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Financial Performance - Total revenue increased from $88.8 million for the nine months ended September 30, 2024, to $109.1 million for the nine months ended September 30, 2025, representing a growth of approximately 23.1%[161] - Net income for the nine months ended September 30, 2025, was $153.7 million, compared to a net loss of $802.9 million for the same period in 2024[161] - Revenue for the three months ended September 30, 2025, increased by $8.9 million, or 31%, to $38.2 million compared to $29.3 million in the same period of 2024[218] - Hardware revenue surged by $12.7 million, or 177%, to $19.8 million, driven by increased sales of edge hardware[219] - GAAP gross profit for the three months ended September 30, 2025, was $13.5 million, representing a gross margin of 35%, compared to a gross profit of $6.2 million and a margin of 21% in 2024[218] - Adjusted EBITDA for the three months ended September 30, 2025, was $2.0 million, compared to a loss of $3.5 million for the same period in 2024[193] - Annual Recurring Revenue (ARR) increased to $60.2 million for the nine months ended September 30, 2025, up from $51.4 million in 2024[218] - Total revenue increased by $20.4 million, or 23%, for the nine months ended September 30, 2025, driven by a $15.5 million increase in hardware revenue and a $4.9 million increase in services and other revenue[230] - Cost of revenue decreased by $25.2 million, or 26%, for the nine months ended September 30, 2025, primarily due to a $26.2 million decrease in hardware revenue costs[231] - Net loss for the three months ended September 30, 2025, was $23.8 million, a significant improvement from a net loss of $148.3 million in the same period of 2024[218] Cash Flow and Financing - As of September 30, 2025, the company had cash and cash equivalents of $43.1 million, with a working capital deficit of $19.8 million[243] - For the nine months ended September 30, 2025, net cash used in operating activities was $1.4 million, with a net income of $153.7 million adjusted for non-cash items[264] - During the same period, net cash used in investing activities was $5.7 million, primarily for capital expenditures related to internally-developed software[266] - The company reported net cash used in financing activities of $6.1 million for the nine months ended September 30, 2025, mainly due to repayment of financing obligations[268] - The total financing obligation as of September 30, 2025, was $45.3 million, with $14.2 million classified as a current liability[247] - The company accrued $5.2 million in debt issuance costs related to the issuance of new notes[260] - The company used approximately $66.7 million of the net proceeds from the 2028 Convertible Notes to pay for capped call transactions to minimize potential dilution to common stockholders[249] - On April 3, 2023, the company issued $240.0 million in aggregate principal amount of 2030 Convertible Notes, bearing interest at 4.25% per year, maturing on April 1, 2030[253] - The company recorded a $220.0 million gain on debt extinguishment from the exchange of approximately $228.8 million of 2028 Convertible Notes and $121.3 million of 2030 Convertible Notes for 2030 Senior Secured Notes[251] - The 2030 Senior Secured Notes bear interest at 12.00% per year if paid in kind, or 11.00% per year if paid in cash, maturing on December 30, 2030[261] Operational Changes and Workforce - The company announced a 27% reduction in its global workforce on April 9, 2025, incurring $6.0 million in restructuring costs related to this reduction[162] - The company is focusing on developing and marketing AI-enabled software and services, which has resulted in operational changes and increased restructuring-related costs[163] - Research and development expenses decreased by $4.2 million, or 38%, to $6.9 million for the three months ended September 30, 2025, due to reduced headcount[222] - Sales and marketing expenses decreased by $1.2 million, or 15%, to $7.0 million for the three months ended September 30, 2025, primarily due to lower personnel costs[221] - General and administrative expenses decreased by $26.6 million, or 43%, for the nine months ended September 30, 2025, compared to the same period in 2024[234] Market and Regulatory Environment - The One Big Beautiful Bill Act (OBBB) enacted in July 2025 introduced changes to clean energy tax credit programs, including the expiration of the Investment Tax Credit for residential solar and storage systems by December 31, 2025[170] - The OBBB also amended domestic content bonus credit rules, increasing the domestic cost threshold for Section 48E projects from 40% to 45%[171] - The company expects the cost of generating renewable energy to continue to decline, leading to increased deployments of energy storage systems[180] - The company has entered into strategic joint ventures to develop energy storage generation projects but is not making further investments in these projects[179] - The company faces competition from energy monitoring software providers and hardware integration providers, but believes it is well-positioned in the market[182] Accounts Receivable and Backlog - As of September 30, 2025, the company has recovered $2.7 million of the previously written-off accounts receivable totaling $104.1 million[177] - Bookings for the nine months ended September 30, 2025, totaled $99.1 million, reflecting strong demand for energy optimization services[218] - Contracted backlog at the end of September 2025 was $22.2 million, indicating a stable pipeline of future revenue[218] Losses and Liabilities - The company has incurred net operating losses and negative cash flows from operations each year since its inception in 2009, primarily financing operations through customer cash flows and convertible senior notes[160] - As of September 30, 2025, the company had an accumulated deficit of $1,472.8 million[161] - Interest expense increased by $1.8 million, or 13%, for the nine months ended September 30, 2025, compared to the same period in 2024[236] - The company recorded an increase in fair value of warrant liability of $4.2 million during the nine months ended September 30, 2025[239] - Following a reverse stock split of 1-for-20 on June 23, 2025, the company regained compliance with NYSE listing requirements as its share price exceeded $1.00[169]

