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Why has Stem, Inc. (STEM) stock skyrocketed in premarket?

Stem, Inc. (STEM) saw a push of 11.65% in the premarket because the company reported third-quarter 2021 results. However, the last trading session closed at $22.84 with a decline of 7.87%.


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Third Quarter 2021 Results – What’s the conclusion?

STEM announced third quarter 2021 results on 9th November 2021. The company recorded revenues of $39.8 million 334 percent more than the previous quarter. Moreover, the company had a net loss of $115.6 million and Adjusted EBITDA of $7.2 million. The company is delighted to report a record quarter of commercial and operational performance this quarter, as evidenced by sales, gross margin, backlog, pipeline, and AUM.

Is the company’s future strong?

Customers are increasingly asking for Athena, the industry-leading software platform, to power STEM’s smart energy solutions. To satisfy contracted customer demand, the company has secured projected supply requirements through Q3 2022 and is proactively seeking to lock in expected hardware deliveries for the entire year 2022. The company thinks that the commercial momentum provides exceptional insight into multi-year growth when combined with a fast-increasing market, distinctive product, and a solid balance sheet.

Significant Milestones for Athena Software

STEM announced two new application improvements to its Athena smart energy software on 5th October 2021. This allows project developer clients to make additional cash in wholesale energy markets for both front of meter (FTM) and behind the meter (BTM) storage projects. Moreover, Athena SupervisorTM gives real-time visibility into how Athena manages and commercializes energy assets, and Athena BidderTM, Stem’s patented market operations engine that executes asset approaches to optimize wholesale price revenues, are both included in the upgraded offering.

Since expanding market participation operations for FTM storage in 2020, Stem has developed significantly in the ISO-NE market. Stem’s Athena-controlled systems accounted for 52 percent of Massachusetts’ functional continual storage sites and 19 percent of ISO-operational NE’s continuous storage facilities operating in the wholesale energy, ancillary services, and forward capacity markets as of mid-2021. Lastly, Athena continues to provide users with an average internal rate of return (IRR) of up to 30%.

South America’s First Virtual Power Plant – Worth it?

On 15th September 2021, STEM and COPEC announced the completion of their first smart energy storage system and the building of South America’s first virtual power plant (VPP). Not only this but Chilquinta Energa S.A. is also involved in the collaboration. Stem and Copec announced a collaboration to introduce Stem’s intelligent storage solutions to South America, marking the company’s first foray into the area.

In addition, Stem and Copec have teamed up with Chilquinta as well to create the first VPP in South America, which is a network of decentralized behind-the-meter (BTM) power producing stations. Stem’s Athena smart energy storage software was adapted for this project to incorporate utility and grid market data points that optimize energy storage assets in Chile.

Now what?

For Stem and Copec, the energy storage industry in South America provides substantial growth potential. The company is pleased to announce that their first project under this partnership has been completed, establishing Copec as a smart grid member while lowering energy costs and improving the sustainability of their manufacturing facilities.

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