Stem (STEM) 2023 Earnings Call Presentation

Financial Performance & Guidance - Stem reported Q2 2023 revenue of $93 million, a 39% year-over-year increase[12] - The company's adjusted EBITDA for Q2 2023 was $(9) million[12] - GAAP gross margin was 13% and non-GAAP gross margin was 18% in Q2 2023[12] - Stem reaffirms full-year 2023 revenue guidance of $550 million to $650 million and bookings of $14 billion to $16 billion[65] - The company anticipates achieving positive adjusted EBITDA in the second half of 2023[13] Operational Metrics & Growth - Bookings reached $236 million in Q2 2023, a 5% year-over-year increase[12] - Contracted backlog grew to $136 billion, an 88% year-over-year increase[12] - Contracted Annual Recurring Revenue (CARR) increased by 5% quarter-over-quarter to $75 million[12] Market Outlook & Strategy - The US Front-of-the-Meter (FTM) storage market is projected to reach 51068 MWh in 2026, representing a 46% CAGR from 2022[34] - The US Behind-the-Meter (BTM) storage market is projected to reach 3132 MWh in 2026, representing a 48% CAGR from 2022[36] - US Solar market is projected to reach 33977 MW in 2026, representing a 21% CAGR from 2022[37] - Municipalities and Co-ops are expected to represent >20% of future storage deployments[40]