Financial Data and Key Metrics Changes - The company reported third quarter revenue of $38 million, up 31% year over year, with ARR growing 17% year over year to $60 million [3][18] - Achieved positive adjusted EBITDA for the second consecutive quarter and generated positive operating cash flow [3][13] - GAAP gross margins were 35% and non-GAAP gross margins were 47%, reflecting an increasing mix of higher margin software and services [19] Business Line Data and Key Metrics Changes - PowerTrack software revenue grew 11% year over year, while Edge Hardware revenue increased 18% year over year [18] - Managed services revenue decreased year over year due to one-time overperformance in the previous year [18][12] - Recurring base revenue for managed services grew 14% year over year and 4% sequentially [12] Market Data and Key Metrics Changes - The company launched PowerTrack EMS, which is expected to expand the total addressable market by targeting utility-scale and international hybrid projects [6][8] - Bookings were $30 million, down slightly from the previous quarter, primarily due to timing of bookings from battery hardware resales [22] Company Strategy and Development Direction - The company is focused on driving software and services revenue growth, revamping software development, and reducing cost structure [5][12] - International expansion is a key component of the corporate strategy, with efforts to penetrate European markets and leverage existing teams in Berlin and Japan [16][17] - The strategic transformation has unified the corporate identity under the STEM brand and streamlined the product portfolio [4] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of the business and the ability to meet guidance expectations despite macro headwinds [16] - The company is well-positioned to benefit from projected international load growth and is optimistic about the demand for its products [16][17] - Management noted that customer engagement levels remain strong despite industry uncertainties [36] Other Important Information - The company has refined its full-year 2025 guidance, tightening ranges and raising the low end for software, edge hardware, and services revenue [15][23] - Operating cash flow turned positive at $11 million, a $21 million improvement compared to the same quarter last year [21] Q&A Session Summary Question: Guidance update and outlook - Management clarified that they are still tracking towards the midpoint or high end of all ranges, with the main difference being the de-emphasized hardware resale business [28][29] Question: Gross margin expectations - Management indicated that Q4 may see slight compression in gross margins due to a mix shift with higher sales of battery hardware, but expects to continue improving margins in the long term [30][31] Question: Demand for PowerTrack EMS - Management expressed enthusiasm about PowerTrack EMS and its potential to open new markets, particularly in small utility-scale sites [32] Question: Customer demand and industry outlook - Management reported maintaining momentum in customer engagement and noted that conversations with customers remain unchanged despite industry challenges [36] Question: Path to profitability - Management acknowledged the importance of demonstrating a path to operating income and net income positivity, with more guidance expected in future calls [38][40] Question: Opportunities in hyperscaler data centers - Management is monitoring the data center market for potential shifts towards renewable energy solutions and is open to exploring opportunities in that space [48] Question: Operating expenses outlook - Management indicated that the current cash operating expense trend is a good indication of future performance, with ongoing efforts to manage costs effectively [49][50]

Stem beat on revenue but missed on earnings, causing the stock to sell off in after hours. ...

October 29, 2025 Third Quarter 2025 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," "ambitio ...

Exhibit 99 Stem Announces Third Quarter 2025 Results Increased revenue by 31% YoY to $38 million Executed second consecutive quarter of positive adjusted EBITDA Increased ARR by 3% QoQ and 17% YoY to $60 million, evidencing continued software-focused strategy execution Achieved third consecutive quarter of strong gross margins Refining and de-risking full-year 2025 financial and operating guidance HOUSTON – Oct. 29, 2025 – Stem, Inc. ("Stem," "we" or the "Company") (NYSE: STEM), a global leader reimagining ...

Core Insights - CERo Therapeutics Holdings, Inc. is participating in a stem cell therapy panel at the Maxim Growth Summit on October 22-23, 2025, in New York City [1][2] - The panel will be moderated by Jason McCarthy, Ph.D., Senior Managing Director at Maxim Group [2] - Chris Ehrlich, CEO of CERo, will be available for one-on-one meetings during the conference [3] Company Overview - CERo is an innovative immunotherapy company focused on developing next-generation engineered T cell therapeutics for cancer treatment [4] - The company’s proprietary T cell engineering approach integrates characteristics of both innate and adaptive immunity, aiming to optimize cancer therapy [4] - CERo's Chimeric Engulfment Receptor T cells (CER-T) are designed to redirect patient-derived T cells to eliminate tumors using phagocytic mechanisms, potentially allowing broader therapeutic applications than current CAR-T therapies [4] - Clinical trials for CERo's lead product candidate, CER-1236, targeting hematological malignancies have commenced [4]

Core Insights - The equity market serves as a significant mechanism for wealth creation or destruction over the long term through daily price fluctuations [1] Group 1: Investment Focus - Pacifica Yield aims to create long-term wealth by focusing on undervalued high-growth companies, high-dividend stocks, REITs, and green energy firms [1]

Core Points - Stem, a leader in AI-enabled clean energy software and services, will hold a conference call to discuss its quarterly results [1] - The conference call is scheduled for October 29, 2025, at 5:00 p.m. Eastern Time [1] - A press release regarding the results will be issued at approximately 4:05 p.m. Eastern Time on the same day [1] - The conference call will be accessible via a live webcast on a listen-only basis [1]