STEM, INC.
STEM · Services-Computer Integrated Systems Design · 9.0M shares · -35%/yr ↓ buyback · EDGAR filings ↗
Reference price $10.83 · est. market cap ~$97M — last insider sale, 2026-03-11 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D42Energy-storage software/services company with operating losses and thin liquidity.
Strengths
- Positive operating cash flow — OCF margin 4%
Risks
- Operating losses — operating margin -36%
- Thin liquidity — current ratio 0.91 (25th)
- Hardware-pass-through-margin and bookings risk — per 10-K
Notable findings
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC, GOLDMAN SACHS GROUP INC
- Auditor changeRecent 8-K item 4.01 8-K ↗
- Weak liquidityCurrent ratio 0.91 (<1)
- Exec changeRecent 8-K item 5.02 8-K ↗
- Buying back stockNet buyback — share count -35%/yr over 4y
- Notable holderHeld by 4 notable fund(s): RENAISSANCE TECHNOLOGIES LLC, STATE STREET CORP, CITADEL ADVISORS LLC +1 more (as of 2026-03-31)
- Insider sellingInsider selling — 9 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, last 6mo) Form 4 ↗
- Revenue declineRevenue -38.5% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
38.4%
Operating margin
-35.6%
Net margin
88.2%
Return on equity
-55.2%
Return on assets
44.6%
Revenue growth (QoQ)
-38.5%
Current ratio
0.9×
EBITDA
-$11M
Tangible book value
-$372M
Cash & investments
$49M
Stock comp / revenue
6.5%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-03-11 | Tappin Matthew | Sell | 402 | $10.83 |
| 2026-03-10 | Narayanan Arun | Sell | 5.1K | $11.12 |
| 2026-03-10 | Carlson Michael James | Sell | 2.1K | $11.12 |
| 2026-03-10 | Tappin Matthew | Sell | 655 | $11.12 |
| 2026-03-10 | Laureles Saul R. | Sell | 942 | $11.12 |
| 2026-03-07 | Narayanan Arun | Option exercise | 5.6K | — |
| 2026-03-07 | Narayanan Arun | Option exercise | 12K | — |
| 2026-03-07 | Tappin Matthew | Option exercise | 1.5K | — |
| 2026-03-07 | Carlson Michael James | Option exercise | 3.5K | — |
| 2026-03-07 | Laureles Saul R. | Option exercise | 2.9K | — |
| 2026-03-04 | Tappin Matthew | Sell | 185 | $10.00 |
| 2026-03-03 | Tappin Matthew | Sell | 300 | $9.67 |
| 2026-03-03 | Laureles Saul R. | Sell | 292 | $9.67 |
| 2026-03-01 | Tappin Matthew | Option exercise | 670 | — |
| 2026-03-01 | Laureles Saul R. | Option exercise | 904 | — |
| 2026-02-20 | Tappin Matthew | Sell | 366 | $11.40 |
| 2026-02-19 | Carlson Michael James | Tax withheld | 730 | $11.30 |
| 2026-02-19 | Tappin Matthew | Tax withheld | 522 | $11.30 |
| 2026-02-19 | Laureles Saul R. | Tax withheld | 536 | $11.30 |
| 2026-02-15 | Laureles Saul R. | Option exercise | 1.8K | — |
| 2026-02-15 | Tappin Matthew | Option exercise | 1.3K | — |
| 2026-02-15 | Carlson Michael James | Option exercise | 1.3K | — |
| 2025-11-18 | Shukla Rahul | Sell | 3.7K | $16.21 |
| 2025-11-11 | Tappin Matthew | Sell | 9.6K | $17.70 |
| 2025-11-10 | Laureles Saul R. | Tax withheld | 3.4K | $18.27 |
| 2025-11-10 | Tappin Matthew | Tax withheld | 5.4K | $18.27 |
| 2025-11-10 | Shukla Rahul | Tax withheld | 2.1K | $18.27 |
| 2025-11-10 | Carlson Michael James | Tax withheld | 6.7K | $18.27 |
| 2025-11-07 | Carlson Michael James | Option exercise | 14K | — |
| 2025-11-07 | Tappin Matthew | Option exercise | 15K | — |
| 2025-11-07 | Shukla Rahul | Option exercise | 5.8K | — |
| 2025-11-07 | Laureles Saul R. | Option exercise | 14K | — |
| 2025-07-03 | BUZBY DAVID S | Gift | 5.5K | — |
| 2025-07-03 | BUZBY DAVID S | Gift | 5.5K | — |
| 2025-06-16 | Tappin Matthew | Sell | 21K | $0.45 |
| 2025-05-30 | Tappin Matthew | Sell | 1.2K | $0.45 |
| 2025-05-29 | Guruswamy Vasudevan | Option exercise | 62K | — |
| 2025-05-29 | Tappin Matthew | Option exercise | 2.8K | — |
