Stem (STEM) Research & Development (2020 - 2026)
Stem (STEM) posted quarterly Research & Development of $6.6 million for Q1 2026, down 41.96% year-over-year from $11.3 million in Q1 2025, and down 53.94% quarter-over-quarter from $14.3 million in Q4 2025.
Stem (STEM) Research & Development (2020 - 2026) Analysis & Trends
Stem's Research & Development history runs 7 years deep, the most recent figure standing at $6.6 million for Q1 2026.
- In Q1 2026, Research & Development fell 41.96% year-over-year to $6.6 million; the TTM figure through Mar 2026 stood at $37.8 million (up 23.54% YoY), while the FY2025 annual figure was $35.3 million, down 6.53% from the prior year.
- Research & Development for Q1 2026 stood at $6.6 million, down from $14.3 million in the prior quarter.
- The five-year high for Research & Development was $18.8 million in Q4 2023, with the low at -$2.7 million in Q4 2024.
- The 5-year median for Research & Development is $11.1 million (2024), against an average of $10.7 million.
- The sharpest annual moves came in 2024 and 2025: Research & Development slumped 114.58% in 2024, then soared 620.19% in 2025.
- Stem's Research & Development stood at $9.9 million in 2022, then surged by 90.63% to $18.8 million in 2023, then tumbled by 114.58% to -$2.7 million in 2024, then jumped by 620.19% to $14.3 million in 2025, then sank by 53.94% to $6.6 million in 2026.
- Business Quant data shows STEM's Research & Development at $6.6 million in Q1 2026, $14.3 million in Q4 2025, and $7.0 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Enlight Renewable Energy | 11.99 Bn | 10.83 Bn | 117.49 Mn | 4.69 Mn |
| 2 | Ormat Technologies | 7.09 Bn | 6.43 Bn | 68.70 Mn | 5.97 Mn |
| 3 | Brookfield Renewable Partners | 4.64 Bn | 2.14 Bn | 623.00 Mn | - |
| 4 | Clearway Energy | 3.80 Bn | 3.46 Bn | 332.00 Mn | - |
| 5 | ReNew Energy Global | 2.48 Bn | 2.06 Bn | 269.00 Mn | - |
| 6 | Fluence Energy | 1.82 Bn | 1.26 Bn | 33.24 Mn | 25.30 Mn |
| 7 | XPLR Infrastructure | 1.08 Bn | 582.56 Mn | - | - |
| 8 | Energy Vault Holdings | 684.89 Mn | 616.14 Mn | 4.79 Mn | 2.59 Mn |
| 9 | AXIA Energia | 672.29 Mn | -1.91 Bn | 1.44 Bn | - |
| 10 | Stem | 48.89 Mn | 12.30 Mn | 10.86 Mn | 6.58 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 6.58 Mn |
| Dec 31, 2025 | 14.27 Mn |
| Sep 30, 2025 | 6.98 Mn |
| Jun 30, 2025 | 9.99 Mn |
| Mar 31, 2025 | 11.33 Mn |
| Dec 31, 2024 | -2.74 Mn |
| Sep 30, 2024 | 11.09 Mn |
| Jun 30, 2024 | 10.94 Mn |
| Mar 31, 2024 | 11.13 Mn |
| Dec 31, 2023 | 18.82 Mn |
| Sep 30, 2023 | 14.42 Mn |
| Jun 30, 2023 | 13.68 Mn |
| Mar 31, 2023 | 13.44 Mn |
| Dec 31, 2022 | 9.87 Mn |
| Sep 30, 2022 | 10.53 Mn |
| Jun 30, 2022 | 12.96 Mn |
| Mar 31, 2022 | 9.14 Mn |
| Dec 31, 2021 | 2.40 Mn |
| Sep 30, 2021 | 4.98 Mn |
| Jun 30, 2021 | 4.83 Mn |