Stem (STEM) Operating Expenses (2019 - 2026)
Stem (STEM) posted quarterly Operating Expenses of $25.1 million for Q1 2026, down 20.87% year-over-year from $31.7 million in Q1 2025, and down 20.11% quarter-over-quarter from $31.4 million in Q4 2025.
Stem (STEM) Operating Expenses (2019 - 2026) Analysis & Trends
Stem's Operating Expenses history runs 8 years deep, the most recent figure standing at $25.1 million for Q1 2026.
- In Q1 2026, Operating Expenses fell 20.87% year-over-year to $25.1 million; the TTM figure through Mar 2026 stood at $109.0 million (down 86.64% YoY), while the FY2025 annual figure was $115.6 million, down 86.04% from the prior year.
- Operating Expenses for Q1 2026 stood at $25.1 million, down from $31.4 million in the prior quarter.
- The five-year high for Operating Expenses was $589.2 million in Q2 2024, with the low at $25.1 million in Q1 2026.
- The 5-year median for Operating Expenses is $43.6 million (2023), against an average of $77.4 million.
- The sharpest annual moves came in 2024 and 2025: Operating Expenses soared 1160.64% in 2024, then sank 95.56% in 2025.
- Stem's Operating Expenses stood at $46.3 million in 2022, then slipped by 3.6% to $44.6 million in 2023, then grew by 0.21% to $44.7 million in 2024, then fell by 29.8% to $31.4 million in 2025, then declined by 20.11% to $25.1 million in 2026.
- Business Quant data shows STEM's Operating Expenses at $25.1 million in Q1 2026, $31.4 million in Q4 2025, and $26.4 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Enlight Renewable Energy | 12.05 Bn | 10.88 Bn | 117.49 Mn | 118.69 Mn |
| 2 | Ormat Technologies | 7.00 Bn | 6.35 Bn | 68.70 Mn | 27.07 Mn |
| 3 | Brookfield Renewable Partners | 4.14 Bn | 1.64 Bn | 623.00 Mn | 783.00 Mn |
| 4 | Clearway Energy | 3.78 Bn | 3.44 Bn | 332.00 Mn | 365.00 Mn |
| 5 | ReNew Energy Global | 2.47 Bn | 2.05 Bn | 269.00 Mn | 408.00 Mn |
| 6 | Fluence Energy | 1.85 Bn | 1.29 Bn | 33.24 Mn | 63.04 Mn |
| 7 | XPLR Infrastructure | 1.09 Bn | 591.52 Mn | - | 304.00 Mn |
| 8 | Energy Vault Holdings | 682.13 Mn | 574.78 Mn | 5.38 Mn | 30.04 Mn |
| 9 | AXIA Energia | 658.46 Mn | -1.92 Bn | 1.44 Bn | -424.56 Mn |
| 10 | Stem | 51.83 Mn | 15.24 Mn | 10.86 Mn | 25.07 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 25.07 Mn |
| Dec 31, 2025 | 31.38 Mn |
| Sep 30, 2025 | 26.43 Mn |
| Jun 30, 2025 | 26.14 Mn |
| Mar 31, 2025 | 31.69 Mn |
| Dec 31, 2024 | 44.71 Mn |
| Sep 30, 2024 | 150.65 Mn |
| Jun 30, 2024 | 589.22 Mn |
| Mar 31, 2024 | 43.82 Mn |
| Dec 31, 2023 | 44.61 Mn |
| Sep 30, 2023 | 47.98 Mn |
| Jun 30, 2023 | 46.74 Mn |
| Mar 31, 2023 | 43.65 Mn |
| Dec 31, 2022 | 46.28 Mn |
| Sep 30, 2022 | 41.73 Mn |
| Jun 30, 2022 | 37.61 Mn |
| Mar 31, 2022 | 38.60 Mn |
| Dec 31, 2021 | 28.53 Mn |
| Sep 30, 2021 | 22.27 Mn |
| Jun 30, 2021 | 23.75 Mn |