| 2025-05-29 | TYSON LAURA D | Option exercise | 110K | — |
| 2025-05-29 | Shivram Krishna | Option exercise | 62K | — |
| 2025-05-29 | Tammineedi Anil | Option exercise | 110K | — |
| 2025-05-29 | Daley Adam | Option exercise | 110K | — |
| 2025-05-29 | BUZBY DAVID S | Option exercise | 110K | — |
| 2025-05-29 | Birns Ira M | Option exercise | 110K | — |
| 2025-05-02 | Shukla Rahul | Sell | 25K | $0.54 |
| 2025-05-02 | Laureles Saul R. | Sell | 809 | $0.53 |
| 2025-05-01 | Laureles Saul R. | Option exercise | 3.5K | — |
| 2025-03-12 | Tappin Matthew | Sell | 13K | $0.40 |
| 2025-03-12 | Carlson Michael James | Sell | 28K | $0.40 |
| 2025-03-12 | Shukla Rahul | Sell | 7.5K | $0.40 |
| 2025-03-11 | Laureles Saul R. | Option exercise | 58K | — |
| 2025-03-11 | Shukla Rahul | Option exercise | 17K | — |
| 2025-03-11 | Tappin Matthew | Option exercise | 29K | — |
| 2025-03-11 | Carlson Michael James | Option exercise | 71K | — |
| 2025-03-07 | Tappin Matthew | Sell | 5.6K | $0.42 |
| 2025-03-06 | Laureles Saul R. | Option exercise | 18K | — |
| 2025-03-06 | Tappin Matthew | Option exercise | 13K | — |
| 2025-02-25 | Shukla Rahul | Sell | 9.0K | $0.51 |
| 2025-02-24 | Shukla Rahul | Option exercise | 20K | — |
| 2025-02-20 | Albert Hofeldt | Sell | 13K | $0.63 |
| 2025-02-20 | Laureles Saul R. | Option exercise | 35K | — |
| 2025-02-20 | Tappin Matthew | Sell | 8.1K | $0.63 |
| 2025-02-20 | Carlson Michael James | Option exercise | 26K | — |
| 2025-02-19 | Homenock Kim | Option exercise | 23K | — |
| 2025-02-19 | Albert Hofeldt | Option exercise | 47K | — |
| 2025-02-19 | Tappin Matthew | Option exercise | 24K | — |
| 2025-01-23 | Shukla Rahul | Sell | 3.5K | $0.65 |
| 2025-01-22 | Shukla Rahul | Option exercise | 8.0K | — |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT07372989 ↗ | Nebulized Human Amniotic Fluid in Patients With Interstitial Lung Disease Lung Diseases, Interstitial | PHASE1 | Recruiting | 2027-06-01 |
| NCT03101163 ↗ | Efficacy and Safety Study of Intra-Articular Injections of Autologous Peripheral Blood Stem Cells Following Subchondral Drilling Surgery for the Treatment of Articular Cartilage Injury in the Knee Articular Cartilage Disorder of Knee, Articular Cartilage; Degeneration | PHASE2 | Completed | 2022-07-01 |
| NCT04043819 ↗ | Evaluation of Safety and Exploratory Efficacy of an Autologous Adipose-derived Cell Therapy Product for Treatment of Single Knee Osteoarthritis Knee Osteoarthritis | PHASE1 | Unknown | 2021-01-01 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-03 | Exec/director changeShareholder voteExhibits | filing ↗ |
| 2026-05-06 | ResultsReg FDExhibits | filing ↗ |
| 2026-03-17 | Auditor change | filing ↗ |
| 2026-03-06 | Other | filing ↗ |
| 2026-03-04 | ResultsReg FDExhibits | filing ↗ |
| 2025-12-19 | Other | filing ↗ |
| 2025-12-16 | Exec/director change | filing ↗ |
| 2025-12-03 | Exec/director change | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-03 | 2026-06-03 | 0001758766-26-000059 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001758766-26-000045 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001758766-26-000043 ↗ |
| 8-K | 2026-03-17 | 2026-03-12 | 0001758766-26-000031 ↗ |
| 8-K | 2026-03-06 | 2026-03-06 | 0001758766-26-000024 ↗ |
| 10-K | 2026-03-05 | 2025-12-31 | 0001758766-26-000016 ↗ |
| 8-K | 2026-03-04 | 2026-03-04 | 0001758766-26-000014 ↗ |
| 8-K | 2025-12-19 | 2025-12-17 | 0001758766-25-000085 ↗ |
| 8-K | 2025-12-16 | 2025-12-11 | 0001758766-25-000081 ↗ |
| 8-K | 2025-12-03 | 2025-12-01 | 0001758766-25-000076 ↗ |
| 10-Q | 2025-10-30 | 2025-09-30 | 0001758766-25-000066 ↗ |
| 8-K | 2025-10-29 | 2025-10-29 | 0001758766-25-000064 ↗ |