Stem(STEM) - 2024 Q2 - Quarterly Results

Exhibit 99 Stem Announces Second Quarter 2024 Results Revising Full Year 2024 Guidance Activated $3 million of ARR in 2Q, Representing +7% QoQ Growth Expect Full Year Positive Operating Cash Flow Bill Bush to step down as CFO effective September 2, 2024; Doran Hole to be named CFO as part of planned succession Second Quarter 2024 Financial and Operating Highlights Financial Highlights • Revenue of $34.0 million, down from $93.0 million (-63%) in 2Q23 • GAAP gross profit of $9.4 million, down from $11.9 mill ...