Stem (STEM) Gross Margin (2020 - 2026)

Stem's Gross Margin history runs 7 years deep, the most recent figure standing at 37.44% for Q1 2026.

• In Q1 2026, Gross Margin rose 503.0% year-over-year to 37.44%; the TTM figure through Mar 2026 stood at 39.46% (up 2385.0% YoY), while the FY2025 annual figure was 38.37%, up 4602.0% from the prior year.
• Gross Margin for Q1 2026 stood at 37.44%, down from 48.87% in the prior quarter.
• The five-year high for Gross Margin was 48.87% in Q4 2025, with the low at 94.98% in Q1 2024.
• The 5-year median for Gross Margin is 11.63% (2022), against an average of 10.61%.
• The sharpest annual moves came in 2024 and 2025: Gross Margin tumbled 9646 bps in 2024, then jumped 12739 bps in 2025.
• Stem's Gross Margin stood at 8.06% in 2022, then slipped by 18 bps to 6.62% in 2023, then plunged by 166 bps to 4.37% in 2024, then surged by 1219 bps to 48.87% in 2025, then declined by 23 bps to 37.44% in 2026.
• Business Quant data shows STEM's Gross Margin at 37.44% in Q1 2026, 48.87% in Q4 2025, and 35.52% in Q3 2025.