Stem, Inc. reported financial results for the quarter ended June 30, 2026, announcing a revenue decline of 12% year-over-year to $33.7 million, driven by reduced battery hardware resales and lower managed services revenue. The company posted a net loss of $14.4 million compared to net income of $202.5 million in the prior year period, primarily due to the absence of a one-time debt extinguishment gain recorded in 2Q25. However, adjusted EBITDA improved significantly by 63% to $6.2 million, marking the fifth consecutive quarter of positive adjusted EBITDA, while non-GAAP gross margin expanded to 55%. Operating metrics showed strength with bookings rising 39% sequentially to $36.8 million and contracted backlog increasing 18% to $27.1 million. The company reaffirmed its full-year 2026 financial guidance across all metrics, including revenue of $140-$190 million and adjusted EBITDA of $10-$15 million. Stem operates in the clean energy technology sector, providing AI-enabled software and services for solar and battery storage asset management.