FX.co ★ Stem Q4 Loss Widens

Stem, Inc. (STEM) released its fourth-quarter results on Wednesday, reporting an increased loss compared to the previous year as the boost in revenue was counterbalanced by a lower gross margin and escalated interest expenses.

The net loss for the fourth quarter amounted to $37.7 million, rising from last year's loss of $35.3 million. Nevertheless, quarterly revenues saw an increase of 8%, moving from last year's $155.5 million to this year's $167.4 million.

However, the company's gross margin fell, sliding from last year's 8% down to just 7%.

Looking ahead, Stem Inc. anticipates its revenues for the entire fiscal year 2024 will land somewhere between $600 million and $700 million.