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Stem, Inc. (STEM) Q4 2025 Earnings Call Transcript

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Q4: 2026-03-04 Earnings Summary

EPS of -$2.11 misses by $0.15

 | Revenue of $47.20M (-15.41% Y/Y) beats by $7.81M

Stem, Inc. (STEM) Q4 2025 Earnings Call March 4, 2026 5:00 PM EST

Company Participants

Erin Reed – Head of Investor Relations
Arun Narayanan – CEO & Director
Brian Musfeldt – Chief Financial Officer

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Conference Call Participants

Justin Clare – ROTH Capital Partners, LLC, Research Division

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Presentation

Operator

Greetings. Welcome to Stem’s Fourth Quarter 2025 Results Conference Call. [Operator Instructions] Please note, this conference is being recorded.

I will now turn the conference over to Erin Reed, Head of Investor Relations. Thank you. You may begin.

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Erin Reed
Head of Investor Relations

Thank you, operator. This is Erin Reed, Head of Investor Relations at Stem. We welcome you to our fourth quarter and full year 2025 earnings call. Before we begin, please note that some of the statements we will be making today are forward-looking. These statements involve risks and uncertainties that could cause our results to differ materially from those projected in these statements. We, therefore, refer you to our latest 10-K and other SEC filings and supplemental materials, which can be found on our IR website.

Our comments today also include non-GAAP financial measures. Additional details and reconciliations to the most directly comparable GAAP financial measures can be found in our fourth quarter and full year 2025 earnings release, which is on our website. Arun Narayanan, CEO; and Brian Musfeldt, CFO, will start the call today with prepared remarks, and then we will take your questions. With that, I will turn the call over to Arun.

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Arun Narayanan
CEO & Director

Thank you, Erin. Good afternoon, everyone, and thank you all for joining us today. I am pleased to be speaking with you 1 year after assuming the role of CEO, and I could not be more proud of what the Stem team has accomplished over the past 12 months, best-in-class execution, unwavering commitment to our

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