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Logo NEWS RELEASE Stem Announces Second Quarter 2021 Financial Results 8/11/2021 Revenue at high end of guidance SAN FRANCISCO -- ( BUSINESS WIRE ) -- Stem , Inc. ( " Stem " or the " Company " ) ( NYSE : STEM ) , a global leader in artificial intelligence ( AI ) -driven clean energy storage services , announced today its financial results for the second quarter ended June 30 , 2021 . Financial Highlights Company reaffirms 2021 financial guidance Second Quarter 2021 Financial and Operating Highlights ● Revenues of $ 19.3 million , up from $ 4.4 million ( + 339 % ) in the same quarter last year Gross Margin ( GAAP ) of ( 1 ) % versus ( 40 ) % in the same quarter last year Non - GAAP Gross Margin of 11 % , up from 5 % in the same quarter last year Net Loss of $ ( 100.2 ) million versus $ ( 19.0 ) million in the same quarter last year Adjusted EBITDA of $ ( 8.6 ) million vs. $ ( 7.5 ) million in the same quarter last year Ended the second quarter with $ 474 million in cash and zero debt Operating Highlights 12 - month Pipeline of $ 1.7 billion , up from $ 1.4 billion ( + 21 % ) at end of the first quarter Contracted Backlog of $ 250 million , up from $ 221 million ( + 13 % ) at end of the first quarter • Contracted Assets Under Management ( AUM ) of 1.2 gigawatt hours ( GWh ) , up from 0.5 GWh in the same quarter last year John Carrington , Chief Executive Officer of Stem , commented , " We are pleased to announce a solid second quarter of execution , building on our strong first - quarter results . Revenue was at the high end of our guidance range , which , coupled 1