2024, was $29.3 million, compared to $133.7 million in the same period in 2023[38] - Revenue for the nine months ended September 30, 2024, was $88.8 million, compared to $294.1 million in the same period in 2023[38] Gross Margin and Profitability - GAAP gross margin improved to 21% in 3Q24, up from (15)% in 3Q23, driven by a higher mix of software and services revenue[1][6] - Non-GAAP gross margin reached a record 46% in 3Q24, up from 12% in 3Q23, reflecting strong growth in high-margin software and services revenue[1][7] - GAAP gross profit for the three months ended September 30, 2024, was $6.2 million, with a gross margin of 21%, compared to a loss of $20.3 million and a margin of -15% in 2023[38] - Non-GAAP gross profit for the three months ended September 30, 2024, was $16.2 million, with a gross margin of 46%, compared to $21.4 million and a margin of 12% in 2023[38] - GAAP gross profit for the nine months ended September 30, 2024, was a loss of $8.6 million, with a gross margin of -10%, compared to a loss of $7.4 million and a margin of -3% in 2023[38] - Non-GAAP gross profit for the nine months ended September 30, 2024, was $43.5 million, with a gross margin of 34%, compared to $52.9 million and a margin of 15% in 2023[38] - Gross loss for the nine months ended September 30, 2024, was $8.620 million, compared to a gross loss of $7.426 million in the same period in 2023[32] Net Loss and Impairments - Net loss widened to $148.3 million in 3Q24, compared to $77.1 million in 3Q23, primarily due to a $104.1 million bad debt expense related to impaired receivables[1][8] - Net loss for the nine months ended September 30, 2024, was $802.877 million, compared to a net loss of $102.728 million in the same period in 2023[32] - Net loss for the nine months ended September 30, 2024, was $802.9 million, compared to $102.7 million in the same period in 2023[34] - Impairment of goodwill for the nine months ended September 30, 2024, was $547.152 million[32] - Impairment of goodwill for the nine months ended September 30, 2024, was $547.2 million[34] - A bad debt expense of $104.1 million was recorded in Q3 2024 due to impairment of accounts receivable related to customer contracts with parent company guarantees[16][26] Cash Flow and Liquidity - Cash and cash equivalents decreased to $75.364 million as of September 30, 2024, from $105.375 million as of December 31, 2023[30] - Net cash used in operating activities for the nine months ended September 30, 2024, was $21.9 million, compared to $205.2 million in the same period in 2023[34] - Cash, cash equivalents, and restricted cash at the end of September 30, 2024, were $77.2 million, compared to $98.2 million at the end of September 30, 2023[34] - Proceeds from maturities of available-for-sale investments for the nine months ended September 30, 2024, were $8.3 million, compared to $119.7 million in the same period in 2023[34] - Repayment of financing obligations for the nine months ended September 30, 2024, was $7.0 million, compared to $7.8 million in the same period in 2023[34] Assets and Liabilities - Total current assets decreased to $227.530 million as of September 30, 2024, from $472.965 million as of December 31, 2023[30] - Total liabilities decreased to $881.390 million as of September 30, 2024, from $930.296 million as of December 31, 2023[30] Bookings and Backlog - Contracted backlog decreased 2% sequentially to $1.55 billion in 3Q24, driven by low bookings and backlog conversion to revenue[9] - Bookings dropped to $29.1 million in 3Q24, down from $676.4 million in 3Q23, reflecting the strategic shift towards higher-margin software and services[10] - Contracted Backlog represents the total value of bookings in dollars as of a specific date, increasing with new contracts and decreasing as systems are delivered and recognized as revenue[41] Contracted Assets and Recurring Revenue - Contracted storage AUM increased 3% sequentially to 6.0 GWh in 3Q24, while solar monitoring AUM rose 6% to 28.5 GW[10] - CARR grew 2% sequentially to $92.3 million in 3Q24, up from $90.1 million in 2Q24[11] - Contracted Assets Under Management (AUM) includes the total GWh of storage systems in operation or under contract[41] - Contracted Annual Recurring Revenue (CARR) is the annual run rate for all executed software services contracts, including those for systems not yet commissioned or operating[41] Strategic Shifts and Leadership - The company appointed Albert Hofeldt as Chief Technology Officer to lead enhanced AI-enabled software and edge device capabilities as part of the new software and services-centric strategy[13] - The company has not issued new hardware value guarantees since June 2023 and does not intend to issue any in the future[16] Non-GAAP Metrics - Adjusted EBITDA and non-GAAP gross profit are used for financial and operational decision-making, excluding certain expenses like stock-based compensation and non-cash charges[19][20] - Non-GAAP gross margin is defined as non-GAAP gross profit as a percentage of revenue[23] - Adjusted EBITDA for the nine months ended September 30, 2024, was $(27.0) million, compared to $(24.1) million in the same period in 2023[37] Market Conditions and Risks - The company recorded a net revenue reduction of $37.4 million in hardware revenue for Q3 2023, $38.7 million for Q1 2024, and $5.6 million for Q3 2024 due to market conditions and revised asset valuations[16] - The company faces risks from macroeconomic factors, including inflation, interest rates, geopolitical tensions, and potential economic slowdowns[17] - Forward-looking statements include expectations regarding financial targets, business strategy, and the impact of macroeconomic and geopolitical factors[28] Lithium Carbonate Contracts - The company recorded $42 million in revenue for Q1 2023, net of a $10 million revenue constraint, related to indexed contracts tied to lithium carbonate prices[24] - The total dollar amount of indexed purchase orders for lithium carbonate-related contracts is approximately $52 million[24] - The company expects to receive at least $34 million in final consideration from indexed purchase orders[24] Operating Expenses and Share Metrics - Total operating expenses for the nine months ended September 30, 2024, were $783.693 million, compared to $138.367 million in the same period in 2023[32] - Weighted-average shares used in computing net loss per share increased to 160,997,019 for the nine months ended September 30, 2024, from 155,474,725 in the same period in 2023[32] - Stock-based compensation for the nine months ended September 30, 2024, was $21.7 million, compared to $28.3 million in the same period in 2023[34] - Depreciation and amortization expense for the nine months ended September 30, 2024, was $33.2 million, compared to $33.6 million in the same period in 2023[34] - Change in fair value of derivative liability for the nine months ended September 30, 2024, was $(1.5) million, compared to $7.7 million in the same period in 2023[34] Customer Contracts and Installations - Customer contracts are typically executed 6-24 months ahead of installation, with bookings including hardware and services revenue[40]

SkinSpirit will make a kick-off donation and offer clients the ability to donate directly to Girls Inc. from November 1 – 15thIRVINE, Calif., Oct. 29, 2024 /PRNewswire/ -- In its sixth year of partnership with Girls Inc., Allergan Aesthetics, an AbbVie company, will be joined by SkinSpirit, a premier destination for medical aesthetics and skincare, in their efforts to inspire girls to be strong, smart and bold and explore career paths in STEM.In its first year of participation, SkinSpirit will kick off the ...

Stem, Inc. (STEM) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 30 ...