Stem, provider of AI-backed energy storage software, posted record growth in Q2 2022. August 5, 2022 Ryan KennedySan Francisco-based Stem released its Q2 2022 financial results, posting 246% revenue growth. Stem is a provider of AI-backed energy storage software and services. The company recently partnered with AlsoEnergy, a leading solar monitoring software provider, to fully integrate solar and energy storage software solutions. Stem said the integration of the two companies is on track.Storage assets under management total 2.1 GWh, up from 1.8 GWh by the end of Q1 2022. The solar monitoring division has 32.1 GW under management.Stem’s quarterly revenues exceeded the high end of guidance by 5%, achieving $67 million in Q2, up from $19 million year-over-year. Its GAAP gross margin was 12%, up from 1% in the previous year’s quarter. Non-GAAP gross margin was 17%.Net losses were…
Energy storage software provider posts 246% revenue growth – pv magazine USA
