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					</table><p>Smart energy storage company <a href="https://www.stem.com/" target="_blank" rel="noopener">Stem</a> recorded revenue of $67 million in the second quarter (Q2) of 2022, a year-over-year (YoY) increase of 246% from $19 million.</p>
<p>Stem attributed higher hardware revenue from Front-of-the-Meter (FTM) and Behind-the-Meter (BTM) partnership agreements to revenue growth clubbed with $14 million of revenue contribution from the inclusion of AlsoEnergy.</p>
<p>Stem posted an adjusted Earnings Before, Interest, Tax, Depreciation, and Amortization (EBITDA) of $11 million, a YoY leap of 38% from $8 million in the previous year’s Q2.</p>
<p>The company said that higher operating expenses resulting from increased personnel costs, continued investment in growth initiatives, and costs associated with public reporting requirements influenced the EBITDA in Q2 2022.</p>
<p>The non-GAAP gross margin of Stem was $11.3 million compared to $1.5 million in last year’s Q2. The company said that the growth in the gross margin was due to a higher mix of software and services and higher hardware margins.</p>
<p style="text-align: center;"><a href="https://mercomindia.com/wp-content/uploads/2022/08/Stem-1.png"><img decoding="async" loading="lazy" class="alignnone wp-image-39512 size-full" src="https://mercomindia.com/wp-content/uploads/2022/08/Stem-1.png" alt="Stem-1" width="1675" height="1480" srcset="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/08/Stem-1.png 1675w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/08/Stem-1-300x265.png 300w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/08/Stem-1-768x679.png 768w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/08/Stem-1-1536x1357.png 1536w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/08/Stem-1-650x574.png 650w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/08/Stem-1-624x551.png 624w, https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/08/Stem-1-600x530.png 600w" sizes="(max-width: 1675px) 100vw, 1675px" /></a></p>
<p>Stem incurred a net loss of $32 million in Q2, a YoY decline of 68% in losses from $100 million in the same period a year ago.</p>
<p>Non-cash revaluation of warrants tied to changes in the value of the underlying common stock reported in Q2 2021 drove the improvement. Stem also redeemed all outstanding private and public warrants in September 2021, streamlining its capital structure that reflected in less quarter-to-quarter variability in its net loss.</p>
<p>The energy storage firm’s assets under management (AUM) for contracted storage increased YoY by 75% to 2.1 GWh, mainly driven by new contracts. Solar monitoring AUM of Stem for the period stood at 32.1 GW.</p>
<p>Stem’s contracted order backlog totaled $727 million, a quarter-over-quarter (QoQ) spike of 29% from $565 million in Q1. The increase resulted from quarterly bookings of $226 million, partially offset by revenue recognition, contract cancellations, and amendments.</p>
<p>The company’s total <a href="https://mercomindia.com/stem-posts-166-growth-in-revenue/" target="_blank" rel="noopener">revenue</a> in Q1 2022 stood at $44.1 million, a YoY surge of 166% from $15.4 million.</p>
<p>Last December, Stem <a href="https://mercomindia.com/stem-to-acquire-also-energy/" target="_blank" rel="noopener">acquired</a> energy storage and software services provider AlsoEnergy for $695 million.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gourav-mishra/" class="vcard author" rel="author"><span class="fn">Gourav Mishra</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="50" /></p>
<p><strong style="text-decoration: underline">Gourav,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav.</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="89" height="102" /><a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">Gourav</a> is a staff reporter with Mercom India with over six years of experience in various roles with NewsX, The New Indian Express, IBTimes India, and U.S., Republic, and Analytics India Magazine. Gourav has a Master&#8217;s in journalism from Jain University, Bengaluru. <a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav Mishra</a></div>
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Energy Storage Firm Stem’s Loss Narrows to $32 Million in Q2 2022

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