Stem (STEM) Operating Expenses (2019 - 2026)

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 was $25.1 million for Q1 2026 at Stem, down from $31.4 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $589.2 million in Q2 2024 to a low of $25.1 million in Q1 2026.
• Historically, Operating Expenses has averaged $77.4 million across 5 years, with a median of $43.6 million in 2023.
• The sharpest annual moves came in 2024 and 2025: Operating Expenses jumped 1160.64% in 2024, then slumped 95.56% in 2025.
• A 5-year view of Operating Expenses shows it stood at $46.3 million in 2022, then dropped by 3.6% to $44.6 million in 2023, then increased by 0.21% to $44.7 million in 2024, then retreated by 29.8% to $31.4 million in 2025, then fell by 20.11% to $25.1 million in 2026.
• The last three Operating Expenses figures came in at $25.1 million (Q1 2026), $31.4 million (Q4 2025), and $26.4 million (Q3 2025), per Business Quant data.