Stem (STEM) Cost of Revenue (2020 - 2026)

Stem's Cost of Revenue history runs 7 years deep, the most recent figure standing at $18.1 million for Q1 2026.

• In Q1 2026, Cost of Revenue fell 17.44% year-over-year to $18.1 million; the TTM figure through Mar 2026 stood at $92.5 million (down 27.73% YoY), while the FY2025 annual figure was $96.3 million, down 38.12% from the prior year.
• Cost of Revenue for Q1 2026 stood at $18.1 million, down from $24.1 million in the prior quarter.
• The five-year high for Cost of Revenue was $156.3 million in Q4 2023, with the low at $18.1 million in Q1 2026.
• The 5-year median for Cost of Revenue is $49.7 million (2024), against an average of $62.2 million.
• The sharpest annual moves came in 2022 and 2024: Cost of Revenue jumped 7839.5% in 2022, then plunged 85.01% in 2024.
• Stem's Cost of Revenue stood at $142.9 million in 2022, then climbed by 9.39% to $156.3 million in 2023, then slumped by 62.73% to $58.3 million in 2024, then tumbled by 58.63% to $24.1 million in 2025, then declined by 24.74% to $18.1 million in 2026.
• Business Quant data shows STEM's Cost of Revenue at $18.1 million in Q1 2026, $24.1 million in Q4 2025, and $24.7 million in Q3 2025.